Uncle Sam was all set to collect around $600 million from Brazilian Eduardo Saverin, the other co-founder of Facebook who will make another fortune off of the world's most popular social playground when it makes its initial public offering (IPO) on Friday. But rather than fork over all that money, Saverin decided to renounce his U.S. citizenship, a process he began back in September 2011.
Facebook's $1 billion adopted baby is growing up fast and may end up making the social networking site look like savvy parents with an real eye for potential rather than a silly entity that spent ten figures on a camera app with social features baked in. Before we get too far ahead of ourselves, however, let's look at what Instagram has done, starting with its fast growing userbase.
Different people handle breakups in different ways. Some might find it appropriate to stand outside their ex's home and blast Peter Gabriel's "In Your Eyes" from an outstretched boombox. Others simply move on, perhaps glad the experience is over with. But there's always that one person who does something completely inappropriate like, say, posting nude photos of their ex on Facebook, a decision that earned a scorned Australian lover a six months home arrest sentence.
When Mark Zuckerberg made the move to acquire Instagram for $1 billion -- Facebook's largest acquisition ever, and one that Zuckerberg negotiated almost entirely on his own without involving his board of directors, according to a report in The Wall Street Journal -- he may have tipped his hand and revealed how much the world's largest social playground is worth. That figure? At least $75 billion, if you can believe it.
Many B-rated horror flicks end with the good guys destroying some kind of monster, literal (like a flesh eating beast from hell) or figurative (deranged serial killer), with the camera then panning down to the creature. Right before rolling to credits, an eye opens or a arm twitches to let the viewers know it's still alive, ensuring a sequel is in order. Such is the case with SOPA and PIPA, the controversial privacy bills that were essentially destroyed by an angry Internet mob, only we didn't really kill it completely.
Late last week, we told you that Razer offered to shine some love down on the left-handed stepchildren in the world and whip together a southpaw Naga MMO mouse if 10,000 people Liked the concept post over on Facebook by April 21st. Well, it didn't take long -- the same day we posted the news, the Facebook page shattered the 10K Like mark, and Saturday Razer announced that it was rolling up its left shirt sleeve and getting to work.
An old saying says that few people go as unloved as left-handed stepchildren. Things don't get better for those poor, uncared-for souls as time goes on, either; when they grow up and try to get their World of Warcraft on, left-handed stepchildren quickly find themselves just as shunned by most gaming peripheral makers. We're not sure which hand Razer boss Min-Liang Tan writes with, but he's definitely thinking of the chil… um, left-handed gamers out there with his offer to create a southpaw Naga MMO mouse if the concept gets enough Facebook love.
Do you remember what you were doing in 1987? It was the year the Simpsons appeared for the first time as a series of shorts on The Tracy Ulman Show, Bow Wow was born, and both Larry Bird and Magic Johson were still in the NBA. It also happens to be the year an incident led to the Video Privacy Protection Act (VPPA), which was enacted a year later, nearly a decade before Netflix was founded and 16 years before Facebook launched. Yet this quarter-of-a-century old legislation is the reason why Netflix hasn't released a Facebook app in the U.S.
Usually, it takes far-reaching government bills or the mention of DRM to prod geeks into picking up their proverbial torches and pitchforks and expressing outrage en masse, but Wednesday's news of employers asking job applicants for their Facebook passwords caused a crapstorm of Netflix-price like proportions. Turns out, everyday folks aren't the only ones angry about it: a Connecticut Senator and Facebook itself whipped out threats of legislation and lawsuits, respectively, if the privacy-invading practice continues.
We get it, nearly everyone's on Facebook these days, some of whom reveal a little too much about themselves. You should be careful what you post. Why? Because employers check Facebook profiles of prospective job hires; that's old news. Alternately, go nuts with what you post and be selective in the people you allow to view your profile. But what happens when an employer asks for your username and password during a job interview?