Good morning, Austin! We have scanned the internet to bring you the latest in tech news. Here’s what’s going on:
Facebook takes on LinkedIn with job listings
It just got easier to apply for a job online.
Facebook is entering the job market by letting employers post job listings natively to their pages and in the News Feed. Posting a job is free for employers, and there's no limit to how many posts a Page can have.
Once a business posts a job listing, anyone who visits that page will see the option to apply. To speed up the process, Facebook will offer to autofill application information, and employers can respond to applicants through Messenger.
The new jobs feature pits Facebook against LinkedIn, the social network for professionals, which charges recruiters to post and promote jobs on its platform.
Snap gears up for IPO seeking to raise as much as $3.2 billion
In what could be the third-biggest tech listing of the past decade, Snap Inc. says it’s seeking to raise as much as $3.2 billion.
The maker of disappearing-photo application Snapchat is offering 200 million Class A shares for $14 to $16 apiece, according to a filing today. That would put its valuation at more than $20 billion.
Next up for CEO Evan Spiegel and fellow executives is the roadshow, where management travels to cities including Los Angeles, San Francisco and New York to pitch the stock to prospective investors.
While leaders are sure to tout revenue increases, Bloomberg notes that Snap may face questions about its user growth, which slowed in the second half of 2016. By the fourth quarter, average daily active user growth fell below 50 percent for the first time since at least 2014.
Shares of Austin’s Q2 Holdings soar on fourth quarter report
Shares Austin’s Q2 Holdings shot up 9 percent in morning trading after the digital banking company exceeded Wall Street expectations in the fourth quarter.
The company, which sells online banking software, reported a loss of $7.5 million in its fourth quarter, or 19 cents per share. Losses, adjusted for one-time expenses, came to 3 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
Q2 posted revenue of $42.2 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $41.4 million.
Shares were trading up 9 percent, or $3.10, at $36 in morning trading.
News on Open Source is free and unlimited. Access to the rest of 512tech.com comes with an American-Statesman digital subscription, which also includes myStatesman.com and the ePaper edition. Subscribe at statesman.com/subscribe.