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| Welcome to Inside Tech! Here are today's top stories: - Microsoft denies claims that hackers stole the data of over 30 million users.
- Twitter says its new tweet view limits have not affected its advertisement revenue.
- Rivian delivers 300 EVs for Amazon in Europe.
Arbër
p/Arber | |
| 1 | | Microsoft has denied claims that Annonymous Sudan stole the data of over 30 million customers. The hacker group managed to disrupt Microsoft's servers a few weeks ago. More: - Screenshots have appeared of what seems to be the group advertising the sale of the stolen for $50,000 on Telegram.
- While Microsoft confirmed that Anonymous Sudan was able to disrupt several Azure and Outlook servers in June, the tech giant has denied the new claims made by the group that over 30 million customers' data has been stolen.
- The alleged stolen data includes passwords and emails.
- Anonymous Sudan is a group of hacktivists mainly based in Sudan. The group has confirmed that it collaborates with pro-Russia hacker groups such as Killnet.
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| 2 | | The news: Twitter has stated that its new tweet limit rule has not significantly affected its advertisement revenue. Why it matters: Twitter's U.S. ad sales at one point had dropped by 59% YoY during the April-May 2023 period. What's next: The company recently named former NBCUniversal executive Linda Yaccarino CEO. Yaccarino is expected to help the company improve its relationship with advertisers, including some that have stopped advertising. What the numbers say: Twitter's net ad revenue globally grew from $2.9B in 2019 to $4.4B in 2021 before dropping to $4.1B in 2022. It remains to be seen whether the company's structural changes will be able to grow its global ad revenue. 
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| 3 | | Rivian has delivered over 300 custom delivery EVs for Amazon in Europe. The vans will be first deployed in Germany. More: - The vans will be used to deliver packages in Berlin, Munich, and Dusseldorf, joining the fleet of over 1000 EVs that Amazon already has in the country.
- The delivery vans are part of Amazon's initiative to electrify its European fleet by investing more than $1B.
- Around 40% of this investment will be deployed in Germany alone, Europe's largest economy and one of the largest e-commerce markets globally.
- Amazon has over 3000 Rivian electric vans in the U.S. alone and plans to increase this number to 100,000 globally by 2030.
- The vans are built exclusively for Amazon, which is a significant investor in the EV maker.
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| 4 | | Mercuri has raised $81.5M to invest in Generative AI companies across verticals such as SaaS and the creator economy. British Business Bank was the lead investor in this round. More: - The firm aims to invest in artificial intelligence companies that change how content and data are created, distributed, and monetized.
- The U.K.-based VC firm will focus on Seed stage startups.
- So far, Mercuri has invested in 21 startups, including Founders Factory, Oorbit, Vidsy, and Seated.
- Mercuri, which changed its name from GMG Ventures, has been active in the AI space since 2018.
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| 5 | | Walmart-owned Flipkart has introduced its personal loans program in India. The company claims users will be able to receive up to $6,100 within 30 seconds without any required documents. More: - The e-commerce company already offers financial services such as a buy now, pay later option and a branded credit card.
- Flipkart will provide the loans in partnership with Axis Bank.
- Based in Bengaluru, Flipkart has over 30,000 employees and more than 167 million website visitors monthly.
Zoom Out: - Founded in 2007, the company was acquired by Walmart in 2018. Walmart also owns PhonePe, which offers similar fintech services for the Indian market.
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| 6 | | Japan's Economy Minister Yasutoshi Nishimura has stated that Japan aims to become a leader in AI and is actively taking steps to create some of the world's largest AI companies. Nishimura made the remarks in front of a group of students at the University of Tokyo. More: - Japan has recently made legislation changes to reflect its prioritization of AI by creating a specialized fund that will invest in improving the chip production supply chain.
- Highlighting the growing importance of companies such as Nvidia, officials said that the country has an open goal of tripling its domestic chip production by 2030 to regain its status as a leader in chip manufacturing.
- SoftBank Group's founder Masayoshi Son, who also attended the event, said that now is the right time for Japan to invest in AI and that his fund is looking for investment deals.
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- Snap has announced that its premium tier service Snapchat+ now has over four million users.
- A federal judge in Louisiana ordered several Biden administration officials not to contact social media platforms to suppress speakers and viewpoints they disagree with.
- During a recent conference, Microsoft announced that it had sold over 21 million Xbox Series consoles, almost half of which were bought by first-time consumers.
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INSIDE TECH LEADERBOARD (7 DAYS) |
 | Writer | | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. | | This newsletter was edited by Christopher Hachey | |
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