In Its First Acquisition as a Public Company, Facebook Buys Social Gifting App Karma

Facebook apparently figured out what to do with its newfound cash injection.
Karma

Karma: A Social Shopping App That’s Actually Social

Breakout commerce sites like Fab.com seem to be about personal splurges. What about extending that serendipitous shopping to gifting? That’s what Karma, a new app for iOS and Android, is doing.
Karma

Your Karma Ran Over My Tesla

Tesla Motors has lost its Sturm und Drang race with Fisker Coachbuild. On Monday, an arbitrator ruled that Fisker did nothing untoward by introducing an electric-powered luxury sports car after doing some design work for Tesla.

Dear Web 2.0: You Might Want to Stop Believin'

All in good fun, right? I am sure this will be the dumb-as-a-box-of-hammers reasoning this group of Web 2.0 folks gives for this odd video effort, doing a lip-synch romp on their group vacation in Cyprus to Journey’s “Don’t Stop Believin’,” and then posting it for all to see on Vimeo. It is titled: “Twenty world Internet citizens met in the Turkish Republic of Northern Cyprus in October of 2008 for a week of reflections on life, love, and the Internet.” Um, kids, here’s a reflection: While you swim in that pricey infinity pool in your luxury villa, Silicon Valley is tanking all over the place. You might want to check your email and see if Sequoia Capital or Ron Conway has cost-cutted you out of a job!