Morgan, the lead underwriter in Facebook's IPO this past spring, has faced criticism from Facebook shareholders who claimed that certain material information was concealed prior to the … Read more
A U.S. judge has named the lead plaintiffs in the dozens of class-action lawsuits brought against Facebook over its bungled initial public offering, according to Reuters.
District Judge Robert Sweet has been assigned 42 cases against the social network, which he consolidated in October. Today he picked a handful of plaintiffs to head the suits. The lead plaintiffs include several state pension funds, such as the North Carolina Retirement Systems, Arkansas Teacher Retirement System, the Fresno County Employees' Retirement Association, and Banyan Capital Master Fund. Collectively, this group claims a combined loss of $7.1 million.
"Its members … Read more
PARIS -- Lending Club, a startup that connects people who want to borrow money with those who want to lend it, is profitable and plans to go public.
Chief Executive Renaud Laplanche discussed the initial public offering at the LeWeb conference here. "We're planning on going public in the next few years," he said in an on-stage interview, then confirmed he'd earlier said 18 months.
An IPO of course brings new funds, though Lending Club currently has $50 million in cash, but Laplanche said he wants to go public for the higher profile it brings. "… Read more
The largest set of Facebook stock shares available since May, when the company went public, could hit the market on Wednesday as the social network's employees are given the green light to sell off 773 million shares.
Wednesday marks the expiration of another "lockup" period, which means early investors and Facebook employees, including those who joined before 2011, will be able to sell off 773 million common shares, plus 31 million in restricted stock units.
Square is different than any other startup that has come before it, and its growing influence and size will inevitably lead to a change in the way entrepreneurs run their companies and venture capitalists invest.
There's no doubt that Square is on the rise, but it is set to accelerate its growth, thanks to a strategic investment from Starbucks that places Square's technology in front of millions of consumers. And thanks to Starbucks, Square's revenue and valuation are set to soar.
Players are spending 20 percent less on Zynga games, which means Facebook is receiving less money from those games as well.
"Overall, gaming on Facebook isn't doing as well as I'd like," Facebook CEO Mark Zuckerberg said during the company's third-quarter earnings conference call today. He said the rest of Facebook's gaming network has been growing -- monthly payments revenue from other games has increased by 40 percent since last year -- but Zynga's numbers have fallen.
Zynga's payment revenue has gone down 20 percent since last year's third-quarter earnings, Facebook'… Read more
The Securities and Exchange Commission didn't find any evidence that Facebook withheld pertinent information from investors prior to its initial public offering, Bloomberg reported today.
The commission began investigating the social network's initial public offering, or IPO, in May, after Facebook's stock dropped. The stock still hasn't recovered from that day, and is currently trading at around half of its $38 IPO price.
While the investigation isn't over, the commission has determined that Facebook did not act wrongly, an unnamed source told Bloomberg. The SEC is still looking at whether or not retail investors lost … Read more
Facebook's recent push to make money could backfire, warns an analyst who believes a user backlash may depress its shares to $16 over the next year.
BTIG analyst Richard Greenfield lowered his firm's target price for Facebook today, citing concern over Facebook's "aggressive" increase of monetization efforts, particularly mobile ads, according to his report. Facebook's stock opened at $20.40 a share this morning.
Since going public in May, Facebook has faced increasing pressure from investors to demonstrate that it can keep revenue and profits growing quickly. The social network has increased advertising efforts, … Read more
Yesterday, Zynga announced a big write-off and told Wall Street its growth was slowing. Today, Wall Street returned the favor by crushing Zynga shares, forcing them down 12 percent to $2.48.
Analysts say Zynga could still recover. It remains a leader in the casual-gaming industry, with more than 300 million monthly users, and as of July 30, it held a decent financial cushion in the form of $436 million in cash and equivalents on hand -- a good chunk of the $1 billion it raised in its IPO late last year.
It's starting to look like Zynga's … Read more
Huawei, the embattled Chinese mobile company looking to expand its footprint internationally, is now eyeing an initial public offering, according to a new report.
Huawei has contacted investment banks to learn more about the process that would eventually take its shares public, The Wall Street Journal is reporting today, citing sources. The company isn't sure yet where it might list its stock and doesn't know how that process might go, according to the Journal's sources.
Over the last several months, Huawei, which derives much of its business activity from telecommunications equipment, has come under fire in the … Read more