Corporate Watch


Facebook changes real-name policy

CALIFORNIA: Facebook Inc said it would change its policy requiring users to go by their real names on the social network, following outrage over the locking of hundreds of accounts, including a number belonging to drag queens using their stage names. Facebook’s product chief, Christopher Cox, apologised in a post on Wednesday and said the affected users could go back to using their aliases. The world’s largest social media network had locked scores of accounts in recent weeks, including hundreds belonging to lesbian, gay, bisexual and transgender people.

“The spirit of our policy is that everyone on Facebook uses the authentic name they use in real life. For Sister Roma, that’s Sister Roma. For Lil Miss Hot Mess, that’s Lil Miss Hot Mess,” Cox wrote, denying that the company’s policy required users to go by their legal names.—Reuters

Germany’s Rocket Internet has lukewarm IPO

BERLIN: Germany’s ambitious start-up platform Rocket Internet made its high-profile arrival on the Frankfurt stock market on Thursday but got off to a disappointing start as shares slumped in morning trading.

Shares were issued at 42.50 euros — which would value Rocket at 6.7 billion euros ($8.46bn), more than Lufthansa airline — but lost six per cent in early trading. After more than five million shares had been traded in the first hour, the price was down 2.26pc to 41.54 euros.

Rocket Interent, aiming to be Germany’s answer to US giants Amazon and eBay and China’s Alibaba, owns a range of businesses worldwide in e-commerce, online retail and Internet-based payment systems.