SEC questioned Facebook about Instagram, mobile devices before IPO
Sat, 06/16/2012 - 03:00 EDT - LA Times
As Facebook Inc.'s much-anticipated public stock offering approached, federal regulators wanted to know more about the revenue it gets from mobile devices, its $1-billion deal to buy Instagram and the control that Chief Executive Mark Zuckerberg has over the company.
As Facebook's much-anticipated public stock offering approached, federal regulators wanted to know more about the revenue it gets from mobile devices, its $1 billion deal to buy Instagram and the control CEO Mark Zuckerberg has over the company
Marissa Mayer is buying companies like it’s 1999.
The Yahoo! Inc. chief executive officer yesterday announced the company will acquire blogging network Tumblr Inc., part of a plan to restore the Web portal to its heyday as an Internet darling. With US$13-million in sales last year, Tumblr’s US$1.1-billion price tag represents the richest valuation for a dot-com company since 2000, according to data compiled by Bloomberg on deals for which revenue figures are available.
Yesterday, the world learned that Facebook is close to buying user-generated mapping company Waze for about $1 billion. This news has many people scratching their heads, wondering what Facebook is thinking.
Lately, Facebook has been making a lot of defensive moves. The social network which once wowed us with product launches like Timeline and News Feed now seems to be scared of fast-growing startups, and it's losing focus.
Facebook announced today it will buy messaging app WhatsApp for $19 billion in cash and stock. Facebook says it's buying WhatsApp because the startup has over 450 million active users and still growing. Both companies say they have similar missions, which is to connect as many people as possible. Here's Facebook's announcement explaining why it made the deal:
Facebook CEO Mark Zuckerberg admitted on Wednesday that the Facebook Home Android app, launched with much fanfare six months ago, is not a success. "Home is slower rolling out than I would have hoped," Zuckerberg said on stage at the TechCrunch Disrupt conference.
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.