Today in Tech: AOL layoffs confirmed, Facebook co-founder selling shares?

March 4, 2011, 1:31 PM UTC

A curated selection of the day’s most newsworthy tech stories from all over the Web. Sign up to get the newsletter delivered to you everyday.

“It was like being punched in the stomach.” Jack Dorsey on getting replaced as Twitter CEO by Evan Williams in 2008  (Vanity Fair)

  • Twitter creator and Square founder Jack Dorsey is profiled in the latest issue of Vanity Fair. Among the new revelations: his fortune may exceed $300 million, Square has 78 employees, and he wants to one day become New York City mayor. (Vanity Fair)
  • Apple is in talks with record companies like Vivendi, Universal Music, and Sony Music to give iTunes customers more and better access to their music across various devices. Possible options would include a permanent backup of all the music purchases they’ve made and unlimited downloads of purchases to Apple devices in case users’ original music is lost. (Bloomberg)
  • While many focused on the iPad 2’s spiffy new features during Apple’s launch even earlier this year, Google 24/7 senior writer Seth Weintraub noticed the Apple distortion field was in full effect with some questionable facts presented — the first dual core tablet to ship in volume? Really? –and the use of an incorrectly translated quote from Samsung VP Lee Young-hee. (Fortune)
  • AOL CEO Tim Armstrong and new content editor in chief Arianna Huffington finalized their plans for integrating Huffington and her popular news site, The Huffington Post, into AOL. As part of the acquisition, AOL will probably end up saving $20 million, but Armstrong also admitted layoffs are now inevitable. “There will be job changes,” said Armstrong, said at the PaidContent 2011 conference. “There’s no way around it, but we’ll do it thoughtfully.” (ZDNet)
  • One of Facebook’s co-founders, Mark Zuckerberg, Chris Hughes, Dustin Muskowitz, or Eduardo Saverin is reportedly shopping around up to 10 million shares of common Facebook stock, or 1% of the overall company. With secondary-market activity in the $30 per-share range, the interested seller could make some $300 million. (New York Post)
  • Speaking of, the $17 billion investment firm General Atlantic, will likely become the latest Facebook investor, buying one-tenth of 1% of the social network that would value it at $65 billion. (CNBC)
  • Yahoo is reportedly in talks to shed its 35% stake in its Yahoo Japan joint venture, possibly handing over control to its partner, Softbank. (New York Times)
  • Gartner research lowered its earlier forecast of global PC shipments from 15.9% to 10.5%, or 387.8 million units, in 2011 thanks in large part to increasing tablet sales. (Wall Street Journal)

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