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Inside the elite UK tech event attended by the rich and famous
  + stars: | 2021-06-18 | by ( Sam Shead | ) + 0.00   time to read: +2 min
Attendees of the annual Founders Forum event included the former U.K. Prime Minister David Cameron (who lives just up the road), ex-Finance Minister George Osborne, and the past and present U.K. tech ministers: Ed Vaizey and Oliver Dowden, respectively. "Founders Forum has emerged as the go-to destination for tech in Europe." For many it was the first in-person tech event they've been able to attend in over a year as a result of the coronavirus pandemic. Throughout the day, people kept saying how "weird" it was to be there as they fist-bumped and elbow-bumped one another. Everyone had to record themselves taking a Covid-19 test and getting a negative result in an app developed by Wise co-founder Taavet Hinrikus before they were allowed to attend.
Persons: David Cameron, George Osborne, Ed Vaizey, Oliver Dowden, Google's Matt Brittin, Facebook's Nicola Mendelsohn, Rich Waterworth, Eric Schmidt, Reid Hoffman, Eric Yuan, DeepMind, Mustafa Suleyman, Mike Lynch, Palantir, Alex Karp, Schmidt, Wise, Balderton —, they've, Taavet Hinrikus Organizations: Finance, TikTok, YouTube, LinkedIn, Google, Autonomy, HP, Index Ventures, Atomico Locations: Soho, England, Europe, Sequoia
The U.S. Department of Commerce may issue subpoenas to collect information about certain smartphone, tablet and desktop computer software applications. Then the agency may either negotiate conditions for their use in the United States or ban the apps, according to people familiar with the matter. L2N2NR1IWU.S. officials share many of the concerns Trump cited in his order banning TikTok, according to one person familiar with the matter. The new order could end up capturing more apps than the final Trump orders because of a stronger legal framework. The order will apply to business apps, including those used in banking and telecommunications, as well as consumer, the first source said.
Persons: Eric Thayer, Joe Biden’s, Donald Trump's, Trump, Biden, Gina Raimondo, Raimondo, Biden's, Ant Group's, Tencent, VMate, Karen Freifeld, Chris Sanders, Cynthia Osterman Organizations: Department of Commerce, Washington , D.C, REUTERS, U.S . Department of Commerce, Tencent Holdings, HK, Trump, U.S . Commerce, Federal Register, Commerce, Companies, Alibaba Group, SS, WPS, Thomson Locations: Washington ,, U.S, China, Russia, United States, TikTok . U.S, Washington, Beijing, UCWeb, Iran, Venezuela
TikTok owner ByteDance’s 2020 revenue soars, net loss at $45 bln - memo
  + stars: | 2021-06-17 | by ( ) sentiment -1.00   time to read: +1 min
BEIJING, June 17 (Reuters) - TikTok owner ByteDance’s total revenue more than doubled last year to $34.3 billion but its net loss widened to $45 billion, according to a company memo seen by Reuters. The widening of the loss was partly attributable to accounting norms for share-based compensation of employees, a person familiar with the matter said. Reuters has reported that ByteDance, one of the world's biggest private tech companies with an estimated value of about $300 billion in recent trades, had a revenue goal of around $30 billion for 2020. It had 1.9 billion global monthly users in December 2020 for all its apps including TikTok, its Chinese version Douyin and news aggregator Jinri Toutiao. read moreReporting by Yingzhi Yang and Tony Munroe; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.
Persons: ByteDance, Zhang Yiming, Yingzhi Yang, Tony Munroe, Muralikumar Organizations: Reuters, Thomson Locations: BEIJING, Beijing
ByteDance Ltd., the owner of popular short-video app TikTok, told employees that its revenue last year more than doubled to $34.3 billion, underscoring why the Chinese technology giant is one of the world’s hottest startups. ByteDance had about 1.9 billion monthly active users across all its platforms as of December 2020, according to the memo. From the Archives Video-sharing app TikTok has come to rival some of the world’s most popular social-media platforms in just a few years. WSJ looks at how Chinese startup ByteDance took TikTok to the masses and why it attracted regulatory scrutiny. Kuaishou’s market capitalization was recently about $103 billion, and the company reported 2020 revenues equivalent to about $9.2 billion.
Persons: ByteDance, Zhang Yiming, Jaden Urbi, TikTok, Donald Trump’s, Biden, Zhang, — Raffaele Huang, Liza Lin Organizations: ByteDance, Wall Street, KKR, Co, Sequoia Capital, General Atlantic, Fidelity Investments, Inc, Cyberspace Administration Locations: Beijing, Hong Kong, New York, China, U.S, ByteDance, Liza.Lin
GUANGZHOU, China — ByteDance, the owner of TikTok, saw its revenue for 2020 more than double, a person familiar with the matter told CNBC. Revenue for last year totaled $34.3 billion, up 111% year-on-year, senior management at the company told employees in a company-wide meeting. Gross profit rose 93% to $19 billion, the person who attended the meeting said. ByteDance had 1.9 billion monthly active users by the end of 2020 across all of its platforms — which include its widely popular short video app TikTok, the Chinese version Douyin, and news aggregation app Toutiao, among others. The rapid growth underscores the excitement around ByteDance, a private company, and why its valuation has reportedly been pegged north of $100 billion.
Persons: China —, Gross, ByteDance, Shou Zi Chew Organizations: CNBC, Revenue, Street Journal Locations: GUANGZHOU, China
Singers, actors, and artisans have a fashionable identity these days — "creators" — as well as their own "creator economy." For platforms like YouTube, Twitter, and TikTok, creators are a golden opportunity to create more profit. He and his partner Yuanling Yuan are authors of the firm's "Creator Economy Market Map," a cogent and comprehensive explanation of the trend. As is usually the case, aggressive and well capitalized tech companies are the best positioned to profit from all this. The Information, a tech-industry trade publication, has created a newsletter, "Creator Economy," a hyper-informative compendium of the industry's new goings on.
Persons: , Twitch, Josh Constine, VCs, Fred Wilson, Andreessen, Horowitz, Yuanling Yuan, Constine, Cecilia D'Anastasio smartly, didn't, I'm, Timothy Norris, Salesforce, Techland, that's, I.F, Stone Organizations: Twitter, Neighborhood, YouTube, Amazon, Naval, Wired, Spotify, Journalists, Getty, Stone's, Microsoft, Apple, Adobe, New York Times Locations: Silicon Valley
A report from 'Gen Z' influencer agency Fanbytes breaks down how fashion brands can go big on TikTokThe report outlines popular TikTok fashion trends, such as #cottagecore and the #GucciModel Challenge. Fashion content on TikTok is huge, and brands want in. Its new 32-page fashion and TikTok report, published last month, details how brands can get noticed on the popular video platform. Fashion brands shouldn't feel the need to create "hashtag challenges" to find TikTok success"Challenges" are popular on TikTok, but brands shouldn't feel pressure to create their own. The report also points out that fashion brands could consider leaning into popular hip-hop sounds on TikTok — not least as so many hip-hop tracks reference luxury brands.
Persons: Fanbytes, Gen, cottagecore, Cassandra Russell, hashtag, Dior, Balenciaga, Gucci Organizations: Twitter, Brands, Fashion, Gucci Locations: New York, Europe, Africa
Instagram officially brings ads to its TikTok competitor Reels
  + stars: | 2021-06-17 | by ( Megan Graham | ) + 0.00   time to read: +3 min
(Photo Illustration by Valera Golovniov/SOPA Images/LightRocket via Getty Images)Instagram is bringing ads to its short-form video service and TikTok copycat Reels on Thursday, following a test. "I think brands are getting quite sophisticated in how they use new short-form video formats, including Reels, to tell their own stories. Google's YouTube has followed suit with its own short-form video feature called Shorts. When it comes to usage, TikTok is increasingly a challenger in the U.S. An eMarketer report released this month said adult users of TikTok will spend more time on TikTok than adult Facebook users spend on Facebook this year. But as it pertains to advertising, Instagram's parent company, Facebook, is still a juggernaut in comparison.
Persons: Valera Golovniov, Justin Osofsky, They'll, Osofsky, Adam Mosseri, TikTok Organizations: Getty, CNBC, YouTube, Facebook Locations: UKRAINE, U.S
Insider found videos and hashtags with millions of views promoting harmful eating-disorder content. The number of videos on certain eating-disorder hashtags was up 253% from last year, analysis found. One of the TikTok videos that Insider found showed a user displaying a diet of chewing gum and water. "The ease with which harmful content promoting eating-disorder behavior can be found on TikTok is really concerning, and we call on TikTok to address this urgently." But, he added, it's also easier to find harmful content on TikTok.
Persons: TikTok, hashtags, TikTok —, , Kyra IQ, there's, Tom Quinn, Kyra IQ's, Kyra, TikTok Quinn, it's, Quinn, Molli Johns, I've, Johns, BBC's Organizations: Guardian, Beat, Federal Trade Commission
As California reopens from the COVID-19 pandemic, videos emerged of people lined up for Disneyland access. Masses of people without masks stood in lines for hours to get into the theme park. New state policies allow Disneyland to return to full capacity and drop mask requirements for people fully vaccinated for the coronavirus. One user posted a video on Instagram showing people lined up along roads for several blocks, waiting for hours to get into Disneyland. On Wednesday, one user said she had been waiting outside the park behind masses of park visitors since 5 am.
Persons: Gavin Newsom Locations: California, TikTok
VidCon, the annual online video convention that has become the biggest event in the influencer industry, is returning to the Anaheim Convention Center in California this fall. And it has a new top sponsor: TikTok. TikTok, which was introduced in the United States in 2018, made a memorable appearance at the last VidCon, in 2019. Its splashy party drew such a crowd that hundreds of creators were left standing at the entrance. TikTok will bring many of the app’s top creators to appear at events, and an executive at the company will deliver the keynote address.
Organizations: Anaheim Convention, Variety, YouTube Locations: Anaheim, California, United States
TikTok marketed its platform to potential advertisers at the 20221 IAB NewFronts event. The company shared the secrets of how household names managed to drive sales from the app. It explained why it's important to trust creators to deliver messages authentically. The 42-minute recorded session broke down in detail why TikTok is the place to advertise — and included plenty of case studies on how to make it big on TikTok. Here are some of the highlights and key stats from the presentation.
Persons: TikTok Organizations: Interactive
How the influencer-marketing agency Mediakix unraveled
  + stars: | 2021-06-16 | by ( Amanda Perelli | ) + 0.00   time to read: +7 min
Hi, this is Amanda Perelli and welcome back to Insider Influencers, our weekly rundown on the business of influencers, creators, and social-media platforms. Mediakix Mediakix; Sydney Bradley/Business InsiderMediakix, a prominent influencer-marketing agency, was acquired by Stadiumred Group in 2020. Sydney Bradley reported that most Mediakix staffers have now left the company and its phone line is seemingly disconnected. Insider spoke with 10 former staffers of Mediakix or Stadiumred; most spoke on the condition of anonymity. Tweets posted by several influencers continued into 2021 through May, and agents and managers were talking about Mediakix, too.
Persons: Amanda Perelli, Michael Espinosa, Michael, Mediakix, Sydney, Sydney Bradley, influencers, Evan Asano, Asano, Stadiumred, Claude Zdanow, Influencers Bryce Hall, Austin McBroom, Cliff Hawkins, Dan Whateley, they've, YouTuber Logan Paul, Floyd Mayweather, YouTuber Jake Paul, Ben Askren, LiveXLive, it's, Preston Seo, Seo, Stamps, Kelly, Kelly Stamps Kelly Stamps, she'd, Molly Innes, Addison Rae, Andrew Gombert,, Josh Richards, Griffin Johnson, they're, Hawke Media's Erik Huberman, Richards, Magic Johnson, Kim, Kourtney Kardashian, David Livingston Organizations: Twitter, Sydney Bradley, Stadiumred Group, MediaKix, influencers, Companies, Showtime, Creator Fund, Kelly Stamps, YouTube, Los Angeles Times, Getty, Universal Music Group, Animal, A3 Artists Agency, NBA, Cameo's Locations: New York City, TikTok, Sway, WME
You May Not Want to Get Your Beauty Tips From TikTok
  + stars: | 2021-06-15 | by ( Jessica Schiffer | ) + 0.00   time to read: +2 min
In April, drinking chlorophyll, which has had moments on other social media platforms, had a spike in interest on TikTok, driven by the endorsements of influencers like Amelie Zilber, according to Traackr, an influencer marketing platform. Drinking chlorophyll is one of the more harmless recommendations on TikTok, but it’s likely a waste of money. (Sakara Life’s Detox Water Drops with chlorophyll cost $39, and raw chlorophyll drops on Amazon cost about $20, on average.) Microneedling, which involves puncturing the skin with tiny needles in an effort to generate new collagen. On TikTok, conversation around at-home microneedling grew in 2020 and is already experiencing five times more engagement in 2021, per Traackr, but experts say it’s incredibly risky to do at home.
Persons: Dr, Nathan, Amelie Zilber, Sonpal, microneedling, , Engelman Organizations: American Academy of
He told Insider how much he makes from affiliate links, sponsorships, and TikTok's Creator Fund. How much Seo earns from sponsorships and TikTok's Creator FundSeo also earns money as a creator directly from TikTok, and through sponsorships. Once they reach that threshold, they can apply for TikTok's Creator Fund through the app. His most popular videos feature topics like how to make money online (14 million views), how to negotiate the price of a car (11 million views), and the stock market (2 million views). For instance, TikTok creator Kyd Mike (2 million followers) told Insider in 2020 that they earned $119.87 from TikTok's Creator Fund between August 18 and 22, 2020 – averaging $23.97 in earnings per day.
Persons: Preston Seo, Seo, he's, It's, who've, Kyd Mike Organizations: Finance, Public Locations: TikTok
I made it a goal to bulk up my emergency fund in 2021, and TikTok is helping me get there. The pandemic really made me get serious about making sure I had a healthy emergency fund. That's why one of my biggest financial goals of the year includes putting a steady stream of cash into my emergency fund. Here are some of the inspiring ideas that have helped me get back on track with my emergency fund contributions on a monthly basis. Putting an extra $1,000 in my emergency fund just by selling unused or unneeded items around my house is a major win for my savings.
Persons: I've, I'm, TikTok, I'd Organizations: Finance
Influencers, such as the D'Amelio family and Tana Mongeau, have started to post paid advertisements on their social media platforms for different digital coins and exchanges. Even Kim Kardashian West posted an ad for ethereummax on her Instagram story on Sunday to her 228 million followers. Younger influencers are getting into crypto tooGen Z and young millennial influencers — many of which primarily have young followers — have posted paid ads for cryptocurrencies and exchanges recently as well. Charli has over 117 million followers on TikTok and over 42 million on Instagram. Dixie has over 52 million followers on TikTok and over 24 million on Instagram.
Persons: cryptocurrency, Tana Mongeau, Kim Kardashian, Kardashian, Floyd Mayweather, ethereummax, Mayweather, Ethereummax, YouTuber Jake Paul, "⁠ Ethereummax, Younger influencers, , Charli, Dixie D'Amelio, Gemini, Dixie, Paul, Loren Gray, Matt James Organizations: CNBC, Gemini Locations: TikTok
TikTok has had an outsize impact on the music industry. Sign up for our webinar on July 8 at 1 PM EST/10 AM PST for a conversation with TikTok and music industry leaders. TikTok has become a powerful platform for professionals in the music industry. Artists, record labels, and music distributors have teams dedicated to engaging with the app. And TikTok itself has a full division focused on music operations, music partnerships and artist relationships, and business development.
Persons: TikTok, Matthew Wilder's, Fleetwood, Coldplay, Justin Bieber, Dan Whateley, Corey Sheridan, Celine Joshua, Dave Melhado Organizations: Universal Music Group, TikTok, Universal Music Locations: TikTok
New York (CNN) Hyram Yarbro already helped make one skincare brand popular with Gen-Z. own skincare line -- Selfless by Hyram -- exclusively online and in Yarbro, who has a nearly cult-like following on TikTok for his reviews of popular beauty products , will launch hisown skincare line -- Selfless by Hyram -- exclusively online and in Sephora stores in the United States and 29 other countries on June 24. The brand (priced from $20 to $30) has five products ranging from a green tea gel cleanser to an exfoliating serum and was developed in partnership with affordable British skincare brand The Inkey List. The new line points to the growing importance of influencers to major brands. Gen Z skincare influencer Hyram Yarbo is launching his first skincare line "Selfless By Hyram" at Sephora on June 24.
Persons: Hyram Yarbro, TikTok, Jasmine Enberg, eMarketer's Organizations: CNN Locations: York, Yarbro, United States, Sephora
But investors don't seem concerned: They're still treating Oracle like it's a red-hot social media stock instead of a boring database software company. Oracle up more than 25% this yearStill, Oracle's stock has outperformed nearly all its sexier Nasdaq rivals this year. Jefferies analyst Brent Thill points out that Oracle shares are now trading at their highest valuation, based on projected earnings forecasts, in nearly four years. He also worries that Oracle, despite its increased cloud presence, still lags Amazon, Microsoft and Alphabet in the cloud segment. Other analysts worry about Oracle losing momentum in its core database business as well.
Persons: Donald Trump, Theowner, Safra Catz, Mark Hurd, Larry Ellison, Oracle, Trevor White, Cowen, Derrick Wood, Brent Thill, Karl Keirstead, Keirstead, Mark Murphy, Ellison, Gen Z Organizations: CNN, White, Oracle, Nasdaq, Facebook, Netflix, Google, Research, Jefferies, Microsoft, UBS, IBM IBM, J.P, Morgan Securities Locations: York
YouTube just started letting ads run on non-Partner Program videos around the world. The change could drive some advertisers and small creators to rival platforms like TikTok and Snapchat. A new policy that will let YouTube run ads on videos outside of its Partner Program just took effect around the world. But Lowcock said YouTube has a mixed track record and that these new channels won't provide the metadata, or tags, that Partner Program creators share. In recent years, YouTube has run ads on videos containing animal cruelty, political extremism, and climate-change misinformation.
Persons: execs, Twitch, Joshua Lowcock, Lowcock, John Hinckley Jr, Ronald Reagan, Jay Krihak, Krihak Organizations: YouTube, UM, Global Alliance, Responsible Media, Partner, Facebook
Influencer boxing can be lucrative for creators, but can be a mess to run for event organizers. For all three companies, influencer boxing is proving to be a complicated affair as they look to bring social-media stars into the ring. And Jake Paul, LiveXLive, and Triller are all selling NFT collections around influencer boxing. Regardless of whether influencer boxing is profitable for exhibitors at this stage, there is some evidence that there is an audience for these fights. Influencer boxing first entered the mainstream in 2018 when YouTube creators KSI and Joe Weller fought at London's Copper Box Arena.
Persons: they've, Darryl Dwayne Granberry Jr, Nate Wyatt, YouTubers, DDG, Wyatt, YouTuber Ryan Johnston, Cale Saurage, Paige VanZant, LiveXLive, YouTuber Logal Paul, Floyd Mayweather, YouTuber Jake Paul, Ben Askren, Cliff Hawkins, Triller, influencers, Esquire's Brady Langmann, TikToker Bryce, Rob Ellin, Jake Paul, Showtime fortifies, Logan Paul, Michael Reaves, it's, Mahi de Silva, Ellin, Justin Bieber, DJ Khaled, Paul, ESPN's Michael Rothstein, Mayweather, Paul didn't, Saurage, TikToker Ben Azelart, Landon McBroom, YouTuber Faze Jarvis, Michael Le, Jonathan Coachman, Saturday's, KSI, Joe Weller, OnlyFans, Maxwell Gross, Gross Organizations: Companies, Showtime, YouTube, TikTokers, TikTok, JPMorgan, Netflix, Hall, TMZ Sports Locations: Miami
On TikTok, Jewish creators say speaking about their Judaism comes with a price. Jewish creators said they’re frustrated with the moderation process that has them feeling targeted, though they aren’t exactly sure how or why it’s happening. Others, like Josh Cohen, 19, of London, said they think they’re getting caught in a clumsy algorithm likely designed to protect Jewish creators. Jewish creators said they sometimes run into problems when they reply to antisemitic comments on their pages. Several Jewish TikTok creators told NBC News they, too, have received some version of the "Hitler was right," comment on their page.
Persons: Julia Massey, She’s, Massey, I’m, it's, TikTok, , ” Massey, they’re, Josh Cohen, ’ ” Cohen, Tommer, Yossi, they’ve, ” Yossi, Michael, ” Michael, Hitler, Cohen, ” Cohen, Daniel Kelley, Kelley, ” Kelley Organizations: NBC News, United, TikTok, Defamation League, Jewish Congress, Hamas, Twitter, Extremism, Center for Technology, Society Locations: California, London, United States, Israel, U.K
He said a flight attendant was called a "fat gorilla" for asking a passenger to wear a face mask. Video shows the moment a flight attendant threatened to turn a plane around after a heated confrontation with a man who hurled vulgarities when asked to put on his mask. "But one of the things I will not tolerate is disrespect to any of my flight attendants. We will go back to the gate and you will get arrested if you disrespect any of my flight attendants on board. Some time later, another passenger called the flight attendant who spoke a "drama queen," at which point the flight attendant said that the plane was being turned around.
Persons: TikTok, Brent Underwood, Underwood, It's, Organizations: American Airlines, LAX, NC Locations: Los Angeles, Charlotte, Raleigh , North Carolina, LAX, NC, Raleigh
Insider asked two financial experts to watch and review nine popular TikTok investing videos with questionable advice. The investing side of TikTok, better known as "StockTok", is ballooning, with the TikTok hashtag "#investing" garnering over 2.8 billion views. Thirty-six-year-old Douglas Boneparth, who provides investing advice to Millennials through his firm Bona Fide Wealth, said he loves the greater attention given to the world of investing through social media. Insider asked three market experts for their take on nine popular TikTok investing videos with questionable advice. "Anyone who believes that a particular asset class 'always goes up' deserves to lose money," Stovall said.
Persons: there's, Douglas Boneparth, Sam Stovall, Kris Kohn's, TikTok Kris Krohn, Krohn, I've, Boneparth, Sam Stoval, Stovall, It's, Warren, Tik, that's, tdorriz, he's, bitcoin Organizations: AMC, TikTok, AMC Entertainment, Berkshire Hathaway Locations: CEO's
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