Tech Business Roundup: Facebook’s Growing IPO, PayPals New Pals
Rumors that Apple’s (NASDAQ:AAPL) next iPhone will feature displays of at least four inches, seem to be given credibility following a Wall Street Journal report that the company has ordered displays that match that size criterion. Most of Apple’s competitors now provide high-end phones that contain displays larger that 4 inches, so chatter had it that the company would rise to the challenge. However, Samsung’s (SSNLF.PK) recently-announced Galaxy S III will boast a 4.8 inch display.
The enlargement of Facebook’s (NASDAQ:FB) initial public offering and the boosting of its share price range, is inducing institutional investors to cash out, as VC backer Accel Partners will sell as much as 28 percent of its investment, while Peter Thiel, Goldman Sachs, and Tiger Global each intend to sell up to 50 percent. Moreover, the insider sell-off dwarfs that seen at the time of LinkedIn, Groupon, and Zynga’s IPOs, and could be a red flag for buyers who are thinking of chasing the shares after trading begins in earnest. Meanwhile, Facebook is boosting the available number of shares at the end of its lockup period of 91 days, by 96 million to 268 million.
PayPal (NASDAQ:EBAY) intends to announce additional retail partners for its payment solutions next week. The company already has agreements with Home Depot (NYSE:HD) and Office Depot (NYSE:ODP), involving a method that enables customers to pay by either swiping a PayPal card, or typing in their phone number and a PIN. Also, PayPal is experimenting with NFC, and app-based mobile payment platforms, along with Square competitor, PayPal Here.
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