Techmeme
May 18, 2012, 4:55 PM

Top News

Alexei Oreskovic / Reuters:
Historic Facebook IPO marred by trading glitches  —  (Reuters) - For a company that is dramatically upending business strategies and social relationships around the world, Facebook Inc made a surprisingly modest debut on the Nasdaq on Friday as a sky-high valuation and trading glitches capped the stock's rise.
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.
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.
Dan Primack / Fortune:
38 Special: Facebook bankers got it right  —  Facebook shares stay flat, and that's okay.  —  FORTUNE — Facebook (FB) shares didn't pop. They didn't crumble.  They closed the day at $38.23 per share, or less than a percentage point higher than where the company's IPO had priced last night.
Kim-Mai Cutler / TechCrunch:
Bankers Got Too Aggressive With Pricing Facebook As Shares Barely Break Above $38  —  The underwriters of Facebook's $16 billion debut on NASDAQ fought to the finish to keep the company's shares above last night's final price of $38 a share.  Shares closed at $38.23 today.
More: CNET
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:
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.
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.  As we first posted, Karma was founded by Lee Linden and Ben Lewis who in their past life were co-founders of Tapjoy, that was acquired …
Alistair Barr / Reuters:
Social media stocks knocked as Facebook debuts  —  (Reuters) - Social media stocks, led by Zynga Inc (ZNGA.O), dropped in volatile trading as traders used the securities to hedge or bet against the day's star of the sector, Facebook Inc (FB.O), which went public in a somewhat disappointing debut on Friday.
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.
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.
Total Telecom:
Kodak accuses Apple of trying to derail its patent sale  —  U.S. firm says Apple is biggest infringer of its digital camera patents, as well as being a potential acquirer of those same patents.  —  Eastman Kodak Co. is accusing Apple Inc. of trying to shake up a planned patent sale in a bid …
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

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