Amazon hikes Prime membership fees in US

For the holiday quarter, the company earned $14.3 billion, double its net income from a year earlier.

Amazon.com Inc on Thursday said it was raising the price of its annual U.S. Prime subscriptions by 17%, as it looks to offset higher costs for shipping and wages that it expects to persist this year.

Shares rose as much as 17% in extended trade as Amazon also beat profit expectations for the holiday season. If shares increase on Friday by that much, it would be the stock’s biggest percentage gain since October 2009 and grow founder Jeff Bezos’ wealth by about $20 billion.

For the holiday quarter, Amazon earned $14.3 billion, double its net income from a…read more

YouTube Shorts hit 5 trillion all-time views

The Google-owned video streaming giant on Tuesday said that this is helping its creator community reach newer and bigger audiences

YouTube Shorts, a TikTok-like short form video app, has hit 5 trillion all-time views and has over 15 billion views each day globally, Alphabet and Google CEO Sundar Pichai has said during the company’s earnings call.

The Google-owned video streaming giant on Tuesday said that this is helping its creator community reach newer and bigger audiences.

“We are also seeing exciting momentum at YouTube. YouTube Shorts continues to drive significant engagement. We just hit 5 trillion all-time views and have over 15 billion views…read more

Twitter testing new feature to allow users to post longer messages

Jane Manchun Wong, known for finding experimental features within apps, discovered the existence of a ‘Twitter Articles’ tab, reports Engadget

Twitter is reportedly working on a new feature that would cater to the needs of those who want to share their thoughts on the micro-blogging site in one lengthy article.

Jane Manchun Wong, known for finding experimental features within apps, discovered the existence of a “Twitter Articles” tab, reports Engadget.

The name itself signifies a long-form format for the social network that has long only allowed people to post bite-sized text messages, but its exact nature is…read more

6 Reasons that Meta is in Trouble

The company formerly known as Facebook has hit major turbulence as it suffered its biggest one-day wipeout ever.

Meta, the company formerly known as Facebook, suffered its biggest one-day wipeout ever on Thursday as its stock plummeted 26 percent and its market value plunged by more than $230 billion.

Its crash followed a dismal earnings report on Wednesday, when Mark Zuckerberg, the chief executive, laid out how the company was navigating a tricky transition from social networking toward the so-called virtual world of the metaverse. On Thursday, a company spokesman reiterated statements from its earnings announcement and declined to comment further.

Here are six reasons that Meta is in a difficult spot.

  • User growth has hit a ceiling.

The salad days of Facebook’s wild user growth are over.

Even though the company on Wednesday recorded modest gains in new users across its so-called family of apps — which includes…read more

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