Zynga Shares Pop and 3 Social Media Stocks Seeing Action
Facebook, Inc. (NASDAQ:FB): If the site’s users don’t fight back, the democracy of the company could soon end. Furthermore, the company suggested that it remove the rights of its users to vote on major issues regarding the manner in which its 1 billion-member online network. The online reaction was not very welcoming. “Facebook now argues that it is too big for democracy, much like the Chinese government might,” according to Michael Phillips’ comments on the site BuzzFeed. “Call this new regime Facebook with Authoritarian Characteristics.”
LinkedIn Corporation (NYSE:LNKD): Plingm, a Swedish mobile VoIP app, has introduced free phone calls for all of LinkedIn’s 151 million users. Without needing to dial any numbers, Plingm users owning an iPhone will have the ability to call their own contacts on LinkedIn directly. LinkedIn has over 151 million global LinkedIn users. Because of an innovative back-end solution that has been constructed by Plingm, LinkedIn users are now able to call and talk to their LinkedIn contacts for free worldwide. “Mobile numbers are legacy. By using our LinkedIn calling feature, you can always reach the person you want to speak to even if they switch jobs or change their number,” said Pandelis Eliopoulos, who is the co-founder of Plingm. “With the growing use of social media, the possibility to call your LinkedIn contacts directly without a phone number is a logical evolution of mobile communication.”
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Groupon, Inc. (NASDAQ:GRPN): A hedge fund revealed its purchase of a 9.9 percent stake in the company. In a regulatory filing, Tiger Global stated that it owns 65 million shares of Groupon, who must deal with the slowing revenue growth and accounting investigations.
Zynga, Inc. (NASDAQ:ZNGA) stock saw a 5.78 percent rise, reaching $2.38. The company’s Treasurer Mike Gupta has chosen to resign and take a position at Twitter Inc. as Zynga continuse to fight to keep its top managers amid slowing growth. Gupta,who is a former Yahoo! Inc. executive, joined Zynga in 2011 and is now Twitter’s vice president of corporate finance and treasurer.