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 […]

Glossier triples valuation, enters unicorn club with $100M round

Glossier, known for its flagship line of barely there beauty products, has landed a $100 million Series D led by Sequoia Capital. The round values Emily Weiss’ business at a whopping $1.2 billion, fully cementing the company as a startup “unicorn” and tripling the valuation it garnered with a $52 million Series C in 2018. […]

Instagram launches shopping checkout, charging sellers a fee

Instagram is opening a whole new revenue stream. Now the 130 million people who tap Instagram’s product tags on shopping posts will be able to buy those items without leaving the app, thanks to stored payment info. “Checkout with Instagram” launches today in the U.S. with more than 20 top brands, including Adidas, Kylie Cosmetics […]

YC-backed Basement is a social network for close friends only

The past few years have been a bit of a dark age for budding social media startups. Facebook, Instagram, Twitter, Snap and messenger apps took up all the time of their users, leaving little room for yet another social media platform. But the tide is shifting. Privacy scandals have shaken some users’ faith in giants […]

Telegram gets 3M new signups during Facebook apps’ outage

Messaging platform Telegram claims to have had a surge in signups during a period of downtime for Facebook’s rival messaging services. In a message sent to his Telegram channel, founder Pavel Durov wrote: “I see 3 million new users signed up for Telegram within the last 24 hours.” It’s probably not a coincidence that Facebook […]

Instagram founders say losing autonomy at Facebook meant ‘winning’

Rather than be sore about losing independence within Facebook, Instagram co-founder Kevin Systrom told me it was an inevitable sign of his app’s triumph. Today at South By South West, Systrom and fellow co-founder Mike Krieger sat down for their first onstage talk together since leaving Facebook in September. They discussed their superhero origin stories, […]

Don’t break up big tech — regulate data access, says EU antitrust chief

Breaking up tech giants should be a measure of last resort, the European Union’s competition commissioner, Margrethe Vestager, has suggested. “To break up a company, to break up private property would be very far reaching and you would need to have a very strong case that it would produce better results for consumers in the […]

Elizabeth Warren wants to break up Google, Amazon and Facebook

The influential Massachusetts senator and presidential hopeful Elizabeth Warren has been a longtime critic of the consolidation of economic power by Amazon, Google and Facebook. Now she’s making their break-up a key component of her presidential platform. Warren has just released her plan for breaking up big tech, in what seems like a watershed moment […]

Facebook will downrank anti-vax content on News Feed and hide it on Instagram

After indicating that it was exploring its options for fighting the potentially deadly rise of anti-vaccination content on its platform last month, Facebook is making a plan of attack. Facebook’s strategy in the effort is to both minimize the spread of vaccination misinformation and to point users away from inaccurate anti-vaccination propaganda and toward “authoritative […]

Zuckerberg wants messages to auto-expire to make Facebook a “living room”

On feed-based “broader social networks, where people can accumulate friends or followers until the services feel more public . . . it feels more like a town square than a more intimate space like a living room” Facebook CEO Mark Zuckerberg explained in a blog post today. With messaging, groups, and ephemeral stories as the […]