A Delaware judge ruled Tuesday that Elon Musk’s $56 billion multi-billion pay package is unfair, voiding the largest in compensation deal in corporate history. The decision, issued Tuesday in the Delaware Court of Chancery by Judge Kathaleen McCormick, means that Musk, the world’s richest person, can’t keep the 2018 compensation package. The ruling can be […]
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Move over, TikTok. Ofcom, the U.K. regulator enforcing the now official Online Safety Act, is gearing up to size up an even bigger target: search engines like Google and Bing and the role that they play in presenting self-injury, suicide and other harmful content at the click of a button, particularly to underage users. A […]
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Universal Music Group (UMG), the label representing artists including Taylor Swift, Billie Eilish, and Ariana Grande, says that it’ll pull its music from TikTok tomorrow at midnight after failing to reach a deal with the platform’s parent company, ByteDance, over royalties. UMG won’t seek to renew its current arrangement with TikTok, set to expire on […]
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Giant Ventures, a UK-based VC that has made a habit of investing on both sides of the Atlantic, is launching two new funds, totalling $250 million. Its previous fund totalled $100 million. The firm invests across climate, health, and what it calls ‘purpose-driven’ startups and some used to call ‘impact’ or ‘mission-driven’. Whatever the case, the […]
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You know you’ve screwed up when you’ve simultaneously angered the White House, the TIME Person of the Year, and pop culture’s most rabid fanbase. That’s what happened last week to X, the Elon Musk-owned platform formerly called Twitter, when AI-generated, pornographic deepfake images of Taylor Swift went viral. One of the most widespread posts of […]
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Welcome back to Found, where we get the stories behind the startups. This week Becca flew solo with Carly Zakin and Danielle Weisberg, the co-founders and co-CEOs of theSkimm, a digital media company delivering news through newsletter targeted at millennial women. Zakin and Weisberg talked about what market gap they wanted theSkimm to fill. They […]
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Block, the fintech company whose subsidiaries include Square, Cash App and Afterpay, is laying off staff at a tumultuous time for tech industry workers. That’s according to an internal memo from CEO Jack Dorsey, obtained first by Business Insider, which states that “the growth of [Block] has far outpaced the growth of … business and […]
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The Iconfactory, the maker of a popular third-party Twitter client, Twitterrific, that was among those killed off by Twitter under Elon Musk’s management, is hoping to recover from its losses with a new app that combines your social media, news feeds, and alerts into one experience. The app, dubbed “Project Tapestry” as it launches on […]
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One of the most popular streamers on Twitch, Pokimane announced today that she is leaving the platform. It’s not yet clear if she’s retiring from content creation altogether, or if she’s moving from Twitch to another platform. “twitch has been my home for a decade,” Pokimane wrote on X. “but it’s time to say thank […]
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Swedish medical device startup Acorai is pairing proprietary sensing hardware and machine learning software with the goal of putting a non-invasive heart pressure monitoring tool in the hands of clinicians — starting with doctors in the US. Patients hospitalized with heart failure typically need to undergo an invasive procedure, such as catheterization or having an […]
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SaaS needs a new data system. That’s the driving idea behind Nile, a startup that aims to create this data system with serverless Postgres at its core. Co-founded by Sriram Subramanian, the former head of cloud engineering at Confluent, and Gwen Shapira, the former engineering lead for the Kafka team at Confluent, Nile is building […]
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TikTok is experimenting with a feature that has the ability to make all posts on the app shoppable, as first reported by Bloomberg. The move is part of the company’s plans to turn TikTok Shop into a multi-billion dollar e-commerce business in the United States. TikTok confirmed that the feature is currently in limited testing, […]
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Inngest, a startup that makes it easier for developers to build and manage serverless backends, today announced that it has raised a $6.1 million funding round led by Andreessen Horowitz, with follow-on investments from GGV, Afore Capital and Vercel CEO and co-founder Guillermo Rauch, who all participated in the company’s $3 million seed round. At […]
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The SaaS startup, which provides software to solar installers, reportedly missed its growth targets for the past year.
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Fidelity has cut the value of its holding in Meesho by 33.6% since the original investment, giving the Indian social commerce startup a valuation of $3.5 billion, adjusted for outstanding shares. The U.S. asset manager valued its holding in Meesho at $27.8 million at December’s end, down from the $41.9 million that it invested in […]
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