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Biz Break: Oracle jumps back into cloud acquisitions, Facebook prices secondary offering

2013-12-21 03:10:16| IT Services - Topix.net

In this Tuesday, March 20, 2012, file photo, a plane flies over Oracle headquarters in Redwood City, Calif.

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Facebook announces new share offering

2013-12-19 16:00:00| Telecompaper Headlines

(Telecompaper) Facebook announced a secondary public offering to sell around 70 million of its Class A shares. The offer includes 27 million shares from the company and 43 million held by shareholders, including 41.35 million held by CEO and co-founder Mark Zuckerberg. The proceeds for the company, estimated at almost USD 1.5 billion based on the current share price, will go towards working capital and other general corporate purposes. Zuckerberg meanwhile is expected to use his proceeds to settle taxes due on the exercise of an option to acquire 60 million Class B shares in the company. Zurckerberg is converting 41.35 million of these shares to Class A stock, on a one-for-one basis, and these will be the shares sold by him in the public offering. The Class B shares carry ten voting rights each, compared to just one vote for the Class A shares. After the transactions, Zuckerberg will hold 62.8 percent of the voting rights in Facebook, compared to 58.8 percent previously. However, this does not yet take into account a planned donation by Zuckerberg this month of 18 million Class B shares, converted to Class A shares. In addition, the social network company confirmed that its stock will join the S&P 500, an index of leading companies on US stock markets.

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Woman Walks Off a Pier While Distracted by Facebook

2013-12-19 02:37:20| PC Magazine Software Product Guide

A female tourist in Australia had to be rescued by police after walking off a pier while browsing Facebook on her phone, officials said Wednesday.

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Facebook to Bulk Up Sports Content With SportStream Buy

2013-12-18 22:34:07| PC Magazine Software Product Guide

Facebook on Wednesday announced it has agreed to acquire sports data firm SportStream for an undisclosed sum.

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New Microsoft CEO in 2014; Facebook Auto-Play Ads; Apple's Sentimental Holiday Ad

2013-12-18 19:33:52| PC Magazine Software Product Guide

From the latest on Microsoft's CEO search to Facebook's new auto-playing ads, here's what you missed yesterday.

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