Techmeme
May 18, 2012, 1:15 PM

Top News

Alexei Oreskovic / Reuters:
Facebook fizzles in debut, shares skirt IPO price  —  (Reuters) - Facebook Inc shares fizzled on their first day of trade on the Nasdaq, erasing early gains of as much as 18 percent to trade close to their initial public offering price.  The stock opened 11 percent higher and rose to $45 …
More: Business InsiderTweets: @levie
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.
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:
Facebook IPO trading opens at $42  —  NEW YORK (CNNMoney) — Facebook's stock market debut is finally here — and investors jumped on the breathlessly hyped IPO, sending shares up almost 11% at the start of trade.  —  On Thursday night, Facebook ( FB) set its final IPO price at $38 a share.
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.
Drew Olanoff / The Next Web:
Zynga's stock drops 13% during Facebook IPO, trading halted  —  During Facebook's IPO event, which the world is watching, a company closely tied to it called Zynga wasn't celebrating.  —  Its stock (ZNGA) dropped over 13% and trading has been halted.  —  Since Zynga's gaming business relies heavily …
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.
Reuters:
GM ad move followed failed Facebook pitch: sources  —  (Reuters) - Facebook may only have itself to blame for why General Motors rained on its IPO parade this week.  —  GM announced the decision to drop Facebook paid ads on Tuesday in what was the first highly visible crack in Facebook's strategy …
John Koetsier / VentureBeat:
PayPal handles 60% of web transactions, leaves Google in the dust  —  PayPal processes 60% of web transactions, Google is the fastest payment gateway, and some unlucky surfer had to wait over 92 seconds for his online purchase to complete.  —  Those are only a few of the findings …
Josh Constine / TechCrunch:
Facebook Keeps Shipping.  Now You Can Silence Spammy Apps And More With New Notification Controls  —  If there's something on Facebook that won't stop pinging you with Notifications, tell it to shut up instantly with Facebook's new granular, in-line notification controls.
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.
James Raybould / Linkedin Blog:
The Top 10 tech startups best positioned to strike engineering gold  —  In today's Silicon Valley, engineering talent is as sought after by companies as gold was by the first prospectors in the Wild West.  Talent is a company's most important asset, so we decided to use LinkedIn's data insights …
Zack Whittaker / ZDNet:
UK government staff caught snooping on citizen data  —  Don't worry about hackers illegally accessing government systems.  It turns out government workers and civil servants who are trusted with private citizen data are more likely to access your data illegally.
Austin Carr / Fast Company:
J. Crew CEO, Apple Board Member Mickey Drexler Reveals Steve Jobs' iCar Dream, Confirms “Living Room” Plans  —  J. Crew CEO and Apple board member Mickey Drexler offers an insider's perspective on Steve Jobs's vision: “Steve's dream before he died was to design an iCar.”
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.
Jason Del Rey / AdAge:
Amazon to Sell Ads on Kindle Fire Welcome Screen — If You Have $600K  —  Amazon Seeks Big Money as It Brings Advertising to Its Hottest Tablet  —  The Kindle Fire is Amazon.com's best-selling product, the company said in its first-quarter-earnings release.  And it's being treated that way by the Amazon ad sales team.
CB Insights:
2012 Venture Capital Funding to Facebook Mafia Up 137% vs. 2011.  Greylock is Most Active VC FB Mafia Investor So Far.  —  The Facebook Mafia isn't waiting for an IPO to strike out on their own as company alumni have already raised $271 million of venture capital funding since 2006.
Stuart Dredge / Guardian:
Vyclone video app aims to out-social Viddy and Socialcam  —  New iPhone app connects people shooting videos of the same event, and edits their footage together  —  Video-sharing apps are all the rage in Silicon Valley in 2012.  Well, two are.  Viddy raised $30m in mid-May as it passed 27m users …
Matthew Panzarino / The Next Web:
Apple no longer censoring the word ‘jailbreak’ in U.S. iTunes Store  —  Yesterday a bit of a hullabaloo was started when it was discovered that Apple was censoring the word ‘jailbreak’ in the U.S. App Store.  Now, that censoring has been corrected, and the word is visible across all categories …
Pui-Wing Tam / Wall Street Journal:
More Start-Ups Join the $1 Billion Club of Valuations  —  Pinterest Is Latest Start-Up Hitting Rich Valuation; Venture Activity Rivals Dot-Com Boom Days  —  The coveted club of Silicon Valley start-ups worth a billion dollars is quickly losing its exclusivity.
More: DigitsTweets: @hunterwalk

Sponsor Posts

Microsoft:
Changing the world, 1 billion sensors at a time  —  What would you do if you had a billion sensors?  Design students around the world tackled that question at Design Expo.  Take a look at some of the fascinating projects …
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