Having access to the internet is one of the keys to leveling the playing field for students. Sprint is working to bring internet access to a million low-income high school students. The 1Million Project is only a year old, and has already connected 85,000 students to the internet through free devices and services. Doug Michelman, President of The 1Million Project, says that they are on track to reach a million students within 5 years. The organization is currently active in 30 states. The 1Million Project has connected with over 1,300 high schools across 120 school districts.
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Opening Bell: May 11, 2018
Facebook is planning to launch its own cryptocurrency, Cheddar senior reporter Alex Heath has learned. A source says the social media company is "very serious" about building a digital coin for users to make secure online payments. This news comes just days after Facebook reorganized its executive leadership and created a team solely devoted to exploring blockchain technology. Dropbox stock is trading lower even after the company reported a successful first quarter. The cloud storage company beat estimates on earnings and revenue in its first quarterly report as a public company. Dropbox added 500,000 paid users, bringing its total number of paid users to 11.5 million. BUST Magazine will host its annual Craftacular event in Brooklyn this weekend. The event brings together dozens of local artists and businesses. We talk to Debbie Stoller, editor-in-chief and co-publisher of BUST Magazine, and Laurie Henzel, creative director and co-publisher of BUST Magazine, about what to expect.
Dropbox Falls Despite Earnings Beat, Amazon Pulls Ads From Google
Dropbox stock is trading lower even after the company reported a successful first quarter. The cloud sharing company beat estimates on earnings and revenue in its first quarterly report as a public company. Dropbox also added 500,000 paid users. The competition between Amazon and Google just got a little more interesting. Amazon has stopped buying Google Shopping ads, according to a report in Bloomberg. Amazon is increasingly expanding its reach in the digital ad market, a space that Google dominates.
Socially Conscious Consumers Got Spotify to Change Its Tune
The music streaming company's decision to stop promoting R. Kelly, who has been accused of sexually abusing women in a sex cult, was driven by a social push from its users, says Phillip Tracy, tech writer for the Daily Dot.
New Social App Wants You to Hang Out With Strangers
Dolo uses location to help users find people around them, encouraging them to meet new friends. Safety, of course, is a major concern and the app lets users go by fake names and mask their profile pictures, say the co-founders Raja Haddad and Ben Vigier.
Facebook Plans to Create Its Own Cryptocurrency
Facebook is developing a virtual token that would allow users around the world to make electronic payments. The news comes after the company announced its biggest-ever executive reshuffle, which put former Messenger chief David Marcus at the head of a new blockchain unit.
Elon Musk Has High Hopes for His Underground Tunnel
Musk claimed on Instagram that his first underground tunnel in LA is "almost done," pending final regulatory approvals, and promised his Boring Company will initially offer free rides to the public. But investors have come to take the Tesla CEO's bold promises with a grain of salt.
ANGI CEO: Merger of Angie's List and HomeAdvisor 'Has Been Very Powerful'
The newly formed company connects homeowners to service providers, such as plumbers and painters. ANGI Homeservices, which is one of the biggest revenue sources for its parent company IAC, has seen "strong demand from homeowners" since the merger a year ago, says CEO Chris Terrill.
Pulling Back the Curtain on the 'Internet's Highest Honor'
The Webby Awards have been running for over two decades and have evolved "as the internet has grown," says Claire Graves, executive director of the annual awards. Each year, the best of the best are rewarded for their contributions to the internet. This year, podcasts and games will be honored too. The awards will air on Tuesday.
Robinhood Raises Another $363 Million Amid Crypto Push
The free trading app, which now lists stocks, options, and two cryptocurrencies, also surpassed rival E*TRADE in terms of users. Robinhood will use its fresh funding to build out even more products, says Dan Primack, business editor at Axios.
