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August 12, 2021, 2:45 PM
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| 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.
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The Verge, SiliconANGLE, TechCrunch, Financial Times, Input, Tubefilter, The Wrap, Wall Street Journal, Insider, Bloomberg, Variety, and Reuters
Tweets: @jasoncosta, @akianastasiou, @johnlegere, @apompliano, @bowknowsbiz, @adamsinger, @juiceboxca, @austinj, @bowknowsbiz, and @sarafischer
| 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.
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Circle Blog
| 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).
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GOV.UK, Ars Technica, PCMag, Financial Times, CNET, CNBC, Wall Street Journal, Protocol, CNN, The Guardian, The Hill, Reuters, Engadget, Neowin, Tech Xplore, Associated Press, Coinspeaker, and Forbes
Tweets: @seyitaylor, @alexeheath, @alexeheath, @s8mb, @s8mb, @s8mb, @b_fung, and @b_fung
| 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 …
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EN.PSG.FR, CoinDesk, The Block, Cointelegraph, Bitcoinist.com, Cointelegraph, Yahoo Finance, Forbes, CoinJournal, New York Post, Crypto Briefing, Reuters, Decrypt, Cryptonews, CNBC, cryptodaily.co.uk, and Neowin
Tweets: @footballelixir, @footballelixir, @socios, @oscarwgrut, @oscarwgrut, and @mdudas
| 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.
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TikTok, CNET, PCMag, Axios, Engadget, Forbes, USA Today, Neowin, Reuters, 9to5Mac, iDownloadBlog.com, BBC, and TechSpot
Tweets: @frankcatalano and @mshannahmurphy
| 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 …
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Gizmodo, afrotech.com, PC Gamer, Kotaku, Gamasutra, and The Verge
Tweets: @twitch, @twitch, @vahn16, @iambrandontv, @cypheroftyr, and @twitch
| 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 …
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Engadget and The Verge
Tweets: @josephfcox, @josephfcox, @josephfcox, @jshermcyber, @wolfiechristl, @josephfcox, @mikereyes, @josephfcox, and @jason_koebler
| 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?
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Twitter, TechCrunch, iPhone in Canada Blog, The Verge, Tom's Guide, TestingCatalog, Android Central, Wccftech, Memeburn, PCMag, BGR India, Firstpost Tech, TechRadar, TNW, and Social Media Today
Tweets: @twitterdesign, @twitter, @twittera11y, @bloops_, @twitterdesign, @queer_queenie, @favoniussol, @jennschiffer, @twitterdesign, @twitterdesign, @cnet, @wongmjane, @patrickmoorhead, @davewiner, @dcurtis, @gavreilly, @twitterdesign, @andrew3lash, @ztsamudzi, @dantley, @joshwcomeau, @rkrigney, @cmclymer, @revrrlewis, @andraydomise, @shoe0nhead, @andraydomise, @_psot, and @inflatabird
| 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
More:
Engadget. Tweets: @sarahbmyers, @josephfcox, @josephfcox, @josephfcox, @lainnafader, @josephfcox, and @cdibona
| Kelly Gilblom / Bloomberg: |
Study of 6K websites and 900 apps that host pirated movies and TV finds they make ~$1.3B per year from ads, including from ads by Amazon, Facebook, and Google — - Stolen-content providers make $1.3 billion a year, study says — Amazon, Facebook, Google contribute ads to the websites| 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?
Tweets: @decka227, @dlberes, @wexler, @cengizyar, @kixes, @jason_koebler, @ranaayyub, @iatalkspace, @mvzelenks, @mccarthyryanj, @lmatsakis, @lmatsakis, @wongmjane, and @lmatsakis
| Christine Hall / TechCrunch: |
Talkdesk, which provides cloud-based call center software, raises $230M Series D at a $10B valuation, following $143M Series C at a $3B valuation from last July — Talkdesk, a provider of cloud-based contact center software, announced $230 million in new Series D funding that more than triples …
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VentureBeat, Wall Street Journal, Business Wire, Crunchbase News, and Reuters
| Mary Ann Azevedo / TechCrunch: |
Agora, a materials management platform for building contractors, raises $33M Series B led by Tiger Global, bringing its total raised to about $45M — Agora, a startup that has built a materials management platform for contractors, has raised $33 million in a Series B round of funding led by Tiger Global Management.| Bloomberg: |
Sources: Atlanta-based Mailchimp is exploring strategic options, including a sale at a $10B+ valuation; source says Mailchimp's EBITDA reached $300M in 2020 — - Marketing company attracts interest from PE firms, strategics — Atlanta-based firm is currently 100% owned by founders
More:
Insider. Tweets: @katie_roof, @newsynick, @joshsternberg, @newsynick, @yoda, and @astaniscia86
| Reuters: |
Foxconn reports Q2 profit of $1.07B, up 30% YoY, on revenue of $48.5B, up 20% YoY, due to strong demand from Apple and other clients — Taiwan's Foxconn (2317.TW) reported a better-than expected quarterly profit on Thursday due to strong demand for technology products from clients …
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AppleInsider, Tom's Guide, 9to5Mac, Financial Times, iPhone in Canada Blog, and Bloomberg. Tweets: @tculpan
| 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 …
Tweets: @zoescaman, @p_millerd, @carnage4life, @mattschaar, @cnyari, and @om
| 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.
More:
Insider and searchenginejournal.com
Tweets: @carnage4life, @taylorlorenz, @stevekovach, and @levynews
| Zoe Schiffer / The Verge: |
Daversa, an executive recruitment firm for companies like Instacart and Spotify, is facing allegations of male-on-male harassment and assault in a new lawsuit — The company places senior leadership in fast-growing startups to help them become stable, safe work environments
Tweets: @russellbrandom, @kateconger, @hkanji, @cmuggla, and @klarnaseb
| David Uberti / Wall Street Journal: |
A look at efforts to shape federal rules for companies disclosing cyberattacks, with a group representing Alphabet and Amazon pushing for a 72-hour window — Companies and trade groups want at least 72 hours to report cyberattacks — Companies are pushing to narrow legislation … | 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.
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Reuters, PYMNTS.com, Forbes, Medium, Chainalysis Blog, Decrypt, NBC News, The Hill, Tom's Hardware, New York Post, Financial Times, BBC, CNN, Forkast, Elliptic Blog, Security Boulevard, CyberNews, Cryptonews, Crowdfund Insider, CNBC, Decrypt, CryptoSlate, TNW, Silicon Republic, TechRadar, The Overspill, KrASIA, Bitcoin News, Security Affairs, CoinDesk, Bloomberg, Coindesk News, Engadget, Cointelegraph, Wall Street Journal, SiliconANGLE, The Register, Bitcoin News, NewsBTC, PYMNTS.com, International Business Times, The Hill, and VICE
| Lizette Chapman / Bloomberg: |
Palantir reports Q2 revenue of $376M, up 49% YoY, as sales to governments rose 66% YoY; Q3 revenue is forecasted to rise 33% YoY to $385M; stock rises 7%+ — - Third-quarter revenue will be $385 million, company said — Second-quarter revenue grew 49%; loss was 7 cents a share
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ZDNet, Business Wire, Financial Times, and CNBC
Tweets: @ericnewcomer, @annierpalmer, and @dmac1
| 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: |
US grocery delivery startup Gopuff says it has acquired British competitor Dija, which was founded in Dec. 2020 and has raised $20M seed, to expand into Europe — - U.S. grocery delivery firm Gopuff is acquiring British competitor Dija to expand into Europe.
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Business Wire, Silicon Canals, Forbes, The Grocer, Insider, Bloomberg, Sifted, and Tech News
Tweets: @emilyjnicolle and @ryan_browne_
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