Tag: snap

Google, Facebook take bigger share of ad spending, but economic slowdown could hurt growth
9Feb By adminNo Comments
Technology

Google, Facebook take bigger share of ad spending, but economic slowdown could hurt growth

[ad_1]  Weak results from Google, Snap and other big sellers of online ads are raising concerns that Wall Street's optimistic growth forecasts are setting investors up for rude surprise this year.Google, which dominates the $270 billion digital advertising sector, recently disappointed Wall Street when its 8.9% fourth-quarter ad revenue growth fell short of expectations. Snap, which owns social media app Snapchat and also relies heavily on advertising dollars, reported discouraging revenue for its most recent quarter. The misses have raised concerns that Wall Street's forecast of up to 14% growth in digital advertising in 2024 may be too rosy. “Alphabet's disappointing ad revenue numbers suggest that corporations worldwide are still uncertain about the pace of interest rate cuts from gl...
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Snap, Okta to Amazon, Tech Layoffs Continue to Roil Industry With 32,000 Jobs Cut
6Feb By adminNo Comments
Technology

Snap, Okta to Amazon, Tech Layoffs Continue to Roil Industry With 32,000 Jobs Cut

[ad_1]  The tech industry has started 2024 with another wave of job cuts, paring back even further after widespread layoffs last year. So far, some 32,000 tech workers have lost their jobs in 2024 according to Layoffs.fyi, a startup that has been tracking job cuts in the industry since the pandemic. Snap Inc. became the latest example, announcing on Monday that it's reducing its workforce by about 10%, or around 540 employees. Earlier this month, software company Okta Inc. said it would eliminate 7% of its staff to reduce costs, affecting about 400 employees. The list goes on, including Big Tech employers like Amazon.com Inc., Salesforce Inc. and Meta Platforms Inc. This year, “tech companies are still trying to correct for their over-hiring during the pandemic surge, given that the hig...
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Teens on social media need both protection and privacy – AI could help get the balance right
1Feb By adminNo Comments
Technology

Teens on social media need both protection and privacy – AI could help get the balance right

[ad_1] Meta announced on Jan. 9, 2024, that it will protect teen users by blocking them from viewing content on Instagram and Facebook that the company deems to be harmful, including content related to suicide and eating disorders. The move comes as federal and state governments have increased pressure on social media companies to provide safety measures for teens.At the same time, teens turn to their peers on social media for support that they can't get elsewhere. Efforts to protect teens could inadvertently make it harder for them to also get help. Congress has held numerous hearings in recent years about social media and the risks to young people. The CEOs of Meta, X – formerly known as Twitter – TikTok, Snap and Discord are scheduled to testify before the Senate Judiciary Committee ...
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EU adds Meta, Snap to online child protection probes
12Nov By adminNo Comments
Technology

EU adds Meta, Snap to online child protection probes

[ad_1] The EU added Meta and Snap to a growing list of tech companies it is probing to see how they are complying with a new law meant to stop illegal content online. The European Commission said it has sent formal requests for information to Meta, parent of Facebook and Instagram, and Snap, which runs the Snapchat image and messaging app, on what measures they have taken to protect minors online. They have until December 1 to reply.The probes are only an initial stage under the EU's Digital Services Act, which came into force in August, and do not themselves constitute an indication of legal violations or a move towards punishing the companies. We are now on WhatsApp. Click to join. On Thursday, the commission opened similar probes into YouTube and TikTok, also to see what measures the...
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Australia slaps AUD$610500 penalty on X for non-disclosure of child abuse content
16Oct By adminNo Comments
Technology

Australia slaps AUD$610500 penalty on X for non-disclosure of child abuse content

[ad_1] In a significant move to address child sexual exploitation online, the Australian eSafety Commissioner has levied a fine against X, a prominent microblogging platform backed by Elon Musk. X has been ordered to pay a fine of $610,500 AUD (about $384,000 USD) due to its failure to provide critical information regarding the detection, removal, and prevention of child sexual abuse material. In addition to this, Google has also received a formal warning from the authorities for similar non-disclosure.A Call for Responsibility in the Digital AgeJulie Inman Grant, the eSafety Commissioner, has underscored the growing issue of child sexual exploitation online in Australia and globally. She emphasised the moral obligation of technology companies to protect children from such abuse on thei...
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Meta’s Threads to Raise Stakes for Snap, Pinterest
13Jul By adminNo Comments
Technology

Meta’s Threads to Raise Stakes for Snap, Pinterest

[ad_1] The arrival of Meta Platforms Inc.'s Twitter challenger further complicates the investment case for social media firms Snap Inc. and Pinterest Inc., whose share price recoveries lag their larger rival.Facebook parent Meta is by far the dominant player in the sector, and that is extending to its stock this year. Shares have outperformed by leaps and bounds, with the rapid user growth of Threads the latest demonstration of a reach and scale that has made it a favorite among investors and analysts. “It's hard to make a case for owning Snap or Pinterest over Meta, since there's no arguing that Meta is the strongest in the sector and the one that's mostly likely to get stronger,” said Jay Woods, chief global strategist at Freedom Capital Markets. While Threads is more of a direct comp...
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Snap Puts 10 Billion AI Chatbot Messages to Use Refining Its Ad Business
16Jun By adminNo Comments
Technology

Snap Puts 10 Billion AI Chatbot Messages to Use Refining Its Ad Business

[ad_1] Snap Inc., the maker of the Snapchat app, is testing ways that its popular new artificial intelligence chatbot can boost the company's advertising business.More than 150 million people — about 20% of Snapchat's monthly users — have sent 10 billion messages to the chatbot, called My AI, since it was introduced at the end of February, the company said Thursday. Users have asked about everything from skin care recommendations to details about the latest sports car. My AI, which calls itself the “virtual friend within Snapchat,” has already helped Snap diversify its revenue stream in a way many social media companies have struggled to do: through paid subscriptions. After the feature was first released to the app's paying users, Snap's total subscriber numbers rose to more than 3 mil...
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Halloween returns: How Augmented Reality Can Cut Down on Product Returns
29Oct By adminNo Comments
Technology

Halloween returns: How Augmented Reality Can Cut Down on Product Returns

[ad_1] One study found that consumers who used AR to try products virtually were less likely to send purchases back. With Halloween just around the corner, here's something scary: Americans are expected to spend close to $3 billion this year on costumes, according to the National Retail Federation, many of which only get worn once. Factor in the growing number of returns spawned by the rise of e-commerce, and the environmental impact of Oct. 31 can be frightening all on its own. A bit of technology could help. For the first time this year, costume company Disguise Inc. is partnering with Snapchat owner Snap Inc. on an augmented-reality lens that lets users try on costumes virtually and then order them directly from their phone. Snapchat users take a full-body photo and then browse ...
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Apple earnings rise as economic gloom hits tech
28Oct By adminNo Comments
Technology

Apple earnings rise as economic gloom hits tech

[ad_1] Apple Inc on Thursday reported revenue and profit that topped Wall Street targets. Apple Inc on Thursday reported revenue and profit that topped Wall Street targets, one of the few bright spots in a tech sector battered by spending cutbacks due to inflation. The forecast for the holiday quarter was more grim. While not providing specific numbers, Apple said revenue growth would fall below 8% in the December quarter but did not go as far as Amazon. com, whose dire holiday outlook sent its shares down 14%. Apple shares initially dipped in after-hours trading but recovered in positive territory. The Cupertino, California-based tech giant was saved by its oldest technology, its laptop computers, while its star, the iPhone, stumbled. Although iPhone sales were not as strong as som...
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Roblox and Discord Sued Over Girl’s Sexual Exploitation
6Oct By adminNo Comments
Technology

Roblox and Discord Sued Over Girl’s Sexual Exploitation

[ad_1] Roblox and Discord face a case alleging sexual exploitation of an 11-year-old girl by a predator while playing online games. Roblox Corp. and Discord Inc. are the latest targets in a wave of lawsuits over social media addiction, in a case alleging an 11-year-old girl was exploited by a sexual predator while playing online video games.The girl became acquainted with adult men through Roblox and Discord's direct messaging services, which she thought had safeguards protecting her, according to a statement by her lawyers at the Seattle-based Social Media Victims Law Center who have brought numerous other addiction cases. Wednesday's complaint in state court in San Francisco also blames Snap Inc. and Meta Platforms Inc. for the girl's mental-health difficulties and suicide attempts....
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