In a Thursday night announcement, social network Facebook revealed that it has partnered with two winemakers - Robert Mondavi Winery and Chandon - to allow the Facebook users to gift wine bottles to one another via the company's newly-introduced `Gifts' feature.

In a move which brings on one of the most fervently requested features by the users of Facebook's mobile apps, the mobile website of the popular social network now boasts the addition of a mobile share button.

A total of about 777 million more shares of the social networking giant, Facebook are set to available from Wednesday as lock-in period concludes.

From Wednesday, the company's employees will be able to sell their shares and generate income. These shares will be in additional to the 1.3 billion shares of Facebook that are already trading on the stock exchange. The company has a total of 2.2 billion shares outstanding.

In an earlier this week blog post, the Facebook-owned widely-popular photo-sharing app Instagram revealed its plans to expand to the web, by introducing new profiles over the web in the next few days.

Instagram - which was originally designed for mobile handsets - said in the announcement that the new web profiles feature will give its over 100 million users a profile picture, bio, as well as a selection of their latest snap shots.

The Facebook Messenger plug-in from Mozilla - the company behind the popular Web browser Firefox - allows the users to save their valuable browser space; giving them the advantage of getting their notifications and chat without having to actually open the social network's website.

On Friday, social network Facebook began the rollout of its revamped privacy process, under which the company will give step-by-step privacy-related instructions to the new users when they sign up.

The revamped process is partly a result of Facebook's campaign to assuage the privacy concerns voiced by the Irish Data Protection Commissioner's Office, which carried out an audit in 2011 to ascertain Facebook's compliance with privacy laws in Ireland and the European Union.

New York resident Paul Ceglia - the man who claimed that he had signed a contract with Facebook CEO Mark Zuckerberg for a 50 percent share in the social network - was arrested on Friday, on document forgery charges in a multibillion-dollar plan to defraud Facebook.

Close on the heels of the cancellation of Google's Nexus launch and AllThingD's mobile conference - both events scheduled to be held in New York - because of Hurricane Sandy, social network Facebook has now reveled that it is postponing two New York events which it had planned for this week.

In what apparently marked the conclusion of a rather weird lawsuit which hit the social media company Facebook during its spectacular-growth phase, 39-year-old New York businessman Paul Ceglia - who claimed that he owned a 50 percent Facebook share - was arrested by the federal investigators on Friday, on charges which included fabricating and destroying evidence in a lawsuit seeking half-ownership of Facebook.

Stock in social networking giant Facebook on Wednesday enjoyed its biggest daily gain since its initial public offering in May, after the company reported better-than-expected revenue for the third quarter.

Facebook's shares gained 19 per cent to $23.23 on the NASDAQ Stock Market. It was the stock's highest closing price in the last five weeks.

The social networking site reported a growth of 32 per cent to $1.26 billion for the third quarter. Analysts had projected a year-on-year revenue growth of 29 per cent to $1.23 billion.

World's largest social network, Facebook with more than one billion users from around the world, has said that its mobile revenues have risen much faster than expected during the third quarter of the year.

The company said on Thursday that it now gets 14 percent of its advertising revenue from mobile ads. The total mobile ad revenues f the company increased to $150 million in the third quarter compared to an estimated $40 million to $50 million in the second quarter and almost nil in the first quarter.

In a recent blog post, Facebook's Vijaye Raji revealed that the popular social network has taken the `beta' tag off its new mobile ad system, thereby giving all Facebook developers the opportunity to take advantage of the company's mobile app install ads.

It was in August that Facebook had unveiled the beta version of the new mobile ad program, which chiefly aims at giving a boost to the number of downloads from leading app stores, such as the Apple App Store and the Google Play.

With its "open graph" system having garnered a fair amount of criticism, particularly because of the fact that it posted the non-Facebook. com activity of the users to their friends' Facebook news feeds, the social network is now coming up with a few developer-level changes, under which apps will be barred from automatically sharing users' activity on the Facebook news feed.

As many as ten bigwig technology companies - including the likes of Apple, Google, Microsoft, and Facebook, among others - have teamed up for the creation of a community-driven site called Web Platform Docs, which will serve as a one-stop shop for documentation related to free web development.

Close on the heels of the disclosure that it has surpassed the `1 billion users' landmark, social network Facebook rolled out its first major advertisement on Thursday; with the video commercial highlighting the `human' aspect of the social networking activity on the Internet, despite the fact that it does not involve any no face-to-face interaction.

On Wednesday, popular social network Facebook rolled out an experimental feature - `Promote' - to a limited number of users in the US, giving them the ability to promote important photos or announcements by making a payment to the company.

Amid the falling Facebook stock and the increasing number of lawsuits tarnishing the social network's image, Facebook CEO Mark Zuckerberg is on a `public appearance' spree of late, apparently to project that everything is hunky-dory at the company!

Zuckerberg's recent public appearances - with one following the other - come after a few `quiet' months after Facebook's slipshod IPO attempt. He began making rounds in the public especially after the tech startup-centric TechCrunch Disrupt conference in San Francisco in September.

On Thursday, popular social network Facebook announced the launch of its new gift-giving service – dubbed Facebook Gifts – which will enable the users to send real-life gifts to their friends.

According to a recent TechCrunch report, social network Facebook has confirmed that it has commenced its August-announced massive deletion process; with a crack down on all fake users, accounts, and likes.

Facebook had revealed in a last-month announcement that it intends sweeping its site of all kinds of fake activities, so that phony `likes' could be deleted; in an attempt to ensure that the social network's users were communicating with real people and businesses.

With the integration between mobile payment provider Bango and social network Facebook now live, Bango said in a Monday announcement that purchases made via the mobile site can now be charged directly to the phone bill of the Facebook users in the US, UK, and Germany.