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Zuckerberg sees 'positive' force of Facebook despite firestorm
by Staff Writers
San Francisco (AFP) Feb 4, 2019

Workplace messaging startup Slack to go public
Washington (AFP) Feb 4, 2019 - Workplace messaging startup Slack said Monday it had filed a confidential registration for an initial public offering, becoming the latest of a group of richly valued tech enterprises to look to Wall Street.

California-based Slack's filing comes under a special provision of securities laws enabling startups to begin the IPO process without disclosing details of their financing.

The statement offered no information on the date or amount of money expected to be raised. Some reports say Slack will use the direct listing, a method used by Spotify, that allows insiders to sell existing shares without issuing new stock, streamlining the IPO process and avoiding big investment banking fees.

Slack, which claims some 10 million users in 150 countries, has raised more than $1 billion from investors with the latest valuing the company at $7.1 billion, making it one of the most richly valued "unicorns" -- startups with private funding worth at least $1 billion.

Slack, which offers real-time messaging for the workplace, is used to help improve communication and help companies get around email overload. It offers free services for small teams and paid plans with additional options.

Created in 2013, Slack has been a leader in the new segment but faces competition from the likes of Microsoft, Facebook and others offering workplace collaboration tools.

Analysts say Slack has found a niche, especially among small- and medium-sized businesses.

Other richly valued unicorns aiming for an IPO in 2019 include ridesharing giants Uber and Lyft, and lodging startup Airbnb. Other potential IPOs in the sector include the social platform Pinterest and coworking sector leader WeWork.

Slack's CEO and founder Stewart Butterfield was part of the team that started the photo-sharing service Flickr.

Mark Zuckerberg said Monday he sees Facebook as a largely "positive" force for society as the embattled social network marked its 15th anniversary.

Even as Facebook is facing a wave of criticism over issues of manipulation, misinformation, abuse and other social ills, Zuckerberg said it would be a mistake "to overly emphasize the negative" impacts of social media and the internet.

The Facebook co-founder and chief executive said he sees profound social changes "as networks of people connected via the internet replace traditional hierarchies and reshape institutions from government to business to media."

In a post on his Facebook page, he argued that "while any rapid social change creates uncertainty, I believe what we're seeing is people having more power, and a long term trend reshaping society to be more open and accountable over time."

He said Facebook and other social networks have fundamentally changed how people interact with their communities and institutions.

"I'll never forget how right after we launched News Feed, we saw millions of people organize marches against violence in Colombia. We saw communities come together to do viral fundraiser," he wrote.

Zuckerberg added: "If the last 15 years were about people building these new networks and starting to see their impact, then the next 15 years will be about people using their power to remake society in ways that have the potential to be profoundly positive for decades to come."

Facebook has seen unprecedented success by amassing more than 2.3 billion people worldwide who actively use the social network to share updates, obtain information and connect with new people.

Despite the wave of scandals, Facebook took in a record $22 billion profit for 2018 as revenues surged to $55 billion.

Zuckerberg has acknowledged that Facebook needs to do more to restore trust, and ferret out misinformation and abuse, and on Monday repeated his pledge to spend more "on safety and security."

His comments come 15 years after he and classmates at Harvard University founded what was known as "the facebook" and began a mission described by Zuckerberg as connecting the world.

gc/rl

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European telecoms' dilemma: Huawei or the highway?
Paris (AFP) Feb 3, 2019
It's a dilemma for European telecoms firms: Should they steal a march on competitors and rapidly roll out next-generation 5G mobile networks using equipment from top supplier Huawei? Or should they heed US-led warnings of security threats and sit tight, and possibly fall behind? Getting it right will have big consequences as 5G networks are the next milestone in the digital revolution, bringing near-instantaneous connectivity, vast data capacity and futuristic technologies. No operator wants to ... read more

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