Startups Weekly: Zoom CEO says its stock price is ‘too high’

When Zoom hit the public markets Thursday, its IPO pop, a whopping 81 percent, floored everyone, including its own chief executive officer, Eric Yuan. Yuan became a billionaire this week when his video conferencing business went public. He told Bloomberg that he actually wished his stock hadn’t soared quite so high. I’m guessing his modesty […]

Facebook now says its password leak affected ‘millions’ of Instagram users

Facebook has confirmed its password-related security incident last month now affects “millions” of Instagram users, not “tens of thousands” as first thought. The social media giant confirmed the new information in its updated blog post, first published on March 21. “We discovered additional logs of Instagram passwords being stored in a readable format,” the company […]

Pinterest prices IPO above range

Pinterest priced shares of its stock, “PINS,” above its anticipated range on Wednesday evening, CNBC reports. The company will sell 75 million shares of Class A common stock at $19 apiece in an offering that will attract $1.4 billion in new capital for the visual search engine. The NYSE-listed business had planned to sell its […]

Zoom, the profitable tech unicorn, prices IPO above range

Zoom, a relatively under-the-radar tech unicorn, has defied expectations with its initial public offering. The video conferencing business priced its IPO above its planned range on Wednesday, confirming plans to sell shares of its Nasdaq stock, titled “ZM,” at $36 apiece, CNBC reports. The company initially planned to price its shares at between $28 and […]

Unpacking Pinterest’s IPO expectations

For seven years, Pinterest has been considered a “unicorn,” boasting a valuation larger than $1 billion since its 2012 Series C funding round. Before that, it was considered an underdog, puzzling some investors with its “digital pinboard” and preference for “quality growth.” Now, as the company takes its final step toward its Thursday NYSE initial […]

Equity Shot: Pinterest and Zoom file to go public

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. What a Friday. This afternoon (mere hours after we released our regularly scheduled episode no less!), both Pinterest and Zoom dropped their public S-1 filings. So we rolled up our proverbial sleeves and ran through the numbers. If […]

Facebook admits it stored ‘hundreds of millions’ of account passwords in plaintext

Flip the “days since last Facebook security incident” back to zero. Facebook confirmed Thursday in a blog post, prompted by a report by cybersecurity reporter Brian Krebs, that it stored “hundreds of millions” of account passwords in plaintext for years. The discovery was made in January, said Facebook’s Pedro Canahuati, as part of a routine […]

Snap is under NDA with UK Home Office discussing how to centralize age checks online

Snap is under NDA with the UK’s Home Office as part of a working group tasked with coming up with more robust age verification technology that’s able to robustly identify children online. The detail emerged during a parliamentary committee hearing as MPs in the Department for Digital, Culture, Media and Sport (DCMS) questioned Stephen Collins, […]

Facebook failed to block 20% of uploaded New Zealand shooter videos

Facebook said it removed 1.5 million videos from its site within the first 24 hours after a shooter livestreamed his attack on two New Zealand mosques, killing 50 people. In a series of tweets, Facebook’s Mia Garlick said a total of 1.2 million videos were blocked at the point of upload. Videos that included “praise […]

Facebook, Instagram and Messenger are down for some users

Facebook and its related family of apps appear to be down for most users right now. There’s not much more information to share at this point, but the web is freaking out (as is to be expected). Facebook has confirmed the outage and we’ll update as we get more information. We’re aware that some people […]