Tuesday, May 15, 2012
GM Pulls $10M Worth of Facebook Ads - The Daily Beast - General Motors has announced that it will stop advertising on Facebook after determining that the ads on the social-media site are ineffective. The announcement comes just days before Facebook’s highly anticipated IPO, estimated to be as high as $104 billion. GM has been reevaluating its marketing strategy in an effort to cut its $2 billion marketing budget. Company officials reportedly began doubting the Facebook ads earlier this year.
Facebook increases public offering share price making it worth MORE than $100 BILLION | Mail Online - Facebook has raised the price range on its initial public offering to $34 to $38 a share in response to strong demand, a source familiar with the situation said, giving the No.1 social network a valuation exceeding $100 billion. - The company plans to close the books on its IPO on Tuesday, two days ahead of schedule and in a signal that the landmark initial share sale is drumming up strong demand, a second source familiar with the deal told Reuters earlier. The social network is scheduled on Thursday to price its shares, then begin trading on Friday.
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