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THE NEWS WRAP: Facebook COO Sandberg apologises for News Feed experiment

Thursday, 3 July 2014 | By Kye White

Facebook chief operating officer Sheryl Sandberg says the company never meant to upset its users after an experiment on nearly 700,000 of them was reported recently.


“This was part of ongoing research companies do to test different products, and that was what it was, it was poorly communicated,” she told The Wall Street Journal.


“And for that communication we apologise. We never meant to upset you.”


Facebook acquires LiveRail


The social media giant has just bought video advertising technology startup LiveRail.


LiveRail connects marketers to publishers on the web and mobile to target 7 billion video ads to visitors per month.


According to TechCrunch sources Facebook paid between $400 and $500 million for the company.


Facebook and LiveRail will share data in order to improve their respective ad targeting.


Tim Draper lone winner of Silk Road bitcoin auction


Investor Tim Draper has bought 29,655 bitcoins from the US government’s Silk Road bitcoin auction.


The government seized the bitcoins following the closure of the Silk Road online marketplace.




The Dow Jones Industrial Average is up 20.17 to 16,976.24. The Australian dollar is currently trading at US94 cents.