Facebook ‘Likes’ Drive New Search Engine and 4 Social Media Stocks Seeing Action
LinkedIn Corporation (NYSE:LNKD): Current price $118.48
LinkedIn Answers has long been an effective tool for many business professionals, but the company is nixing the service to focus on other services offered by the professional networking site as well.
Groupon, Inc. (NASDAQ:GRPN): Current price $5.0601
According to a spokesperson for the company, Groupon announced a new tool for merchants which they say will help them measure the performance of their Groupon deal. It is called the Merchant Impact Report. “Merchants now have the ability to access analytics, themselves, customer insights, and a profit calculator to help them gauge the performance of their Groupon promotion. It lets local businesses work out their campaign profitability, which is something that’s not generally available through other marketing/advertising mediums.”
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Pandora Media, Inc. (NYSE:P): Current price $10.59
According to industry insiders, Sony/ATV, a joint venture between Sony (NYSE:SNE) and the Michael Jackson estate, has secured a 25% increase in royalties in a new deal with Pandora that will likely raise costs for the Internet radio company.
Facebook, Inc. (NASDAQ:FB): Current price $30.20
Much of the data utilized by Facebook, Inc.’s new search engine will be based on “likes” that are “totally irrelevant,” Business Insider quoted entrepreneur and engineer Steve Cheney as stating in his blog. The “likes” are irrelevant because about half the time, users “liked” a product because they wanted to enter a contest in order to win a prize, Cheney explained. As a result, the search engine will be “basically useless,” he argued.
Zynga, Inc. (NASDAQ:ZNGA): Current price $2.5399
Thanks to their success on social and mobile platforms, King.com’s flagship casual game, Candy Crush Saga, has become the most popular game on Facebook, beating out Zynga’s top titles FarmVille 2 and Texas HoldEm Poker.
Don’t Miss: Facebook’s Phone Is Here!