Business
According to a report, Twitter granted 83% of censoring requests under Musk.
Twitter has approved 83% of government requests to censor content since Elon Musk took control of the company in October 2022, according to a report by El Pais.
The report, which analyzed data from the technology information portal Rest of World, found that Twitter received 971 requests from governments in the six months following Musk’s takeover. Of those requests, Twitter fully acceded to 808 and partially acceded to 154.
In the year prior to Musk’s takeover, Twitter agreed to 50% of such requests.
Musk has said that he is committed to free speech, but he has also said that he believes Twitter should comply with the law. In a Twitter Spaces interview last month, he said that he would comply with India’s “strict social media laws” rather than send his employees to jail.
The report by El Pais comes as Twitter faces increasing scrutiny over its content moderation policies. In April, Musk said that he would make Twitter a “platform for free speech” and that he would “defeat the spam bots and authenticate all humans.”
It remains to be seen how Musk’s commitment to free speech will be reconciled with Twitter’s compliance with government requests to censor content.
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Business
ShareChat Secures Nearly $49 Million from Key Investors: Report
ShareChat Secures Nearly $49 Million from Key Investors: Report
SharingChat, a social media site, has secured $48.8 million from its current backers, Temasek and Lightspeed, through convertible debentures.
Citing ShareChat’s regulatory filings, startup news website Inc42 stated on Wednesday that the fundraising round will assist ShareChat in “navigating the path to profitability in the next 12 to 15 months.”
The report also stated that the company is supposedly in talks with investors for a larger equity investment round.
To date, ShareChat has raised more than $1 billion in investment.
It was reported in December of last year that ShareChat planned to raise as much as $65 million from current investors.
The investment round was expected to include participation from current investors like Temasek, Tiger Global, Google, Lightspeed Ventures, and others.
As part of a strategic reorganization, ShareChat let go of 200 workers in December, representing around 15% of its total employment.
Also Read: Sergey Brin Personally Urges Google Employee to Decline OpenAI Job Offer
The decision, according to Mohalla Tech, the parent company of ShareChat and the short video entertainment app Moj, indicates the firm’s commitment to attaining profitability within the next four to six quarters and simplifying its cost base.
ShareChat’s sales increased by 62% to Rs 540.21 crore in FY23, but its net loss increased to Rs 4,064.3 crore from Rs 2,941.5 crore in FY22.
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