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Friday, May 18, 2012

Facebook starts public sale of its stock

Report from voanews.com:

FacebookFacebook, the world's biggest social media website, started selling stock to the public on Friday, with its initial $38 share price edging above $40 in the first hours of trading.

Facebook’s chief executive, Mark Zuckerberg, signaled the start of trading on the Nasdaq exchange in New York by remotely ringing a bell from company headquarters across the continent in California.

The popular social networking site, with 900 million users worldwide, raised about $16 billion from the stock sale. That is one of the biggest stock debuts in U.S. corporate history and rivaled only by financial services company Visa and automaker General Motors. The stock offering drove Facebook’s value to at least $104 billion, making it one of the most valuable U.S. companies.

But contrary to some investors’ hopes, the stock price did not soar in the first day’s trading. The share price stayed in a relatively narrow range, topping $42 at one point, then falling back to the opening $38 level before settling above $40 in mid-afternoon trading.

Zuckerberg, who turned 28 earlier this week, started the popular social networking site just eight years ago in his college dorm room at Harvard. As investors bought shares, they became part owners of the company, but Zuckerberg will still control more than 55 percent of Facebook's voting stock.

Some analysts expect millions of Facebook shares will be purchased in the first hours of trading because of the high demand to own part of such a ubiquitous and recognized product. The stock is being traded under the symbol “FB.”

But others are advising clients to wait and see whether the company can still continue to grow and how much advertising it can sell before buying shares.

Facebook’s advertising revenue growth has slowed in recent months, and doubts about its long-term viability were heightened earlier this week when General Motors announced it was pulling its paid advertising off the website.

Facebook has also yet to devise a strategy to attract advertising on mobile devices like smartphones or tablet computers.

Originally published on voanews.com
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Opinion Articles

giffgaff has an official voice worth listening to

Mark Bridge writes:

Yesterday I spotted a new blog page from O2-supported MVNO giffgaff. The company’s head of digital marketing Rob Gotlieb announced the finished version of a promotional film – and mentioned the official voice of giffgaff, voiceover artist Tom Oldham (who, interestingly, was also the voice on Vodafone ads at one point). And for a moment I thought “Official voice?  You what?”

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Mobiles go meddling in medicine

Mark Bridge writes:

“Okay, Mr Bridge, just relax. This won’t hurt a bit. I just need to… oh, hold on a moment, my phone’s crashed. I’ll just pop the battery out and we can start again.”

Some years ago I read an article in Fast Company magazine. Entitled “They Write the Right Stuff”, it explained how NASA’s software engineers couldn’t afford to make errors because any mistakes were likely to kill their colleagues.

That need to check, double-check and then check again was also one of the reasons the space agency ended up looking on eBay for tried-and-tested obsolete components. But now things seem to be swinging towards the opposite end of the scale.

Author: The Fonecast
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I want a mobile wallet - and I want it NOW!

Mark Bridge writes:

A few months ago James wrote about the slow adoption of mobile and contactless payments in the UK. Now we hear that Kenya’s M-PESA mobile money transfer service has arrived here. Yes, m-payments are finally going mainstream in the United Kingdom. Well, sort of. Well, alright, not at all really. What’s happened is that people in the UK are now able to send money to M-PESA users in Kenya. But what about the progress of mobile payments in the UK?

Author: The Fonecast
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Which mobile operating system will top the charts at Christmas?

James Rosewell writes:

It seems to be accepted that the Apple iPhone will be the top selling mobile phone this Christmas now it’s available on almost every UK network. The more interesting question is which handsets will hold the number 2 to 5 positions - and what operating system will they be running when the smartphone scores are announced in the new year?

Microsoft announced Windows Phone last week and I commented on the importance of persuading their heartland fans to move from iPhone and other platforms to Windows Phone. Disappointingly, finding a mobile retailer willing to sell a Windows Phone is not easy at the moment. Orange tell me they’ve withdrawn the one model they were going to offer from Toshiba. Vodafone didn’t even know what a Windows Phone was.

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Life is toooo complicated!

Iain Graham writes:

I have just bought (well, been given) a new mobile phone!  It, of course, cost me nothing, because we still haven't learnt in this industry, but it came with the now obligatory, shrink-wrapped, 140-page instruction manual on how to use it!!  A perfect cure for insomnia!  I read the opening page or two and it might as well have been written in Serbo-Croatian for all the sense it made to me!!  (I then realised it WAS written in Serbo-Croatian and so I turned to the correct language section) and it was just as incomprehensible!

Even worse, the manufacturers (who are too tight to pay for the printing in the name of 'going green') put the instruction manual on a CD!!

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