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Tech flops this year!

Facebook IPO:

Facebook went public on May 18, 2012, with the price of a share initially set at $38. The company was valued at $104 billion–quite a bit for a company whose 2011 revenue just topped $3.7 billion–so it might not be surprising that the Facebook IPO sort of…flopped.. At this writing, a little more than two weeks later, Facebook shares were trading around $27 , down $11.10 from the opening price.


Smart phone based social network “Path” was rolling along pretty well until this February, when a developer discovered that the app was uploading users’ address book  to its servers without their explicit consent. Though Path was not the only app to upload names, email addresses, and/or phone numbers from users’ address books without the users’ express permission), the network’s road to forgiveness has been difficult.

Google Wallet:

Tech vendors have been talking up NFC (near-field communication) mobile payments for a while now. But it looks as though 2012 won’t be the year of the mobile payment system; consumers have been reluctant to adopt the payment method. Also, in February of this year, a blog described a troubling security flaw in Google’s NFC payment method, Google wallet. The vulnerability allowed anyone holding a rooted smartphone that was running Google Wallet to access the Google Wallet PIN and make purchases using the credit card tied to the NFC chip.

PlayStation Vita:

Sony’s anticipated Playstation Vita handheld gaming console debuted in the United States on February 22. Despite positive reviews, the Vita suffered a rough launch, prompting observers to wonder whether handheld gaming consoles are worth the extra money when smartphones have effectively become gaming machines.

Source: Infoworld

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