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Meta Projected $16 Billion Earnings from Fraudulent Ads on Facebook, Instagram in 2024: Report
Meta Platforms is said to have projected that 10.1 per cent of its 2024 revenue would come from ads for scams and banned goods. As per a report, some of the tech giant’s practices and failures allowed fraudulent ads to run on its umbrella of apps like Facebook, Instagram, and WhatsApp. It is reported to have been hesitant to remove accounts, incl...
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Meta’s Oversight Board Rebukes Company Over Policy Overhaul
Meta Platforms’ Oversight Board on Wednesday sharply rebuked the Facebook and Instagram owner over a policy overhaul in January that cut fact-checking. The board, which operates independently but is funded by Meta, urged the world's biggest social media company to assess “potential adverse effects” of the changes, put in place just before US ...
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Meta To Face Lawsuits In Japan Over Fake Ads
Facebook and Instagram owner Meta Platforms Inc. will face fresh lawsuits in Japan over advertisements that fraudulently solicited investment funds with fake endorsements from celebrities, local media reported.
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Ex Employee Gets 5 Years Jail For Stealing $5 Million From Facebook, Nike
A former Meta and Nike employee, who was hired to boost workplace diversity, has been charged for stealing $5 million from the companies to fund a "luxury lifestyle".
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Ex Facebook Employee Admits To Stealing Over $4 Million From Company To Fund Luxurious Lifestyle
A former Facebook employee has pleaded guilty to stealing more than $4 million from the social media giant "to fund a lavish lifestyle" in California and Georgia.
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Meta Said to Be Targeting $7 Billion in Its Second Blue-Chip Bond Sale
Meta Platforms emerged as the first mega-cap technology company to tap the US investment-grade bond market as turmoil in the financial sector has toppled five banks since March. The social-media behemoth, which reported earnings last week, is looking to raise $7 billion (nearly Rs. 57,250 crore) in a five-part deal, according to a person familiar ...
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Meta Oversight Board Calls for Overhaul of 'Cross-Check' Programme That Prioritises VIP Users
Meta's Oversight Board on Tuesday recommended that the world's biggest social media firm revamp its 'Cross-check' system that adds a layer of enforcement review for millions of Facebook and Instagram accounts belonging to celebrities, politicians and other influential users. Oversight Board director Thomas Hughes said the system prioritises users o...
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Facebook Parent Meta Asked by Shareholder to Cut Jobs, Spending in Open Letter to CEO Mark Zuckerberg
Meta shareholder Altimter said on Monday that the Facebook parent needs to cut jobs and spending, as the firm has lost investor confidence as it ramped up spending and pivoted to the metaverse. The hedge fund, which has a 0.1 percent stake in the company said that huge investments "in an unknown future is super-sized and terrifying, even by Silicon...
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Facebook Parent Meta Raises $10 Billion in Its First-Ever Bond Offering
Facebook parent Meta has raised $10 billion (roughly Rs. 79,530 crore) in its first-ever bond offering. The company is planning to fund share buybacks and investments to revamp its business. Meta is among other tech giants like Apple and Intel, who recently issued bonds to raise $5.5 billion (roughly Rs. 43,740 crore) and $6 billion (roughly Rs. 4...
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Meta Announces First-Ever Bond Offering Amid Push to Invest in Virtual Reality Projects
Meta, Facebook's parent company, said on Thursday that the firm would make bond offering, the first in the company's history. The move comes when Meta is set to make massive investments into its virtual reality projects. It is the only firm among Big Tech companies which does not have any debt on its books. Meta is selling four tranches of bonds w...
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Facebook Shuts Funding for US News Partnerships Program Amid Economic Downturn, Changing User Behaviour
Facebook has announced it has ended funding for its US news partnerships program, that was launched in 2019. In order to reallocate resources amid the economic downturn and changing user behaviour, the Meta-owned company said it will no longer pay news organisations in the US for material that appears on its News Tab.
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Hate Crimes in US: Experts Highlight Increasing Online Videos on Gun Violence to Spread Radicalisation
American law enforcement officials and experts on extremism are taking increasing notice of the sprawling online space devoted to guns and gun rights. The federal authorities have also taken notice, increasing funding for investigations into domestic terrorism.
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Reddit Launches $1 Million Community Fund to Support Creators and Projects
Reddit announces a Community Fund of $1 Million (roughly Rs. 7.6 crore) to fund community projects and help creators. The criteria to select projects will include creativity, feasibility and community impact. The social media platform is planning to announce the submission guidelines in detail soon.
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Apple, Google, and Meta to TikTok and Microsoft — Tech Giants Cutting Ties With Russia
Tech giants including Apple, Google, Meta, and Microsoft have restricted or withdrawn their products and services in Russia and Belarus over the past week. AMD, Dell, and Intel are also amongst the leading technology companies that are limiting operations in the Russian Federation.
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Ukraine to Seek Action Against Russia From About 50 Gaming, Cloud, Other Tech Firms
Ukraine plans to urge about 50 additional tech companies, including in gaming, esports, and Internet infrastructure, to take action against Russia following a slew of earlier requests
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Meta Projected $16 Billion Earnings from Fraudulent Ads on Facebook, Instagram in 2024: Report
Meta Platforms is said to have projected that 10.1 per cent of its 2024 revenue would come from ads for scams and banned goods. As per a report, some of the tech giant’s practices and failures allowed fraudulent ads to run on its umbrella of apps like Facebook, Instagram, and WhatsApp. It is reported to have been hesitant to remove accounts, incl...
-
Meta’s Oversight Board Rebukes Company Over Policy Overhaul
Meta Platforms’ Oversight Board on Wednesday sharply rebuked the Facebook and Instagram owner over a policy overhaul in January that cut fact-checking. The board, which operates independently but is funded by Meta, urged the world's biggest social media company to assess “potential adverse effects” of the changes, put in place just before US ...
-
Meta To Face Lawsuits In Japan Over Fake Ads
Facebook and Instagram owner Meta Platforms Inc. will face fresh lawsuits in Japan over advertisements that fraudulently solicited investment funds with fake endorsements from celebrities, local media reported.
-
Ex Employee Gets 5 Years Jail For Stealing $5 Million From Facebook, Nike
A former Meta and Nike employee, who was hired to boost workplace diversity, has been charged for stealing $5 million from the companies to fund a "luxury lifestyle".
-
Ex Facebook Employee Admits To Stealing Over $4 Million From Company To Fund Luxurious Lifestyle
A former Facebook employee has pleaded guilty to stealing more than $4 million from the social media giant "to fund a lavish lifestyle" in California and Georgia.
-
Meta Said to Be Targeting $7 Billion in Its Second Blue-Chip Bond Sale
Meta Platforms emerged as the first mega-cap technology company to tap the US investment-grade bond market as turmoil in the financial sector has toppled five banks since March. The social-media behemoth, which reported earnings last week, is looking to raise $7 billion (nearly Rs. 57,250 crore) in a five-part deal, according to a person familiar ...
-
Meta Oversight Board Calls for Overhaul of 'Cross-Check' Programme That Prioritises VIP Users
Meta's Oversight Board on Tuesday recommended that the world's biggest social media firm revamp its 'Cross-check' system that adds a layer of enforcement review for millions of Facebook and Instagram accounts belonging to celebrities, politicians and other influential users. Oversight Board director Thomas Hughes said the system prioritises users o...
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Facebook Parent Meta Asked by Shareholder to Cut Jobs, Spending in Open Letter to CEO Mark Zuckerberg
Meta shareholder Altimter said on Monday that the Facebook parent needs to cut jobs and spending, as the firm has lost investor confidence as it ramped up spending and pivoted to the metaverse. The hedge fund, which has a 0.1 percent stake in the company said that huge investments "in an unknown future is super-sized and terrifying, even by Silicon...
-
Facebook Parent Meta Raises $10 Billion in Its First-Ever Bond Offering
Facebook parent Meta has raised $10 billion (roughly Rs. 79,530 crore) in its first-ever bond offering. The company is planning to fund share buybacks and investments to revamp its business. Meta is among other tech giants like Apple and Intel, who recently issued bonds to raise $5.5 billion (roughly Rs. 43,740 crore) and $6 billion (roughly Rs. 4...
-
Meta Announces First-Ever Bond Offering Amid Push to Invest in Virtual Reality Projects
Meta, Facebook's parent company, said on Thursday that the firm would make bond offering, the first in the company's history. The move comes when Meta is set to make massive investments into its virtual reality projects. It is the only firm among Big Tech companies which does not have any debt on its books. Meta is selling four tranches of bonds w...
-
Facebook Shuts Funding for US News Partnerships Program Amid Economic Downturn, Changing User Behaviour
Facebook has announced it has ended funding for its US news partnerships program, that was launched in 2019. In order to reallocate resources amid the economic downturn and changing user behaviour, the Meta-owned company said it will no longer pay news organisations in the US for material that appears on its News Tab.
-
Hate Crimes in US: Experts Highlight Increasing Online Videos on Gun Violence to Spread Radicalisation
American law enforcement officials and experts on extremism are taking increasing notice of the sprawling online space devoted to guns and gun rights. The federal authorities have also taken notice, increasing funding for investigations into domestic terrorism.
-
Reddit Launches $1 Million Community Fund to Support Creators and Projects
Reddit announces a Community Fund of $1 Million (roughly Rs. 7.6 crore) to fund community projects and help creators. The criteria to select projects will include creativity, feasibility and community impact. The social media platform is planning to announce the submission guidelines in detail soon.
-
Apple, Google, and Meta to TikTok and Microsoft — Tech Giants Cutting Ties With Russia
Tech giants including Apple, Google, Meta, and Microsoft have restricted or withdrawn their products and services in Russia and Belarus over the past week. AMD, Dell, and Intel are also amongst the leading technology companies that are limiting operations in the Russian Federation.
-
Ukraine to Seek Action Against Russia From About 50 Gaming, Cloud, Other Tech Firms
Ukraine plans to urge about 50 additional tech companies, including in gaming, esports, and Internet infrastructure, to take action against Russia following a slew of earlier requests
