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Tag Archive: Mark Zuckerberg

Former Facebook Exec to Take Over as MySpace CEO

Former Facebook Exec to Take Over as MySpace CEO

Social networking giant MySpace has tapped former FaceBook COO and chief revenue officer Owen Van Natta to take over the CEO position from founder Chris DeWolfe, whose departure was announced just last week.

Van Natta spent three years as FaceBook’s COO and then chief revenue officer, where he helped broker Microsoft’s $240 million investment in Facebook; before that, he worked as a deal-maker at Amazon.com. Van Natta left FaceBook in early 2008 after butting heads with Facebook CEo Mark Zuckerberg, and took the top job at California online music outfit Playlist.com. Van Natta takes over the MySpace top chair effective immediately.

Facebook Settled Origin Suit For $65m

Facebook Settled Origin Suit For $65m

$65 million sounds like a lot of money. Okay, it is a lot of money. But compared to the $15 billion valuation put on social networking site Facebook, it’s peanuts. Yet it’s the amount Mark Zuckerberg agreed to pay former Harvard classmates, Cameron and Tyler Winklevoss, to settle the suit they brought against him, claiming he stole the idea for Facebook from their site, HarvardConnect, which became Connect U.

The amount had never been officially disclosed, but was revealed in a newsletter from California legal firm Quinn Emmanuel Urquhart Oliver & Hedges, which acted for the Winklevoss brothers. It was spotted by The Recorder.

Netscape Founder Joins Facebook Board

Netscape Founder Joins Facebook Board

Remember Netscape? At one time it looked as if it would eclipse Microsoft’s Internet Explorer as a browser. Those days are just a hazy memory now, but the man who dreamed them, Marc Andreessen, is still very much alive and kicking – and the newest member of Facebook’s four-member board.

It will be a change for Andreessen, who has plenty of experience with startups – after Netscape he was involved with Opsware and Ning.

Mark Zuckerberg, Facebook founder and chief executive, said:

Facebook Lets Users Opt-Out of Beacon

Facebook Lets Users Opt-Out of Beacon

Social networking site Facebook is continuing it’s about-face and apologies about its controversial Beacon system, a key component of the company’s advertising platform. As originally envisioned, Beacon was intended to let Facebook users easily capture and share information that wasn’t necessarily on Facebook—like what they do (and purchase) at other Web sites and services. Of course, this information is also of great interest to advertisers.

Judge Delays Facebook Hearing

Judge Delays Facebook HearingThe hearing regarding the alleged theft of the code at the heart of the Facebook social network has been delayed until August 8. It was originally scheduled totake place this week.   Judge Douglas Woodcock has given the extension so the accusers, three men who were at Harvard with Facebook founder Mark Zuckerberg. They allege he agreed to work withthem to create the code for their social network site, ConnectU, in 2002, but later took it to begin Facebook.   The ConnectU team originally filed suit in2004, but it was dismissed earlier this year on a technicality, after which they immediately re-filed. The suit accuses Zuckerberg of  fraud and misappropriation of trade secrets, and asks forConnectU to be given ownership of Facebook. Judge Woodcock has instructed the lawyer for ConnectU to file a fresh plea that gives more facts to support their claims.   "Dorm room chit-chatdoes not make a contract," he said.

Facebook Founder Accused Of Code Theft

Facebook Founder Accused Of  Code TheftFor the second time in three years, Facebook founder Mark Zuckerberg is in court, facing charges that he stole the code that’s the basis for his massivelysuccessful social network site.   The court date this week in Boston has been brought by brothers Cameron and Tyler Winklevoss and Divya Narenda, who claim that Zuckerberg, whom they asked tohelp them create a college social networking site in 2002, when they were all students at Harvard, stole the code he’d created for them, along with the business plan and design.  Zuckerberg went on to create Facebook, for which he turned down a $1 billion offer from Yahoo, while the site created by the other, called ConnectU,hasn’t fare as well, with just 70,000 users, compared to Facebook’s 31 million.   The trio first brought suit against Zuckerberg in 2004, but that was thrown out because of atechnical error. The charges this time remain essentially the same, with the three saying Zuckerberg was a full but unpaid member of their team whom they accuse of copyright infringement, thestealing of trade secrets, breach of contract and fraud.   They’re asking for Facebook to be shut down, along with a transfer to them of Zuckerberg’s assets, and additional money to bepaid as damages.   Realistically, Facebook is unlikely to be closed by any judge. If found guilty, Zuckerberg will likely have to pay a monetary penalty instead. However, he’s claimed thathe’s innocent; in an article he said, “there is really good documentation of this: our code base versus theirs.”

Facebook Acquires Web Start-Up ParaKey

Facebook has often been seen as a ripe target for corporate buyout from a larger company, but after resisting the urge to sell over and over again, the site’s owner, Mark Zuckerberg, has finally landed in the buyer’s seat. The social-networking site announced Thursday [PDF] that it has acquired Parakey, a company that aims to make simple computing tasks easier through their software, for an undisclosed amount.

Parakey was founded by Firefox co-developers Blake Ross and Joe Hewitt, both in their 20’s. The company launched in 2006, but has yet to actually reveal any products. Of the little information about the company that is available, one of their projects involved a sort of web-based platform for e-mail, photos, videos, recipes, calendars, and more.

Facebook Opens its Pages To More Users

You may have heard of online social networking site Facebook, but unless you had an email address ending in .mil,.edu,.com,.org, or .gov, you would have had trouble getting on board. Plus, Facebook pretty much catered only to students and campuses—but it’s still managed to sign up about 9.5 million users and assemble some 500 regional networks of users based on campus and work affiliations.

However, now that Facebook’s wider plans look to be bearing fruition—Yahoo is reportedly wining and dining the company for a $1 acquisition—Facebook has thrown open its pages to anyone with a valid email address.

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