Elon Musk changes his Twitter bio to “Chief Twit” and visits the company's San Francisco office; Twitter tells staff they'll “hear directly from him on Friday”
Elon Musk made his presence felt at Twitter's San Francisco headquarters Wednesday …
Meta reports Q3 revenue down 4% YoY to $27.7B, net income down 52% YoY to $4.4B, family daily active people up 4% YoY to 2.93B, and headcount up 28% YoY
MENLO PARK, Calif. - October 26, 2022 - Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended September 30, 2022.
Sources: banks providing $13B in cash to help fund Elon Musk's Twitter bid have begun transferring the money, signaling the deal could close on Friday
Wall Street Journal :
Elon Musk seeks to reassure Twitter advertisers, arguing his goal is not “to make more money” and the service “cannot become a free-for-all hellscape”
Mega-billionaire Elon Musk, nearing the finish line in his rocky takeover of Twitter, posted an open letter …
Meta reports Reality Labs had a $3.67B loss in Q3 on $285M in revenue, vs. $406M est., and says the unit's operating loss will grow “significantly” in 2023
Nelson Wang / CoinDesk :
Microsoft says Xbox Game Pass is profitable and accounts for ~15% of Xbox's content and services revenue, after sharing PC Game Pass subscriptions rose 159% YoY
Microsoft Gaming CEO Phil Spencer has revealed that the company's Xbox Game Pass subscription service is already profitable.
Meta's stock plummets 22%+, opening around $100, the lowest price since 2016, as investors are spooked by excessive investment into the metaverse
- The parent company of Facebook reported its second straight quarterly decline. — Meta's Reality Labs division, which houses its VR headsets …
Sources: ahead of Elon Musk's takeover, advertisers on Twitter are concerned about looser content moderation and potential conflicts of interest for auto ads
Marketers worry about the Tesla CEO's stance on content moderation, potential conflicts in auto advertising if the Twitter deal completes
Samsung Electronics formally names de facto leader Jay Y. Lee executive chairman; his ascension had been delayed by graft investigations and two stints in jail
Samsung Electronics Co. named Jay Y. Lee executive chairman of South Korea's largest company, finalizing a long-anticipated elevation …
The Wire apologizes, saying technical evidence should have been independently verified and that it was deceived “by a member of our Meta investigation team”
Last week, The Wire formally retracted its Meta stories after conducting an internal review of the technical source material used … Tweets: @amitmalviya , @thewire_in , @caseynewton , @anuraag_saxena ...
Meta reports Instagram reached ~2B MAUs globally, up from 1B in 2018, and WhatsApp reached 2B+ DAUs
Alex Barinka / Bloomberg :
Following complaints from prominent developers, Apple says it has “paused ads related to gambling and a few other categories on App Store product pages”
Apple today rolled out new ad placements in the App Store on the iPhone, allowing developers to advertise their apps in more places …
A Washington judge fines Meta ~$24.7M, the maximum possible amount, after finding the company intentionally violated campaign finance disclosure laws 822 times
Meta, Facebook's parent company, was fined nearly $25 million Wednesday for intentionally and repeatedly violating Washington's campaign finance laws.
Autonomous vehicle startup Argo AI, which raised $2.6B+, is shutting down; sources say parts of the company and some employees would be absorbed by Ford and VW
Argo AI, an autonomous vehicle startup that burst on the scene in 2017 stacked with a $1 billion investment, is shutting down …
Google Cloud announces the Blockchain Node Engine, helping developers build and manage blockchain-based products, starting with Ethereum
Google Cloud on Thursday unveiled Blockchain Node Engine - a fully managed service for Web3 developers that wants to build and manage products for blockchain-based platforms.
Samsung reports Q3 operating profit down 31%+ YoY to $7.65B, the first decline in ~3 years, revenue up ~4% YoY to $54.1B, and semiconductor sales down 14% YoY
Steven Musil / CNET :
Apple patches a bug in iOS 16.1 and macOS Ventura that could let apps with Bluetooth access record user conversations with Siri without needing mic access
Apple released iOS 16.1 and macOS Ventura to the public this week. In addition to headlining new features and changes, there are also essential security fixes as well.
Report: US state and local governments kept buying Chinese telecom equipment despite a federal-level ban; only five states have rules to limit such purchases
Despite federal efforts to block Chinese telecom equipment from U.S. supply chains, state and local governments across …
Sources: the US DOJ launched a criminal probe into Tesla in 2021 that is still underway, following over a dozen crashes, some fatal, with Autopilot activated
Tesla Inc (TSLA.O) is under criminal investigation in the United States over claims that the company's electric vehicles can drive themselves …
The NLRB files a complaint against Amazon CEO Andy Jassy for allegedly violating labor law with comments he made to CNBC and Bloomberg earlier in 2022
Andy Jassy told CNBC that Amazon thinks employees would be “better off” without a union. A new NLRB complaint alleges that violated labor law.
The USDA announces $759M in grants and loans for 49 recipients in 24 states for rural high-speed internet access, as part of the $65B infrastructure law
WASHINGTON (AP) — The U.S. Department of Agriculture is making available $759 million in grants and loans to enable rural communities …
Sources: TikTok plans to add a dedicated gaming tab to its app as soon as November 2, featuring ad-supported mobile games and in-game purchases
Dedicated tab on platform's homepage is company's first venture beyond videos — TikTok is making a big push into gaming …
Source: Google and Amazon struck a deal in recent months that lets Amazon work with manufacturers like TCL, which also makes Android TVs and phones
Last week, the Competition Commission of India published a damning report, alleging that Google was preventing major TV manufacturers from adopting Amazon's Fire TV operating system.
Source: Apple is working on an iPad with a 16-inch screen, the largest iPad yet and in line with the company's largest laptop, and is planning a Q4 2023 release
The UK's ICO warns organizations about the risks of using “emotional analysis” tech, and plans to publish its biometric guidance in spring 2023
Mack DeGeurin / Gizmodo :
Experts say ballooning mobile game file sizes can winnow out smaller studios, as memory upgrades fail to keep pace resulting in fewer games vying for attention
From Tokyo to San Francisco, mobile game studios have sparred for years to captivate a fickle audience, fostering an overlooked problem … Tweets: @luigiblood Tweets: @luigiblood : My opinion about sto...
iPad Pro (2022) review: M2 runs GPU-intensive tasks well and Pencil hover is nice, but the upgrade is incremental and the front camera remains on the wrong side
UserTesting, which helps companies get user feedback about their software, agrees to sell to PE firms Thoma Bravo and Sunstone for about $1.3B; stock jumps 90%+
UserTesting Inc. rose as much as 99% on Thursday after the digital consumer insight company agreed to sell to private equity firms Thoma Bravo …
Spotify updates its iOS app to remove audiobook purchasing options, saying in a message to users that “it's not ideal”, to comply with Apple's App Store rules
An update for Spotify's iOS app released Thursday had a big change for its audiobooks vertical — and not for the better. Tweets: @arshapiro90 , @caseynewton , @lancescadden , and @arshapiro90 Tweets: ...
Google, Temasek, and Bain report: Southeast Asia online spending will rise ~20% in 2022 to $200B, down from 38% in 2021, as digital adoption growth normalizes
three years earlier than expected Shadine Taufik / Tech in Asia : SEA digital economy to grow in 2022 despite headwinds: report Tweets: Yudith Ho / @yudithho : For the first time, growth in Southeast ...
South Korean prosecutors indict four current and former Samsung employees over allegedly stealing and leaking semiconductor tech to overseas companies
Yonhap News Agency :
OpenWeb, which helps publishers target readers with ads and manage comments, has raised a $170M Series F at a $1.5B valuation, up from $1.1B in November 2021
The firm, now valued at $1.5 billion, plans to move further into ad sales and eventually go public, its CEO says See also Mediagazer
Snap rolls out Director Mode for Snapchat, offering users more powerful video tools, including a green screen and a BeReal-style dual camera mode
again Jon Fingas / Engadget : Snapchat's ‘Director Mode’ editing tools are finally ready to use Riley Kaminer / Refresh Miami : Rav.ai's automated video editing platform enables small businesses to up...
Analysis: from January to September, Huawei's net income fell 40% YoY to ~$3.8B, as US sanctions on its smartphones continue; Q3 revenue rose 6% YoY ~$20B
Bloomberg :
Versa Networks, which helps companies unify network and security tools into a single console, raised $120M in equity and debt, bringing its funding to $316M
Kyle Wiggers / TechCrunch :
Shopify reports Q3 revenue rose 22% YoY to $1.4B, above $1.34B estimates, and gross merchandise volume grew 11% YoY to $46.2B; shares jump 15%+
Nivedita Balu / Reuters :
Didi, Kuaishou, Huawei, TikTok, and other Chinese tech companies are expanding in Latin America and poaching talent from each other, as competition intensifies
then Snapchat started poaching people from Kwai.” @dandiba & @megatobin1 for @restofworld https://restofworld.org/... Daniela Dib / @dandiba : As specialized tech talent is scarce in Latam, there's a ...
Indian B2B marketplace Udaan raised $120M in convertible notes and debt, taking its funding to $350M+ in the past year, and plans an IPO in 12-18 months
Manish Singh / TechCrunch :
Canalys: smartphone shipments in China fell 11% YoY to 70M in Q3; Vivo, Oppo, Honor fell 23%, 27%, and 16%, respectively; Apple rose 36% on iPhone 14 Pro demand
Reuters : Source: Canalys .
Mobileye pops 37.95% on its first day of trading after spinning out of Intel, giving the company a $23B market cap; Intel acquired Mobileye for $15.3B in 2017
ConnexPay, which integrates incoming user payments with supplier payments in one service, raised $110M led by FTV Capital to expand into Europe
Keerthi Vedantam / Crunchbase News :
Andy Rubin incorporated home security monitoring software startup Simple Things in July 2020 and appears to have hired staff from his defunct startup Essential
Leaked data from TheTruthSpy stalkerware network reveals its Android apps tracked the calls, locations, and other information of hundreds of thousands of people
Zack Whittaker / TechCrunch :
Japanese chipmaker Kioxia Holdings and US-based Western Digital open a ~$6.79B flash memory fab in Japan's Mie Prefecture, amid a downturn for memory chips
Ryosuke Eguchi / Nikkei Asia :
Hong Kong-based digital payments startup Reap, which is developing tools for Web3 companies, raised a $40M Series A led by Acorn, Arcadia, and HashKey
Zinnia Lee / Forbes :
Finexio, which offers B2B accounts payable and procure-to-pay software, raised a $35M Series B led by JP Morgan at a $100M pre-money valuation
PYMNTS.com :
Source: Israeli cybersecurity startup Cybereason laid off 200 employees, or 17%, after letting ~100 staff go in June and filing for a US IPO earlier in 2022
Meir Orbach / CTech :
Shopify's new AI commerce stack
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Protecting your Cloud Applications Data
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