• Thu
  • Dec 18, 2014
  • Updated: 7:28pm
Facebook

Facebook

Launched in February 2004, Facebook is a social networking service founded by Mark Zuckerberg with his college roommates and fellow students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes. Early investors include Microsoft and Hong Kong tycoon Li Ka- shing, through his namesake charitable foundation. Facebook’s US$16 billion initial public offering in May 2012 generated huge investor interest although the shares subsequently slumped in price.

Twitter's stock falls 18 per cent on paltry growth in users

Twitter's user growth fell in every quarter last year. Photo: AFP

Twitter reported its slowest pace of user growth in recent history, dimming hopes the social media phenomenon can sustain its torrid pace of expansion and wiping out nearly a fifth of the company's value in after-hours trading.

Friday, 7 February, 2014, 2:00am

Despite chatter, Facebook not down and out with teens yet

Facebook has grown to 1.23 billion active users worldwide.

Owen Fairchild doesn't hang out at Facebook as much as he did when he was younger.

It is not that he and his friends are abandoning the social network. They are spreading their love to rival networks like Twitter, Pinterest, SnapChat, Instagram and blogging platform Tumblr.

3 Feb 2014 - 5:53am

Facebook stocks surge on US$1.5 billion 2013 earnings and rising membership

Photo: AFP

Facebook said on Wednesday that profit soared last year on the back of sizzling mobile ad revenue as the social network’s membership swelled.

The world’s biggest social network reported that profit in the fourth quarter jumped eight-fold from a year earlier to US$523 million, raising its net income for the year to US$1.5 billion.

30 Jan 2014 - 11:33am

Facebook will lose 80pc of users by 2017, say Princeton University researchers

Facebook reported nearly 1.2 billion monthly active users in October. Photo: AFP

Facebook has spread like an infectious disease but we are slowly becoming immune to its attractions, and the platform will be largely abandoned by 2017, say researchers at Princeton University in America.

24 Jan 2014 - 3:23am

Sheryl Sandberg can officially change her Facebook status to ‘billionaire’

Sheryl Sandberg, chief operating officer of Facebook, speaks during last year's economic forum in Dalian, China. Photo: Bloomberg

When Sheryl Sandberg heads to this week’s World Economic Forum in Switzerland, she will walk in as a billionaire.

Reports said the Facebook chief operation officer’s wealth officially surpassed US$1 billion on Wednesday on the back of a surge in Facebook stocks, of which she holds about 12.3 million shares. Facebook stocks closed at US$57.51 on Thursday, Bloomberg reported.

23 Jan 2014 - 1:27pm

Facebook sued for sharing users' data with advertisers and marketers

Facebook sued for sharing users' data with advertisers and marketers

Facebook is being sued in the US over allegations it systematically intercepts its users' private messages on the social network and profits by sharing the data with advertisers and marketers.

4 Jan 2014 - 2:20am

Facebook, Zuckerberg plan to sell 70m shares

Mark Zuckerberg. Photo: Reuters

Mark Zuckerberg, the chief executive of Facebook, is selling shares to help pay taxes, joining the company and some other shareholders in an offering worth about US$3.9 billion.

20 Dec 2013 - 4:29pm

Trending this year among Hong Kong's Facebook users: typhoons, TV and troubled politicians

Trending this year among Hong Kong's Facebook users: typhoons, TV and troubled politicians

Facebook's annual review revealed that Hong Kong's 2.9 million users loved to gossip about politicians and celebrities in 2013, much like devotees of the social media site elsewhere.

15 Dec 2013 - 9:21am

US technology giants push back on snooping and urge restraint

US technology giants push back on snooping and urge restraint

Just because you are hypocritical doesn't mean you are wrong. Eight prominent US technology companies, including Google, Facebook and Apple, have jointly published an open letter to the US Congress and President Barack Obama urging strict new limits on government surveillance.

15 Dec 2013 - 4:14am

Facebook names NYU scientist to lead centre for artificial intelligence

Mark Zuckerberg spoke of the plans in October. Photo: Reuters

Facebook has unveiled plans for a partnership with New York University to create a new centre for artificial intelligence, aimed at harnessing the huge social network's massive trove of data.

11 Dec 2013 - 3:37am

Morgan Stanley downgrades view of internet stocks, citing overvaluation

LinkedIn trades at 97 times forward earnings. Photo: Reuters

Morgan Stanley lowered its industry view on internet stocks to “in-line” from “attractive”, saying growth in the sector needs to accelerate to justify current valuations.

12 Nov 2013 - 10:55am

Twitter IPO pricier than Facebook's

While Facebook was profitable when it went public, Twitter lost US$64.6 million in the third quarter of this year. Photo: AP

Twitter boosted its IPO price on Monday to US$23 to US$25 a share, which would give the microblogging service a market capitalisation of US$13.6 billion at the top end of the range. That would value the company at 11.8 times its estimated 2014 sales, higher than the 11.4 times price-sales ratio for Facebook.

6 Nov 2013 - 5:37am

Google's Eric Schmidt to Hong Kong: You need more engineers to start companies like mine

Google chairman Eric Schmidt receives a warm welcome at Chinese University yesterday. He wants to encourage more young entrepreneurs. Photo: Felix Wong

Google Chairman Eric Schmidt has one suggestion for the Hong Kong government on how to make the city remain competitive – to open more technical universities, thereby attracting more software engineers, rather than more bankers.

5 Nov 2013 - 3:25pm 17 comments

Facebook has a moral duty to police the posting of violent videos

Facebook will reimpose a ban on gruesome videos and pictures. Graphic: Emilio Rivera

Facebook has become an integral part of life for many of its 1.15 billion users. A decision by the company to reimpose a ban on the posting of gruesome videos and images such as those of beheadings is therefore sensible. Media organisations usually apply a "public interest" test to determine what should be published where morality issues are involved. Social media, given its prevalence and role, should follow the same example.

25 Oct 2013 - 1:22am

Facebook about-turn as video of beheading is removed

Facebook said it would use a broader set of criteria to determine when gory videos are permitted on the site. Photo: Reuters

Facebook has removed a beheading video from the social network following outrage over its lifting of a ban on gory images. The about-turn comes as Facebook seeks to balance the diverse sensitivities of its billion-plus members with a desire to be a platform for free speech and real-world news stories.

24 Oct 2013 - 5:02am