Techmeme
May 18, 2012, 4:40 PM

Top News

Alexei Oreskovic / Reuters:
Facebook's debut is modest, high volumes cause problems  —  (Reuters) - Facebook Inc shares rose less than expected on their first day of trade on Friday and huge order volume caused technical problems that marred the coming out party of the No. 1 online social network.
John Paczkowski / AllThingsD:
The Price Is Right: Facebook Closes Near Opening Price  —  After the weeks of private equity dealmaker palm rubbing and investor anticipation, Facebook's IPO on Friday was something of an anticlimax.  Shares in the newly public company rose to $45 before closing at $38.37.
David Garcia / TechCrunch:
How Facebook Hacked The NASDAQ Button  —  Editor's note: Some savvy Facebook engineers rigged the NASDAQ button to automatically post “Mark Zuckerberg has listed a company on NASDAQ - FB” to the CEO's Timeline as he rung the bell to open the NASDAQ's day of trading.
Bloomberg:
Facebook IPO Makes Zuckerberg Richer Than Google Founders  —  Facebook Inc. (FB)'s $16 billion initial public offering has made 28-year-old Mark Zuckerberg the 29th richest person on Earth.  —  Facebook, the world's most popular social networking company, sold 421.2 million shares for $38 each.
Kim-Mai Cutler / TechCrunch:
Video & Photos: Facebook CEO Mark Zuckerberg Rings In The NASDAQ Bell  —  Facebook chief executive Mark Zuckerberg didn't travel to New York's Times Square for the company's big day.  He did it unconventionally like you'd expect a hacker would.  He opened the bell remotely …
Julianne Pepitone / CNNMoney:
Bloomberg:
Facebook Sued For $15 Billion In Suit Over User Tracking  —  Facebook Inc. (FB), which is scheduled to begin trading today, was sued by users of its social network in an amended class-action case claiming the company invaded their privacy by tracking Internet usage and seeking $15 billion.
Miyoung Kim / Reuters:
Samsung gets 9 million preorders for new Galaxy phone: report  —  (Reuters) - Samsung Electronics Co has received some 9 million pre-orders for its third-generation Galaxy S smartphone from more than 100 global carriers, the Korea Economic Daily reported on Friday.
Reuters:
Worries mount as Nokia burns through cash  —  Nokia Oyj is tearing through its cash reserves at an unsustainable rate, raising what some analysts say are serious questions about the struggling Finnish phone maker's ability to stabilize its finances in the months ahead.
Chris Ziegler / The Verge:
RIM, Motorola told Apple they could find a nano-SIM compromise: here it is  —  Eventually, the committee chairman decided to hold an informal vote by show of hands whether each of the two proposals adequately met the jamming requirement.  For the Apple design, seven voting members said it did not, 28 said it did.
Cotton Delo / AdAge:
Foursquare Hires Former iAd Exec as Revenue Chief  —  Steven Rosenblatt Is Longtime Mobile Exec From Quattro Wireless  —  A month after Ad Age learned that Foursquare will soon launch advertising products, the company has hired its first-ever monetization lead.
Somini Sengupta / New York Times:
Reticent Rich: Preferred Style in Silicon Valley  —  MENLO PARK, Calif. — Wealth is here if you know where to find it.  —  Fabulous home theaters are tucked into the basements of plain suburban houses.  Bespoke jeans that start at $1,200 can be detected only by a tiny red logo on the button.
Wall Street Journal:
Groupon Stock Spike Probed  —  Wall Street Regulator Is Reviewing Jump Monday Before Firm's Earnings Release  —  A Wall Street regulator is examining trading in Groupon Inc. that sent its stock price soaring hours before a favorable earnings announcement Monday, according to a person familiar with the matter.
Tom Warren / The Verge:
Microsoft's ‘buy a PC, get a free Xbox 360’ deal returns for students on May 20th  —  Microsoft is announcing the return of its buy a PC and get a free Xbox 360 deal for students this week.  Students in the US who purchase a qualifying PC worth $699 or more at certain retailers will get a 4GB Xbox 360 for free from May 20th onwards.
Om Malik / GigaOM:
Facebook buys Karma app  —  The newly public Facebook says it is buying Karma, a mobile social gifting app.  The news was released via Karma's blog.  The deal terms were not announced.  Facebook plans to keep the service alive.  A Facebook spokesperson said this is an acqusiton and not an acquhire.
Federico Viticci / MacStories:
Four Years of App Store: Developers Weigh In On Search, Discovery, and Curation  —  “The App Store is a grand slam, with a staggering 10 million applications downloaded in just three days”.  That's how Apple co-founder and late CEO Steve Jobs saluted the launch of the company's new storefront for iOS …
More: TUAW, Macgasm and PadGadget

Sponsor Posts

Microsoft:
Teachers use Bing home page lesson plans to encourage critical thinking skills  —  Find out how free lesson plans based on images like this Siberian tiger from Bing's home page encourage students to explore subjects in creative and thought-provoking ways.
Intel:
Disrupting the Data Center to Create the Digital Services Economy  —  I had the pleasure of joining Tom Krazit on stage at the Gigaom Structure'14 conference to share Intel's vision of the data center in support of the growth of the digital services economy.
VMware:
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Eric Slivka / MacRumors: