Elon Musk snaps up 9.2% stake in Twitter for $3 Bn

Here are today’s top trending news from the world of technology and tech business. Like always, we’ve picked up  most trending stories that are making headlines in the world of technology. So lets get started.

1)

Elon Musk snaps up 9.2% stake in Twitter for $3 Bn

In a rather surprising development, it was revealed on Monday that SpaceX and Tesla’s CEO Elon Musk has bought 9.2% stake in Twitter. This was disclosed by Twitter’s regulatory filings on Monday. This development has come to light barely a week after Musk tweeted that he is planning to launch his own social media network. Although Musk’s investment in Twitter is passive one, with 9.2% stake he has now become the largest stake-holder in the social media company. Analysts claim that there is every possibility that Musk might further increase his stake in Twitter in near future. By the way, Twitter shares enjoyed its best ever trading day on Nasdaq on Monday, all thanks to Musk. Twitter shares rose by 27% on Monday, its biggest ever rise single day rise since its IPO launch in 2013.

2)

Two top executives resign from Donald Trump’s Truth Social

According media reports, Former U.S. President Donald Trump’s app Truth Social has lost two key executives. Sources claims that these two key executives – Chief Technology Officer Josh Adams and Chief Product Officer Billy Boozer – were going to play a very critical role in the success of Truth Social app. The resignation of these two executives could not have come at a worse time for Truth Social app, which has been plagued with technical issues since its high-profile launch in February. As such, Truth Social app’s download numbers have crashed massively during the last one month. Close sources claim that even Donald Trump has been demoralized by Truth Social’s inability to resolve technical issues and its plummeting download numbers. Experts have already branded Trump’s app as a disaster.

3)

Popular E-mail marketing firm Mailchimp gets hacked

If you’re an upcoming entrepreneur or into digital marketing then you must have heard the name Mailchimp, which is a very popular email marketing platform. Well, the popular email marketing platform confirmed on Monday that its system was recently hacked through sophisticated phishing attack. Initial information reveals that an insider’s job cannot be ruled out as Mailchimp confirmed that the hacking was carried by using company’s internal tools. Reports claim that hackers managed to get access to the data of nearly 102 Mailchimp users, though the company refused to disclose about the data that eventually got hacked. However, sources claim that the data of Mailchimp users hailing from crypto and finance industry were largely compromised through this phishing attack.

4)

TIKTok’s parent company ByteDance used scarp content from Instagram and Snapchat account to make fake accounts

In a shocking development, it has come to light that TIKTok’s parent company ByteDance used scrapped content of Instagram & Snapchat including short form videos, usernames, profile pictures and profile descriptions. These scrapped contents were later uploaded to ByteDance’s another popular app Flipagram to create fake accounts. Shockingly, this was done without the knowledge and consent of Instagram and snapchat users. This shocking news was broken by ByteDance’s four former employees, who have kept their identity secret. The former employees claimed that this project was one of the many hacks that ByteDance used to artificially inflate Flipagram’s userbase numbers. ByteDance has still not commented on the issue. For all those don’t know Flipagram is now known by new name Vigo Video and is designed to help people showcase their creative skills through short videos.