Facebook Changes Its IPO Roadshow After Zuckerberg's Session In New York
Facebook is sensitive to the fact its first IPO roadshow event in New York didn't go as well as hoped, and has changed it significantly for today's pitch in Boston. The breakfast meeting with shareholders didn't involve the 30 minute video those attending in New York saw, leaving much more time for questions and discussions from attendees to Facebook's management--one of the criticisms leveled at Facebook after yesterday's pitch. Mark Zuckerberg was conspicuous in his absence, and Reuters reports no reason was given, but COO Sheryl Sandberg faced questions that included the company's strategy in China.
Facebook is sensitive to the fact its first IPO roadshow event in New York didn't go as well as hoped, and has changed it significantly for today's pitch in Boston. The breakfast meeting with shareholders didn't involve the 30 minute video those attending in New York saw, leaving much more time for questions and discussions from attendees to Facebook's management--one of the criticisms leveled at Facebook after yesterday's pitch. Mark Zuckerberg was conspicuous in his absence, and Reuters reports no reason was given, but COO Sheryl Sandberg faced questions that included the company's strategy in China.
GigFunder Crowdsources Artist's Tour Funding To Fans Anywhere
A new site called GigFunder is positioning itself to be a boon to star-struck fans who want a visit from their favorite band, and cash-strapped artists who are looking for funding for their next tour. The website helps bands and fans crowdsource digital donations from across the country. It's not just bands--comedians, magicians, DJs and more can register to get funding campaigns started. Campaigns last a maximum of 30 days, and if the visit isn't fully funded the backers aren't charged. Also, it's a two-way street. An artist can make an announcement to fans, and fans can connect with artists to invite them to a gig. If a campaign is successful, fans can be rewarded with merchandize from the band or artist.
RIM to shake up executive management team with new COO, CMO.
Embattled BlackBerry maker Research In Motion, has just revealed it's overhauling its executive team once again, with a new Chief Operating Officer and Chief Marketing Officer. Kristian Tear is the new COO, and seems himself to be fallout from the recent Sony and Ericsson machinations, being formerly EVP at Sony Mobile Comms and having before that held a "variety of operational leadership positions" in Ericsson. Frank Boulben, the new CMO, is formerly EVP of Strategy, Marketing and Sales for LightSquared (itself embroiled in some complex business issues right now) and before that working for Vodafone and Orange. The moves come after RIM's co-founders finally departed the company as its marketshare is gobbled by Apple and Android, and RIM is accused of a bizarre anti-Apple PR campaign in Australia that has badly backfired.
Social Video App Viddy Gains 26 Million Users
Via TheNextWeb: Video recording app Viddy has hit 26 million users since it launched one year ago, and adding users at about 1 million per day. Viddy counts Biz Stone, Shakira, Jay-Z as backers, and even Mark Zuckerberg is a recent convert. With those numbers, Viddy's edging closer to another social video startup SocialCam, which has tacked on 36 million users in the 14 months it's been around--although Viddy's grwoth rate is higher, reminding us of Instagram's swift growth pre-purchase.The hot question thus seems to be: Which of the two will be the Instagram of video?
Zuckerberg Defends His Billion-Dollar purchase of Instagram.
Late yesterday Facebook CEO Mark Zuckerberg faced questions from potential investors in the first part of his pre-IPO whirlwind roadshow. At the New York meeting, Zuckerberg dealt with a lot of questions about his impulsive purchase of Instagram. The deal involved a huge billion-dollar payout for a company that was less than 500 days old and was carried out without board involvement--facts that unsettle investors who are looking for stable, responsible corporate governance. Zuckberg explained that Instagram had grown past a tipping point (which we can assume was the million-users-in-a-day growth after the Android app hit) and was being pursued by other parties like Twitter, necessitating fast negotiations. The young CEO also explained his position on entering China--a willingness to talk with Chinese officials, as the site is currently blocked.
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