You don't need to pity Mark Zuckerberg, the billionaire whiz kid who may have gotten himself in over his head when taking the world's largest social playground to the stock market. As in, way over his head. He'll be okay. But that $38 IPO price, which was supposed to be just the beginning of a much, much higher number? It seems like a distant memory just four short months later. For one reason or another, Facebook's share price keeps moving further away from its IPO price, having started the week off by dropping more than 9.1 percent to $20.79 on Monday. Today it's down slightly more, and some are saying it could fall to $15.
In Mark Zuckerberg's relentless effort to improve the world's largest social playground, Facebook is waging war against bogus "Likes" that may have originated from false accounts. This isn't something that will affect the average user, but it will eliminate Likes gained by malware, compromised accounts, and other nefarious means, the company recently announced.
Facebook is a great place to follow the lives of friends, and family, but it’s also an amazing repository of your personal information. Even casual users would be surprised how much data they have poured into the service over the years, and now you finally have a way to put it into perspective. Wolfram Alpha, the world’s greatest computational knowledge engine, has launched a service that will reduce your Facebook social life to a series of mathematical charts.
Whether you're a fan of the stealth design or not, you have to hand it to ECS for thinking outside the box on this one. The company posted on Facebook a picture of its X79R-AX Stealth, currently a concept motherboard unique in the fact that the majority of the printed circuit board (PCB) is hidden beneath a shroud that protects all the digital bits from damage, dust, and everything else.
For all the hype leading up to Facebook's Initial Public Offering (IPO) in May of this year, it's somewhat hard to believe the social networking site is performing so poorly in the stock market. It's not shocking that Facebook hasn't lived up to all those inflated valuations that came courtesy of hefty private investments before being traded on the public market, but would you have guessed it would become the second worst performing IPO post share lock-up? Let us explain if you don't know what that means.
In a 3-1-1 vote (three approvals, one dissent, and one not participating), the Federal Trade Commission (FTC) has accepted final terms of a settlement with Facebook to resolve charges that the social networking site engaged in deceptive privacy practices. Terms of the settlement do include a monetary fine, as was the case with Google, which agreed to pay a record $22.5 million penalty to the FTC to settle a different set of alleged privacy violations.
Facebook's much anticipated initial public offering (IPO) turned out to be a pretty big disappointment, and things have only gotten worse since then. The social network's share price fell to $20.88 by the end of Wednesday's trading session, which is 45 percent below its IPO price of $38 and a new low price, dipping below the previous low of $21.61, which occurred a day earlier.
Confidence in Mark Zuckerberg's ability to navigate his social networking ship through rough financial waters is beginning to waver. Investors reacted negatively to Facebook's second quarter financial report, sending shares of the social network down almost 15 percent in after market trading, after it had already dipped 8 percent during regular trading hours on Thursday.
Shares of Zynga plummeted 40 percent to $3.03 in after market trading after the social game developer reported a net loss for its second quarter ended June 30, 2012. Zynga tried to put a positive spin on the fact that its Q2 revenue of $332 million represents a 19 percent year-over-year increase and that its six months year-to-date revenue of $653 million is a 25 percent year-over-year increase, but the numbers still added up to a $22.8 million net loss for the quarter, and a $108.1 million net loss for the six month period.
Could you imagine trying to pitch Chatroulette integration in Facebook to Mark Zuckerberg? It wouldn't fly, not when the billionaire 28-year-old is trying to open up access to his social playground for kids under the age of 13. But a clean version of Chatroulette? That's Airtime, a new live social video network put together by Napster founders Sean Parker and Shawn Fanning.