Facebook Inc (NASDAQ:FB) is one social networking giant that does not stop changing. The company recently announced that it has been working on adding a new feature, called Instant Article. The new feature would allow users to read the content of an article, without leaving the social site. Additionally, the company has also been trying to deal with the recent defraud cases against its CEO and Founder Mark Zuckerberg.
To enable Instant Article on Facebook, the company has been in talks with a number of publishers. As per the deals, Facebook would serve as the host for these publications, while the publishers would pay 30% of ad-revenues of those articles to the company. What Facebook is trying to do here is that it plans to enhance user experience, while making profits through ad-placements.
Currently, the talks are going through a rough patch, as the publishers are concerned about the amount of control Facebook will have over them. Some publishers, who are already working with Facebook, have voiced concerns that they would be left with almost no control as per the new deals. Additionally, Facebook plans to get an in-app search engine, so users can easily look for the articles they want. The two new features are already in the testing phase and Facebook just needs support from the publishers to go ahead.
Meanwhile, Facebook has also decided to file a lawsuit against the legal firms that were involved in the defamation of Mark Zuckerberg. Paul Ceglia, had filed a defraud case against the company’s founder and was assisted by a few legal firms. However, when the court ruled against him, he managed to escape. Mr. Ceglia did this by using forged documents, but the company does not want the fugitive found. They want the legal firms to pay the price.
Facebook Inc (NASDAQ:FB) closed at$77.46, after losing 0.71% on May 12. The company has 2.25 billion shares being traded in the market, with a 52-week range of $57.31-$86.07.
