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Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
RBC Capital Markets believes Facebook has a "crypto opportunity," explaining in a note to investors the firm's high expectation for the tech giant's coming cryptocurrency announcement.
"We believe this may prove to be one of the most important initiatives in the history of the company to unlock new engagement and revenue streams," RBC analysts Mark Mahaney and Zachary Schwartzman said in a note Thursday evening.
RBC expects Facebook will release a white paper on June 18 to explain the company's long-term strategy for the cryptocurrency, or "token." The company's crypto offering was reported earlier this month and is expected to allow Facebook employees to take their salary in the form of the new currency. RBC said it plans to give an analysis of the paper when it's released, "to help investors analyze the underlying cryptoeconomics of the token."
"We believe Facebook will use crypto to facilitate a platform for: 1) Payments; 2) Commerce; and 3) Applications & Gaming," Mahaney and Schwartzman said.
RBC has an outperform rating on Facebook with a price target of $250 a share. Facebook's stock is up more than 35% this year as of Thursday's close of $177.47 a share.