Today in Tech: MySpace layoffs, Facebook worth $50 billion?

January 3, 2011: 6:00 AM ET

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

  • The Vizion Phone. Photo: Vizio via Wall Street JournalCheap flat-panel maker Vizio intends to make a splash today by unveiling two notable products that marks a company first: the Via Phone with a 4-inch screen, front-facing camera for video calls, and a 5 megapixel rear cam, as well as the Via Tablet, sporting a 8-inch high-res screen, WiFi (of course), three speakers, and a front-facing cam. Both will run Android and launch this summer. (Wall Street Journal)
  • MySpace could reportedly lay off as many as 50%, or 550, of its staff as both a cost-cutting measure and part of a way to restructure the struggling social networking site-turned-entertainment hub. (AllThingsD)
  • Meanwhile on the Facebook front, the booming social networking champ raised $500 million from Goldman Sachs and a Russian investor that puts its valuation somewhere in the ballpark of a whopping $50 billion, which would be more than eBay, Yahoo, and Time Warner are worth. Facebook also reportedly chose its new office digs:  the former Sun Microsystems-Oracle campus in Menlo Park, California, which ought to provide more room than the 150,000 square-foot space the company moved into just two years ago. (New York Times and TechCrunch) More
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by VIP.