Social Media Newsfeed: Twitter Buy Button | Lawsuit Vs. Yelp

Twitter slowly rolling out Buy button. Court drops lawsuit versus Yelp. These stories, and more, in today's Morning Social Media Newsfeed.

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Twitter.Logo_-150x150Twitter ‘Buy’ Button Launches (Alongside New Twitter Commerce T&Cs) (AllTwitter)
We’ve been tracking the rumors for a while, and now, finally, Twitter’s “Buy” button has launched, and with it some new Twitter commerce terms and conditions. News of the update came via the official Twitter blog: “Today we are beginning to test a new way for you to discover and buy products on Twitter. For a small percentage of U.S. users (that will grow over time), some Tweets from our test partners will feature a “Buy” button, letting you buy directly from the Tweet.” The New York Times The feature — initially limited to mobile versions of Twitter and aimed at selling limited-edition or time-sensitive items like T-shirts and event tickets — could eventually create a new revenue stream for the social network, which currently relies on advertising for virtually all of its income. The test comes as competition in the world of mobile e-commerce intensifies. The Wall Street Journal Twitter said it has partnered with social shopping platform Fancy, direct-to-fan e-commerce company Musictoday, Gumroad and Stripe as platforms for the initial test, and more partners will follow soon. Stripe helps companies accept payments online and in mobile apps, while Gumroad helps artists and others sell products online. Wired According to company spokesman Jim Prosser, Twitter has been “dogfooding” the technology inside the company, but it has not turned on Buy buttons for public use until now. Prosser makes a point of saying that tweets embedded with Buy buttons needn’t be advertisements, or “sponsored tweets,” meaning businesses needn’t pay to give them prime placement in front of the public at large. USA Today Facebook is also testing a feature that lets advertisers sell products directly through ads they buy on the social network. And Pinterest users have demonstrated they are interested in buying products they pin on the service.

Court Rules in Favor of Yelp in Ratings Manipulation Suit (SocialTimes)
In 2010, several business owners filed a class action lawsuit against the online review site, accusing Yelp of extortion and manipulating reviews — or writing fake reviews outright. Last week, the ninth circuit court of appeals dismissed the suit, stating that businesses did not have the right to positive reviews and Yelp has the right to include advertising as part of its business model. The court also noted that the plaintiffs did not provide sufficient evidence to support their claim.

Foursquare Launches Swarm Leaderboards for Types of Locations, Awards Golden Stickers for First Place (The Next Web)
Foursquare Monday announced a new Swarm feature meant to appease those who used to compete for mayorships: leaderboards based on the type of places you check-in to (bars, movie theaters, coffee shops, and so on). Foursquare argues that since “not everyone has friends who go to the same places as them” today’s addition lets you compete against your friends no matter where they are in the world.

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Fox News and Fox Business Are Now Everywhere (LostRemote)
Fox News and Fox Business fans can now watch their favorite channels’ content everywhere. FoxNewsGO and FoxBusinessGO debuted Monday, allowing authenticated video subscribers of the networks to watch the live TV channels on mobile tablets, phones, and desktops at FOXNewsGO.com and FOXBusinessGO.com, MultiChannel reports.

Facebook’s Value Tops $200 Billion on Mobile-Ad Optimism (Bloomberg)
Facebook’s market value exceeded $200 billion to put it among the world’s biggest corporations, as investors bet on the company to capitalize on the future of mobile advertising. Facebook shares rose 0.8 percent to $77.89 at the close in New York, valuing the company at $201.6 billion, according to data compiled by Bloomberg.