Not all smiles for Facebook executive pay (BusinessTech)
Some of Mark Zuckerberg’s mutual fund backers delivered a tough message on compensation for the leaders of Facebook Inc (NASDAQ:FB). Fidelity Investments, led by its $98 billion Contrafund, was among those voting against the pay of the social media company’s top leaders in a nonbinding contest at its annual meeting in June, its first since going public. Securities filings show other funds voting against the pay included Legg Mason Capital Management Value Trust and Franklin Resources’ Franklin Growth Fund.
Three IPO lessons Twitter should learn from Facebook (TheGlobeAndMail)
Like it or not, Twitter’s stock market debut – when it finally comes – will provide the excuse for the biggest bout of consumer Internet hype since the bungled Facebook Inc (NASDAQ:FB) initial public offering. But that doesn’t mean it has to end in tears. Twitter has been talking constantly to potential advisers and underwriters about the arrangements for its IPO for the past year, according to bankers and others who have met the company, often on multiple occasions. So far Twitter hasn’t signalled when it will fire the starting gun to set its deal in motion – but it has done the careful preparation to be ready to act at any time, according to these people.
Alibaba Seeking Control Leaves HK Bourse in IPO Quandary (Bloomberg)
Hong Kong has a choice: grant Alibaba Group Holding Ltd. a shareholder structure that mirrors the world’s largest Internet companies, or stick to rules meant to protect ordinary investors and risk losing the largest initial public offering since Facebook Inc (NASDAQ:FB). China’s biggest e-commerce company asked Hong Kong’s stock exchange to allow a partnership of more than 20 executives and shareholders to nominate a majority of board members, a person with knowledge of the matter said last week. That would enable founder Jack Ma, who owns just a 7.4 percent stake, and his management team to maintain control after an IPO.
Facebook Announces Businesses Can Run Promotions on Timeline, App Platforms See Opportunity in the Changes (ITBusinessNet)
Facebook has announced that they’ve updated their Pages Terms in order to make it easier for businesses to administer promotions on their Facebook Page. The updated terms state that Facebook no longer requires the use of a third-party application in order to run promotions. Businesses can choose to run promotions directly on their Timeline or using a custom app from a third-party application such as ShortStack. This change will be helpful for small business owners, making it easier for them to host promotions, said Jim Belosic, CEO, ShortStack. Is this the end of apps?
Facebook Says Rise in U.S. Government Requests for User Data (Bloomberg)
Facebook Inc (NASDAQ:FB) said it received 11,000 to 12,000 requests for data from U.S. government entities during the first half of this year, the “vast majority” tied to investigations of crimes such as robberies or kidnappings. …Technology companies including Facebook, Microsoft Corporation (NASDAQ:MSFT) and Google Inc (NASDAQ:GOOG) have pressed the U.S. government for more leeway to report aggregate numbers of data requests, following reports earlier this year that the U.S. National Security Agency is collecting millions of residents’ telephone records and the computer communications of foreigners from Web businesses under court order. Governments must “meet a very high legal bar” to receive any information about users, Facebook said today.