Techmeme
February 3, 2022, 5:25 PM

Top News

Bloomberg:
Meta closes down 26%, erasing $250B+ 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
Parmy Olson / Bloomberg:
Amazon:
Amazon Q4: revenue up 9% YoY to $137.4B, net income up 98% to $14.3B, and AWS sales up 40% to $17.8B; revenue for FY 2021 grew 22% to $469.8B; stock is up 15%+  —  SEATTLE—(BUSINESS WIRE) February 3, 2022—Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its fourth quarter ended December 31, 2021.
Taylor Soper / GeekWire:
Amazon to raise the price of its Prime membership by $20 to $139 per year starting February 18; monthly fee will go from $12.99 to $14.99  —  Amazon is upping the price of Prime, increasing the annual fee of its membership from $119/year to $139/year.  —  The company made the announcement …
Annie Palmer / CNBC:
Joe Rossignol / MacRumors:
The US Senate Judiciary Committee approves the Open App Markets Act, which would allow app sideloading and let developers use their own in-app payment systems  —  The U.S. Senate Judiciary Committee today approved the bipartisan Open App Markets Act, an antitrust bill that would allow …
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 …
Ashley Carman / The Verge:
Audio: Daniel Ek says Spotify needs exclusives for leverage to land deals with Amazon, Google, and others, and he finds many things Rogan says “very offensive”  —  He says Spotify is a platform, not a publisher  —  Spotify CEO Daniel Ek addressed employees about the Joe Rogan controversy …
Los Angeles Times:
Reuters:
Sources: Israeli surveillance company QuaDream used the zero-click ForcedEntry exploit to break into 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 …
Nina Bambysheva / Forbes:
Trust Machines, which wants to build DeFi apps, DAOs, and NFTs on Blockstack, now called Stacks, raises $150M via Breyer Capital, Union Square Ventures, others  —  It's summer 2017.  Muneeb Ali, a PhD candidate in computer science at Princeton, is finishing his thesis …
Lauren Feiner / CNBC:
Snap reports its first quarterly net profit, with Q4 revenue of $1.3B, up 42% YoY, net income of $23M; revenue for FY 2021 grew 64% to $4.1B; stock is up 60%+  —  - Snap reported earnings for the fourth quarter Thursday that beat analyst estimates on earnings, revenue and user growth.
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 …
Richard Waters / Financial Times:
Interview with Satya Nadella on Microsoft's Activision Blizzard acquisition, preparing for the metaverse, the future of gaming and workplaces, and more  —  Please use the sharing tools found via the share button at the top or side of articles.  Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy.
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.
Dustin Volz / Wall Street Journal:
White House forms the Cyber Safety Review Board, loosely modeled on NTSB, to investigate major national cybersecurity failures, starting with the Log4j bug  —  The new panel is loosely modeled on the National Transportation Safety Board and will look into the recently discovered Log4j internet bug
Saritha Rai / Bloomberg:
Counterpoint: Apple shipped 2.3M iPhones in India in Q4, up 34% YoY; Xiaomi shipped 9.3M smartphones, up 2% YoY, and Samsung shipped 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 …
Financial Times:
Sources: Yuga Labs, the startup behind Bored Ape Yacht Club NFTs, is in talks to raise funds from a16z at a $4B-$5B valuation, its first outside funding  —  NFTs pioneer Yuga Labs seeks $4bn-$5bn valuation from Silicon Valley investor  —  The start-up behind Bored Ape Yacht Club …
Natasha Mascarenhas / TechCrunch:
Mos, a challenger bank for students, raises a $40M Series B led by Tiger Global at a $400M valuation, up from $50M in May 2020  —  ‘I wish I had to only convince 1,000 nerds, but we need to convince 20 million students.’  —  Human rights activist and Mos founder Amira Yahyaoui couldn't afford …

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