Social Media

Hootsuite, a provider of software to manage social media on a global scale and one of Canada's most valuable tech startups, hinted on Thursday it may move up its timeline on a initial public offering in light of the success of fellow Canadian startup Shopify.

Microsoft Corp.'s former chief executive, Steve Ballmer, said on Friday that he owns 4% of Twitter Inc., a surprise revelation that makes him one of the social media company's top investors.

On paper, Twitter 's earnings report was just fine.

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A report claiming that Twitter Inc received an offer to be acquired for $31 billion attributed to Bloomberg LP is fake, Twitter and a spokesman for the news and financial data provider said on Tuesday.

So much for that brief Twitter Inc. rally. The micro-blogging site dropped below its initial public offering price for the first time ever Thursday.

Instagram now has more than 400 million users, the company announced Tuesday, making it far larger than rival Twitter Inc with 100 million more users.

LinkedIn Corp. reported a wider third-quarter loss reflecting higher expenses as the professional network retools its business—but shares climbed after hours as revenue and adjusted profit topped Wall Street's expectations.

The 4Q revenue forecast of $695 to $710 million, which is below the Thomson Reuters estimate of $739.73, pushed shares down over 10% after hours.

Twitter Inc (NYSE:TWTR) is planning company-wide layoffs next week, technology news website Re/code reported on Friday, citing sources.

LinkedIn Corp. agreed to pay $13 million to settle a class-action lawsuit over sending email solicitations to its members contacts without permission. Social networking manners apply even to social networking companies, it seems.

The social media giant's EPS of 57 cents topped estimates for 52 cents. Revenue of $4.5 billion beat Wall Street views for $4.37 billion.

Apple CEO Tim Cook says the company has 15 million users on its streaming-music service, including 6.5 million paying subscribers.

The social-media giant said Tuesday morning it will reduce its workforce by about 336 employees, or 8%. The decision pushed shares of the company up about 2% in pre-market trade.