Facebook’s market value tops $100 billion (Philly)
Facebook Inc (NASDAQ:FB)‘s market value has passed $100 billion amid optimism that the world’s largest social network can bolster sales from mobile advertising. Early Monday, the stock touched $41.94, its highest intraday price since Facebook’s first trading day on May 18, 2012. Even before closing Monday at $41.34, up 0.79 or 1.95 percent, the shares had advanced 52 percent this year, compared with a 17 percent gain in the Standard & Poor’s 500 Index.
Facebook To Test New Mobile Payments Service (NewsFactor)
Facebook plans to test a mobile Relevant Products/Services payments service that lets users make purchases inside mobile applications using payment information they have added to their account on the social network Relevant Products/Services. Facebook Inc (NASDAQ:FB) said Thursday that it is working on a “very small test” and the company says there is no set schedule for making the service available to users. The service would use payment information that shoppers store on Facebook to automatically complete checkout forms of certain mobile apps. Then, the app Relevant Products/Services would process the purchase.
US judge approves $20 million settlement in Facebook suit (LiveMint)
A US judge on Monday approved a deal in which Facebook Inc (NASDAQ:FB) will pay $20 million for using members “likes” as endorsements for ads. The pot of money is to be divvied up among attorneys, Internet privacy rights groups, and Facebook users who filed claims in the class-action lawsuit. US District Judge Richard Seeborg reasoned that the sum, a small fraction of the billions being sought in the case, was fair given the challenges of proving Facebook members were financially harmed or that signalling “likes” for products didn’t imply some form of consent.
Facebook spruces up ads with Shutterstock partnership (BtoBonline)
Facebook Inc (NASDAQ:FB) has forged a partnership with stock photography agency Shutterstock Inc (NYSE:SSTK) to allow marketers to select free stock images for their Facebook ads. Facebook now will allow marketers to select from 25 million free Shutterstock Inc (NYSE:SSTK) images for their ads, and also allow the uploading of multiple images at a time to build variations for A/B testing, the company said in its Facebook for Business blog. Previously, advertisers had to supply their own images for their ads and upload them one at a time.
Facebook hits 52-week high (CNBC)