Techmeme
February 3, 2022, 11:05 AM

Top News

Bloomberg:
Meta opens down 24%+, erasing $200B+ from its market cap, the biggest loss of market value in single day for a US company, after weak Q4 results and Q1 guidance  —  Facebook parent Meta Platforms Inc. is set to shed about $200 billion in market value, in what would be one of the biggest …
Stephanie Condon / ZDNet:
Meta CFO says Apple's ATT privacy changes will cost the company $10B in revenue during 2022 and that Google “faces a different set of restrictions from Apple”  —  Meanwhile, the company accused Apple of favoring Google over app-based platforms like Facebook with its privacy policies
Lauren Feiner / CNBC:
Meta beats with Q4 revenue of $33.67B vs. $33.4B est., up 20% YoY, 2.91B MAUs, up 4% YoY, but misses with EPS of $3.67 vs. $3.84 est.; stock down 20%+  —  - Facebook earnings came in below expectations for the fourth quarter, and the company said numerous challenges are ahead in the first quarter.
Meta:
Meta breaks out Facebook, Instagram, Messenger, and WhatsApp as Family of Apps, with Q4 revenue of $32.8B, up 20% YoY, and will adopt the META ticker in H1 2022  —  Meta Platforms, Inc. (Nasdaq: FB) today reported financial results for the quarter and full year ended December 31, 2021.
Washington Post:
Janko Roettgers / Protocol:
Los Angeles Times:
Sources: in a Spotify staff meeting, CEO Daniel Ek said the company sees itself as a platform for, not a publisher of, Joe Rogan's podcast  —  Spotify CEO Daniel Ek told employees Wednesday morning that the streaming service doesn't closely supervise controversial podcast host Joe Rogan …
J. Clara Chan / The Hollywood Reporter:
Ashley Carman / The Verge:
Sam Byford / The Verge:
Nintendo reports 10.67M Switch sales in Q3, down 8% YoY, bringing lifetime Switch sales to 103.54M, overtaking the Wii's 101.63M in under five years  —  A good holiday quarter, but Nintendo cut its forecast  —  The Nintendo Switch had a relatively strong holiday quarter …
Arif Bacchus / OnMSFT.com:
Report: Microsoft scrapped plans for a HoloLens 3 in 2021, shifting instead to a mixed reality device with Samsung and leaving the HoloLens team “inflamed”  —  Microsoft turned heads when it first introduced HoloLens, and it even launched a second generation of the mixed reality headset …
Ax Sharma / BleepingComputer:
The Conti ransomware group hits major British snack producer KP Snacks, affecting the supply of Skips, Hula Hoops, McCoy's, and others to leading supermarkets  —  KP Snacks, a major producer of popular British snacks has been hit by the Conti ransomware group affecting distribution to leading supermarkets.
Catalin Cimpanu / The Record:
Blockchain bridge Wormhole confirms a hacker stole $322M worth of ETH and moves its site into maintenance mode; Wormhole is offering a $10M “bug bounty”  —  A threat actor has abused a vulnerability in the Wormhole cryptocurrency platform to steal an estimated $322 million worth of Ether currency.
Reuters:
Sources: Israeli surveillance company QuaDream used the zero-click ForcedEntry exploit to access iPhones in 2021; ForcedEntry was also used by NSO Group  —  A flaw in Apple's software exploited by Israeli surveillance firm NSO Group to break into iPhones in 2021 was simultaneously abused …
Adi Robertson / The Verge:
GameStop plans to launch an NFT marketplace in 2022, built on the Ethereum-based Immutable X platform, and is creating an “up to $100M” fund for game developers  —  It hopes a $100 million fund will make developers use it  —  GameStop plans to launch its own marketplace for non-fungible tokens …
Saritha Rai / Bloomberg:
Counterpoint: Apple sold 2.3M iPhones in India during Q4, up 34% YoY, netting ~$2.09B revenue; Xiaomi sold 9.3M, up 2% YoY, and Samsung sold 7.2M, down 8% YoY  —  Apple Inc. had its strongest quarter for iPhone sales in India yet, a sign the Cupertino, Calif.-based company is finally making progress …
Michael Smith / Bloomberg:
Ahead of expected icy weather, Riot Blockchain, the largest Bitcoin mining company in Texas, reduces power consumption by 98% at its Whinstone facility  —  Crypto miner Riot Blockchain Inc. shut down most of its huge Bitcoin-making operation in Texas to conserve electricity as a wave of cold …
Kim Bhasin / Bloomberg:
Digital fitness company Future, which connects users with coaches, raises $75M led by SC Holdings and Trustbridge Partners, bringing its total funding to $110M+  —  Future, a digital fitness company that pairs users with coaches, is raising funds as the industry realigns itself after years of disruption related to the pandemic.
Tweets: @pkedrosky
Frederic Lardinois / TechCrunch:
Digibee, a low-code service for enterprise workflows, raises a $25M Series A led by SoftBank Latin America Fund  —  Digibee, a low-code integration platform is doing what all low-code integration platforms are apparently doing right now: raising funding.  The company today announced …

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Catalin Cimpanu / The Record:
Andy Greenberg / Wired: