Mexican financial services startup Klar has received a $100 million debt facility from investment firm Victory Park Capital, it announced on Tuesday, meant to expand the company’s loan book in a country where few residents have access to credit.
Social media company X, formerly known as Twitter, will no longer allow advertisers to promote their accounts within the platform’s timeline to attract new followers, Axios reported on Tuesday, citing an email to advertising clients.
Amazon.com said on Tuesday its online pharmacy will automatically apply manufacturer-sponsored coupons to more than 15 insulin and diabetes medicines to help patients access discounts pledged by the drug industry.
Abnormal Security, an AI-powered email security startup, said it has crossed $100 million in annual recurring revenue, meeting a milestone for software companies as it eyes an eventual initial public offering, the company told Reuters.
Technology firm Sea Ltd signaled on Tuesday it will boost investments in its core e-commerce business which may lead to losses in some quarters, pivoting its strategy after months of cost cuts and weak performance in the second quarter.
Indonesia’s biggest tech firm GoTo on Tuesday said it had slashed underlying losses in the second quarter to 1.2 trillion rupiah ($78.25 million), down from 4.3 trillion rupiah a year earlier, helped by intense cost-cutting measures.
China’s Tencent Music Entertainment Group , said on Tuesday second-quarter revenue rose 5.5% year-on-year, driven by a rise in user subscriptions, but warned that future revenue will shrink as tighter live-streaming controls come into effect.
The top U.S. agency for consumer financial protection will announce plans at the White House on Tuesday to regulate companies that track and sell people’s personal data, part of the Biden administration’s widening scrutiny of that industry’s privacy practices, officials said.
Russia on Tuesday fined social media site Reddit for the first time for not deleting “banned content” that it said contained “fake” information about Russia’s military campaign in Ukraine, RIA reported on Tuesday, citing a Moscow court.
