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Is Social Media Key to Hitting the Trillions for (Fin)Tech Companies?

Bank Innovation

Could Microsoft be the first technology company to earn a one trillion market value? Analyst Michael Markowski seems to think so, citing the technology giant’s recent acquisition of professional social media site LinkedIn as the boost that pushed Microsoft into the race.

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Social Media Network Nextdoor Eyes IPO

PYMNTS

a social media network that is something of a combined Facebook, Craigslist and Yelp and whose members connect only with neighbors, is exploring going public, Bloomberg News reported. The San Francisco-based company is eyeing valuations from $4 billion to $5 billion, according to Bloomberg, and has seen its business grow amid COVID-19.

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Social media firms should reimburse online fraud victims, say UK bankers

TheGuardian

Boss of industry body UK Finance accuses tech companies of ‘profiting’ from scams on their platforms The boss of the banking industry body UK Finance has called on social media companies to reimburse victims of online fraud, accusing them of “profiting” from scams taking place on their platforms.

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Casper Warns Social Media Celebs Could Pose Investment Risk

PYMNTS

mattress-in-a-box company Casper has underscored the increasing power of social media influencers to propel or hinder brands. Use of social media and influencers may materially and adversely affect our reputation,” the company said.

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Chinese Social Media Startup Seeks Funds At $6B Valuation

PYMNTS

Chinese eCommerce and social media startup Xiaohongshu , also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. The company is backed by Tencent and Alibaba , and it wants to raise somewhere between $400 million and $500 million. Tencent and Alibaba both invested in that round.

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When It Comes To Paid Social Media, Facebook Leads The Way

PYMNTS

Retailers continue to rely on paid search and email marketing channels, but mobile marketing and social media are continuing to increase in popularity as a way for businesses to grow their customer acquisition, according to a new study.

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Why AI Is Social Media Fraud’s New Best Friend

PYMNTS

It can be difficult these days to remember the almost idyllic promise of social media when it first entered the general consumer consciousness. That’s not to tempt one into nostalgia, or to suggest that social media has become marred beyond recognition. Digital Evolution. Fraud Increases. trillion in 2018.