Facebook Will Support Mobile Payments and 4 Social Media Stocks Buzzing Monday
Facebook, Inc. (NASDAQ:FB) will now support mobile payments via carriers since it has begun a partnership with Bango. Today, the mobile payments company announced that it entered into the partnership with Facebook, claiming that those using the social network’s mobile app now will have the ability to purchase digital goods via carrier billing. There will be a request for users to confirm a purchase, and then the charge will be on their carrier bills, stated Bango. Currently, the company’s payment service is available only in the U.S., U.K., and Germany. The company has promised that it will be available elsewhere in the coming months.
LinkedIn Corporation (NYSE:LNKD) introduced a new feature named “Endorsements” allowing users to endorse members of their professional networks. Basically, the Endorsements feature is another way to offer a reference on a LinkedIn profile giving more credibility to the skills and expertise that are listed on a profile compared to what might is included in a paper resume.
Groupon, Inc. (NASDAQ:GRPN): Although he has only been in the position for a few months, senior vice president of global sales and operations, Kal Raman, who is Groupon’s new operations czar, has decided to speed up its attempt to automate mundane tasks and eliminate jobs at a four-year-old company which has relied on people more than technology, until now. These reassurances are futile since large job cuts would rattle morale at a company that has already been disturbed by its issues that have dropped its total stock market value to $3.45 billion, which is down from its $12.8 billion IPO in November and lower than Google Inc.’s reported buyout offer of $5.75 billion two years ago.
Pandora Media, Inc. (NYSE:P): The Internet Radio Fairness Act was introduced in congress, and it would transfer “noninteractive online radio services” such as Pandora and iHeartRadio from the royalty model they follow now to one resulting in reduced rates such as those paid by satellite radio providers like Sirius XM (NASDAQ:SIRI), the New York Times reports.
Zynga, Inc. (NASDAQ:ZNGA): Tech companies like Google, Facebook and Zynga have begun to buy small startups that have revolutionary products and apps. However, the tech usually are not concerned about the products that the small companies produced. They are grabbing for the engineers, and these deals are often referred to as an “acqui-hire.”
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