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Key Groupon Investors Ditch the Troubled Stock

Critics say big pre-IPO investments overvalued the company

(Newser) - With Groupon having lost three-quarters of its IPO value, several of its key early investors, including web icon Marc Andreessen, have left the building, reports the Wall Street Journal . Andreessen's firm, Andreessen Horowitz, invested $40 million of the $950 million pumped into Groupon in the months before it went...

Facebook Stock Drop &#39;Painful&#39; for Workers

 Facebook Stock 
 Drop 'Painful' 
 for Workers 
Life Plans on Hold
Aug 18, 2012 1:48 PM CDT

Facebook Stock Drop 'Painful' for Workers

Mark Zuckerberg admits it's hard on employees

(Newser) - With investors dumping Facebook stock and analysts dumping on the company , employees are feeling the pain. In other words, their plans for a new home or car will have to be put on hold, the Los Angeles Times reports. "People made life plans and calculations," says a Silicon...

As Facebook Shares Tank, Calls for Zuckerberg's Head

Investors wonder if he's 'in over his hoodie'

(Newser) - With Facebook stock continuing to find new lows , grumbles have started on Wall Street. "There is a growing sense that Mark Zuckerberg, talented though he may be, is in over his hoodie as CEO of a multibillion-dollar public company," one researcher tells the LA Times . Zuckerberg owns too...

Facebook Flags Chats of Alleged Sex Predator

Suspect arrested in Canada after conversations with girl, 13

(Newser) - Employees at Facebook helped nab an accused sexual predator after his computer chats raised red flags. The suspect, a 25-year-old male, was engaging in explicit chats with a 13-year-old girl, which caught the attention of Facebook staffers who alerted Winnipeg police. Authorities arrested the man, though not until after he...

Facebook Shares Hit New Low
 Facebook Shares Hit New Low 
Aug 17, 2012 6:36 AM CDT

Facebook Shares Hit New Low

They drop 6% as some investors get first chance to sell

(Newser) - More stock woes for Facebook: As some shareholders got their first opportunity to sell yesterday, shares plummeted to a new low of $19.69. By day's end, they'd settled at $19.87, a 6% plunge, the Los Angeles Times reports. It's not clear yet how many of...

Let&#39;s Nationalize Facebook
 Let's Nationalize 
 Facebook 
OPINION
Aug 16, 2012 11:50 AM CDT

Let's Nationalize Facebook

Let's make the site a force for good: Philip Howard

(Newser) - Facebook is capable of being a tool for the greater good, but right now, it's falling way short of that potential, writes Philip Howard at Slate . His solution: Let's nationalize it, even though the idea "might seem crazy." We could start with a public majority stake...

270M Facebook Shares Could Hit the Market Today

Lock-up period ends for early investors

(Newser) - Desperate to get your hands on a sagging Internet stock? Well, you're in luck: 271.1 million Facebook shares could hit the market beginning today, as the lock-up period that barred early investors from selling their stock expires. Today marks 90 days since Facebook's IPO, making those shares...

Facebook&#39;s Instagram Deal Will Be a &#39;Bust&#39;
Facebook's Instagram Deal 
Will Be a 'Bust'
OPINION
Aug 7, 2012 6:18 PM CDT

Facebook's Instagram Deal Will Be a 'Bust'

Zuckerberg may have been too hasty: Forbes' Chunka Mui

(Newser) - Facebook's billion-dollar purchase of Instagram has generally been met with praise in the tech world, an example of how Mark Zuckerberg can strike decisively to shore up a weakness. Chunka Mui at Forbes has a different view: "We'll look back on the acquisition as a bust—much...

Now on Facebook: Gambling for Real Money

Well, so long as you live in the UK

(Newser) - Because Facebook isn't already addictive enough ... UK users will now be able to gamble, in addition to posting photos of the excellent pork tenderloin they made for dinner last night. The Next Web reports that Gamesys' new app Bingo Friendzy is the first to allow those over 18 to...

Plugin Lets Facebookers Banish Baby Photos

Unbaby.me swaps pics of babies for images of cats—or bacon

(Newser) - A trio of ad agency employees fed up with looking at their friends' baby photos on Facebook have hit on a way to replace the images with pictures of cats, bacon, or whatever the user would rather see. Unbaby.me , a plugin for the Chrome browser that launched last week,...

Zuckerberg No Longer Among Tech's 10 Richest

Facebook's plunging shares cost him $423M yesterday

(Newser) - Facebook's sinking stock shares have cost Mark Zuckerberg some bragging rights among his tech peers. As unfathomable as it might seem to ordinary folks, Zuckerberg's worth dropped by $423 million yesterday, reports Bloomberg . His fortune is now figured to be $10.2 billion, about $400 million less than...

Illinois to Firms: Paws Off Applicants' Facebook Logins

New law will make it illegal for them to request password info

(Newser) - Good news, Illinois job seekers: Would-be employers are now legally barred from demanding your social media passwords and taking a gander at those margarita madness photos you thought only your friends could see. Gov. Pat Quinn yesterday signed a law that will make it illegal for employers to ask job...

Facebook Trades Below $20
 Facebook Trades Below $20 
Aug 2, 2012 1:16 PM CDT

Facebook Trades Below $20

Stock falls below psychological threshold in wake of earnings

(Newser) - Remember when financial columnist Mark Hulbert suggested that Facebook shares should cost $13.80 ? Well, it's looking more and more likely. Shares dipped below $20 in trading today, at one point hitting $19.90, according to the Wall Street Journal . "There's huge negative sentiment and there...

1 in 12 Facebook Users Is Bogus

Company's latest estimate pegs duplicate, unwanted accounts at 8.7%

(Newser) - Obviously, Facebook has a lot of users. But how many of them are real? The company's quarterly earnings report, issued last week, revealed that the answer is most, but not as many as previously believed. About 8.7% of Facebook accounts, or around 83.09 million, are bogus, the...

Mutual Funds Bail on Facebook
 Mutual Funds Bail on Facebook 
Aug 2, 2012 6:41 AM CDT

Mutual Funds Bail on Facebook

Fidelity sells off huge chunk of stock at record speed

(Newser) - Usually, when big mutual funds invest in IPOs, they're in for the long haul. But that might not be the case with Facebook. Twenty-one mutual funds from Fidelity Investments, one of Facebook's earliest buyers, unceremoniously dumped more than 1.9 million public shares combined last month, with 16...

Meet Facebook's Most-Liked Celeb

Eminem beats out Rihanna, Lady Gaga

(Newser) - It's all about Lady Gaga and Justin Bieber on Twitter, but when it comes to Facebook, Eminem wins. The rapper is the most popular artist on the site, the first to rack up 60 million fans . Rihanna is a close second with 59 million fans, E! reports, while Lady...

Man Attacks Girlfriend Over Suspected Affair ... With Mitt

Lowell Turpin spotted the 'unknown' man's photo on her Facebook wall

(Newser) - Facebook has turned into quite the relationship buster , but this story out of Tennessee takes the cake: A man spotted a photo of an unknown gentleman on his girlfriend's Facebook page on July 22, and one word came to mind: affair! Lowell Turpin "angrily demanded to know who...

Tweens Hit With Felony Over Fake Facebook Page

Girls impersonated classmate, made threats, cops say

(Newser) - Two middle-school girls in Texas have been arrested after police say they created a Facebook page in a classmate's name—and used it to fire off threats to other students. The girls, ages 12 and 13, face third-degree felony charges for online impersonation, NBC News reports. The messages caused...

UBS to Sue Nasdaq Over Facebook IPO

Bank slams 'gross mishandling' of debut after losing $356M

(Newser) - More fallout from the Facebook IPO: UBS is planning to sue Nasdaq over a market debut that resulted in $356 million in losses for the Swiss bank. "As a market maker in one of the largest IPOs in US history, we received significant orders from clients," UBS said....

Sheryl Crow: Fan Wants to 'Shoot Me'

Singer seeks restraining order against Phillip Sparks

(Newser) - Having a disturbed weirdo stalk you on Facebook is one thing—but an outright murder threat is another. Sheryl Crow has filed a restraining order request against Phillip Gordon Sparks, 45, who she says walked into the Screen Actors Guild and told an employee he would "just shoot" Crow,...

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