Vivek Wadhwa, a research professor at Stanford University, published a diatribe on LinkedIn a few months ago titled, “Facebook Is Doomed.” Contributing to the debate on the medium- and long-term sustainability of one of the biggest social networks is undoubtedly a healthy endeavor. However, this excessive public statement distinguishes itself with rather frivolous arguments on Wadhwa’s part.
Facebook continued its focus on groups with a revamp of its groups discovery page, including not only top suggestions, but also open and closed groups their friends are members of, as well as groups relevant to the locations listed on users’ profiles.
Facebook’s formation of Facebook Creative Labs, the initiative behind its newly announced Paper iPhone application, also brought with it a quiet, behind-the-scenes policy shift at the social network: Users’ real names will not be required to access the separate mobile apps that are being developed.
Facebook has been sitting on a gold mine: users’ information. Up until now, the company has used this to target ads within the site. But now, Facebook could soon launch an external ad network, using data from within the social network. For instance, information from your interests and likes could be used to create targeted ads on websites away from Facebook. It’s not yet known exactly what this could look like, but Emergence Capital General Partner Kevin Spain talked with AllFacebook about how it would change online advertising.
Facebook Tops 1B Monthly Active Users; Mark Zuckerberg Speaks With NBC’s Matt Lauer, ‘Bloomberg Businessweek’; New Agency Of Record Wieden & Kennedy Debuts ‘The Things That Connect Us’
Facebook officially reached 1 billion monthly active users Sept. 14 at 12:45 p.m. PT, Co-Founder and CEO Mark Zuckerberg revealed in a post on the social network’s Newsroom, as well as in an interview with NBC’s Matt Lauer, and in a cover story for Bloomberg Businessweek.
Thursday was the first day that major investors in Facebook could sell their shares — and one company did just that. Accel Partners, one of the earliest investors in the social network, reportedly sold 50 million shares of Facebook (total worth: roughly $1 billion). Others could follow suit soon. Facebook’s stock, which closed Wednesday at $21.20 per share, fell to $19.87 when the closing bell rang Thursday.