August 27, 2020, 3:25 PM

Top News

Dan Primack / Axios:
Walmart says it is working with Microsoft on the TikTok deal, sources say with the idea of turning TikTok US into an e-commerce app for creators and users  —  Microsoft is working with Walmart on its efforts to buy TikTok's U.S. business from China's ByteDance, Axios has learned from multiple sources close to the process.
Financial Times:
TikTok CEO Kevin Mayer resigns, sources say after Trump threatened to ban the app; Vanessa Pappas, currently general manager of TikTok, will become interim head  —  Former Disney executive resigns just months after appointment by Chinese video platform  —  Kevin Mayer has quit TikTok …
Alex Sherman / CNBC:
Sources: TikTok likely to announce a sale of US, Canada, Australia, and NZ operations in a deal worth $20B to $30B as soon as next week  —  - TikTok is nearing an agreement to sell its U.S., Canadian, Australian and New Zealand operations in a deal that could be announced as soon as next week, sources say.
The Wrap:
Sources: Oracle has taken the lead position to acquire TikTok and is offering $10B in cash, $10B in stock, and 50% of TikTok's annual profit to ByteDance  —  Oracle, the technology giant led by Larry Ellison, has taken the lead position to acquire the Chinese-owned social app TikTok …
Dieter Bohn / The Verge:
Amazon announces Halo, a $99.99 fitness band with an app to track emotional tone and create 3D scans for body fat, with a $3.99/month subscription service  —  It makes a 3D model of your body and tracks the emotional tone in your voice  —  Amazon is getting into the health gadget market …
Russell Brandom / The Verge:
Facebook users reported Kenosha Guard's Page and event to Facebook before the shootings but were told it did not violate its policies; the Pages are now gone  —  Multiple users reported the account for inciting violence, but were told it did not violate platform policy
Rafat Ali / Skift:
A few lessons for the events industry from digital turning points in music, video, and news industries, as Zoom transforms events like Napster changed music  —  All types of business events are in danger of their revenue streams of tickets, sponsorships, memberships, and other types of fees being eroded.
Sara Fischer / Axios:
Facebook warns publishers that Apple's upcoming privacy changes in iOS 14, which clamp down on ad tracking IDFA usage, will make Audience Network less effective  —  Facebook is warning advertisers that they can expect weaker ad performance from iPhone users once iOS 14 comes out next month …
Counterpoint: Apple's AirPods are expected to sell 82M pairs this year, but their worldwide market share of true wireless earphones will drop from ~50% to 35%  —  - AirPods maker is projected to sell 82 million pairs this year  — Wider market growing even faster, driven by cheaper models
Kia Kokalitcheva / Axios:
SEC approves new NYSE rules that will let companies raise capital through direct listings, a technique that Spotify and Slack used  —  The U.S. Securities and Exchange Commission on Wednesday approved the New York Stock Exchange's rule change that will allow companies to raise new capital as part of a direct listing.
Scott Stein / CNET:
Inside Facebook's Horizon, a VR massive multiplayer world, as it enters an invite-only beta, as questions remain about privacy and safety  —  We're standing in an escape room space, where one of us is trying to guide a block into a target and communicate to the other person, standing behind a wall at a control panel.
Don Clark / New York Times:
Sources say problems at Intel are likely to delay the DoE's exascale supercomputer project, which was scheduled to be installed near Chicago in 2021  —  The chip maker was selected for an Energy Department project meant to show American tech independence.  But problems at Intel have thrown a wrench into the effort.
Tweets: @donal888
Daniel Cooper / Engadget:
Fairphone debuts modular €469 Fairphone 3+ with 40% recycled plastics, launching on September 14; Fairphone 3 users can upgrade camera module for €70  —  Fairphone is a Dutch social enterprise that's trying to improve supply chain and labor conditions in the tech industry.
Igor Bosilkovski / Forbes:
ChartHop, which provides charts to companies about their employees including data such as ethnicity and base compensation, raises $14M Series A led by a16z  —  Organizational platform ChartHop, which provides companies with visual charts that include various data points about their employees …
More: FinSMEs
Lauren Feiner / CNBC:
DC AG sues Instacart, claiming it deceived customers into thinking service fees would go to workers, after bringing a similar charge against DoorDash in Nov.  —  - District of Columbia Attorney General Karl Racine announced a lawsuit Thursday against Instacart, claiming the grocery delivery …
More: CNET

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