Archive for facebook ipo

How Facebook Has Changed Since Going Public 1 Year Ago

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"Facebook was not originally created to be a company," CEO Mark Zuckerberg wrote in his SEC Registration letter a little more than three months before Facebook went public on May 18, 2012. "It was built to accomplish a social mission — to make the world more open and connected."

In the year since the Facebook IPO, some things haven't changed: Zuckerberg still sports his trademark hoodies, employees still rate their company and their founder highly, and Facebook still talks about its grand mission to make the world more open and connected. But the era of Facebook operating or being perceived as anything other than a corporation seems more distant with each passing day Read more...

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AOL, Yahoo Were Better Investments This Year Than Facebook Stock

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Ah, the benefit of hindsight.

Those who rushed to buy Facebook stock at its initial public offering price of $38 per share on May 18, 2012, are likely a little disappointed with their investment one year later. Though the stock has recovered from its $17.55 September 4 low, the price of the stock today, at a little more than $26 per share, is still closer to its all-time low than its opening price.

What if investors had put their money into other technology or Internet companies? Statistics database Statista looked at how a $1,000 investment made on the day of Facebook's IPO would have performed nearly one year later in the chart below. Read more...

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Going Public Made Facebook a Much Better Company

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Mashable OP-ED

It's easy to forget how sky-high expectations were for the Facebook IPO. The day before the company went public, some investors reasonably assumed that by the close of the market, Facebook would be worth $140 billion since the average first-day pop for tech companies was 32%

Forbes also urged investors to "Buy Early And Buy As Much As You Can." A poll of 800 people determined that Facebook would close at $55 on its first day as a public company, putting it in that ethereal $140 billion range.

A year later, we all know how things actually turned out. Facebook's stock price jumped a mere $0.23 on that first day. Over the next few months, the stock bottomed out at $17.55 — less than half its opening price. The backlash was so fierce that there was even a movement to dump CEO Mark Zuckerberg in favor of a more seasoned chief executive. Viewed in cold economic terms, the Facebook IPO was a bust Read more...

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Mark Zuckerberg’s Approval Rating at Facebook Up Since IPO

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Just hours before Facebook became a publicly traded company last May, Mark Zuckerberg took the stage at a pre-IPO hackathon and received a standing ovation from thousands of his employees.

In the year since then, those same employees have watched as Facebook's stock plummeted to less than half its IPO value before recovering somewhat, and presumably heard some of the negative comments from investors and analysts about Facebook's long-term viability as a company. Yet, almost exactly one year after that night, employees appear to approve of Zuckerberg as much as ever — perhaps more so in fact.

Zuckerberg had a 99% approval rating at Facebook for the full year since the IPO compared to 95% in the year leading up to the IPO, according to data provided to Mashable by Glassdoor, a job site that features anonymous employee reviews for thousands of companies. In fact, Zuckerberg had a 100% approval rating in three of four quarters last year based on new reviews on the site during those time periods, though it dipped slightly to 96% in the first quarter of this year. Read more...

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Social Media Newsfeed: Instagram on the Web | Pinterest Valuation

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Mobile-First Instagram Brings its Content to the Web (SocialTimes)
Instagram users can now access their photo feeds via the desktop Web, according to co-founder Kevin Systrom. Instagram, perhaps the most successful mobile-first company to date, is nevertheless playing catch-up on the Web. CNET Photos are displayed single file in reverse chronological order, and standard mobile features such as double-clicking a photo to “like” it and inline comments have also been carried over. Unfortunately, Web site users cannot upload photos to Instagram.com, which means the photo-sharing piece of the Instagram equation remains mobile-only. Adweek The move is only Instagram’s latest in the past year to make its service accessible to more users. Since launching in October 2010 Instagram had been only available to iPhone users until last April when it finally introduced an Android version. But even still, desktop and tablet users (and whoever owns a BlackBerry or Windows Phone) were iced out. Mashable You could previously browse your own pictures at a specific URL — instagram.com/futurechris, for example — but this is the first time a real-time feed of the mostly mobile service has been made available on a browser. There are advantages to Web viewing. First and foremost, the site can inform you when new pictures arrive. ReadWrite The thing that makes Instagram special is that — until Tuesday — it was a social network with no Web presence. There’s an inestimable charm to how Instagram feels walled-off in its mobile-only realm.

As Pinterest Grows, Startup Seeks $2.5 Billion Valuation (The Wall Street Journal)
Pinterest’s continued growth, engagement and business potential has attracted growing interest from investors who have put sky-high valuations on a company with little to no revenue that is unprofitable. The company is in talks to raise a new round of financing at a $2 billion to $2.5 billion valuation, said people familiar with the matter. GigaOM The company was a stealthy startup success, and most recently raised a funding round of $100 million in May 2012 that put its valuation at $1.5 billion. A Pinterest spokeswoman said the company has no comment on “speculation or rumors.” The Next Web comScore has reported that Pinterest has more than 28 million users in December 2012, up from 7.5 million a year ago. What has been causing this huge spike in users? TNW’s Brad McCarty reported that Pinterest’s rapid rise to popularity was due to its appealing nature towards the female audience.

Nasdaq Reportedly to Be Fined for Facebook IPO Mishandling (AllFacebook)
It appears that Nasdaq is about to be punished for its mishandling of Facebook’s initial public offering last year. However, as The Wall Street Journal reports, it’s more of a slap on the wrist than a major penalty.

Bluefin Labs Officially Joins Twitter’s Flock (VentureBeat)
Twitter confirmed Monday’s rumors of its Bluefin Labs purchase in a blog post detailing why the startup is an important addition to Twitter’s overall strategy. Financial terms of the acquisition were not disclosed.

Brand Excitement For Social Media Marketing Has Declined, Says Report [Study] (AllTwitter)
Social media, the digital marketer’s overwhelming favorite in 2012, is very much on the decline. Social media engagement placed third among all leading digital marketing priorities for this year, dropping a single percentage point on 2012 to 38 percent.

Analysis: Zynga Offers Surprising Results (USA Today)
Game over for Zynga? Hardly, if the social-gaming company’s fourth-quarter results are any indication.

Twitter Won’t Make ‘Sacrifices’ Required to be in China: CEO (CNET)
Twitter CEO Dick Costolo said that the social-networking giant won’t “make the kind of sacrifices” necessary to be allowed to work in China and Iran. In an interview with The Wall Street Journal published Tuesday, Costolo addressed the question of whether Twitter would like to be available in China and Iran by replying that the company is not willing to filter out the kind of politically sensitive material that government officials in those two countries would require in order to be allowed to function there.

Most Facebook Users Have Taken a Break From the Site, Survey Finds (The New York Times)
A new survey by the Pew Research Center‘s Internet and American Life Project, conducted in December, found that 61 percent of current Facebook users admitted that they had voluntarily taken breaks from the site, for as many as several weeks at a time. The main reasons for their social media sabbaticals were not having enough time to dedicate to pruning their profiles, an overall decrease in their interest in the site, and the general sentiment that Facebook was a major waste of time.

Site Plagiarizes Blog Posts, Then Files DMCA Takedown on Originals (ars technica)
A dizzying story that involves falsified medical research, plagiarism, and legal threats came to light via a DMCA takedown notice on Tuesday. Retraction Watch, a site that followed (among many other issues) the implosion of a Duke cancer researcher’s career, found all of its articles on the topic pulled by WordPress, its host.

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Social Media Newsfeed: Facebook Timeline | Social Sandy | Google Drive

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Facebook tests Timeline layout with single column of posts (InsideFacebook)
Facebook is testing a new format for user Timelines, which puts all posts in a single column on the left and any activity modules in a narrower column on the right. This layout addresses one of the common complaints about the new profile: users previously had to look back and forth on the page as they scrolled through to read their stream. CNET The test layout keeps the boxes that highlight friends and activities to the right. AllFacebook When a user has no more open graph actions to show, the right side of the page will revert to blank, instead of creating two sides of wall posts. InsideFacebook Facebook confirmed that it is testing this design with a small percentage of users but did not offer any additional information.

Google Drive Turns On Sharing Directly to Google+ (SocialTimes)
Google Drive users are now be able to share their files in their Google+ streams, and their social contacts can read the files without leaving Google’s social network, the company said today. TechCrunch This is a pretty huge deal because it turns the service into a completely collaborative environment outside of the popular Hangouts feature. TheNextWeb The perfect example for this new feature is of course the one announcing it, over on the Google Drive Google+ page. As you can see in the screenshot below, the 8-page Google Docs presentation is embedded right into Google+.

Facebook seeks to offer alternative to Craigslist, utilizing user networks (The Daily)
Facebook is testing a new service that might make Craigslist a thing of the past. Two sources within Facebook, who spoke on the condition of anonymity, have independently told The Daily that development of a classifieds project is on a fast track, not just as a way to not just engage its millions of users but also as a way of allowing them to engage each other. AllFacebook The company confirmed to AllFacebook that the site is testing different ways to put ads in news feeds.

Twitter Users Posted More than 3 Million Tweets About #sandy and #hurricanesandy (SocialTimes)
While Hurricane Sandy wreaked havoc on the East Coast on Monday night, Twitter was ablaze with commentary about the storm. Social insights company Topsy has shared with us their analysis of what Twitter users had to say about the hurricane in the first 24 hours. By Topsy’s calculation, there were more than 3 million tweets including #sandy and/or #hurricanesandy.

iPad mini review (The Verge)
Battery life was — not surprisingly — everything Apple claimed it would be. On the tablets more than on any other product the company makes, it seems to be hitting its targets on longevity. I spent some pretty heavy days in mixed use (intermittent sessions of email, web browsing, Twitter, IRC, game playing, music, and video playback), and didn’t have to worry about charging until about the middle or evening the next day. Overall, I was more than satisfied with the iPad mini’s battery performance.

5 Common Twitter Myths That Are Hurting Your Efforts (AllTwitter)
Twitter’s been around for a while, but there are still some nasty myths circulating among even the Twitter elite that could be crippling your success. Some of these myths have been around since before Ashton Kutcher and CNN brought Twitter to the mainstream, while others have popped up more recently. But they will all damage how effective you can be on Twitter if you buy into them, so be wary when you hear these myths being floated around the media, the water cooler, or even Twitter itself.

Facebook Banks Spent $66 Million Buoying IPO, Fed Economists Say (Bloomberg)
Facebook Inc. (FB)’s underwriters may have spent an estimated $66 million supporting the stock’s price in the first day of trading after the company’s initial public offering, Federal Reserve Bank of New York economists said. The underwriters of Facebook’s IPO probably put in bids at $38 and $40 per share as the stock threatened to fall below the $38 offer price during the May 18 trading debut, according to a blog post by economists Thomas Eisenbach and David Lucca.

Foursquare’s Dennis Crowley Talks About Hurricane Sandy’s Impact on NYC Start-Ups (AllThingsD)
While stranded in Hurricane Sandy-soaked Manhattan this week, I got a chance to chat with Foursquare co-founder and CEO Dennis Crowley about the impact of the epic storm on his social check-in company and other start-ups in New York City.

The Weather Channel’s Jim Cantore on how social affected Sandy coverage: ‘Nothing travels faster than the news on social media (LostRemote)
Surreal is the only way to describe the past 24-hours in NYC. While the city’s still in a bit of shock and hundreds of thousands in Manhattan alone are still without power, a sense of “the show must go on” is in the air. We caught up with The Weather Channel’s Jim Cantore in Battery Park in Manhattan to discuss social media and “one of the five costliest disasters out there,” Hurricane Sandy.

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How Facebook Can Survive as a Business

Since the launch of its IPO, pundits have been predicting the downfall of Facebook. However, it is sitting on some gold mines and I don’t think the 900 million-strong social network is going anywhere anytime soon.

Social Media Newsfeed: Facebook Fallout | New Digg | Tumblr ‘Holmies’

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Facebook Losses Slice UBS Profits (The Wall Street Journal)
The fallout over Facebook’s initial public offering escalated Tuesday as UBS AG went on the attack against Nasdaq OMX Group, blaming the stock-exchange operator for trading flubs that erased a sizable chunk of its second-quarter profit. The Swiss banking giant, in its earnings release on Tuesday, accused Nasdaq of “gross mishandling” and said it would begin legal proceedings to recoup all of its losses related to the problems, totaling $356 million. Reuters UBS did not fully explain why its losses were 10 times worse than other market makers, raising questions about how much liability Nasdaq could actually face. Meanwhile, Facebook shares fell to a new all-time low Tuesday, touching $21.61 in afternoon trading. Los Angeles Times The bank’s losses, and its determination to take legal action, could complicate Nasdaq’s plans to compensate brokerages that lost money in the much-hyped offering. Nasdaq last week filed a plan with the Securities and Exchange Commission to offer $62 million to repay investment firms that lost money in the process. TechCrunch One hundred two million people accessed Facebook solely from mobile in June, a massive 23 percent increase over the 83 million mobile-only users in March. And almost 19 percent of its 543 million monthly mobile users don’t even visit its desktop site. CBS News A photo of Mitt Romney on Facebook is at the center of a recent domestic abuse case in Tennessee. Lowell Turpin, 40, accused his live-in girlfriend of having an affair with a man he did not recognize in a photo on her Facebook page. continued…

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Facebook is dying.

With the first financial report posted since Facebook went public, is time nearly up for the behemoth social network? And is this the first sign of a bubble bursting within the information economy?... "The prophets have spoken, the returns are in, turnover and profits are down and Facebook, my friend, is dying."

Facebook CTO Leaving | Tumblr to Release iOS App | Social Media and Athletes

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Chief Technology Officer Bret Taylor Leaving Facebook (AllFacebook)
Facebook Chief Technology Officer Bret Taylor announced that he will leave the social network later this summer to start a company with Kevin Gibbs, founder and tech lead of the Google App Engine and creator of Google Suggest. Taylor joined Facebook in 2009 as director of platform products, and he was promoted to CTO in June 2010. PC Magazine The Stanford-educated Taylor previously worked as CEO of FriendFeed. He also served as an entrepreneur-in-residence at Benchmark Capital, and as a group product manager with Google, according to his LinkedIn profile. AllThingsD The move is likely to be of concern to some over the newly public company’s ability to hold onto entrepreneurial talent, especially in the wake of continued intense media and investor scrutiny over its rocky IPO last month. That’s especially true since Taylor has been in charge of both platform and mobile efforts at Facebook, a critical arena for it. The Wall Street Journal “I’ve really enjoyed working with Bret and getting to know him as a friend and teammate. I’m grateful for all he has done for Facebook and I’m proud of what he and his teams have built. I’m also proud that we have a culture where great entrepreneurs like Bret join us and have such a big impact,” Facebook co-founder and CEO Mark Zuckerberg said in a statement. A pair of Facebook executives under Taylor — Mike Vernal and Cory Ondrejka — will be taking over platform and mobile duties, respectively. TechCrunch Taylor’s is one of the first in a wave of Facebook departures TechCrunch is hearing, as a slew of older employees have hit their four-year stock cliffs, and the 90-day IPO lockout fast approaches. According to a source, many Facebook employees including one other executive are already planning what to do next. continued…

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