The majority of Twitter’s revenue comes from targeted advertising, but the company is now developing a subscription product that it has considered for years to create a new revenue stream. According to eMarketer, Twitter’s portion of the global digital ad market remains at 0.8 percent and has grown at a slower pace than those of Facebook and Snap. Its U.S. user base has also leveled off. The COVID-19 pandemic and pressure from investors to drive growth are other factors influencing Twitter’s decision to move forward. Read more

Community-based social site Reddit raised $250+ million in a new round of funding, doubling its valuation to $6 billion from the $3 billion it was valued after a February 2019 round. Led by Vy Capital, the latest funding included Andreessen Horowitz, Sequoia Capital and Tencent Holdings, all previous investors. The social media company, launched in 2005, hosts topic-based message boards, including WallStreetBets, the message board that recently encouraged amateur investors to drive up the stock price of companies shorted by Wall Street investors. Read more

In 2019, Facebook developed open-source network software Magma to help in the speedy, efficient buildout of mobile networks. Now Magma is poised to bring together the software and hardware sides of 5G. Magma provides a software-centric distributed mobile packet core and tools for automating network management that integrates with the existing back end of a mobile network. Importantly, it also meshes with new 5G networks as well as existing LTE networks, which makes it easier to enhance and build mobile networks at scale. The Linux Foundation will now work with groups to host the next stage of Magma’s evolution using a vendor-neutral governance framework. Read more

Massachusetts-based startup Metalenz, just out of stealth mode, is readying the debut of an entirely new lens system for smartphones. Its single flat lens system, based on optical metasurfaces, reportedly produces an image of the same or better quality as traditional lenses, while enabling brighter photos by collecting more light, and offering new forms of sensing. The company just announced a $10 million investment that will enable it to scale production and speed up development of miniature optics and a new lens system targeting smartphones, consumer electronics and applications in the automotive and healthcare industries. Read more

Qualcomm chief executive Cristiano Amon has announced a serious shortage of semiconductor chips impacting a range of industries. In the early days of the COVID-19 pandemic, manufacturers of electronics and vehicles first drastically cut back their demand for chips but then reversed course and demand skyrocketed. Amon is just one of several industry leaders warning of the shortages and highlighting manufacturers’ reliance on outsourcing chip production to companies such as Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung Electronics. Read more