Cameron and Tyler Winklevoss, who have been suing Facebook’s Mark Zuckerberg, have been hit with a lawsuit as well by software developer Wayne Chang saying that he is due a share of the $65 million the twins won in 2008.
A Massachusetts federal judge allowed Chang’s lawsuit to proceed earlier this May, a report from The National Law Journal revealed.
According to reports, Chang says that his peer-to-peer file sharing network was reportedly integrated to the twin’s ConnectU site, …

Facebook claims “no ‘smear’ campaign was authorized or intended”, but the social networking giant admitted on Thursday that it did employ a PR agency to submit negative news articles about Google with the news media.

At first, Facebook did not comment about news stories which emerged this week claiming that an important PR firm, Burston-Marsteller, was hired by Facebook to write negative articles about Google’s Social Circles offering then submit them to several media outlets. But …

MySpace has released a new music application that lets musicians and acts with profiles on MySpace transfer all of their information into their official Facebook page, including videos, photos, biographies, tour dates, and tracks.   MySpace will be competing with other services, like damntheradio and Rootmusic that also offer tools for creating and managing tools in Facebook.

Artists that have a MySpace page have all of their content available in the MySpace system, explained Sam Wick, head …

BranchOut, the career social networking website that taps into a user’s social graph on Facebook to provide networking opportunities and boost chances for jobs and sale leads, today announced it has raised $18 million in funding and also launched a new product called JobsTab.

BranchOut launched in July 2010 and already boasts 300,000  active users every month and total funding of more than $24 million, with this Series B funding which was led by Redpoint ventures, an investment firm that …

Computer security firm Symantec reported this week that Facebook, by granting ‘access tokens’ via its Facebook apps, has exposed the private data of millions of Facebook members to third parties over the last four years.  It is not clear how many Facebook members may have had their privacy invaded because many or most third parties may not have been aware of the flaw.

Symantec alerted Facebook to the problem and the social networking giant, which has come under severe criticism over …

Nishant Doshi of Symantec, the maker of Norton security suite, revealed that Facebook may have left a way for third-party firms to potentially access account data of users even when they are offline.
“Third parties, in particular advertisers, have accidentally had access to Facebook users’ accounts including profiles, photographs, chat, and also had the ability to post messages and mine personal information,” wrote Doshi in a blog post dated May 10 on the Symantec site.
According to …

Professional networking website LinkedIn said it now expects to raise up to $274 million in its initial public offering (IPO) a substantial increase from $175m it previously reported in its S-1 filing with the Securities and Exchange Commission.

LinkedIn could reach a $3.3 billion valuation at the midpoint when it offers 7.84 million shares for between $32-$35 each on the New York Stock Exchange (NYSE).  LinkedIn is expected to start trading on the NYSE this month under the symbol …

People who wish to use Facebook must be at least 13 years old, according to Facebook’s terms of service (TOS), but a new report published in Consumer Reports claims that out of the 20 million minors that use the social networking website, 7.5 million members are younger than age 13, and 5 million are younger than age 10.

Facebook issued a statement prior to the release of the report explaining that it is extremely difficult to impose age restriction on the internet and there is no one way to …

A study by the Pew Research Center today said that up to 8 percent of traffic to the most popular news sites comes from Facebook, which is also one of the primary websites a surfer returns to after reading the news.
 
Pew’s Project for Excellence in Journalism concluded in its study that while searching for news was the most significant development over the last ten years, sharing the news may be the most important development over the next ten years.  “Google and Facebook are …

The rapid growth of social media like Facebook and Twitter over the past few years  have given law enforcement officials around the world powerful new tools to discover criminal activities and track down law breakers.

The United States, Singapore, and other countries are using these websites to detect illegal activity. For example, in Singapore, a pastor in the Lighthouse Evangelism Church posted his sermons on his Facebook page. Authorities decided that the sermon was sensitive and three …