How Snapchat turned down Facebook’s $3B takeover offer
By Bloomberg
17 February 2018 |
5:00 am
How Snapchat turned down Facebook's $3B takeover offer.
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Shares in Facebook slumped by almost five percent on Wall Street on Monday after its services – including Instagram and WhatsApp – were knocked offline for several hours by a technical problem. Technology shares in general saw a selloff too, including Facebook's rivals like Twitter. Around $6 billion was wiped off the personal fortune of CEO Mark Zuckerberg. Also today, oil prices have jumped after the latest decision by OPEC and its allies not to increase supplies at a faster pace.
5 Oct 2021
Facebook faced a large-scale outage of its dominant social network for seven hours. An IT security expert says "it didn't appear that Facebook thought through this kind of a situation."
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Without access to social media, many users felt lost. Their explanations for the technical glitch ranged from wild conspiracy theories to the not-too-far-fetched concern that governments could be blocking the platforms.
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What did the planet learn from six hours without Facebook, WhatsApp and Instagram? The glitch triggered by an update on servers went on long enough to remind us how much we put our lives in the hands of a single social media behemoth. It was a chance to realise that we depend on Facebook for everything from private messages to real-time business communications and even payments. Livelihoods depend on it.
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In recent days, two former African presidents have been the targets of fake news. In DR Congo, a photo of Joseph Kabila has been circulating with the claim he stood alongside the former head of the rebel group ADF, which has links with the Islamic State group. Another video, meanwhile, purports to show a crowd of supporters of Alpha Condé gathering in Paris... although the man they are shouting in support of is not the ousted Guinean president and it wasn't filmed in Paris at all.
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Following revelations by whistleblower Frances Haugen and a global outage, the US company faces renewed scrutiny. It could mark a tipping point and prompt lawmakers to get tough on the tech giant.
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