San Francisco, September 24, 2017: Facebook CEO Mark Zuckerberg has said he wants to sell 35-75 million Facebook shares in the next 18 months to fund the company’s work in education, science, and advocacy.
“Over the past year and a half, Facebook’s business has performed well and the value of our stock has grown to the point that I can fully fund our philanthropy and retain voting control of Facebook for 20 years or more,” Zuckerberg wrote in a post.
“I want to be clear: this doesn’t change Priscilla and my plans to give away 99 percent of our Facebook shares during our lives. I anticipate selling 35-75 million Facebook shares in the next 18 months to fund our work.”
He said his wife Priscilla and he feel a responsibility to do their part to address global challenges — like curing all diseases in their children’s lifetime and personalising education for every student.
He also asked the company’s board to withdraw the proposal to reclassify the stock that he proposed to create last year.
The idea of the proposal was that it would allow Zuckerberg to keep voting control of Facebook so the company can continue to build for the long term and allow Priscilla and him to fund the work the were doing through the Chan Zuckerberg Initiative. (IANS)
San Francisco, October 17, 2017 : Facebook has acquired ‘tbh’, an anonymous polling app for teenagers which has over 5 million downloads and 2.5 million daily active users in the US.
The app lets teenagers anonymously answer kind-hearted, multiple-choice questions about friends, who then receive the poll results as compliments, TechCrunch reported on Tuesday.
“When we set out to build tbh, we wanted to create a community that made us feel happier and more confident about ourselves. We felt that people craved genuine and positive interactions in their online experiences,” ‘tbh’ said in a statement.
“Over the last few weeks, over 5 million people have downloaded tbh and sent over a billion messages. More importantly, we’ve been inspired by the countless stories where tbh helped people recover from depression and form better relationships with friends,” it read.
Financial terms of the deal weren’t disclosed but according to TechCrunch, it is likely to be somewhere around less than $100 million and will not require regulatory approval.
“As part of the deal, tbh’s four co-creators — Bier, Erik Hazzard, Kyle Zaragoza and Nicolas Ducdodon — will join Facebook’s Menlo Park headquarters while continuing to grow their app,” the report added.
“When we met with Facebook, we realised that we shared many of the same core values about connecting people through positive interactions. Most of all, we were compelled by the ways they could help us realise tbh’s vision and bring it to more people,” ‘tbh’ said.
In a statement to TechCrunch, Facebook said: “tbh and Facebook share a common goal — of building community and enabling people to share in ways that bring us closer together”. (IANS)
New Delhi, October 15, 2017 : Indians top ahead of Thailand and Mexico when it comes to using social media while holidaying, says a survey conducted by Expedia.
Indians love to be connected all the time, however, it also means that they do not disconnect from work much.
Indians are globally most anxious on not being able to access WiFi or internet to check work e-mail (59 per cent). In fact they lead in showing a preference for an airline that offers in-flight WiFi (33 per cent). Hence, 14 per cent Indians are always working on a vacation, #1 globally, followed by the US (seven per cent) and Brazil (six per cent).
Social media is emerging as strong driving force in creating vacation happiness with Indians being number one in always taking selfies (22 per cent), posting photos on social media (22 per cent), “checking in” on social media (21 per cent) and connecting with others through social media (19 per cent), said the Expedia survey.
The survey included 15,363 respondents, across 17 countries (US, Canada, Mexico, Brazil, UK, France, Germany, Italy, Spain, Netherlands, Belgium, Australia, New Zealand, Japan, South Korea, India and Thailand)
The survey also highlighted that even though Indians are social media obsessed beach-goers who spend the majority of their time uploading pictures and video, 24 per cent of their compatriots find it very annoying, said the statement. (IANS)
San Francisco, Oct 14:As people debate Facebook’s role in influencing people during the US presidential elections by Russian ads and fake news on the platform, the company’s COO Sheryl Sandberg has stressed that the social media giant is not a media organization, and therefore does not hire journalists.
Sandberg said that Facebook is run by technical workers and engineers and according to her, the company does not produce news content, therefore it can’t be a media company.
In an interview with US-based news website Axios on Thursday, she said, “At our heart we are a tech company. We hire engineers. We don’t hire reporters. No one is a journalist.”
“We don’t cover the news. But when we say that, we’re not saying we don’t have a responsibility. In fact we’re a new kind of platform… as our size grows, we think we have more responsibility,” the executive was quoted as saying.
Business Insider said a firm that is a major source of news and information for people, generates billions in ad revenue and is producing its own original television shows is classified as a media company and Facebook does all of that.
Contrary to her claim, it hired former NBC anchor Campbell Brown in January to head up the company’s news division and work with other journalists to maximise their use of Facebook’s platform.
Reportedly, Facebook does not want to harm its $500 billion valuations by admitting it is a media company. If the company accepts that it is a media firm, it would open the platform up to regulatory rules in the US and other countries which Facebook would rather avoid.
Business Insider said Britain was already considering regulations that would treat it more like a media company.
Meanwhile, on the Russian ad issue, Sandberg said the election meddling on the platform “shouldn’t have happened” and she wouldn’t discuss Russia or Trump.
“We know we have a responsibility to prevent everything we can from this happening on our platforms… and so we told Congress and the Intelligence committees that when they are ready to release the ads, we are ready to help them,” she said.
Sandberg said that if the Russian-linked ads were posted by “real people” and not fake accounts, Facebook would have let their content remain on the site. “When you allow free expression, you allow free expression.”
“Facebook owes the American people an apology. Not just an apology, but determination for our role in enabling Russian interference during the election,” she said. (IANS)