Facebook Loses Steinberg and 4 Social Media Stocks Seeing Action
Facebook, Inc. (NASDAQ:FB): According to TechCrunch, Ari Steinberg will leave Facebook, Inc. Most recently, Steinberg opened Facebook’s first remote engineering office and built Facebook Messenger for Windows. He now plans to found a travel start up.
LinkedIn Corporation (NYSE:LNKD): LinkedIn Corporation, the largest business to business social media site in the world, now exceeds 175 million members with an average of two members joining per second. Ray Knight, Chief Envisioneer Officer of The RaynMakers, is considered a LinkedIn guru and has partnered with TransMedia Group to offer his knowledge to professionals seeking clients and to businesses looking to grow.
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Groupon, Inc. (NASDAQ:GRPN): Groupon, Inc.’s senior European management has been reshuffled and the head of international business is leaving the company. Groupon has also recently acquired Breadcrumb, a point-of-sale iPad app targeted at local businesses. This could be a stepping stone for them to begin taking restaurant reservations, thus allowing them to directly compete with OpenTable.
Pandora Media, Inc. (NYSE:P): The shares of Pandora Media Inc. extended their recent pullback and hit a fresh five-month low. Against this backdrop, the option bears came out in full force, scooping up soon-to-expire puts on the Internet radio concern. By the time the dust settled, Pandora had seen around 13,000 puts change hands, roughly three times their average daily put volume. For comparison, fewer than 3,900 P calls were exchanged, or 30% below their typical single-session call activity.
Zynga, Inc. (NASDAQ:ZNGA): According to AllThings D who cited Jay Monahan, the company’s Deputy General Counsel will proceed with a lawsuit against former employee Alan Patmore. “Patmore does not dispute that he took 763 files from Zynga.”