Spotify is readying an initial public offer next year, pressured by its most recent financing. Private-equity firm TPG, hedge fund Dragoneer Investment Group and Goldman Sachs are part of a group that issued $1 billion in convertible debt, which carries an interest rate that increases until Spotify’s IPO. Investors also get a discount on shares if they convert debt into equity — 20 percent now, but increasing if Spotify delays the IPO. One problem prevents Spotify from doing so: long-term rights for the music it plays. Continue reading Spotify Prepares to Go Public, Seeks Long-Term Music Rights

Google is readying Daydream VR, a store/software service, set to debut around the same time as new Android phones, VR headsets and controllers. Daydream will offer users apps from YouTube and HBO Now among others. Google is also investing in original content to help build the buzz for its platform, including 360-degree projects with YouTube stars such as the Dolan twins and Justine Ezarik, as well as projects from Hulu. The goal is to become the dominant way that consumers interact in VR. Continue reading Google Pursues Original VR Content Prior to Daydream Debut

Constructed as a way for high school students to get to know their classmates, Facebook’s new Lifestage is a standalone iOS app, aimed at people 21 and under. The user answers a series of biographical questions by shooting video rather than writing text, and Lifestage turns the clips into a video profile that others can watch. Users, who can swipe to block and/or report sketchy visitors, do not need a Facebook account but instead select their high school to see video profiles of classmates. Continue reading Teens Create Shareable Video Bios with Facebook’s Lifestage

Alibaba is expanding beyond e-commerce into social media and entertainment with its mobile app Taobao. Founded in 2003 as a site for small businesses to sell directly to consumers, Taobao has since blossomed with social and entertainment, a “one-stop shop” paradigm that’s getting Chinese youth to spend more time on the site than visitors to Amazon and Twitter, and mobile revenue more than doubling in the most recent quarter. What helps to make the site so successful are its more than 1,000 special interest groups. Continue reading Alibaba’s Shopping App Mixes E-Commerce and Social Media

GoPro has revealed some of the details of its upcoming Hero5 camera, including a short instructional video that shows the camera in greater detail. Design-wise, Hero5 looks similar to the Hero4 and GoPro’s previous cameras, with its rectangular shape and the lens and front-facing screen in the same corners. New for Hero5 is the fact that this is GoPro’s first camera to be connected to the cloud; a fully charged camera will automatically upload all the footage to the user’s GoPro account. Also new is voice control.

Continue reading GoPro Hero5 Features Cloud-Connectivity and Voice Control

Facebook is working with game engine Unity to build a dedicated, downloadable desktop gaming platform. The new platform will not require the intensive coding of Facebook’s previous SDK, making it easier for game publishers to offer iOS and Android games on the desktop. Developers now have until August 31 to get “instant access” to an alpha version of Unity 5.4 needed to build and export games to Facebook’s Web and desktop app. Facebook’s move is seen as an attempt to regain gaming revenues lost to the mobile platform. Continue reading Facebook and Unity Team to Build Desktop Gaming Platform

Instagram’s Explore tab for displaying personalized content has evolved from a simple algorithm to a more sophisticated discovery platform for photos and videos. Through its “Picked For You” feature, Instagram added custom channels inside Explore for more personalization. Now, the social platform is introducing a new video channel called Events that “will be personalized for each user and feature videos from concerts, sports games, and other live events depending on what’s happening around the world, what types of live events users are interested in, and what type of accounts the user follows,” reports TechCrunch. The new feature could compete with Snapchat’s Discover channels. Continue reading Instagram Adds Events Channel to Explore Concerts, Sports

Pinterest just began selling video advertising, with the first ads from Kate Spade and bareMinerals in the coming weeks. The GIF-like ads will be silent until the user clicks the images, or pins, of the featured products next to the videos, which could allow the user to buy the product within the Pinterest website. By adding video ads, Pinterest joins the ranks of Facebook, Twitter, Snapchat and large publishers similarly seeking the premium revenues of the kind of marketing once reserved for TV. Continue reading Pinterest Launches Video Ads with Kate Spade, bareMinerals

Google Duo is a new video chat app that just debuted specifically for mobile. The Verge describes the FaceTime competitor as “fast, easy to use, and devoid of complicated bells and whistles. You tap on the face of the person you want to call, they answer, and you have a one-on-one video chat going.” The single-minded approach is meant to be simple — including the setup process that merely involves a sign-up and confirmation — and “no accounts to create nor friend lists to maintain.” Duo is simply tied to your phone number and contact lists, and is available for both Android and iOS. It does not enable conference calls or desktop calls. Continue reading Fast, No-Frills Video Chat App Google Duo Launches Today

Not long ago, Facebook chief executive Mark Zuckerberg predicted that video would be the dominant means of communication on the social platform. To give that goal a leg up, the company unveiled tools to help video creators improve the odds of engaging audiences. The video analytics include the ability to break down minutes of a video view by age, gender and geographic location. Facebook also introduced tools to help creators tell stories with 360 videos, by enabling a “guide” of story points that viewers can opt to follow. Continue reading Facebook Unveils Tools, Metrics to Improve Video Production

Yesterday we reported that Facebook is now able to block all ad blockers on its desktop website, sparking a discussion about the ethics of ad blocking. Popular ad-blocking software, Adblock Plus, has since posted instructions online for users to adjust their ad-blocking software by updating their filter lists so they can block Facebook ads again. Meanwhile, Facebook was quick to respond, expressing disappointment that Adblock’s workaround also removes posts from friends and Pages, in addition to ads. Facebook is reportedly rolling out a code update that will counter Adblock’s workaround. Continue reading Ad-Free Facebook is Still Possible, According to Adblock Plus

Facebook is now able to block all ad blockers on its desktop website, enabling advertising to run unimpeded. The move has ignited a firestorm of discussion about the ethics of ad blocking: digital ads are irritating, but they also underpin the business model of the very digital publishers who provide content. Publishers as established as The New York Times and The Wall Street Journal are struggling with eroding ad sales. Wired, Forbes and NYT have also tried out techniques to counter ad blocking. Continue reading Facebook Risks Alienating its Users by Blocking Ad Blockers

App intelligence firm Sensor Tower projects that Apple’s App Store will reach 5.06 million apps by 2020, making its catalog 73 percent larger than figures expected this year. The App Store debuted in 2008, reached 5,000 apps by the end of the year, and totaled 1.75 million apps by 2015. “New games fuel the App Store’s growth, because of both their popularity and because game makers have to release new titles often to keep users engaged,” reports TechCrunch. “48,231 new apps were released this May, with 43 percent of those being games.” Those were followed by apps for Education, Entertainment, Business and Lifestyle. Interface upgrades and search ads are expected to help with app discovery moving forward. Continue reading Major Growth Predicted for App Store in the Next Four Years

Hulu is shutting down the free, ad-supported version of its service. The company announced it is transitioning to a subscription-only model following investments in more movies and TV shows. Hulu’s two subscription tiers include an ad-free plan for $11.99 per month and a limited-commercial offering for $7.99 per month. Hulu is also expanding its distribution deal with Yahoo by partnering on Yahoo View, a new ad-supported streaming site that will carry the five most recent episodes of series from Hulu co-owners ABC, FOX and NBC, eight days after their original broadcast. Continue reading Hulu Winds Down its Free Service, Partners on Yahoo TV Site

Betting big that future data centers will rely upon artificial intelligence, Intel is acquiring deep learning startup Nervana Systems. Details have yet to be revealed, but an inside source values the San Diego-based startup at $408 million. According to Intel VP Jason Waxman, the shift to artificial intelligence could surpass cloud computing, since machine learning would be necessary for a future in which billions of devices communicate with each other. Nervana “has been working to bring machine learning all the way into the silicon,” reports Recode, “rather than simply making software that can run on top of anyone’s cluster of graphics chips.” Continue reading Intel Invests in Machine Learning with Nervana Systems Deal