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LinkedIn to Offer $1 Billion in Stock (The Wall Street Journal)
LinkedIn looking to capitalize on a strong run-up in its share price, filed Tuesday to raise $1 billion in a follow-on stock offering. After going public at $45 a share in May 2011, LinkedIn’s stock has more than quintupled. VentureBeat The “business social network” explained in the filing that it wants to use the extra capital to work on product development, international expansion, build out its “field sales organizations,” infrastructure needs and acquisitions. The company is offering its underwriters $1 billion of its Class A common stock. TechCrunch The banks participating in the deal have the option to buy up to 15 percent of the offered shares in addition, bringing the total capital infusion to a potential $1.15 billion. In the listing, LinkedIn estimates that following the offering, its cash, equivalents and short-term investments — colloquially just called cash by investors — will rise from $873.4 million to $1.85 billion. The second figure does not include the potential for the additional $150 million sale of stock to investment banks. AllThingsD LinkedIn will continue to be controlled by its founders and leaders, in particular chairman Reid Hoffman, who holds Class B stock, worth 10 votes per share. Hoffman will maintain 59.3 percent of the voting power of outstanding capital stock, LinkedIn said in the filing. The Next Web In related news, LinkedIn plans to phase out publisher pages on its curated news portal LinkedIn Today, and migrate followers to company pages where possible. In an email sent to company page administrators, LinkedIn said the change will be rolled out this month.
Study: Hashtags are a Turn-Off on Facebook, Reducing the Viral Reach of Posts (The Next Web)
Are Facebook hashtags useful in accelerating a company’s post’s viral reach? A recent study by Facebook analytics service EdgeRank Checker states that posts with hashtags do not have as great of reach than those without.
IFTTT Adds Channels, Triggers and Embeddable Recipes (SocialTimes)
You can create your own recipes using tons of available channels and triggers – or you can use any of the publicly available recipes already made. And did we mention, it’s free? Yup, it is.
Facebook Bans Birdwatching Ad for Referring to ‘Juvenile Boobies’ (Mashable)
An ad for birdwatching from Australia’s Christmas Island appears have run afoul of Facebook’s rules. The social network banned a cheeky ad for its Bird ‘n’ Nature Week that referred to “boobies,” a double entendre that ostensibly refers to birds known by that name. However, the ads may have pushed things too far by with a call for “Some gorgeous shots here of some juvenile boobies,” combined with images of a brown booby, a red-footed booby, brown booby and an Abbott’s booby.
Study: How Generation Y Employees Feel About Social Media In The Workplace (AllFacebook)
What do generation Y employees, or those between the ages of 18 and 34, expect from their workplaces in terms of social media? Gen Y research and consulting firm Millennial Branding and American Express polled 1,000 of them to find out.
Uber Hires Former Google, Facebook, Klout Executives (CNET)
Uber has hired three executives from Google, Facebook and Klout to help manage the business, and rapid growth, of the car service company. In a blog post Tuesday, CEO Travis Kalanick announced the new hires: former Google treasurer and chief accountant Brent Callinicos, former Klout COO Emil Michael, and Ed Baker, Facebook’s head of international growth.
Facebook’s Head of Consumer and Mobile Marketing Jumps Ship for Twitter (AllTwitter)
In more human resource news, Twitter has hired Facebook’s consumer and mobile marketing head Kate Jhaveri, who will take on the role of senior director of consumer marketing. During her time at Facebook, Jhaveri took the marketing lead on the company’s platform and credits products, and its preferred marketing developers program.
Alabama WR Kenny Bell Says Via Twitter He’s Leaving Team (USA Today)
Senior wide receiver Kenny Bell’s playing days are over at Alabama, according to a string of posts released from his Twitter account Tuesday. “I’ve made so many memories here @Alabama but some things you gotta let go,” he tweeted Tuesday. “…it’s been a nice run but I’m hanging up my cleats.”
Vine-1-1 Parody App for Simultaneous 911 Calls While Recording Emergencies (AppNewser)
Parodies come in all shapes and sizes. Now, they’re in the form of app concepts. This one mocks the nature of recording real life emergencies rather than acting on those emergencies – like calling 911 or making a vine of a truck jump a highway guardrail.