"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.
Bizarre hacking incident comes to a happy conclusion
Naoki Hiroshima, original owner of the @N handle on Twitter, claims he routinely fielded offers for his coveted username, including one that was as high as $50,000. People have also tried to steal the rare username from him, though those attempts were unsuccessful until a hacker applied some social engineering skills to ultimately force him to hand it over. It's a bizarre story that involves ineptitude on the part of both GoDaddy and PayPal, though there's a happy ending -- Hiroshima has his username back.
Patent deal with IBM puts to rest previous litigation
Twitter, the popular microblogging service that's now a publicly traded company, no longer has to defend itself against patent infringement claims brought on by IBM. Rather than battle one another in court, Twitter went and purchased 900 patents and signed a cross licensing agreement with IBM. Financial terms of the agreement, which was inked last month and announced today, were not disclosed.
Menlo Park, we have a problem. Users are reporting issues with posting status updates to Facebook this morning, as apparently a sitewide error is disrupting the service. Not only are some users hampered from posting status updates, they also can't send messages, upload photos, or even "Like" posts. In other words, for those affected, the interactivity portion of Facebook is not working.
Professional networking site LinkedIn recently found itself the recipient of a class action lawsuit alleging that the company has been hacking into its users' email accounts and downloading their contacts, which it would then use to send out marketing materials. Furthermore, the lawsuit alleges that LinkedIn essentially impersonates its users. Blake Lawit, Senior Director of Litigation at LinkedIn, denied the accusations in a blog post.
A rough draft on connecting the planet's population
Facebook founder Mark Zuckerberg is ambitious, if nothing else. Whether you're into the social networking scene or not, you have to credit the whiz kid for building the world's largest social playground with over a billion active users around the globe. That's impressive, but it pales in comparison to what he wants to do next. The social star now wants to connect every person in the world to the Internet, and he has a plan to get it done.
Some still contend that Google+ is a ghost town, a social playground largely devoid of active participants. Others, like Google's Senior Vice President Vic Gundotra, see Google+ as "the fastest-growing network thingy ever." Backing up his claim with numbers, Gundotra claims Google+ is home to 500 million people overall and 235 million active users who are +1ing apps, hanging out in Gmail, and connecting with friends in search. Some 135 million are active in just the stream, Vundotra says.
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?
For a period of time yesterday, Facebook's value topped $102 billion when 150,000 of the company's Class B common stock traded at $44 each in a private auction hosted by SharesPost. As of this morning, Facebook shares are trading at $42 each in the private market, valuing the social networking site at a slightly less obscene $97.9 billion.