A US District court dismissed four shareholder lawsuits related to Facebook’s botched IPO, on the grounds that the individual investors behind the cases purchased the company’s stock after the company had already…
Gigya Passes 1.5B Unique Monthly Users, or About 2/3 of the Internet
Gigya, the provider of social infrastructure, announced it has reached 1.5 billion unique monthly users, up from the billion it reported a year ago. That’s nearly 2/3’s of the global Internet population.…
Facebook Kicks Off Graph Search for Social Connection Discovery
Facebook rolled out its Graph Search, a functional search tool that provides results based on social connections. It’s a big step for Facebook that evolves its social function to provide relevant knowledge…
Janrain Nabs $33M from Salesforce and Others for Social Login Management
Janrain, which provides a social log-in management platform for developers that allows for easy signup through Facebook and other social media services, has raised $33 million. The round included contributions from new…
LinkedIn Hits 200M Users in 200 Countries
LinkedIn has reached another milestone. The professional social network now has a user base of over 200 million users from over 200 countries. The site is used in 19 different languages. More…
Google Closes Down Shopping Search Service in China
Google has shut down its online shopping search service in China, a further tightening move in the country after the company shut down its Music Search in the country last fall. The…
Facebook Proposes $20M Settlement for Sponsored Stories Suit
Facebook is proposing to settle a class action lawsuit related to its “Sponsored Stories” lawsuit for $20 million, offering up to $10 each for any of the 125 million affected users that…
Facebook Educates Advertisers: Forget the Click
At the ad conference IAB MIXX this week, Facebook laid out its argument to advertisers, based on a recent study it conducted with Datalogix: Clicks are meaningless. The value of online advertising…
Groupon Launches Own Credit Card Scanner
Setting its competition scopes directly on Square, Groupon launched a credit card scanning service that boasts lower fees and an ability to track transaction activity. The service goes head to head against…
China’s Momo Raises $40M for Casual Meetups
Casual meetups in China are challenging in a culture where dating game shows are an apt way to snatch up a wealthy groom and marriage qualifies as a get-to-know-you conversation starter. Translated…