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Today's top headlines: Rakuten and Pinterest, Facebook IPO, "Russia's Facebook", Rovio Written by Nina Fowler on 21. May 2012

Catch of the Day May 21

The world of tech and startups waits for no one. But don’t worry – here are the top stories handpicked by us from the tech hubs around the world, served up as a daily digest along with our own regular original content so you don’t miss out. Enjoy!

Rakuten to drive new business model for Pinterest?

PinterestJapanese e-commerce giant Rakuten recently led a $100 million investment in Pinterest (alongside Andreessen Horowitz, Bessemer Venture Partners, and FirstMark Capital, as well as a number of angel investors – valuing the company at $1.5 billion). Now, Rakuten CEO Hiroshi Mitikani explains what his company will bring to the party. Read more today on TechCrunch
For related reading,check out: Seedcamp Berlin 2012 (includes Pinterest-inspired social shopping startup

NASDAQ admits screwing up early Facebook IPO trading

FacebookNASDAQ chief exec Robert Greifeld admitted Sunday that the exchange was at fault for some glitches in early trading of Facebook’s IPO – but said it had nothing to do with the stock’s uninspired performance. Read more on VentureVillage’s editorial partner VentureBeat (published yesterday)
Related reading: CEO salary, online buzz, and active users: How Facebook compares to prior tech IPOs

Court confirms “Russia’s Facebook” breaks copyright

vKontakeRussia’s most popular social network, vKontakte, has lost its court appeal against an earlier ruling that its feature integrating with file-sharing software breaches copyright. The case was brought by subsidiaries of multinational music giant EMI. Read more today on GigaOM
Check out our rundown of the Top 10 Russian internet entrepreneurs you need to know about

Rovio’s $42M investment in 2011 – where did it go?

Angry BirdsIn early March last year, Finnish entertainment media company Rovio (best known for Angry Birds) announced it has raised a $42 million round from Accel Partners, Atomico Ventures as well as Felicis Ventures. Now, Rovio’s official financial filing looks as though it raised only a little more than €700 000 in new equity in 2011. Read more today on Artic Startup
For related reading on VentureVillage, check out: Two lead Angry Birds leave to start their own game studio in Finland