The 3 Biggest Stories in Social Media This Morning

The 3 Biggest Stories in Social Media This Morning

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Welcome to this morning’s edition of “First To Know,” a series in which we keep you in the know on what’s happening in the digital world. We’re keeping our eyes on three particular stories of interest today.

Facebook Halts Phone & Address Sharing (For Now)

Following widespread displeasure over its recent decision to allow application developers to request access to a user’s address and mobile phone number, Facebook () has decided to temporarily disable this feature until it implements changes that will help users make better informed decisions about their privacy.

Facebook Generated $1.86B in Ad Revenue in 2010

According to recently released figures from eMarketer, Facebook‘s revenue for advertising alone — which excludes revenue for virtual currencies and other sources — came to an impressive $1.86 billion in 2010.

Cheezburger Network Scores $30 Million in Funding

The Cheezburger Network, an Internet () publisher known for popular memes like LOLcats and FAILS, has just scored a $30 million Series A led by Foundry Group, with participation from Madrona Venture Group, Avalon Ventures and SoftBank Capital.

Further News

• The World-Wide Web Consortium (W3C) has unveiled a new logo for HTML5.
• Mysterious UK guerilla artist Banksy is about to be unceremoniously identified to the highest bidder in an eBay auction.
• A new version of Instagram, featuring two new filters and the return of an old one, has hit the iOS App Store ().
• HP is bringing a new kind of comedy show to YouTube (), in which actors from the Upright Citizens Bridgade Theater will take skit ideas from viewers and perform them live on Google ()’s video-sharing site.

Image courtesy of iStockphoto (), DNY59