The biggest news for this week is, of course, the IPO of Facebook. Though everything else seems to pale in comparison to that news, there are a few other notable stories for this week in social media.
1. Facebook IPO
At $42.05/share, Facebook surprised many on Friday by opening 10.5% higher than predicted. How will this impact the social networking giant? We’re excited to see how it plays out. Did you end up purchasing any stock, or are you waiting to see how things play out?
2. Facebook Mobile Gets Bigger Photos
If you’re a fan of Facebook’s mobile app, you’re going to be happy with this small but important update they pushed out recently. With the new change, photos displayed on mobile Facebook will be 3x larger than before, exhibiting a similar style to the new timeline layout we’re accustomed to on the desktop version. They seem to be taking some influence from Instagram, putting their new acquisition to work already! I can say, I’m a fan of the new photo layout as it makes the app more compelling to use and beautiful to look at.
3. Facebook Credits Grow Up
Remember Facebook credits? They were created as Facebook’s virtual currency, though, very few people seem to have adopted them into their every day Facebook use. Basically, they’ve been relegated to the realm of online gaming (Farmville, anyone?) and average users haven’t even thought of them. Interestingly though, as TechCrunch reports, these credits made up 15% of Facebook’s 2011 revenue!
With the announcement of the IPO, Facebook may look to market these credits more heavily. As a money making tool, credits are something that Facebook could promote relatively easily, increasing transactions of credits for things other than gaming across the social network. Imagine other areas in which Facebook could integrate credits. Spotify, Netflix, and other “open graph” apps could being accepting credits in exchange for subscription plans. People are predicting that post-IPO credits will become much more prominent across the site, so keep an eye out for any changes!
4. Pinterest Goes Global
In order to keep up with its astounding growth, Pinterest recently raised $120 Million. What are they going to do with this money, you ask? Well, it seems they’ve also put out a call for site translators, including French, German, Japanese, Portuguese and Spanish. Probably in an effort to combat “Pinterest Clones” around the world, the start-up is wise in securing its international expansion. After all, who wouldn’t want a part of the global market?
That’s all I’ve got, folks! Enjoy your weekend.
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