Even though it's planning to launch its IPO later this year, that isn't stopping Facebook from making a truly monster deal. Today the company announced it would be acquiring Instagram, the company behind the popular photo editing and sharing app for iOS and Android devices, for a huge $1 billion price tag. The acquisition will be a combination of cash and Facebook stock and will officially close by the end of the second quarter.
Instagram launched on October 2010 for the iOS platform. The Android version was launched just last week. Instagram says it now has about 30 million registered users.]]>
As Facebook has continued its rapid rise, one thing it has not been able to shake off are questions over how it deals with user data and privacy. That issue is getting revisited again today in Europe, where a consumer rights group says that Facebook has missed a deadline, set by Ireland’s Data Protection Commissioner, to make a number of changes to comply with European data protection laws. That group is now encouraging consumers to the the fight to the next level and make formal complaints to the European Commission over the issue.]]>
Facebook is by far the biggest social network with over 845 million registered users, and counting. It's also preparing for its big public stock offering which could value the company at $100 billion or more. But heavy Facebook users also know that its search features are very poor compared to engines like Google and Bing.
Now it appears that Facebook is working harder to improve its search features which in the end could push the company into greater competition with Google. Businessweek.com reports, via unnamed sources, that Facebook currently has 24 team members, lead by a former Google employee, that is aiming to create a better search engine for the service.]]>
At a private meeting last night in New York City, Facebook revealed to trusted partners a plan to restructure the 3-year-old Preferred Developer Consultant program around 4 areas: Page management, Ads API, Insights, and custom app development. My sources tell me Facebook will be granting approval badges in the 4 verticals, the latter two of which have never had their own distinctions.
This new unified API partner program will launch soon to replace the PDC and Ads API partner programs, and make it easier for brands to discover Facebook marketing services vendors.
The overhaul is designed to encourage more companies to formally offer Facebook marketing services, and get brands spending more on Facebook faster.]]>
Back in September, Facebook introduced the world to Timeline. The concept was that everyone with a Facebook account would be able to see a kind of chronological history of their major news items and events that appeared on their account. The feature was made available to developers to check out but nearly three months later Timeline has yet to be fully launched.
AlllThingsD.com asked Facebook about the delay and a spokesperson told them, "We wanted to let developers build on the platform and to give users more time to get used to the idea of change coming." There's no word on when Timeline will actually launch to the public.]]>
If there's any doubt how social networks have presented hackers with a wealth of social engineering tools, a Brazilian security researcher recently demonstrated how he could "friend" even allegedly more wary Facebook users in less than 24 hours. At the Silver Bullet security conference in São Paulo, UOLDiveo chief security officer Nelson Novaes Neto showed how he leveraged LinkedIn, Amazon, and Facebook to convince a target—a Web security expert he called "SecGirl" using social engineering.
Novaes created a fraudulent Facebook account, "cloning" the identity of the manager of the target. He then sent friend requests to friends of friends of the manager from the cloned account—sending out 432 requests. In just one hour, 24 of those requests were accepted, even though 96 percent of them already had the legitimate account of the manager in their contact list. He moved on to 436 direct friends of the manager, using his connections from LinkedIn—getting acceptances from 14 of them in an hour. Seven hours into the experiment, his cloned account's friend request was granted by SecGirl.]]>
Facebook will soon allow its users to integrate all of their music, media, and lifestyle actions and interactions with their profiles, Mark Zuckerberg announced at Facebook’s f8 conference today. Connecting profiles to services like Spotify will allow users to fill out their own curated “Timeline,” so friends can see each others’ media activities both as individuals and aggregated over their entire network, a move that will explode the amount of content on the site.
The new arrangement is part of two new Facebook initiatives, one of which is the Timeline.]]>
SOME SOCIAL NETWORK USERS have been presented with a changed web page layout on Facebook, including a merged and separate live news feed.
In a sudden revamping the popular social networking web site has merged the 'top news' and 'most recent' news feeds into one. The top stories are highlighted with a blue marker and pictures are displayed in larger sizes in a new layout.]]>