Techmeme
August 12, 2021, 11:10 AM

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.
John D. McKinnon / Wall Street Journal:
Three US senators unveil the bipartisan Open App Markets Act, which would force app stores to allow sideloading and let developers use their own IAP systems  —  Legislation would place new limits on how Apple and Google app stores can operate  —  WASHINGTON—Senators introduced legislation Wednesday …
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?
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 …
Joseph Cox / VICE:
Google says it banned location data firm 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 …
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 …
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 …
Jon Porter / The Verge:
Honor unveils Magic 3 series, its first post-Huawei smartphones, all with 6.76-inch displays, Google services, up to 512GB and 12GB RAM, starting at €899  —  Honor has announced its first flagship smartphones since being sold off by former parent company Huawei: the Magic 3 series.
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.
Kyle Wiggers / VentureBeat:
Kronologic, a sales meeting booking service that uses AI to automatically sends calendar invites on behalf of salespeople, raises $20M in seed funding  —  All the sessions from Transform 2021 are available on-demand now.  Watch now.  —  Kronologic, which is developing what it describes as a …
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
Ryan Browne / CNBC:
The Information:
Sources: DoorDash recently held talks to buy Instacart for between $40B and $50B, but the talks fell apart due to potential antitrust scrutiny  —  DoorDash held talks to buy Instacart over the past two months, say people familiar with the situation, for a price that likely would have been between $40 billion and $50 billion.
Li Yuan / New York Times:
After Alibaba fired an employee accused of rape, over 6,000 workers sign a letter urging it to ban sexual remarks and games in ice-breaking and business events  —  Sexually suggestive office games, boozy dinners and a culture of ignoring problems have long plagued the industry.  Changing it will still be hard.

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