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.
Mike Lazaridis, the Greek Canadian businessman who founded Research In Motion (RIM) and recently stepped down as the company's co-Chief Executive Officer, is putting his money where his mouth is. Lazaridis wholeheartedly believes big things are in store for RIM, and while it might be easy to dismiss his outwardly optimism as mere lip service, his investment of an additional $50 million in company shares speaks louder than words, though he had a few of those to spend as well.
Seven men connected by friendship or business association were arrested this week for allegedly participating in insider trading, the Federal Bureau (FBI) of Investigation announced in a candid press release. These latest arrests are the most recent developments in "Operation Perfect Hedge," the FBI's systematic targeting of insider trading in the hedge fund industry that began more than four years ago.
The topic of Facebook becoming a publicly traded entity is increasingly a matter of "when" and not "if," and if we're to focus on the former, the most likely answer is sooner rather than later. Nailing down an exact time frame has been difficult. Mark Zuckerberg isn't exactly approaching an IPO with any sense of urgency, though as competition heats up with Google and its Google+ platform, going public may be more important than he realizes.
AVG is well regarded in tech savvy circles for serving up generally capable free antivirus software, as well as a line of paid security products with more advanced features. It's a freemium model that's worked well for the company, and because AVG's antivirus software has remained fairly solid throughout the years, it's built a positive reputation for itself, one that might be worth a whole lot of money.
Some in the blogosphere have taken notice that AMD director Claflin Bruce L. sold off 3,447 shares of Advanced Micro Devices, as reported in an SEC filing on Friday. Claflin, who served as 3Com's CEO prior to joining in August 2003, was listed as the Sunnyvale chip maker's "Director" within the filing rather than his full title of Executive Chairman of the Board.
The company responsible for Farmville, Mafia Wars, and several other popular social games is finding out that nothing's guaranteed in the second coming of the dot-com bubble. Zynga shares began trading today, and at first, it looked as though Zynga would follow in the footsteps of Groupon, LinkedIn, and other social sites that have gone public and exploded on the stock market.
According to sources inside the company, Facebook CEO Mark Zuckerberg nearly set kicked off full-scale pandemonium at the Facebook offices when he recently told employees the long-awaited IPO was coming soon. Facebook has been teasing the market for the better part of a year with speculation that it would file its S-1 papers and sell stock publicly. For employees, that would mean a chance to finally cash in on all that stock.
A new report details some seriously shady practices at FarmVille maker Zynga last year. Apparently the firm was using large batches of stock to entice the hottest talent in silicon valley to join up. This is fairly common in tech start-ups. However, in the process for planning it’s impending IPO, Zynga CEO Mark Pincus became worried they had given out too much stock. His solution was simple: force employees to give it back.
While Everquest and Ultima Online helped define MMORPGs, World of Warcraft is the game that most people think of when the genre is mentioned. But could its heyday in the sun be coming to a close after all these years? A Reuters report released late last night would have you believe so: its headline trumpeted “World of Warcraft loses steam” and the article went on to describe how Wall Street investors kicked Activision Blizzard after it said that the game lost almost 1 million subscribers in the past quarter. We actually read the report, though, and we’re calling it nothing but FUD.