Just last year, the world’s most valuable start-up, ByteDance, was being squeezed from all sides. For all the obstacles, the company kept growing. Now its founder, 38-year-old Zhang Yiming, is among the world’s richest people.
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Clubhouse, the buzzy, audio-based social network, is in talks to raise funding from investors in a round valuing the business at about US$4-billion, according to people familiar with the matter.
Facebook shares hit a record on Monday, with the social media company taking out a peak that has stood since August as fears fade about the impact of new privacy policies from Apple.
Shares of ByteDance, the Chinese parent of hit video app TikTok, are trading at a valuation of more than $250-billion in the secondary market, according to people familiar with the matter.
Twitter CEO Jack Dorsey tweeted his frustration with US lawmakers’ questions on the social media platform during a hearing about misinformation on Thursday.
Facebook has been interdicted and restrained by the Competition Tribunal from removing GovChat, a communications service used by the South African government, from its WhatsApp instant messaging platform.
Former US President Donald Trump, who has been banned from Twitter and other major social media platforms, said he’s working on his own platform to reach his followers that could be announced soon.
Facebook’s platforms, including online messaging service WhatsApp and photo-sharing app Instagram, were down for thousands of users on Friday, according to outage tracking website Downdetector.com.
Facebook has denied it intends sharing WhatsApp users’ contact lists with other Facebook properties when it introduces new terms and conditions soon that have caused an uproar among consumers.
Parler, the conservative social media platform, opened a new front in its legal battle with Amazon.com, accusing the tech giant of bad faith after being banished from its servers.