Facebook is reportedly ready to allow money transactions between friends on Messenger, according to hacked screenshots and video from Cycript. The feature will allow users to send money using a debit card, similar to how one would send a picture. In order to enhance security, an in-app pincode has been added. The reasoning behind former PayPal President David Marcus’ move to head of Messenger is now clear. The app could compete with Venmo, PayPal, and Square Cash. Continue reading Facebook May Introduce Payments Through its Messenger App

Facebook has relaunched Atlas, an advertising platform to help companies better target users on websites outside the social network. The company acquired Atlas from Microsoft last year. While Google’s DoubleClick is the dominant advertising tool with a 32 percent share of the market this year, Facebook is aiming to increase its 8 percent to take over the lead. Facebook sees a major opportunity in the 92 percent increase projected for the worldwide mobile ad market. Continue reading Facebook Sets Sights on Mobile Ad Market with Atlas Relaunch

Lionsgate and “Twilight” creator Stephenie Meyer announced plans to distribute a series of short films exclusively via Facebook. Five aspiring female directors will be hired to produce mini-movies based on the “Twilight” characters. Meanwhile, Netflix announced a new original series for kids, the animated “Kong: King of the Apes,” in addition to an exclusive four-picture deal with Adam Sandler. Netflix is also dealing with a potential exhibition boycott after announcing the sequel to “Crouching Tiger, Hidden Dragon.” Continue reading ‘Twilight’ Coming to Facebook, Netflix Unveils Exclusive Deals

Facing new competition in the mobile payment space, including the recently unveiled Apple Pay, eBay announced yesterday that it plans to spin off its PayPal business into a separate publicly traded company in late 2015. This is an about face by the online retailer, which had defended keeping the companies together after investor Carl Icahn aggressively pushed for a separation. EBay now says that a split will provide both companies with better competitive positions and allow them to focus on strategy. Continue reading Course Reversal: eBay Plans to Spin Off PayPal Biz Next Year

ABC relaunched its streaming WATCH ABC app last week with new features that allow viewers to multitask on social networks while they are watching shows. Big data showed that only a small amount of people using their mobile devices while watching TV are actually discussing the shows online or interacting with anything related to the shows. Facebook and Twitter integration in the update is designed to make it easier for viewers to check social media and share their favorite scenes and episodes. Continue reading ABC Reimagines Second Screen With its WATCH App Update

Dataminr is a software tool that can find patterns in the millions of tweets posted every day to help news organizations spot leads for breaking news. CNN, BBC, and Gannett had already been testing Dataminr before the software was officially released on Tuesday. The new “Dataminr for News” includes a new mobile app, which will send alerts to notify journalists of developing stories. Dataminr is one of several technologies that media companies are using to mine social media. Continue reading New Software Can Detect Breaking News Leads on Social Media

Facebook reportedly plans to unveil a new advertising platform next week that is designed to improve how marketers target and measure their online ads. Atlas, a re-tooled version of the Atlas Advertiser Suite that the social network purchased from Microsoft last year, intends to challenge Google’s dominance in the online ad space. The new platform is expected to help marketers understand the engagement that results from ads on Facebook’s services and third-party websites and apps. Continue reading Facebook Takes Aim at Google with New Advertising Platform

Oculus unveiled its latest VR headset, currently named “Crescent Bay,” at a Hollywood event over the weekend. Some 800 developers attended Oculus Connect, the company’s first conference, to check out the new device. While not yet commercially available, the prototype promises a more comfortable, natural experience. Crescent Bay features 360-degree motion tracking, integrated headphones and improved ergonomics. It is not the consumer version, but is “sprinting toward” it, explained chief exec Brendan Iribe. Continue reading Oculus Debuts Crescent Bay VR Prototype at LA Conference

While Apple had a big weekend selling more than 10 million new iPhones, it wasn’t the only tech giant breaking records. Chinese e-commerce company Alibaba Group Holding Ltd. closed its first day of trading on Friday at $93.89 per share, a 38 percent increase from its IPO price, and the biggest first-day jump for an IPO of at least $10 billion. The IPO became the largest ever at $25 billion, after underwriters exercised a greenshoe option to increase the deal size by 15 percent based on strong demand. Continue reading Alibaba Sets World IPO Record After its First Day of Trading

Social network Facebook is making changes to its algorithm that determines what stories show up in its users’ News Feeds. The update will give major news events like the Ferguson riots more priority, so that people can share and discuss these stories as they unfold. Facebook has also been able to convince advertisers to spend on high user engagement. An eMarketer report shows marketers’ digital ad spending share is higher than the share of time people actually spend on Facebook. Continue reading Facebook Updates News Feed to Include More Current Events

The Alibaba Group, China’s leading e-commerce operator, raised nearly $21.8 billion in its initial stock sale yesterday. While not the biggest initial public offering to-date, Alibaba did have one of the strongest stock sales on record, surpassing those for Facebook and General Motors. When it begins trading today on the New York Stock Exchange, it is poised to become one of the world’s most impressive Internet powerhouses, a compelling blend of Amazon, eBay, Google and other tech giants. Continue reading Alibaba Raises $21.8 Billion in IPO: Ready to Take On Google

Micro-sharing just got easier for Facebook users. Instead of using complicated privacy controls, Facebook is working on an app codenamed “Moments” that will let Facebook users choose which sets of friends can see their content. The app focuses on audience rather than content, so each group of “co-workers,” “family,” and “high school pals” will have their own tile in the grid design. Facebook may auto populate the groups in the new app based on users’ Facebook activity. Continue reading Facebook Builds App for Private Sharing with Close Friends

Facebook has launched the TODO project (“Talk Openly, Develop Openly”) to help streamline the process of executing open source software projects, a major concern in a new era of cloud and mobile computing. Since Monday’s announcement, more than 30 companies have joined the initiative including Google, GitHub, Dropbox and Twitter. The TODO project plans to streamline the process of releasing and updating software, as well as develop a common set of tools for these programs. Continue reading Facebook’s TODO Project Aims to Steer Open Source Software

More than 20 talent agencies and management companies are vying to represent some of YouTube’s biggest celebrities with the promise of growing these stars’ online audience and traditional media presence. Agents often negotiate endorsement deals, acting gigs, music deals and book deals. They can also help the young-adult and teenage stars navigate licensing contracts. YouTube stars have started attracting traditional media companies, and now traditional management companies. Continue reading YouTube Stars Hire Agents, Managers in Traditional Media Push

While 73 percent of millennials still watch television content on a traditional TV set, many are turning to alternative platforms for guidance regarding what to watch. A recent Omnibus survey learned that 74 percent also watch content online via computer, smartphone or tablet, and 76 percent say they discover new shows from friends, family and social media. Service providers such as RelayTV are responding by offering platforms that effectively blend social networking with traditional television. Continue reading RelayTV Targets Millennials with Integrated Social TV Platform