Posted: March 1st, 2013 | Author: Marcus Dangerfield | Filed under: Kiss My . . ., News From the web | Tags: Andrew Mason, facebook, Groupon, Mark Zuckerberg | No Comments »
The group shopping website Groupon has fired its chief executive and co-founder as the company struggles to turn around its poor earnings and crumbling share price.
On the day its stock slid 24 per cent after reporting dismal quarterly results, the daily deals company said Andrew Mason was asked to step down.
In an unusually candid letter to staff, Mr Mason confessed he was getting in the way of the company he co-founded just a few years ago and had failed in his role as leader.
“After four-and-a-half intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today. If you’re wondering why… you haven’t been paying attention,” Mr Mason wrote in a memo to staff.
“From controversial metrics in our S1 to our material weakness to two quarters of missing our own expectations and a stock price that’s hovering around one quarter of our listing price, the events of the last year and a half speak for themselves. As CEO, I am accountable.”
Co-founder Eric Lefkofsky and board member Ted Leonsis will lead the company until a permanent chief executive is found. Groupon declined to comment on potential candidates :: Read the full article »»»»
Posted: October 5th, 2012 | Author: Verity Penfold | Filed under: Facebook, Standout | Tags: facebook, Facebook Mobile Users, Facebook One Billionth User, Mark Zuckerberg, social network site | No Comments »
Facebook reckons it now has more than one billion users, serious bragging rights by anyone’s standard.
However, some analysts still have serious worries about how the social network site can make money from members.
Co-founder and Head Honcho Mark Zuckerberg made the announcement yesterday, saying the number is “humbling”.
“This morning, there are more than one billion people using Facebook actively each month,” Zuckerberg said in a statement. ”Helping a billion people connect is amazing, humbling and by far the thing I am most proud of in my life.”
The social network site reached one billion monthly active users on September 14, according to Zuckerberg. The wizbang number is slightly lower but equally as impressive, according to Zuckerberg Facebook has 600 million mobile users :: Read the full article »»»»
Posted: May 4th, 2012 | Author: Michael Courtenay | Filed under: Facebook | Tags: Amazon, facebook, IPO, Mark Zuckerberg | No Comments »
Facebook plans to raise as much as $12 billion from its initial public share offering, dwarfing the coming-out parties of tech companies like Google.
The eight-year-old social network that began as Mark Zuckerberg’s college dorm room project has priced its initial public offering at between $28 and $35 a share.
This will see Facebook attain a valuation of as much as $95.9 billion at the high end and grant the world’s largest social network a market value close to Amazon.
If an over-allotment or “greenshoe” option is triggered, Facebook could end up raising close to $13.6 billion, according to a prospectus.
Investors are expected to flock to the highly anticipated IPO, though some have voiced concerns about Facebook’s longer-term growth :: Read the full article »»»»
Posted: April 26th, 2012 | Author: M.Aaron Silverman | Filed under: Facebook | Tags: facebook, IPO, Mark Zuckerberg, NASDAQ, Profits | No Comments »
Facebook has reported a fall in quarterly profit despite surging revenue. The social networking behemoth recently bumped up spending on research, acquisitions and promotion before its stock market debut, which is expected to come next month. The company also blamed the result on seasonal advertising trends.
Facebook’s net income dipped 12 per cent to $US205 million in the three months to March from $US233 million in the same period last year.
Although revenue jumped to $US1.06 billion, which was a rise year-on-year, it was down about 6 per cent from the preceding quarter, the first quarter-on-quarter drop since at least 2010.
Facebook is preparing to raise at least $US5 billion in the largest initial public offering by an internet company on Wall Street that could see it valued at up to $US100 billion.
The company will trade under the symbol “FB” on the Nasdaq, it said in paperwork filed with the United States Securities and Exchange Commission :: Read the full article »»»»
Posted: April 10th, 2012 | Author: Michael Courtenay | Filed under: Facebook | Tags: facebook, Instagram, Mark Zuckerberg | No Comments »
That other internet behemoth – Facebook – has announced a $US1 billion deal to buy popular smartphone photo-sharing app Instagram.
The big ticket purchase was seen by some as a move by Facebook to strengthen its defences against Google and newcomer Pinterest in the weeks ahead of what promises to be a history-making stock market debut.
“For years, we’ve focused on building the best experience for sharing photos with your friends and family,” Facebook co-founder Mark Zuckerberg said in announcing the deal.
“Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.”
Zuckerberg called the acquisition “an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users” :: Read the full article »»»»