Facebook makes mobile move after IPO flop

Facebook released a "camera" application Thursday that lets people take Instagram-style pictures that can be shared with iPhones.

The stand-alone application synchs to the leading social network, letting friends consult one another's photos.

The new mobile app "makes using Facebook photos faster and easier," according to product manager Dirk Stoop.

"You'll see a feed of great photos from the people you care about," Stoop said in a Facebook post. "You can swipe to see more of any album or tap to enlarge an individual photo."

The mini-program also let people share many pictures simultaneously instead of having to post them one at a time to the social network, according to Stoop.

Facebook Camera was due to be available at Apple's online App Store late Thursday.

The Menlo Park, California-based social network made a billion-dollar deal in April to buy the startup behind wildly popular smartphone photo sharing application Instagram.

The big ticket purchase was seen by some as a move by Facebook to strengthen defenses against Google and blazingly hot newcomer Pinterest.

"For years, we've focused on building the best experience for sharing photos with your friends and family," Facebook co-founder Mark Zuckerberg said in announcing the deal.

"Now, we'll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests."

An Instagram application tuned to Apple's iPhones, iPads and iPod Touch devices has been downloaded more than 30 million times since the first version was released in late 2010 by the San Francisco startup.

A version of the application tailored for smartphones powered by Google-backed Android software racked up more than a million users in the 24 hours after its recent release.

Word of Facebook Camera came in the aftermath of an initial public offering of stock that made insiders and investors rich but left small buyers of shares feeling abused.

Lack of a clear strategy for making money from users who connect to the social network using smartphones or tablet computers was considered to be among the reasons Facebook stock sank below its opening price of $38 per share.

Facebook stock reversed its losing trend on Thursday, inching up to $33.03 a share from $31.99 a day earlier after the close of trading on the Nasdaq exchange.

More than a half-dozen law firms specializing in investor complaints said this week that they were launching class action suits against the social networking giant and its underwriters.

The suits alleged that Facebook, along with Morgan Stanley, Goldman Sachs and other big Wall Street banks that distributed the shares withheld from smaller investors crucial forecasts that pointed to weaker growth for Facebook, while sharing the information with big institutional clients.

A separate lawsuit against the Nasdaq exchange said its massive technical problems on the first day of Facebook trade on Friday also resulted in losses to investors.

All told, the claims could come to billions: more than $15 billion have been wiped from the company's value since the initial public offering gave it a market capitalization of $104 billion.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Philips Gold finally shines

    Philips Gold made 11 service aces on its way to beating Mane ‘N Tail, 25-19, 27-25, 25-16, for its first victory in the Philippine Super Liga (PSL) All-Filipino Coinference Monday night at The Arena in San Juan.Former College of St. Benilde standout Rossan Fajardo had six aces as part of her 10-point output as the Lady Slammers finally barged into the win column after losing their first two matches.Ex-National University star Myla Pablo led Philips Gold with 14 points highlighted by 12 kills, …

  • Turkish Airlines starts direct Manila-Istanbul flights 3 times a week

    Turkish Airlines, Turkey’s flag carrier, launched on March 30 its thrice weekly direct, non-stop flights between Istanbul and Manila at the Ninoy Aquino International Airport (NAIA) Terminal 1 and plans to operate a daily service between the two cities, eventually, announced Chief Marketing Officer Ahmet Olmustur. Last November 2014, the Philippines and Turkey signed an expanded air services agreement granting Turkish carriers three frequencies per week to Manila and Clark. In accordance with …

  • Azkals bow to Bahrain

    The Philippine Azkals fell short in their bid to salvage a draw and fell 2-1 to Bahrain Monday night in an international friendly match at the Bahrain National Stadium in Manama. Faouzi Mubarak struck the opening goal for the home side in the 29th minute before Abdulla Yaser doubled the lead two minutes later with a booming shot from 25 yards out. Fil-German midfielder Manny Ott gave the Azkals a ray of hope when he scored from just outside the box in the 61st. National team Coach Thomas …

  • Alcalas dominate rivals

    In a brilliant show of power and speed, Mark Alcala downed fierce rival and Philippine team member Ross Leonard Pedroza, 21-16, 23-21, to win the men’s singles open title. Alcala lost her No. 1 ranking after focusing on her studies at the University of the Philippines, but she’s willing to sacrifice once again in order to represent the country in future international tournaments. …

  • Girl, grandma hurt in land mine blast

    A 12-year-old girl, who was on her way to her graduation, was wounded together with her grandmother after they were hit by a landmine blast planted near their family’s residence at Sitio Totoy, Barangay San Jose, Monkayo town, Compostela Valley (ComVal) province. Lt. Vergel U. Lacambra, chief of the Public Affairs Office (PAO) of the Army’s 10th Infantry (Agila) Division (10th ID), reported that Marcelyn Domicillo and her 58-year-old grandmother Rosallia Andaya were taken to a hospital in …

  • Army paddlers outlast Navy

    Army began where it left off the previous year, turning back arch rival Navy to rule the men’s 300-meter standard race in the opening leg of the 2015 Cobra Energy Drink-PDBF Dragon Boat Regatta held over the weekend at the Manila Bay.Overall champions the past season, the Army paddlers made their move in the last 100 meters to emerge clear winners in one minute and 7.67 seconds of the event sponsored by the country’s leading energy drink, Cobra, and organized by the Philippine Dragon Boat …

  • Awareness: April Fool’s Day

    On April 1, be wary of people who may borrow money or play practical jokes on you. It’s April Fool’s Day! While believed to be of Western origin, April Fool’s Day is observed in many countries of the world, including the Philippines. April Fool’s Day is that day of the year when people take the opportunity to fool around a bit by playing practical jokes on the gullible. …

  • All-out peace, says PNoy

    President Aquino reiterates that the best option for the government is all-out peace, not all-out war. *** Likewise, the Philippine National Police (PNP) calls for a peaceful and orderly observance of the Holy Week nationwide, as hundreds of thousands of people go on an exodus to major tourist spots and the provinces. A blessed Holy Week! *** The President dismisses calls for an all-out war against the Moro Islamic Liberation Front (MILF) for the Masasapano tragedy and instead will …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options