Here are the top trending news from the world of technology. News that we feel every tech enthusiast should keep a tab on.
Elon Musk gets a reality-check from SpaceX Employees
Elon Musk’s behavior is a source of embarrassment and distraction for the company. These stinging remarks have been made by SpaceX employees in a letter addressed to the SpaceX management. This letter reportedly includes details about Musk’s many antics, including his unhealthy obsession with Twitter. And, of course, the recent allegation of sexual misconduct levelled against him by a company’s female employee. However, personally speaking, this controversial letter is unlikely to put the tech billionaire in a spot of bother. That’s because Musk is not only SpaceX’s CEO but also owns the majority shares in the company.
Walmart backed PhonePe denies report that it is planning for an ‘IPO’
PhonePe, one of the prominent players in India’s UPI market, has flatly denied the rumors that it is planning for an IPO. PhonePe, which as we all know competes with Google Pay and Paytm, said it won’t go for an IPO until its core UPI business turns profitable. The company had to come out with a clarification after news portal Livemint claimed that it is planning to go public pretty soon and is seeking a valuation of nearly $8-$10 Bn. For all those who are not aware, U.S. retail giant Walmart owns nearly 80% stake in PhonePe through its subsidiary firm Flipkart.
With 1.5Bn monthly users, YouTube Shot is giving tough competition to TikTok
It seems that TikTok has finally got a serious competitor and that competitor is none other than YouTube Shots – YouTube’s very own TikTok clone. The Google owned streaming giant said on Wednesday that YouTube Shot’s monthly users have now reached 1.5Bn. Of course, TikTok has even more monthly users but YouTube Shot’s 1.5 Bn monthly users is not a small figure by any means. These numbers are surely shot in the arm for YouTube Shot, which was launched only in July last year, and will now desperately try to close the gap with TikTok.
Snap is getting into ‘paid subscription’ with Snapchat Plus
Days after the Telegram app announced that it will launch a paid subscription plan, video messaging app Snapchat is also reportedly making similar moves. According to reports, Snap Inc. – the parent company of Snapchat – is internally testing a paid subscription plan called Snapchat Plus. The Snapchat Plus will obviously offer tones of paid features that the normal plan doesn’t. This includes exclusive access to Snapchat icons, checking friend’s whereabout in last 24 hours and many more features. However, it is still not known, when does Snap plans to launch this subscription plan.
Baidu is planning to sell stake in China’s Netflix
China’s search giant Baidu is reportedly planning to sell its stake In China’s streaming giant iQIYI. iQIYI is a Nasdaq listed company and is often hailed as China’s answer to Netflix. According to media reports, Baidu is expecting to fetch nearly $7Bn through this stake sale. iQIYI is China’s no 2-streaming player while the no 1 spot is held by Tencent video. As far as Netflix’s own position in the Chinese market is concerned then Netflix is almost banned in China.