Los Angeles: Facebook's website suffered sporadic outages on Thursday (Friday in some time zones), anywhere from half an hour to two hours according to various blogs, tweets and affected users, but the company said the problem has been fixed. "Earlier today, some users briefly experienced issues loading the site. The issues have since been resolved and everyone should now have access to Facebook," company spokesman Michael Kirkland told Reuters. The...
02:43 PM, Jun 01, 2012
New Delhi: About a month and a half following the announcement that it is acquiring Instagram and a week after a lacklustre IPO, Facebook has launched a camera app called Facebook Camera. Facebook says the new mobile app, initially available the Apple iPhone, will make sharing of photos on Facebook faster. Users can also see their friends' latest photos at one place. "Now you can quickly share multiple photos all...
06:15 AM, May 25, 2012
Congressional committees are holding briefings, and a group of shareholders has filed suit against the social networking giant. ...
10:11 AM, May 24, 2012
New York: Shares of Facebook fell again at the open on Tuesday as doubts about the company's valuation increased after Reuters reported that underwriters cut their revenue forecasts for the social networking site shortly before the IPO. Facebook's shares hit a low of $31.73, 7.4 percent below Monday's close, and are now trading down 17.1 percent down from their $38 IPO price. The shares are down 30 per cent from...
07:30 PM, May 22, 2012
Facebook shares sank 11 per cent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday and driving others to switch back to more established stocks. Facebook's debut was beset by problems, so much so that Nasdaq said on Monday it was changing its IPO procedures. That may comfort companies considering a listing, but...
12:47 AM, May 22, 2012
New York: Facebook's stock is tumbling well below its $38 IPO price in the social network's second day of trading as a public company on Monday. Investors and technology industry watchers are closely tracking the Menlo Park, Calif.-based company's shares. The world's largest online social network was one of the most anticipated initial public stock offerings ever, and now serves as a bellwether for other social media companies. Facebook's market...
07:57 PM, May 21, 2012
New York: Some investors who thought they had bought Facebook shares at the opening of trading were left without knowing for hours whether they had received the shares. The Securities and Exchange Commission is looking into the glitches in the trading of Facebook's initial public offering around the time of its scheduled debut Friday on the Nasdaq Stock Market. The glitches caused traders problems changing and canceling their orders. Nasdaq...
01:05 PM, May 19, 2012
Menlo Park: In Silicon Valley, where sudden wealth is hardly something new and CEOs favour hoodies over bespoke blazers, Facebook's IPO on Friday didn't bring everyday life to a halt. Employees weren't popping champagne corks at company headquarters, at least not where anyone outside could see them. And locals had plenty to do - from finding a job to locating the next Facebook. The company's sprawling headquarters along the southern...
12:52 PM, May 19, 2012
San Francisco: The historic initial public offering of Facebook Inc did not go as planned on Friday, as the social networking company's sky-high valuation combined with trading glitches left the stock languishing near its offering price at the market close. Facebook shares began trading late Friday morning and opened 11 per cent above the $38 offering price, but after peaking at about $45 slid rapidly at the end of the...
07:46 AM, May 19, 2012
Cuttack: Social networking site Facebook India was on Friday issued a show cause notice by an Odisha court for allegedly publishing libellous statements against a senior CPI-M leader of the state. Bhubaneswar civil judge Ratikanta Mohapatra issued notices to Kirthiga Reddy, head of Facebook India Pvt Ltd based at Hyderabad, and Bhabani Shankar Nayak, a professor at Glasgow Caledonian University at Scotland in UK asking them to show cause by...
12:28 AM, May 19, 2012
Facebook's initial public offering on Friday showcases the best and worst sides of capitalism. Execrable puffery accompanies the entrepreneurial achievement of transforming a dorm-room project into a company worth over $100 billion in just eight years. Poor corporate governance, Silicon Valley cronyism, breathless pundits spewing misinformation, bankers in hoodies and manic investors are all on display. And yet the flip side of such indulgence is worth admiring. Wall Street's premier...
12:13 AM, May 19, 2012
San Francisco: The historic initial public offering of Facebook Inc did not go as planned on Friday, as the social networking company's sky-high valuation combined with trading glitches left the stock languishing near its offering price at the market close. Facebook shares, which opened up 11 per cent, closed at $38.23 after a nail-biting last half hour of trading when the shares dipped to their $38 IPO price. Most investors...
12:08 AM, May 19, 2012
New York: Facebook's trading volume is surging. It passed 150 million shares traded about 15 minutes after its debut on the Nasdaq and about 200 million shares were traded within the first half hour of trading. The stock which had a offering price of $38 has peaked to $45 at the Nasdaq and the low for the day was $38.20. The stock of another Internet company, Zynga, responsible for the...
09:35 PM, May 18, 2012
New York: Facebook topped 100 million shares traded in the first four minutes after its debut on the Nasdaq. By comparison, Amazon.com has traded about 2.2 million shares today and Google about 2 million. Seven minutes after its first trade, the stock was hovering at about $40, a $2 gain over its offering price. It's Facebook's big day. The site, which was born in a dorm room eight years ago...
09:21 PM, May 18, 2012
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