Les Pounder / Tom’s Hardware: Report: Raspberry Pi Trading hired investment banks Stifel and Liberum to advice on a London IPO planned for this spring, that would value Raspberry at ~$500M — The listing could see Raspberry Pi valued at $500m — According to a report in The Telegraph, Raspberry Pi Trading …
Aditya Kalra / Reuters: Source: WhatsApp has almost 20M users in India using its payment services and received regulatory approval to double the number to 40M — WhatsApp (FB.O) has won regulatory approval to double the number of users on its payments service in India to 40 million, a source with direct knowledge told Reuters on Friday.
Jiyoung Sohn / Wall Street Journal: Gartner: global chip makers are projected to spend $146B this year, about 50% higher than before the pandemic and double the amount five years ago — Samsung’s $17 billion bet on Texas mirrors large spending increases in Asia and elsewhere — SEOUL—Investment in U.S. chip production is on the rise.
The Economic Times: Paytm reports Q2 revenue of $144.8M, up 64% YoY, and a net loss of $63M, up 8%+ YoY, in its first post-IPO earnings report — Bengaluru: Payments firm Paytm, in its first quarterly earnings as a public company, reported a nearly 64% jump in its consolidated revenue from operations …
Jing Yang / Wall Street Journal: Sources: Alibaba is delegating more responsibility to presidents of its business units to shed its monolithic image in the wake of China’s regulatory crackdown — CEO Daniel Zhang is devolving power to unit presidents as competition grows and big platforms come under pressure in China
Natasha Lomas / TechCrunch: UK’s CMA says Google has agreed to an expanded set of commitments as part of the regulator’s oversight in the development of Privacy Sandbox — As part of an ongoing antitrust investigation into Google’s Privacy Sandbox by the UK’s competition regulator, the adtech giant has agreed …
Brenda Goh / Reuters: Meituan reports fourth consecutive quarterly loss of $1.57B in Q3 on revenue of $7.6B; its core food delivery business posted revenue of $4.14B, up 28% — Chinese food delivery giant Meituan (3690.HK) reported a fourth consecutive quarterly loss on Friday, as it plowed more investment into expanding its various businesses.
Ryan Browne / CNBC: Klarna posts a pre-tax loss of $344M from January to September, up 4x YoY, and says it’s entered nine markets since the start of 2020 and now has 90M+ customers — – Klarna posted a pre-tax loss of 3.1 billion Swedish krona ($344 million) from January to September, a fourfold increase from the same period a year ago.
Michael Levenson / New York Times: Pinterest settles lawsuit by shareholders over allegations of discrimination by pledging $50M to overhaul its corporate culture and promote diversity — Pinterest pledged $50 million to overhaul its corporate culture and promote diversity as part of an agreement to resolve allegations …
Keith Zhai / Wall Street Journal: Sources: at least nine state-run Chinese firms, including China Mobile, tell staff to limit use of Tencent’s domestic chat app Weixin, citing security concerns — Employees were told to disband chat groups over security concerns, as Beijing’s scrutiny into Tencent grows
Jon Porter / The Verge: Twitter updates its iOS app to avoid timelines refreshing and causing tweets to disappear, after rolling out the update on web last week — ‘It should stay put!’ — Twitter has updated its iOS app to prevent those annoying situations where tweets disappear as you’re trying to read them, the company has announced.
James Marson / Wall Street Journal: How Belgian police infiltrated messaging service Sky ECC in February and March, gaining access to a billion messages and facilitating arrests and drug seizures — Criminals thought encrypted Sky ECC cellphones were impregnable, but cops tapped a billion messages, yielding arrests and drug seizures
Sneha Shah / The Economic Times: Indian used car marketplace Spinny raises a $285M Series E led by ADQ and Tiger Global at a $1.75B post-money valuation, after raising $108M in July — The company’s valuation of $1.5 billion pre-money has nearly doubled since it raised $108 million from Tiger Global and others in July.
Vikas Sn / Moneycontrol: India-based Dream Sports, which runs online fantasy platform Dream11, raises $840M led by D1, Tiger Global, and others at an $8B valuation, up from $5B in March — Dream11 spent heavily on advertising and promotions during the fiscal, in a bid to capitalise on the surge in mobile gaming in the country
Jonathan Haidt / The Atlantic: Regulators and legislators should mitigate Instagram’s harmful effects on teen girls by toughening COPPA and forcing Facebook and others to share data — Social media gets blamed for many of America’s ills, including the polarization of our politics and the erosion of truth itself.