Over the last year, Facebook CEO Mark Zuckerberg has repeatedly emphasized his company’s social mission, “to make the world more open and connected.” It turns out that he’s interested in building a lucrative business as well. After Facebook’s surprisingly strong earning report, highlighted by impressive performance generating mobile revenue, the company’s shares skyrocketed by 20% on Wednesday, in the largest one-day gain since the company went public back in May.
Fred Wilson, founder of Union Square Ventures and a Silicon Valley investor who has backed Twitter, Tumblr, Foursquare, and Kickstarter, says in a blog post today that the IPO market for tech companies with multi-billion-dollar valuations may be "disappearing."
Trial lawyers smelled blood as furious investors began filing suits over losses on Facebook's disastrous $16 billion IPO, with billions of dollars possibly at stake in coming litigation.More than a half-dozen law firms specializing in investor complaints said they were launching class action suits against the social networking giant and its underwriters.
Formerly known as Buy360, JD.com is an online retailer that can be compared with Amazon.com, Inc. (AMZN). The company has over 45 million active customer accounts, and warehouses and delivery stations that span the length and breadth of China. The company holds inventory and directly delivers products to consumers, managing the entire process from start to finish.