Muslims come into the frame in Southeast Asia’s fintech boom

Founded in 2014, Blossom Finance was first intended for Muslim entrepreneurs in the United States. The microfinancing platform connects investors with small businesses using mudarabah, a shariah-compliant profit-sharing agreement. But founder Matthew Joseph Martin soon realized that the startup, backed by investors like Boost VC and Tim Draper, was serving a relatively niche market in […]

Muslims come into the frame in Southeast Asia’s fintech boom by Catherine Shu originally published on TechCrunch

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Snap stock down 24% on weak earnings, ad revenue slump

Snap, the parent company of Snapchat, has seen its stock tumble 20% in after-hours trading after reporting first-quarter earnings Thursday. The company missed Wall Street revenue estimates of $1 billion, closing out the quarter with $989 million. That’s down 7% from the same period last year, and it represents the first time since Snap went […]

Snap stock down 24% on weak earnings, ad revenue slump by Rebecca Bellan originally published on TechCrunch

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Clubhouse needs to fix things, and today it cut more than half of staff

Clubhouse, a once skyrocketing social audio app built by Paul Davison and Rohan Seth, has laid off more than half of its staff. The startup’s co-founders made the decision in response to customer habits changing in a post-COVID world and remote work complexities, according to a blog post. Those who were impacted will receive severance […]

Clubhouse needs to fix things, and today it cut more than half of staff by Natasha Mascarenhas originally published on TechCrunch

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Daily Crunch: Citing slow growth and desire to be ‘at the forefront of the AI era,’ Dropbox CEO lays off 500

Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

Daily Crunch: Citing slow growth and desire to be ‘at the forefront of the AI era,’ Dropbox CEO lays off 500 by Christine Hall originally published on TechCrunch

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Researchers develop tiny hydraulic haptics for touchscreen notifications you can physically feel

If you find smartphone notifications annoying enough already thanks to their skill at exploiting the full range of distraction options available, whether dropping a banner from above or sprinkling pox-like red balls over your homescreen icons so as to lodge like grit in the eye, you should prepare yourself for even less subtle demands bubbling […]

Researchers develop tiny hydraulic haptics for touchscreen notifications you can physically feel by Natasha Lomas originally published on TechCrunch

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Meta updates its avatars with new body shapes, hair and clothing

Meta announced today that it’s introducing new body shapes, improved hair and clothing textures to its avatars. The company also announced that more than one billion avatars have been created across its platforms. Starting this month, users will be able to choose from a wider range of body shape options, including two curvier body shapes. […]

Meta updates its avatars with new body shapes, hair and clothing by Aisha Malik originally published on TechCrunch

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Flipping is much easier than walking

I wrote about half of last week’s Actuator on Wednesday in an empty office at MassRobotics after meeting with an early-stage startup. I’m not ready to tell you about them just yet, but they’re doing interesting work and have one of the wilder founding stories of recent vintage, so stay tuned for that. Also, shoutout […]

Flipping is much easier than walking by Brian Heater originally published on TechCrunch

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Instagram and Facebook will force their checkout experience on Shops soon

Meta announced today that it will be phasing out onboarding of new Shops without checkout on Facebook and Instagram enabled. Beginning April 24 of next year, Shops without checkout on Facebook and Instagram enabled will no longer be accessible. This means that shops that direct people to an e-commerce site to complete a purchase, rather […]

Instagram and Facebook will force their checkout experience on Shops soon by Aisha Malik originally published on TechCrunch

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What is this, revenue growth for ants?

Growth matters, but given the macroeconomic climate, smaller numbers are apparently OK as long as there are clear factors driving future revenue and profit.

What is this, revenue growth for ants? by Alex Wilhelm originally published on TechCrunch

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YouTube Music contractors win historic union vote

YouTube Music contractors have officially unionized with the Alphabet Workers Union-CWA after winning a historic vote through the National Labor Relations Board (NLRB). Forty-one workers voted yes out of a total of 49 eligible voters; the remaining eight workers did not vote. This election has meaningful implications for Google beyond YouTube Music. The union earned […] YouTube Music contractors win historic union vote by Amanda Silberling originally published on TechCrunch
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Meta says time spent on Instagram grew 24% thanks to TikTok-style AI Reel recommendations

Meta shared some updated engagement info around its platforms on its Q1 2023 quarterly earnings call on Wednesday, with Meta CFO Susan Li joining CEO and founder Mark Zuckerberg to field questions from analysts about its results. Zuckerberg shared that time spent on Instagram has grown more than 24% since the company launched Reels on […]

Meta says time spent on Instagram grew 24% thanks to TikTok-style AI Reel recommendations by Darrell Etherington originally published on TechCrunch

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Meta beats revenue expectations, remains committed to metaverse

Things are looking up for Meta. The company beat revenue expectations, reporting an increase in year-over-year revenue for the first time in three quarters. But this ray of light for the company formerly known as Facebook comes amid harsh restructuring, resulting in over ten thousand jobs eliminated this year. Tech moves through buzzwords like clockwork. […]

Meta beats revenue expectations, remains committed to metaverse by Amanda Silberling originally published on TechCrunch

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Daily Crunch: Lookout sells consumer security segment for $223M to become ‘pure-play enterprise company’

Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

Daily Crunch: Lookout sells consumer security segment for $223M to become ‘pure-play enterprise company’  by Christine Hall originally published on TechCrunch

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Vinfast’s EV ambitions just got a $2.5B boost

Vietnamese EV automaker Vinfast is getting a $2.5 billion injection of capital as it pursues an ambitious plan to woo U.S. consumers with a slate of electric SUVs and crossovers. Billionaire Pham Nhat Vuong, who founded Vinfast’s parent company Vingroup, committed Wednesday to invest $1 billion of his personal wealth via a grant in the […]

Vinfast’s EV ambitions just got a $2.5B boost by Kirsten Korosec originally published on TechCrunch

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UK’s TympaHealth sounds out $23M to expand its hearing diagnostics startup

The basic principle of Moore’s law — computing becoming more powerful yet more compact — is playing out in a number of fields, and one of the latest is coming from the world of audiology technology. TympaHealth, a London startup that has developed handheld hardware built around streamlined iPhone and Android devices, and corresponding software, […]

UK’s TympaHealth sounds out $23M to expand its hearing diagnostics startup by Ingrid Lunden originally published on TechCrunch

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