Having fended off challenges in the short-form video sphere since its late 2016 launch, it now appears TikTok is playing offense, laying the groundwork for a photo-sharing app that has drawn comparisons to Instagram and Pinterest. Avid TikTok users are probably familiar with a feature that lets them post still images as moving images that can be examined by advancing frame-by-frame. Now TikTok seems to want to improve that approach by building a separate TikTok Photos app to which users of the primary platform can export and showcase their still images to Android and iOS. Continue reading TikTok Updates Its Code to Sync to Separate ‘TikTok Photos’

Reddit is moving ahead with its IPO and plans to raise between $682 million and $748 million on a fully diluted valuation of between $5.8 billion and $6.4 billion. Although no date has been announced, the IPO is expected to take place sometime this month. According to a Securities and Exchange Commission filing Monday, Reddit says it will offer 22 million 15.3 million Class A common shares and 6.7 million insider shares from investors including CEO Steve Huffman and COO Jen Wong. Pricing will be between $31 and $34 per share. The proposed market cap is $4.9 billion to $5.4 billion. Continue reading Reddit Hopes to Raise $748M in IPO Aimed at $6.4B Valuation

While YouTube and Facebook are the most-used platforms among U.S. adults, TikTok is the fastest growing, according to a new Pew Research survey on social media usage. Google’s YouTube led in popularity by a wide margin, with 83 percent of the 5,733 U.S. adults polled reporting they had used it at some point. Meta Platforms’ Facebook took second place, with 68 percent of respondents having at least tried it. Those two platforms also stood out for having the majority through each age demographic subset. Instagram, also owned by Meta, took third place, with 47 percent of respondents attesting they had used it. Continue reading YouTube, Facebook Most Popular Social Apps Among Adults

Amazon continues its push into social shopping, partnering with Snapchat to allow sale of some products to U.S. users directly through the app. Amazon’s Snapchat ads will display real-time pricing, Prime eligibility and delivery estimates, as well as product details. Snapchat users will be able to link their Amazon accounts via a one-time set-up, with purchases defaulting to their preferred Amazon payment method and shipping address (unless otherwise specified). Both Amazon products and those through the e-commerce giant’s independent sellers will be included in the program. Continue reading Snapchat Latest Social Site to Link Amazon for In-App Sales

Social image pinboarding and shopping inspiration platform Pinterest touted its recently announced Amazon partnership and AI efforts as part of its Q2 2023 earnings, which showed a 6 percent gain in year-over-year revenue of $708 million, beating analyst expectations. Pinterest announced the multiyear partnership with Amazon that marked a Pinterest first for third-party ads. On the investor call, Pinterest CEO Bill Ready told analysts the company has been testing Amazon ads traffic and is “very pleased” with the early results. When users click on Amazon ads on Pinterest they land on Amazon’s site to complete their purchase. Continue reading Pinterest Touts AI and Amazon Partnership with Q2 Earnings

Amazon is rolling out its Inspire shopping feed to all U.S. customers. The short-form video and photo feed, which has drawn comparisons to TikTok, lets customers explore products while shopping from content created by influencers and brands. After logging in to the Amazon Shopping app, the Inspire light bulb icon will connect users to a menu of more than 20 categories, from makeup and skin care to pets, gaming, travel, health and more. Users can vertically scroll the content feed and double-tap on the screen to create “likes” for the content displayed. Continue reading Amazon Expands Its Release of ‘Inspire’ Video Shopping App

Image-sharing social platform Pinterest has named Amazon as its first third-party ad partner. The multiyear strategic partnership will see the e-commerce giant marketing various brands and products on Pinterest and porting interested shoppers back to its site to complete the sale for “a seamless on-Amazon buying experience.” The integration will begin later this year and roll out over several quarters. The news was timed to Pinterest’s Q1 results, which saw revenue up by 5 percent year-over-year to $603 million. The number of global monthly active users also increased, by 7 percent to 463 million, a gain of 13 million. Continue reading Pinterest Sets Multiyear Deal with Amazon for Third-Party Ads

Elon Musk and Steve Wozniak are among a group of more than 1,100 tech leaders, researchers and AI stakeholders who have signed an open letter calling for a pause on “giant AI experiments.” The missive, published by the Future of Life Institute, warns of “profound risks to society and humanity” that could be caused by an “out-of-control race” to develop and commercially deploy artificial intelligence systems “that no one — not even their creators — can understand, predict, or reliably control.” Other signatories include politician Andrew Yang, Skype co-founder Jaan Tallinn, Pinterest co-founder Evan Sharp and Stability AI CEO Emad Mostaque.  Continue reading Concerned Thought Leaders Call for Pause on AI Movement

Despite threats by U.S. lawmakers to ban popular social video app TikTok, parent company ByteDance continues to drive its apps to the top of the charts. The Chinese company’s latest hit is Lemon8, described as a rival to Instagram that serves a “lifestyle community.” As of Monday, Lemon8 was No. 10 across apps and games in the U.S. App Store’s Top Charts. On Tuesday it climbed to No. 9 among apps. The video- and photo-sharing app was launched internationally in March 2020, but ByteDance appears to have taken a new interest in promoting it. Last month, media outlets reported the company was paying influencers to post on it. Continue reading ByteDance Pushes Lemon8, a Possible Instagram Competitor

The Federal Trade Commission is cracking down on fraudulent tech advertising, which escalated substantially during the COVID-19 pandemic, issuing orders to eight social media and video streaming platforms seeking information on commercial practices that are deceptive or expose consumers to false health-care products, financial scams and counterfeit or fake goods. The action compels services including Meta Platforms’ Instagram, Alphabet’s YouTube, ByteDance’s TikTok and Amazon’s Twitch to provide answers in 45 days so the FTC can analyze their practices. In addition to fact-finding, the order is intended to pressure the companies to self-regulate. Continue reading FTC Demands Info from Tech Firms in Fight Against Ad Fraud

Creator discovery platform Jellysmack has struck a deal with The Roku Channel to launch two channels programmed with content curated from 17 of its top-performing talents, including Brad Mondo, Stephanie Soo and LaurDIY. The pact sees The Roku Channel offering two FAST linear channels: the lifestyle-themed Hello Inspo and true crime forum Mysteria. The two new Roku FAST channels are an expansion of Jellysmack’s creator program, which uses artificial intelligence to identify promising creators and distribute their content to multiple platforms like Facebook, Snapchat, YouTube, Pinterest and TikTok, among others. Continue reading Jellysmack Pacts with Roku on Channels for Creator Content

Pinterest grew Q4 year-over-year revenue by 4 percent, to $877 million, while full year sales jumped 9 percent in 2022 totaling $2.8 billion. The company said that global monthly active users also grew by 4 percent in the three month period ending December 31, to a total of 450 million. CEO Bill Ready emphasized on the earnings call the intent to eventually “make every pin shoppable.” Similar to how it is monetizing still images Pinterest is focusing on making videos “more actionable” by applying what it calls “our computer vision technology.” Continue reading Pinterest Grows Its Active Users, Focuses on Video Shopping

TikTok is said to be partnering with Los Angeles-based TalkShopLive to handle its live shopping initiative in North America after an in-house UK effort produced lackluster results. Due to hit the U.S. in time for the holiday season, TikTok Shop will be built on technology and support from TalkShopLive as it positions live-stream shopping hosted by influencers, brands and retailers selling products on the short-form video platform. Launched last year, TikTok Shop UK was the ByteDance company’s first such effort outside of Asia, where it is available in countries including Vietnam, Singapore and the Philippines. Continue reading TikTok May Team Up with TalkShopLive for a Holiday Launch

Twitter’s second quarter revenue of $1.18 billion underperformed 2021 by only one percent but fell short of estimates by more than 10 percent, disappointing Wall Street, which projected revenue of $1.32 billion for the period. Advertising crept up two percent, to $1.08 billion, but overall Twitter had a quarterly net loss of $270 million, largely attributed to recessionary headwinds and uncertainty about Elon Musk’s proposed takeover. In its earnings report, Twitter said its lawsuit against Musk has been granted an expedited trial for October 2022. Continue reading Ad Market and Musk Credited for Twitter’s Missed Earnings

YouTube has partnered with Shopify so creators and merchants can showcase products across both platforms. Eligible creators can now link their Shopify store to their YouTube channel and leverage Shopify’s real-time inventory syncing. Additionally, U.S. creators can enable onsite checkout, allowing visitors to complete purchases without leaving YouTube. Implementation is accessible through the Shopping tab in YouTube Studio. In addition, beginning next week YouTube will add shopping to its Explore tab, featuring goods from the U.S., Brazil and India, with additional countries to roll out later this year. Continue reading YouTube Partners with Shopify in Latest E-Commerce Push