Yelp Tattles on Google and 4 Social Media Stocks Seeing Action
LinkedIn Corporation (NYSE:LNKD): Linkedin Corporation’s Endorsements feature has not been well received by users and many are going to the professional network’s website to complain that it is devaluing profiles. According to Linkedin, the addition is intended to make it easier to recognize people for their skills and expertise. Linkedin users can either endorse their contacts from a new Skills & Expertise section, or select and suggest skills at the top of their profile.
Groupon, Inc. (NASDAQ:GRPN): Groupon, Inc. is predominantly a daily deals site with United States and international deals making up nearly 85% of their value. The business of daily deals is one with low entry barriers and where competitors, who offer better terms to retailers, are able to take away market shares from larger players like Groupon. For now, Groupon has strong networking effects that are acting in its favor due to the large number of registered users, but this may not, in the long run, be a very big deterrent. To diversify their business, Groupon has rolled out a number of promising tools and services targeted at local businesses. Some of these services are Groupon Now! (a hyper-local location based mobile service), Groupon Scheduler and Groupon Rewards. The company expects to eventually roll out a complete portfolio of marketing and other services for small businesses.
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Pandora Media, Inc. (NYSE:P): What is Pandora Media, Inc.’s founder, Tim Westergren’s go-to channel on the music streaming service? Piano-infused indie composer Ben Folds. “I’m a trained jazz pianist and love piano-oriented music,” said Westergren.
Zynga, Inc. (NASDAQ:ZNGA): Zynga, Inc.’s lawsuit with PyramidVille developer Kobojo has been settled. The terms of the settlement are confidential. According to Gamasutra, “Neither party made any payment as part of the settlement.”
Yelp, Inc. (NYSE:YELP): Yelp, Inc. has yet to report a profit as a public company. They have managed to survive the end of their lock-up period, but are presently engaged in an embarrassing campaign against their own reviewers, who are increasingly subjected to political interference. A lawsuit claiming that Yelp was strong-arming merchants to become advertisers was dismissed, but the company’s image was harmed. The real problem is that their moat is shrinking. Google Plus social network and Google Places are pushing Yelp reviews down in the search rankings. Google’s purchase of Zagat is not helping either. The firm realizes this and they are speaking to the Federal Trade Commission concerning their larger rival, Google.
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