Right after its $ billion IPO launch, Facebook has acquired Karma,An App for gifting friends and family.
Facebook made its first post-IPO acquisition,Karma ,which makes Apps for gifting friends and family.The financial details about the acquisition are not yet disclosed by the Facebook officials,but looking at the last month’s acquisition of Instagram its pretty sure that there will be a handsome amount of money riding over this deal.
Using Karma App,people can send gifts to their Facebook friends and family by using the Facebook wall post.A person doesn’t even have to fill the physical address of the recipient’s ,It will be filled up by karma.
It provides recommendations about the choice of the gift based upon the recipients age,location,Likes and habits.
However the service will remain functional and keep running.
The main reason behind the Karma acquisition is the Facebook’s desperation towards moving into the Mobile domain,through which it has over 500 million users,and growing.
Before and after the launch of the much anticipated IPO ,everyone had the opinion that this is going to be a non-profitable scenario for Facebook,but with this acquisition Facebook have ensured that it is definitely going to be in the market for a long run.
Firstly,Facebook desperately wanted to monetize its Mobile Platform,the area where Facebook itself confessed that, it was weak.Which was quite clear with its last months purchase of Instagram.
Secondly,With this deal Facebook will join hands with two extremely talented and experienced managers, Karma’s Chief Executive Lee Linden and its co-founder Ben Lewis,Who previously worked on Tapjoy, which provided monetization and distribution services for video games.Linden and Lewis can help Facebook a lot with there tactics on Mobile Platform.
Now Facebook can really look forward to convert its losses in the last Quarter into Profit with this merger.
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Tomorrow is going to be a benchmark day in the world of Web when Facebook will release it’s Initial Public Offering (IPO) which is priced at $104 billion.People are going mad over this event.Facebook and its early shareholders will raise over $16 Billion in tomorrows IPO.This is going to be the biggest IPO in the Internet history since Google auctioned IPO in 2004.Also Facebook will have the third largest IPO in U.S history.
But still people are little afraid of buying the shares,Since Facebook faced losses in Its First Quarter due to the less revenue generation from the Ad’s.Every one is arguing that this could lead to the end of the Facebook if they don’t plan on how to generate money from its Ads.But there is a large problem with that, If they start showing large Ads ,then it may loose its biggest USP,it’s coolness because Ads aren’t cool.
But what people don’t understand that the problems like this are temporary.Facebook has reached at this mark of $100 billion not with the support of the Ads but with the help of it’s large user base and its easy to use Interface.Honestly its just a matter of time.
People argue that there are no place for Ads on Mobile for Facebook or Google.Yes, with small screens it is a problem,but with the size of the mobile screens increasing day by day,starting with the launch of Samsung Galaxy SIII Smartphones I don’t think it’s really gonna be a problem for Facebook.If reports are to be believed, Mark Zuckerberg is trying real hard to make it worlds first $ Trillion company.And many believes that “It’s not probable,but it’s possible.
Wow! what a news? According to Variety ,The man who wrote the screenplay for The Social Network, Aron Sorkin is now going to write screenplay for a screen adaptation of Walter Isaacson’s bestselling biography on Steve Jobs,titled “Steve Jobs” produced by Sony pictures.
Amy Pascal, co-chairman of Sony Pictures Entertainment, said in a statement.
“There is no writer working in Hollywood today who is more capable of capturing such an extraordinary life for the screen than Aaron Sorkin; in his hands, we’re confident that the film will be everything that Jobs himself was: captivating, entertaining, and polarizing.”
Sorkin Won a best adapted screenplay Oscar for Social Network in 2011 and also was nominated for a Oscar in the best writing category for Moneyball in 2012.
We can also see Aron as the head of a Venture Capital firm in one of the scenes of The Social Network.
With The Social Network, Aron created a screenplay which was so fast and engaging that you will be left wanting for more.For a film which many thought is going to be just another Facebook success story,the movie became one of the best reviewed movies of 2010.
Now,since the screenplay is in the pipeline,speculations on who will play Steve Jobs are rising.My personal favorite is Daniel Day Lewis since he is the one with the ability to insert himself into the character.Who’s your favorite?
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There is a buzz going around that Apple is in the process of launching iPad Mini coming october, a 7-inch tablet along with the launch of iPhone 5. According to the rumors, this new launch will be priced between $200 to $250 with a 8GB storage carrying the same resolution as iPad, almost touching the price of Apple’s iPod Touch.But there is no need to worry as iPod touch will remain in the product line.
With the iPad mini launch, Amazon is expected to face direct competition for its Kindle Fire. The rumor also indicates that Apple is doing this in order to remain in the competition under the “mini” category and give stiff competition to Samsung, Rim and Amazon who are already rivals in the 7-inch Tablet market.
While Steve Jobs never liked the idea of making iPad’s smaller, Apple is showing the signs of entering into the post steve era and we are hoping to see something unconventional which would beat the ever changing tablet market.
Last month Facebook acquired Instagram for a whopping $1 billion and the deal was discussed in every circle. For those who know little about Instagram, its a free photo sharing application that allows users to take photos. You can apply filters to beautify photographs, connect and share on various social networking platforms which includes Facebook, twitter, flickr and tumblr. Additionally as a tribute to kodak’s instamatic and polaroid cameras, Instagram also fences in photos to a square shape.
Initially Instagram was supported by iPhone, iPad and iPod Touch but down the line it started supporting Android camera phones too. When Facebook announced the deal, Tech Analysts started discussing why Facebook would pay such a massive amount for a Photography application. The Previous biggest deal for an app was by Zynga at $200 million of OMGPop but now it appears too small.
Does it mean Facebook wants to amplify its photo sharing feature, which happens to be a vital reason behind the success of Facebook, Or this is an indication of a futuristic move by Facebook to enter into the mobile market, which is still not successfully explored. With the first IPO valued at $96 billion, the giant still experienced a loss in its 4th quarter, and overall struggling to make money from Advertising. So, a billion dollar deal which ensures entry into the mobile market is not a bad move for Facebook.
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