In Facebook's online road show, Facebook CFO David Ebersman told potential investors to "expect us to invest heavily in mobile." Facebook has already put its money behind that statement, grabbing photo-sharing network Instagram in its largest-ever acquisition.
Enter video-sharing apps Viddy and Socialcam, which have both been hailed as "Instagram for video." They're mobile-native creations that are spreading fast, thanks in part to their gaming of Facebook's "social sharing" tools. (Want to watch a Socialcam video on a friend's Facebook feed? You'll have to install Socialcam's Facebook app, which adds a fresh user to Socialcam's tally.)
Facebook is already the world's largest photo repository, displacing previous leaders like Flickr. If it wants to go head-to-head with YouTube, buying a hot video app would give it a head start.
Elite wealth managers are helping Facebook's soon-to-be-rich structure their financial affairs.
|Embattled Greek Finance Minister Yanis Varoufakis resigns|
|No! Greek vote shocks Europe|
|Burt of Burt's Bees dies at 80|
|Premarkets: 5 things to know before the open|
|Markets tumble as Greece heads for the exit|