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Twitter Preparing for $15 Billion 2014 IPO, Say Sources [Report] (AllTwitter)
Twitter is preparing itself for an initial public offering (IPO) that could value the company as highly as $15 billion, reports The Sunday Times, citing anonymous (but nonetheless compelling) senior banking sources. Twitter’s CEO, Dick Costolo, has already met with potential advisers from Morgan Stanley, Goldman Sachs and JP Morgan, adds the paper, and is expected to select several investment banks in the weeks ahead in preparation for the stock market offering, which is anticipated to take place as early as the first quarter of 2014. The New York Times/Bits Blog Alex Macgillivray, Twitter’s chief lawyer and the Internet industry’s most prominent champion of free speech rights, announced on Friday that he would step down from his post, as the company expands its global footprint and prepares for a widely anticipated public offering sometime next year. The company announced the appointment of a new general counsel, Vijaya Gadde, who had managed the company’s corporate affairs for the last two years. Macgillivray, who is better known as AMac, said he would continue in an advisory role. TechCrunch “I’ll continue to support the company and its great people by staying on as an advisor for the legal, trust & safety, corporate development and public policy teams,” says Macgillivray. “I continue to care deeply about Twitter, the folks who work at Twitter and our tremendous users, so I’ll remain close to all three. AllThingsD When contacted, a Twitter spokesperson offered no explanation for the departure. While several sources close to the situation said there were no issues around his job performance or other problems, they offered other reasons for his leaving. The Guardian In related news, Twitter will unveil its first Australian headquarters this week, appointing former Google Asia-Pacific executive Karen Stocks as its Australian managing director. The social networking giant has been steadily increasing its presence in Australia since late 2012, with a still-growing roster of staff and high-profile partnerships with several sporting codes and media organizations.
Facebook Flaw Allowed Hackers to Delete Posted Photos (CNET)
A security flaw that allowed hackers to delete any image stored on Facebook has been discovered by Indian researcher Arul Kumar — and he has been rewarded for his efforts. The Facebook flaw, explained in length on Kumar’s blog, exploits the Facebook Support Dashboard. Considered “critical,” the bug works with any browser and any version, but was most successfully exploited through mobile devices.
How a Closed Facebook Group & Weight Watchers Helped Me Lose 94.6 Pounds (SocialTimes)
On Tuesday, Aug. 27, I reached my Weight Watchers goal – I lost 94.6 pounds since January 2012. I wouldn’t have been able to accomplish this feat without the constant support of my wife, Joy (who has also lost about 55 pounds on the program), other family and friends, my meeting leaders Jennifer and Crystal, and all the Weight Watchers members in our Port Jervis, N.Y., chapter. But there has been another resource that has really helped me get through the last few months of reaching my goal: Facebook.
It’s Now a Lot Easier to Use Your WordPress.com Custom Domain for Your Email Address (The Next Web)
If you’re a WordPress.com user with a custom domain set up for your blog, you’ll now be able to easily use that domain for your email address, directly from the WordPress admin console. WordPress.com parent company Automattic has launched a new Email Forwarding feature that lets you forward email sent to your blog’s domain on to your existing email address with a few clicks.
How Sam’s Chowder House Stirs Facebook into its Marketing Soup (AllFacebook)
One of the biggest challenges mentioned by small business owners when it comes to marketing on Facebook is devoting the necessary time. Julie Shenkman, owner of Sam’s Chowder House in Half Moon Bay, Calif., spoke with Facebook about how the social network became one of the necessary ingredients in her marketing recipe.
Did Syrian President’s Son Hafez Assad Post Anti-U.S. Facebook Rant? (The Huffington Post)
In a lengthy Facebook post this week, someone who evidence suggests is Syrian President Bashar al-Assad’s 11-year-old son denounced the United States and pledged to fight to the death to remain “in our holy land.” The diatribe was posted by an account using the name Hafez Assad, according to Gawker.
Kobe Bryant Posts His First Vine (LostRemote)
In just a few months the NBA will return to TV. Kobe Bryant, however, won’t be as he recovers from a bad achilles injury. Instead, he’s using Vine to stay relevant during his absence from television and the NBA.
New Jersey Makes it Illegal for Companies to Demand Employee Social Media Info (The Daily Dot)
With Gov. Chris Christie’s signature, New Jersey recently became the latest state to pass a law preventing companies from asking for social media user names, passwords, or other account info from employees. Not that you’ve been making fun of your boss on Twitter … right?
Former Facebook Exec Launches Word Processing App Quip (AppNewser)
Facebook’s former chief technology officer Bret Taylor has created a new word processing app called Quip. It’s a great tool for writers and editors to collaborate.