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Alibaba is Reportedly Investing $200M in Snapchat with a $15B Valuation (The Next Web)
Alibaba may be looking to get a piece of Snapchat. According to Bloomberg, the online shopping behemoth is pinning Snapchat at a $15 billion valuation to prepare for an investment. Bloomberg China’s biggest e-commerce company intends to invest $200 million, said the people, who asked not to be identified because the discussions are private. Snapchat, based in Los Angeles, was in discussions last month to raise $500 million in a round of financing that could value the company at $16 billion to $19 billion, a person familiar with the situation said at the time. Fortune Aside from the jump in valuation and the size of the round, the funding would be notable because of its terms. As reported this week by PandoDaily, Snapchat does not plan to sell preferred stock to investors in this round. Reuters Snapchat’s latest valuation is a massive increase for a company that Facebook offered to buy in late 2013 for $3 billion. It is unclear what value the startup would bring to Alibaba, which handles more online commerce than Amazon.com and eBay combined.
Report: Brands are Now Posting More to Instagram Than Facebook (Adweek)
Instagram is luring brands away from Facebook, according to a new report from research firm L2, which found that brands now post more content on the photo-sharing app. The reason? Brands know everything they post on the platform will appear in fans’ feeds, the study says.
Director of Product Management Mick Johnson Leaving Facebook (SocialTimes)
Facebook director of product management Mick Johnson announced in a post on the social network that his last day with the company will be Friday (March 13). Johnson was Facebook’s mobile product manager when the completely rebuilt Facebook 5.0 for iOS application was released in August 2012, and he has also worked on search and language.
Facebook Faces Class Action After Kids Spend Parents’ Money on Facebook Games (IBT)
In related news, Facebook was ordered Friday to face a class-action lawsuit in California that is trying to force the company to refund purchases made by children unauthorized to put charges on their parents’ credit cards without permission. The total reward, which is estimated to be “in the hundreds of thousands,” according to Reuters, will move forward as a class action against Facebook.
Moonves: ‘The Floodgate is Now Open’ for OTTs (LostRemote)
CBS’s subscription service is doing well, according to Les Moonves, who spoke at the Deutsche Bank 2015 Media, Internet and Telecom Conference. While he wouldn’t disclose an exact number, Moonves says the service is doing “extremely well” and has more users than Dish’s Sling.
Twitter Bans Posting Revenge Porn (The Verge)
Twitter now expressly prohibits posting revenge porn or other non-consensual, intimate photos using the service. Buzzfeed reports that Twitter made two significant changes to its terms of service Wednesday evening designed to prevent the posting of explicit photos taken without the subject’s consent.
What Happens in Vegas … is Advertised on Facebook: Q&A with Nick Mattera (SocialTimes)
Nick Mattera may have one of the most desirable tasks in the marketing world: persuade people to come to Las Vegas. As the director of digital engagement for the Las Vegas Convention and Visitors Authority, Mattera finds ways to bring the tried-and-true “What happens in Vegas…” marketing strategy into digital and emerging platforms.
The #Smelfie is Just Dads Changing Their Kids’ Diapers (Mashable)
Comedian and dad Adam Hills posted a picture of himself changing his daughter’s soiled diaper on Friday, using the hashtag #smelfie. Almost immediately, Hills’ funny picture turned into a full-on Twitter movement.
Shocase PRESENTS: Original Video Series for Marketing Professionals (SocialTimes)
Marketing professional-targeted social network Shocase announced the launch of original mini-documentary video series Shocase PRESENTS, aimed at spotlighting stars of the marketing sector. Shocase launched recently with the aim of bringing some of the best features of Facebook, LinkedIn, YouTube and Pinterest together in one place for marketing professionals of all disciplines.