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.

  • Sy moves up, Villar enters Forbes list of billionaires
    Sy moves up, Villar enters Forbes list of billionaires

    Eleven Filipinos are included in Forbes’ 2015 list of richest people in the world. Filipino-Chinese tycoon Henry Sy Sr. continues to be the wealthiest man in the Philippines. The 90-year-old SM supermalls, banking and property tycoon ranked 73rd among the world’s richest with an increased net worth of $14.2 billion from $11.4 billion last year. Sy’s net worth was attributed to the continued growth of his SM Investments Corp. and his more recent venture, the City of Dreams Manila resort and …

  • Jolo apologizes to Bong in visit
    Jolo apologizes to Bong in visit

    Cavite Vice Gov. Jolo Revilla wept and embraced his father as he apologized for the “accidental” shooting incident in their Ayala Alabang residence, the family’s spokesman said yesterday. Lawyer Raymund Fortun came out of the private room at the Asian Hospital and Medical Center in Muntinlupa City to speak to reporters, who were barred from entering the hospital compound during the visit of Sen. Ramon “Bong” Revilla Jr. …

  • Australian drug smugglers being taken to Indonesian island for execution - media
    Australian drug smugglers being taken to Indonesian island for execution - media

    By Jane Wardell and Beawiharta SYDNEY/DENPASAR, Indonesia (Reuters) - Two convicted Australian drug smugglers were removed from a prison in Bali on Wednesday to be taken to an Indonesian island where they will be shot by firing squad, Australian media reported. The planned executions of Myuran Sukumaran, 33, and Andrew Chan, 31, have ratcheted up diplomatic tensions amid repeated pleas of mercy for the pair from Australia and thrown a spotlight on Indonesia's increasing use of the death …

  • Another source of SAF execution video identified
    Another source of SAF execution video identified

    The National Bureau of Investigation (NBI) is still tracing the source of the video showing one of the wounded police commandos being finished off by Muslim rebels during the encounter in Mamasapano, Maguindanao last Jan. 25. A source from the Department of Justice (DOJ) said they have identified two persons who first uploaded the video that went viral over social networking sites. The supposed source of the video was elusive and claimed that somebody just placed it on an external drive. The …

  • N. Korea fires missiles in anger at South-US military drills
    N. Korea fires missiles in anger at South-US military drills

    North Korea fired two short-range ballistic missiles into the sea and vowed "merciless" retaliation Monday as the US and South Korea kicked off joint military drills denounced by Pyongyang as recklessly confrontational. The annual exercises always trigger a surge in military tensions and warlike rhetoric on the divided peninsula, and analysts saw the North's missile tests as a prelude to a concerted campaign of sabre-rattling. "If there is a particularly sharp escalation, we could see the …

  • US billionaire says WWII Japanese ship found in Philippines
    US billionaire says WWII Japanese ship found in Philippines

    Microsoft co-founder Paul Allen said Wednesday he had found one of Japan's biggest and most famous battleships on a Philippine seabed, some 70 years after American forces sank it during World War II. Excited historians likened the discovery, if verified, to finding the Titanic, as they hailed the American billionaire for his high-tech mission that apparently succeeded after so many failed search attempts by others. Allen posted photos and video online of parts of what he said was the …

  • How Islamic is Islamic State group? Not very, experts say
    How Islamic is Islamic State group? Not very, experts say

    CAIRO (AP) — Three British schoolgirls believed to have gone to Syria to become "jihadi" brides. Three young men charged in New York with plotting to join the Islamic State group and carry out attacks on American soil. A masked, knife-wielding militant from London who is the face of terror in videos showing Western hostages beheaded. …

  • Couple married 67 years holds hands in final hours together
    Couple married 67 years holds hands in final hours together

    FRESNO, Calif. (AP) — After spending 67 years together as devoted husband and wife, there was no question how Floyd and Violet Hartwig would end their lives — together. …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options