Zuckerberg loses $5.9 billion in a day as Facebook faces rare outage, whisteblower testimony

Investor confidence in Facebook weakened a bit on Monday amid continued political pressure and a rare lengthy outage of the company’s apps, sendings shares down 4.8% and zapping away billions from CEO Mark Zuckerberg’s fortune. Zuckerberg’s fortune declined by $5.9 billion to a mere $117 billion in total. (He’s now the world’s sixth richest person.) Top […]

Zoom shares drop 6% as Facebook rolls out free video calls for up to 50 people

Zoom shares closed 6% lower Friday after Facebook announced it was rolling out new video chatting features.  Some investors particularly view Facebook’s new Messenger Room, which allows users to host video calls of up to 50 people, as a threat to Zoom. Zoom has been on a tear since stay-at-home mandates were implemented to slow the Covid-19 pandemic. Zoom CEO […]

Oprah Winfrey to headline Facebook’s virtual graduation as commencement speaker

Oprah Winfrey will be everyone’s graduation speaker this year, thanks to Facebook. The tech giant on Tuesday announced that it will host a virtual graduation ceremony for college seniors unable to partake in a traditional ceremony due to coronavirus. On May 15, starting at 11 a.m. ET, Facebook will begin a multi-hour streaming event on Facebook Watch […]