The Chinese Internet giant, in which South Africa’s Naspers holds a 31.2% stake, has tumbled 25% from its January peak, erasing about $140-billion of market value.
When it comes to digital privacy, there are plenty of organisations making money out of using your data. But what if you were the one making the money?
Facebook has always had one absolute leader, cemented by a share class structure that maintained Mark Zuckerberg’s voting control even when he sold millions of shares. Some investors want change.
Cell C appears to be stepping up to try to take market share from rival MTN by appealing to consumers hungry for cheap access to social media platforms.
Facebook has racked up plenty of milestones in its pioneering journey. Now the social media giant is poised to add one it would doubtless rather avoid: the biggest stock market wipe-out in American history.