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Facebook Bumps Up Amount of IPO Shares Offered By 25 Percent

Facebook is bumping up the number of shares in its initial public offering by nearly 25 percent, pushing the total amount to more than 420 million shares. The increase means the company may end up raising $16 billion on Friday.

News Byte

Quote-Saving App Banters to Shut Down; Founders Jump to Betaworks

After struggling to attract a significant user base over the past year, conversation-saving app Banters is closing up shop, co-founder Lauren Leto announced via company blog on Tuesday. Leto and partner Patrick Moberg had raised an undisclosed amount of seed funding from the likes of Chris Dixon, Khosla Ventures and SV Angel. The two will join Betaworks — Leto as general manager of the firm’s Findings product and Moberg as a “hacker-in-residence.”

Voices

GM to Stop Advertising on Facebook

General Motors Co. plans to stop advertising on Facebook after the company’s marketing executives determined their paid ads had little impact on consumers, people familiar with the matter said — a move that comes as more companies question the effectiveness of advertising on the social networking site.

Google Says Forced “Sharing” Is a Bug, Not a Feature

No, you don’t have to spam that AdWeek story to your pals before you read it. But somebody’s gotta pay something for this stuff, someday.
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Facebook “Acqhires” Mobile Photo-Sharing Company Lightbox

Yet another acquisition before Facebook goes public.
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News Byte

Social Analytics Start-Up Prosodic Launches With $1.4 Million in Seed Funding

Software platform and social analytics firm Prosodic announced Tuesday it had completed a $1.4 million round of seed funding at its official launch. Investors in the round include Ignition Partners and angels Gary Vaynerchuk and David Remer of Remer Inc. The company is a predictive analytics service, informing its corporate and media customers what content should be shared with targeted audiences and how often.

News Byte

Cannes Ad Conference Roars for Twitter’s Jack Dorsey

The Cannes Lions, the people who put on a giant advertising trade show every year in France, have named Twitter’s Jack Dorsey as their “Media Person of The Year.” The honorific comes as Twitter has begun ramping up its ad-selling efforts. For context: Previous winners include Google’s Eric Schmidt and Facebook’s Mark Zuckerberg.

Interview: Imgur’s Path to a Billion Image Views Per Day

A benevolent attitude and an informal alignment with Reddit have helped Imgur stand out in the commodity business of image hosting.
Imgur COO Matt Strader and founder Alan Schaaf

Farms Begin to Wither as Strategy and Combat Drive Social Gaming

According to SuperData, strategy and combat games are starting to perform better than traditional farming games.
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Facebook’s Latest S-1 Amendment Confirms Increased Share Price Range

Another day, another amendment. This marks the seventh for Facebook in three months.
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