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Nepal Bans TikTok, Citing Disruption of Social Harmony

17Nov By PriyankaNo Comments

News

Nepal Bans TikTok, Citing Disruption of Social Harmony

In a recently held meeting, Nepal banned the immensely popular social media application, TikTok. The move comes in response to concerns regarding the app's impact on "social harmony" within the country. Foreign Minister Narayan Prakash Saud has announced the immediate enforcement of the ban. Minister Saud emphasized that the decision was crucial in order to regulate the usage of the social media platform, which had been causing disruptions to social order, goodwill, and the dissemination of indecent content. To foster accountability, the government has demanded that social media companies register and establish liaison offices in Nepal, fulfill tax obligations, and adhere to the nation's laws and regulations. While it remains unclear what specifically prompted this ban, speculation ...

24Apr By AdityaNo Comments

News

Facebook Testing ads on Instagram Reels

California, 04/24/2021: Zuckerberg led Facebook to start testing ads on Instagram Reels, a short video platform worldwide as it looks to help brands better engage with relevant audiences. In July last year, Instagram had unveiled its new format ''Reels'' that allows users to create and share short videos. Reels and other short video platforms have seen strong growth userbase and time spent after some countries having security issues with popular short video making platform TikTok. In a blogpost on Thursday, Facebook said people are discovering and watching video in diverse formats across its family of apps, each offering distinct viewer and ad experiences. "Today, we're announcing new topic targeting options within Facebook In-Stream video, testing of Instagram Reels Ads and o...

6Apr By reutersNo Comments

INDIA

India court says ByteDance should deposit $11 million in tax evasion case

Mumbai, 04/07/2021: An Indian court on Tuesday said China's ByteDance must deposit around $11 million that federal authorities believe the company owes in an alleged case of tax evasion, a setback for the firm which wanted to unblock its bank accounts to pay salaries. An Indian tax intelligence agency in mid-March ordered HSBC and Citibank in Mumbai to freeze accounts of ByteDance India as it probed some of the firm's financial dealings. ByteDance challenged the move in court saying the freeze amounted to harassment and was done illegally. ByteDance has said in court it does not owe the tax government is demanding and does not agree with the tax authority's decision to freeze its accounts. After a government counsel said ByteDance owed the authorities about 790 million rupees ($1...

Stripe Raises $600 Million, Becomes US Most Valuable Startup

15Mar By AdityaNo Comments

FUNDING

Stripe Raises $600 Million, Becomes US Most Valuable Startup

San Francisco, 03/15/2021: Digital payment company Stripe raises $600 million in funding at a valuation of $95 billion, The payment startup becomes US most valuable company surpasses Elon Musk's SpaceX. At the top TikTok owned ByteDance is the most valued digital company at around $180 billion in the world. Founded in 2010 by Patrick and John Collison, Stripe allows companies to accept online or in person card payments. Stripe has more than 50 companies each processing over $1 billion annually. Its list of customers includes Google, Uber and Amazon, and more recently shipping giant Maersk and Jaguar Land Rover. San Francisco and Dublin-headquartered company said it would use the capital to invest in its European operations and expand its global network. At $95 billion, Stripe ...

TikTok Agrees to Pay $92 Million to Settle Lawsuit Alleging Data Theft

3Mar By PriyankaNo Comments

News

TikTok Agrees to Pay $92 Million to Settle Lawsuit Alleging Data Theft

CHICAGO, 3rd March 2021-- US-based law firms will receive a $92 million proposed class action settlement on behalf of users of the TikTok app. The settlement, if approved by the court, would resolve claims that the social media company wrongfully collected its users’ biometric information and private data, and disclosed that information to third parties. In addition to creating a monetary fund for TikTok users, the settlement requires that TikTok initiate a new privacy compliance training program and take other steps to protect its users’ privacy going forward. TikTok is a video-sharing social network that has denied any privacy violations, the class action lawsuit contended that the app collects and discloses personal data in violation of the Illinois Biometric Information Priv...

Reddit Acquires Short Video Making Platform Dubsmash

14Dec By AdityaNo Comments

ACQUISITION

Reddit Acquires Short Video Making Platform Dubsmash

Calif., San Jose, Dec 14, 2020: Communities based social media platform Reddit has acquired short-form video social platform Dubsmash. The details of the deal have not been disclosed. In 2017, Reddit launched its first native video platform and now looking at the future growth Reddit want to expand in this area and dubsmash acquisition is just one of the example. Reddit in its press release said, "Video is increasingly core to how people want to connect, and as we continue to grow our community, we’re committed to providing the best possible tools users need to find, create, and interact with one another through video. " After this acquisition, Reddit will integrate Dubsmash’s innovative video creation tools, which empower Reddit’s own creators to express themselves thr...

Pakistan unblock TikTok after it vows to moderate content

19Oct By PriyankaNo Comments

News

Pakistan unblock TikTok after it vows to moderate content

ISLAMABAD, Oct 19, 2020: The Pakistan Telecommunication Authority decided to unblock the video-sharing app TikTok after receiving assurance from Tiktok management to remove the vulgar content. The spokesperson of PTA said the TikTok management has assured the authority that it will block all accounts repeatedly involved in spreading obscenity and immorality and moderate content in accordance with local laws. The authority has not announced whether the app will be unblocked immediately. The authority had said at the time of the ban that the decision was made after it received complaints ‘against immoral/indecent content’ on the app. The PTA said it had issued a final notice to the app and gave considerable time to respond and develop and an effective mechanism for ‘proactive moder...

28Sep By PriyankaNo Comments

USA

US Judge Suspends Trump Ban on Tiktok

Washington, 28th Sept 2020: U.S. District Judge Carl Nichols temporarily blocked President Donald Trump’s ban order on TikTok. U.S. District Judge granted a preliminary injunction against the ban on new downloads of the video-sharing network, which would have gone into effect at 11:59 p.m. in Washington. TikTok’s owner, ByteDance Ltd. applied for the hold after President Trump ordered the app ban despite of the company sold a stake in its U.S. operations to a domestic buyer. The ban would have removed TikTok from app stores run by Apple and Google. People who don’t yet have the app wouldn’t have been able to get it, and those who already have it wouldn’t have access to updates needed to ensure its safe and smooth operation. TikTok has been downloaded by more than 100 million...

Oracle acquire TikTok US, Microsoft bid rejected

15Sep By AdityaNo Comments

ACQUISITION

Oracle acquire TikTok US, Microsoft bid rejected

New York, Sep 15th, 2020: Satya Nadella led Microsoft lost a bid to acquire TikTok in the US after the Chinese owner of the video-sharing platform select Oracle to be its technology partner for its American operations, ahead of the September 20 deadline set by President Donald Trump that the popular app will be banned in the US if it isn't sold to an American company Microsoft said in a statement on Sunday that the Chinese owner of TikTok ByteDance has informed it that they would not be selling TikTok's US operations to Microsoft. We are confident our proposal would have been good for TikTok's users, while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, an...

Chinese Govt complicates TikTok sale ordered by US govt

31Aug By AdityaNo Comments

CHINA

Chinese Govt complicates TikTok sale ordered by US govt

New York, Aug 31, 2020 (AP): The Chinese government is complicating the US-government-ordered sale of US TikTok assets. China on Friday introduced export restrictions on artificial intelligence technology, seemingly including the type that TikTok uses to choose which videos to spool up to its users. That means TikTok''s Chinese owner, ByteDance, would have to obtain a license to export any restricted technologies to a foreign company. The Trump administration has threatened to ban TikTok and ordered ByteDance to sell its U.S. business, claiming national-security risks due to that Chinese ownership. The government worries about user data being funneled to Chinese authorities. TikTok denies it is a national-security risk and is suing to stop the administration from the threatened ban....

Walmart joins Microsoft bid to acquire video app TikTok

28Aug By PriyankaNo Comments

News

Walmart joins Microsoft bid to acquire video app TikTok

Washington, Aug 28, 2020: USA based world's largest retail store Walmart set to bid with Microsoft to acquire Chinese owned video app Tiktok. Walmart made a joint acquisition bid with Microsoft to acquire TikTok US business after the US President set the deadline to stop Tiktok operation in the USA. Microsoft provides cloud computing services that help run the retailer's stores and online shopping. The two companies signed a 5-year partnership in 2018, enabling them to join forces against a shared rival, online shopping giant Amazon. Walmart said in a statement that a deal with Microsoft and TikTok could help it expand its advertising business and reach more shoppers. TikTok has gained 100 million US users. But the White House is pushing TikTok's Chinese owner ByteDance to sel...

27Aug By NitishNo Comments

News

TikTok CEO resigns within 90 days

HongKong, Aug 27th, 2020: TikTok CEO Kevin Mayer resigned amid US pressure for its Chinese owner to sell the popular video app, which the White House says is a security risk. In a letter to employees, Mayer said that his decision to leave comes after the "political environment has sharply changed". His resignation follows President Donald Trump's order to ban TikTok unless its parent company, ByteDance, sells its US operations to an American company within 90 days. "I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for," he said in the letter. "Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decid...