Facebook snaps up chatbot startup Kustomer for ecommerce push November 30, 2020 Facebook has agreed terms to buy customer service startup Kustomer as the social media platform prepares to expand further into ecommerce. Financial details were not disclosed but the Wall Street Journal, which first reported the deal, said the terms valued Kustomer at $1bn (£750m). Kustomer, which was founded in 2015, allows businesses to combine customer [...]
Tech giants hit with new rules amid calls to fix ‘dysfunctional’ ad market November 27, 2020 Facebook and Google will be subjected to tighter scrutiny over how they use consumer data as ministers face calls to fix the “dysfunctional” online advertising market. The government today announced the launch of a new digital markets unit aimed at curbing the dominance of tech giants and giving consumers greater control over their personal data. [...]
Social media firms to crack down on Covid-19 vaccine disinformation November 9, 2020 Major social media platforms have agreed a package of measures with the government in an effort to limit the spread of disinformation about any Covid-19 vaccine. Following a meeting with health secretary Matt Hancock and digital secretary Oliver Dowden, Facebook, Twitter and Google endorsed the principle that no company should profit from false or misleading [...]
Ghosted: Whatsapp rolls out disappearing messages in privacy push November 5, 2020 Whatsapp is introducing a new function that will delete messages from the app after seven days in an effort to ramp up its privacy credentials. The social media platform, which has more than 2bn users worldwide, said the new feature will help keep chats private and “more like a face-to-face conversation that is not recorded [...]
Screenshot: Will Tim Davie win the generation game? October 30, 2020 A weekly column from City PM bringing you all the biggest stories and trends in technology, media and telecoms This week: ** Media Moment of the Week: A sorry soy saga ** Tim Davie and the BBC’s tug of war ** The tech titans’ tumultuous year Media Moment of the Week This week it’s another [...]
Facebook revenue jumps as pandemic drives up traffic October 29, 2020 Facebook today posted better-than-expected revenue for the third quarter as higher user numbers during the coronavirus pandemic helped drive up revenue. The social media platform posted revenue of $21.5bn (£16.6bn) in the three-month period, up from $17.7bn last year. Net income rose from $6.1bn to $7.8bn. The bulk of the revenue was generated by advertising [...]
EU to ban tech firms from promoting their own services in new crackdown October 29, 2020 Tech giants will be banned from unfairly promoting their own services and will have to do more to crack down on harmful content under new rules being prepared by the EU. Competition chief Margrethe Vestager today proposed a raft of tough new laws and promised greater powers for enforcement bodies in a bid to tackle [...]
Tech earnings: What to look out for in a bumper day of Silicon Valley results October 29, 2020 All eyes will be on Silicon Valley tonight as the tech giants prepare to unveil their earnings for the third quarter. Google owner Alphabet, Amazon, Apple, Facebook and Twitter are all set to update investors on their trading during a turbulent period dominated by the coronavirus crisis. Earnings season for the so-called FAANG companies kicked [...]
Tech bosses blasted by US politicians over content moderation October 28, 2020 The bosses of Facebook, Twitter and Google faced attacks from US Senators this afternoon during a fiery hearing over how tech firms moderate content on their platforms. The tech chiefs were grilled by a US Senate committee for more than three and a half hours over Section 230 of the Communications Decency Act, which protects [...]
Facebook sued over Cambridge Analytica data scandal October 28, 2020 Facebook is being sued over its misuse of data during the Cambridge Analytica breach, opening the social media firm up to further fines for its role in the scandal. A group action lawsuit representing 1m users in England and Wales was filed today to gain “redress and compensation for the persistent mass misuse of personal [...]
