Good morning, Austin! We have scanned the Internet to bring you the latest news in the tech world. Here's what's happening:
Facebook rocks Wall Street once again
Thanks to stellar mobile ad sales and a flock of new users, Facebook's profit nearly tripled in the second quarter.
Now the social network - which has 1.71 billion monthly active users, up 15 percent from a year ago - is looking forward. That means doubling down on video and video advertising.
“We see a world where video is first, with video at the heart of all of our apps and services,” Mark Zuckerberg, Facebook’s CEO, said in a conference call with investors.
TechCrunch takes a look at how Facebook is also ramping up its search capabilities in an effort to take on Twitter.
By refocusing on keywords, Facebook is now seeing 2 billion searches per day, up 30 percent in just nine months. That could put pressure on Twitter, which has positioned itself as the place to go for current news, but is struggling to increase ad revenue.
Oracle is buying cloud pioneer NetSuite
Software giant Oracle is boosting its cloud services strategy by making a $9.3 billion bid to purchase NetSuite.
As Bloomberg explains, Oracle has been trying to shift more sales to cloud-based products that are in demand by its customers. Buying NetSuite, whose products include customer relationship management software, will position it to better compete against rivals like Salesforce.com and Microsoft.
Tumblr rolls out ads on blogs
This week Tumblr announced it will roll out ads across all of its blogs, and today it starts happening.
The new program, which is a bid to increase revenue from the Yahoo-owned site, will let users make money from the ads. Although that part is still being worked out.
As reported by TechCrunch, the campaign appears to be an extension of Tumblr's Creatrs program, which connects artists with brands.
The ads will be displayed by default, although users can opt out of the program. Users who participate can sign up to receive a cut of the revenue, but there's no word yet as to when the money could start flowing.
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