revision

Discovery Media today said it's acquiring Web video company Revision3.

As part of the deal, Revision3 will continue under its same management structure, the two companies said, however no details have been provided about if and when Revision3 video content will end up on Discovery's TV channel lineup.

"Discovery's mission to ignite viewers' curiosity and its history of pioneering new platforms -- from cable to HD to 3D -- make it the logical leader in this explosive new wave of digital video growth," said JB Perrette, Discovery's chief digital officer in a statement.

"… Read more

Groupon's revision of its first set of financial results as a public company has apparently attracted the attention of federal regulators.

The U.S. Securities and Exchange Commission is examining last week's announcement but hasn't decided whether to launch a formal investigation, an unnamed source familiar with the situation told The Wall Street Journal.

Groupon representatives declined to comment on the report.

The daily deals site said in a regulatory filing Friday that it had discovered "material weakness" in internal controls over its financial statement and that its fourth-quarter results were worse than previously stated … Read more

Groupon, until recently, was the daily-deals darling.

But according to The Wall Street Journal, the Chicago-based company is slashing its reported revenues by half--from $713.4 million in 2010 down to $312.9 million--in accordance with accounting revisions prompted by the SEC. What's more, after only five months on the job, Groupon's second COO of the year has quit.

Groupon was recently compelled to change its accounting practices after discussions with the Securities and Exchange Commission (SEC). Valued at $20 billion, Groupon was on track to move forward with a $750 million IPO, but in June it was … Read more

Our guest on this morning's episode of The 404 Podcast is Ron Gorodetzky, CTO of Fflick.com, a new site that uses Twitter to aggregate public opinion on popular movies. We're anxious to talk to Ron about the new site, but first Wilson grills him about his former position as Systems Engineering Manager at Digg.

Ron is certainly not a newcomer to the world of start-up Web sites. Back in 2004, he was asked by Kevin Rose to be part of a small social news site you might have heard floating around the Internet: Digg. After helping build Digg into the ubiquitous powerhouse it is now, Ron left and joined up with three other former Digg employees to found Fflick.com, a new online tool that uses Twitter to show you instant movie reviews from your online social circle.

Here's how Fflick works: the first step is to log into your Twitter account on the Fflick home page that also shows all the newest movies in theaters and opening soon, and a small percentage rating that represents the public's general sentiment about the film.

If you see a particular title of interest, you can click through to see public tweets and even filter through your friends' posts as well as positive tweets, negative tweets, interesting tweets, and the latest tweets. There's also a convenient menu on top that routes you to information on show times, ticket purchasing, Netflix queuing, and more.

Ron tells us about the team of engineers who work in the background to ensure the site stays populated with opinions, including the learning machine that scans for keywords to help Fflick recognize a title within a tweet and quality it for the site. Not to worry though, as much as it sounds like Skynet, Ron assures us we're safe...for now.

Ron also gives us a quick preview of the long-term road map for Fflick, and while the site focuses only on movie reviews for now, the engine behind Fflick can theoretically be used for scanning the public sentiment for a variety of issues, including political opinions, music reviews, and more. There are lots of exciting things in the works for a company that's been around for less than two months, so start Fflicking and be sure to tell your friends you heard about it on The 404 first!

Wilson's meticulously groomed and highlighted hair is a constant topic of conversation on our show, and this morning we force him to tie it back in honor of so many evil movie villains from the '90s.

On today's episode of The 404 Podcast, we're wrapping up iPhone 4 news from the weekend, including reports of 1.7 million units sold, design backlash from left-handed smartphone users, and a new phone sex service that uses Apple's FaceTime video chat program to connect users to a live show.

Apple announced that it sold 1.5 million iPhone 4s … Read more

Facebook on Tuesday announced that it has decided to adopt a revised privacy policy designed to be more accessible and easier to understand.

The social network had just completed a weeklong comment period for the new revision and, though "a lot of people participated," less than 7,000 members commented. According to Facebook's rules, this meant that a vote was unnecessary, Michael Richter, Facebook deputy general counsel, wrote in a company blog.

Overall, members supported the proposed changes, including the simplification of the language used to describe the policy and the document's new structure, Richter said. … Read more

Should you launch your product at a trade show like Demo or CES, or should you try to drum up interest on your own? This week on the Roundtable, Revision 3 CEO Jim Louderback and Stage Two Consulting's Jeremy Toeman discuss successful and doomed strategies for introducing new products to the market.

Today, we're talking about product launches. The reason we're doing this show now is that the Demo conference just ended, a week after the TechCrunch50 conference. One hundred and twenty products were launched at these shows. Is that smart? Is this how products should be launched? Is there a better way? To talk about this issue in some depth, I have two great guests....

As usual, watch or listen to the podcast for the content. The notes below are for those keeping score at home.

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When it comes to Wikipedia, the "free encyclopedia that anyone can edit," any kind of structural change is a very big deal.

That's why the current plan for a new rule that would require an editor's approval before any edits to articles about living persons go live is a very big deal. As reported in The New York Times on Monday, that new system is expected to be implemented sometime soon, though it will most likely initially be a trial that will affect only a limited number of articles.

This week, much of the movers and … Read more

Wikipedia will soon be adding a feature to its English-language site that assigns an experienced editor to sign off on any changes to articles on living people, according to Wikimedia Foundation, the nonprofit that runs the user-written online encyclopedia.

Confirming a story reported Monday by The New York Times, Wikimedia Foundation spokesman Jay Walsh said the "flagged revisions" feature is already active on the German site, but needs some fleshing out before it goes live to the public on the English site.

The plan is to deploy the feature on a test wiki soon so the Wikipedia community … Read more