Trump takes on TikTok, TikTok fights back
Last week US President Donald Trump issued an executive order that prohibits “any transaction” with ByteDance, the Chinese company that owns TikTok, due to come into effect after 45 days. This led to a flurry of rumours (both official and off the record) over potential buyers or partners for the platform that would allow it to continue operating in the US, including Twitter and Microsoft. Unsurprisingly, it appears that TikTok is likely to be fighting back against the ban and could “file a federal lawsuit challenging the order as soon as Tuesday”.
Instagram Reels launches globally
Instagram Reels, the company’s answer to TikTok, is now available to users in more across 50 countries, including the US, France, Germany, the UK, Japan, Australia, Spain, Mexico, and more. The feature lets users create and publish 15-second videos using a new set of editing tools that include options like AR effects and music.
Pinterest’s share price jumps as revenue and MAUs grows
Pinterest’s share price jumped 36.13 per cent after the company reported total revenue of $272 million, up 4 per cent year-on-year, in its second quarter earnings report. In addition to the bump in revenue, Pinterest also reported that its global monthly active users grew 39 per cent year-on-year to 416 million.
Snapchat plans to add extensive music library
Just days after Facebook released its music offering in the US, Snapchat has announced that it is working with a number of music-industry partners to develop an extensive music catalogue for its own platform. The goal is to enable Snapchatters to add music to their Snaps, pre- or post-capture, from a library of tracks.
Reddit works to inform users on their right to vote
Reddit has launched a new voter-registration initiative, Up the Vote, which aims to educate Redditors on their right to vote and encourage them to do so. As part of the activation, Reddit will host an Ask Me Anything on voting laws, rights and processes, as well as how people can volunteer to serve as poll workers via Power the Polls.
Facebook prepares for National Black Business Month in the US
Facebook has teamed up with US Black Chambers on several new initiatives in support of National Black Business Month, which will run throughout the month of August in the US. The activation will include a three-part online series of training and discussions with Black-owned small business owners and experts, covering topics such as building community. The series kicked off on Friday (August 7th) with an Instagram Live Q&A.
