Tech Biz Review: Facebook RUMOR Unfounded, AOL Shares FALL
Samsung (OTC:SSNLF) says that chatter over its plans to provide a Facebook-like (NASDAQ:FB) social networking service is unfounded, although the firm claims to be developing an upgrade to its Family Story service, which lets Samsung device owners share photos and schedule events.
Don’t Miss: Are the Glory Days Over for Zynga?
Shares of AOL (NYSE:AOL) fall and keep falling, subsequent to its blocking the attempt of Starboard Value to attain five seats on the board. Investors has hoped that the latter could win the seats and thus force AOL to cut its online media unit’s losses, which have been the focus of activists, but rather than new board members shareholders attending the company’s annual meeting were disappointed by a presentation of AOL’s money-losing Patch local news division.
Google+ (NASDAQ:GOOG) attracted game developers last summer and hopes were high that it could rival Facebook, but many of them are now deserting it, in the face of its low usage numbers. Wooga, which develops games such as Monster World for FB, is in the process of pulling its games from Google+, and Electronic Arts’ (NASDAQ:EA) Bejeweled Blitz will be withdrawn on Monday. To make matter worse, businesses are also leaving, and it’s possible that ultimately Google+’s value will depend on its +1 button.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.