The 10 Biggest Developments in Social Media This Week

By WireINPUT -
Welcome to this week’s edition of “What’s Hot in Social Media,” a series in which we revisit the week’s most popular stories concerning social networks.

We’re keeping our eye on 10 interesting developments this Thursday.

WikiLeaks To Release Secret Swiss Bank Account Info

Swiss whistle-blower and retired banker Rudolf Elmer has given WikiLeaks details concerning the bank accounts of more than 2,000 prominent individuals. The information may contain evidence of tax evasion.

Facebook Halts Phone and Address Sharing (For Now)

Following widespread displeasure over its recent decision to allow application developers to request access to a user’s address and mobile phone number, Facebook (Facebook) has decided to temporarily disable this feature until it implements changes that will help users make better informed decisions about their privacy.

Social Networks To Capture 11% of Online Ad Spending in 2011

U.S. marketers will spend $3.08 billion to advertise on social networking sites this year, much of which will go to Facebook, according to eMarketer. Facebook generated $1.86 billion in advertising in 2010, the firm estimates.

Facebook Launches New Mobile App for Feature Phones

Facebook has released a new mobile application designed specifically for feature phones. It will give users access to Facebook messages, events, pictures, news feeds, profiles and more.

Twitter Launches in Korean

Twitter (Twitter) has launched the Korean version of its popular service, bringing the total of supported languages to seven.

Goldman Sachs Excludes U.S. Clients From Investing in Facebook

Goldman Sachs’s U.S. clients will not be able to buy shares of Facebook via the company’s private placement deal, the financial services firm announced Monday.

Cheezburger Network Scores $30 Million in Funding

The Cheezburger Network, an Internet (Internet) publisher known for popular memes like LOLcats and FAILS, has just scored a $30 million Series A led by Foundry Group, with participation from Madrona Venture Group, Avalon Ventures, and SoftBank Capital as well.

LivingSocial Smashes Sales Records With Amazon Offer

Group buying site LivingSocial ran its biggest promotion yet Wednesday: a $20 Amazon gift card for $10. More than 1.3 million people purchased the voucher, generating approximately $13 million in gross sales.

Tumblr Sending Bloggers to New York Fashion Week

Tumblr (Tumblr) is sponsoring more than 20 bloggers at New York Fashion Week next month.

First Kickstarter-Funded Film Headed to Sundance

Matthew Lessner’s utopian, tongue-in-cheek film The Woods, the creation of which was partially funded by fundraising platform Kickstarter, is heading to the Sundance Film Festival.

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