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Facebook Annual Meeting: Mark Zuckerberg Addresses Concerns About Stock Price (AllFacebook)
Facebook held its first annual meeting Tuesday at the Westin San Francisco Airport in Millbrae, Calif., and co-founder and CEO Mark Zuckerberg addressed shareholders’ concerns about the company’s stock price, which has never approached its initial public offering mark of $38 per share since its first day of trading last May 18. Aside from concerns about Facebook’s stock price, the most common subject in the question-and-answer session was user dissatisfaction with the social network’s News Feed algorithm. Inside Facebook Shareholders’ frustration was palpable. Some discussed how they bought large portions of stock when the company went public, only to see it dip to roughly half its value before building back up. Zuckerberg noted that the company has been trying new ways to gain revenue, but these things take time and won’t make the company instantly more valuable. Los Angeles Times Even before the question-and-answer session began, Zuckerberg expressed his own frustration with the prolonged stock slump. “We’re disappointed with the performance of the stock over the past year,” he said. CNBC According to Zuckerberg, Facebook is concentrating on three areas: building great mobile apps and experiences. Two, it is working to ensure that its platform is integrated into as many experiences and apps as possible. And three, the company aims to drive revenue that will continue to fuel innovation. TechCrunch The PRISM story has progressed significantly since last week, when Mark Zuckerberg published Facebook’s official response to the reports that it is among a group of tech companies that have been secretly cooperating with the United States government to provide user data. At Facebook’s annual shareholder meeting, Zuckerberg said the company continues to stand behind that initial statement.
Google, Facebook, Microsoft Seek Privacy Points by Asking Permission to Disclose Data Requests (GigaOM)
In related news, Google sent a letter to FBI head Robert Mueller and Attorney General Eric Holder Tuesday requesting permission to disclose the number of times the federal government requests data on national security grounds, according to a blog post. Facebook and Microsoft have followed suit.
Pandora Buys FM Radio Station in a Wily Move to Fight Music Labels (The Verge)
You might think that the biggest threat to Pandora right now is the just-announced iRadio, but Apple’s upcoming music service isn’t nearly as dangerous to Pandora’s bottom line as record companies are. Bloomberg Qualifying for rates from the American Society of Composers, Authors and Publishers and Broadcast Music Inc. may provide Pandora with cost savings of less than 1 percent of its revenue, the Oakland, California-based company said Tuesday in a regulatory filing. Financial terms of the purchase weren’t disclosed. The Hill In part, Christopher Harrison, assistant general counsel at Pandora, wrote on The Hill‘s Congress blog Tuesday: “While this might seem like an unexpected move for Pandora, it makes sense even beyond the licensing parity. Pandora excels in personalizing discovery, and terrestrial radio is experienced in integrating with a local community. We look forward to broadcasting our personalized experience to the community in Rapid City, an area where over 42,000 residents already use Pandora. And we will apply Pandora’s insights about listening habits to program music that accurately reflects local listeners’ evolving tastes.”
Social Media Users Like the Sound of iTunes Radio (CNET)
Apple finally unveiled its music streaming service, iTunes Radio, and the social Web approves. Social media analytics company NetBase found that 94 percent of social media users had positive comments about iTunes Radio following the product’s release during Apple’s WWDC developers conference on Monday, which means only 6 percent had negative comments.
You Can Now Pay In-Stream on Twitter with Chirpify (AllTwitter)
Social commerce platform Chirpify announced Tuesday that its members can now accept domestic and international credit and debit cards, as well as send and accept automated clearing house payments, directly in-stream with a single comment on Twitter, Facebook and Instagram. With Chirpify’s new direct payment processing, consumers get more options and less friction, while sellers get lower costs because of the elimination of third-party fees.
Mediafed’s News Feed Discovery Platform is on Fire: Sees 30B Article Views and 83 Percent Mobile Increase (VentureBeat)
While most consumers aren’t directly taking advantage of RSS feeds — they’ve mostly been supplanted by social media and mobile news reading apps – they’re still an important way for publishers to get their content distributed and discovered. For London-based Mediafed, that means big business.
Google Closes on Deal for Waze (Inside Mobile Apps)
Google has acquired crowdsourced mapping application, Waze, as announced from the company’s official blog. It was long rumored that both Facebook and Apple have shown interest in acquiring the Israel based startup, but have been beat out by Google.
Surprise! Inspirational Text Messages Won’t Improve Teens’ Grades (BetaBeat)
All those “Good Luck!” texts you’ve been sending your teen on test day aren’t doing a damn thing, science says. We could have told you that anyway, but Harvard University economist Roland Fryer actually conducted an experiment to study the effects of inspirational texts on teens’ grades.
Unruly Opens Social Video Lab to Predict When Videos Will Go Viral (SocialTimes)
Creating the perfect video that reaches millions of people on YouTube or Vimeo purely by word of mouth could just be luck, but the analysts at Unruly believe they have it down to a science. Tuesday the video technology company opened a Social Video Lab in its New York office where brands can test the viability of their video advertisements with a viral success algorithm called Unruly ShareRank.