Trump media company subpoenaed in federal criminal probe of SPAC deal

Former U.S. President Donald Trump gives the keynote address at the Faith & Freedom Coalition during their annual “Road To Majority Policy Conference” at the Gaylord Opryland Resort & Convention Center June 17, 2022 in Nashville, Tennessee. Seth Herald | Getty Images Donald Trump’s media company was subpoenaed by a federal grand jury in connection with a criminal probe, according to the company with which the former president’s firm plans to merge. Digital World Acquisition Corp. said in a filing Friday that Trump Media and Technology Group received a subpoena…

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The last remnant of Facebook’s crypto project shuts down September 1

The logo for Diem, formerly known as Libra, is seen is displayed on a smartphone screen with a Facebook logo in the background. Pavlo Gonchar | SOPA Images | LightRocket via Getty Images Meta plans to shutter its Novi digital wallet on Sept. 1, just eleven months after the company formerly known as Facebook debuted it. The company announced the upcoming closure on Novi’s website, informing customers that “The Novi pilot is ending soon” and will no longer be available for use after that date. Meta said Novi users should…

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TikTok tells U.S. lawmakers it’s working to stop user data from being accessible to Chinese employees

A leader of the U.S. Federal Communications Commission said he has asked Apple and Google to remove TikTok from their app stores over data security concerns. Pictured here is the TikTok download page on an Apple iPhone on August 7, 2020. Drew Angerer | Getty Images News | Getty Images TikTok, a unit of China’s ByteDance, told U.S. lawmakers that it’s working to safeguard data in response to concern that its Chinese employees have been able to access information on its U.S.-based users. The social media company sent a letter…

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Internal Facebook memo warns company must be disciplined, prioritize ruthlessly

Chris Cox, Chief Product Officer, Meta, speaking the WEF in Davos, Switzerland on May 25th, 2022. Adam Galica | CNBC Facebook-parent Meta has warned employees to expect a tough second half of the year as the company continues to weather challenges related to its core online advertising business amid a weakening economy. Meta chief product officer Chris Cox detailed the company’s financial dilemma in an internal memo that detailed key areas where the social media giant plans to invest, a spokesperson confirmed to CNBC. The memo was previously reported by…

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Snap announces Snapchat+ subscription plan that costs $3.99 a month

A man uses the SnapChat app on an Apple iPad Mini. studioEAST | Getty Images Snap announced Wednesday it’s rolling out a $3.99/month subscription plan for Snapchat that unlocks exclusive and pre-release features. It’s called Snapchat+. The announcement comes after Snapchat gave a disappointing sales outlook for the current quarter when it reported first-quarter results in April. Snap CFO Derek Andersen said at the time that macroeconomic conditions like supply chain disruptions, labor shortages and inflation are impacting advertising, Snap’s main source of revenue. Snapchat+ could help the company diversify…

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Majority Of Retail Consumers Shift Online: Report

Social media investment in e-commerce and the increasing influence of retail marketplaces continue to drive consumer spending online with those surveyed globally saying that 57 per cent of their spend is currently online.  The research, from Wunderman Thompson Commerce’s Future Shopper Report 2022, shows the influence can be predominantly seen in the Asia Pacific markets, as China leads the way in online spending sitting at 66 per cent, followed by Indonesia and India at 64 per cent, Thailand at 60 per cent, Australia at 55 per cent and Japan at…

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Pinterest CEO Ben Silbermann is stepping down and the stock is up

Ben Silbermann, CEO and Co-Founder of Pinterest. Horacio Villalobos | Getty Images Longtime Pinterest CEO Ben Silbermann is stepping down, the company announced Tuesday. Shares jumped more than 5% in after-hours trading. Bill Ready, who was previously in charge of Google’s commerce business, is taking over the helm, effective Wednesday. Prior to joining Google, Ready was executive vice president and chief operating officer of PayPal. Pinterest has more than 400 million monthly active users and has long placed its focus on its advertising business. But in recent years, it has…

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Roe v. Wade overturned: Here’s how tech companies and internet users can protect privacy

SENSITIVE MATERIAL. THIS IMAGE MAY OFFEND OR DISTURB Abortion rights protesters participate in nationwide demonstrations following the leaked Supreme Court opinion suggesting the possibility of overturning the Roe v. Wade abortion rights decision, in New York City, U.S., May 14, 2022. Caitlin Ochs | Reuters The Supreme Court’s decision on Friday to roll back the right to receive an abortion raises new questions about whether and how tech companies should protect the information of users seeking reproductive healthcare. Tech companies may have to contend with issues about user privacy related…

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Zendesk to be acquired by investor group for $10.2 billion

Zendesk co-founder and CEO Mikkel Svane Eric Piermont | AFP | Getty Images Customer experience software company Zendesk agreed to be acquired by an investor group in an all-cash transaction valuing it around $10.2 billion, the company announced on Friday. The deal, led by investment firms Permira and Hellman & Friedman, will give shareholders $77.50 per share, a premium of about 34% over the company’s closing stock price on Thursday, according to the release. Shares were up about 30% during premarket trading. The investment firms plan to take Zendesk private…

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TikTok-owner ByteDance’s aggressive mobile gaming push is paying off as player spending grows

ByteDance has been investing in its mobile gaming business through key acquisitions and is finding success outside of China. Omar Marques | Sopa Images | Lightrocket | Getty Images Chinese internet giant ByteDance’s nascent foray into gaming is showing signs of promise with spending across its mobile titles growing over the past year as it looks to challenge rivals Tencent and NetEase. The TikTok owner generated $1 billion of player spending across its mobile games between June 21, 2021 and June 20, 2022, a 16% increase from the same period…

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