Techmeme
August 12, 2021, 2:45 PM

Top News

Mike Isaac / New York Times:
Reddit raises $410M+ led by Fidelity Investments at a $10B+ valuation, up from $6B six months ago when it raised $250M; the new round could reach ~$700M  —  Reddit, the virtual town square of the consumer internet, has raised a fresh $410 million in funding, valuing it at more than $10 billion, the company said on Thursday.
Felix Salmon / Axios:
Circle announces intention to become a bank, fully regulated by Federal Reserve, OCC, and FDIC, which could make USDC a de facto central bank digital currency  —  Crypto giant Circle has announced its intention to become a bank, fully regulated by the Federal Reserve, the Office of the Comptroller of the Currency, and the FDIC.
Naman Ramachandran / Variety:
UK's CMA says it has provisionally found that Facebook's Giphy acquisition could negatively impact competition, such as by denying competitors access to GIFs  —  The merger of social media giant Facebook and Giphy, the largest provider of GIFs, has run into a roadblock from the U.K.'s Competition and Markets Authority (CMA).
Simon Evans / Reuters:
Lionel Messi's new contract with Paris St Germain includes a “large number” of crypto $PSG Fan Tokens from Socios.com, which let holders vote on minor decisions  —  Argentine soccer star Lionel Messi's transfer to French club Paris St Germain included a payment in cryptocurrency fan tokens …
Sarah Perez / TechCrunch:
TikTok details upcoming protections for users aged 13 to 17, including turning in-app messaging off by default and changes to notifications  —  TikTok today becomes the latest tech company to roll out increased protections for minors on its platform in the wake of increased regulatory scrutiny.
Nathan Grayson / Washington Post:
Thousands of marginalized streamers implore Twitch to counter “hate raids”, where groups of malicious users fill a streamer's chat with targeted abuse  —  During an Aug. 6 broadcast, the Twitch streamer RekItRaven — who is Black and uses they/them pronouns …
Joseph Cox / VICE:
Google says it banned location data company SafeGraph in early June, meaning apps using SafeGuard location SDK had to remove it  —  SafeGraph sells smartphone location data to essentially anyone.  Google banned the company in June.  —  Joseph Cox  —  Google has banned SafeGraph …
Gael Fashingbauer Cooper / CNET:
Twitter rolls out a web and app redesign, implementing its first proprietary font, Chirp, high-contrast black and white follow and unfollow buttons, and more  —  It's inevitable: Twitter changes Twitter, and Twitter users complain on Twitter.  But does Chirp make you feel like a woodpecker is pounding on your skull?
Joseph Cox / VICE:
Internal docs: Amazon plans to monitor keyboard strokes and mouse movements of customer service staff to stop rogue workers or hackers accessing customer data  —  An internal document also mentions cases where imposters have stolen Amazon customer data.  —  Joseph Cox
Andrew Deck / Rest of World:
As Substack expands abroad, writers say it needs local payment options and customer service in other languages; some worry about legal support in hostile states  —  From India to Brazil, Substack is awarding grants and lending journalists editorial resources.  How far will that support really go?
Li Jin / Li's Newsletter:
A look at how centralized social media platforms have made the creator economy corrosive for online workers and what can be done to remedy the issue  —  The creator economy is becoming the gig economy—but there's still time to turn things around  —  Nearly two years ago, I published …
CNBC:
Snap creators say they are leaving Snapchat's Spotlight feature as payments have dried up after June 1, with some moving to YouTube, Instagram, and TikTok  —  - Creators say they're leaving Snapchat's Spotlight feature after payments on the service had dried up.
Jason Schreier / Bloomberg:
In an internal memo, Amazon drops guidelines that claimed ownership rights to video games made by staff after work hours, following criticism from developers  —  - Memo from Game Studios chief suggests rules were too broad  — Company previously claimed rights to games made outside work
Wolfie Zhao / The Block:
The attacker who stole $611M from Poly Network has now returned over $342M in USDC, BTCB, SHIBA, and others, after saying they were “ready to surrender”  —  Quick Take  — Poly Network attacker has started returning the funds that were stolen in the largest DeFi hack to date.
Bloomberg:
Sources: Sequoia remains optimistic about China as the healthcare sector, about a third of Sequoia's China portfolio, has yet to become a focus of crackdowns  —  The venture firm has exposure to the online education sector that regulators have choked, and investors worry its other holdings could be next.
Ryan Browne / CNBC:

Sponsor Posts

Stripe:
How to improve checkout and grow sales  —  Watch now to learn how to eliminate the most common checkout errors and reduce friction in your checkout process.
MicroAcquire:
New opportunities are waiting for you  —  Join 100,000+ entrepreneurs buying and selling startups on the world's #1 acquisition marketplace.  Expertly curated to match serious buyers with pre-vetted startups of all sizes.
Softr:
Turn your Airtable into a powerful custom app, no code required  —  Softr is a no-code app builder that lets you create client portals, custom CRMs, and internal tools powered by your Airtable data.
Zoho:
Honouring the commitment we made ten years ago  —  There's no denying that a custom domain is no longer a nicety but an absolute necessity, not just for established businesses or corporations, but also for small businesses or in some cases, families.
Techmeme Ride Home:
Fri. 01/21 - Intel Bringing Silicon Back (To Ohio)
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 2:45 PM ET, August 12, 2021.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Jon Porter / The Verge:
Eric Krebs / Bloomberg:
Li Yuan / New York Times:

Earlier Picks

The Information:
John D. McKinnon / Wall Street Journal: