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The parent company of India’s ShareChat has raised nearly $300 million (roughly Rs. 2,325 crore) in fresh funding from Alphabet’s Google, media giant Times Group and Singapore’s Temasek Holdings, valuing the social media firm at nearly $5 billion (roughly Rs. 38,763 crore), two sources involved in the deal discussions told Reuters. A deal is set
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Meta Platforms on Thursday said it was working on restoring Instagram, after thousands of users reported issues with accessing the image-sharing platform. At its peak, more than 6,600 users reported issues with Instagram on Downdetector.com, which collates status reports on outages from sources including user-submitted errors. The outage may be affecting a larger number of
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After unprecedented revenue growth last year, digital platforms including Alphabet, Meta Platforms, Snap and Twitter now face a sobering reality as pandemic-driven advertising trends dissipate, according to an analyst report on Thursday. Research firm MoffettNathanson cut its 2025 revenue estimates for each of the four companies by double-digit percentages. US digital ad spending surged 38
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Instagram on Thursday announced ‘1 Minute Music’ tracks that bring a collection of songs and videos that can be used in making Reels and Stories on the platform. The Meta-owned app has claimed that this latest ‘1 Minute Music’ track collection comprises music from over 200 Indian musicians, including Dhvani Bhanushali, Neeti Mohan, Shaan, Himanshi Khurana, Aniruth,
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With Tesla CEO Elon Musk’s deal to buy Twitter on hold, Amazon owner Jeff Bezos wondered whether Musk’s ownership of Twitter might benefit China at democracy’s expense. China has banned Twitter since 2009. However, many Chinese citizens have been using proxy servers to escape from the autocratic regime of the Chinese government. They access news
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The District of Columbia on Monday sued Meta chief Mark Zuckerberg, seeking to hold him personally liable for the Cambridge Analytica scandal, a privacy breach of millions of Facebook users’ personal data that became a major corporate and political scandal. DC Attorney General Karl Racine filed the civil lawsuit against Zuckerberg in DC Superior Court. The lawsuit
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Twitter will face skeptical shareholders on Wednesday during its annual meeting, as doubt remains over whether the social media company will complete its deal to be acquired by billionaire Elon Musk at the agreed-upon price. The Tesla chief executive tweeted on May 13 that the $44 billion (roughly Rs. 3,41,300 crore) acquisition was “temporarily on hold” while
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US securities regulators have pulled their punches in dealings with Elon Musk largely because an April 2019 court hearing on a statement he made about Tesla on Twitter didn’t go their way, according to four sources with knowledge of the matter. The US Securities and Exchange Commission (SEC) asked the court to hold the billionaire in contempt,
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