snap Snap Sees User and Revenue Growth in Q1 2024 Earnings Snap reports a 10% increase in daily active users and a massive surge in Spotlight watch time for the first quarter of 2024. The social media platform also achieves significant revenue diversification through Snapchat+ subscriptions and an expanding base of small business advertisers.
tiktok Senate Approves Controversial TikTok Ban Bill Amid First Amendment Concerns The U.S. Senate passes a bill forcing ByteDance to sell TikTok or face a nationwide ban, paving the way for a major legal battle. President Biden confirms he will sign the legislation into law immediately.
google Google Addresses Recent Errors in New AI Overviews Search Feature Google explains how its new AI Overviews feature works and responds to recent social media errors, noting that most viral screenshots are faked. The company emphasizes that the tool relies on top web results rather than simply generating text like typical chatbots.
google Google Explains Recent AI Overview Errors and Promises Improvements Following a wave of social media screenshots showing bizarre AI Overviews, Google clarifies how the feature works and why some errors occurred.
reddit Reddit Files for Long-Awaited IPO With Plans to Reward Top Users Reddit officially files for its initial public offering, revealing 2023 revenue of $804 million alongside a shrinking net loss. The social platform plans a unique approach by letting influential users and moderators buy shares at the offering price.
pinterest Pinterest Hits 518 Million Users as AI and Shopping Drive Record Quarter Pinterest experiences its fastest growth since 2021, reaching over half a billion monthly active users and beating revenue estimates thanks to AI and shoppable features.
openai OpenAI Partners With Reddit to Train AI Models on User Conversations OpenAI secures a licensing agreement to train its AI models on Reddit's vast repository of user posts and comments. The partnership also makes OpenAI an advertising partner on the social platform and sparks questions due to CEO Sam Altman's significant financial stake in Reddit.
openai OpenAI and Reddit Form New Content and Advertising Partnership OpenAI secures a deal with Reddit to integrate the platform's content into ChatGPT and explore new advertising opportunities.
tiktok Biden Prepares to Sign Landmark TikTok Divestment or Ban Legislation Congress sends a bill to President Biden that forces TikTok's Chinese parent company to sell the app or face a US ban. The president signs the measure into law, marking a historic move against foreign-owned social media.
tiktok Biden Signs Legislation Forcing TikTok Sale or U.S. Ban President Biden signs a bill requiring ByteDance to sell TikTok within nine months or face a U.S. ban. TikTok vows to challenge the law in court as unconstitutional.
tiktok House Fast-Tracks TikTok Ban Bill Through Foreign Aid Package The House passes a bill forcing TikTok's Chinese owner to sell the app or face a U.S. ban by attaching it to a major foreign aid package. The legislation now moves to the Senate for a potential vote.
tiktok House Approves TikTok Ban Bill Tied to Foreign Aid Package The US House passes legislation forcing TikTok to sever ties with its Chinese parent company or face a US ban. The bill now moves to the Senate as part of a broader foreign aid package.
reddit Reddit Stock Surges 48% in Long-Awaited NYSE Debut Reddit officially goes public on the New York Stock Exchange under the ticker RDDT, seeing its stock jump nearly 50 percent on the first day of trading. The successful launch marks the first major social media IPO since Pinterest in 2019.
reddit Reddit Stock Surges 48% on Debut as AI Data Strategy Attracts Investors Reddit closes its first day of trading up nearly 48 percent, driven by strong investor interest in its lucrative AI data licensing business.
reddit Reddit Debuts on NYSE With Strong 70% Pop in First Day of Trading Reddit finally goes public after nearly two decades, seeing its stock surge as much as 70% above its initial offering price. Despite the strong market debut, the social media company faces ongoing profitability concerns and a cautious IPO landscape.