With the world's biggest automaker General Motors (GM) having recently announced its decision to `unfriend' Facebook because it feels that Facebook ads are apparently not effective in converting the social network's users into customers, analysts are of the opinion that the GM defection will make its harder for Facebook to make a bull case for revenue growth.

The GM decision to discontinue its Facebook advertising comes at a time when the social network is coming up with its initial public offering (IPO), which will help the company raise nearly $16 billion.

A routine General Motors' (GM) review of `how' and `where' the automaker spends its marketing dollars has, according to the information shared by GM spokesman Tom Henderson, prompted the bigwig auto company to decided against advertising on Facebook social network.

With the routine review apparently revealing that GM's $10 million annual spending on Facebook advertising was having hardly any impact on consumers, the automaker - which incidentally is the third-ranking advertiser in the US
- had decided to discontinue its Facebook ads.

According to two late-Monday reports, from the Wall Street Journal (WSJ) and Reuters respectively, Facebook will most likely raise the target price range of its shares for its forthcoming initial public offering (IPO).

While Facebook has set its stock's target price range as between $28 and $35 per share earlier this month, the strong demand from investors for the company's shares has apparently prompted the popular social network to increase the price range to between $34 and $38 per share.

According to a recent announcement by Facebook, the company is working towards opening its own app store - the App center - in the coming weeks; thereby facilitating its users in finding Facebook apps, mobile apps, and Web apps.

With the central app store chiefly aimed at making it easier for the users to find apps, Facebook - which is coming up with its initial public offering of stock later this month - is already asking the developers to submit their apps so that they can be included in the App Center when it is launched.

In a significant announcement on Wednesday, popular social network Facebook said that it is finally coming up with its app store or catalogue of sorts - dubbed the App Center - in the coming weeks.

Describing the App Center announcement as a call to the developers to get ready to submit the apps which they want Facebook to feature, the social network's spokeswoman Malorie Lucich said that the App Center has chiefly been designed with the aim of pushing the best social apps via a personalized discovery page.

With Facebook's May 18-scheduled initial public offering (IPO) of its stock on the NASDAQ round the corner, the social network has hit the road this week, with its IPO `road show', in an attempt to entice investors ahead of its forthcoming stock offering.

In an evident move to build up enthusiasm for Facebook's initial public offering (IPO), which could bump up the value of the popular social network to a whopping $96 billion, CEO Mark Zuckerberg kicked off the company's cross-country IPO road show in New York City on Monday.

The event at New York's Sheraton Hotel was heavily attended by prospective investors - though it was closed to the media - who had gathered at the hotel's ballroom to hear Zuckerberg, 27, pitch Facebook's eagerly-anticipated billion-dollar IPO.

In the court papers filed in the federal court in San Jose on Friday, Yahoo has leveled new accusations of intellectual property theft against Facebook, in its lawsuit filed against the social network six weeks back.

Claiming that the popular Facebook social network infringes 12, instead of the earlier-mentioned 10, of Yahoo's Internet patents, Yahoo also said in the Friday filing that Facebook had violated a deal between the two companies about notifying each other of the probable patent infringements before taking any legal action.

According to Facebook's amended S1 registration with the Securities and Exchange Commission (SEC) on Monday, the popular social network reported its first quarter-over-quarter plunge in advertising revenue in at least two years; with the company's $1.06 billion revenue for the 2012 first quarter marking a 6 percent drop from its 2011 fourth-quarter revenue figures.

In an exclusive interview published in the U. K.'s Guardian newspaper on Sunday, Google co-founder Sergey Brin said that the Web environment had become ‘restrictive’ in the present times; and added that it was essentially the ‘Open Web’ of the past which had facilitated the creation of the Google search engine.

Revealing its standpoint in the ongoing debate over the Cyber Intelligence Sharing and Protection Act (CISPA), social networking giant Facebook said in a recent blog post that it supports certain aspects of the proposed legislation, and it wants to work with the lawmakers to ensure that the privacy concerns about the bill are duly addressed.

Instagram, the popular photo-sharing mobile app, has been quite a craze among the photo-sharing enthusiasts as it is essentially a social network built around modifying photos --- more like a photos-centered Facebook!

Instagram - which social networking giant Facebook has recently acquired in a whopping $1 billion cash and stock deal - is actually about much more than doctored up photos shared by the users; and has witnessed a meteoric rise in usage ever since it was launched two years back by its co-founder and CEO Kevin Systrom.

In a Monday announcement, popular social network Facebook said that it intends acquiring San Francisco-based Internet start-up Instagram in a $1 billion cash and stock deal, which will mark the company's biggest acquisition thus far.

Facebook's acquisition of Instagram will primarily make the social network's position much stronger on the mobile-devices front, as Instagram is basically a photography-centric social network which offers mobile apps that enable users to add a peculiar effect to their smartphone pictures and share them with friends.

In an amendment made to its initial public offering (IPO) paperwork with the US Securities and Exchange Commission (SEC), Facebook has cautioned prospective investors about a patent lawsuit which Internet pioneer Yahoo has filed against the social network, and which can severely hit Facebook's business.

In an official disclosure on Sunday, the offices of two Democratic Senators, Charles E. Schumer of New York and Richard Blumenthal of Connecticut, revealed that the senators have asked Attorney General Eric Holder to initiate an investigation into whether the employers' demand for the Facebook passwords of job applicants amounts to the violation of federal law.