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Facebook Kicking Off IPO With All-Night Hackathon

All employees are invited, and Zuckerberg will probably attend

(Newser) - Facebook is holding an all-nighter tonight, in advance of tomorrow’s IPO and its first day as a public company. The company will hold a "hackathon," a long-standing tradition involving employees working quickly on whatever they want, which has produced products including Facebook chat. It will culminate tomorrow...

Brokerages Stop Taking Facebook IPO Orders

Buying, selling frenzy expected tomorrow

(Newser) - Several brokerages have told clients that it's now too late to order Facebook shares ahead of the expected stampede when the stock goes public tomorrow. Morgan Stanley—one of the 33 underwriters of the huge IPO—is among those that have stopped accepting new orders, sources tell Reuters . Its...

Ditching US Will Save Saverin Around $67M

Pundits call the Facebook co-founder 'ungrateful'

(Newser) - Eduardo Saverin's decision to abandon the United States like an old MySpace account will save the Facebook co-founder at least $67 million in federal income tax, according to a Bloomberg analysis—and those savings will only grow in the not-unlikely event that Facebook stock soars. That's because Saverin...

Facebook Expands IPO, Could Raise $16B

Stock offering may become third largest in US history

(Newser) - Facebook's behemoth of an IPO is getting even bigger. After raising its price range , the company has now decided to expand the size of the stock offering by 25% to 422 million shares, sources tell Reuters . The IPO could now raise as much as $16 billion—dwarfing Google's...

GM Ditching Facebook Ads

 GM Ditching 
 Facebook Ads 
May 15, 2012 3:52 PM CDT

GM Ditching Facebook Ads

Effort wasn't drawing in customers, says company

(Newser) - Bad news for Facebook ahead of its IPO: General Motors, the third-biggest advertiser in the US, has decided to stop running paid ads on the site. GM execs have found the ads aren't very effective—a conclusion other advertisers have apparently reached as well, the Wall Street Journal reports....

Poll: Users Don't Trust Facebook

And they don't click on sponsored content or ads

(Newser) - Investors are going wild for Facebook, but the site's actual users are less enthusiastic about its prospects, a new AP-CNBC poll reveals. Half of respondents said Facebook was overvalued at its presumed $100 billion valuation, and that shot up to 62% among active investors. Part of the reason they'...

Facebook Ups IPO Price
 Facebook Boosts IPO Price 
May 15, 2012 5:30 AM CDT

Facebook Boosts IPO Price

Price range to be $34 to $38 after roadshow meets strong demand

(Newser) - Looks like Facebook's IPO roadshow has done a pretty good job of drumming up investor interest. The company has raised its IPO price range up to $34 to $38 a share from $28 to $35 a share, sources tell the Wall Street Journal . The new price range gives the...

Facebook Co-Founder Gives Up US Citizenship

Eduardo Saverin aims to save on taxes

(Newser) - One of the billionaire co-founders of Facebook has renounced his US citizenship in a bid to slash his tax bill ahead of the gigantic IPO. Eduardo Saverin, 30, owns about 4% of the social network—a chunk that could be worth as much as $3.84 billion, reports Bloomberg . “...

FTC Inquiry May Delay Facebook's Instagram Deal

Second-quarter date sounds 'terrifically optimistic,' anti-trust lawyer says

(Newser) - Facebook and Instagram aren't likely to finish tying the knot by the second quarter as they'd originally intended, because the Federal Trade Commission has launched a competition probe into the deal. Investigators are already collecting information from competitors like Google and Twitter, sources tell the Financial Times . Competition...

Facebook Tries Charging Users to Promote Posts

Test running in New Zealand only

(Newser) - Want to make sure your friends see your latest uber-important Facebook update? Now you can—if you live in New Zealand and are willing to drop a couple bucks. Facebook is testing a service in the country that allows users to pay between about 40 cents and $2 to highlight...

Facebook Gets Own App Store
 Facebook Gets Own App Store 
May 10, 2012 7:17 AM CDT

Facebook Gets Own App Store

But 'App Center' is more of an 'App Showcase'

(Newser) - Facebook announced its own App Center yesterday , in a move being touted as "smart" that will likely boost its influence even further. The "store" will open in the next few weeks, Fast Company reports; there will be both web and mobile versions. On CNET , Rafe Needleman calls the...

Zuckerberg's Hoodie: Gleeful Snub to Wall Street?

One analyst thinks it's a 'mark of immaturity'

(Newser) - On the first day of Facebook's IPO roadshow yesterday, Mark Zuckerberg showed up to a meeting with potential investors wearing a hoodie—a wardrobe choice that one Wall Street analyst says is a glaring "mark of immaturity," reports Bloomberg . "He’s actually showing investors he doesn’...

Principal Faked Facebook Account to Spy: Student
Principal Impersonated
Teen on Facebook to Spy
says student
May 9, 2012 11:19 AM CDT

Principal Impersonated Teen on Facebook to Spy

Louise Losos resigns amid controversy after former student makes claim

(Newser) - A Missouri high school principal resigned last week, one month after she was first accused of impersonating a student on Facebook so she could spy on students and parents online. The profile for "Suzy Harriston" claimed she was from Clayton; many of her 300 Facebook friends were from Clayton...

Facebook&#39;s Organ Donor Push Should Go Further
Facebook's Organ Donor Push Should Go Further
OPINION
May 8, 2012 1:54 PM CDT

Facebook's Organ Donor Push Should Go Further

Nation needs more living donors to step forward: Sally Satel

(Newser) - Facebook did a wonderful thing when it made it easy for people to register as organ donors upon death, writes Sally Satel at Bloomberg View . The number of future donors surged, and it looks to be more than a fleeting spike. The problem is that it's not nearly enough,...

Facebook's IPO Roadshow Off to a Frustrating Start

Things got off to a late start because Zuckerberg was ... in the bathroom?

(Newser) - Facebook kicked off its IPO roadshow yesterday, and while some elements of day one were perfectly predictable—Mark Zuckerberg showed up in a hoodie and sneakers—others were a little more frustrating. Things began an hour behind schedule, Zuckerberg showed up late to the Q&A ( CNBC's explanation:...

New End-of-Life Planning: Social Media Wills

Feds want you to plan what happens to your online profile

(Newser) - Social networking has already changed our lives; now, officials want us to consider its implications after our death. On its blog, the US government is calling on Americans to create "social media wills," which detail our wishes for the future of the huge range of online accounts we...

Zuckerberg to Pocket $1B in Facebook IPO

He's selling 30.2M shares, the second-most anyone is offloading

(Newser) - You know what's cool? A billion dollars. And that's about how much Mark Zuckerberg will be taking home when Facebook finally goes public. The CEO plans to sell off 30,200,000 of his own shares, grabbing somewhere between $845 million and $1.2 billion, according to a...

10 Biggest Internet IPOs
 10 Biggest 
 Internet IPOs 
May 3, 2012 5:59 PM CDT

10 Biggest Internet IPOs

Google, Yandex lead the way, but Facebook will trounce them

(Newser) - Facebook hopes to raise as much as $13.6 billion in an initial public offering of stock, probably in mid-May. It would be the largest IPO ever for an Internet company. Here are the top 10, according to Renaissance Capital, an IPO investment adviser:
  1. Google: $1.67 billion, 2004
  2. Yandex
...

Facebook IPO: Not Quite $100B

Shares to be $28 to $35, putting value at $96B max

(Newser) - With Nasdaq trading likely to begin in weeks, Facebook has revealed pricing figures: It's planning to sell shares for between $28 and $35, which would put the company's value at $77 billion to $96 billion—the highest ever for a web firm during its IPO, the Wall Street ...

Everybody&#39;s Lying on Facebook

 Everybody's Lying on Facebook 
SURVEY SAYS
May 3, 2012 11:38 AM CDT

Everybody's Lying on Facebook

One-quarter of survey respondents admitted to altering their info

(Newser) - How to protect your privacy on Facebook? For an increasing number of users, the answer is simple: Lie. A quarter of respondents in a new Consumer Reports study admitted that they “alter personally identifiable information,” such as birthdate, on Facebook. Technically, that’s a violation of the social...

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