Facebook Acts Swiftly to Fix Loophole and 4 Spotlight Social Media Stocks
Facebook, Inc. (NASDAQ:FB) moved quickly to shut down a loophole making some able to be accessed without a password. This bug was revealed in a message that was posted to the Hacker News website. The message contained a search string that, that when used on Google, returned a list of links to 1.32 million Facebook accounts, and some of these links logged in to the account without the necessary password. All the links revealed email addresses of Facebook users.
Groupon, Inc. (NASDAQ:GRPN) wasn’t doing well even before Sandy reared her ugly head. The company’s stock was the worst-performing U.S. stock with a market capitalization over $1 billion during 2012, but now, it appears as if things have deteriorated. Groupon shares saw a drop of nearly 4 percent on Friday morning to $3.87, which is the lowest level in their history. The stock has fallen 12 percent during this short trading week, and plummeted over 80 percent since Groupon’s initial public offering a year ago gave the company a $13 billion value. On Friday, Groupon’s market valuation slumped $2.58 billion. Considering Groupon’s $1.2 billion in cash, its value has dropped to $1.38 billion, making Groupon arguably the worst of the three large Internet IPO busts of this era. This would also include Zynga and Facebook, which has seen more market value wiped out but continues to be a much stronger company.
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Pandora Media, Inc. (NYSE:P) mobile apps were already good, but this week they were improved. In a company blog post, Pandora stated that it had released “the “biggest update we’ve made to our mobile apps since we first launched.”
Zynga, Inc. (NASDAQ:ZNGA) has entered into a partnership intended to bring world-renowned chef and founder of the Food Revolution, Jamie Oliver, to ChefVille. As of today, Oliver will place his passion for sustainable, unprocessed, and fresh cuisine into ChefVille, which takes players on various quests that are focused on growing produce and simple cooking. ChefVille’s millions of players will have the ability to make smart choices as they work the stoves in their restaurants. Furthermore, players will be able to contribute to Jamie Oliver’s Food Revolution, which is a global movement allowing people who love food to share information, talents and resources, via the work of Jamie’s global charities.
Yelp, Inc. (NYSE:YELP) narrowed its net loss to $2 million for Q3 after it brought in a net revenue totaling $36.4 million in net revenue. That is an increase of 63 percent from the same quarter during the previous year. The company stated that total reviews saw a 49 percent increase to 33 million, as the amount of local business accounts saw an 82 percent increase to 35,500. Yelp changed its guidance for the year, as it projected a net revenue totaling $40 million to $40.5 million, with adjusted EBITDA totaling $1.25 million to $1.5 million. Although Yelp’s Q4 revenue forecast came in slightly lower than analysts’ average estimate of $40.8 million, Yelp’s shares saw a slight rise in after-hours trading to $24.45 a share. When placed against many of the other consumer web companies that went public in the last year like Zynga (NASDAQ:ZNGA), Groupon (NASDAQ:GRPN), and Facebook (NASDAQ:FB), Yelp continues to be steady at a market capitalization of nearly $1.5 billion since its IPO earlier this year.
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