SAN FRANCISCO (Reuters) – Facebook Inc has agreed to pay $10 million to charity to settle a lawsuit that accused the site of violating users’ rights to control the use of their own names, photographs and likenesses, according to court documents made public over the weekend.
The lawsuit, brought by five Facebook members, alleged the social networking site violated California law by publicizing users’ “likes” of certain advertisers on its “Sponsored Stories” feature without paying them or giving them a way to opt out, the documents said.
When are facts just the facts– and when do they become scurrilous?
That’s the question created by venture-capital fund Kleiner Perkins in its bid to arbitrate partner Ellen Pao’s discrimination lawsuit against the firm — a turn of events which would sink the proceedings out of public view.
In a memo filed Tuesday in California state court Kleiner Perkins Caufield & Byers argues that in her May complaint, Pao included “provocative facts– many unnecessary to the pleading of her claims”. The firm gave the example of her relationship with Ajit Nazre, a former partner who left the firm earlier this year. Pao said he pressured her to sleep with him.
SAN FRANCISCO (Reuters) – Venture-capital firm Kleiner Perkins Caufield & Byers asked a California state court on Wednesday to dismiss a discrimination lawsuit by partner Ellen Pao, saying it denied “each and every material allegation” made by her.
The suit has become the talk of Silicon Valley, where the digerati are avidly debating its merits — along with broader questions about sexism in the technology industry.
SAN FRANCISCO, June 11 (Reuters) – Marketing on Facebook
influences consumer behavior and leads to increased
purchases for the brands that leverage the social-networking
site, consulting company comScore said in a report released
“The Power of Like 2: How Social Media Works,” looks at
paid advertising on Facebook as well as earned media exposure–
meaning mentions of the brand made by Facebook users in status
updates and the like. It is based on the experiences of large
brands such as Best Buy, Starbucks and Target
SAN FRANCISCO/ SAO PAULO, June 7 (Reuters) – One of
Facebook’s earliest investors has turned his attention to
a distant market with a small but lively start-up scene: Brazil.
Kevin Efrusy, the partner at Accel who spearheaded the
firm’s initial $12.7 million investment in Facebook back in
2005, has made several new investments in Brazil over the last
year or so.
Kleiner Perkins partner Mary Meeker has finally found a company that meets her standards. Just days after saying she spent the first quarter turning down overpriced investments, her fund is investing $15 million in Lending Club.
Meeker, who leads Kleiner’s $1 billion Digital Growth Fund, told the All Things D conference last week that private-market valuations were high and she and her colleagues “just were having trouble getting comfortable.”
SAN FRANCISCO, May 29 (Reuters) – As Silicon Valley
scrambles to assess the impact of the Facebook IPO
mess, all eyes are on Square.
The much-heralded, next-generation payments company had been
aiming to raise its next round of venture capital funds at a
valuation of as much as $4 billion – up from $1 billion just a
year ago. That is the sort of acceleration in valuation that
happened with Facebook prior to its public market debut.
Kleiner Perkins partner Ellen Pao has unleashed one of Silicon Valley’s juiciest lawsuits in recent memory, alleging discrimination, harassment, and even an out-of-the-box solution to her woes proposed by a colleague: marriage to her harasser.
But Pao didn’t let this awkward legal situation stop her from stepping out to a couple of parties in Palo Alto Thursday night, just days after news of her lawsuit leaked out. That included one held by her employers at Palo Alto’s Reposado, a busy Mexican restaurant, for some of Kleiner’s start-up companies.
SAN FRANCISCO/NEW YORK (Reuters) – Silicon Valley isn’t quite ready to dump Morgan Stanley over the Facebook IPO fiasco.
It could be said that playing a role in botching the world’s biggest tech initial public offering would be enough to kick its lead banker out of the club, or at least to the curb, but a tarnished image hasn’t necessarily dented Morgan Stanley’s position as a go-to underwriter for Silicon Valley, according to bankers, venture capitalists and start-ups.
May 22 (Reuters) – Kleiner Perkins Caufield & Byers partner
Ellen Pao is suing the venture capital firm for sexual
harassment and discrimination, according to a lawsuit filed
earlier this month in California Superior Court.
Pao, who joined the firm in 2005, alleges that former
Kleiner partner Ajit Nazre made sexual advances to her and
worked to harm her career once she rebuffed him. Nazre didn’t
return a call requesting comment.