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May 5, 2022, 8:45 PM
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| Dan Primack / Axios: |
Filing: Elon Musk raises $7.14B for his Twitter bid from Saudi Prince Alwaleed, Larry Ellison, Sequoia, VyCapital, Binance, a16z, and others; Ellison gives $1B — Elon Musk on Thursday disclosed a group of co-investors in his Twitter takeover. The names are impressive, but most of their check sizes aren't.
Source:
SEC.gov. More:
BuzzFeed News, Wall Street Journal, New York Times, The Information, TechCrunch, VICE, Bloomberg, SiliconANGLE, The Hollywood Reporter, Forbes, Los Angeles Times, Axios, Bitcoin News, Financial Times, UPI, Social Media Today, Bloomberg, Junghoon's Direct Media …, Ars Technica, Bloomberg, CNBC, CNN, Cointelegraph, CNBC, Crunchbase News, Silicon Republic, Newser, Channel Futures, San Francisco Business Journal, Agence France-Presse, iMore, Reuters, The Mac Observer, PYMNTS.com, BBC, Bloomberg, and Bloomberg
Tweets: @alwaleed_talal, @bhorowitz, @markdistef, @bhorowitz, @markdistef, @bhorowitz, @cz_binance, @danprimack, @bigblackjacobin, @kurtwagner8, @pt, @noupside, @alexstamos, @danprimack, @jack, @seldo, @binance, @maggienyt, @arashmassoudi, @ryangrim, @bhorowitz, @mehdirhasan, @rschooley, @muradahmed, @ericjackson, @coloradotravis, @mmasnick, @peter_tl, @benwerd, @danprimack, @firstadopter, @thedomino, @taylorlorenz, @nkulw, @mcnees, @shaig, @carnage4life, @loganbartlett, @jsphctrl, @karlbode, @danprimack, @sarahfrier, @dearsarah, @silvermanjacob, @ryan_browne_, @maxkennerly, @mmasnick, @gartenberg, @teresa_longwell, @rmac18, @teroterotero, @kantrowitz, @mattbc, @loudmouthjulia, @patrickw, @carnage4life, @benedictevans, @macaesbruno, @tonyfratto, @anildash, @sridinats, @vladsavov, @loudmouthjulia, @pekingmike, @tomaxwell, and @mattturck
| Annie Palmer / CNBC: |
Sources: Elon Musk is expected to serve as the temporary CEO of Twitter for a few months after he completes his $44B takeover of the company — - Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company, according to CNBC's David Faber.
More:
The Verge, Protocol, Benzinga, Bloomberg, The Register, New York Post, MobileSyrup, crypto.news, Financial Times, iPhone in Canada Blog, TheStreet, CNET, and Android Headlines
Tweets: @teroterotero, @jyarow, @mattrosoff, @drjengunter, @carnage4life, @sam_l_shead, @sivavaid, @lorakolodny, @alexhern, @dcherring, @sjvn, @teroterotero, @mattgoldich, and @adetolaov
| New York Times: |
Elon Musk's hate for ads conflicts with Twitter's business model, as ad execs say they will move spending elsewhere if the company relaxes content moderation — Many marketers were already lukewarm on the service. Now, some may move their money elsewhere if the content moderation policies are relaxed.
More:
Social Media Today, Input, Insider, and Forbes
Tweets: @tiffkhsu, @kateconger, @slpng_giants, @intelwire, @bmorrissey, @digitalshields, and @ggreenwald
| Edwin Chan / Bloomberg: |
More:
CNBC, Reuters, Cryptopolitan, New York Post, Gizmodo, and Financial Times
Tweets: @petermccormack, @samcarvalho, @jonrussell, @omartamo19, @danprimack, @sociogeeks_, and @compound248
| Ian Sherr / CNET: |
Apple, Google, and Microsoft plan to offer the FIDO Alliance's passwordless tech on websites and apps, using fingerprint readers, face scanners, and smartphones — What's happening — Why it matters — What it means for you — If Apple, Google and Microsoft have their way …
More:
Apple, The Keyword, The Verge, Microsoft Tech Community, Microsoft Security Blog, SC Media, MacRumors, BleepingComputer, AppleInsider, Philip Elmer‑DeWitt, TechCrunch, MacStories, CIO.com, PCWorld, Telegraph, Livemint, TechSpot, VentureBeat, Daring Fireball, BigTechWire, iMore, Android Headlines, TechRepublic, The Record, iPhone Hacks, Silicon Republic, HotHardware.com News, and Gizmodo
Tweets: @emilykager, @cisajen, @mrisher, @k8em0, @can, @thorsheim, @azuread, @blowdart, @johnwilander, @rmondello, and @robleathern
| Ian Sherr / CNET: |
Microsoft partners with Epic to offer Fortnite for free through Xbox Cloud Gaming, with or without a subscription, across Android, iOS, iPadOS, and Windows PCs — The tech giant is experimenting with offering free-to-play games through its streaming service.
More:
Xbox Wire, Game Developer, Protocol, MacRumors, TechRadar, Ars Technica, Gizmodo, The Verge, Polygon, 9to5Mac, OnMSFT.com, AppleInsider, Engadget, BigTechWire, iDownloadBlog.com, iPhone in Canada Blog, iMore, and TechEBlog
Tweets: @timsweeneyepic, @xbox, @tomwarren, @starfire2258, @avoblackfyre, @timsweeneyepic, @slightlylate, @bdsams, @bdsams, @satyanadella, @tomwarren, @zacbowden, @tomwarren, @udiwertheimer, @firt, @slightlylate, @wario64, and @pathedger18. Thanks:@iansherr
| Wall Street Journal: |
Whistleblowers: Meta deliberately took down Pages for hospitals and other Australian institutions in 2021 as a negotiating tactic over the news bargaining law — When Facebook blocked news pages last year to pre-empt Australian legislation that would force it to pay for content …
More:
Engadget. Tweets: @andymstone, @donie, @donie, @bethblackshire, @manjusrii, @jeffhorwitz, @jason_kint, @stalruth, @juliapowles, @jason_kint, @jason_kint, @anthony, @jason_kint, @asymco, @anildash, @jason_kint, @jason_kint, @drewpusateri, @jesselehrich, @reaganbrad, @lauraedelson2, @anthony, @jason_kint, @jason_kint, @jason_kint, and @jeffhorwitz
| Michael Bellusci / CoinDesk: |
Block reports Q1 revenue down 22% YoY to $3.96B, vs. $4.1B est., profit up 34% YoY to $1.29B, and Cash App bitcoin revenue down 51% YoY to $1.73B; stock up 5%+ — Fintech and digital payments giant Block Inc. (SQ) reported first-quarter earnings that missed analyst expectations on Thursday … | Aislinn Keely / The Block: |
The CFTC orders BitMEX's three cofounders to pay $10M each for not registering with the agency, and failing to implement anti-money laundering and KYC checks — The Commodity Futures Trading Commission (CFTC) has hit the founders of crypto exchange BitMEX with a total of $30 million in civil monetary penalties.
More:
Bloomberg, Crowdfund Insider, CFTC, CoinDesk, and Decrypt
| Joe Warminsky / The Record: |
The White House instructs federal agencies to ramp up preparations over the next six months for quantum computers capable of breaking public-key cryptography — A memorandum issued Wednesday by President Joe Biden orders federal agencies to ramp up preparations for a day when quantum computers …
Source:
The White House. More:
National Security …, BleepingComputer, Quantum Foundry, Federal Computer Week, The Register, Tom's Hardware, ZDNet, and DCD
Tweets: @jgamblin, @tomgara, @philliplarson, @matthew_d_green, @wcathcart, @alexhern, @wolfejosh, @alondranelson46, and @alexhern
| Jordan Novet / CNBC: |
Amazon stock closes down ~8%, Meta ~7%, Apple ~6%, Alphabet ~5%, and Microsoft ~4% as a Big Tech selloff pushes the Nasdaq to its steepest drop since June 2020 — - Cloud and e-commerce stocks were among the biggest losers on Thursday on disappointing earnings reports and after the U.S. central bank raised interest rates.
More:
Crain's New York Business, Bloomberg, The Motley Fool, Financial Times, Deadline, Variety, Fox Business, Insider, TheStreet, and StockNews.com
Tweets: @rustybrick, @pkedrosky, and @kritiguptanews
| Luke Taylor / Rest of World: |
Survey of 1,800 households in El Salvador finds ~61% abandoned the Chivo bitcoin wallet after withdrawing the $30 sign-up incentive — Those who stayed are not on the Chivo app for what was intended, using it to keep their dollars safe rather than for crypto. — • BOGOTÁ, COLOMBIA
Tweets: @counternotions, @antoniocasilli, @cengizyar, and @mikebutcher
| Natasha Mascarenhas / TechCrunch: |
Sources: On Deck, which connects founders with capital and advice, laid off 25% of its staff, or ~72 people, after raising ~$40M of a planned $100M-$150M fund — On Deck, a tech company that connects founders to each other, capital and advice, has laid off 25% off its staff, per sources familiar with the company.
Tweets: @nmasc_, @eriktorenberg, @bizcarson, @nmasc_, @carnage4life, and @sarthakgh
| Jeff John Roberts / Decrypt: |
Zora, which offers an open-source NFT marketplace protocol, raises a $50M seed at a $600M valuation led by Haun Ventures, Katie Haun's new crypto fund — In December, the high-flying crypto investor Katie Haun roiled the crypto world by announcing she was leaving Andreessen Horowitz to launch her own $1.5 billion venture fund.
More:
TechCrunch, CoinDesk, The Block, Protocol, VentureBeat, and NFT Evening. Thanks:@jeffjohnroberts
| Joshua Bote / SFGATE: |
A look at buy now, pay later services, popularized by social media culture and Gen Z, and the risks involved; Afterpay says 73% of Gen Z purchases are fashion — Do a quick scan of TikTok and you'll find trendy young people casually blowing hundreds or thousands of dollars on clothes and jewelry …
More:
Input. Tweets: @katienotopoulos, @seyitaylor, @ositanwanevu, @brosandprose, @mollyrose_good, @offbeatorbit, @joelwinston, and @adamscochran
| Jackie Davalos / Bloomberg: |
DoorDash reports Q1 revenue up 35% YoY to $1.46B, vs. $1.38B est., 404M orders, up 23% YoY, gross order value up 25% to $12.4B, vs. $11.7B est.; stock up 5%+ — DoorDash Inc. reported revenue that beat analysts' estimates, a sign that customers' craving for the convenience of ordering online …
More:
DoorDash, Mercury News, Reuters, FreightWaves, Benzinga, MarketWatch, Associated Press, Wall Street Journal, and CNBC
| Stefanie Marotta / Bloomberg: |
Shopify reports Q1 revenue up 22% YoY to $1.2B, below $1.25B est., and GMV up 16% YoY to $43.2B; Shopify acquires Deliverr for $2.1B; stock closes down 14.92% — Shopify Inc. shares plunged below their pre-pandemic level after the company missed revenue and profit estimates …
More:
Shopify, TechCrunch, GeekWire, BetaKit, CNBC, MarketWatch, Globe and Mail, MarketWatch, Dow Jones Newswires, Axios, Wall Street Journal, Wall Street Journal, Glossy, Investor's Business Daily, BNN, TheStreet, Protocol, Barron's Online, Fortune, Financial Times, Reuters, Crunchbase News, and PYMNTS.com
Tweets: @juokaz, @brandonmchu, @dennishegstad, @tobi, @dee_bosa, @mjackson, @harleyf, @skanwar, @ecommerce, @shopify, and @kantrowitz
| Devin Coldewey / TechCrunch: |
Curebase, which manages software and hardware for distributed clinical trials, raises a $40M Series B led by Industry Ventures — The medical world has come a long way from the traditional, centralized way of conducting clinical trials, but there's still a lot of modernization left to do.
More:
VatorNews, pharmaphorum.com, Fierce Biotech, PR Newswire, and MobiHealthNews
| Bloomberg: |
Latin American e-commerce site MercadoLibre reports Q1 revenue up 63% YoY to $2.2B, vs. $2B est., and gross merchandise volume up 27% YoY to $7.7B; stock up 8%+ — MONTEVIDEO, Uruguay, May 5 th , 2022 (GLOBE NEWSWIRE) — MercadoLibre, Inc. (Nasdaq: MELI) (http://www.mercadolibre.com) …
More:
Reuters and MercadoLibre, Inc.
| James Clayton / BBC: |
The UK plans to give the Digital Markets Unit powers to clamp down on Big Tech's predatory practices and introduce the necessary legislation “in due course” — Large tech companies such as Google and Facebook will have to abide by new competition rules in the UK or risk facing huge fines, the government said.| MK Manoylov / The Block: |
Blockchain-based gaming startup Untamed Planet, which uses Roblox to create nature-themed games incorporating NFTs, raises a $24M Series A led by Animoca Brands — Untamed Planet, a blockchain-based gaming startup, raised $24.3 million in a Series A funding round led by Animoca Brands.
More:
animocabrands and VentureBeat
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