3 Buzzing Social Media Stocks: Facebook Loses Sales Executive, LinkedIn Expands in Brazil, and Pandora’s Challenge in Asia
Facebook (NASDAQ:FB): Closing price $26.32
Tom Arrix, Facebook’s longtime head of North American sales, is departing the company, making another high-profile executive departure for the company. Facebook ad chief Carolyn Everson will fill in for Arrix until the company can find a permanent replacement. Arrix had joined Facebook in 2006, and is largely credited with the $1 billion-plus in ad revenue that the company pulls down every quarter.
LinkedIn (NYSE:LNKD): Closing price $193.65
LinkedIn has turned its attention to Brazil in order to expand its physical presence and client base in the country that makes up its third-largest market 13 million users. LinkedIn currently employs 50 staff in the country and is looking to expand its staff for the Marketing Solutions team and the talent solutions roles, which demand sales expertise as well as knowledge of the human resources market.
Pandora Media (NYSE:P): Closing price $18.73
While Pandora is putting out PR fires stateside, Spotify is using the opportunity to expand its reach into key Asian markets, as the companies race to grab as much market share as possible on the global stage. Spotify is applying for licensing permits in undisclosed Asian countries, potentially hindering Pandora’s shot for first mover advantage.
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