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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

Last week at The Fonecast: 11th February 2013

WiFi goes on the attack

Mark Bridge writes:

Mobile networks aren’t what they used to be. As last week’s interview with Vince Russell of The Cloud demonstrated, more and more customers are relying on WiFi to augment their mobile data service.

Truphone is now planning to do exactly the same with voice calls and text messages by linking its mobile network with WiFi for even wider coverage.

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Last week at The Fonecast: 4th February 2013

Goodbye RIM, hello BlackBerry

Mark Bridge writes:

Apple launches a new product and BlackBerry pushes it out of the headlines. Who’d have thought it, eh?

Yes, Apple’s new $799 128GB iPad didn’t get much of a mention in the mobile press last week - thanks to the new BlackBerry 10 platform and two new smartphones. Memories of Stephen Bates’s awkward BBC interviews were soon forgotten as the touchscreen Z10 appeared and quickly hit the shelves of UK retailers.

Author: The Fonecast
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HTC smartphones are too good

HTC smartphones are too good

Causing HTC a serious headache

James Rosewell writes:

During December 2012 in the United States the HTC Evo 4G contributed 20% of web traffic from HTC devices. What is remarkable about this figure is that the HTC Evo 4G was first released in June 2010 and is almost three years old.

The HTC One series of devices were released during 2012 and contributed less than 10% of HTC’s web traffic in the same month.

Are HTC devices released pre-2012 too good at browsing the web?

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Future smart devices will extend our senses

Faiza Elmasry of voanews.com writes:

Imagine shopping for clothes online and being able to run your hand across the screen on your computer or smartphone to feel the fabrics. That kind of simulation technology could be available within the next five years.

Author: The Fonecast
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Discover the secrets of mobile innovation at The Mobile Academy in London

Mark Bridge writes:

Developing a successful mobile product or service isn’t just a question of having a great idea. There are all sorts of challenges, from the technical aspects of application development to the wider issues of branding and funding.

That’s where The Mobile Academy steps in. It’s a London-based mobile masterclass designed to give you a helping hand with innovation, whether you’re an entrepreneur, a business owner, a developer or a designer.

Author: The Fonecast
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