TECH CRUNCH - YouTube is set to eliminate 100 employees as part of Google's ongoing layoffs, following the dismissal of over 1,000 workers in various divisions last week. The job cuts at YouTube are attributed to restructuring changes in its creator management and operations teams. Affected employees can apply for other positions within YouTube, but there is no guarantee of retention. The layoffs are part of Google's efforts to become more efficient and align resources with its major product priorities. The tech industry has witnessed several companies, including Discord, Twitch, and Instagram, facing job reductions in the early weeks of the year.
YouTube to Cut 100 Jobs in Ongoing Google Layoffs
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Instagram Co-founders' News App Artifact Shuts Down: What Went Wrong?
TECH CRUNCH - Artifact, the news app by Instagram's co-founders, unexpectedly shuts down due to challenges in catching up with the competition, struggling to expand its user base globally, and facing stiff competition in the news aggregation market. Despite positive feedback, the app experienced a decline in downloads after its launch, with a core community sustaining its activity. Competition from news aggregators like SmartNews and changing news consumption habits impacted Artifact's growth. The app's expansion into various features, potential confusion about its identity, and limited international traction contributed to its closure, highlighting the complexities of the evolving news app landscape.
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Instagram Introduces 'Nighttime Nudges' to Limit Teens' App Usage
TECH CRUNCH - Instagram is implementing "nighttime nudges" for teen accounts, prompting users to take a break if they spend over 10 mins on the app late at night. The nudges, after 10 PM, encourage teens to close the app and sleep. The feature is part of Instagram's efforts to reduce teens' screen time, complementing existing features like "Take a Break" and "Quiet Mode." Meta, Instagram's parent company, is facing regulatory scrutiny on child safety and has recently announced automatic content restrictions for teen accounts. These measures respond to concerns about the impact of social media on young users' mental health.
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FlyMeOut Is an Invitation-Only "Social Travel" Club
PHOCUS WIRE - FlyMeOut is a groundbreaking invitation-only social travel club, uniquely combining the ease of Airbnb, the networking capabilities of LinkedIn, and exclusivity akin to Raya. With an impressive 10,000% growth in just 5 months, it caters to a discerning audience seeking quality connections and unique travel experiences. The platform offers curated trips, and discounted accommodations, and plans to launch subscription services, emphasizing safety, transparent community building, and clear trip itineraries. Founded by Zach Latos, a lawyer with prior successful entrepreneurial experience, and Sajal Rajaboj, a seasoned product development expert, FlyMeOut aims to redefine luxury social travel.
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LinkedIn Unveils Job Collections and Enhanced Preferences for Efficient Job Searching
TECH CRUNCH - LinkedIn introduces "Job Collections," offering users curated sets of relevant job opportunities to explore. These collections span various industries, allowing users to discover positions aligned with their interests, such as remote work or specific sectors like healthcare and media. Additionally, a new "Preferences" page streamlines the management of job search preferences, encompassing factors like employment type, location, and minimum pay preferences. The platform also introduces the "I'm Interested" button, enabling users to express interest in working for a company privately. These updates aim to enhance the job search experience amid increased competition, with job applications on LinkedIn rising by an average of 16% per person per job.
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WhatsApp Enhances Channels With Voice Updates, Polls, and More
TECH CRUNCH - WhatsApp is boosting its Channels feature by introducing voice updates, polls, and the ability to have multiple admins. This upgrade aims to enhance engagement, particularly for content creators such as podcasters. The company highlights the popularity of voice messages, with users sending 7B daily. Additionally, channel updates can now be shared on personal WhatsApp Status, similar to Instagram's feature. With ~500M MAUs on Channels, WhatsApp continues to evolve its platform to meet the diverse needs of its global user base.
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DatChat Plans Spin-off of Habytat Platform as Standalone Public Company
MARKETSCREENER - DatChat, a secure messaging, social media, and metaverse company, announced its intention to spin off its Habytat platform business into a new standalone public company. The move aims to enhance focus and streamline operations, allowing DatChat to reposition itself as a pureplay social media ecosystem, centered around its My Family Museum assets. DatChat plans to distribute its shares of SmarterVerse, the entity operating Habytat, to its shareholders. SmarterVerse is expected to become a standalone public company, with DatChat shareholders receiving a pro-rata distribution of its shares.
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Snapchat Leads Q3 Social Networking Earnings With Strong Results
YAHOO FINANCE - 7 The analysis of Q3 earnings for social networking stocks highlights Snap (NYSE: SNAP) as the top performer, reporting revenues of $1.19B, up 5.3% YoY and beating analyst expectations by 7%. Snap's user base also grew, with 406M DAUs, marking an 11.8% YoY increase. The stock is up 75.6% since the results. Other companies in the analysis include Pinterest (NYSE: PINS), Nextdoor (NYSE: KIND), and Meta Platforms (NASDAQ: META). Meta delivered the fastest revenue growth, up 23.2% YoY, with 3.96B MAUs.
by Kayode Omotosho
See full article at Yahoo Finance
See the top news on Snapchat See the top news on Pinterest
See the top news on Nextdoor See the top news on Meta
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Facebook Leads Global Social Networks With Over 3B MAUs
FIN CHANNEL - Facebook, with 3B MAUs, holds the top position among online social networks worldwide. The platform reached this milestone in just ~13 years, surpassing other platforms like Instagram and YouTube in terms of growth speed. As of January 2022, India boasts the largest Facebook audience base, with ~330M users, followed by the US. The parent company, Meta, encompasses various products, including Instagram, Messenger, WhatsApp, and Oculus. Despite Facebook's dominance, the social media landscape is evolving, with emerging preferences for video-first platforms like TikTok and YouTube among Generation Z users.
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