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May 5, 2022, 6:50 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:
Bloomberg, BuzzFeed News, Wall Street Journal, TechCrunch, VICE, SiliconANGLE, The Hollywood Reporter, Forbes, Bloomberg, Financial Times, Los Angeles Times, CNN, Axios, Social Media Today, Forbes, Bloomberg, UPI, PYMNTS.com, The Mac Observer, Bloomberg, Ars Technica, CNBC, Cointelegraph, CNBC, Crunchbase News, Silicon Republic, Newser, Channel Futures, San Francisco Business Journal, CoinQuora, Agence France-Presse, iMore, Reuters, New York Times, BBC, Bloomberg, and Bloomberg
Tweets: @bhorowitz, @alwaleed_talal, @markdistef, @bhorowitz, @markdistef, @cz_binance, @danprimack, @bhorowitz, @danprimack, @kurtwagner8, @mehdirhasan, @rschooley, @seldo, @binance, @maggienyt, @arashmassoudi, @bhorowitz, @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, @bigblackjacobin, @mmasnick, @gartenberg, @teresa_longwell, @rmac18, @teroterotero, @kantrowitz, @mattbc, @loudmouthjulia, @patrickw, @carnage4life, @benedictevans, @macaesbruno, @tonyfratto, @anildash, @sridinats, @vladsavov, @loudmouthjulia, @pekingmike, @tomaxwell, @mattturck, @alex, @danprimack, @alexstamos, and @ivanthek
| 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, The Register, Bloomberg, Benzinga, TheStreet, Financial Times, Android Headlines, New York Post, MobileSyrup, Android Central, crypto.news, iPhone in Canada Blog, and CNET
Tweets: @mattgoldich, @adetolaov, @teroterotero, @jyarow, @mattrosoff, @drjengunter, @carnage4life, @sam_l_shead, @sivavaid, @lorakolodny, @alexhern, @dcherring, @sjvn, @teroterotero, and @ebdawn_
| 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:
Insider and Input
Tweets: @tiffkhsu, @kateconger, @slpng_giants, @intelwire, @bmorrissey, and @digitalshields
| Edwin Chan / Bloomberg: |
Filing: Elon Musk's new $7.14B in equity financing for Twitter, which includes a $375M investment from Qatar, reduces his $12.5B margin loan to $6.25B — Elon Musk has secured about $7.1 billion of new financing commitments for his proposed $44 billion takeover of Twitter Inc., the company said in a filing Thursday.
More:
CNBC, Reuters, Android Headlines, Financial Times, Protocol, Cryptopolitan, Fortune, New York Post, and Gizmodo
Tweets: @petermccormack, @samcarvalho, @jonrussell, @omartamo19, @danprimack, @sociogeeks_, @compound248, @parkermolloy, and @garyblack00
| Sarah Perez / TechCrunch: |
More:
Social Media Today, Twitter for Business, New York Times, and AdExchanger. Tweets: @ggreenwald
| 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:
The Keyword, FIDO Alliance, Apple, The Verge, Microsoft Tech Community, MacRumors, Microsoft Security Blog, The Register, BleepingComputer, AppleInsider, Android Authority, CIO.com, MacStories, Appleosophy, TechCrunch, PCWorld, HotHardware.com News, Telegraph, Livemint, ZDNet, Android Police, TechSpot, VentureBeat, BigTechWire, iMore, Android Headlines, TechRepublic, The Record, iPhone Hacks, Silicon Republic, Engadget, 9to5Mac, 9to5Google, and iClarified
Tweets: @cisajen, @mrisher, @k8em0, @can, @thorsheim, @azuread, @blowdart, @johnwilander, @rmondello, @robleathern, and @argvee
| 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, @manjusrii, @jeffhorwitz, @jason_kint, @stalruth, @juliapowles, @bethblackshire, @anildash, @anthony, @anthony, @drewpusateri, @jeffhorwitz, @jason_kint, @jason_kint, @asymco, @jason_kint, @jason_kint, @jesselehrich, @reaganbrad, @lauraedelson2, @jason_kint, @jason_kint, and @jason_kint
| 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, TechCrunch, Ars Technica, Gizmodo, Protocol, MacRumors, Macworld, iPhone in Canada Blog, TechEBlog, The Verge, Polygon, 9to5Mac, OnMSFT.com, AppleInsider, Engadget, BigTechWire, iDownloadBlog.com, and iMore
Tweets: @timsweeneyepic, @xbox, @starfire2258, @tomwarren, @satyanadella, @tomwarren, @zacbowden, @tomwarren, @udiwertheimer, @firt, @slightlylate, @wario64, and @pathedger18. Thanks:@iansherr
| 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 …
More:
Block, The Block, Protocol, Axios, Reuters, Bitcoinist.com, MarketWatch, and Associated Press
| 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:
BleepingComputer, National Security …, The Register, FedScoop, Tom's Hardware, ZDNet, and DCD
Tweets: @jgamblin, @tomgara, @philliplarson, @matthew_d_green, @wcathcart, @alexhern, @wolfejosh, @alondranelson46, and @alexhern
| 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
| 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 … | 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, CNBC, TheStreet, BNN, Fortune, Financial Times, Crunchbase News, and BetaKit
Tweets: @juokaz, @brandonmchu, @dennishegstad, @tobi, @dee_bosa, @mjackson, @harleyf, @skanwar, @ecommerce, @shopify, @kantrowitz, and @shopify
| 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:
Variety, Fox Business, Insider, TheStreet, and StockNews.com
Tweets: @rustybrick, @kritiguptanews, and @pkedrosky
| 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.| 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
| 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:
MercadoLibre, Inc.
| 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:
FinSMEs, Fierce Biotech, and PR Newswire
| 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 … | Sergiu Gatlan / BleepingComputer: |
IC3 received 241,206 victim complaints of business email compromise scams globally from June 2016 to July 2019, totaling $43B+ in actual and attempted losses — The Federal Bureau of Investigation (FBI) said today that the amount of money lost to business email compromise (BEC) … | Casey Newton / Platformer: |
At a Senate hearing on Wednesday, CrowdTangle co-founder Brandon Silverman and researchers explained why the US needs laws requiring Big Tech to share data — Everyone wants answers about social networks. These experts know where to look — On Wednesday, Congress was treated …
More:
Committee on the Judiciary, Tech Policy Press, and Android Headlines
Tweets: @j_a_tucker, @lauraedelson2, @noupside, @willrinehart, and @klonick
| Adi Robertson / The Verge: |
Twitter's open-source Bluesky unit releases early code for a decentralized social network protocol, dubbed Authenticated Data Experiment, for developers to test — It's called the Authenticated Data Experiment — Bluesky, Twitter's open-source offshoot, has released early code for a decentralized social network protocol.
More:
Decrypt, Bluesky, Slashdot, Telecoms.com, The Register, and Fossbytes
Tweets: @bluesky, @bluesky, @bluesky, @emresokullu, @jeanburgess, @arcalinea, and @jeanburgess
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