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Mark Brooks
An authority on the business of social networking
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TECH CRUNCH - YouTube is set to eliminate 100 employees as part of Google's ongoing layoffs, following the dismissal of over 1,000 workers in various divisions last week. The job cuts at YouTube are attributed to restructuring changes in its creator management and operations teams. Affected employees can apply for other positions within YouTube, but there is no guarantee of retention. The layoffs are part of Google's efforts to become more efficient and align resources with its major product priorities. The tech industry has witnessed several companies, including Discord, Twitch, and Instagram, facing job reductions in the early weeks of the year. by Lauren Forristal See full article at Tech Crunch See the top news on YouTube Continue reading
Posted Jan 19, 2024 at Very Social Network
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TECH CRUNCH - Artifact, the news app by Instagram's co-founders, unexpectedly shuts down due to challenges in catching up with the competition, struggling to expand its user base globally, and facing stiff competition in the news aggregation market. Despite positive feedback, the app experienced a decline in downloads after its launch, with a core community sustaining its activity. Competition from news aggregators like SmartNews and changing news consumption habits impacted Artifact's growth. The app's expansion into various features, potential confusion about its identity, and limited international traction contributed to its closure, highlighting the complexities of the evolving news app landscape. by Sarah Perez See full article at Tech Crunch See the top news on Artifact Continue reading
Posted Jan 19, 2024 at Very Social Network
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TECH CRUNCH - Instagram is implementing "nighttime nudges" for teen accounts, prompting users to take a break if they spend over 10 mins on the app late at night. The nudges, after 10 PM, encourage teens to close the app and sleep. The feature is part of Instagram's efforts to reduce teens' screen time, complementing existing features like "Take a Break" and "Quiet Mode." Meta, Instagram's parent company, is facing regulatory scrutiny on child safety and has recently announced automatic content restrictions for teen accounts. These measures respond to concerns about the impact of social media on young users' mental health. by Aisha Malik See full article at Tech Crunch See the top news on Instagram Continue reading
Posted Jan 19, 2024 at Very Social Network
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PHOCUS WIRE - FlyMeOut is a groundbreaking invitation-only social travel club, uniquely combining the ease of Airbnb, the networking capabilities of LinkedIn, and exclusivity akin to Raya. With an impressive 10,000% growth in just 5 months, it caters to a discerning audience seeking quality connections and unique travel experiences. The platform offers curated trips, and discounted accommodations, and plans to launch subscription services, emphasizing safety, transparent community building, and clear trip itineraries. Founded by Zach Latos, a lawyer with prior successful entrepreneurial experience, and Sajal Rajaboj, a seasoned product development expert, FlyMeOut aims to redefine luxury social travel. See full article at Phocus Wire Continue reading
Posted Jan 18, 2024 at Very Social Network
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TECH CRUNCH - LinkedIn introduces "Job Collections," offering users curated sets of relevant job opportunities to explore. These collections span various industries, allowing users to discover positions aligned with their interests, such as remote work or specific sectors like healthcare and media. Additionally, a new "Preferences" page streamlines the management of job search preferences, encompassing factors like employment type, location, and minimum pay preferences. The platform also introduces the "I'm Interested" button, enabling users to express interest in working for a company privately. These updates aim to enhance the job search experience amid increased competition, with job applications on LinkedIn rising by an average of 16% per person per job. by Aisha Malik See full article at Tech Crunch See the top news on LinkedIn Continue reading
Posted Jan 18, 2024 at Very Social Network
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TECH CRUNCH - WhatsApp is boosting its Channels feature by introducing voice updates, polls, and the ability to have multiple admins. This upgrade aims to enhance engagement, particularly for content creators such as podcasters. The company highlights the popularity of voice messages, with users sending 7B daily. Additionally, channel updates can now be shared on personal WhatsApp Status, similar to Instagram's feature. With ~500M MAUs on Channels, WhatsApp continues to evolve its platform to meet the diverse needs of its global user base. by Ivan Mehta See full article at Tech Crunch See the top news on WhatsApp Continue reading
Posted Jan 18, 2024 at Very Social Network
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MARKETSCREENER - DatChat, a secure messaging, social media, and metaverse company, announced its intention to spin off its Habytat platform business into a new standalone public company. The move aims to enhance focus and streamline operations, allowing DatChat to reposition itself as a pureplay social media ecosystem, centered around its My Family Museum assets. DatChat plans to distribute its shares of SmarterVerse, the entity operating Habytat, to its shareholders. SmarterVerse is expected to become a standalone public company, with DatChat shareholders receiving a pro-rata distribution of its shares. See full article at MarketScreener See the top news on DatChat Continue reading
Posted Jan 17, 2024 at Very Social Network
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YAHOO FINANCE - 7 The analysis of Q3 earnings for social networking stocks highlights Snap (NYSE: SNAP) as the top performer, reporting revenues of $1.19B, up 5.3% YoY and beating analyst expectations by 7%. Snap's user base also grew, with 406M DAUs, marking an 11.8% YoY increase. The stock is up 75.6% since the results. Other companies in the analysis include Pinterest (NYSE: PINS), Nextdoor (NYSE: KIND), and Meta Platforms (NASDAQ: META). Meta delivered the fastest revenue growth, up 23.2% YoY, with 3.96B MAUs. by Kayode Omotosho See full article at Yahoo Finance See the top news on Snapchat See the top news on Pinterest See the top news on Nextdoor See the top news on Meta Continue reading
Posted Jan 17, 2024 at Very Social Network
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FIN CHANNEL - Facebook, with 3B MAUs, holds the top position among online social networks worldwide. The platform reached this milestone in just ~13 years, surpassing other platforms like Instagram and YouTube in terms of growth speed. As of January 2022, India boasts the largest Facebook audience base, with ~330M users, followed by the US. The parent company, Meta, encompasses various products, including Instagram, Messenger, WhatsApp, and Oculus. Despite Facebook's dominance, the social media landscape is evolving, with emerging preferences for video-first platforms like TikTok and YouTube among Generation Z users. See full article at The Financial See the top news on Facebook Continue reading
Posted Jan 17, 2024 at Very Social Network
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READ WRITE - Twitch CEO Dan Clancy acknowledges that the live-streaming platform is not profitable, revealing financial challenges just days after significant job cuts. Clancy emphasizes the need for Twitch to be the right size for long-term sustainability and assures commitment to the platform's important mission despite current financial strains. The admission sheds light on the pressures faced by Twitch amid increasing competition and financial hurdles. by Graeme Hanna See full article at Read Write See the top news on Twitch Continue reading
Posted Jan 16, 2024 at Very Social Network
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MASHABLE - YouTube is intensifying its efforts against ad blockers by deliberately slowing down load times for users employing these tools. This move follows a previous crackdown that began with warnings to users and prompts encouraging ad viewing or subscription to YouTube Premium. The deliberate slowdown aims to discourage ad blocking and provide what Google calls "suboptimal viewing" until users either disable ad blockers or subscribe to the premium service. by Anna Iovine See full article at Mashable See the top news on YouTube Continue reading
Posted Jan 16, 2024 at Very Social Network
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SOCIAL MEDIA TODAY - TikTok released a 9-page guide to assist marketers in optimizing their campaigns for Valentine's Day. The guide includes insights into user trends, popular hashtags, and preferred products related to the event. It also offers practical planning pointers, covering the best ad types and key angles for promotions. The focus on SMBs aims to help brands engage with TikTok's diverse audience and maximize visibility during the upcoming Valentine's Day festivities. by Andrew Hutchinson See full article at Social Media Today See the top news on TikTok Continue reading
Posted Jan 16, 2024 at Very Social Network
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TECH CRUNCH - Artifact, a news aggregator and social network founded by Instagram co-founders, is closing down. In a blog post, co-founder Kevin Systrom mentioned that the market opportunity for Artifact wasn't significant enough to justify continued investment. The platform had evolved from a news reading app to a curation and news discovery platform, facing competition in the crowded market of social networks and Twitter alternatives. Users will have time to transition, with various features gradually shutting down, and the core news capability remaining active until the end of Feb. by Sarah Perez See full article at Tech Crunch See the top news on Artifact Continue reading
Posted Jan 15, 2024 at Very Social Network
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TECH CRUNCH - Discord, the popular online community platform, is cutting 17% of its workforce, amounting to ~170 employees. CEO Jason Citron attributes the layoffs to over-hiring and rapid expansion, stating that the company grew fivefold since 2020, leading to inefficiencies. While Discord experienced significant growth during pandemic lockdowns, it continues to face financial challenges and seeks to improve organizational agility through this reduction in staff. This move follows other recent tech layoffs, including those by Unity, Twitch, and Amazon. by Morgan Sung See full article at Tech Crunch See the top news on Discord Continue reading
Posted Jan 15, 2024 at Very Social Network
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TECH CRUNCH - Meta's Threads, a decentralized app aiming to challenge Twitter, reveals its roadmap for integration with the fediverse, including Mastodon. The roadmap, discussed in a meeting with fediverse community members, outlines features such as visible Threads posts on Mastodon and plans to allow users to follow Mastodon accounts within Threads by early 2024. However, full interoperability and content moderation details are still under consideration, emphasizing Threads' ongoing efforts to navigate its move into the decentralized space. by Sarah Perez See full article at Tech Crunch See the top news on Threads Continue reading
Posted Jan 15, 2024 at Very Social Network
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THE INDEPENDENT - A report by Top10VPN reveals that Russia's ban on social media platforms, including Instagram, Facebook, and X, following the invasion of Ukraine, led to an economic loss of over £3.1B ($4.02B). The ban, ongoing since February 2022, was identified as the most damaging internet restriction globally in 2023, contributing to a total estimated cost of £7.06B ($9B) to the world economy due to 196 internet outages in 25 countries. The report highlights Russia as the most affected nation, with Ethiopia and Iran following in economic losses due to internet shutdowns. by Namita Singh See full article at The Independent Continue reading
Posted Jan 12, 2024 at Very Social Network
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BUSINESSWIRE - Paris-based social media app Wizz, catering to teens, is launching its first "Wizz House" in Miami, Florida, as part of its U.S. expansion. The weeklong content house features 12 social media influencers, including Andrew Pav and Atsuna Matsu, who will create content and engage with TikTok users to promote Wizz. With ~16M users, Wizz aims to provide a safe space for teens to connect globally. The influencers will use the physical Wizz House in Coral Gables for creating social content, highlighting the app's role in fostering spontaneous conversations and connections. See full article at Businesswire See the top news on Wizz Continue reading
Posted Jan 12, 2024 at Very Social Network
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TECH CRUNCH - ByteDance is discontinuing its music streaming service Resso in India at the end of this month to concentrate on expanding TikTok Music globally. Resso was one of ByteDance's last active properties in India after TikTok was banned in 2020. The Resso app has been removed from app stores, and new subscriptions cannot be purchased. ByteDance clarified that it doesn't plan to introduce TikTok Music in India. Resso, initially launched in 2020, ceased operations in Brazil and Indonesia in Sep 2023 after ByteDance launched TikTok Music in those markets. The company has expanded TikTok Music to Australia, Singapore, Mexico, Indonesia, and Brazil. by Ivan Mehta See full article at Tech Crunch See the top news on TikTok Continue reading
Posted Jan 12, 2024 at Very Social Network
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TECH CRUNCH - Amazon-owned live-streaming platform Twitch is reportedly set to lay off ~500 employees, constituting ~35% of its staff. This comes as the latest challenge for Twitch, which faced similar cutbacks in the past year amid leadership changes, rising operating costs, and community discontent. The platform has been struggling to achieve profitability, and recent efforts to prioritize ad revenue have not yielded the desired results. Twitch recently announced the closure of its service in South Korea due to "prohibitively expensive" network fees, contributing to the company's ongoing financial challenges. by Morgan Sung See full article at Tech Crunch See the top news on Twitch Continue reading
Posted Jan 11, 2024 at Very Social Network
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TECH CRUNCH - Female-founded startup Diem introduces a social search engine addressing "search engine gender bias" by providing a platform for women and nonbinary individuals to share personal stories and ask questions on various topics. Available as a web app and on mobile devices, Diem combines user-contributed content with AI, including ChatGPT, to offer answers from reputable sources summarized through a "feminine lens." The platform recently launched features like "Nominate Your Friends," "Spaces" for micro-communities, and "Daily Briefing." Diem has partnered with verified content providers in reproductive health and plan monetization features. by Lauren Forristal See full article at Tech Crunch Continue reading
Posted Jan 11, 2024 at Very Social Network
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TECH CRUNCH - YouTube has introduced First Aid Information Shelves to improve access to accurate life-saving information about basic first aid and emergency care. Pinned to the top of search results, these shelves feature videos from reputable health organizations, providing easy-to-follow guidance on topics like CPR, choking, bleeding, heart attack, stroke, seizure, and opioid overdose. This initiative aims to help users quickly access actionable first-aid information without encountering complex instructions. Initially launching in the US in English and Spanish, the feature will expand to include additional languages and countries in the future. by Aisha Malik See full article at Tech Crunch See the top news on YouTube Continue reading
Posted Jan 11, 2024 at Very Social Network
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TECH CRUNCH - Users of the Threads iOS app reported a new "Latest" option for search results, but Threads clarified that it was an internal prototype released accidentally to a small group. The feature wasn't intended for external testing, and the mistake led to its brief appearance. Instagram Head Adam Mosseri had previously explained that Threads avoided a chronological search to prevent misuse by spammers and bad actors, emphasizing the challenge of moderating vast amounts of content. by Ivan Mehta See full article at Tech Crunch See the top news on Threads Continue reading
Posted Jan 10, 2024 at Very Social Network
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TECH CRUNCH - Meta announces automatic restrictions on teen Instagram and Facebook accounts, limiting exposure to content related to self-harm, graphic violence, and eating disorders. The move addresses concerns about the impact of such content on young users. The changes involve hiding certain content in Feed and Stories, even if shared by someone a teen follows. Meta aims to provide a safer experience by placing all teen accounts in the most restrictive content control setting and encouraging them to update settings for increased privacy. These measures precede Meta's Senate testimony on child safety scheduled for Jan 31. by Aisha Malik See full article at Tech Crunch See the top news on Meta Continue reading
Posted Jan 10, 2024 at Very Social Network
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TECH CRUNCH - X unveils plans for 2024, featuring the launch of peer-to-peer payments, AI-powered experiences, and continued investment in creators. Elon Musk envisions users sending money on the platform, potentially introducing high-yield money market accounts. The company, licensed for payment processing in 14 U.S. states, aims to enhance user utility and commerce opportunities. AI advancements will power X's user and advertising experiences, including improved search, ads, and customer understanding. The roadmap outlines commitments to creators, content partnerships, original content, full-funnel ads, and brand safety, addressing concerns from advertisers. by Sarah Perez See full article at Tech Crunch See the top news on X Continue reading
Posted Jan 10, 2024 at Very Social Network
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PEW RESEARCH - The fact sheet provides insights into the online experiences of U.S. teens across various platforms. YouTube is the most common platform, with ~90% of teens using it, followed by TikTok, Snapchat, and Instagram. Usage patterns differ based on demographics such as age, gender, and race. Daily visits to platforms vary, with ~70% of teens visiting YouTube daily, 58% for TikTok, and less frequent use of Facebook. The fact sheet sheds light on constant usage trends and serves as a valuable resource for understanding teens' digital behaviors. See full article at Pew Research Continue reading
Posted Jan 9, 2024 at Very Social Network