Exit This Way
Facebook is planning to roll out 15-second video ads that could fetch as much as $2.5 million a day. The invention of the TV-style adverts is part of the social network’s plan to capture some of the billions in advertising that are typically funneled to TV networks. [Bloomberg]
Microsoft has only generated $850 million in revenue from the Surface tablet. [GeekWire]
You could book reservations on OpenTable and if all goes well, you might soon be able to pay for it using the app. [New York Times]
If you’re a lucky Google Glass Explorer winner, then some of you are getting the chance to invite a friend to the program to drum up interest. [ZDNet]
More VCs prefer to use LinkedIn than Twitter: 95 percent of them have profiles on the business-centric site compared to 64 percent who are on Twitter. [PEHub]
IP Uh Oh
Another sexy startup has made it across the finish line, following in the fleet footsteps of Instagram. AllThingsD reports that the reservations platform OpenTable has shelled out $10 million to purchase Foodspotting. It ain’t a billion dollars, but it’s not too shabby given that the photo-based recommendations startup had raised $3.75 million in its three years of life.
There has been plenty of talk in recent weeks about internet IPOs and the danger of trying to ride that roller coaster. Many stocks saw a huge rise on their first day or week, followed by a steep fall.
But over at Fortune, Kevin Kelleher points out that this kind of swing in momentum seems to effect tech stocks well outside the bubble.
He notes that New York based OpenTable, which went public in May of 2009, enjoyed a great climb to $118 in April of 2011. But over the last eight months the company has lost 67 percent of its value, settling at a little under $40.