Facebook’s Real Gift Cards Launch, Path Settle with FTC

It’s once again time for our weekly social roundup.  Let’s look at the latest happening in the social sphere.

Facebook Card

Facebook is reaching beyond the virtual world with its new gift card.  The Facebook Card is an actual, physical, reusable gift card that people can give to others as a gift.  It can hold multiple gift balances from Sephora, Olive Garden, Jamba Juice and Target.

The Facebook Card works like this: the sender picks out a gift from the Gift Cards & Digital category.  The next step is to choose the value of the card you want to send, and finish the transaction.  Your friend will be instantly notified and after a few days, your friend will receive the actual Facebook Card in the mail.  It is reusable and if someone else sends you a gift card, the amount will be reflected on your existing card.

You can view your Facebook Card balance in your account settings on Facebook from your phone or desktop and if your balance changes, Facebook will send a real-time notification to your phone.

Facebook Card will gradually roll out in the US.

Path complies with COPPA, settles with FTC

Path, the private social networking service, finally reached a settlement with the Federal Trade Commission for allegations of violating the Children’s Online Privacy Protections Act (COPPA).

Last year, it was discovered that over 3,000 Path accounts belonged to minors, aged 13 years and younger, which came as a result of an investigation for Path uploading iPhone address books to its servers without the individual’s permission.

The settlement includes Path paying a fine of $800,000, purging the 3,000 accounts, establishing a comprehensive privacy program and obtaining independent privacy assessments every other year for the next 20 years.

Twitter nears $10B valuation

Twitter is letting early employees sell shares and according to sources, the microblogging site is now near $10 billion in valuation.  Last week, it was reported that BlackRock was buying around $80 million in Twitter shares at a valuation just north of $9 billion.

Fortune reported that another round of shares from early Twitter employees are being sold at a valuation of $9.9 billion.  The shares were said to have been secured by a fund affiliated with Gentry Venture Partners, which has been pitching the deal to clients.

Apple TV to get HBO GO

Apple is in talks with Time Warner Inc. to gain permission to carry HBO Go on Apple TV, the digital media receiver that streams content bought on iTunes to your TV.  If the negotiation pushes through, cable and satellite pay subscribers will be able to watch 600 hours of movies and TV shows on Apple TV by mid-2013.

HBO GO is currently available as an app for iPhones and iPads, and would be the first app on Apple TV that would require pay-TV authentication.