ANI - Meta plans to launch a microblogging site called Barcelona to compete with Twitter by the end of June. The site will be linked to Instagram and allow posts with up to 500 characters. Users can easily switch between Instagram and the new microblogging site. The site is being alpha-tested, and hashtags may be used.
Meta Plans to Launch Microblogging Site by June-end
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YouTube Reverses Election Misinformation Policy
TECH CRUNCH - YouTube reverses policy on election misinformation, allowing false claims about 2020 election. Despite concerns, the company believes removing such content curtails political speech without reducing real-world harm. Specific false claims, like misleading polling places, are still prohibited. YouTube will provide updates on its 2024 election strategy soon.
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WeGoWhere Secures $1.2M to Revolutionize Offline Meetups
TECH IN ASIA - WeGoWhere, a Singapore-based startup co-founded by Ty Lertwichaiworawit, aims to enhance offline interactions and create more meaningful experiences compared to social media platforms like Facebook and Instagram. The app enables users to share plans with friends, discover nearby meetups, and simplify logistics for in-person gatherings. WeGoWhere recently raised $1.2M in a seed round led by 500 Global.
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BeReal Is Adding A Messaging Feature Called RealChat
TECH CRUNCH - BeReal is developing a chat feature. Initially launching in Ireland users will be able to privately message their friends, send front-back photos, and react with BeReal's custom emojis called RealMoji. Despite facing competition from other platforms, BeReal has attracted 20M DAUs and secured a $60M Series B funding.
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Reddit's New API Pricing Threatens Popular Third-Party App, Apollo
TECH CRUNCH - The future of Apollo, a widely used 3rd-party Reddit app, is uncertain due to Reddit's new API pricing terms. The app developer, Christian Selig, revealed that the updated pricing would cost him $20M annually to maintain the app's operations. Despite Reddit's assurances that the changes wouldn't affect 3rd-party apps, Selig discovered that the cost of 50M requests under the new terms would be $12K. The inflated pricing would render Apollo economically unviable, even if it restricted access to subscribers.
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Social Mapping Platform Atly Launches With $18M
TECH CRUNCH - Israeli startup Atly aims to revolutionize social location mapping with its app that combines elements of Reddit and Google Maps. Users can create theme-specific communities and become managers, setting engagement rules and permissions. With ~120K members and 6.5K communities, Atly plans to expand beyond the US market. The company raised $18M in funding and intends to monetize by offering subscription-based communities and tools for community managers to generate revenue.
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Snapchat Launches Generative AI Feature for Snapchat+ Subscribers
TECH CRUNCH - Snapchat recently introduced a new generative AI feature for its Snapchat+ subscribers. The feature allows users to send Snaps of their activities and receive generative Snaps back from the in-app chatbot, My AI. Although the feature seems to have limited practical value, with examples like receiving funny dog photos or recipe suggestions, it provides entertainment for users.
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Twitter Is Now Worth One-third What Elon Musk Paid
MASHABLE - Fidelity, an investment firm involved in financing Musk's purchase, now values Twitter at around $15B, a 33% decrease from the original price. Fidelity has consistently downgraded its holdings in the company since Musk took over, further reducing the value of its stake. Twitter's challenges include losing half of its major advertisers under Musk's leadership, and subscription-based revenue models like Twitter Blue and Subscriptions have failed to compensate for these losses.
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MyHeritage Launches Reimagine App, Using AI to Preserve and Enhance Old Photos
TECH CRUNCH - Genealogy company MyHeritage has introduced its new mobile app, Reimagine, which leverages AI to facilitate the preservation of family memories. The app allows users to import printed photos from albums and provides tools to improve their resolution, fix scratches and creases, restore color in black & white photos, and animate faces. Reimagine combines existing technology, such as MyHeritage's "Deep Nostalgia" feature, with new photo-editing tools designed specifically for preserving old photos.
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China Intensifies Social Media Crackdown, Deleting Posts and Accounts
GIZMODO - China's internet regulator, the Cyberspace Administration of China (CAC), has recently conducted a heightened crackdown on social media, deleting 1.4M posts and deactivating ~67K accounts. The CAC claims these actions were taken to combat misinformation and harmful content, but critics argue it is a form of political censorship. The crackdown targeted users on various platforms who shared news information not approved by the state, leading to the removal of accounts spreading fake news and impersonating businesses and institutions.
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Bangladesh Seeks Google and Facebook Data Centers to Boost Bandwidth Usage
DHAKA TRIBUNE - The Bangladeshi government plans to approach Google and Facebook to establish data centers in the country. Currently, Bangladesh imports bandwidth from India, which provides benefits at a lower cost compared to submarine cables. By attracting tech giants, the government aims to increase the utilization of submarine cables for bandwidth.
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Slick: Bridging the Gap in Personalized Social Connections
INC42 - Slick, a social media app founded by Archit Nanda and Rachit Bansal, aims to bring personalized connections and positive interactions back to social media. Launched in Nov 2022, the app allows users to anonymously compliment their friends. It has gained popularity, with 700K MAUs and 250K DAUs. Slick monetizes through microtransactions and may introduce a subscription model in the future. The app has raised $2.1M in funding and is focusing on user experience and attracting more users.
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Twitter Launches New $5K Per Month Data Access Plan
GIZ CHINA - Twitter announced a new subscription plan called API Pro, priced at $5K per month, targeting startups. This plan offers developers 1M retrieved tweets, 300K posted tweets, real-time filtered streams, complete archive search, and additional features. However, the high price is a barrier for many startups, and the $100 base plan is too limited.
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