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Insight: Who got Facebook IPO shares? Fairness may not come into it
NEW YORK (Reuters) – A lot of loyal Facebook fans and occasional investors are discovering a hard truth this week: Money and connections talk, especially when it comes to a hot deal handled by Wall Street. The scramble for shares in what is one of largest initial public offerings in U.S. history quickly divided the haves from the have-nots on Thursday. Those with big brokerage accounts and a... [Read more]
Factbox: Facebook’s IPO: who gets rich?
SAN FRANCISCO (Reuters) – The rich are going to get richer when Silicon Valley’s biggest IPO starts trading on Friday. Facebook this week raised the number of shares it intends to float by 25 percent to 421 million shares, and lifted the target price range to $34-$38 per share as investors clamored for a slice of the third-largest IPO in U.S. history. As a result, the No. 1 social network... [Read more]
Google searches get smarter
Google on Wednesday began making its search engine smarter, in what the Internet giant called a major upgrade that looks beyond query words to figure out what people are actually seeking online. More: Google searches get smarter Read More →
Factbox: Early Facebook backers and their bets today
(Reuters) – Facebook’s earliest venture-capital backers, especially at once-downtrodden outfit Accel Partners, will have reason to celebrate come Friday when the world’s biggest social network is set to debut on the Nasdaq at as much as a $100 billion valuation. Here is a look at some of these pioneering investors View post: Factbox: Early Facebook backers and their bets today Read More →
Facebook’s Zuckerberg says mobile first priority
PALO ALTO, California (Reuters) – Facebook CEO Mark Zuckerberg, whose limited role in promoting the No. 1 social network’s market debut has drawn criticism, laid out its growth strategy to investors on Friday, saying that transforming its mobile and advertising experience are top priorities in 2012. Integrating online apps more strongly into Facebook is also a major goal, he told hundreds... [Read more]
Facebook co-founder Saverin renounces citizenship
SAN FRANCISCO (Reuters) – Facebook Inc co-founder Eduardo Saverin has renounced his U.S. citizenship, according to an Internal Revenue Service report, days before the company’s initial public offering. The news, first published by Bloomberg on Friday, was based on an IRS notice late in April that named people “who have chosen to expatriate.” Facebook plans to raise as much... [Read more]
Univision launching three webnovelas
NEW YORK (The Wrap) – You understand “telenovelas,” and now it may be time to add the word “webnovela” to your vocabulary: Univision, the top network for Spanish-speaking viewers, announced Friday the launch of a new video digital network and three webnovels, a format already popular in much of Latin America. Are webnovelas already a thing? Yes. Univision has offered them... [Read more]
Viddy gets $30 million funding, aims to stand out from competition
SAN FRANCISCO (Reuters) – Viddy, the popular mobile video start-up, announced on Friday it has raised a hefty $30 million from institutional investors to bolster its expansion efforts in the face of stiff competition from Socialcam, a similar video-sharing service. Viddy’s announcement comes at a time the two companies are locked in a race to generate users and publicity, and a struggle... [Read more]
Facebook’s IPO already oversubscribed: source
SAN FRANCISCO (Reuters) – Facebook Inc’s record initial public offering is already oversubscribed, a source familiar with the share listing said, days after the world’s largest social network embarked on a cross-country roadshow to drum up investor enthusiasm. Despite concerns about slowing growth, a lofty valuation and signs the company is having trouble ramping up revenue from... [Read more]
Microsoft redesigns Bing, plays up Facebook link
SEATTLE (Reuters) – Microsoft Corp unveiled a new design on Thursday for its second-ranked Bing search engine, introducing elements from Facebook and other social networks, as it tries to claw market share from leader Google Inc. Slow off the mark in Internet search, Microsoft has racked up losses of The rest is here: Microsoft redesigns Bing, plays up Facebook link Read More →