Social Media Highlights: Facebook Inc (FB)’s Payout, Yelp Inc (YELP) & LinkedIn Corp (LNKD)’s Terms of Services

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Editor’s Note:  Facebook Inc (NASDAQ:FB), Yelp Inc (NYSE:YELP), LinkedIn Corp (NYSE:LNKD), Google Inc (NASDAQ:GOOG)

Facebook to compensate users for sharing details on ads (BBC)
Approximately 614,000 Facebook Inc (NASDAQ:FB) users whose personal details appeared in ads on the site without their permission will each receive a $15 (£9.65) payout. The names and pictures of an estimated 150 million Facebook members were used in Sponsored Stories, but only those who responded to an email from the site earlier this year will be compensated.

Facebook Inc (NASDAQ:FB)

Facebook To Pay $20m Over ‘Likes’ Advertising (Sky News HD)
A judge has approved a deal in which Facebook Inc (NASDAQ:FB) will pay $20m (£13m) for using members “likes” as endorsements for advertisers. The money is to be shared between lawyers, internet privacy rights groups and Facebook users who filed claims in the class-action lawsuit against the social media giant.

Yelp CEO Initially Didn’t Like Name “Yelp,” Sounded Like “Cry For Help” (Marketing land)
Yelp Inc (NYSE:YELP) CEO Jeremy Stoppelman was interviewed by Charlie Rose earlier this month on August 15. AllThingsD, which called our attention to the interview, focuses in on Stoppelman’s criticism of Google Inc (NASDAQ:GOOG)’s local efforts (17:35 below). However Rose asked Stoppelman about a wide range of subjects, extending beyond Yelp Inc (NYSE:YELP) to tech generally and international competition. Rose in his introduction says that “Steve Jobs called [Stoppelman] to advise him personally against the [Google acquisition] deal.” While the interview never returns to Steve Jobs and what he may or may not have told Stoppelman, the latter does publicly acknowledge (for the first time I’m aware of) that Google tried to buy the review site.

You asked for it stocks (CNBC)

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