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.
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.Tuesday, 12 November, 2013, 10:55am
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 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 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 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
Facebook has surreptitiously resumed allowing decapitation videos to be posted on its website, lifting a temporary ban it had placed earlier this year on content featuring graphic violence.22 Oct 2013 - 10:05am
High-flying smartphone maker Xiaomi is at the centre of 2 recent strings of microblog posts, one touching on an interesting new connection with Facebook (Nasdaq: FB) and the other hinting at an increasingly cozy relationship with struggling online clothing seller Vancl.21 Oct 2013 - 6:07pm
Facebook is now allowing teenagers to share their posts on the social network with anyone on the internet, raising the risks of minors leaving a digital trail that could lead to trouble.18 Oct 2013 - 5:16am
Social networking site Facebook is losing its popularity as a communication tool among Hong Kong teenagers and is increasingly being used for self-promotion and information gathering, according to a new survey.13 Oct 2013 - 5:29am
He made his fortune by persuading over a billion people to share their lives online, but when it comes to protecting his own privacy Mark Zuckerberg appears to spare no expense: the Facebook founder has reportedly spent US$30 million buying four houses that surround his own home in California.13 Oct 2013 - 6:15am
Facebook is ending a feature that allowed users to hide from the social network's billion-plus members. The feature will be removed from November 11, meaning that someone looking for another Facebook user can more easily find that person.13 Oct 2013 - 6:15am
When Facebook was preparing to go public last year, the telephones at Granite Investment Advisers rang off the hook as clients called about the social media's company's highly anticipated debut.7 Oct 2013 - 6:16am
Beijing has made the landmark decision to lift a ban on internet access within the Shanghai Free-trade Zone to foreign websites considered politically sensitive by the Chinese government, including Facebook, Twitter and newspaper website The New York Times.25 Sep 2013 - 4:24pm 23 comments
China’s online community brimmed with disappointment - if not despair - on Tuesday after online media reported that Iran had granted its citizens access to Facebook and Twitter. Both sites had been walled off from Iranian users since 2009.
This leaves China, along with its neighbour North Korea, among the very few countries which still block Facebook and Twitter.17 Sep 2013 - 1:33pm 2 comments