Short-form video app Clash, which debuted in August, just acquired Byte, another short-form video app released a year ago. Byte creator Dom Hofmann was a co-founder of Vine, the once-popular six-second video app that shut down operations in 2016. Clash CEO and co-founder Brendon McNerney, formerly a star on Vine, explained that it is “more of an IP acquisition where we’re going to be taking over the community.” Byte and Clash will debut “in a few short months” as one product with monetization tools for creators. Continue reading Short-Form Video App Clash Acquires and Merges with Byte

Individual investors are savoring their win over hedge-fund investors of GameStop, AMC Entertainment, BlackBerry and other companies perceived to be failing. As stocks go through the roof, individual investors gather on Reddit, Discord, Facebook and Twitter to encourage each other and brag, while investors lose the money they bet on short-selling stocks of troubled companies. Treasury Secretary Janet Yellen and her economic team are monitoring the situation. The SEC revealed it was “evaluating the extreme price volatility of certain stocks’ trading prices over the past several days” and would “review actions taken by regulated entities that may disadvantage investors or otherwise unduly inhibit their ability to trade certain securities.” Continue reading Government Monitoring Trade Activity of AMC and GameStop

In the wake of Ellen Pao’s resignation as Reddit’s interim chief executive, co-founder Steve Huffman was brought in by the company’s board to take her place. Pao left after eight months in the wake of a mishandled firing of a popular employee, which triggered protests by hundreds of thousands of the site’s 160 million monthly visitors. Since Huffman left the day-to-day operations of Reddit in 2009, three years after its sale to Advance Publications, he founded online travel site Hipmunk where he will remain as CTO. Continue reading New Reddit CEO Faces Angry Site Users and Low Staff Morale

In the wake of the abrupt dismissal of Reddit employee Victoria Taylor, CEO Ellen Pao apologized to the site’s disgruntled users, acknowledging a history that goes back several years of broken promises and poor communication. But apologies by Pao and co-founder/executive chairman Alexis Ohanian haven’t yet mollified users, who are circulating an online petition demanding Pao’s termination. The 10-year old San Francisco-based company has 70 to 80 employees but relies on its power users to govern the site. Continue reading Reddit Chief Promises Better Communication with Community

Reddit has officially launched its own video site called Reddit Original Video, pushing the company closer to becoming a full-fledged media entity. The new property will join Reddit’s popular news site, Upvoted podcast and Upvoted Weekly newsletter. Reddit founder Alexis Ohanian announced the site at this week’s TechCrunch Disrupt conference. Reddit, a company known for aggregating news and information, plans to use the site to significantly expand the type of content it shares with its growing online community. Continue reading Reddit Expands Online Offerings with New Original Video Site