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Facebook Inc named Chief Operating Officer Sheryl Sandberg a director on Monday, elevating the first woman to a board that includes seven men.

Facebook said it has begun placing ads on Zynga's website, another move by the social network to add revenue sources on the heels of its flawed IPO.

Coca-Cola's marketing chief, Joe Tripodi, said that advertising with Facebook probably helps drive sales. The comment marks a powerful endorsement at a time when some advertisers, such as GM, have expressed doubt about putting ad dollars into Facebook.

After about a month of speculation, Facebook has finally announced its acquisition of Israeli facial recognition technology Face.com. We’ve heard from multiple sources that the acquisition price was around $100m, with others reporting that the price was between $80m-$100m. (Update: We’re now hearing from a source familiar with the matter that the price was between $55 and $60 million, and that it was a mix of cash and stock. The exact value of the deal will be changing depending on the price of Facebook’s stock.) This is absolutely not an acqui-hire, as Facebook will be taking full advantage of the company’s technology and the advancements it’s made on mobile — perhaps to finally include mobile tagging options for photos.

Facebook Inc., owner the world’s largest social network, says it’s working on a location-based mobile-advertising product that will allow companies to target users with real-time data showing their whereabouts.

Facebook Inc. investors might finally be catching a break. The social networking titan's stock snapped three straight weeks of losses since going public May 18. The stock surged 6% on Friday -- above $30 a share -- and closed up nearly 11% for the week.

Facebook went public just about a month ago, and on Friday the Securities & Exchange Commission released its correspondence with the social network in the months between its initial filing and the May 18 IPO.

Proving that Facebook should never become a real country, a recent user vote on privacy changes resulted in ... hardly anyone voting. "Hardly anyone" meant 342,632 votes — a smidgen of a smidgen of the social network's 900 million-plus users worldwide.

Facebook went public last month on its prospects for growth. But in some areas, the social network's growth rates are already maturing. In particular, Facebook's user growth rate in the U.S. is slowing sharply. In April, U.S. unique visitors to the website increased to 158 million, up just 5% from a year earlier, according to research firm comScore Inc.