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The coronavirus pandemic is significantly slowing the growth of Facebook’s ads business, but investors seem pleased with the company’s performance in Q1 after Facebook released its earnings report Wednesday. The company beat Wall Street expectations on revenues, sharing that they had made $17.74 billion while falling short on earnings per share at $1.71. The company
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Despite traffic for many online properties being at an all-time high, advertising has fallen off a cliff because of the downturn in consumer activity outside the home and the wider economic pressures resulting from the COVID-19 pandemic. And today, Twitter reported quarterly earnings that bore this trend out. The ad-based social networking and media company said that
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The quarantine lockdown is driving a record number of users to Facebook’s products. On a conference call, CEO Mark Zuckerberg disclosed a number of new metrics highlighting a significant bump in Facebook usage during the broader quarantine lockdown. In the past month, more than 3 billion internet users logged onto a Facebook service, including its
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Researchers at NYU have identified hundreds of groups of Instagram users, some with thousands of members, that systematically exchange likes and comments in order to game the service’s algorithms and boost visibility. In the process, they also trained machine learning agent to identify whether a post has been juiced in this way. “Pods,” as they’ve
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Twitter has said that tweets posted early Tuesday morning by Tesla and SpaceX CEO Elon Musk that irresponsibly call for restrictions put in place to defend against the spread of COVID-19 don’t violate its guidelines around inaccurate or disputed information about the coronavirus that could cause harm. Musk tweeted a series of things on Tuesday,
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Now that the COVID-19 pandemic has forced millions into isolation, video games are seeing a surge in usage as people seek entertainment and social interaction. When we surveyed gaming-focused VCs in October, Andreessen Horowitz partner Jonathan Lai predicted that “next-generation games will be bigger than anything we’ve seen yet,” eventually reaching “Facebook scale.” This month,
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Jay Prasad Contributor Jay Prasad is chief strategy officer for LiveRamp TV, a data-connectivity platform leveraged by brands and their partners to deliver exceptional experiences. As the nation struggles with a pandemic and economic uncertainty, fundamental shifts in consumer habits are leading marketers to rethink existing strategies and budgets allocated to influencers and streaming TV.
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Instant messaging service Telegram has amassed 400 million monthly active users, it said today, up from 300 million active users the seven-year-old service disclosed to the SEC last October. The service — founded by Pavel Durov, who also created Russian social networking site VK — said it adds about 1.5 million users each day and
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Facebook’s major bet on Jio Platforms could create a headache for mobile payments services that have amassed tens of millions of users while struggling to find a business model in the world’s second-largest internet market. The $5.7 billion investment, Facebook’s second-largest to date, could also further its dominance in India — its biggest market by
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Facebook has enjoyed unparalleled reach in India for more than a decade. But as China’s fast-growing ByteDance emerges as a formidable competitor in what has become the world’s second largest internet market, the American giant has found the horse it wants to bet on in the new decade. Facebook announced today it has invested $5.7
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Facebook has agreed to block access to certain anti-government content to users in Vietnam, following months of having its services throttled there, reportedly by state-owned telecoms. Reuters, citing sources within the company, reported that Vietnam requested earlier in the year that Facebook restrict a variety of content it deemed illegal, such as posts critical of
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Facebook has already come under fire for hosting groups organizing anti-quarantine protests in response to government lockdowns amid the coronavirus outbreak, and those promoting fake coronavirus cures and misinformation. Now it’s trying to figure out what to do with the growing number of COVID-19 community groups on its platform worldwide. In hopes of better educating
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Facebook has expanded Fundraisers to India and is working with several additional state governments to provide authoritative information about the coronavirus to more people in the country, it said today. Fundraisers, which was available in the U.S. and Europe prior to Monday’s announcement, allows people to collectively contribute towards the community. The social juggernaut, which
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Home fitness and games as gathering places are a few of the startup verticals propelled by unprecedented shifts in behavior due to shelter-in-place orders. We surveyed the top investors in consumer and social apps to learn about 2020’s startup trends, the M&A climate, the threat of incumbents copying new entrants, underserved demographics and which features
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