April 20, 2022, 12:00 PM

Top News

Emily McCormick / Yahoo Finance:
Netflix reports losing 200K net subscribers in Q1, vs. an estimated 2.5M net additions, and $7.87B revenue, vs. $7.95B est.; Netflix opens down 30%+  —  Netflix (NFLX) reported an unexpected decline in first-quarter net subscribers as the company navigated an exit from Russia and an increasingly saturated North American market.
Alex Weprin / The Hollywood Reporter:
Reed Hastings says Netflix plans to offer cheaper, ad-supported plans and will examine what those plans will look like “over the next year or two”  —  Co-CEO Reed Hastings revealed the move on an earnings call after the streaming giant disclosed it lost 200,000 subscribers during its most recent quarter.
Todd Spangler / Variety:
Yogita Khatri / The Block:
Coinbase launches its NFT marketplace in beta, after announcing the service in October 2021, with support for Ethereum-based NFTs and ETH payments  —  Quick Take Coinbase NFT has gone live in beta form.  It currently supports Ethereum-based NFTs and payments in ETH.
New York Times:
A timeline of warnings from investors over the past decade about a tech startup bubble that never burst; instead of a collapse, things got bubblier  —  The venture capitalists are sounding the alarm.  At posh conferences, they buzz about falling valuations for start-ups.
Lauren Hirsch / New York Times:
Sources: Elon Musk is evaluating various debt packages, including preferred debt and a loan against his shares of Tesla, to secure financing for his Twitter bid  —  The world's richest man is trying to shore up debt financing, including potentially taking out a loan against his shares of Tesla, so he can buy Twitter for $43 billion.
Financial Times:
Matt Levine / Bloomberg:
Global smartphone shipments fell 11% in Q1 2022; Samsung grew its market share from 22% to 24%, Apple gained from 15% to 18%, and Xiaomi dipped from 14% to 13%  —  Worldwide smartphone shipments fell 11% amid unfavorable economic conditions and sluggish seasonal demand in the first quarter of 2022.
Google and Meta restrict the accounts of Hong Kong's sole chief executive candidate, John Lee, citing US sanctions from 2020 on Lee for crushing protests  —  Google and Meta Platforms Inc. moved on Wednesday to curtail the social media presence of Hong Kong's sole chief executive candidate …
Maddie Stone / Project Zero:
Google's Project Zero: 58 in-the-wild 0-days were detected and shared in 2021, more than double the previous record, as the industry improves at finding 0-days  —  A Year in Review of 0-days Used In-the-Wild in 2021  —  This is our third annual year in review of 0-days exploited in-the-wild [2020, 2019].
David Pierce / The Verge:
Brave browser introduces De-AMP, a feature which bypasses Google-hosted AMP pages and takes users straight to the original website  —  Yet another nail in the AMP coffin  —  Brave announced a new feature for its browser on Tuesday: De-AMP, which automatically jumps past any page rendered …
Ivan Levingston / Bloomberg:
Just Eat Takeaway says it is exploring a partial or full sale of Grubhub, less than one year after buying it for $7.3B  —  Just Eat NV said it's considering a partial or full sale of its Grubhub unit less than a year after buying it for $7.3 billion, in a reversal that highlights …
Kyle Alspach / VentureBeat:
Okta's probe into the January Lapsus$ breach of a third-party vendor concludes that it lasted only 25 consecutive minutes and impacted just two active customers  —  Okta said Tuesday that a forensic investigation that it commissioned found that the hacker group Lapsus$ accessed …
Benoit Berthelot / Bloomberg:
Filings: Amazon's Luxembourg-based European business lost €1.2B in 2021, meaning it paid no income tax and received €1B in tax credits, on €51.3B in sales  — Inc.'s main European retail business reported 1.2 billion euros ($1.2 billion) of losses in 2021 …
Dan Gallagher / Wall Street Journal:
FactSet survey of Q1 ad revenue: Google is expected to rise 23% YoY to $55.1B, Meta is expected to rise 8% YoY to ~$27.5B, and Twitter to grow 25% YoY to $1.1B  —  Google's search business expected to stay resilient while social platforms grapple with challenges
Ryan Browne / CNBC:
Robinhood revives its UK expansion plans and agrees to acquire crypto app Ziglu, one of the few crypto companies to secure Financial Conduct Authority approval  —  - Robinhood has agreed to buy Ziglu, a London-based fintech app that lets users trade bitcoin and several other cryptocurrencies.

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