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Facebook CEO Mark Zuckerberg Loses $15 Billion in Just 5 Minutes

27Jul By Gauri SinghNo Comments

Market

Facebook CEO Mark Zuckerberg Loses $15 Billion in Just 5 Minutes

Mark Zuckerberg, the founder and CEO of the most popular social networking platform Facebook lost $15.1 billion in just 5 minutes! For most of the world’s richest people, losing $15.1 billion in five minutes would be a wipeout. However, for Mark Zuckerberg, it’s just about a sixth of his net worth. The Facebook CEO lost a considerable amount of wealth as shares of the social-media giant plunged 19 per cent on Thursday. This loss recorded the biggest one-day wipeout of individual wealth ever recorded on the ranking, which started tracking the world’s biggest fortunes in 2012. Other big Facebook investors also took a hit as disappointing second-quarter results terminated $119 billion of market value, the most ever in a day for a U.S. company. Co-founders Dustin Moskovitz and Eduardo Sa...

25Jul By Gauri SinghNo Comments

CHINA

Facebook Establishes Subsidiary in China Despite Toughened Censorship

The social media major Facebook has established a subsidiary in China, where its sites have remained blocked in the country’s restrictive markets. A subsidiary is being set up for the purpose of creating an ‘innovative hub’ to support and encourage local start-ups and developers. The subsidiary called Lianshu Science & Technology has been registered in the central Chinese city of Hangzhou and was set up with a registered capital of $30 million. According to the reports, the filing listed Facebook Hong Kong Ltd and no other entities as a shareholder. Zhang Jinghai has been named as the new company's legal representative, on the other hand, David Kling and Susan Taylor are appointed as directors. A Facebook representative stated that the new subsidiary is expected to give birth to ...

Facebook Applying Security Measures Ahead of Pak Elections

8Jul By PriyankaNo Comments

News

Facebook Applying Security Measures Ahead of Pak Elections

Facebook has enhanced its security measures to protect the integrity of the July 25 general elections in Pakistan and prevent the spread of false news, a spokesperson for the social media giant, which has been plagued by a massive data leak scandal, said. Facebook founder Mark Zuckerberg had to face a grilling in the US and in the European Parliament over the Cambridge Analytica scandal, in which Facebook was accused of unduly influencing the 2016 US electoral process. Sarim Aziz, Facebook's spokesperson in Pakistan, said that for the coming elections in Pakistan the company had increased its safety and security staff to monitor all activities connected with the elections and to protect the integrity of the elections. "We have increased the number of safety and security people on our ...

Despite of Data Controversy, Facebook Stock Closes All Time High

7Jul By PriyankaNo Comments

Market

Despite of Data Controversy, Facebook Stock Closes All Time High

The social media giant Facebook stock closes at an all-time record high of USD 203.23. Despite Cambridge Analytica data scam controversy, Facebook is still fetching a good number of returns. Investors are loving the social network more than ever that saw its stocks dipping earlier in 2018 after the scam controversy hits. Facebook revenue projections for 2020 at USD 87.5 billion. The firm currently has Facebook with a buy rating and a price target of $275. "Messenger has been deploying more ads in recent weeks and should be “highly material” to profits. And Instagram has reached 1 billion monthly active users," the company said today. ALSO READ: Online Startup SaleBhai Received BSE Approval for SME IPO After grabbing attention in 2012, Facebook has seen its stock rise...

Facebook Boardroom War in Swing : Investor’s Want Mark Zuckerberg To Step Down

27Jun By Lavina TolaniNo Comments

News

Facebook Boardroom War in Swing : Investor’s Want Mark Zuckerberg To Step Down

Amidst growing series of scandals, data breach allegations, and Cambridge Analytica disaster, social media company Facebook is facing investor's fury where investors are growing increasingly restless on how Facebook is run, demanding radical changes. According to Business Insider's conversation with six prominent shareholders, it is clear that investors have become rebellious over company's corporate governance structure which hands Mark Zuckerberg the sole power as both CEO and Chairman. New York City Comptroller Scott Stringer, who oversees around $895 million of Facebook shares through city pension funds said, "We have concerns about the structure of the board that the company doesn't seem ready to address, which can lead to risks - reputational, regulatory, and otherwise." While ...

Facebook Pacts With Digital Forensic Research Lab to Fight Election Interference

18May By Lavina TolaniNo Comments

News

Facebook Pacts With Digital Forensic Research Lab to Fight Election Interference

Social Media Giant Facebook has announced a partnership with Washington based Atlantic Council's Digital Forensic Research Lab in a bid to prevent its platform from being used in election meddling. The Research Lab will hold the responsibility to monitor disinformation and other vulnerabilities in elections globally, including in India. The Experts will work closely aligned with Facebook's security, policy and product teams to get in real time insights and updates on information and threats happening around the world. Katie Harbath, Global Politics and Government Outreach Director at Facebook, said, This will help increase the number of 'eyes and ears' we have working to spot potential abuse on our service - enabling us to more effectively identify gaps in our systems, pre-empt obst...

WhatsApp Update: New Features Introduced For Group Chats

16May By Lavina TolaniNo Comments

Tech

WhatsApp Update: New Features Introduced For Group Chats

Messaging Service Platform, WhatsApp has rolled out a new group chat feature on Tuesday, that will enable better controls for administrators as well as regular group members. The very first change that will come into effect with the update is that now a WhatsApp group will give a brief description to help clarify the purpose and guidelines for the group chat. The description will pop up on the top whenever a new user will join in the group conversation. This will bring more clarity to the purpose, topics and guidelines for that particular group Post the new update, Users will be able to leave a group permanently to avoid being added back after they have left, informed Facebook-owned WhatsApp in a blog post. The Blog post read, Groups have been an important part of the WhatsApp...

WhatsApp “Status” Feature Hits 450 Million Users, Beating Snapchat “Stories”

3May By Lavina TolaniNo Comments

Tech

WhatsApp “Status” Feature Hits 450 Million Users, Beating Snapchat “Stories”

Facebook was blamed for replication when it had copied the Sanpachat's trademark "Stories" and rolled out "Status Feature" in February last year. But, today the tables have turned different as the messaging service platform, WhatsApp owned by Facebook has crossed 450 million daily active user base worldwide. Snapchat currently holds 191 million daily user base which is just one-third of what is acquired by WhatsApp. In addition, the leading messaging service provider has 1.5 billion users using the app making it be leading in numbers at the technology landscape. Even though the feature was introduced to beat the competition from Snapchat, it brought a great change in the way people began interacting with the app daily, turning it out to be an instant success. Snapchat which started o...

The Dark Truth Behind Whatsapp Founders Leaving Facebook

2May By Sheldan RungasamyNo Comments

Story

The Dark Truth Behind Whatsapp Founders Leaving Facebook

Yesterday we published a breaking news stating that billionaire and chief executive of Whatsapp, Jan Koum, was planning to leave the parent company, Facebook. Whatsapp’s Last Remaining Co-Founder Exits Facebook. While the departure seemed friendly between the Chief Executive of Whatsapp, Jan Koum, and Chief Executive of Facebook, Mark Zuckerberg but the departure motives suggest otherwise. According to several US media reports, the decision to leave his high position in the ranks of Facebook and its board of directors as well was motivated by disagreements about the company’s future. Reports suggest that Koum disagreed with the social media giant’s plan to weaken the messaging app’s encryption and strategy to use specific user information to earn money from Whatsapp. ...

Whatsapp’s Last Remaining Co-Founder Exits Facebook

1May By Sheldan RungasamyNo Comments

News

Whatsapp’s Last Remaining Co-Founder Exits Facebook

Jan Koum, the co-founder of social messaging app Whatsapp announced that he was leaving Facebook, which acquired the messaging service in 2014 for $19 billion. Koum announced his decision to leave the ranks of Facebook to the public on his Facebook page, citing that he will now focus on his passions off work such as collecting air-cooled Porsches, working on cars and playing ultimate Frisbee. According to several US media outlets, the departure is mostly due to disagreements with Whatsapp’s parent company, Facebook, over the use of users’ information on the messaging service app. Indeed, reports suggest that Facebook is looking for ways to use private user information to raise income from its daughter company in ad-targeting strategies similar to those employed on Facebook and Instag...

The Top 5 Biggest Controversies of Facebook

18Apr By Lavina TolaniNo Comments

Story

The Top 5 Biggest Controversies of Facebook

It is rightly said, “Criticism, like rain, should be gentle enough to nourish a man’s growth without destroying his roots." The quote from Frank A. Clark rightly fits in the scenario, where world's biggest media website Facebook is ongoing a heated criticism worldwide post its data breach controversy and Cambridge analytica scandal. But, you would be surprised to know, this is not the first time when the social media giant has been in "hot waters". Right from its foundation, early days to its taking the online world, it has faced numerous brickbats and contention time and again that has garnered a lot of attention worldwide. The company that today has nearly 2.2 billion monthly active users worldwide has witnessed some major controversies time and again. It has faced debacles over priva...

Even Zuckerberg Personal Data was Breached by Cambridge Analytica

12Apr By NitishNo Comments

News

Even Zuckerberg Personal Data was Breached by Cambridge Analytica

Mark Zuckerberg, the founder, and CEO of Facebook revealed shocking news during the testimony before the House Energy and Commerce Committee that even his personal data was taken and sold by UK based analysis firm Cambridge Analytica. 87 million users personal data harvested by the company is used for political purposes in the US presidential elections. In which half of the million data of Indian users. During the series of questions asking by the committee, Zuckerberg was asked if his personal data was included in the information sold to the "malicious third parties" to which he replied "yes". As per the guidelines are given by the US Congress committee, Facebook has started to notify those users whose data have been breached. Zuckerberg said, "it is going to take some time to wor...