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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. It eventually entered that field itself, and then it became a social media platform. Tencent and Alibaba both invested in that round.

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Deep Dive: Credit Unions Like And Subscribe To Social Media

PYMNTS

. Social media has become a cornerstone of everyday life over the last few decades, with 72 percent of Americans using social media today, a dramatic increase from the mere 5 percent that Pew Research Center first tracked in 2005. How credit unions leverage social media. billion in assets.

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Tencent Vows To Comply With Chinese Regulators’ Increasing Oversight

PYMNTS

As government regulators in China increase tech industry oversight, Tencent said it will comply with new laws intended to curb antitrust activities and tighten FinTech acceleration, according to a Bloomberg report on Friday (Nov. The regulators are looking more closely at transaction-based platforms, Lau said, per Bloomberg.

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Executive Order Looms For Social Media Firms On Content? 

PYMNTS

The summary, according to the site, would direct the FCC to develop new regulations that would detail how the law may protect social media platforms as they move to take content off their sites – and to take those new regulations into account when investigating or filing suit against those firms.

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Closing the Social Media Gap

William Mills

Social media is no longer the shiny new toy in the PR and marketing toy box. Today, financial providers and FinTech firms alike know they must integrate social media into their communications strategies. For many FinTech companies, social media serves primarily as a source for leads.

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Big Tech Compliance Tracker: Facebook Backs Data Portability Law, Amazon Considers Registering Services As Separate Entities In India

PYMNTS

Here’s the latest news from Facebook, Amazon and others, which are coming under increasing scrutiny from regulators, trade groups and politicians the world over. Regulations. Facebook has advocated for a law that would simplify the process of moving videos and pictures to a competing site. Facebook Supports Data-Portability Law.

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DOJ Antitrust Lawsuit Against Facebook No Slam Dunk

PYMNTS

Facebook bought Instagram, the photo- and video-sharing social networking service, in 2012 for $1 billion and WhatsApp, the cross-platform messaging service, in 2014 for $19 billion. He said it was a natural extension of its global social media business and not an attempt to remove a potential competitor from the marketplace. “It