Facebook stock up 10 percent - Facebook shares closed at $33.05 today, up 10 percent from last Friday. Despite some bad news regarding a legal settlement that will allow users to remove their names from Sponsored Stories, optimism is growing for Facebook’s potential future to create an ad network. The company also announced subscription billing and a move away from its virtual currency Credits toward a broader payments platform that allows developers to sell items in a user’s local currency, i.e., dollars or euros.
Facebook forms creative council – Facebook announce its inaugural Facebook Creative Council, which convened in Cannes this week. Similar to the the Client Council announced last year, the Creative Council will help Facebook identify priorities for agency creatives. Members include Jeff Benjamin (JWT), Colleen DeCourcy (Socialistic), David Droga (Droga5), Rob Feakins (Publicis), Toshiya Fukuda (777), James Hilton (AKQA), Linus Karlsson (McCann), Amir Kassaei (DDB), Nick Law (R/GA), Mike Lazerow (Buddy Media), Tor Myhren (Grey), Rob Reilly (CPB), Mark Tutssel (Leo Burnett) and Mark Waites (Mother).
AmEx and Facebook team up for small business contest – American Express OPEN and Facebook launched its second annual “Big Break for Small Business” contest. Five small business owners will receive house calls from American Express OPEN and Facebook marketing specialists who help transform a business’ social media efforts. Winners will also receive $25,000 in cash to go toward the social strategies they learn. Every small business that enters the contest will get $50 in free Facebook advertising credits. American Express Cardmembers and merchants who enter will receive $100 in advertising on the site.
Users get easier opt-out from notifications - Facebook introduced a new way for users to opt out of notifications from apps, groups, or other sources that send them. People have always been able to opt out on the Notifications Settings page, but now users can opt out directly from the notifications drop down menu.
Facebook adds comment editing - Users can now edit their own comments at any point after they’ve been posted. Previously, Facebook users only had about 12 seconds to edit their comments without removing them. Now comments that have been edited include an “edit history” that anyone can view. This means users can fix typos or clarify a point, but a full record of edits is available so users can’t deny what they wrote before editing it.
Payvment adds one-click Facebook ad buying – E-commerce platform Payvment announced a new one-click Facebook ad buying service this week to give merchants a way to turn promotional Facebook posts into ads and target users based on their shopping patterns.
New Louisiana law requires sex offenders to list status on social sites – Louisiana sex offenders must now state their criminal status on Facebook and other social networking sites. The law, which is the first of its kind in the U.S., requires sex offenders to list the crime for which they were convicted, the jurisdiction of conviction, a description of their physical characteristics and residential address.
Study: 24 percent of top websites integrate Facebook - According to a study by Pingdom, 24.3 percent of the top 10,000 websites in the world include Facebook integration on their homepages, this includes Facebook login and Facebook plugins such as the Like button. A total of 49.3 percent of the top 10,000 sites include basic links to Facebook.
GE launches HealthyShare Facebook app - GE launched a new Facebook Timeline-enabled app called HealthyShare, a tool for people to share their health goals, track their progress and use friends as sources of motivation toward achieving those goals. The app, which was timed ahead of the Olympic Games, was developed in partnership with Facebook.