The Walt Disney Co. has “dramatically” slashed its advertising budget on Facebook and Facebook-owned Instagram, according to a report in the Wall Street Journal. It’s the latest setback for the social network, which is facing a growing advertising boycott over its policies and actions on hate speech on its platforms. The Journal, citing unnamed sources […]
SoftBank-backed Policybazaar aims for 2021 IPO
By Saritha Rai Online insurance platform Policybazaar aims to go public in 2021 at a valuation north of $3.5 billion, potentially becoming the first of India’s mega-startups to debut as its digital economy booms. The startup plans to secure about $250 million in a round of financing at a $2 billion-plus valuation before a September […]
How to turn a recession into a depression
Last week, the United States sent checks for $600 to approximately 25 million unemployed people. This amount effectively triples the average $350 per-week unemployment check from the states. As I argued in my new podcast episode this week (thank you for all the feedback and downloads, much appreciated!) distributing this money, at a cost of […]
Hackers tell the story of the Twitter attack from the inside
Representative Image A Twitterhacking scheme that targeted political, corporate and cultural elites this week began with a teasing message between two hackers late Tuesday on online messaging platform Discord. “yoo bro,” wrote a user named “Kirk,” according to a screenshot of the conversation shared with The New York Times. “i work at twitter / don’t […]
Digital payments widen gap with ATM withdrawals
There are early signs that India is finally turning into a digital payment economy less dependent on cash. For the first time, in the fourth quarter of 2019, the value of card and mobile payments at Rs 10.57 lakh crore exceeded ATM withdrawals which amounted to Rs 9.12 lakh crore. After overtaking cash withdrawals, digital […]
US coronavirus response disappointing: Facebook chief Mark Zuckerberg
Facebook chief executive officer Mark Zuckerberg said on Thursday he was disappointed in the US government’s response to the coronavirus, in particular in the undermining of advice from scientists about public health measures like mask-wearing and failures of mass testing to control the spread of the disease. “It’s really disappointing that we don’t have adequate […]
Covid-19: Facebook removes ‘misleading’ post by a doctor on Karnataka govt request
Representative Image Facebook removed a Hyderabad-based doctor’s post which offered potentially misleading medical advice including a blanket drugs prescription to Covid-19 patients on its social networking platform, heeding a first of its kind request from the Karnataka government amid the pandemic. The American social media company told ET it had removed the post of cardiologist […]
Ebay nears $10 billion sale of classified ads unit: Sources
Ebay has called a board meeting on Friday to select a buyer for its classified ads business in a deal potentially worth up to $10 billion, sources close to the matter told Reuters. The U.S. e-commerce giant will need to decide between two all-cash bids – submitted by online retailer Prosus and a private equity […]
YouTube brings back 1080p streaming option in India
YouTube has lifted restrictions on 1080p HD video streaming in India after limiting the streaming quality to 480p or Standard Definition (SD). At the end of March this year, YouTube had temporarily restricted its video playback quality for users in India to lessen the burden on servers. The streaming quality is only available when the […]
ETtech Top 5: Curefit downsizing, next-gen takes charge at HCL Tech & more
As gyms and fitness centres across the country remain shut, and with uncertainty looming over their reopening due to the Covid-19 pandemic, Curefit has cut more jobs and furloughed employees even as it looks to pivot to a ‘digital-first’ company. Meanwhile, India’s third-largest software services firm is witnessing a change of guard as part of […]