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Yelp Lied About Review Policies to Inflate Stock Price, Lawsuit Claims (GigaOM)
Yelp, a site that lets consumers post reviews of local businesses, allowed fake negative reviews to remain on its website in order to extract advertising money from local businesses, according to a class action complaint filed Wednesday in San Francisco. The lawsuit was filed on behalf of Yelp shareholders by Joseph Curry, who claims that the company’s executives misled investors about its business practices in order to inflate Yelp’s stock price. Reuters “Reviews, including anonymous reviews, appearing on the company’s website were not all authentic ‘firsthand’ reviews,” the lawsuit said, “but instead included fraudulent reviews by reviewers who did not have first-hand experience with the business.” Yelp said in a statement that the allegations “are without merit” and said it “will vigorously contest them.” ABC News In related news, CEO Jeremy Stoppelman mused about Yelp’s past and present during an interview with The Associated Press as the San Francisco company prepared to celebrate its 10th anniversary. WebProNews In a blog post, Stoppelman wrote, “In summer of 2004, the idea for Yelp was born. Twenty seven countries, fourteen Hackathons, six offices, more than 2,100 employees, thousands of local Yelp events, countless cups of coffee, and two Colbert bumps later, we have officially reached our 10 year milestone. Who would have thought that a simple idea to bring word-of-mouth recommendations online would become a tool used by millions of people worldwide to discover great local businesses?”
InStyle to Reveal September Cover on Snapchat (SocialTimes)
InStyle‘s next social foray is Snapchat. The glossy is revealing its September cover on the ephemeral messaging platform today: “The biggest secret we keep all year is who’s on the cover of September,” Angela Matusik, executive editor of digital at InStyle, told SocialTimes. “[Snapchat] felt like the right place to share the biggest secret of the year.”
YouTube Acquires Mobile Video-Editing Startup ‘Directr’ (VentureBeat)
Google-owned streaming-video service YouTube has purchased video-editing startup Directr for an undisclosed amount, the startup announced. Directr’s technology makes it somewhat easy for people to create movies from a mobile device, regardless of how much film experience they have.
Facebook Likes, Comments, Shares are Important, But Don’t Forget Post Clicks, Other Clicks (AllFacebook)
When Facebook page administrators monitor the performance of posts on their pages, they tend to focus on likes, comments, shares and reach, but ShortStack CEO Jim Belosic urged admins not to forget about post clicks, and even other clicks. Page admins: Do you ever focus on post clicks and other clicks when evaluating content on your pages?
Gmail Now Surfaces Unsubscribe Links to the Top of Emails (The Next Web)
Google has released a neat feature for those who like to reduce the number of emails they receive. In short, Gmail will now surface the Unsubscribe link in certain emails to the top, beside the sender’s email address.
100 Years Later, Twitter Account Reenacts WWI (AllTwitter)
One hundred years ago, on June 28, 1914, World War I began with the assassination of the Austrian Archduke Franz Ferdinand. To ensure we remember the sacrifices, hardships and historical significance of that time, a group of students has created a Twitter reenactment of the first Great War.
Facebook Ads Become ‘Costlier’ Choice for Small Businesses (The Wall Street Journal)
During Facebook’s earnings call last month the social-networking company revealed the average per ad price increased 123 percent in the most recent quarter compared with a year ago. Ad impressions — the number of ads it displayed — declined 25 percent, while ad revenue rose 67 percent to $2.68 billion, the company said.
Frank Underwood and Selina Meyer Trade Places (LostRemote)
They’re two of social TV’s biggest hits, and now the stars of HBO’s “Veep” and Netflix’s “House of Cards” are swapping positions while smiling for the cameras. Entertainment Weekly is out with two different covers donning Kevin Spacey dressed as Julia Louis-Dreyfus‘ “Veep” character Selina Meyer and Louis-Dreyfus dressed as Spacey’s “HOC” character Frank Underwood.
The New Foursquare is Here, and it’s Surprisingly Good (Mashable)
The check-in is dead. Foursquare, the service that popularized telling the world where you are, has fully removed the act of checking into venues from its app in Wednesday’s major update to iOS and Android, version 8.0. Those who still want to announce their location can do so with Swarm, the company’s spin-off app, which debuted in May.