Winklevoss Twins Lose Appeal, Facebook Legal Saga Continues – The Winklevoss twins, who had most recently sued Facebook claiming that the company hid information from them when they settled for $65 million, were told by a panel of three U.S. Appeals Court that they must accept that deal.
The judges said the twins had a team of lawyers on hand sufficient to help them negotiate a fair deal at the time. Meanwhile, a lawsuit in New York filed by Paul Ceglia claiming that he owns half of Zuckerberg’s stake in Facebook continues this week. He has refiled his lawsuit with what he says are emails between him and Zuckerberg in 2003 and 2004, proving his ownership in the company. Ceglia has also landed a high-profile law firm, DLA Piper to represent him. Facebook, however, has continued to assert that his claims are false — see our coverage from earlier this week for more details. [Image via Zimbio]
LivingSocial Buys SocialMedia – LivingSocial bought SocialMedia, a social advertising network, for $3 million in LivingSocial stock this week, TechCrunch reported. LivingSocial just raised $400 million, was valued at $2.9 billion dollars and TechCrunch also reports that the company raked in $50 million in revenue in February. Previously SocialMedia sold its Facebook ad network to Adknowledge in 2009, though the terms of the sale were not disclosed.
Facebook’s CPC Advertising Increasingly Competitive – Efficient Frontier, an online performance marketer, reported that Facebook’s advertising is becoming increasingly competitive, especially CPC advertising, which has increased 40% quarter by quarter. Efficient Frontier’s “State of Digital Marketing Report for Q1 2011” also found that advertiser demand for Facebook’s ads increased, expanding 300% over a year ago. The company predicted that Facebook’s ad volume would double over the next year.
Facebook Fastest Social Network – AlertSite reported this week that Facebook is the fastest-loading social network, in terms of speed, at an average of .75 seconds.
Bebo Tries Redesign to Stop Traffic Slide – Bebo is working on a redesign to try to stop the loss of its traffic. This team includes Hi5 co-founder Akash Garg, Xbox co-founer Kevin Bachus and Bebo co-founder Michael Birch.
More on Messages Infrastructure – Facebook’s Engineering team wrote a note explaining the infrastructure changes that took place to accommodate the company’s new Messages product.