Daily Archives: May 17, 2012

Tim Bradshaw

As Facebook settles its IPO price at a top-of-the-range $38, valuing the social network at $104bn, Facebookers are doing what Facebookers do: hacking.

In a so-very-Facebook move, the company is running an overnight hackathon on Thursday night, right up until founder Mark Zuckerberg rings the Nasdaq opening bell on Friday morning – an attempt to show the world that the company’s heart really lies in the product, not the money. Read more

Tim Bradshaw

Rakuten has led a $100m funding round into Pinterest, which values the online “curation” community at around $1.5bn.

The Japanese ecommerce giant won out over major US venture capital firms who were vying for a piece of Silicon Valley’s new sweetheart, which lets users clip images to a virtual pinboard.

The FT spoke to Hiroshi Mikitani, chief executive of Rakuten, about how social discovery can boost ecommerce and the growing importance of images over text on the web. Read more