3 Buzzing Social Media Stocks: Pandora Bounces Back, Facebook in Iran, LinkedIn Opens Samza
Pandora Media (NYSE:P): Pandora shares are bouncing back from an after-hours dip Monday night following the online streaming service’s announcement that it would be issuing 10 million new shares and selling 4 million on behalf of venture capital firm Crosslink Capital. Crosslink will still own 25 million shares after the offering is completed, and underwriters will have a 2.1 million share over-allotment option. Pandora intends to use the cash generated for ”general corporate purposes, including working capital and capital expenditures,” along with potential acquisitions.
Facebook (NASDAQ:FB): Facebook is available for the first time in Iran since 2009, when the social media site was blocked during protests against the government. Other sites were also reported as being unblocked, including Twitter, which was banned for similar reasons. The Iranian government had no official comment on the matter.
LinkedIn (NYSE:LNKD): LinkedIn has open sourced its Samza technology, which, built upon its Kafka messaging system, is used to process data in real time. The service is analogous to Twitter’s Storm, and it will allow greater integration among programmers and users of the services. The release is just the latest innovation by the professional networking giant, which continues to establish itself with original developments.