10 things in tech you need to know today

Jay Y. Lee

AFP

Jay Y. Lee, son of Samsung Electronics chairman Lee Kun-hee and the company’s chief operating officer.

Good morning! Here is the tech news you need to know this Friday.

1. Snapchat’s parent company, Snap Inc., is seeking to price its initial public offering at $14 (£11) to $16 (£13) a share. It’s setting its valuation below initial expectations.

2. Mark Zuckerberg has shared a lengthy new letter explaining his vision for the future of Facebook. The post is Zuckerberg’s first revision to the original founder’s letter he wrote ahead of Facebook’s public offering more than five years ago.

3. South Korea has approved an arrest warrant for Samsung chief Jay Lee. He is under investigation for his alleged role in a corruption scandal that led parliament to impeach President Park Geun-hye.

4. European politicians voted in favour of a controversial report calling for regulation on robots and artificial intelligence (AI). The report passed 396-to-123, with 85 abstentions.

5. Twitter has a new tactic for curbing abuse and harassment: a time-out. The company has started temporarily restricting the access of accounts it determines to be abusive, a Twitter spokesperson told Business Insider. Affected accounts will only have their tweets seen by their followers until the ban is lifted.

6. Spotify will expand its US headquarters and relocate to 4 World Trade Center in New York City. It is creating 1,000 new jobs.

7. Airbnb has acquired Montreal-based Luxury Retreats, which boasts properties like an eight-bedroom villa in Turks and Caicos. Bloomberg first reported the deal and pegged the acquisition cost at under $300 million (£240 million).

8. Tinder has bought a video sharing app that could make it more like Snapchat. The app — bought for an undisclosed price — is called Wheel.

9. 80 new Pokémon have officially been released into the wilds of the Pokémon Go smartphone game. They are drawn from the “Pokémon Gold” and “Pokémon Silver” classic Game Boy Colour games.

10. Uber reportedly has a secret program that allows staff to cash out shares. The company is now valued at $68 billion (£54 billion).

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