Meta and Snap both appear to have re-focused their social media strategies on video, leading to speculation they’re chasing TikTok, famously the U.S.’s “most downloaded app of 2021,” which at 94 million handily topped the 64 million of the second most popular, Meta’s Instagram. Meta CEO Mark Zuckerberg told analysts last week that even though Instagram’s Reels is the company’s most rapidly growing format, “we also have a competitor that is compounding at a pretty quick rate, too.” ByteDance’s TikTok, Zuckerberg said, “continues to grow at quite a fast rate off of a very large base.” Read more

Dimenco’s new stereoscopic 3D display has been called “breathtaking” and the future of screen viewing. The Netherlands-based company’s Simulated Reality Pro gives the impression of images coming out of the screen without special eyewear. Dimenco defines Simulated Reality (SR) as immersive technology somewhere between augmented reality and virtual reality. Dimenco’s display tech relies on visual parallax and perspective-shifting to provide its SR experience. The viewer’s eyes are tracked by an in-unit sensor that serves discrete left- and right-eye views rapidly enough to read as a single image, allowing you to “look around” the picture elements. Read more

Amazon had a merry Q4, doubling net income to $14.3 billion from $7.2 billion the prior year. While quarterly revenue of $137.4 billion was up 9 percent due largely to its “biggest-ever” Black Friday to Cyber Monday shopping weekend, the profit surge was the result of a pre-tax gain of $11.8 billion from its investment in Rivian. The electric car manufacturer completed an initial public offering in November. The Amazon Web Services cloud unit grew revenue 40 percent to $17.8 billion, more than $5 billion of it income. Total 2021 revenue was $469.8 billion, up 22 percent. Read more

Snap Inc. ended 2021 with its first net profit on quarterly results since going public in 2017, with Q4 earnings of $22.5 million versus last year’s net loss of $113 million during the same period. The company’s Q4 revenue of $1.3 billion marked a 42 percent increase year-over-year, while Snapchat’s daily active users rose 20 percent to 319 million, beating analyst estimates on both counts, which sent Snap stock soaring last week. In 2022, Snap has to contend with Apple’s iOS privacy changes, something Meta Platforms forecasts will take a $10 billion bite out of its own earnings.  Read more

Pinterest stock spiked in extended trading Thursday after its 2021 earnings results stressed the company’s first full-year of profit, as well as the first year to tick above $2 billion in annual revenue. Pinterest stock rose 28 percent in extended trading on a better than expected Q4. “We took important steps in 2021 with the launch of our foundational technology to deliver a video-first publishing platform,” Pinterest co-founder and CEO Ben Silbermann said, emphasizing that the company would continue to focus on the new initiatives that helped revenue grow 20 percent for Q4 and 52 percent for the year. Read more