Today in Tech: Facebook raises $1.5 billion, Android flagship tablet gets date

January 24, 2011: 6:00 AM ET

A curated selection of the weekend's most newsworthy tech stories from all over the Web.

"It's a complete work of fiction. There are no Victoria's Secret models in Silicon Valley ... I kind of wish my life were that cool." -- Former Facebook president Sean Parker on Justin Timberlake's portrayal of him in The Social Network (Reuters)

  • Facebook issued a rare press release confirming it had raised $1 billion from investors in a deal arranged by Goldman Sachs Group that values the social network champ at $50 billion. "DST and Goldman Sachs approached Facebook to express their interest in making an investment, and Facebook decided it was an attractive opportunity to bolster its cash reserves and increase its financial flexibility with limited dilution to existing shareholders," the statement read. "There are no immediate plans for these funds. Facebook will continue investing to build and expand its operations." Also notable: a reference to when it expects to start filing public financial reports and potentially go public (ie. by April 30, 2012). (Facebook)
  • Apple hired security expert David Rice as its director of global security, who starts in March. Though his duties haven't been publicly disclosed, it's possible he'll be involved with the push for iPhones and iPad in the enterprise sector. (AllThingsD)
  • TechCrunch Disrupt winner Qwiki, the visual search startup that Facebook co-founder Eduardo Saverin invested in recently, hit no. 1 on Google Trends' "Hot Searches" in the U.S. To check out what all the fuss is about, request a private alpha invite here. (TechCrunch and Qwiki)
  • For all your hardware spec-fiends, a little morsel regarding Nvidia's Tegra 2 3D processor: it'll be based on a Dual Cortex A9 clocked at speeds up to 1.2 GHz, offering 5520 MIPS of performance. Looking for it some during the first quarter. (TechEYE)
  • Early Saturday, Apple officially crossed the 10 billion mark for app downloads. The milestone comes roughly two-and-a-half years since its July 2008 launch. (Fortune)
  • Motorola Xoom. Photo: Motorola

    Psyched for Motorola's beast of an Android tablet? You won't have to wait much longer, at least if the latest rumors are to be believed. According to a rumored Best Buy sheet, the Xoom could hit as soon as February 17 for anywhere between $699 to $799. As Fortune reported over the weekend, the 10.1-inch tablet will offer a 1 GHz dual-core Tegra 2 processor, 32 GB of storage, a 1280 x 800 resolution screen, 5-megapixel camera, 720p video recording, 1080p video playback, and 10-plus hours of battery life between charges not unlike the iPad. Initial units will run 3G via Verizon while subsequent versions coming later this year will offer 4G connectivity. (Fortune)

  • Facebook's first ad sales head, Mike Murphy, is taking a part-time role with social game-maker Zynga to help the company figure out an ad strategy of its own. Duties will also include supervising team growth, advertising products and creating new relationships with top brands. (AllThingsD)
  • Here's some rare insight into Apple COO Tim Cook from the man himself. Earlier this year, the Auburn alum gave the class commencement speech, focusing on his decision to leave Compaq for Apple in 1998. (9 to 5 Mac)

Update: In an earlier version, we stated Apple crossed the "10 million" mark. Rather, it should have read "10 billion." We regret the error.

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About This Author
JP Mangalindan
JP Mangalindan
Writer, Fortune

JP Mangalindan is a San Francisco-based writer at Fortune, covering Silicon Valley. Since joining in 2010, he has written on a wide array of topics, from the turnaround of eBay to the evolution of net neutrality. A graduate of Fordham University, Mangalindan has also written for GQ, Popular Science, and Entertainment Weekly.

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