"We had a good second quarter." - Mark Zuckerberg with the understatement of the year
It took a bit of time for Facebook to gain some traction in the stock market after filing for an Initial Public Offering (IPO) a little over two years ago, but it certainly appears the world's most popular social network has found its stride. Leaving little doubt of that, Facebook sprinted past analysts' expectations by reporting $2.9 billion in revenue for its fiscal second quarter ended June 20, 2014.
Ever wondered how social networks can impact your emotions? So did a Facebook data scientist and two other researchers who conducted a study that was recently published by The Proceedings of the National Academy of Sciences (PNAS). Facebook's controversial study has drawn outrage from many of the site's members because it played with people's emotions without their knowledge or consent.
Oculus Rift will virtualize the ticket blaster experience
If you've ever been to a Chuck E. Cheese birthday party before, then you're familiar with the Ticket Blaster -- a phone booth sized contraption filled with single tickets, plus a special 1,000 ticket piece of paper. The kid celebrating his or her birthday gets to slip inside and try to grab as many tickets as possible as a vortex of wind swirls them around. Kids love it, but at select locations, Chuck E. Cheese will create a virtual Ticket Blaster experience using the Oculus Rift.
Facebook recently announced the addition of a new feature called Nearby Friends to its Android and iOS apps. No prizes for guessing that the new feature, which is thankfully optional, lets Facebook users discover friends who are nearby.
“Facebook gives us the resources we need to develop a lot of custom hardware.”
Maximum PC’s Jimmy Thang caught up with Oculus VR founder Palmer Luckey to talk about the Oculus Rift at this year’s PAX East. A very tired Luckey talked about the potential for virtual reality technology to replace TVs and monitors and even the acquisition by Facebook.
If imitation truly is the sincerest form of flattery, Facebook must be all shades of red from blushing. Twitter on Tuesday announced a whole new user profile, and the comparisons to Facebook's profile are inevitable. Comparison to its rival aside, the much needed revamp allows Twitter users to build a much more attractive profile by uploading a larger profile photo and and a customized header image.
Highest number of valid bug reports came from India, followed by the U.S. and Brazil
Facebook on Friday published an update on the progress of its four-year-old bug bounty program, revealing that it paid out $1.5 million in bounties last year to take the program’s lifetime payouts beyond $2 million.
Carmack speaks on pending Facebook acquisition of Oculus
Oculus chief technology officer John Carmack has offered his opinion on Facebook’s pending acquisition of Oculus for $2 billion. The deal has sparked outrage and confusion from consumers to the point that death threats have been made against Oculus co-founder Palmer Luckey while cooler heads have questioned whether or not Oculus should refund Kickstarter backers their money.
Facebook purchasing Oculus was an unprecedented acquisition. No Kickstarter company has ever been bought out by a large corporation prior to their crowdfunded project being released--at least not on the immense scale of $2 billion.
The surprising acquisition has spurred a lot of animosity from virtual-reality enthusiasts, most notably from the original Kickstarter backers.
Facebook has announced that an agreement has been reached with Oculus VR, Inc to purchase the virtual reality developer for $2 billion. Of the $2 billion being paid, $400 million of it will be in cash and the remainder will amount to 23.1 million shares of Facebook common stock valued at $69.35 per share.