Tech Meme

Lynn Doan / Bloomberg: Nick Clegg reiterates that Meta will end news content in Canada if C-18 passes, says he pulled out of a scheduled committee hearing after a session title change  —  Meta Platforms Inc. said it would end news content on Facebook and Instagram in Canada if lawmakers pass legislation … Lees verder op Tech Meme

Xinmei Shen / South China Morning Post: The Cyberspace Administration of China has launched a rare on-site inspection of Wuhan-based DouYu, the Nasdaq-listed game streaming platform backed by Tencent  —  China’s internet watchdog has launched a rare on-site inspection of video game live-streaming platform operator Douyu International Holdings … Lees verder op Tech Meme

Stephen Nellis / Reuters: LinkedIn to cut 716 jobs and shut down InCareer, its local jobs app in China, by August 9, citing fierce competition and a challenging macroeconomic climate  —  LinkedIn, the social media network owned by Microsoft Corp (MSFT.O) that focuses on business professionals, said on Monday … Lees verder op Tech Meme

Ryan Browne / CNBC: Ripple’s CEO says the company will have spent $200M fighting SEC’s lawsuit that accuses him, a co-founder, and Ripple of selling XRP as an unregistered security  —  – Ripple will have spent $200 million by the time its legal battle with the U.S. Securities and Exchange Commission is over, CEO Brad Garlinghouse said. Lees verder op Tech Meme

Nikhilesh De / CoinDesk: Crypto exchange Bittrex files for bankruptcy in Delaware; filing: the company estimates both its liabilities and assets to be between $500M and $1B  —  Bittrex already announced its intention to exit the U.S., but also faces an SEC enforcement action.  —  Crypto exchange Bittrex has filed … Lees verder op Tech Meme

Jennifer Surane / Bloomberg: PayPal reports Q1 total payment volume up 10% YoY to $354.5B, vs. $349.5B est., net revenue up 9% to $7.04B, and operating income up 41% to $1B; PYPL down 5%+  —  PayPal Holdings Inc. shares slumped after the payments giant warned that its adjusted operating margin won’t grow as quickly … Lees verder op Tech Meme

Ashley Capoot / CNBC: Palantir Q1: revenue up 18% YoY to $525M, vs. $506M est., and says its Artificial Intelligence Platform for private datasets is coming in May; PLTR jumps 23%+  —  – Shares of Palantir rose as much as 28% in extended trading Monday after the company released first-quarter earnings that beat analysts’ estimates on top and bottom lines. Lees verder op Tech Meme

Munsif Vengattil / Reuters: Truecaller plans to make its caller ID service available globally over WhatsApp and other messaging apps later in May to help users spot potential spam calls  —  Truecaller (TRUEb.ST) will soon start making its caller identification service available over WhatsApp and other messaging apps … Lees verder op Tech Meme

Manish Singh / TechCrunch: Filing: Invesco marked down Swiggy’s valuation to ~$5.5B in January 2023, from a reported $10.7B valuation in January 2022, when Invesco led Swiggy’s Series K  —  Invesco, which led Swiggy’s previous round, has marked down the Indian food delivery giant’s valuation in its holding to about $5.5 billion, according to a filing. Lees verder op Tech Meme

CNBC: Palantir Q1: revenue of $525M, up 18% YoY, vs. $506M est., says its Artificial Intelligence Platform for private data sets is coming this month; PLTR up 23%+  —  Palantir CEO Alex Karp said the company expects to remain profitable “each quarter through the end of the year.” Lees verder op Tech Meme