Facebook has just spent $2bn on start-up Oculus VR, in a bet that virtual reality headsets will be the next big social platform after smartphones. The world’s largest social network thinks virtual reality will become part of everyone’s daily life, being used in everything from entertainment to education. This is Facebook’s second big deal of the year, as Mr Zuckerberg goes on an acquisition spree to help maintain its dominance. Join Hannah Kuchler and Tim Bradshaw for a live blog of the call where Mr Zuckerberg is expected to explain the sense behind the deal.
Facebook’s chief security officer said on Tuesday the social network has united with its Silicon Valley competitors to improve cyber security, after a recent report suggested the National Security Agency may have posed as the social network to infect target’s computers.
Joe Sullivan said that Facebook was working hard to “make sure the system is robust enough that everyone should be coming in the front door with legal process and not getting information any other way”. Read more
By Hannah Kuchler and Tim Bradshaw
Facebook unveiled the sleek, unfolding pages of its Paper app last month to appreciative oohs and aahs from reviewers, marking a new era for the social network as design becomes more central to companies up and down Silicon Valley.
Paper was developed with a small unit of designers who wanted to break away from the site’s basic ‘blue and white’ look to create an app inspired by the National Geographic magazine. Read more
Nok Nok? Who’s there? Usually someone with a terribly easy to guess password, a cyber criminal’s dream. But perhaps not for long.
Lenovo, the Chinese PC and phone manufacturer, has invested in Nok Nok Labs, a cyber security start up which aims to transform the industry by replacing passwords with a new technology which works with everything from fingerprints to voice recognition.
Nok Nok Labs raised $16.5m from Lenovo as well as venture capitalists DCM and Onset Ventures on Thursday to create a platform which will support the latest authentication technology. Lenovo will join the board of Nok Nok – and the assumption is, use the new tech in its devices from laptops to smartphones. Read more
“A million dollars isn’t cool. Do you know what’s cool? A billion dollars.” So early Facebook investor Sean Parker’s character said to a young Mark Zuckerberg in the film The Social Network.
Ten years on, the founder and chief executive of Facebook may have a new answer to what’s cool: a $150bn market capitalisation, almost $8bn in revenue and personal wealth estimated at $30bn. Read more
Yahoo has lost its chief operating officer who was in charge of steering the internet company’s advertising business, as it continues to lose share in the digital ad market.
Henrique de Castro is leaving swiftly after reports he fell out with Marissa Mayer, who poached him from her former home Google as part of her turnaround plan for the purple-plastered company. Read more
Twitter co-founder Biz Stone has unveiled his much-anticipated new product, a search engine for social networks called Jelly.
Jelly is designed for users to tap the knowledge of their networks, sending photos and asking questions of their friends and friends of friends. Mr Stone, who left day-to-day operations at Twitter a couple of years ago, co-founded the company in April but until now the product had top secret. Read more