TECH CRUNCH - UK-based fintech startup Shares has secured $90M in funding for its stock trading app. Initially available only in the UK, the company has now received authorizations from French regulators, enabling its expansion into France. Shares offers fractional shares and a social aspect, allowing users to follow friends, comment on trades, and join investor communities. Shares is set to launch in France next month and aims to enter other European countries using EU passporting rules, marking a significant milestone in its EU market expansion.
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Social Trading App Shares Receives EU Stock Trading License
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Microsoft Rebrands Yammer as Viva Engage for Enterprise Social Networking
NEOWIN - Microsoft has fulfilled its promise to rebrand its enterprise social networking and organization services, Yammer. The Yammer.com site has been renamed Viva Engage, along with other Yammer-branded apps and services. While Yammer URLs and APIs will remain unchanged until the end of 2023, they will automatically redirect to Viva Engage. On Jul 11, Microsoft will host a virtual event to unveil new features and address rebranding-related
questions.
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Reddit Is Already on the Rebound
WIRED - Reddit's recent policy changes, including blocking access to its content and implementing new data fees, sparked protests and a mod rebellion. However, signs indicate that Reddit is on the rebound. Pushshift, a service relied upon by moderators and researchers, has regained access to new posts. Reddit aims to reduce reliance on independent apps and is working on incorporating more accessibility and moderation features.
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Qlan Raises $200K in Pre-seed Round
ENTRACKR - Qlan, a social networking app for gamers and e-sports enthusiasts, has secured $200K in pre-seed funding. With ~100K downloads, the Mumbai-based startup offers features such as custom profiles, in-game stat syncing, matchmaking, squad building, content sharing, and gaming rewards.
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YouTube Reportedly Experimenting With Online Games
TECH CRUNCH - YouTube is reportedly testing an online game offering called "Playables" that would allow users to play arcade-style games via the YouTube website or app. The move comes after Google shut down its cloud gaming service, Stadia. YouTube has not confirmed the experiment but has stated that gaming has been a focus for the platform.
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ASIG Celebrates 10 Years of Innovation and Global Growth
PR NEWSWIRE - Asia Innovations Group (ASIG) marks its 10th anniversary as a leader in the mobile social industry, providing advanced technology products and apps for social, entertainment, e-commerce, and games. With ~600M users worldwide, ASIG has achieved milestones such as Uplive becoming the largest overseas live-streaming platform and Lamour becoming a top dating app in emerging markets. ASIG integrates cutting-edge AI technologies into its products, enabling social discovery, voice chat in the metaverse, and enhanced e-commerce experiences. The company has also made a positive ESG impact, empowering creators and receiving recognition for its innovative services.
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TikTok Kills BeReal Clone TikTok Now After Less Than a Year
TECH CRUNCH - TikTok is phasing out its in-app feature and standalone app called "TikTok Now," which aims to replicate the popular BeReal app experience. Despite heavy promotion, TikTok Now failed to gain traction among users. While BeReal's growth has been steady, reports indicate a decline in interest in BeReal-style apps.
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Telegram Is Adding Stories Next Month
TECH CRUNCH - Telegram CEO Pavel Durov has announced that the messaging app will launch Stories in early July, fulfilling a long-standing user request. Users will have control over their story visibility, with options to share with everyone, contacts, selected individuals, or close friends. Stories will be conveniently located at the top of the chat list, and users can hide stories by moving them to a "Hidden" list. Stories can be set to expire or permanently displayed like Instagram's Story highlights.
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WhatsApp Business Crosses 200M MAUs, Introduces Personalized Messages Feature
TECH CRUNCH - Meta has announced that WhatsApp Business now has ~200M MAUs, up from 50M in 2020. As part of its focus on efficiency, Meta has launched new features including easier ad creation and personalized messaging services for WhatsApp Business users. WhatsApp Business users can now create "click-to-WhatsApp" ads without a Facebook account and utilize automated personalized messaging.
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Social Messaging App IRL Shuts Down After 95% of Its Users Found to Be Fake
IANS - IRL, a social messaging app backed by SoftBank, is closing its operations after discovering that 95% of its users were automated or bots. The app, which had raised $200M in funding, suspended its CEO earlier for alleged misconduct. IRL had previously claimed 20M MAUs but found them to be mostly fake. The company plans to return capital to shareholders.
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Reddit Faces User Backlash and Volunteer Revolt Over New Policies
ZDNET - Reddit is experiencing a user revolt and volunteer backlash due to management's attempt to monetize the platform. The decision to charge for API usage has led to an ongoing blackout of popular subreddits, leaving millions of users unable to access their favorite communities. Despite the outcry, Reddit's CEO remains determined to stick with the new policies, risking the alienation of the platform's dedicated community. If Reddit continues on this path, it may suffer a fate similar to failed social networks like Digg, MySpace, and LiveJournal.
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Australia Mulls Huge Fines for Social Media Firms Allowing Fake News
AGENCE PRESSE - Proposed Australian laws could impose substantial fines on tech giants, including Facebook, Google, and Twitter, for failing to address disinformation. The legislation aims to establish mandatory standards in the largely unregulated sector, with penalties of up to 5% of global annual turnover. Stakeholders have until August to provide feedback on the proposed laws.
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The Rise of "Anti-Instagram": a Shift Towards Authentic Online Sharing
ENTREPRENEUR - The emergence of "anti-Instagram" apps highlights a growing desire for authenticity in social media. Filtered photos and staged posts have created an unrealistic portrayal of life online, leading to feelings of inadequacy and a fear of missing out. Apps like BeReal, TikTok Now, and RAW offer platforms that encourage genuine moments, unedited content, and vulnerability. These apps are gaining popularity, particularly among Gen Z users, signaling a shift away from perfectionism towards more honest and engaging digital experiences. Brands can also embrace this trend by adopting raw and unfiltered content to connect with their audiences.
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Meta to Pull News From Facebook and Instagram in Canada
TECH CRUNCH - Meta announced that it will end access to news content on its platforms in Canada in response to the Online News Act. The legislation requires internet giants to negotiate compensation deals with news publishers. Meta had previously threatened to block news sharing unless amendments were made to the bill. The move comes after the bill was approved by Canada's Senate and will become law soon.
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YouTube Integrates AI-powered Dubbing Tool
TECH CRUNCH - YouTube is collaborating with AI-powered dubbing service Aloud to test a new tool that automatically dubs videos into different languages. This feature builds on YouTube's support for multi-language audio tracks introduced earlier this year. Aloud's AI technology transcribes, translates, and produces dubbed versions, allowing creators to reach a broader international audience at no additional cost. The tool is being tested with select creators and will eventually be available to all.
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