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FACEBOOK INC

Facebook Shareholders Back Proposal To Remove Mark Zuckerberg As Chairman

Four major U.S. public funds that hold shares in Facebook Inc on Wednesday proposed removing Chief Executive Officer Mark Zuckerberg as chairman following several high-profile scandals and said they hoped to gain backing from larger asset managers. State treasurers from Illinois, Rhode Island and Pennsylvania, and New York City Comptroller Scott Stringer, co-filed the proposal. They oversee money including pension funds and joined activist and original filer Trillium Asset Management. A similar shareholder proposal…

Snapchat Rules Out Selling Shares After Stocks Tumble

Snap Inc Chief Executive Officer Evan Spiegel said on Thursday neither he nor co-founder Bobby Murphy would sell shares of the Snapchat parent this year, but that failed to soothe investors after quarterly results fell short of analyst expectations. Shares of the Los Angeles company slumped nearly 17 percent in extended trading. A lock-up period preventing insiders from selling the shares, which since their March market debut have been pressured by investor concerns about user growth, expired at the end of July. "Given…

WhatsApp Now Supports All File Formats

World’s most popular messaging service, WhatsApp continued its push to make the application more appealing to its users by enhancing file sharing feature. The Facebook-owned company in its latest update added support for all types of file transfers, including archives. Earlier, it was just limited to file formats that the mobile platform can understand, with exception of third-party apps. As part of the update, WhatsApp now also arranges photos in a gallery if the user is sending more than five photos at once, thus…

Facebook CEO, Mark Zuckerberg, Quietly Visits Lagos

Zuckerberg, who is currently the world's 7th wealthiest man, was seen at a technology hub, CC Hub in Yaba, Lagos State. His trip to Nigeria is the Tech Mogul's first visit to Africa, BBC reports. Zuckerberg is said to be in Nigeria to see how Facebook works in the country, and possibly help the development of technology in Africa. In a brief press release by Facebook, "Zuckerberg is in Nigeria to listen and learn and take ideas back to California on how Facebook can better support tech development and