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March 11, 2024, 11:25 AM
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| Jonathan Vanian / CNBC: |
Filing: Reddit aims to raise up to $748M in its IPO, selling ~22M shares at $31 to $34 each, for a ~$6.5B valuation; Reddit set aside 1.76M shares for its users — - Reddit aims to raise up to $748 million as part of its upcoming IPO, according to a corporate filing on Monday.
More: Axios, The Register, Gizmodo, TechCrunch, The Verge, 9to5Mac, U.S. Securities and Exchange Commission, NBC News, Bloomberg, RTÉ, Fast Company, Financial Times, Proactive, KNSD-TV, Tech Startups, Fortune, CoinGape, Reuters, and Benzinga
X: @danprimack, @lesliepicker, @edludlow, and @trace_cohen
Forums: Hacker News and Beehaw
| Manish Singh / TechCrunch: |
Elon Musk says xAI plans to open-source Grok this week; xAI released Grok in November 2023, offering access to “real-time” data via X's $16/month subscription — Elon Musk said Monday he will open-source Grok, X's AI chatbot rivaling ChatGPT, this week, days after suing OpenAI …
More: VentureBeat, Gizmodo, New York Post, Engadget, RTÉ, Barron's Online, Benzinga, PCMag, Reuters, MSPoweruser, Coinspeaker, Wall Street Journal, Tech Startups, Nairametrics, Proactive, Cointelegraph, PhoneArena, Cryptopolitan, Analytics India Magazine, CoinGape, and Tech in Asia
X: @elonmusk, @aravsrinivas, @emostaque, @iscienceluvr, @thegregyang, @elonmusk, @xdaily, and @basedbeffjezos
Forums: r/technology and Slashdot
| Kashmir Hill / New York Times: |
GM, Honda, Kia, Hyundai, and others added optional features in their apps to rate people's driving in recent years, offering the data to brokers like LexisNexis — LexisNexis, which generates consumer risk profiles for the insurers, knew about every trip G.M. drivers had taken in their cars …
Mastodon: @dangillmor@mastodon.social. X: @evan_greer, @ccanonne_, @ericdharvey, @kashhill, @lawrencehurley, @halsinger, @swiftonsecurity, @lmower3, @jose_pagliery, @nick_kapur, @tomgara, @davecullen, @hoofnagle, and @kashhill
Forums: Hacker News, r/technology, r/cars, and r/business
| Foo Yun Chee / Reuters: |
EU privacy watchdog EDPS says the European Commission using Microsoft 365 breached privacy rules and the EU didn't implement adequate data transfer safeguards — The European Commission's use of Microsoft (MSFT.O) software breached EU privacy rules and the bloc's executive also failed …
More: European Data Protection …, TechCrunch, The Register, Euractiv, Neowin, MSPoweruser, Euronews, WebProNews, and The Verge
| Jonathan Stempel / Reuters: |
Authors Brian Keene, Abdi Nazemian, and Stewart O'Nan sue Nvidia over allegedly using their work to train NeMo, saying the company “admitted” to using the books — Nvidia (NVDA.O), whose chips power artificial intelligence, has been sued by three authors who said it used …
More: IGN, CDR-news.com magazine, PC Gamer, Interesting Engineering, TipRanks Financial, CoinGape, Silicon Republic, MediaNama, TweakTown, Benzinga, PYMNTS.com, NewsBytes, The Decoder, Reuters, and The Verge
Forums: Hacker News, r/artificial, r/StockMarket, r/wallstreetbets, and r/technology
| Hannah Murphy / Financial Times: |
Pavel Durov says Telegram has 900M users, aims “to become profitable next year, if not this year”, was “offered $30B+ valuations” by VCs, and is weighing an IPO — In rare interview, Pavel Durov says secretive messaging app is making ‘hundreds of millions of dollars’ from ads business
More: Metaverse Post, TechCrunch, and CoinGape
| Lauren Goode / Wired: |
Q&A with Yoel Roth, just named Match Group's head of trust and safety, 16 months after his public exit from Twitter following Elon Musk's acquisition — Yoel Roth suffered targeted harassment after quitting as top content cop at Elon Musk's Twitter. Now he's head of trust and safety … | Elizabeth G. Dunn / New York Times: |
A profile of food delivery app Wonder from Diapers.com and Jet.com co-founder Marc Lore, who invested $200M+ and is targeting a $30B IPO in three to five years — Marc Lore, the entrepreneur behind Diapers.com and Jet.com, would like to disrupt food delivery. But he really wants to build a brand that actually lasts.
X: @dinvesting, @stevehiltonx, @profschleich, and @daniellejing
| Financial Times: |
Thomson Reuters CEO Steve Hasker says the group has $8B to spend on AI acquisitions and investments, to transform its businesses of supplying professional data — Media and data group will develop its own technology and scoop up targets with AI capabilities| Fortune: |
Sources detail a secret $100M investment in Kickstarter by a16z Crypto, letting staff and investors cash out, that led to its abandoned blockchain pivot in 2021 — In early December 2021, employees at the crowdfunding startup Kickstarter got news of a windfall: An investor group wanted to buy some of their shares.| Financial Times: |
As global chip companies seek a backup to China, Malaysia becomes a surprise investment destination, thanks to a background in packaging, assembly, and testing — Tension between Beijing and Washington over access to technology has prompted many companies to open factories in south-east Asia
X: @chinabeigebook and @mjruehl
| Financial Times: |
Interviews and court filings: 10 former Pinduoduo staff describe surveillance after leaving and lawsuits to enforce strict non-competes and stifle competition — Lawyers allege Chinese tech companies abuse laws intended to apply to top executives when they pursue low-level workers leaving for rivalsSponsor Posts
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