Click here to receive the Morning Social Media Newsfeed via email.
Saudi Prince to Hold Twitter Stake, Sees IPO By Early 2014 (Reuters)
Saudi billionaire Prince Alwaleed bin Talal says he will not sell any of his shares in microblogging site Twitter when it goes public, and expects the firm’s IPO to hit the market later this year or in early 2014. The prince, a nephew of Saudi Arabia’s King Abdullah and owner of international investment firm Kingdom Holding 4280.SE, invested $300 million in the social media giant in late 2011. The New York Times/Dealbook Investors and deal makers are hoping that Twitter’s coming stock sale will help the once-soaring technology sector take flight again. Analysts have estimated that Twitter could be valued at more than $10 billion and raise hundreds of millions of dollars, making it the biggest technology I.P.O. since Facebook. That would be manna to a landscape that has been a bit barren lately, although some changes in the technology sector are likely to temper any broad expansion of new stock sales. The Wall Street Journal A lot of mobile-ad growth will come from companies like Google and Facebook allocating ad money to mobile, as opposed to mobile-specific purchases on the part of advertisers, according to Brian Wieser, an analyst with Pivotal Research Group. For investors, Twitter will offer a pure-play mobile option. USA Today Twitter’s use of a new type of confidential filing to test the IPO waters makes clear how recent changes to U.S. securities laws have given companies more control of their initial stock sale — yet have also resulted in less transparency for retail investors. The company’s decision to use its own service to announce it filed the secret registration document — but not disclose its financials — is also a bit ironic, given that Twitter’s technology has the potential to provide greater transparency on public companies. New York Post When Twitter was barely a twinkle in cofounder Jack Dorsey’s eye, New York venture capitalist Fred Wilson, a managing partner in Union Square Ventures, was one of the few investors to see its potential to change the world — and make a lot of money in the process. Now, Wilson — known as New York’s tech godfather — is among the earliest Twitter backers set to cash in on the company’s public debut.
Twitter Cofounder Evan Williams Lays Out His Plan for the Future of Media (TechCrunch)
In related news, Twitter cofounder Evan Williams has an ambitious new plan: to shift our daily reading habits away from consuming incremental news bites and toward engaging with enlightened ideas curated by an intelligent algorithm. Ordinarily, such a goal would seem utopian, were it not for the fact that Williams is among a handful of Internet pioneers who have disrupted the media industry multiple times.
How Storyful Determined The Viral Twerking Video Was Fake (SocialTimes)
It generated more than 10 million views before viral video maestro Jimmy Kimmel admitted he was behind the twerking video “Worst Twerk Fail Ever.” But social news agency Storyful says they spotted the video as a fake when the spot had a mere 301 YouTube views.
Rdio to Offer Free Music Service as Part of Cumulus Radio Pact (CNET)
Online subscription music service Rdio plans to launch a free, ad-supported music service as part of a partnership with radio station operator Cumulus, according to The New York Times. The deal, which is expected to be announced Monday, will give Rdio “broad access” to the terrestrial radio giant’s programming to help it compete better with Spotify and Pandora and promote Rdio’s service across Cumulus’ 525 radio stations.
Daughtry Turns to Facebook, Twitter for Title, Artwork of New Single (AllFacebook)
Rock band Daughtry has taken to Facebook and Twitter for the title and artwork of its new single this week. The group’s frontman, “American Idol” alum Chris Daughtry, launched a social media campaign that puts profile pictures of the group’s Facebook and Twitter fans into the artwork for the single.
HasOffers Acknowledges Privacy Violation with Facebook User Data (VentureBeat)
Has Offers has grown quickly as a mobile analytics and monetization firm that takes Facebook data and targets ads at users on behalf of game and app publishers. But the company recently ran afoul of Facebook’s user privacy policies, and it has had to change its marketing practices, VentureBeat has learned.
You Can Now Filter Mentions on Twitter (If You Have a Verified Profile) (AllTwitter)
Many users (ahem) have been pushing for filters on Twitter since way back, as they’d be a really useful way to find signal among what, let’s face it, can be an awful amount of noise amongst all those tweets, especially during busy periods. Good news! Twitter has started rolling out filters in mentions for verified accounts.
Did Social Media Bullying Prompt 12-Year-Old’s Suicide? [Video] (NBC News)
Rebecca Sedwick’s mother says she jumped to her death after being terrorized online. NBC’s Charles Hadlock reports.
Front/Back App Lets You Take Photos with Both of Your Phone’s Cameras (AppNewser)
The Frontback app is another free photo app with one very special function – it lets you take two photos with both of your smartphone’s camera with one shot. Wait, why has no one done this yet?