May 7, 2020, 6:55 AM

Top News

New York Times:
Facebook's Oversight Board announces its first 20 members, out of a total of 40, who will oversee challenging content issues  —  The company's independent oversight body will focus on challenging content issues, such as hate speech and harassment.  —  The authors are co-chairs of Facebook's oversight board.
David Kaye / Just Security:
Facebook's efforts are laudable, but the Oversight Board does not end debates over online speech or legitimize content moderation choices by other platforms  —  With the Naming of Oversight Board Members, What Kind of Institution Will This Become?  —  With Facebook's unveiling of the first 20 …
Brady Dale / CoinDesk:
Square reports $528M in Q1 revenue from its Cash App, with $306M coming from Bitcoin transactions, exceeding the app's fiat revenue of $222M for the first time  —  Bitcoin has flippened USD on Square's Cash App, sort of.  —  As reported in the publicly traded fintech company's …
Emily Bary / MarketWatch:
Square reports Q1 revenue of $1.38B, up 44% YoY, with net loss of $106M, up $68M YoY, as Square fills reserves to prepare for COVID-19 problems; stock down 6%+  —  Payments processor falls to an adjusted loss as it prepares for merchants' transaction and loan losses with reserves  —  Referenced Symbols
Nick Statt / The Verge:
Epic Games says Fortnite has 350M registered players, up from 250M in March 2019; in April, players logged 3.2B hours in the game  —  More than 3.2 billion hours played in April alone  —  Epic's Fortnite has more than 350 million registered players, the game developer announced on Wednesday.
Manuel Vonau / Android Police:
Microsoft updates To Do with new features as Wunderlist shutters ~5 years after its acquisition, and the founder behind it unveils work on a new app, Superlist  —  Today is finally the day Wunderlist dies, years after the Microsoft acquisition.  Former users are encouraged to switch to Microsoft To Do …
Jordan Novet / CNBC:
Twilio beat Q1 estimates with revenue of $364.9M, up 57% YoY, and reports over 190K active customer accounts; stock is up about 25% after hours  —  - Twilio beat expectations on results and its guidance for the current quarter.  — The company withdrew full-year guidance.  —  Jeff Lawson
Kurt Wagner / Bloomberg:
The Libra Association names former US Treasury Department official Stuart Levey as its first CEO ahead of a renewed regulatory push  —  The Libra Association, the group behind the proposed digital currency invented by Facebook Inc., named former U.S. Treasury Department official Stuart Levey as its first chief executive officer.
Matt Brian / Engadget:
UK broadband provider Virgin Media and telecom operator O2 announce £31B merger in an effort to take on BT, Sky, and Vodafone in the country  —  The rumors were true: UK broadband provider Virgin Media and telecoms operator O2 are to merge, their parent companies confirmed today.
Lora Kolodny / CNBC:
Lyft reports Q1 revenue of $955.7M, up 23% YoY, as its net loss drops to $398.1M from $1.1B in 2019; active riders rose 3% YoY to 21.2M; stock up 10%+  —  - On Wednesday, Lyft reported losses of $398.1 million, and revenue of $955.7 million for Q1 2020.  — Citing Covid-19 impacts to its business …
Lauren Feiner / CNBC:
Abner Li / 9to5Google:
Google says Android 11 Beta 1 is being pushed back to June 3, about a month behind schedule, but the final release is still on track for Q3  —  Back in February, Google laid out plans for three Android 11 developer previews and betas.  The company delivered the first half on that schedule amid COVID-19 …
Lucas Shaw / Bloomberg:
Internal document reveals Twitch is looking to fund a slate of original, unscripted series that would be live and interactive on dating, sports, music, and more  —  - Amazon unit will bankroll slate of unscripted series this year  — Use of Twitch has exploded during the coronavirus pandemic
Emily Bary / MarketWatch:
PayPal misses Q1 estimates with revenue of $4.62B, up 13% YoY, net income of $84M, down from $667M YoY, and says May 1 was its largest transaction day ever  —  Referenced Symbols  —  PayPal Holdings Inc. fell short of first-quarter expectations Wednesday as the company felt the impact …
Kyle Wiggers / VentureBeat:
GigaSpaces, which develops in-memory data analytics software, raises $12M led by Fortissimo Capital, bringing its total raised to $53M  —  GigaSpaces, a startup developing in-memory computing solutions for AI and machine learning workloads, today announced it raised $12 million.
More: MrWeb and Globes Online
Ashley Carman / The Verge:
Source: Spotify is testing video podcasts in its app, starting with two YouTube stars  —  The test is coming to half of Zane Hijazi and Heath Hussar's audience  —  Spotify is now testing video podcasts in its app, starting with two YouTube stars: Zane Hijazi and Heath Hussar, hosts of Zane and Heath: Unfiltered.

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