Techmeme
May 27, 2022, 4:40 PM

Top News

Nivedita Balu / Reuters:
Filing: Twitter rejects Elon Musk ally Egon Durban's resignation from the board, two days after shareholders blocked his re-election at an annual meeting  —  Twitter Inc (TWTR.N) said in a filing on Friday it would not accept Egon Durban's resignation from the board, after shareholders blocked …
Kate Conger / New York Times:
In an April 4 letter, the SEC told Elon Musk it is probing his March purchases and disclosures of Twitter stock, and whether he was truly a “passive” investor  —  The regulator questioned whether the Tesla chief executive had disclosed his stake at the right time.
Lora Kolodny / CNBC:
A Twitter shareholder sues Elon Musk and Twitter over the handling of the acquisition, saying Musk engaged “in conduct designed to create doubt about the deal”  —  - Since Musk's acquisition bid, Twitter's share price has dropped more than 12%, and Tesla's is down about 28% as part of a broad sell-off in tech stocks.
Rest of World:
Some people in countries with high inflation say they lost tens of thousands in savings after investing in UST, which seemed more stable than the local currency  —  “I have nothing left, not even a penny.”  —  Valeria makes around $300 a month selling prepared food from her home in Buenos Aires.
Kashmir Hill / New York Times:
A look at PimEyes, a paid facial recognition service that charges up to $300 per month to exclude photos, which some women describe as “essentially extortion”  —  PimEyes is a paid service that finds photos of a person from across the internet, including some the person may not want exposed.
Jez Corden / Windows Central:
Microsoft confirms it is building an HDMI device codenamed Keystone that can be connected to a TV or monitor to run Xbox Game Pass and its cloud gaming service  —  The key to the cloud.  —  For a few years, rumors have persisted that Microsoft was exploring building some form of streaming stick …
Budi Sutrisno / Tech in Asia:
Jakarta-based Bibit, which offers robo-advisor services to help millennial users invest in mutual funds based on their risk profiles, raises $80M+ led by GIC  —  Indonesia-based investment app Bibit has raised over US$80 million in a funding round led by GIC, with participation from Prosus Ventures and other existing investors.
More: FinSMEs
Amy Lewin / Sifted:
Report: only 15% of European VC general partners are women, managing just 9% of total assets; 13% of general partners in the UK are women, managing 5% of assets  —  Across Europe as a whole, 85% of VC GPs are men.  —  In worse than the average in the UK, where 87% of GPs are men.
Agne Cimermanaite / Metaverse Post:
Los Angeles-based Jadu, which is building an AR game around virtual objects and avatars owned by players in a metaverse, raises $36M led by Bain Capital Crypto  —  Jadu Mirrorverse — an AR game built around virtual objects owned by the players — just raised $36M to help create the Web3 …
More: Jadu

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