Today in Tech: How Facebook's millionaires will change Valley real estate

February 9, 2012: 6:25 AM ET

Fortune's curated selection of tech stories from the last 24 hours. Sign up to get the round-up delivered to you each and every day.

* Silicon Valley real estate prices are already on the rise, but given Facebook's impending IPO, expect them to go even higher. Case in point: 10 Palo Alto homes sold last month above their asking price. (The New York Times)

Yahoo CEO Scott Thompson

* Yahoo CEO Scott Thompson wants to steer the struggling Internet company away from revenues derived from web sites and advertising towards sales from fees and commissions. Thompson however hasn't yet given more details. (The Wall Street Journal)

* Groupon's (GRPN) first quarterly earnings report proved surprising. Though revenues beat analyst expectations with $506 million, net income was way off: 2 cents a share net loss versus the predicted 3 cents a share profit. As a consequence, company shares tumbled more than 10% after hours (Tech Trader Daily)

* If you aren't already familiar with the term "collaborative consumption," here's a primer. (Hint: startups like Airbnb are predicated on the theory.) (Mashable)

* How AOL (aka "Facebook 1.0") apparently blew its lead. (The Wall Street Journal)

* Tech blog GigaOm is acquiring the media site paidContent. (TechCrunch)

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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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