Why Facebook bought Instagram on the way to its $100-billion IPO
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Twitter launches legal assault on tweet spammers
NEW YORK (CNNMoney) — Twitter is cracking down on spammers. The company on Thursday filed a lawsuit in federal court in San Francisco against five of its most aggressive spam enablers. The defendants include JL4 Web Solutions, based in the Philippines and referred to in the suit as “TweetAttacks.” Other defendants include Tennessee-based Skootle Corporation, [...]
Read MoreDid Facebook panic?
Why Facebook is buying Instagram. Last week, mobile photo-sharing site Instagram raised $40 million from venture capitalists at a $500 million valuation. Today, the company agreed to be acquired for $1 billion by Facebook. So what happened in the intervening days? For starters, the venture capital round had been in the works for more than [...]
Read MoreLousy jobs report sends stocks lower
NEW YORK (CNNMoney) — U.S. stocks sold off Monday, the first trading day following a disappointing jobs report last week. The Dow Jones industrial average (INDU) was down 114 points, or 0.8%, in afternoon trading. The S&P 500 (SPX) tumbled 15 points, or 1%, and Nasdaq (COMP) slid 31 points, or 1%. On Friday, [...]
Read MoreFacebook acquires Instagram for $1 billion
NEW YORK (CNNMoney) — Facebook has agreed to buy photo sharing network Instagram for $1 billion in a combination of cash and stock, the company announced Monday. It’s Facebook’s biggest acquisition ever, in both price and reach. With around 30 million active users, Instagram has the largest audience of any startup Facebook has purchased, [...]
Read MoreFacebook’s patent headaches: More to come?
Yahoo filed a patent suit against the social media giant. Does Amazon have a case too? By Roger Parloff, senior editor FORTUNE — Last month, just weeks ahead of Facebook’s highly anticipated IPO, the “it” company of the Internet got hit with a meaty patent suit. Struggling behemoth Yahoo sued Facebook in federal court, alleging that it [...]
Read MoreThe problem with Zynga’s growth
Zynga has a short but rich history of defying expectations — including its stock price which is up. So why are people so bearish on the social gaming company? By Kevin Kelleher, contributor FORTUNE — Zynga (ZNGA) has a short but rich history of defying expectations. Last summer, Zynga was expected to be worth as [...]
Read MoreMust you give a job interviewer your Facebook password
Asking candidates for social media passwords may soon be illegal in some states. In the meantime, here’s how to say “no” gracefully. FORTUNE – Dear Annie: What’s all this I hear lately about job interviewers requiring applicants to hand over their Facebook passwords? I’ve been job hunting for about three months. (I’m working now, but not thrilled [...]
Read MoreFacebook strips ‘privacy’ from new ‘data use’ policy explainer
NEW YORK (CNNMoney) — A Facebook data policy document intended to make the site’s methods more transparent is instead kicking up a fresh firestorm. Facebook made a significant but little-noticed change to its privacy policy on Sept. 23, wiping out the word “privacy” and rebranding it as a “data use” policy. Late last week, [...]
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