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  • Facebook IPO: What happens when the dust settles?

    So it’s official. The starting figure for Facebook shares today is… US$38. It’s higher than expected (although not by much) and if many have their way it’s just the beginning. Not unsurprisingly there have been naysayers as you’d expect (perhaps more that you’d expect) but when you have a +US$100-billion IPO (the last one was Visa) mixed with additional recent large investment rounds and economic uncertainty seemingly looming around every corner, people invariably become polarised. So what happens when the bell closes today? Well for you and me, likely not a lot. The site won’t change, it’ll...

  • Why Facebook’s IPO only increases its global impact

    Ah man, anyone who thought Facebook was just a fad must be eating their words right now. Facebook’s IPO, however flat its opening may have turned out to be, is something that’s turning the world on its head. One of the biggest impacts of Facebook going public is that it is now in an elite class of its own. Not that it wasn’t already, but now it’s official. It’s not going anywhere, anytime soon, contrary to the disputes from anti-Facebookers cries of “It’s just a fad, like Myspace”. Facebook has now joined a business category that can qualify for...

  • Are memes the future of news?

    Comic-meme creation and consumption has taken internet culture by storm and seems to be only increasing in frequency and engagement. Memes come in all types but in this case ‘LOL cats’ and ‘Rage comics’ are being produced at a rate never seen before. Ben Huh wants to turn this mechanic into news delivery. In a recent interview the man behind I can haz cheezburger spoke of how he sees ‘meme-mechanics’ as the future of news content distribution. His argument centers on how subjectivity is king when it comes to content on the internet and a cultural shift is taking place,...

  • Google Knowledge Graph: Forcing businesses to amplify great content

    Google's Knowledge Graph is generating a lot of hype. For good reason too, it’s a big leap forward in the early stages of the semantic web. A semantic web has context and not just content. This means that when you search for the Taj Mahal, as an example, you get results on the Taj Mahal that you were actually looking for. So if you were looking for the iconic building, that’s what you will find. If you were looking for the band that’s what you will find, and so on. But how does Google do this? Well in short, Google...

  • Watch SA-born entrepreneur’s SpaceX vehicle blast off online

    The trope of geeks dreaming of space is a well-worn one. Thing is it’s not exactly without basis. Today one of those geeks might just see one of those dreams come true. Space X is the brainchild of South African-born PayPal founder, inventor, engineer and billionaire genius Elon Musk (If that description sounds a bit like Tony Stark, it’s probably because Robert Downey Jr based his character on Musk. A little later this morning the programme will launch its Dragon Cots 2+ Demonstration mission, which is set to be the first privately funded spacecraft to dock with the International...

  • Mark Zuckerberg opens Nasdaq trading from Facebook HQ [PICS]

    Facebook CEO and founder Mark Zuckerberg has rung the bell that signals the opening of the Nasdaq stock exchange. Shunning the suits of Wall Street, Zuckerberg instead chose to ring the bell from the social network's California headquarters. His attire? Sneakers, jeans, a grey shirt and a dark hoodie. What, like you were expecting anything else? Zuckerberg was surrounded by some of his most senior executives and a host of employees -- many of whom have been attending an all-night hackathon aimed at producing the next wave of Facebook products. It should be pointed out that Zuckerberg only opened...

  • Facebook goes live on Nasdaq

    After months of speculation, a two-week long roadshow, and hours of pent-up waiting, it's finally happened. Facebook has officially started trading on the Nasdaq stock exchange. The company's share price opened at US42, higher than the US$38 it was offering, before leveling back down to US$40. Earlier today CEO and founder Mark Zuckerberg rang the bell that opened trading, officially signalling Facebook's first day as a publicly trading company. It took a few hours, however for the company to officially begin trading stock. Facebook's IPO is one of the largest in tech history, giving it a valuation of...

  • Twitter reactions to Facebook IPO mixed

    Unless you’ve been hiding under a rock, or just woke up from a coma you probably know that Facebook debuts on the stock market today. As with any big event, the people of Twitter (which, by the way, was last seen doing everything its power to avoid going public) had to have their say. There were, of course, jokes: Facebook IPO day joke:Why is Facebook going public?Because they couldn't figure out the privacy settings either. :P— Sritika Dhar (@Sritika) May 18, 2012 IPO Day - will farmville cows increase their value or not? just saying ... :)— J Patricio Gonzalez...

  • Why ninety-nine cents is still too much for a cellphone call

    South Africa is country with an incredibly high mobile penetration, but which has always suffered from excessively high voice call rates. This week it seemed like all that was changing. The country’s third operator CellC threw the first volley, announcing that call rates on prepaid packages would drop to 99c per minute. Vodacom, the country’s first and biggest operator, responded in kind, saying that it too would reduce its rates to 99c per minute. And the masses rejoiced. My question is simple: Is this a genuine overture to provide a quality service to its clients or simply "just enough" to placate...

  • Cheat sheet: The Facebook IPO

    Chances are, anyone in your office even remotely interested in tech or business is going to be talking about Facebook's IPO today. If you're feeling a little out in the cold, don't worry. We've got your back. Here's everything you need to know about the Facebook IPO in a nutshell. The social network’s initial public offering consists of 421 233 615 shares. Shares will start trading at US$38 apiece. Predict the closing price. There are two classes of Facebook stock. Class A stock is worth one vote, and is available to the public to buy on the open market. Class B stock...

  • Facebook’s IPO will only make Mark Zuckerberg stronger

    Facebook is not interested in reforming Wall Street with its IPO, as Google tried to do with its Dutch auction process and snubbing the big investment firms. So it shouldn't be surprising that Facebook isn't interested in adopting a more open company governance structure either. In fact, Facebook has copied Google's corporate structure as closely as it could, and even improved on it. The two-tier shares where insider's shares have 10 times the voting power is common to both companies. Mark Zuckerberg figured out an additional way of keeping control that Google's founders missed: he managed to...

  • Non Facebook IPO news: Woman divorces husband over status

    While the press scrutinises every move surrounding Facebook’s IPO, it is worthwhile remembering that life goes on. Sometimes it goes on hilariously. According to the Deccan Chronicle, an Indian woman is divorcing her husband for failing to change his Facebook status from “single”. The man meanwhile says he was just too busy settling into matrimonial bliss and running his furniture repair business to change his status. The 28-year-old woman is am IT professional who says she decided to divorce her 31-year-old husband because his failure to change his relationship status means she can’t trust him. A judge has given...

  • We can’t live without the internet, it can’t live without us

    "We have a symbiotic relationship with the internet, we cannot live without it and I am pretty sure if it could think, the internet could not imagine existence without users," says Yasushi Okamura, Global client director at Oracle. Okamura, who was addressing the audience at the Korea Communications Conference, suggests that human beings have undergone a symbiosis with the internet that has enabled both parties to evolve greatly in the last 25+ years. "We have evolved and adapted the internet into our working and personal lives," he says. Okamura reckons that we have come to rely on the internet so...

  • Mark Zuckerberg greeted by standing ovation at pre-IPO hackathon [PICS]

    It’s finally here. Today is Facebook IPO day. You might think that Mark Zuckerberg would be kicking back in his hoodie and slippers. You’d be wrong. Instead, the Facebook CEO was on hand to launch the company’s 31st hackathon -- aimed at building brand new Facebook products. When Zuckerberg arrived at the marathon hacking session at Facebook HQ in Menlo Park California, he was greeted with a standing ovation. Facebook staffer Francis Luu posted these some great pictures of the event. We’ve chosen a few of our favourites, but you can check out the rest on...well, they’re hardly going...

  • Digital innovators to star at 2012 Flux Trend Review

    If you want to meaningfully participate in the world you, never mind change it, you need to know what forces are driving shaping it. Anyone who's still has doubts about how digital online technologies are changing the way we function as human beings need only look at the speaker list for this year's Flux Trends Review, set to take place on 7 June in Johannesburg. The annual event claims to cherry-pick "the best thought leaders to provide a 360-degree look at the hotspots of change, emerging trends globally and in South Africa allowing business to short-cut the process of...