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BUSINESS
November 7, 2007 | Jessica Guynn, Times Staff Writer
Facebook Inc. wants to turn the members of its popular online hangout into champions of the brands that advertise there. Trying to mine its commercial potential, the social networking site Tuesday unveiled an advertising strategy that piggybacks on one of its most powerful features: the news feed, which shows users a streaming list of what their friends are doing. Facebook hopes the news feed also will help users promote its advertisers.
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BUSINESS
February 11, 2010 | By Ben Fritz and Jessica Guynn
In the latest blow to what was once the jewel of News Corp.'s digital empire, MySpace Chief Executive Owen Van Natta unexpectedly exited Wednesday after less than 10 months on the job. Van Natta's departure comes as the media conglomerate struggles to reshape MySpace, a former giant in social networking that has been overtaken by Facebook and confronts new challengers such as Twitter. MySpace's rapid decline also illustrates the perils of placing big bets on digital media, where websites can quickly rise and fall by the mouse clicks of fickle users.
BUSINESS
January 12, 2011 | Dawn C. Chmielewski and Jessica Guynn, Los Angeles Times
Rupert Murdoch, the head of media giant News Corp., was brimming with confidence when his firm's Myspace was the reigning social networking site three years ago, noting it was "not just looking up friends," as rival Facebook was doing. Now Myspace could use some friends. Hobbled by dramatic declines in advertising revenue and monthly visitors, Myspace announced a sweeping restructuring Tuesday that will result in the loss of 500 jobs worldwide, or about 47% of the workforce at the Beverly Hills company.
BUSINESS
February 3, 2012 | David Lazarus
Welcome to the post-privacy era. What's most striking about Facebook's initial public offering isn't that it values the 8-year-old company at up to $100 billion, or that this will be the biggest-ever IPO for an Internet firm. What's most striking is that Facebook is serving up to investors the prospect of 845 million users (read: consumers) worldwide being a captive market for businesses looking to sell them stuff. And in a twist that would have been unimaginable before social media took the Net by storm, we've become willing partners in the devaluing of our privacy.
BUSINESS
May 27, 2011 | By Jessica Guynn, Los Angeles Times
Facebook Inc. fired back at a New York pellet salesman who claims he's entitled to part of Mark Zuckerberg's stake in Facebook. In a court filing, the Palo Alto company alleges that Paul Ceglia doctored a 2003 contract with Zuckerberg that he says entitles him to as much as half of Zuckerberg's stake in Facebook. Last month, Ceglia filed an amended complaint in U.S. District Court in Buffalo, N.Y., that included excerpts from alleged email exchanges between him and Zuckerberg that he said supported his claim.
BUSINESS
May 11, 2012 | By Jessica Guynn, Los Angeles Times
SAN FRANCISCO - California is one step closer to becoming one of the first states to ban companies from asking job seekers and workers for their user names and passwords on Facebook and other social networking websites. The state Assembly on Thursday passed a bill sponsored by Assemblywoman Nora Campos (D-San Jose) that would make anything workers designate as private on social networks off-limits to employers. The bill, which passed the Assembly without a dissenting vote, now goes to the California Senate.
BUSINESS
May 22, 2010 | By Jessica Guynn, Los Angeles Times
Facing growing protests over its handling of users' personal information, Facebook plans to make changes to the privacy settings available on the world's largest social networking website. But the steps, to be unveiled as early as next week, may not go as far as critics would like. Lawmakers, regulators, privacy watchdogs and some Facebook users have unleashed a storm of criticism of the Internet company since it launched a program that shares user data with three third-party websites.
BUSINESS
July 26, 2010 | By Cyndia Zwahlen
Back in 1912, when the Venice Beach Suites & Hotel was built on Ocean Front Walk, the only tweeting going on was among the local bird population. Today, owner Andy Layman is listening to the online chorus at Twitter and other social networking websites, hoping to join in. Learning to hit the right notes to attract new guests and boost revenue at his boardwalk property is a daunting prospect. "I haven't really gotten a handle on it," said Layman, 62. Yet, done right, he believes social media would be an inexpensive way to find more of the type of traveler who already raves online about his eclectic, 25-room location.
BUSINESS
February 24, 2010 | By Jessica Guynn
In a battle to woo back Web surfers who are spending more time on social networking sites, Internet portal Yahoo has clinched a deal with Twitter to share content across both properties. Yahoo reached a similar agreement with Facebook in December, making it easier for users to share Facebook status updates and other information. Twitter offers millions of messages posted every minute. "The information in one single tweet can travel light years farther with this Yahoo integration," Twitter co-founder Biz Stone said in a statement.
BUSINESS
June 4, 2011 | By Bridget Carey
Entrepreneur Mykalai Kontilai's August purchase of the long-running public TV show "Nightly Business Report" came as a surprise. The San Diego-based Kontilai's background as a celebrity martial artists' manager and distributor of instructional television shows made him an unlikely buyer. And in the nine months since he bought the show from WPBT-PBS2 in Miami, Kontilai has revealed few details regarding plans for the 30-year-old weeknight business wrap-up show. But in a recent interview at the show's North Miami studio, Kontilai — who owns the show with partner Gary L. Ferrell under the corporate name of NBR Worldwide — spoke more about expanding the show's brand and audience.
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