The time is ripe as Facebook announces a massive $5 billion IPO. There was little surprise as to if but rather when the most revolutionary start-up of our generation would make the leap into the public domain.

The S-1 filing will as you imagine make many people extremely wealthy with founder Mark Zuckerberg leading the charge with his 28.2% stake, which based on a suggested $100 billion USD valuation by many accounts puts Zuckerberg’s wealth at over $28 billion. [Read More]

The official launch of Versace’s newest fragrance, Versace Yellow Diamond, has us all eager to run and experience it first hand; but the House of Versace, with its unmatchable levels of customer service, is willing to bring it to you—for free.

We bring you the official Versace Diamond Facebook page where you, our readers, have the limited-time chance to receive the fragrance in an over-sized sample to try from your home. Fill out the form and watch it be delivered to you, directly.

Tyson Balcomb quit Facebook after a chance encounter on an elevator. He found himself standing next to a woman he had never met — yet through Facebook he knew what her older brother looked like, that she was from a tiny island off the coast of Washington and that she had recently visited the Space Needle in Seattle.

“I knew all these things about her, but I’d never even talked to her,” said Mr. Balcomb, a pre-med student in Oregon who had some real-life friends in common with the woman. “At that point I thought, maybe this is a little unhealthy.” [See & Read More]

When Facebook isn't intentionally destroying your privacy, it's doing so unintentionally. That even goes for founder Mark Zuckerberg.

Two years ago, the Facebook CEO's once-private pictures were exposed to the world after the social network changed its privacy defaults. [Read More]

The Federal Trade Commission announced its settlement yesterday with Facebook over privacy violations dating back to December 2009, and the social network looks to have emerged from the situation a ‘roided-up slugger who lives to swing another day. 

The charges against Facebook included publicizing private content, failing to delete content deleted by users, and worst of all, over-sharing data with third party apps, the latter of which it most likely leveraged for profit. [Read More]

It's been a long time coming — marked by teases, false-starts and rumors — but the Facebook iPad app is finally here. The handsome new app, which has been longed for desperately by much of the iPad community up til now, is available for free in the App Store.

The iPad version of Facebook features an overhauled user interface, a new left-hand navigation bar and larger photos.

[Facebook, via Gizmodo]

Bieber Fever has reached Peru, and its getting deadly. For Justin. The popstar's sold-out My World Tour is slated to hit Peru on October 17 and people from the South American country are strongly urging Justin Bieber to stay away due to death threats being posted on Facebook and various other social networking sites. [Read More]

Remember Facebook’s $100 billion evaluation? Sure the company may eventually be worth that much, but in the here and now, the company hasn’t exactly been turning Goldman Sachs-level profits selling our personal info against ads until now. [Read More]

Whether a response to Google+’s lauded privacy settings or just the snowballing criticism over the last few months, Facebook will begin to rollout new controls in the coming days. [Read More]

Just a year after The Social Network made the tagline "You don't get to 500 million friends without making a few enemies" famous, Facebook has already increased that number by over 50 percent. According to a report in TechCrunch, the wildly popular website now has over 750,000,000 active users, or users who have logged into the site within the past 30 days.

Facebook hasn't officially announced the milestone, they haven't updated the official user count since they hit 500 million last year, but TechCrunch says a source close to the company let the news slip. At this rate, it won't be long until the company crosses the 1 billion mark-- which would certainly be worth bragging about. But even 750,000,000 users is truly remarkable.

[via TechCrunch]