SVB served a range of roles across the industry; it not only took startups' cash but also offered them venture debt and other loans while providing banking and lending money to venture capital firms. Roku, for example, said that SVB held 26% of its cash and cash equivalents — around $487 million — as of Friday

Social media used to be free. Not anymore. You used to pay for social media with your eyeballs. Now Meta and Twitter want your money, too.

For the last three years, social networks like Meta Platforms have pledged more tools for creators to help them reach fans and make money, services that aim to attract online influencers and their followers to the apps. Now, Meta’s latest tool comes with a twist, because it's not about "giving" creators something, it's about taking from them: a fee of between $11.99 and $14.99 a month.

The Service is available for 12 countries, including US and Germany, but only has 300,000 subscribers after two months. This will generate around $28 million in annual revenue.

“We’re going to be more proactive about cutting projects that aren’t performing or may no longer be as crucial,” Mark Zuckerberg told at earnings call.

The news comes just months after the company's first ever round of mass layoffs and a rocky 2022 in which Mark Zuckerberg doubled down on the metaverse.

After three years of work on Reels it is finally beginning to pull in meaningful numbers of viewers, according to company executives. But making money from Reels is a more complex issue.

After the roughest year in its history, Meta is starting to bounce back. Meta still heavily reliant on the success of Facebook, bringing in more than two-thirds of Meta's total revenue.
While users are watching its short-form videos and Reels is often associated with young users, Facebook users appear to be bigger consumers of short videos.

The reported $10 billion investment in OpenAI will keep the hottest AI company on Microsoft’s Azure cloud platform.

Internal records show that Twitter has shed about 80% of its employees since Elon Musk took over and headcount is hovering around 1,300 working employees today.

Alphabet, parent holding company of Google, has announced that it’s cutting around 6% of its global workforce.

For the past two years, TikTok executives have denied US allegations of Chinese interference and positioned themselves as an independent entity from its Chinese parent company ByteDance. But new revelations about the company's leadership structure paint a different picture.

Tech giant Microsoft said it is cutting 10,000 jobs, representing about 5% of its global workforce, in an effort to cut costs amid signs of an economic slowdown.

Gas has proven highly popular among high school students, and could become a new challenger for Snapchat.

Purchased for $44 billion, company is likely worth as little as $15 billion today. Now, the looming Twitter interest payment leaves Elon Musk with unpalatable options.

The offer for free advertisements is an attempt to woo brands back to the social-media platform, which has seen its ad business deteriorate following Elon Musk's takeover.

Twitter is now inviting businesses to sign-up for its coming 'Verification for Organizations' subscription offering, which will replace the current verification process.

Microsoft deepens partnership to add GPT to its search and Office suite. OpenAI is valued at 29 billion US-$ at the moment.

Hubs in Europe and Asia are shuttered. The closures will also result in another few hundred Twitter employees losing their jobs. Most of the international offices are smaller outposts for business operations, including engineering and ad sales. Advertising makes up nearly all of Twitter's revenue, but the business has struggled under Musk.

An internal October '22-survey show, what Meta employees think about the company after layoffs, falling stock prices. As a result of all the problems, they are not happy, and only 28% of employees gave a favorable response about their optimism for the company in the internal survey.