The bloom quickly fell off Friday's Facebook IPO, as the wildly overhyped public debut staged by the social media giant and its bankers are now being sued by shareholders for concealing weakened growth forecasts prior to the $16 billion offering.

According to Reuters, defendants including Facebook CEO Mark Zuckerberg and Morgan Stanley were cited as hiding “a severe and pronounced reduction” in revenue forecasts during the IPO marketing process. Two lawsuits have been filed, one in U.S. District Court in Manhattan and the other in a California state court. The New York filing said lowered business forecasts were “selectively disclosed by defendants to certain preferred investors” and not to the general public.

While everyone knew there would be post-IPO challenges, Wall Street and Silicon Valley have been stunned as Facebook shares fell 18.4% from the $38 IPO price in the first three days of trading, reducing the value of stock sold in the IPO by more than $2.9 billion.Continue reading...

It's always a challenge for a brand to shift its demographic focus. But that's what Denny's hopes to do, with a novel Web-only campaign.

The restaurant chain, whose television advertising generally targets families and older consumers, is breaking out of traditional media with a video series running only on CollegeHumor.com, with little mention elsewhere except Denny's Facebook page. The series launched about a year ago; "Season Two" has just begun.

Called "Always Open," the web video series, according to Denny's chief marketing officer Frances Allen, is designed to bring Denny's pitch, "America's Diner is Always Open," to Millennials, ages roughly 18 to 30. Allen tells the New York Times that the new video series offers "an engaging brand moment for millennials" that "communicates our brand message that diners are really welcoming places where everyone can come as they are."Continue reading...

Find yourself in a state of baconstant craving? Denny’s is ready with six (make that seven) degrees of heaven: bacon.

The US eatery gave up its perch in Super Bowl TV advertising last month, so the quick-serve chain has been looking for other ways to make bold statements. Its “Baconalia” promotion may be just that.

With seven new bacon-tastic menu items and an advertising blast that it is unleashing this week, Denny’s is introducing Americans to a phantasmagorical array of new recipes with bacon. These include not only the relatively predictable Bacon Meatloaf but also a sampler with three kinds of bacon and – mercy! – a Maple Bacon Sundae.Continue reading...

In keeping with its longstanding tradition of bucking the system, Viacom's U.S. all-humor network, Comedy Central is launching “Portable Lounge.”  This Web series is being taped on-location across the country, in front of small audiences in such non-traditional comedy venues as a comic book shop, a butcher shop and a chocolate factory. The name comes from the intentionally crummy set: two fold-up beach chairs, a wooden crate and a lamp with a tacky red shade.

The first of the fifteen-minute episodes, above, is set in a bowling alley. The schedule is somewhat erratic; with no commitment to a regular slot, the format includes a rotating roster of guests and hosts such as Chris Gethard, star of Comedy Central’s Big Lake series, and Saturday Night Live regular Bobby Moynihan.Continue reading...

NBC Universal's new Dial Star, a 10-episode Web series sponsored by AT&T, is the latest proof of the media giant's growing commitment to branded entertainment. It also follows on rival moves, such as Orbit’s new DumbDumb campaign from former NBCU entertainment head Ben Silverman and actors Jason Bateman and Will Arnett.

Starring Annalynne McCord (above, of 90210 and Nip/Tuck fame), Dial Star aims to build an online following and viral buzz with its mix of Hollywood glitz and glamour, deception and identity theft.

NBCU, which made its name in TV and filmed entertainment, now aims to be the "the leader in original digital entertainment with brands."Continue reading...

It may be called DumbDumb, but there’s nothing dumb about this branded entertainment startup from comedians Will Arnett and Jason Bateman, as evidenced by its first longform video spots for Orbit gum.

The brand is not so subtly hyped on DumbDumb's site and YouTube to pitch Orbit as a product that can “clean up dirty situations.” Arnett and Bateman are the creators, directors and executive producers of the shorts, in which they also star.

It also marks a new direction for Orbit, the Wrigley-owned brand that spoofed its longrunning "dirty mouth" campaign at the recent profanity-filled MTV Movie Awards.

DumbDumb is co-producing the Orbit digital shorts campaign in partnership with CollegeHumor.com and Electus, the branded entertainment company started by Ben Silverman after he left NBC as its head of entertainment.Continue reading...