TWITTER REVENUE
Inside the rise and fall of Indian Twitter rival Koo
Koo, the Indian social media platform aiming to rival Twitter, has closed down due to unsuccessful acquisition negotiations. The company struggled with funding challenges and workforce reductions amidst a competitive landscape.
Threads turns one with 175 million users. What’s driving the growth?
Meta’s Threads, launched July 5, 2023, by Mark Zuckerberg, hits 175 million monthly users, challenging Elon Musk’s X. Despite X's growth, Threads steadily climbs. It tested the ActivityPub protocol, launched an API, started a fact-checking program, posts appear on Mastodon. Instagram promotion boosts users amid political content policy criticism.
Social media companies list out worries as Centre readies data protection rules
Social media platforms have said that undoing behavioural tracking of children and targeted advertisements are among the biggest concerns they have with the new data law the government is prepping. The companies are voicing their concerns as rules of the Digital Personal Data Protection (DPDP) Act will be released soon.
Koo founders on why the social media app is shutting down
Once considered as a rival of X (previously Twitter), Tiger Global-backed Indian social media app Koo is shutting down operations. the company founder Aprameya Radhakrishna said on social media. "As for us, we are entrepreneurs at heart and you will see us back in the arena one way or another. Till then, thank you for your time, attention, good wishes and love," Radhakrishna posted on LinkedIn.
Apple is first company charged under new EU competition law
Apple is facing intense regulatory scrutiny globally, with charges in the EU, legal battles in the US, and regulatory actions in Britain, signaling a turbulent period for the tech giant in various markets.
New York lawmakers pass measure to protect youths on social media
New York state lawmakers passed legislation to protect children online by restricting social media platforms from exposing 'addictive' content to users under 18 without parental consent.
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Unacademy launches app to learn Spanish; Indian languages to follow
Unacademy's chief executive, Gaurav Munjal, announced in a post on the microblogging platform X (formerly known as Twitter) that their new app has surpassed 10,000 users and 100 paid customers. With over 5,000 downloads on the Google Play Store, the app is set to compete with the language learning app Duolingo.
Tesla shareholders advised to reject Musk's $56 bln pay
Proxy advisory firm Glass Lewis said on Saturday it has urged Tesla shareholders to reject a $56 billion pay package for Chief Executive Officer Elon Musk, which if passed would be the largest pay package for a CEO in corporate America.
Tesla shareholders advised to reject Musk's $56 billion pay
Glass Lewis, a proxy advisory firm, has advised Tesla shareholders to reject a $56 billion pay package for CEO Elon Musk, citing reasons like its "excessive size," potential dilution of shares, and Musk's involvement in time-consuming projects, including the purchase of Twitter. The package, proposed by Tesla's board, is based on the company's market value reaching $650 billion over 10 years. Glass Lewis also criticized Tesla's proposed move to Texas, calling it risky for shareholders. Tesla has defended the package, citing Musk's role in the company's growth.
EU queries X over cut to content moderation resources
The EU on Wednesday told digital platform X to explain a cut to content moderation resources, amid concerns over disinformation ahead of European elections in June. The European Commission said it wanted more information about X's "content moderation activities and resources" after a transparency report in April showed it has cut its team of content moderators by "almost 20 percent" since an October 2023 report.
Government adopted pro-poor approach in GST implementation, revenues reached pre-GST levels: Nirmala Sitharaman
Sitharaman's efficient tax administration highlighted in maintaining stable revenues with a pro-poor approach in GST implementation. Despite lower tax rates, revenues reached pre-GST levels, benefiting states. The turnover threshold rose, tax submissions reduced, and tax buoyancy improved post-GST implementation.
Netflix to stop reporting subscriber tally as streaming wars cool
Netflix halts quarterly subscriber reporting, signals growth slowdown. Stock falls on missed revenue forecast. Global total hits 269.6M. Ad-supported streaming attracts 9.3M. Focus on major milestones and competition from Walt Disney.
Reddit's US IPO filing reveals $90.8 million losses, 21% revenue growth in 2023
The initial public offering (IPO) filing comes almost two decades after Reddit's launch and will be a major test for the platform that still lags the commercial success of social media contemporaries such as Facebook and Twitter, now known as X.
Snap to invest more to continue conversation with young India: Snap India MD Pulkit Trivedi
In a letter to its shareholders, Snap had said it would shift more of its focus during the year to expanding Snapchat’s user base and investing in markets where it makes the most money, including North America and Europe. However, as per Trivedi, the Evan Spiegel-led company remains bullish on the India market.
Elon Musk wants 25% voting control at Tesla before fulfilling AI goal
Tesla CEO Elon Musk said he would be uncomfortable growing the automaker to be a leader in artificial intelligence and robotics without having at least 25% voting control of the company, nearly double his current stake.
Google, Meta and Tiktok's debts removed from Russian database
Fines imposed by Russian courts on Alphabet's Google and YouTube, Meta, TikTok and Telegram appear to have been settled as the companies are no longer registered as debtors in the state bailiffs' database.
Elon Musk assured bankers they won't lose money on loans for Twitter acquisition: Report
According to a report in the Financial Times, despite Musk's assurances, seven banks that lent money to Musk - Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho and Societe Generale - "are facing serious losses on the debt if and when they eventually sell it".
Ad sales of Elon Musk's X projected to slump to about $2.5 billion in 2023
X generated a little more than $600 million in advertising revenue in each of the first three quarters of the year, and is anticipating a similar performance in the current period, according to a person familiar with the numbers. That compares to more than $1 billion per quarter in 2022.
After Elon Musk tirade, X faces prospect of more advertisers fleeing
In a memo to employees on Thursday, which was seen by Reuters, X Chief Executive Linda Yaccarino said Musk's interview was "candid and profound," and encouraged staff to watch it. She reiterated that X's mission is to be an open platform without censorship.
Misinformation super-spreaders on X sharing ads revenue: Report
Some super-spreaders of misinformation on X, who are verified premium users with blue badges, are sharing Elon Musk's ads revenue even after making conspiratorial claims about the Israel-Hamas war, a new report has revealed.
X may lose up to $75 million in revenue as more advertisers pull out
Internal documents viewed by The New York Times this week show that the company is in a more difficult position than previously known and that concerns about Musk and the platform have spread far beyond companies including IBM, Apple and The Walt Disney Co., which paused their advertising campaigns on X last week
US ad revenue at Elon Musk's X declined 55% YoY each month since takeover
Brands have been wary of rapid changes under Elon Musk's ownership and the company has struggled to retain some advertisers since the takeover.
X introduces new $250 ad credit to lure back advertisers
According to the company, more than eight in 10 active advertisers on the platform are small and medium businesses
News organisations can also get a share of X's ad revenue: Elon Musk
In his latest bid to woo journalists after paying creators via his X advertising revenue programme, the X owner has now proposed a new way for media houses to make money.
Cash and chaos kickstart Twitter's ad revenue sharing program, users Xclaim
Since July, hundreds of Twitter Blue subscribers in India and around the world have been posting screenshots of the payouts they received as part of the company’s new monetisation program that rewards users with a share of the revenue earned from impressions (views) of verified users on the ads placed in replies to their tweets.
Income from ad revenue sharing by X liable to GST, if it exceeds threshold: Experts
In recent times, X (formerly Twitter) has started advertisement revenue sharing for its X Premium subscribers or verified organisations. The account needs to have 15 million organic impressions on the posts in the last three months and have at least 500 followers to be able to be part of this revenue sharing programme.
X lowers eligibility threshold for ad revenue-sharing with users
Clarifying the development, Elon Musk said only views from verified handles would be taken into account, as scammers would otherwise use bots to spike views.
X will fund legal bills of people who have been 'unfairly treated' for posting on platform: Elon Musk
After 17 years with an iconic blue bird logo that came to symbolise the broadcasting of ideas to the world, Musk renamed Twitter as X and unveiled a new logo, highlighting his focus on developing an “everything app.”
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