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May.20,2011-align: center;”>Bloomberg: Surging demand for social-media stock and a comeback in venture-backed initial public offerings propelled LinkedIn Corp., the largest professional-networking website, to more than double on its first trading day. The stock, trading under the symbol LNKD, gained $8.16 to $102.41 at 9:36 a.m. on the New York Stock Exchange. The shares climbed $49.25, or 109 percent, to $94.25 yesterday on its first day of trading.
Many doubters don’t believe the current price of LinkedIn shares will remain consistent but another view is that social media is a hot trend at the moment and many investors are chomping at the bit to get a piece due to a recent lack of capital-raising opportunities. The other big four; Facebook, Twitter, Groupon and Zynga are apparently keeping watch on the LinkedIn IPO as they consider making their own
debut on the Stock Exchange.
Search Engine Land: Google’s ambitious effort to digitize the world’s newspaper archives and make them available online has come to an end. The project launched in 2008, and it currently has digitized material from what looks like about 2,000 newspapers. Google emailed its partners on Thursday to announce that the program was coming to an end so Google could concentrate instead on “newer projects that help the industry, such as Google One Pass, a platform that enables publishers to sell content and subscriptions directly from their own sites.”
This was a promising project and could have been similar to sites like Wikipedia, although Google will no longer be adding content to the sites, they are giving the current catalogue of scanned articles back to the newspaper partners so that they can seek an alternative online publisher. The initiative simply wasn’t profitable enough and wasn’t creating strong competition for Facebook and LinkedIn.
Make Payments With Your Cell Phone
BBC News: From today, when you want to buy a coffee or a sandwich, instead of reaching for coins or a credit card you can just brandish your phone. The mobile
wallet has arrived in Britain, in the form of a Samsung phone and a joint venture between Barclaycard and Orange. Now that idea is coming to the UK, albeit in quite a limited form for now. On the Orange Barclaycard phones you will only be able to spend a maximum of £15 a time, so you’re unlikely to decide you can afford to leave your credit cards behind when you leave home in the morning.
Fantastic idea but this kind of creates a domino effect of concerns; how secure is the payment method? Will it be protected in the event your phone is stolen? Albeit the thieves could only make small transactions. I’m not sure if this will replace the humble wallet, would be rather embarrassing if you were out for dinner and your phone went flat…
Sony Security – Will They Ever Get It Right?
The Guardian: When Sony said that its PlayStation Network (PSN) had been hacked in April, potentially releasing the personal details of 77 million people – such as their email address, physical address and date of birth – people understood that restoring the service might be difficult, and that to ensure security they might be asked to change their password. What users hadn’t expected was that Sony would bring the service back up and require them to change their password – but that all you’d need to provide would be an email address and date of birth. In other words, exactly the details that the hackers putatively already have.
Oh Sony! How are the millions of Playstation Network members meant to ever trust you? Yesterday Sony was forced to take down the site that enabled Playstation Network members to reset their password after they realised that because the hackers had access to user’s personal details, they would be able to reset their passwords too. It’s been about 3 weeks since the initial security violation and as a PS3 owner, I am questioning if my next purchase would by a Sony.
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