Facebook let's you edit your posts now!

It’s been over three months since the news about being able to edit posts in Facebook surfaced, and we’ve been waiting and waiting and waiting for the feature to be rolled out to the masses. Well, good news… take-backsies are now possible on the social network because finally, the highly coveted function is available beginning this week.
According to a Facebook spokesperson, post editing has actually been available on the Web for some time, but last Thursday Facebook for Android also enabled the feature – you can edit your posts and comments after you’ve shared them without having to repost. Gone are the days of embarrassing typos and auto-correct situations; by just tapping the down arrow on your post and choosing “Edit post,” you have the luxury of correcting textual mistakes to the posts that populate your Timeline.

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A Year Later, Instagram Hasn’t Made a Dime. Was it Worth $1 Billion?

By Victor Luckerson

A picture’s worth much more than a thousand words to Facebook. Last April — a year ago today, in fact — the social media giant agreed to buy the quickly growing photo-sharing social network Instagram for a cool $1 billion (the final price, a mixture of cash and stock, was $715 million because Facebook shares tumbled before the deal was finalized). The sky-high purchase price, well above Instagram’s $500 million valuation at the time, led some to wonder if Facebook was helping to fuel another tech bubble. A year later, the jury’s still out on whether Instagram will one day reap huge profits, but the company is laying groundwork to put the monetization machine in motion.

By many metrics, Instagram has had an impressive year under Facebook. The photo-sharing network had about 30 million users at the time of the buyout. Today there are more than 100 million monthly active users posting more than 40 million photos per day. The company has doubled its staff to more than 25 employees, including a newbusiness operations director brought over from Facebook.

Despite the large growth numbers, it’s difficult to say whether Instagram has earned its price tag.

Read Full story @ Time 

Graffiti artist to become multi-millionaire thanks to Facebook bet in 2005 | Digital Trends

Artist David Choe painted some murals in Facebook's offices back in 2005. When asked about how he'd like to be paid for his work, he had a 50/50 choice. His decision looks set to make him a multi-millionaire.

Imagine it’s 2005. You’re a muralist and graffiti artist making a modest living from your trade, much of which involves decorating the offices of businesses. Then you get a call from a guy named Sean Parker, president of a company called Facebook. Facebook? It rings a bell. You Google it and see that it’s an Internet start-up which began doing business only a year earlier.
Anyway, this guy Parker is inviting you to paint Facebook’s offices in Palo Alto, California. He offers you payment in one of two ways—either thousands of dollars in cash, or stock worth approximately the same. So what’s it going to be?
This is exactly what happened to artist David Choe. And despite thinking at the time that the idea of Facebook was “pointless and ridiculous,” the 35-year-old went for the stock option and presumably watched with his jaw resting firmly on the ground as the company grew way beyond anything he could’ve imagined, culminating in an IPO filing this week that will likely leave Choe worth somewhere in the region of $200 million when the company goes public later in the year.

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