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BUSINESS
February 21, 2014 | By Jessica Guynn
SAN FRANCISCO - The $19 billion that Facebook Inc. is paying for a smartphone app, one of the biggest tech deals of all time, made jaws drop even in Silicon Valley, where entrepreneurs tend to have an inflated sense of their own worth. "It's 19 Instagrams," observed serial start-up entrepreneur Adam Rifkin, referring to the $1 billion Facebook paid for the popular photo-sharing app in 2012. But analysts say the purchase of WhatsApp could pay off for Facebook as it takes on Google Inc. and other technology giants in the escalating arms race to be the next big thing in mobile.
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BUSINESS
February 27, 2009 | Alana Semuels
The Facebook nation is turning into a democracy. Facebook Inc. on Thursday invited its 175 million members to help govern the social network by reviewing, discussing and voting on the website's rules. "This is really about us trusting our users," Chief Executive Mark Zuckerberg said in a conference call with reporters to discuss the changes.
BUSINESS
November 25, 2008 | Jessica Guynn, Guynn is a Times staff writer.
Facebook Inc. has struck back against spammers, winning an $873-million judgment against a Canadian man accused of sending millions of unsolicited messages about drugs and sex. The popular social networking site said Adam Guerbuez tricked its members into revealing their passwords to send out messages. Guerbuez did not appear in court to defend himself, Facebook said, although the company says it has video of him being served the lawsuit. U.S.
BUSINESS
September 16, 2009 | David Sarno
Facebook Inc., the world's largest Internet social network, said Tuesday that it made more money than it spent, attaining a positive cash flow for the first time since it was started in a Harvard dorm room nearly six years ago. The Palo Alto company also said it had increased to 300 million active users. The site reached 150 million users in only five years, a fast growth rate by any measure. But like sprinter Usain Bolt, Facebook atomized its own speed record this year by climbing to 300 million users from 150 million in a little over nine months.
BUSINESS
April 3, 2013 | By Jessica Guynn
SAN FRANCISCO -- Is mobile clicking for Facebook Inc.? Facebook's initial public stock offering in May was dashed after the social network said it wasn't making "any significant revenue" from mobile even though more than half of its users checked the service on mobile devices. With its stock price plunging, Facebook Chief Executive Mark Zuckerberg acknowledged in September: "We've had a bunch of missteps" in mobile. But in the background, Facebook has already powered up the turbo boosters.
BUSINESS
November 30, 2007 | Jessica Guynn, Times staff writer
Bowing to pressure from a mass online protest, Facebook Inc., the fast-growing and popular social networking website, reversed course Thursday on a controversial new advertising program and said it would no longer alert users' friends about what they do and buy on the Web without their explicit permission. Beacon, an online tracking tool introduced last month, keeps tabs on the goods and services that Facebook's 55 million users buy or rent on partner sites such as Fandango.com and Blockbuster.
BUSINESS
April 3, 2013 | By Salvador Rodriguez
Last week, Facebook Inc. invited journalists to attend a big announcement event Thursday morning, but since then, dozens of reports have come out about what Facebook might unveil. And all those reports have left us with a pretty good idea of what to expect. The event is set for 10 a.m. and will be held at Facebook headquarters in Menlo Park, Calif. Here's what we think will go down, but, of course, you may still want to tune in just in case Facebook throws us a curveball. PHOTOS: Top 10 must-have smartphone apps Facebook Home Numerous reports say Facebook will announce a modified version of Google's Android mobile operating system, which is expected to be called Facebook Home.
BUSINESS
June 20, 2008 | Jessica Guynn, Times Staff Writer
Matt Cohler, a senior Facebook Inc. executive and one of the early employees of the social networking phenom, is leaving to become a general partner with Benchmark Capital. The departure comes at a crucial time for Facebook, which has risen to become one of Silicon Valley's hottest companies. Microsoft Corp. and other investors last year gave the 4-year-old venture a $15-billion valuation.
BUSINESS
January 17, 2008 | From the Associated Press
The companies that make Scrabble are trying to shut down Scrabulous, an online version of the game that is one of the most popular applications on the social-networking website Facebook. Hasbro Inc., which owns the rights to the crossword game in the U.S. and Canada, and Mattel Inc., which owns the rights elsewhere, believe that the Facebook game infringes their copyrights and trademarks. Scrabulous listed more than 600,000 daily active users on Facebook as of Wednesday.
BUSINESS
February 26, 2007 | From the Associated Press
As the mastermind of Facebook.com, Mark Zuckerberg is sitting on a potential gold mine that could make him the next Silicon Valley whiz kid to strike it rich. But the 22-year-old founder of the Internet's No. 2 social-networking site also could become the next poster boy for missed opportunities if he waits too long to cash in on Facebook Inc., which is expected to generate revenue of more than $100 million this year.
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