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Apple Pings Facebook With ITunes-Based Social Network

Thursday, September 2, 2010

Even Apple, which lives in a bubble of its own device-centered success, can't resist the lure of social networking. Today, CEO Steve Jobs formally thrust the company into the social-media fray with an iTunes-based network, Ping. Why would Apple want to get into social networking? It's where consumers are spending most of their internet time, and Apple has millions of iTunes customers as an instant revenue stream. "We think this will be really popular very fast because 160 million people can switch it on today," Mr. Jobs said during his keynote, where he also announced a version of iOS 4 for the iPad and a new $99 version of AppleTV, with 99-cent TV and $4.99 movie rentals.

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