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Tuesday, January 11, 2011

Rumours about closure of Facebook spreads across Social Network

Rumours about closure of Facebook spreads across Social NetworkSophos has warned that more than one million Facebook users are believed to have fallen for a hoax claiming that the popular website will close its doors on March 15. A bogus news story, published by the "Weekly World News" said that Mark Zuckerberg had told that "managing Facebook has ruined my life. I need to put an end to all the madness." In a panic, Facebook users have spread the story far and wide across the Internet. Although Facebook debunked the hoax via its Twitter account late on Sunday, users continue to pass the bogus messages onto their online friends.

The "Weekly World News" article went on to quote another company official, Avrat Humarthi, Vice-President of Technical Affairs at Facebook, as saying, "After March 15, the whole website shuts down. So if you ever want to see your pictures again, I recommend you take them off the Internet. You won't be able to get them back once Facebook goes out of business."
I certainly wouldn't disagree that users would be wise to have their own backup of their photographs, rather than rely on Facebook, but it is nothing more than a scare to suggest to people that they have to do it before March15 because Facebook is going to close down," explained Graham Cluley, Senior Technology Consultant at Sophos. "There is an important lesson here: “Don't believe everything you read on the Internet, and think twice before you pass a story on to your friends."

Although a hoax is not as serious as malware worming its way between users and stealing information, it is still a nuisance, clogging up communications, increasing the overall level of spam and perhaps leading people to make decisions for the wrong reasons.

Tuesday, January 4, 2011

Facebook a $ 50 billion business now!

Digital Sky Technologies co-Founder Yuri Milner recruited analysts from Goldman Sachs Group Inc. and Morgan Stanley to help him pick investments in startups such as Facebook Inc. and Zynga Game Network Inc.

Digital Sky paired with the New York-based securities firm to buy a $500 million stake that values Facebook at $50 billion, sources said. Groupon Inc., another Digital Sky-backed company, plans to take as much as $950 million in funding from a group that includes Digital Sky and Morgan Stanley, also based in New York."DST's investments in Facebook, Groupon and Zynga have done very well and I think Goldman and others are trying to take advantage of that," said Nick Beim, general partner at Matrix Partners, a venture capital firm based in New York.Digital Sky invested $200 million in Facebook in May 2009 at a valuation of $10 billion.

It has since increased its stake by purchasing common shares, including employee shares in a $100 million offer, according to two people familiar with the matter.At $50 billion, Facebook would exceed the valuation of Web portal Yahoo! Inc. and online commerce site EBay Inc. The valuation is 25 times Facebook's 2010 revenue, compared with 7 times sales for Google and 4.7 times for Netflix Inc.