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Mobile Minutes: Facebook takes on Yelp; Gilt’s value slashed; Pinterest goes wide; Amazon’s victory

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Staff reports

In proposed sale to Saks Fifth Avenue owner, Gilt Groupe’s value is slashed
Internet retailer Gilt Groupe Inc. is close to selling itself for a fraction of the value placed on it by investors four years ago, the latest sign private companies are struggling to live up to once-soaring valuations.
Read more on The Wall Street Journal

Pinterest to open up promoted pins to all US businesses
Pinterest will let any U.S. business buy its “promoted pins” advertising product starting in January, the latest step by one of the technology world’s so-called unicorns to build an advertising business worthy of its $11 billion valuation.
Read more on USA Today

Amazon dodges bullet in Seattle union measure
Amazon.com Inc. appears to be on the winning end of a vote by the Seattle City Council Monday in favor of allowing contract drivers to unionize.
Read more on The Wall Street Journal