December 16, 2010 |
Who knew 140 characters could be worth so much? Twitter Inc., the social networking sensation, raised $200 million from investors Wednesday. That placed the value of the San Francisco Internet company at $3.7 billion, nearly four times its valuation a year ago. Gartner Inc. analyst Ray Valdes said the valuation reflects rising investor interest in hot Internet companies. "The valuation is not outlandish," Valdes said. "It reflects their growth and the time we are in. " Twitter, one of the Web's most popular social networks and increasingly a pop culture phenomenon, lets users send 140-character messages, or tweets, to followers.
November 7, 2007 |
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.
February 11, 2010 |
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.
January 12, 2011 |
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.
May 30, 2012 |
SAN FRANCISCO - For teens, it has been an essential rite of passage: They turn 13 and join Facebook. Since she signed up three years ago, friend requests and status updates are as much a part of Meera Kumar's life as homework and exams at Menlo School, the elite private school in leafy Atherton, Calif., where she's a 16-year-old sophomore. But when her kid sister Anika turned 13 last year, she gave Facebook a pass. "I guess I haven't been that interested in it," said Anika, who prefers sharing photos with friends on Instagram via her iPhone or video chatting with them onGoogle+.
February 3, 2012 |
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.
May 27, 2011 |
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.
May 11, 2012 |
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.
May 22, 2010 |
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.
February 24, 2010 |
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.