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Facebook, Inc. (NASDAQ:FB): According to the United States Attorney’s Office, a New York entrepreneur who is suing Facebook, Inc.’s Chief Executive Officer Mark Zuckerberg for a 50% ownership stake in the social media giant was arrested on charges that he falsified records and destroyed evidence in a multi billion dollar scheme to defraud both Facebook and Zuckerberg. Paul Ceglia, 39, was taken into custody by U.S. Postal inspectors this morning and was to appear before a federal judge in Buffalo later today. Ceglia filed suit against Zuckerberg in 2010, claiming that he and Zuckerberg, then a student at Harvard University, signed a contract in April 2003 which promised Ceglia a 50% stake in the fledgling web venture that was to become Facebook.
LinkedIn Corporation (NYSE:LNKD): In 2012, LinkedIn Corporation had aggressively overhauled their profiles and company pages to make their platform more engaging. Visual content received a lift, with larger images and a a cover photo to help brands display their personalities more effectively. According to a report from the Content Marketing Institute and MarketingProfs, B2B companies have taken notice and made LinkedIn a greater part of their social media marketing strategies. The study found that 83% of B2B brands maintain a presence on LinkedIn, compared to 71% that did in 2011. The figure represents the highest adoption rate of any social network included in the study. Twitter occupied the top spot in each of the last two surveys. Last year, the micro blogging platform registered with 74% of respondents. Their 80% this year suggests continued growth as a B2B marketing tool. LinkedIn’s ability to attract new employees and win new customers makes them especially attractive for marketers.
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Groupon, Inc. (NASDAQ:GRPN): According to Tech in Asia, GroupNet, the company formed in the merger of Groupon China with larger daily deals rival FTuan, has recently received $40 million in funding for expansion, thought to come mainly from Groupon, Inc. and Tencent (TCEHY). The report also said that GroupNet’s Chief Executive Officer said that the company gets “many merger proposals each day.”
Zynga, Inc. (NASDAQ:ZNGA): Zynga, Inc. said that their board has approved a $200 million buyback, the amount of which could represent as much as 10% of their total outstanding shares for a stock that has declined by more than 75% from its initial public offering price in December.
Yelp, Inc. (NYSE:YELP): According to Seeking Alpha, there was once a time when Google and Yahoo were each interested in Yelp, Inc. as a potential acquisition, but Yelp previously rejected both of them as suitors. Today’s landscape is much different now that Google has Zagat, Yahoo seems to be pursuing Open Table, and Facebook appears to have decided to muscle its way into the picture. Yelp now has little hope for being acquired at current valuations. Can they survive an increasingly competitive landscape as a standalone company?
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