Social Network Newsbeat: Facebook Inc (FB), EFactor Group Corp (EFCT), LinkedIn Corp (LNKD)

Facebook Inc (NASDAQ:FB) has started rolling out Instagram advertisements in Canada, according to an article on The Star. Canada becomes one of the few markets in which Facebook Inc (NASDAQ:FB) has launched Instagram ads. The company first launched the service in the U.S. and then moved to the U.K. and Australia. According to Facebook’s strategist, Helen Pak, they have always had big dreams for Instagram and one of such dreams, it seems, is making the platform sustainable.

Facebook Inc (NASDAQ:FB) signed Instagram for $1 billion back in 2012 and has seen its user-number almost double to over 200 million. The showing of ads on Instagram is clearly an effort to monetize the platform with the hope of recouping the massive investment that went into its acquisition.

In Canada, six companies that include Air Canada, Mercedes-Benz and Travel Alberta will be among the first to promote on the platform. The others making the first move into the teen-rich platform are Target, Hudson’s Bay and Sport Chek. Pak said that they had ensured that ads on Instagram do not alter or adversely impact the experience of users.

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EFactor Group Corp (OTCMKTS:EFCT) entered into a strategic partnership with Netherlands-based FreedomLab B.V. in which the niche social network will benefit from innovative solutions to grow its user-base. The entrepreneur-focused social network provider boasts 1.3 million users but it believes it has a potential to significantly grow that number.

FreedomLab will gain a minority equity stake in EFactor Group Corp (OTCMKTS:EFCT) as part of the compensation for the deal, according to a press release published on Baystreet.ca website. Both companies have confidence in the long-term view of the partnership.

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LinkedIn Corp (NYSE:LNKD) has scheduled a fundraiser in which the company could end up tapping $1.15 billion through the sale of convertible notes. Concerning the fundraiser, Zacks stated in an article on its website that LinkedIn had entered into hedge transactions in efforts to limit the dilutive impact of the notes when converted.

LinkedIn Corp (NYSE:LNKD) seeks funds to bankroll its general corporate activities. The company social network provider is trying to boost its revenue through the launch of new and popular products. It also needs to enrich its platform because rivals Facebook Inc (NASDAQ:FB) and Twitter Inc (NYSE:TWTR) are also pushing into the professional field.

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About the Author

Barry is a senior journalist at Us Markets Daily. He reports, shoots and edits many of his own stories by himself.

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