Techmeme: Chinese e-commerce company Pinduoduo reports $3.3B in Q3 revenue, up 51% YoY, vs. $4.1B estimated, and 741.5M MAUs, up 15% YoY; stock is down 15%+ (Reuters)

Top News

Eric Slivka / MacRumors:

Kuo: Apple AR headset to launch in late 2022 with an M1-like chip and no tethering to a Mac or an iPhone; Apple wants to replace the iPhone with AR in 10 years — Apple's long-rumored augmented reality (AR) headset project is set to bear its first fruit late next year with the launch …

Bloomberg:

Sources: Chinese regulators asked Didi Global's management to devise a plan for delisting from the NYSE over concerns about leaking sensitive data — - Regulators asked Didi brass to devise a plan to go private — Forced delisting will be severest action against China Tech

More: Reuters, The Economic Times, South China Morning Post, The Economic Times, Benzinga, Coinspeaker, CNBC, and Tech in Asia

Tweets: @tommackenzietv, @rover829, @russian_market, @arjunkharpal, and @evleaks

Natasha Lomas / TechCrunch:

UK's CMA says Google has agreed to an expanded set of commitments as part of the regulator's oversight in the development of Privacy Sandbox — As part of an ongoing antitrust investigation into Google's Privacy Sandbox by the UK's competition regulator, the adtech giant has agreed …

More: The Keyword, GOV.UK, Thurrott, The Register, Financial Times, diginomica, and ico.org.uk

Tweets: @lewis_crofts, @1br0wn, and @astaniscia86

Bloomberg:

China says it is considering setting up a digital asset exchange in Beijing and calls for faster trials of the digital yuan — China is considering setting up a digital asset exchange in Beijing as officials push to promote usage of the digital yuan and crack down on cryptocurrencies.

More: Cryptonews

Brenda Goh / Reuters:

Meituan reports fourth consecutive quarterly loss of $1.57B in Q3 on revenue of $7.6B; its core food delivery business posted revenue of $4.14B, up 28% — Chinese food delivery giant Meituan (3690.HK) reported a fourth consecutive quarterly loss on Friday, as it plowed more investment into expanding its various businesses.

Ryan Browne / CNBC:

Klarna posts a pre-tax loss of $344M from January to September, up 4x YoY, and says it's entered nine markets since the start of 2020 and now has 90M+ customers — - Klarna posted a pre-tax loss of 3.1 billion Swedish krona ($344 million) from January to September, a fourfold increase from the same period a year ago.

More: TechCrunch. Tweets: @klarnanews and @sam_l_shead

Paul Stamatiou:

A look at some key design challenges in crypto and Web3, from onboarding to wallet security, that need to be addressed for the next generation of users — It's still early days in crypto. — That's what you'll hear everywhere when you start digging into crypto and web3 today.

Tweets: @ourielohayon, @developer_dao, @alexisohanian, @bx, @stammy, @alexcornell, @integralhq, and @jasonmarder

Reuters:

Chinese e-commerce company Pinduoduo reports $3.3B in Q3 revenue, up 51% YoY, vs. $4.1B estimated, and 741.5M MAUs, up 15% YoY; stock is down 15%+ — Shares in Chinese e-commerce platform Pinduoduo Inc (PDD.O) plunged as much as 19% in pre-market U.S. trade on Friday after the company missed …

More: Tech in Asia

Stefanie Marotta / Bloomberg:

Coveo, which offers AI-powered enterprise search and personalization services, raises CAD$215M from its Toronto IPO, one of Canada's largest tech IPOs this year — - Coveo shares fell below issue price twice in its first week — Company closed one of the largest Canadian tech IPOs this year

More: GlobeNewswire News Room and BetaKit

Liya Su / DealStreetAsia:

Chinese GPU maker Moore Threads raises a $313M Series A co-led by Source Code Capital, Shanghai Guosheng Group, and Bohai Sheng Industrial Fund Management — Moore Threads, a Chinese semiconductor player which provides graphics processing units (GPUs), announced on Thursday that it has raked …

More: Pandaily. Tweets: @mikenicholls88

Nicole Carpenter / Polygon:

Roblox sues Ruben Sim, a YouTuber it banned over harassment and sexual content, for leading a “cybermob” that it says terrorizes its platform and developers — The banned Roblox user is also a popular and controversial YouTube creator, Ruben Sim

More: Rock, Paper, Shotgun, MSPoweruser, The Verge, HYPEBEAST, Niche Gamer, HITC, Tech Times, Game Rant, Engadget, PC Gamer, Dot Esports, GamesIndustry.biz, Kotaku, thegamer.com, PC Games Insider, Axios, IGN, Tubefilter, and Game Developer

Olatunji Olaigbe / The Record:

How one Nigerian university student turned to cybercrime during the pandemic to pay his bills, driven by high unemployment, few well-paying jobs, and boredom — ILORIN, Nigeria—Around November 2020, Kayode said he was invited to a house party—the kind attended mostly by others involved in the country's illicit digital economy.

More: The Overspill. Tweets: @rpotter_9, @cranehassold, @iheartmalware, @kansasalps, @therecord_media, and @uuallan. Thanks:@campuscodi

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