ByteDance's — the parent company of the social media app TikTok —valuation has reportedly dropped over 25% year-over-year. After seeing exponential growth over the past three years, ByteDance's revenue has slowed, due in part to increased competition from Meta’s (META) Instagram Reels and YouTube Shorts (GOOG, GOOGL). Yahoo Finance Tech Editor Dan Howley reports on ByteDance's valuation slump and ongoing discussions surrounding TikTok's regulation in the U.S. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Meta (META) is in talks with European regulators to launch an ad-free subscription service, based on a report from the Wall Street Journal. The ad-free service is reported to cost $14 a month for Instagram on moblie devices and $17 a month for Instagram and Facebook on desktops. Yahoo Finance reporters Seana Smith and Brad Smith break down the report and what it means for the company at large. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Meta's Oversight Board plans to open a case examining an altered video of U.S. President Joe Biden that was flagged by a user on the company's flagship social media service Facebook, the board said in a statement on Tuesday. The board, which is funded by Meta but run independently, said the case would "examine issues related to manipulated media on Meta's platforms and the company's policies on misinformation, especially around elections."