Internet, Social Media | featured news

Facebook shares scraped a new low
Tuesday. The new drag on the already leaden stock:
Analysts from two of Facebook’s largest
underwriters on its botched initial public
stock offering cut their price targets.

Facebook Inc promised not to sell stock to cover a nearly $2 billion tax bill and said it will allow employees to cash in their stock weeks ahead of schedule, moving to soothe nervous investors and its own staff as its share price spirals downward.

Reddit, built on open-source software and guided by the ethos of its community of 20 million users a month, is a classic Web start-up in which opportunity seems mixed with barely controlled anarchy.

A registered sex offender has been arrested after the mother of the girl he was dating set up a Facebook sting.

Facebook is weeding out fake "Likes" on its social network that are being caused by spammers, malware and black marketeers as it strives to maintain credibility as an advertising platform. Facebook said the number of Likes, or endorsements by users, on corporate pages is likely to drop by less than 1 percent, on average, after the crackdown.

Facebook Inc. received final approval Wednesday for its purchase of photo-sharing application Instagram Inc., clearing the way for a cash-and-stock deal that has lost about a quarter of its value since an agreement in April.

In another social-media first, President Barack Obama took to Reddit today to become the first sitting head of state to moderate the site's "AMA," or, ask me anything, series. 
The chat lasted an hour, and got so much attention that it shut the site down during his post. 

Zynga said Chief Creative Officer Mike Verdu has decided to leave the social gaming firm, one of several recent departures at the company as it has faced an erosion of investor confidence.

With the value of its shares down over 50 percent since its highly anticipated IPO, is the company making a hash of the public relations disaster it is now facing; and, just as important, why has Zuckerberg remained quiet about the state of the company?

Facebook's beleaguered stock has lost more than half of its value since its initial public offering three months ago. Facebook Inc. hit a new low of $18.75 before bouncing back to $19.01 - down 4 cents - in morning trading Monday. The social networking icon's much-anticipated IPO turned sour amid technical problems on the NASDAQ stock market and high expectations. The stock has not surpassed its $38 IPO price since its first trading day.