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Over the past several years, many of the world's largest brands have increasingly looked to establish better relationships with consumers by investing heavily in social media.
Now, some of the biggest names in software are investing heavily in startups built to help brands manage their social media initiatives.
What's cooler than spending $1bn on a mobile photo sharing app?
The answer: spending $1bn on a mobile photo service and then launching your own mobile photo sharing app service weeks later.
It's been a rough week for the world's most prominent social networking company, Facebook, and the week isn't over yet, but that doesn't mean that social media is going away any time soon.
That explains why software giant Oracle has purchased cloud-based social marketing platform provider Vitrue.
How committed? According to venture capitalist Fred Wilson of Union Square Ventures, which owns a stake in Twitter, Google's passed up the opportunity to buy the popular microblogging social network several years ago.
The resignation/termination of now-formerly new Yahoo CEO Scott Thompson amid a resume scandal was an embarrassing moment for the once-great internet giant.
For most companies, such a collosal blunder would represent a faux pas of the highest order, but that's not the case for Yahoo, it's just one more in a long line of mistakes.
Here are the ten biggest mistakes the company has made...
What does a single app that generates 20m downloads and $100,000 per day in revenue in five weeks? In the case of OMGPOP, the maker of the hit app Draw Something, it apparently gets you acquired in week six.
Today, social gaming giant Zynga announced that it has acquired OMGPOP.
Twitter has raised hundreds of millions of dollars in funding, and yesterday it apparently put some of that money to use in making what might be its most prominent, if not largest, acquisition yet.
What did Twitter buy? Short-form blogging site Posterous.
The next big (read: nine-figure) consumer internet acquisition may involve an unexpected buyer - CNN.
According to Reuters' Felix Salmon, the Time Warner-owned cable news network could announce as early as Tuesday that it is acquiring Mashable, one of the most popular tech/social media blogs for a figure that could be north of $200m.
What do prepaid debit cards and location-based services (LBS) have in common? If a company called Green Dot is right, the answer is 'a lot more than you might think.'
The company, which is a major player in the prepaid debit card space, today announced that it has acquired mobile LBS startup Loopt for $43.4m in cash.
It was the best of times, it was the worst of times. That may very well describe 2012 for media companies.
As detailed in Econsultancy's 2012 Media Growth Trends report companies are optimistic about what they can accomplish this year, but they also face numerous challenges - the least of which is the prospect of deeper economic pain in Europe.
It turned out to be a blessing in disguise for Microsoft. The economy, along with the stock market, tanked later in the year, saving Microsoft from what could have gone down as one of the worst timed deals in M&A history.
And despite the stock market's rebound over the past several years, Yahoo is still valued at well under half of what Microsoft was willing to pay in 2008.
M&A is back in full-force in the consumer internet space, but this time around, it's not just the usual suspects -- tech companies -- doing the buying.
Case in point: yesterday, Walmart announced that it is buying social media company Kosmix. Founded in 2005, the company, which raised $55m in investment over the years, "filters social media to connect you to content that interests."