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Twitter Raises Price Range for its IPO (The New York Times/Dealbook)
Twitter is feeling less timid ahead of its imminent initial public offering. On Monday morning, the company said it had raised the price range for its IPO to $23 to $25, signaling the company’s bullish outlook ahead of its trading debut on Thursday. Reuters The social network kept the offering size at 70 million shares. That means it will raise up to $2 billion if an overallotment option of 10.5 million shares is exercised. USA Today Twitter executives, including CEO Dick Costolo, are in the middle of an IPO roadshow, meeting prospective investors in cities including New York, Boston and Los Angeles. On Monday, they are due to meet investors in San Francisco. The Wall Street Journal/Money Beat Twitter is operating from a smaller base than Facebook, and is likely to continue operating from a smaller base. “We believe investors should assume that Twitter’s penetration and user base will be materially smaller than Facebook’s,” Sanford Bernstein wrote. The firm sees Twitter with about 100 million active users monthly in the U.S., and 575 million overseas, by 2018. Facebook has more than 1 billion monthly active users. Bloomberg Businessweek With the company’s new valuation skyrocketing to $13.6 billion, this initial public offering has become another example of a company getting a pass on fundamentals such as earnings and quality of revenue. If you examine how Twitter shares will be priced relative to these basic financial measures, they’ll be tremendously expensive, especially for retail investors.
Twitter, Bing Renew Search Deal (AllTwitter)
Microsoft has renewed its agreement with Twitter that makes tweets searchable on the Bing platform. The partnership, which began in late 2009, allows tweets to surface throughout Bing, including the main index and Bing’s social search page.
Google’s New Connected Classrooms Scheme Offers Teachers Virtual Field Trips Via Google+ Hangouts (The Next Web)
Google wants more teachers to use its Google+ Hangouts video chat platform as a means of delivering virtual field trips in the classroom. To that end, the company is launching “Connected Classrooms,” a new initiative that helps educators link up with organizations that can provide an interesting tour or discussion via Hangouts on Air.
Warning: Facebook Credits Generator is a Scam (AllFacebook)
More than 70,000 Facebook users fell victim to a scam that promised users the ability to generate five to 5,000 free Facebook Credits, despite the fact that the social network stopped using Facebook Credits Sept. 12, but Bitdefender’s HOTforSecurity blog reported that the fraudulent message were blacklisted by Bitdefender’s free Safego application Friday. According to HOTforSecurity, potential victims saw posts in their News Feeds that read (unedited): “This is how all the professionals do.. They use this free software to add free credits to their accounts..So they can win all the time.”
The YouTube Music Awards: a Train Wreck, Exuberant, or Just in Search of the Right Tone? (GigaOM)
The YouTube Music Awards, live-streamed from a New York City warehouse transformed into a massive performance space, brought hosts Jason Schwartzman and Reggie Watts face-to-face not only with YouTube music stars like DeStorm and Lindsey Stirling, but headliners including Lady Gaga and Eminem. The hour-and-a-half-long show, directed by Spike Jonze, had a deliberately unscripted, unrehearsed feel — the hosts, performers and audience roamed free from stage to stage, at times literally being chased by the cameras.
Twitter Mislabeled Philadelphia City Paper as Spam, Breaks Links to News Articles (AppNewser)
Journalists and newspapers should be wary of relying on Twitter to disseminate new stories. Last week, the micro-blogging site mislabeled the Philadelphia City Paper as spam and disconnected all links to news articles, prompting some of the paper’s journalists to hold off on publishing stories, since it will not get the proper attention via Twitter.
LivingSocial’s Traffic Is Plummeting (AllThingsD)
In September, traffic to LivingSocial on desktop computers dropped 42 percent, to 4.6 million visitors, from 7.9 million in the same quarter last year, according to comScore. Such a collapse wouldn’t be awful if mobile traffic was rising, but it’s not.
AppXchange Launches on iOS to Fuel Social App Discovery (Inside Mobile Apps)
ICS Mobile has launched AppXchange on iOS, its social app discovery platform which aims to help users find the best applications across a variety of categories, using suggestions from other users, tech experts and even celebrities. The app curates recommendations and allows users to browse through topics to find apps that matter to them, based on the types of apps they already have installed on their device(s).
IBM Takes Aim at Twitter, Claims to Have Patented Online Advertising (AdAge)
IBM is alleging that Twitter has infringed on its patents, including one that would seem to give the computing giant status as an inventor of online advertising. Revealed in a Twitter filing to the Securities and Exchange Commission Monday morning, IBM is claiming that Twitter has infringed on at least three of its patents, including one entitled “Method for presenting advertising in an interactive service,” which was filed in 1993 but not published until 2006.