Facebook sets IPO price at $38 a share

Facebook stands to raise $16 billion in the largest Internet IPO in history -- almost 10 times what Google raised when it went public in 2004.

by Paul Sloan  May 17, 2012 1:21 PM PDT

Let the show begin.

Facebook has set the price of tomorrow's IPO at $38 a share, after phenomenally strong demand from big money managers to get in on the biggest Internet IPO in history. The price gives Facebook a market value of $104 billion out of the gate, more than the stock market value of Amazon and about half that of Google's.

Facebook has raised $16 billion by selling 421.2 million shares. That's almost 10 times what Google raised when it went public in 2004, a deal that until now had been the record holder among Internet IPOs, according to data compiled byRenaissance Capital. The top U.S. IPO of all time is Visa, which raised $17.9 billion in March 2008.

Earlier this week, Facebook boosted its price range, from $28 to $35 a share to $34 to $38 a share.

This optimism comes even as big insiders -- investors Peter Thiel and Yuri Milner, among them -- just yesterday upped the number of shares they are selling in the offering because Facebook raised the price range.

And the news about the company recently has hardly been all positive. Facebook took a publicity hit this week when General Motors said it was pulling $10 million worth of Facebook ads because they weren't working. Last month, Facebook reported a weak first quarter, showing that growth is slowing. And the company has acknowledged that as of yet it has no way to make money from its biggest growth area -- mobile.

No matter. Investors don't want to hear any of that. The big boys have weighed in with their dollars, and tomorrow individual investors -- despite the obvious risk of getting in on day one -- will likely also pile in. After that, all bets are off.

The big winners of Facebook IPO (photos)

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Source: Cnet | News

Google, Microsoft said to be creating new cloud services

The two rivaling software giants are rumored to be in a run-off to introduce new Infrastructure as a Service platforms for the cloud, which could mean trouble for Amazon.

by Dara Kerr  May 17, 2012 5:30 PM PDT

(Credit: James Martin/CNET)

Google and Microsoft are reportedly neck and neck to get an Infrastructure as a Service cloud computing offering off the ground in the near future.

According to tech news site GigaOM, sources say that while Google has been busy building a cloud service that will compete with Amazon's EC2 cloud, Microsoft has also been racing to get its own Infrastructure as a Service platform out. For now, it's looking like Microsoft may cross the finish line first.

GigaOM reports that Google's plan is set to debut a virtual renting service by the end of the year and Microsoft is said to be gearing up to announce its cloud service during a June 7 event in San Francisco.

When contacted by CNET, a Microsoft spokesperson said, "Microsoft is hosting Meet Windows Azure, a San Francisco based developer event on June 7," and that, "We have nothing else to share at this time."

Google declined to comment.

This isn't the first time Google and Microsoft have competed in the cloud realm. Both have business software suites in the cloud, Microsoft with its Office 365 and Google with its Apps for Business.

Taking their cloud software to the next level with Infrastructure as a Service makes a lot of sense for both companies, especially if they can edge into Amazon's market. According to GigaOM, "renting virtual servers in an IaaS model is still where the money is in cloud-based computing."

Courtesy: news.cnet.com

Poll: Windows 8 or Windows RT device?

Which upcoming Windows device seems more appealing? One running on Windows 8 or one on Windows RT?

by Brooke Crothers  May 12, 2012 3:02 PM PDT

WIndows 8 or Windows RT tablet?

Which has the most appeal: A Windows 8 or Windows RT tablet and/or convertible?

• Yes, I am waiting for a tablet or convertible running Windows 8 on an Intel processor.
• Yes, I am waiting for a tablet or convertible running Windows RT on chips from Qualcomm, Nvidia, or Texas Instruments.
• Not interested in either.
• Satisfied with my iPad.
• Satisfied with my Android tablet.

Vote NowView results

Windows 8 and Windows RT and the new touch-centric Metro interface will be upon us before you know it. So, which has the most promise?

Windows 8 on Intel: These tablets and convertibles will run the full-blown Windows 8 operating system. Tablets from device vendors such as Hewlett-Packard, Dell, and Acer will use Intel's upcoming "Clover Trail" Atom processor. Some convertibles will also tap higher-performance Ivy Bridge processors. And, of course, chips from Advanced Micro Devices.

Upside The biggest upside (barring unforeseen glitches) is the breadth of compatibility with existing Windows applications and the ability to use Metro mode or revert to a more traditional Windows interface to run older applications.

Also, Windows 8 Pro will be more corporate-enterprise friendly, including features like PC management, domain connectivity, and remote desktop.

Downside The downside is expected to be price: some of the corporate enterprise-targeted designs, for example, will likely be somewhat pricey, at least relative to Windows RT devices.

(See Microsoft's chart for a detailed comparison of Windows 8 and Windows RT.)

Windows RT: Windows 8 on ARM (WoA) -- officially renamed to Windows RT by Microsoft -- will run on processors from Qualcomm, Nvidia, and Texas Instruments, marking the first time a mainstream Windows operating system will be powered by chips from these ARM silicon suppliers in addition to those of Intel and AMD.

Upside will be price, battery life, and size. These devices will likely be inexpensive, boast good battery life, and be plenty thin and light.

Another tasty upside is that Windows RT will come with Microsoft Office. You'll have to purchase Office separately for Windows 8.

Downside Look no further than Microsoft's Steven Sinofsky for an explanation. ARM will not runWindows 7, and older, stuff. "If you need to run existing x86/64 software, then you will be best served with Windows 8 on x86/64," Sinofsky said.

And you'll have to buy the complete package. Device makers will work with ARM partners to create a device that is "strictly paired with a specific set of software (and sometimes vice versa), and consumers purchase this complete package, which is then serviced and updated through a single pipeline...this is all quite different than the Windows on x86/64 world," Sinofsky said.

And Windows RT won't get Windows Media Player or Storage Spaces.

Microsoft's Michael Angiulo demonstrating Windows 8, Windows RT devices.

(Credit: Microsoft)

Google eyes Meebo buy

by Edward Moyer  May 12, 2012 9:58 AM PDT

Google is in talks to buy social-products company Meebo for about $100 million and is close to a deal, according to a report.

All Things Digital's Liz Gannes offered little more than that in herreport, which cites unnamed sources. Gannes said Meebo CEO Seth Sternberg did not reply to a request for comment and that Google said it wouldn't comment on rumors.

Meebo started out as a Web-based instant messaging service that emulates services like Yahoo IM but requires no downloading or installation. Developers can create applications and services to run on the architecture, and the service also provides "Rooms" designed to make it easy to share media and Web sites.

That's evolved into the Meebo Bar, a JavaScript plug-in that sits at the bottom of Web pages and enables a lot of different social interaction and sharing features. Meebo also has mobile versions of its products.

As Gannes points out, the company's homepage is now pushing a tool that lets people "create an interest profile to get new and timely information about the things that matter to you."