Facebook News Sharing Returns to Australia

Tech News Highlights: February 23, 2021

Recent developments include a resolution in the dispute between Facebook and Australia, an Android system update, and Lucid Motors’ plans to become a publicly traded company through a SPAC merger. This summarizes the key updates in today’s tech landscape.

Facebook and Australian News Sharing

The conflict regarding news content sharing in Australia appears to be resolving. Last week, Facebook temporarily restricted news access for Australian users in response to proposed legislation concerning revenue sharing with news publishers.

However, following amendments to the proposed law, Facebook has announced the restoration of news sharing functionality within the country in the near future.

These amendments introduce a two-month mediation phase before mandatory arbitration is initiated, and also stipulate that existing commercial agreements between platforms and publishers will be considered before the law’s application.

William Easton, Facebook’s managing director for Australia and New Zealand, stated that the revisions address significant concerns regarding the recognition of the value Facebook provides to publishers.

Updates from Tech Companies

Android’s newest software release introduces features such as scheduled text messaging and enhanced password security. A new feature, Password Checkup, will also alert users to compromised passwords.

Twitter is re-launching a test designed to encourage users to reconsider potentially harmful replies before posting them.

Google is leveraging its extensive reach to expand the HTML5 GameSnacks platform, offering quick-loading, bite-sized gaming experiences.

Startup Funding and Venture Capital Activity

Lucid Motors has entered into a SPAC agreement to go public, achieving a valuation of $24 billion. This represents the largest such deal to date involving an electric vehicle startup.

Shippo, a provider of shipping solutions for e-commerce businesses, has secured an additional $45 million in funding, bringing its valuation to $495 million.

Reddit has increased its Series E funding round by an additional $116 million, building upon a previously announced $250 million investment.

Insights from Extra Crunch

Strategies for successfully implementing usage-based pricing models are explored, with OpenView’s Kyle Poyar suggesting it can be a highly effective approach.

Analysis of Oscar Health’s IPO pricing suggests a potentially inflated valuation, as noted by Alex Wilhelm.

A messaging framework, RIBS, is presented as a tool for ensuring a compelling and memorable brand story.

(Extra Crunch is a membership program designed to support founders and startup teams. Sign up details can be found here.)

Additional News

The complete agenda for TC Sessions: Justice, a dedicated event focusing on diversity, equity, inclusion, and labor within the tech industry, has been announced. The event is scheduled for March 3.

Investors based in Miami share their perspectives on the region’s burgeoning startup ecosystem, highlighting its potential as a major hub.

The SolarWinds hackers reportedly targeted networks belonging to NASA and the Federal Aviation Administration as part of a broader espionage operation.

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