Get ready for major changes coming to your Facebook Newsfeed. The social media giant said it will favor posts shared by friends over what's published by businesses or news organizations. In an effort to fight the spread of 'fake news,' the company will consider prioritizing media outlets based on credibility and polling data.
Dropbox is going public. The file-sharing company confidentially filed for an IPO, with Goldman Sachs and JP Morgan reportedly leading the offering. The San Francisco-based company was valued at $10 billion three years ago.
President Trump denied reports he referred to some nations as "shithole countries." The president reportedly made the comments during a bipartisan meeting on a potential DACA deal. Trump also blamed President Obama for his own decision to skip an upcoming visit to the United Kingdom.
Steve Case has been traveling the country in search of the next big thing, and he's eyeing Florida and Puerto Rico for the next leg of his journey. The former AOL CEO wants to find ー and invest in ー entrepreneurs outside the major coastal tech hub through his Rise of the Rest initiative. He told Cheddar Friday that the next big wave of innovation will come from the heartland, and he's putting his money where his mouth is.
Draftkings CEO Jason Robins told Cheddar that New Jersey residents alone could wager as much as $100 million on the Super Bowl, the first time sports betting will be legal there for the big game.
PopSockets, the company behind the massively successful grips attached to the back of mobile phones, is eyeing a potential initial public offering, CEO and Founder David Barnett told Cheddar Thursday. "We are considering an IPO. We're considering all options," Barnett said in an interview with Cheddar Thursday.
Amazon whipsawed after the bell, first surging and then erasing its earlier gains, after beating Wall Street expectations on its top and bottom lines, but reporting weak outlook.
The Swedish point-of-sale finance company quietly put up ads in the U.S. last year but made a splasher introduction earlier this month when Snoop Dogg became the face of its latest campaign.
That campaign, called Smoooth Dogg, featured the Afghan dogs from Klarna’s previous campaigns and coincided with the announcement that Snoop has become a minor shareholder in the fintech startup.
Food pickup app Ritual has big expansion plans. But its founder says the company's rapid growth can actually be traced back to a slower start. "Ritual's about your neighborhood, and I think what a lot of other companies did differently was they tried to go too broad too quickly, and they just lack the depth and coverage that Ritual has," Ray Reddy, co-founder and CEO of Ritual, told Cheddar Wednesday. "And we still approach the world neighborhood by neighborhood, and ensure that it's actually compelling."
Step aside, Siri and Alexa. VR studio Fable is relaunching as a "virtual beings" company to bring the public its first A.I.-powered character with whom users can have a two-way relationship. According to co-founders Edward Saatchi and Pete Billington, the rebranding ー which the two announced at the 2019 Sundance Festival ー is partly an effort to educate consumers about machine learning.
Microsoft shares dropped in extended trading on Wednesday despite reporting better-than-expected quarterly earnings due to investor concerns about its crucial cloud business.
Tesla shares sank in extended trading on Wednesday after reporting mixed earnings and revenue. The electric carmaker reported earnings per share of $1.93 cents on revenue of $7.23 billion, just missing expectations on earnings, but beating on revenue. Analysts surveyed by Thomson Reuters anticipated earnings of $2.20 per share on $7.08 billion in revenue.
Facebook soared in extended trading on Wednesday after reporting fourth-quarter earnings and revenue that beat Wall Street forecasts. Facebook reported earnings per share of $2.38 on revenue of $16.91 billion. That topped analysts' expectations for $2.19 earnings per share on $16.4 billion in revenue, according to Thomson Reuters.
