Facebook Inc (NASDAQ:FB) has announced that it is expanding its advertising tool called Lookalike Audiences. The tool will let advertisers target new users based on people that visit their websites, use their mobile apps, or connect to their Facebook Pages.
Paul Ceglia is a New York based man that claimed he had a contract that entitled him to half ownership in Facebook Inc (NASDAQ:FB). A federal judge has dismissed Ceglia’s lawsuit though. U.S. District Judge Richard J. Arcara said on Tuesday that Facebook was granted a motion to dismiss Ceglia’s lawsuit following the recommendation of another judge in the case that said there was clear evidence that the 2003 contract submitted in the claim was a “recently created fabrication.”
Yesterday, Facebook announced it was buying Oculus VR for around $2 billion. There was a bit of a backlash after the announcement was made. Minecraft creator Markus “Notch” Persson was one of the most outspoken individuals regarding the acquisition.
Facebook Inc (NASDAQ:FB) photo social network subsidiary Instagram has hit 200 million users. Over 20 billion photos have been shared thus far. This can be compared to Instagram hitting 150 million users six months ago and 100 million users over a year ago.
Facebook Inc (NASDAQ:FB) has announced a definitive agreement to acquire Oculus VR for around $2 billion. This includes $400 million in cash and 23.1 million shares of Facebook common stock, which is valued at $1.6 billion based on the average closing price of the 20 trading days prior to March 21, 2014 of $69.35 per share. The acquisition also includes a $300 million earn-out in cash and stock based on achieving certain milestones.
President Obama met with Facebook CEO Mark Zuckerberg, Google Executive Chairman Eric Schmidt, Netflix CEO Reed Hastings, Dropbox CEO Drew Houston, Palantir Technologies’ CEO Alexander Karp, Box’s CEO Aaron Levie to discuss ways to reform the National Security Agency’s (NSA) surveillance program. Yahoo! CEO Marissa Mayer and newly appointed Microsoft CEO Satya Nadella were also invited, but could not change their schedules in time to attend.
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Facebook Inc (NASDAQ:FB) is being sued over Sponsored Stories, which is service that used personal information from users in advertisements. Sponsored Stories no longer exists today. But the The Brazilian Institute of Computer Law (IBDI) is suing Facebook for $33 million. The IBDI alleges that Facebook violated user privacy.
Facebook Inc (NASDAQ:FB) has launched a new programming language called Hack. Hack is an open-source language for programmers that was used internally over the past year. It will help developers program faster and find errors at a faster pace. Hack was developed for the HHVM platform and is friendly with PHP.