Early Facebook investor sells shares for $396m

Peter Thiel, one of Facebook’s earliest investors has sold most of his stake in the social network, making a substantial profit. Thiel, a venture capitalist and Paypal co-founder, cashed in 20.1 million shares, raising $395.8m (£251m) last week, official filings...

Facebook puts app ads into mobile news feeds

Facebook has launched a new mobile ad format promoting apps, as the social network makes further attempts to bolster its smartphone and tablet revenues. The new format will let app developers advertise their products on its members’ mobile-device news feeds. The...

Facebook commerce ‘worth £3.1bn’ in next 3 years

Selling through Facebook (f-commerce) is set to be worth £3.1 billion for UK businesses over the next 3 years, according to new research. The research, carried out by TNS on behalf of Ecwid, polled 2000 consumers in the UK. It indicates that 25% of people would prefer...

Zuckerberg dampens Facebook smartphone rumours

Facebook CEO Mark Zuckerberg said his company does not plan to create a Facebook-branded smartphone during a conference call with financial analysts and reporters this week. Building a phone, he said, “wouldn’t really make much sense for us to do.”...

GM marketing chief that quit Facebook resigns

General Motors is ousting its Global Chief Marketing Officer Joel Ewanick, according to a news report. The Wall Street Journal cited ‘unnamed people familiar with the situation’ as saying that Ewanick has taken heat from executives and company outsiders recently...

Facebook: 955m active users but shares still fall

Facebook has announced Q2 revenues of $1.18bn (£750m), a 32% year-on-year increase from $895m (£570m) a year ago. Despite this, payments to staff share schemes following its IPO meant that the firm posted a total loss of $157m (£100m). If taken into account, adjusted...