Hopes to increase mobile revenues
Facebook has added the ability to buy presents for other users of the social network. Facebook Gifts, created following the purchase of mobile social gifting service Karma back in May, allows for the buying of physical gifts for other Facebook users, without needing to know where the gift recipient lives.
Hotspots grant public access and give owners credit
Startup company Karma is creating a service offering pay-as-you-go 4G wireless hotspots with a social element. The unit will charge by the gigabyte, but in a move similar to Fon, will be open to public use, according to The Verge. Users without an account accessing it gets 100mb of free service and also credits the hotspot owner by an equal amount.
Terms of buyout remain unclear
Facebook's initial public offering remained the biggest story in tech throughout the day, overshadowing the social network's latest acquisition, Karma, a company that specializes in mobile social gifting. The startup has developed an e-commerce platform that enables mobile users to quickly find gifts, select a personalized card, and notify the recipient via text message, e-mail or Facebook.