By Christine Zosche
More Facebook Shares to Hit the Market, Including 41.35M From Zuckerberg (AllFacebook)
Another 70 million Facebook shares will hit the market at the close of trade today, as the social network announced an underwritten registered public offering of class-A common stock, with 27 million coming from the company itself and another 43 million from certain stockholders, including 41.35 million from co-founder and CEO Mark Zuckerberg. WSJ Zuckerberg will likely pocket about $1 billion from his first stock sale since Facebook’s initial public offering. Wired Zuckerberg is using a majority of the proceeds from his sale to pay taxes on a separate stock option conversion in which he will acquire 60 million more shares, and he also plans to donate stock valued at roughly $1 billion to charity. Facebook will use its stock proceeds “for working capital and other general corporate purposes.” NYT While the sale will only slightly loosen Zuckerberg’s control on the company, he will still control more than 60 percent of the voting rights. Forbes If early market activity is any indication, existing Facebook investors aren’t rushing to hit the “like” button on the news: shares of the social media giant fell 4 percent in pre-market trading after the announcement.
Vanity URLs for Twitter’s Vine Start Today (AllTwitter)
Vine, Twitter’s short-video sharing tool, has become the fastest-growing app in the world. And starting today at 9 a.m. PT, vanity URLs will be launched for all verified accounts on Vine, with the service rolling out to all users on Dec. 23. Twitter will automatically reserve profile URLs that mirror existing verified Twitter usernames, but everybody else needs to be quick.
How Much Mobile Ad Spending Did Facebook Account for in 2013? (AllFacebook)
U.S. mobile ad spending is projected to reach nearly $9.6 billion in 2013, accounting for 22.5 percent of digital ad investments. And Facebook was one of the primary drivers, according to the latest report from eMarketer. CNET Facebook shot past most of its competitors to follow Google in ad sales. EMarketer reports the social media site is expected to sell $3.17 billion in ad dollars this year and points to the general growth of mobile as the source of Facebook’s rise. Bloomberg While Facebook will take in 7.4 percent of U.S. digital-ad spending this year, Google will account for $17 billion, or 40 percent. Listed fourth behind Google, Yahoo and Microsoft in 2012, Facebook is stepping up its ad efforts, generating half of revenue from mobile and testing video promotions that play automatically in users’ news feeds. Instagram, which Facebook bought for more than $700 million last year, is also rolling out ads on its photo-sharing service.
Foursquare Gets Another $35M to Build ‘Passive Location Awareness’ (VentureBeat)
On Thursday, Foursquare announced it received funding of $35 million, led by DFJ Growth and Capital Group. “This investment means that we can build our vision even faster. And that you guys are going to see a lot more from our team,” CEO Dennis Crowley wrote. The funding caps off a particularly busy and promising year for Foursquare, which has transitioned from a simple check-in app to a bona fide location-discovery platform.
Ticketing Site SeatGeek Acquires Competitor FanSnap, Shuts It Down (BetaBeat)
SeatGeek, which describes itself as the “Kayak for event tickets,” announced Thursday that it has purchased the assets of FanSnap for an undisclosed price. Since both sites basically do the same thing, SeatGeek’s first acquisition knocks out a major competitor. FanSnap’s website now redirects to SeatGeek’s and the company isn’t transferring over any of FanSnap’s employees.
All App Submissions Must Be iOS 7 Optimized by Feb. 1 (AppNewser)
Apple is aggressively pushing for iOS 7 adoption by requiring developers to optimize apps for iOS 7 as early as Feb. 1, 2014. Not only are there new visual guidelines, apps must also be built using Apple’s new Xcode 5, which could involve a lot more work than tweaking fonts or lines.
California Lawmaker to Introduce Bill Mandating Smartphone ‘Kill Switch’ (HuffPost / Tech)
A California state senator plans to introduce legislation next month that would require every new smartphone sold in the state to carry anti-theft technology that renders the device inoperable if stolen. Sen. Mark Leno’s legislation is the first of its kind in the U.S.
80 Percent of Customer Service Inquiries Go Unanswered on Social Media (SocialTimes)
According to a study by marketing firm Sprout Social, consumer messages on social media that required a response from a company increased by 178 percent in 2013. And brands may be struggling to keep up. Indeed, response rates on both Facebook and Twitter, the networks where consumer messages have increased the most, have dropped below 20 percent.
AP Photojournalist Named ‘Instagram Photographer of the Year’ by Time (AllFacebook)
Veteran photojournalist David Guttenfelder was named “Instagram Photographer of the Year” by Time. The chief Asia photographer for the AP is a seven-time World Press Photo award winner. Of his work, Time wrote: “The photos that end up on Guttenfelder’s Instagram feed are often ones he says wouldn’t have a home elsewhere — of the margins of a scene, of objects cast in still life.”