SOFTWARE

Facebook has raised $500 million from Goldman Sachs and Russian Internet investment group Digital Sky Technologies in a deal valuing the social networking site at $50 billion, the New York Times reported citing people involved in the transaction.

Microsoft is set to face a tough road in operating system market in 2011.

The manufacturing sector grew for a 17th straight month in December, adding to recent evidence that a recovery in the economy was picking up steam, according to an industry report released on Monday.

Social networking site Facebook is now valued at $50 billion taking it ahead of companies eBay, Yahoo and Time Warner as it raised $500 million from Goldman Sachs and a Russian investor.

Facebook has dethroned Google as the top-visited Web sites in 2010, as well as the most searched term of the year, a report says. Into 2011, it is to be seen whether the search engine giant can regain ground.

Prior to Apple's launch of iPhone 4 on June 7, HTC had launched its Android-based Evo 4G phone on June 4 and now a report prior to Apple's launch of iPad 2 says that HTC is working on tablet to rival iPad.

Server overloads and a bug in Skype for Windows are the reasons behind the network becoming unusable for millions of users two days before this Christmas.

California-based start up Lookout Mobile Security said a new Trojan - dubbed Geinimi' - affecting Android devices has recently emerged in China and displayed botnet-like capabilities.

After an outage that stranded multiple users last week, Skype pulls an ace from its sleeve to woo its disgruntled customers, launching an iPhone app with video chat capabilities.

A computer scientist has adapted a Kinect to control a character in World of Warcraft, but he hopes to see it used in physical therapy also.

U.S. stocks advanced in a thinly traded session on Wednesday with the S&P 500 eyeing its best December in nearly two decades as investors remained optimistic about the prospects for equities next year.

The U.S. securities regulator is looking into share trading in privately-held Internet companies including Facebook and Twitter, media reports said, citing people familiar with the inquiry.

Russia is poised to reclaim control of computing by ditching free software but faces obstacles in implementation, says software freedom stalwart Richard Mattew Stallman.

China-based Perfect World, an online game developer, has announced the launch of unlimited closed beta testing for Empire of the Immortals, a new MMORPG for the Company's Immortals franchise.

Google is planning to launch an online applications store offering popular educational software.

China will not relax curbs on property speculation in 2011 and will reinforce the implementation of measures to contain rising home prices, domestic media reported on Wednesday, citing Housing Minister Jiang Weixin.

Motorola is expected to launch the new Android 3.0 based Tablet at Consumer Electronics Show in early January and will probably be the first Tablet to run on Verizon's LTE (4G) network.

In a blow to Microsoft, Russia has taken another step towards transition into complete usage of free software. Prime Minister Vladimir Putin on Monday signed an order for the transition of federal bodies and agencies to use free software.

Nasdaq-listed iGate, owned by former marketing head of Infosys Phaneesh Murthy, agreed to buy Patni Computer Systems for $1 billion in shares.

The top apps for keeping your New Year's resolution.

Shares in online video rental service Netflix Inc have gotten too expensive and are poised to drop amid battles with Hollywood studios over licensing fees, Barron's said in its latest issue.