On Wednesday, Facebook (NASDAQ: FB) admitted that Apple’s upcoming iOS 14 could lead to a more than 50% drop in its Audience Network advertising business.
On Wednesday, Facebook (NASDAQ: FB) admitted that Apple’s upcoming iOS 14 could lead to a more than 50% drop in its Audience Network advertising business. The social media giant said that its apps on iOS 14 will not collect IDFA, a unique device ID number that allows advertisers to follow users across different apps. Facebook did also say that it was working on short and long-term strategies to support the users through these changes. Click here to read more.
Kevin Mayer, CEO of TikTok, has quit the company after only being in the role for 100 days. In his resignation letter, Kevin Mayer stated that his decision to leave was due to the fact that the sale of TikTok’s U.S. business would significantly alter the role he signed up for in the first place. TikTok, in its official statement, said that it understood Kevin Mayer’s reason for leaving the company and expressed its gratitude for his service. Click here to read more.
After reporting Q2 results that beat Wall Street estimates, Box Inc (NYSE: BOX), a company that provides cloud-based solutions, joined the group of tech companies benefiting from the work-from-home trend accelerated by the Covid-19 pandemic. Total revenue rose 11% to $192.3 million from $172.5 million in Q2 2019. The company also raised its full-year revenue guidance to a range between $767 million and $770 million. Shares jumped more than 14% on the news and the shares have been up 15% this year. Click here to read more.
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Here are the biggest movers in pre-market trading
1. Jeff Bezos is now worth more than $200 billion. Click here to read more.
2. Tesla’s market valuations topped $400 billion after another record close for stock. Click here to read more.
3. Apple plans to open a “floating” store in Singapore. Click here to read more.
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