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
What does Mark Zuckerberg think he’s doing, spending $2 billion on Oculus? You could take him at his word — that he sees virtual reality as “a new communication platform” where “truly present” people “can share unbounded spaces and experiences”. Basically, virtual is the new mobile, and Zuckerberg wants to get in on the game early.
As you know, Facebook acquired a mobile messaging startup called WhatsApp for an eye-popping $19 billion price tag.
Some folks say it was a smart move — an efficient way to capture a huge global audience and ride the mobile “mega-trend.” Others say it reeks of desperation, an acknowledgement that youngsters are storming the exits at Facebook.
Whichever camp you’re in, one thing is clear: As an investor, it’s a wake-up call to focus on the mobile mega-trend. Let’s take a look at three ways to ride this mobile wave for profits.
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.
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.
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.
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.