Monday, August 20, 2012

What's next for the Rich Kids of Instagram?

(CNN) -- They have money, youth, ample amounts of free time and now a bit of fame. So what's next for the much maligned people featured on the hit site Rich Kids of Instagram? Some are grounded from over-sharing on the Internet, others embarrassed by the attention and some might be heading for TV. The Tumblr blog sprung to life on July 13 and was an instant hit. It is a collection of photos found on Instagram that capture young wealthy people enjoying a life of minimally employed opulence: They're on lavish vacations, taking the most expensive modes of transportation, showing off designer belongings and doing all manner of things with and to champagne. Mixed in with the fun (seriously, who wouldn't want to water-slide off a yacht?) are less creative attempts to brag, like sepia-shaded photos...

Facebook falls to half of public offering price

NEW YORK (AP) â€" Facebook's stock fell to $19 for the first time on Friday, losing half its market value since the company's initial public offering in May.The stock dipped 87 cents, or 4 percent, to briefly hit $19, just minutes before it closed the trading day at $19.05. Facebook's shares ended the week down nearly 13 percent.Facebook hit the $19 milestone a day after the expiration of a lock-up period that had previously prevented some early investors and insiders from selling their shares. Stakeholders who owned a combined 271 million Facebook shares before Thursday can now sell their holdings.A breakdown of just how many major Facebook...