Zucks Uses Bucks To Buy Computers In Basement of 2 FaceBook Users

Publish date:

DealBook reports that the increasingly nauseating FaceBook (inverse proportion to number of widgets added per day) has gone and bought itself a company. These are the details: the company is called Parakey (Latin for ‘the ability to belt-buckle bob for a Harvard drop-out’). It’s a start-up which had previously been “trying to bridge the gap between information hosted on the Web and data stored on computer hard drives” (translation: two FaceBook users). Parakey was founded and staffed by two people, Blake Ross and Joe Hewitt, “best known for their contributions to Firefox” (translation: they surfed the net a lot using Firefox, not Explorer). The terms of the deal were not disclosed.
Facebook Makes First Buy [DealBook]


Facebook CFO Could Use A Little Help Here

Anyone know anything about drumming up interest in a stock that's down over 45 percent since going public? Wanna help him out after this lockup period ends? No? He could use a little assistance here. Needs a little help. Flew all the way to New York to just come flat out and say "help me." Facebook Chief Financial Officer David Ebersman is meeting with investors in New York today, a person familiar with the matter said, days before the lifting of a ban on stock sales by some of the company’s biggest shareholders. The person asked not to be identified because the meetings are private. Through yesterday, Facebook had tumbled 45 percent since the company sold shares at $38 in a May 17 initial public offering. The lockup on the first block of shares held by insiders expires on Aug. 16. Facebook, which hasn’t closed above the IPO price since its first trading day, needs to reassure investors that it can increase revenue from advertising as more of its almost 1 billion users access the social-networking service on mobile phones, said Victor Anthony, an analyst at Topeka Capital Markets in New York, in an interview. “Investors who bought into the IPO have lost billions of dollars,” Anthony said. “He needs to get out there and tell the story of how he’ll drive revenue growth.” Facebook CFO Said To Meet With Investors Before Lockup Expiration [Bloomberg]