According to an unconfirmed report published Tuesday by TechCrunch, the round will be led by Chinese internet giant Tencent Holdings Ltd., somewhat ironic given that Reddit was banned in China in August. Other investors in the round may include Sequoia Capital, Andreessen Horowitz and Y Combinator.
Founded in 2005 by University of Virginia students Steve Huffman and Alexis Ohanian, Reddit bills itself as the front page of the internet.
The site, a sort of amalgam between social networking a la Facebook and old-school online forums, was acquired by Conde Nast in 2006 before being spun off as a standalone company in 2011 on a $200 million valuation.
Despite being a private company that does not disclose figures, Reddit is believed to have 330 million monthly active users over 150,000 subreddits.
In the past, users could of course hit delete and the message would disappear from their own inbox, but that didn’t mean it was rubbed from the actual conversation for others.
There is a slight catch, however, in that users will only have ten minutes to make that decision.
The change is a consequence of a story broke by TechCrunch last year, which detailed how Chief Executive Mark Zuckerberg had given himself the executive power to change his mind and delete his own messages from other people’s eyes.
At the time, people had come forward and said that they had noticed that messages sent by Zuckerberg had mysteriously disappeared, showing to those people that there were holes in some conversations.
The 115 accounts Facebook took down yesterday for inauthentic behavior ahead of the mid-term elections may indeed have been linked to the Russia-based Internet Research Agency, according to a new statement from the company.
Facebook’s head of cyber security policy Nathaniel Gleicher issued this statement to TechCrunch:
“Last night, following a tip off from law enforcement, we blocked over 100 Facebook and Instagram accounts due to concerns that they were linked to the Russia-based Internet Research Agency (IRA) and engaged in coordinated inauthentic behavior, which is banned from our services.
Yesterday, Facebook had published that it would provide an update on whether the removed accounts were connected to Russia, as some were in Russian languages:
An independent assessment commissioned by Facebook found that the company needs to be doing more to prevent the incitement of violence in the country.
Some background: The social network became the primary means of online communication in Myanmar around 2013.
The news: Facebook released a report Monday by the nonprofit Business for Social Responsibility on the role it has played in inciting hatred in Myanmar.
—better enforce its community standards in Myanmar —engage with local organizations —share data on what has happened to evaluate human rights violations —develop AI that can improve responsiveness —start planning now for issues that could lead to further violence in the country down the road
Few companies have the capacity to take on Foursquare, a location discovery platform that leverages its massive database to provide users with personalized recommendations, Foursquare CEO Jeff Glueck said Friday.
"Other than Google and Facebook, we are the Switzerland," Glueck said in an exclusive "Mad Money" interview with CNBC's Jim Cramer.
"We are the sort of platform that everyone who's not Google or Facebook want to use because we understand the whole world's places and we understand different floors of buildings, where you go in malls," he continued.
Since Foursquare broke into the big data space, the company has used its deep data to help other companies enhance their location-based technology.
Facebook says it has eliminated a total of 82 Groups, Pages, and accounts that were linked to Iran and engaging in coordinated “inauthentic behavior.” These accounts were targeting users located in the US and UK, the company said in a statement today, and were meddling with political topics like immigration and race relations.
Platforms like Facebook have become an information battleground, spurring the rise of so-called fake news and the weaponization of trolling.
The issue came to mass attention following Facebook’s disclosure of 2016 election meddling on its platform.
In a blog post today, Facebook’s head of cybersecurity policy Nathaniel Gleicher detailed the discovery, saying that Facebook has found no ties between these accounts and the Iranian government.
The world’s most popular messaging platform has finally added the ability to send stickers in conversations and group chats.
In an official blog post on their website today, WhatsApp finally confirmed support for third-party stickers on the platform, with cross compatibility support between iOS and Android.
To use the new stickers on Android, you simply have to access the built-in WhatsApp emoji menu and scroll to the far right option.
WhatApp has enlisted the help of artists to help bolster the sticker options, but if we had to guess, we have to think that many of the sticker packs found on Facebook Messenger will find a new home on WhatsApp in the near future.
Facebook's chief executive has repeatedly declined to answer questions from UK MPs about the scandal
Facebook has been fined £500,000 by the UK's data protection watchdog for its role in the Cambridge Analytica data scandal.
The Information Commissioner's Office (ICO) said Facebook had let a "serious breach" of the law take place.The fine is the maximum allowed under the old data protection rules that applied before GDPR took effect in May.
Media captionJULY 2018: Ms Denham warns Facebook"Facebook also failed to keep the personal information secure because it failed to make suitable checks on apps and developers using its platform."Researcher Dr Aleksandr Kogan and his company GSR used a personality quiz to harvest the Facebook data of up to 87 million people.
The ICO found that more than one million people in the UK had their data harvested by the personality quiz.
The Information, quoting “four people familiar with the matter,” claims that the social networking giant has already approached several firms with acquisition offers.
Where the news gets odd is that the report claims that Facebook is trying to buy a cybersecurity company as part of an effort to counter negative news in relation to a hack that may have resulted in the details of as many as 50 million users being exposed.
Which company isn’t detailed but there is no shortage of security startups Facebook could acquire.
The Facebook hack in September, which is now believed to have affected 29 million users versus 50 million, may result in the company being fined by the European Union under the General Data Protection Regulation 2016/679.
Minds, a decentralized social network, has raised $6 million in Series A funding from Medici Ventures, Overstock.com’s venture arm.
“In June 2018, Minds saw an enormous uptick in new Vietnamese of hundreds of thousands users as a direct response to new laws in the country implementing an invasive ‘cybersecurity’ law which included uninhibited access to user data on social networks like Facebook and Google (who are complying so far) and the ability to censor user content,” said Minds founder Bill Ottman.
“There has been increasing excitement in recent years over the power of blockchain technology to liberate individuals and organizations,” said Byrne.
Interestingly, Minds is a model for the future of hybrid investing, a process of raising some cash via token and raising further cash via VC.
Political groups have been spending increasing amounts of money on Facebook adverts
An anonymous website has been using Facebook adverts to encourage British voters to email their MP and urge them "to bin Chequers" and back Brexit.Evidence given to the government's fake news inquiry found that a site called Mainstream Network had spent more than £250,000 on the pro-Brexit campaign.
No information is available to say who owns or funds Mainstream Network.It comes as Facebook announced new rules around political advertising - and its funding - earlier this week.The site now requires political advertisers to prove their identity and that they are based in the UK, before they can run political adverts.
Facebook faces its first testAnalysis by Rory Cellan-Jones, BBC technology correspondentLast week, Facebook launched its new transparency code for political advertising in the UK.Now that code, which is meant to show just how ads are targeted and who is paying for them, faces its first test.
Facebook election stewards with titles like "integrity software engineer," "elections software engineer," "core data scientist" and "escalations" operate from the Facebook election war room.
As the clock winds down before the run-off elections in Brazil and the midterm elections in the US, Facebook is trying to prove to both the public and lawmakers it's more prepared to combat election interference on its network.