Social media | Pixr8 News

Facebook buys Reliance Jio 9.9% Stake for $5.7 billion

22Apr By AdityaNo Comments

ACQUISITION

Facebook buys Reliance Jio 9.9% Stake for $5.7 billion

Facebook announced an acquisition of a 9.9% stake in India's largest telecom operator Jio Platforms Ltd for USD 5.7 billion (Rs 43,574 crore). With this deal, the social media giant looks to expand its presence in its largest subscriber-based market. "Today, we are announcing a USD 5.7 billion, or Rs 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder," the fb said in a statement. Facebook's move to pick up about a 10 percent stake in Jio Platforms will accelerate Jio's digital monetization drive and put Reliance Industries (RIL) on course to turn net debt-free by March 2021, said Indian analysts. It said that Facebook's investment into this entity will further Reliance Industries' digital in...

Facebook Launched Unified Payment System for Messenger, Instagram, WhatsApp

13Nov By AdityaNo Comments

News

Facebook Launched Unified Payment System for Messenger, Instagram, WhatsApp

San Francisco, Nov 12: Zuckerberg led Facebook said it is consolidating the system that handles payments at the social network and in its family of messaging apps. The move comes in a climate of political rhetoric that includes calling for the California-based internet company to be broken up. Transactions such as payments or donations at Messenger, Instagram, WhatsApp or the main social network will eventually be handled by a unified Facebook Pay system, according to marketplace and commerce vice president Deborah Liu. "People already use payments across our apps to shop, donate to causes and send money to each other," Liu said in an online post. "Facebook Pay will make these transactions easier while continuing to ensure your payment information is secure and protected." Fa...

Facebook Profit Climbs Even After Criticism over Data

1Nov By PriyankaNo Comments

News

Facebook Profit Climbs Even After Criticism over Data

31st Oct, 2019-- Leading Social media platform Facebook reported that its profit topped $6 billion on revenue that climbed 28 percent to $17.4 billion in the quarter that ended on September 30. Meanwhile, the number of active monthly users increased eight percent from a year ago to 2.45 billion. "We had a good quarter and our community and business continue to grow," said Facebook chief and co-founder Mark Zuckerberg. "We are focused on making progress on major social issues and building new experiences that improve people's lives around the world."Facebook shares rose more than four percent in after-market trades that followed the release of the earnings figures, which beat Wall Street expectations. "Advertisers continue to support Facebook, despite the many controversies swirli...

Investor Paypal is Cautious about Facebook Cryptocurrency Libra

14Sep By PriyankaNo Comments

News

Investor Paypal is Cautious about Facebook Cryptocurrency Libra

PayPal is cautious about the future of Facebook-backed cryptocurrency Libra, which is slated to debut with the pioneering digital payments firm as part of its oversight association. The International outcry is mounting over Libra with central banks, governments and regulators railing against Facebook's upstart cryptocurrency and questions over how it would be regulated. The social media giant unveiled plans in June for Libra which will roll out in 2020 to be backed by a basket of currency assets to avoid the wild swings of Bitcoin and other virtual units. "It's a non-binding commitment," PayPal investor relations vice president Gabrielle Rabinovitch said, the California-based company signing on to the Libra Association. "And obviously, I think there's a lot of work to happen b...

Facebook to make Jobs, Credit ads searchable for US users

1Jul By PriyankaNo Comments

USA

Facebook to make Jobs, Credit ads searchable for US users

Facebook says it will make advertisements for jobs, loans and credit card offers searchable for all US users following a legal settlement designed to eliminate discrimination on its platform. The plan disclosed in an internal report Sunday voluntarily expands on a commitment the social media giant made in March when it agreed to make its US housing ads searchable by location and advertiser. Ads were only delivered selectively to Facebook users based on such data as what they earn, their education level and where they shop. The searchable housing ads database will roll out by the end of 2019, Facebook says, and the employment and financial product offerings databases to be available within the next year. Targeted ads tailored to individuals are Facebook's bread and butter accou...

Instagram rolls out new less data consumption feature

5Jun By PriyankaNo Comments

News

Instagram rolls out new less data consumption feature

Facebook led social media platform Instagram opt a new feature that will allow users to reduce the amount of data consumed on the photo-sharing platform. The feature has been designed specifically for emerging markets where data plans and internet speeds may be limited, Instagram said in a statement."With this opt-in mode, people across the world can view their favourite content on Instagram with reduced image loading time, by reducing the amount of data that Instagram uses on their mobile phones," it added. While the Facebook-owned company doesn't disclose country-specific user count, reports suggest globally, it has over a billion users. Once enabled, videos will not be pre-loaded and high-resolution images will not be downloaded, except in certain circumstances that the user c...

Indian Company Discover Data Flaw in Instagram, Company denies it

24May By AnkitaNo Comments

Tech

Indian Company Discover Data Flaw in Instagram, Company denies it

Instagram has said it was not the source of private contact information for millions of influential users of the service recently found in an unguarded online database. The online cache of data, which was discovered by a security researcher, was found by a news website, which reported that it was traced back to Mumbai-based social media marketing firm Chtrbox. "We take any allegation of data misuse seriously," an Instagram spokesperson said. "Following an initial investigation into the claims made in this story, we found that no private emails or phone numbers of Instagram users were accessed." The Chtrbox database contained publicly available information from an array of sources, one of which was Instagram, according to the image-centric social network. In response to an AFP ...

Facebook removed 3 billion fake accounts in 6 months

24May By PriyankaNo Comments

News

Facebook removed 3 billion fake accounts in 6 months

Facebook removed more than 3 billion fake accounts from October to March, twice as many as the previous six months, the company said Thursday. Nearly all of them were caught before they had a chance to become "active" users of the social network. In a new report, Facebook said it saw a "steep increase" in the creation of abusive, fake accounts. While most of these fake accounts were blocked "within minutes" of their creation, the use of computers to generate millions of accounts at a time meant not only that Facebook caught more of the fake accounts, but that more of them slipped through. As a result, the company estimates that 5% of its 2.4 billion monthly active users are fake accounts, or about 119 million. This is up from an estimated 3% to 4% in the previous six-month report...

Facebook introduces “One strike” policy to stop misuse of Facebook live

15May By AnkitaNo Comments

News

Facebook introduces “One strike” policy to stop misuse of Facebook live

The social media giant Facebook introduces a new "One strike policy" for its users to tackle misuse of Live streaming services. An incident like terrorist attacks in New Zealand, which goes live on Facebook raises certain alarms about the misuse of Facebook Live. Considering that, Facebook will block those users who have broken certain rules of Facebook Dangerous Organizations and Individuals policy. In its press release the social media company said, Today we are tightening the rules that apply specifically to Live. We will now apply a ‘one strike’ policy to Live in connection with a broader range of offenses. From now on, anyone who violates our most serious policies will be restricted from using Live for set periods of time – for example 30 days – starting on their first of...

Facebook building privacy-focussed social media platform: Zuckerberg at f8 summit

1May By AdityaNo Comments

Entrepreneurs Talk

Facebook building privacy-focussed social media platform: Zuckerberg at f8 summit

Mark Zuckerberg at the Facebook annual f8 event announced that the company was committed to building a "privacy-focussed" social platform to ensure that conversations stay private and user data is secure across its products like Messenger, WhatsApp, and Instagram. He acknowledged that there are privacy concerns related to its platforms, but asserted that he remains committed to bringing in changes and "starting a new chapter". "As the world gets bigger and more connected, we need that sense of intimacy more than ever. So that is why I believe the future is private," Mark said. "This is the next chapter for our services... We don't exactly have the strongest reputation on privacy right now, to put it lightly. But I'm committed to doing this well and starting a new chapter for our ...

Facebook spends $22.6 million on Mark Zuckerberg’s security

13Apr By PriyankaNo Comments

News

Facebook spends $22.6 million on Mark Zuckerberg’s security

Facebook Inc in a regulatory filing revealed that it spent $22.6 million on Chief Executive Officer Mark Zuckerberg's security in 2018. Nearly $20 million went toward security for Zuckerberg and his family, up from about $9 million the year prior. Zuckerberg also received $2.6 million for personal use of private jets, which the company said was part of his overall security program. Zuckerberg has drawn a base salary of $1 for the past three years, and his "other" compensation was listed at $22.6 million, most of which was for his personal security. Chief Operating Officer Sheryl Sandberg took home $23.7 million in 2018 compared to $25.2 million last year. Facebook has in the past few years faced public outcry over its role in Russia's alleged influence on the 2016 U.S. presi...

Pinterest offers $15-$17 per share in IPO, Values below than $12 billion

8Apr By AdityaNo Comments

Market

Pinterest offers $15-$17 per share in IPO, Values below than $12 billion

Social media platform Pinterest Inc set a price range of $15 to $17 per share for its IPO valuing it below than the $12 billion at which the company raises the last funding in 2017. Pinterest offers 75 million shares through its IPO. After this proposal, the company valuation will be at $10.6B vs previous valuation of $12.3B Earlier, Reuters had reported that Image search social media platform Pinterest list itself on the New York Stock Exchange under the symbol “PINS”. The company, which owns the image search website known for the food and fashion photos that its users post, reported annual revenue of $755.9 million in 2018, up 60 percent from a year earlier. But it remains unprofitable even though its net loss narrowed to $62.97 million in 2018 from $130 million a year ear...