The Week We Searched For: Renren shares jump 29%- China’s largest social media network, Renren, hit the New York Stock Exchange with a splash on Wednesday, with shares jumping 30 percent in its IPO. Renren’s shares rose to $22 in its first day of trading, a 56.6 percent increase over its initial offering price. Renren is the first listed social media site on the NYSE. Google introduces local business photos- Google announced yesterday its new Google Business Photos service, which will enable users to explore local businesses through Google Place Page. The look is similar to the images available on Google’s Street View service, the main difference being, of course, that for the first time Google is allowing customers to visually explore the interior of locations. Marketers will have to opt in to participate in the service. To learn more, check out Anthony Ha’s article on VentureBeat. Google introduces AdWords policy changes- Google introduced several changes to their AdWords policy on Wednesday, aimed at improving the security of personal and financial information. According to a post on Google’s Inside AdWords blog, “AdWords should be a safe, fair, and trusted marketplace for both you and the users who click on your ads. That’s why many AdWords policies focus on transparency, user safety, and security.” The changes consist of three new requirements that ‘cover disclosure and the usage of personal information.’ The first term will require companies to present customers with a clear disclosure prior to the customer giving any of their personal information. The second states that customers should have the option to opt out of direct communications with advertisers, i.e. emails, phone calls, etc. The last term requires all advertisers to use SSL (Secure Sockets Layer) when collecting payments, financial or personal information. Facebook-Google-Skype- According to Reuters, both Facebook and Google are in separate venture discussions with the web conferencing service Skype. The deal is rumored to be valued at $3 to $4 billion. What we’re reading:
- “Demand Media Rising Above Google's Search Algorithm Changes”- In an article on Fast Company, Ariel Schwartz discusses Demand Media’s new content optimization improvements. Demand Media, the conglomerate behind eHow, Cracker and Livestrong, was one of those hit hardest by Google’s recent algorithmic changes, aimed at reducing spam and improving the quality of Google’s search results.
- “Situation Photo Shows Flickr Is Grown Up”- Ryan Singel discusses on Wired.com how recent news events, like the Royal Wedding, suggest that Flickr has acquired new, image sharing influence on the Internet. Even if Flickr has been eclipsed by Facebook in popularity, Singel contends that it has become an institutional infrastructure for sharing photos online.
- “Amid Talent War Apple, Google, Adobe Sued for Conspiring to “Fix” Employee Salaries”- Greg Sterling from Search Engine Land authored an interesting article today, addressing a new class action lawsuit against Apple, Google and other tech companies. The suit seeks compensation for employees, after the US Department of Justice rule last year that the companies violated antitrust laws by collectively agreeing to not steal each others’ employees.