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Dropbox announces COO Dennis Woodside is leaving as its second quarterly check-in with Wall Street once again outperforms

Back when Dennis Woodside joined Dropbox as its chief operating officer more than four years ago, the company was trying to justify the $10 billion valuation it had hit in its rapid rise as a Web 2.0 darling. Now, Dropbox is a public company with a nearly $14 billion valuation, and it once again showed …

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Musical.ly investor bets on internet radio with $17M deal for Korea’s Spoon Radio

One of the early backers of Musical.ly, the short video app that was acquired for $1 billion, is making a major bet that internet radio is one of the next big trends in media. Goodwater Capital, one of a number of backers that won big when ByteDance acquired Musical.ly last year, has joined forces with …

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New York City Council votes to cap licenses for ride-hailing services like Uber and Lyft

The New York City Council has approved legislation that will halt the issuing of new licenses for ride-hailing services like Uber and Lyft. The stated goal of the policy is to give the city time to study the industry’s impact. During that time, ride-hailing companies would only be able to add new vehicles if they’re …

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Snapchat shrinks by 3M users to 188M despite Q2 earnings beat

The Stories War has officially killed Snapchat’s growth. In Q2 2018 earnings today, Snapchat’s daily user count shrank 1.5 pecent percent to 188 million this quarter, down from 191 million and positive 2.9 percent user growth last quarter. Snapchat did beat earnings expectations with $262.3 million in revenue and a loss of $0.14 while Wall …

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Facebook taps banks, but for chatbots not purchase data like Google

Backlash swelled this morning after Facebook’s aspirations in financial services were blown out of proportion by a Wall Street Journal report that neglected how the social network already works with banks. Facebook spokesperson Elisabeth Diana tells TechCrunch it’s not asking for credit card transaction data from banks and it’s not interested in building a dedicated …

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