Technology News
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Facebook Inc., the social networking site that raised $16 billion in an initial public offering, fell below its $38 offer price in its second trading day.
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Google Inc. was told by the European Union’s antitrust chief it has a “matter of weeks” to resolve a probe and avoid possible fines over allegations that the operator of the world’s largest search engine discriminates against rivals.
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Alibaba Group Holding Ltd., China’s largest e-commerce provider, agreed to repurchase about a 20 percent stake in itself from U.S. Web portal Yahoo! Inc. for about $7.1 billion ahead of a potential initial public offering.
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Facebook Inc.’s initial public offering is poised to create some 850 new millionaires, spawning a new class of angel investors looking to help other startups build on the popularity of the biggest social network.
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