LinkedIn reached a valuation of US$8.5 billion on the first day of trading its shares, where its stocks doubled in value within hours of the US stock market's opening. This put social networking site for professional's value at more than 500 times its earnings in 2010 which stood at US$15.4 million.
Iris launched 'Urgent Genius' a new social media content division to produce effective online content to topical issues and trends. It will look to make maximum impact in short time windows for clients such as Sony Ericsson and Adidas.
The Wall Street Journal launched a Scene Asia iPhone app to targeted at providing its readers with easy access to its lifestyle offerings including local restaurant reviews, fashion trends and real estate developments. The app builds on a series of digital and local initiatives by the WSJ, such as the expansion of its iPad app to include a dedicated edition for Asia.
Crispin Proter + Bogusky's Jeff Benjamin was named jury head in the digital category for Spikes Asia. Benjamin is partner and chief creative officer at the company.
Aegis Media appointed John Murray to the newly created role of president of its digital action group, a new initiative that aims to influence the media practice of all firms within the group. He will lead a global team to accelerate the application of digital solutions and knowledge at Aegis Group.
Publicis acquired digital agency Rosetta Group for US$575 million, claiming that the move takes digital to over 30 per cent of its revenues. The new addition brings the group’s digital portfolio to four agencies including Razorfish, Digitas and Publicis Modem.
Media Contacts and Trapper MPG, the digital and media services units of Havas Media respectively, was appointed by Naza Kia Malaysia as the digital AOR for the Kia range of vehicles. The agencies will be responsible for strategic planning, media planning and buying and digital services.
Nokia plans to drop the Ovi brand from its applications store and replace it with Nokia Services. This is in preparation for abandoning its Symbian smartphone operating systems and developing a strategic alliance with Microsoft.
Ogilvy’s Redworks has been appointed as digital marketing counsel for the website launch of Chinese hotel chain Home Inn’s business hotel brand Yitel. The agency will be responsible for the design and production of Yitel’s corporate website, an e-commerce platform, and its digital marketing strategy including branding promotion and customer relationship marketing.
Digital Matters is set to launch in Singapore on 24 to 25 May, featuring a two day showcase of innovation, online content, social media and deeper consumer engagement with digital advertising. The event will explore new opportunities for online content viewing, multimedia strategies and new business models.
Yahoo launched a ‘Yahoo amazing you’ site for Unilever’s flagship brand Vaseline, providing women with an extensive range of online content related to skin care, general beauty, health and lifestyle. With the launch, Vaseline showcases the ways in which it is available in the market as a range of moisturising products and drive better understanding among its users as a moisturisation expert.
The Philippines gained the distinction of being the social networking capital of the world, according to Wall Street 24/7. The list measured social network usage of Facebook, Twitter, LinkedIn and the internet as a percentage of a country’s internet users.