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ByteDance considers shutting down TikTok over U.S. ban legislation, unlikely to sell due to crucial algorithms. China opposes forced sale. Mnuchin shows interest. ByteDance's secret: the TikTok algorithm.
Snap exceeded revenue and user growth expectations, with shares spiking 25%. Improved ad system and user interaction drove Q1 revenue to $1.2 billion. Daily Snapchat users increased to 422 million, and Snap introduced a TikTok-like feature, preparing for potential TikTok ban.
Capria Ventures concluded the Rs 153 crore fundraising for the India Opportunity Fund. The fund, which had invested in Awign in February last year, will return more than 20% of the invested capital to its limited partners or sponsors in funds.
PayU-owned Wibmo is emerging as a key offering for Naspers-backed PayU which is looking to venture deeper into business payments and enter newer markets.
Microsoft beats revenue expectations with AI adoption in cloud services. Stock jumps 4%. Forecasted cloud revenue above Wall Street. Microsoft's value increased by $128 billion. Azure revenue exceeded estimates.