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Facebook posts $59m net loss in Q3

Facebook records Q3 loss depite improvements in mobile advertising and usage

Social networking site Facebook has posted a $59m net loss for 3Q12, which it has attributed to high taxation. The loss was made despite revenue increasing by 32 per cent year on year from $954m to $1.26bn, as the firm stepped up its efforts in mobile advertising.

Zynga files for IPO, says its future is mobile

Social gaming firm Zynga has filed for an IPO in the US

Social gaming giant Zynga has filed for its much-anticipated initial public offering in the US. While the company has yet to put a price tag on the shares, as part of the process of calculating its registration fees with the Securities and Exchange Commission (SEC), Zynga has estimated it will raise $1bn from the sale.

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