Here is the top trending news from the world of technology. News that every tech enthusiast should keep a tab on.
Uber is finally a profitable company.
After 15 years of continuous trying, Uber has finally become a profitable company. This is a major milestone for the American ride-hailing company. It reported a net income of $1.89 billion for the full year 2023, compared to a loss of $8.5 billion in 2022. Its revenue grew 15% year-over-year to $37 Bn. Uber’s stock price rose modestly after the announcement, but has since fallen back down. Although Uber becoming profitable is a major turnaround for the company, which has historically been a loss making company. It remains to be seen whether Uber can sustain its profitability in the long term.
Instagram to stop recommending political content
Meta has announced that Instagram won’t “proactively recommend” political content from those accounts that users don’t actively follow. This means Instagram will no longer suggest political content in the Explore tab, Reels, Suggested Users, and other recommendation surfaces. However, Users will still see political content from accounts they already follow in their feeds and stories. This decision comes months before American presidential election. But Meta did not officially say that it is making these changes due to the upcoming presidential elections. Instead, Meta argues that it aims to create a more positive and enjoyable experience for users. It should be noted that these changes will also be applicable on Meta’s Twitter like platform Threads.
Google One crosses 100 million subscribers
Google’s CEO Sundar Pichai recently announced that the company has just clocked 100 million subscribers to Google One, which is a all-in-one subscription service that provides additional storage for free services like Gmail, Drive, and Photos. This marks a significant growth for Google One since its launch in 2018. Although Google One’s basic subscription varies from region-to-region, but it typically starts from $1.99. In another exciting news, Google One has just announced that the new AI Premium Plan, which aims to integrate Gemini AI features into various Google services like Gmail and Docs. The monthly subscription price of the AI Premium Plan is US$19.99.
Jeff Bezos sells $2 billion of Amazon shares
Jeff Bezos, the founder and executive Chairman of Amazon, last week sold 12 million shares of Amazon stock, worth over $2 billion dollars. This is a part of a previously announced plan to sell up to 50 million shares over time. This news has sparked various analyses with many saying that this could impact the investor confidence. This is not the first time Bezos has sold Amazon shares. He has sold billions of dollars worth in previous years as well. Bezos, who stepped down as the company’s CEO in 2021, founded Amazon as an online book seller in 1994. Over the decades, he transformed this company into an e-commerce giant with a trillion-dollar valuation.
Elon Musk Ordered To Testify In Twitter Takeover Probe
In a major breaking news, a federal judge ordered Elon Musk to testify again in the SEC’s investigation into his $44 billion takeover of Twitter, now renamed X. This ruling follows a months-long legal battle between Musk and the SEC. The SEC is investigating whether Musk followed all the rules and law while acquiring Twitter last year. If Musk fails to comply with the order, he could face legal consequences, including fines or even jail time. The tech billionaire had refused to meet SEC’s investigating team in September 2023. He argued that the SEC had already interviewed him twice and accused them of harassment.