Dalton Caldwell caused a stir recently when he posted an open letter to Mark Zuckerberg, accusing top Facebook execs of threatening his latest startup with the Luca Brasi treatment: Sell out to us or we'll crush you."I had explicit approval from Facebook to build what I was building," says Caldwell, a software developer who unexpectedly found himself in the crosshairs because an app he was building to run atop Facebook was similar to Facebook's recently unveiled App Center. "They said, 'Sorry, we just need the revenue.'" Caldwell's public dust-up with Facebook -- … Read more
Social-media enthusiasts with eyes on the stock market bought into Facebook's initial public offering May 18. Now those who clung to the stock are wondering: When will shares of Facebook climb back to their IPO price of $38 a share?
My answer: About 32 quarters -- or eight years.
I did an analysis August 1, when Facebook closed at $20.88 a share. That's right about where the stock is currently trading. This puts Facebook's price-to-earnings ratio based on the last … Read more
It's certainly too early to call a bottom, but shares of Facebook rallied today -- jumping more than five percent to close just above $21 a share. It was the first up day since July 24th.
Today's action might bring relief, even hope, for pretty much anyone who bought the stock since it went public on May 18. After all, the shares are still off more than 44 percent from their offering price.
Moreover, it's not like Facebook rose on any news specific to Facebook. The stock rose along with the broader marke rally, ignited by a … Read more
Ouch!Shares of Facebook dropped another four percent today, leaving the company's stock price just above $20 a share -- almost half where its shares debuted in a mid-May IPO. And let's not even talk about the $45 a share Facebook hit on its first day of trading. That seems like a distant memory. The news hasn't changed since Facebook's latest wave of selling, which began when Zynga spooked investors with its lousy earnings report last Wednesday and continued with Facebook's own unspectacular earnings. Fear of mobile. Fear of a slowdown in user growth. And, … Read more
For the hordes of investors large and small who bought into hype around Facebook's IPO -- heck, even for those who snapped up shares two days ago -- this will offer little comfort. But in the last two days of trading, the assault on Facebook's stock has shaved a few billion dollars off the Facebook's famously rich founder's net worth.
More specifically, since the close of trading on Wednesday, Mark Zuckerberg has lost almost $3 billion, at least on paper. (His total stake is still worth about $11.8 billion, a far cry from the $19 … Read more
Facebook investors are bracing for yet another disappointing day on the Nasdaq.
The social network's shares are trading down 12.8 percent to $23.40 in premarket trading today. If this keeps up and the stock closes the day around that level, it would mark the stock's lowest per-share closing price since Facebook went public in May. Facebook's lowest closing price so far is $25.52.
On Facebook's conference call with analysts today, CEO Mark Zuckerberg and his top lieutenants repeatedly stressed that they plan to take their time rolling out more ads on mobile devices to avoid angering users.
And in doing so, they are angering Wall Street.
After Facebook posted unspectacular results for its second quarter -- its first report as a public company -- management offered few details about what to expect in coming months.
The absence of specificity came as a disappointment to Facebook watchers. Citigroup's Mark Mahaney said that while the results shouldn't be viewed either "as … Read more
Looks like a Facebook phone -- at least one built by the social network -- won't be in the works, according to comments made by Facebook CEO Mark Zuckerberg today.
"Building our own phone won't make much sense for us," he said during the company's first earnings call in response to a question about whether or not it's important for Facebook to make money off mobile through both apps and hardware.
Zuckerberg pointed to the popularity of the Facebook mobile app, and said FB wants to support a system where other apps can be … Read more
Three months ago, Facebook revealed it had more than 901 million monthly active users, and 526 million daily active users, and 488 million monthly mobile users. Now, during the company's Q2 2012 earnings report, the social-networking giant has updated those figures to 955 million, 552 million, and 543 million, respectively.
Here's how Facebook broke down the growth:Monthly active users (MAUs) were 955 million as of June 30, 2012, an increase of 29 percent year-over-year. Daily active users (DAUs) were 552 million on average for June 2012, an increase of 32 percent year-over-year. Mobile MAUs were 543 million … Read more
One of the biggest buildups since Geraldo broke into Al Capone's safe is over. Facebook just reported its second-quarter earnings, making a bit of history and allowing the rest of us to get a read on what's going on at the world's largest social network.
In this, Facebook's first-ever quarter as a publicly traded company, the company lost $157 million on revenue of $1.18 billion. Though revenues were up from a year ago -- analysts polled by Thomson Reuters had a consensus projection at $1.1 billion -- the news still sent Facebook's stock … Read more