3 Buzzing Social Media Stocks: Groupon Makes Friends, Zynga’s Overdue Reshuffle, and Facebook Aims for the Red Carpet
Groupon (NASDAQ:GRPN): Groupon has arranged to have its Breadcrumb mobile payment-processing services supported by the point-of-sale terminals from market leaders VeriFone and Ingencio as the companies work together to compete against Square, which is processing over $10 billion per year in transactions mostly from small businesses. Groupon still expects “most merchants will eventually migrate their payments to tablet and mobile POS systems,” though it considers its new offerings a useful interim solution for those sticking with “familiar hardware.”
Zynga (NASDAQ:ZNGA): Freshly-minted CEO Don Mattrick has outlined his company reorganization strategy and as was expected, COO David Ko, CTO Cadir Lee, and HR chief Colleen McCreary are leaving. Mattrick will also be dividing the company into three divisions, consisting of Functional, Studios,and Tech; Live Ops; and Publishing.
Facebook (NASDAQ:FB): Facebook is reportedly testing an app designed specifically for celebrities, aimed at making famous, high profile members of society more human and less brand-like; it will also help them more easily connect with their fans. However, little more than that is known currently. “We are testing these features with a small group of partners and [Facebook] will share more details should we roll it out more widely,” said the company’s spokesperson.