Techmeme: Meituan reports Q1 revenue of $5.8B, up 120.9% YoY, and a loss of $752M; CEO says Meituan is reviewing its business practices amid China's antitrust probe (South China Morning Post)

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May 30, 2021, 4:25 PM

Top News

Tyler Sonnemaker / Insider:

Court docs detail Google's user location data collection, efforts to hide an off toggle deep in Android settings, pressure on partners like LG to do the same — - Google made it nearly impossible for users to keep their location private, according to newly unredacted court documents.

More: The Verge, Engadget, Android Police, 9to5Google, mobilesyrup.com, BGR, AppleInsider, phonearena.com, iThinkDifferent, CNET, and Pixel Envy

Tweets: @jason_kint, @wolfiechristl, @aagha, @luisbruno, @patrickmcgee_, @davewiner, @jernejv, and @alistairmbarr

Doc Searls Weblog:

Apple's claims about respecting privacy aren't fully serious, as the iPhone default doesn't disallow apps from tracking users, instead expecting users to do so — If you haven't seen it yet, watch Apple's Privacy on iPhone | tracked ad. In it a guy named Felix (that's him, above) …

More: Daring Fireball and Pixel Envy

Tweets: @dsearls, @itsjeffhiggins, @hjarche, and @jason_kint

Aidan Moher / Wired:

Amid a boom in retro gaming, enthusiasts are scouring online marketplaces for old CRTs, as modern displays can't replicate the unique characteristics of CRTs — Thanks to a retro gaming renaissance, enthusiasts are scouring online marketplaces for 20-year-old CRTs.

Tweets: @wired, @marshacollier, @echoplex420247, @verygooster, @whelpmaurice, @tyschalter, @adribbleofink, @adribbleofink, @kenley_k, @finishingmycof1, and @b3ttyoops

South China Morning Post:

Meituan reports Q1 revenue of $5.8B, up 120.9% YoY, and a loss of $752M; CEO says Meituan is reviewing its business practices amid China's antitrust probe — Meituan's first-quarter revenue reached US$5.8 billion, up 120.9 per cent from a year earlier Net losses widened to US$752 million …

Source: PR Newswire. More: Bloomberg and PingWest

Neil Cybart / Above Avalon:

Through its custom silicon, integrated sensors, design-led focus on user experience, and broad ecosystem, Apple is a decade ahead of rivals in wearables — Last week, Apple quietly unveiled one of the more remarkable pieces of technology that has been developed in the past few years.

More: Daring Fireball and iThinkDifferent

Tweets: @neilcybart, @greengart, and @greengart

Anne Stych / The Business Journals:

Hello Heart, a heart health management app employers can offer their employees as a benefit, raises $45M Series C led by IVP and says its business is up 3X YoY — Digital health management company Hello Heart has completed a $45 million Series C to drive growth.

Source: helloheart.com. More: VatorNews and medcitynews.com

Packy McCormick / Not Boring:

A bull case for Ethereum, which is the backbone and a settlement layer of a decentralized internet that continues to grow as DeFi and NFTs explode in popularity — A Bull Case for Ethereum … Hi friends 👋 , — Happy Monday! Sometimes, it's better to be lucky than good.

More: The Irrelevant Investor, Coinmonks, and Crypto Briefing

Tweets: @gavinsbaker, @packym, @mdudas, @mdudas, @glynmoody, and @cnyari

Chance Miller / 9to5Mac:

In an email to podcasters, Apple says it is delaying the launch of its Podcasts Subscriptions and channels until June and plans improvements to its Podcasts app — Apple has announced in an email to podcasters today that it is delaying the launch of Apple Podcasts Subscriptions.

Hannah Murphy / Financial Times:

How online criminals are turning to unlicensed crypto exchanges and over-the-counter crypto brokers to cash out profits and how crypto forensic firms track them — Criminals are locked in battle with Forensics firms tracking how Treasure Men, privacy wallets and gift cards are used to turn virtual hauls into hard cash

Tweets: @dimartinobooth, @paulkrugman, and @mshannahmurphy

Faris Mokhtar / Bloomberg:

Tech companies took up 22% of new office space in Singapore between 2015-2020, up from 8% between 2004-2014, led by Amazon, as financial firms reduced workspace — In the financial mecca of Singapore, a new crowd is flocking to its offices: technology companies.

Tweets: @business

Nora Caplan-Bricker / New Yorker:

Despite a wave of complaints, pushback from top universities, lawsuits, and accusations of bias, Proctorio's client list grew over 500% from 2019 to 2021 — Despite students' complaints and the coming return to in-person learning, Proctorio and its rivals are betting on a lucrative future.

Tweets: @ncaplanbricker, @jessifer, @newyorker, @bonstewart, @jofrhwld, @krystafauria, @newyorker, @fennelaurora, @shorterpearson, @benwolfevision, @cayneletizia, @autumm, @jessifer, @hypervisible, and @hypervisible

Jim Dallke / Chicago Business Journal:

Relativity, which helps law firms analyze large datasets, acquires Text IQ, an AI startup that helps businesses identify sensitive data, reportedly for $100M+ — The deal is reportedly worth more than $100 million — Two months after landing an investment from Silver Lake at a $3.6 billion valuation …

Source: PR Newswire. More: Chicago Business, Reuters, Artificial Lawyer, TechRepublic, and VentureBeat

Tweets: @techrepublic and @therealsjr

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From Mediagazer

Alex Isenstadt / Axios:

The White House launches White House Wire, a website that looks similar to the Drudge Report, to promote pro-Trump news stories

Kelcee Griffis / Bloomberg:

FCC Commissioner Anna Gomez, the sole Democrat after Geoffrey Starks left, is set to offer a dissenting voice against FCC Chairman Brendan Carr's media policies

Daniel Boffey / The Guardian:

Court document: Rebekah Brooks took a “deeply concerning interest” in the phone hacking campaigner Tom Watson, and one journalist wrote that he “must die”

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More News

Lily Hay Newman / Wired:

Google researchers detail “Half-Double”, a new Rowhammer attack technique they say will be difficult to mitigate as future generations of DRAM chips get smaller

Tweets: @ucsdjacobs, @gadgetlab, and @wired

Reuters:

Indian conglomerate Tata Group buys a majority stake in e-grocer Bigbasket; previous reports suggest that the deal is worth $1.31B for a stake of up to 64.2%

More: The Week, The Hindu, Livemint, Moneycontrol, The Economic Times, PYMNTS.com, Tech in Asia, and Reuters. Tweets: @docolumide

Stu Woo / Wall Street Journal:

US's campaign against Huawei has opened the $35B/year cellular equipment market, giving rise to new players and helping US's bid to counter China's 5G dominance

Tweets: @wsjtech, @wsj, @brendancarrfcc, and @ajitpai

Reuters:

Sprinklr, a provider of customer service software, files for an IPO and reports revenue of $386.9M and net loss of $41.2M in the year ended January 31

Kate Kaye / Digiday:

Google says it won't build itself Privacy Sandbox backdoors, but whether it will allow itself to use individual-level data from Chrome users remains unclear

Tweets: @kyotonio

Earlier Picks

Reuters:

Wejo, which collects and analyzes real-time vehicle data, is going public via a SPAC merger to raise $330M, which will value Wejo at $800M including debt

More: TechCrunch

BuzzFeed News:

Venmo will now let users control the visibility of their friends list, following a report in which Biden's Venmo account and connections were easily found

More: Insider, SlashGear, MUO, Gizmodo, Newser, Engadget, The Verge, CNET, and MSPoweruser

Tweets: @wongmjane, @eff, @eff, @lamarrwilson, @laszlobock, @wongmjane, @rmac18, @johnwilson, @antumbral, @katienotopoulos, @bascule, @authoridad, @rmac18, @rmac18, and @carnage4life

Jay Peters / The Verge:

WhatsApp reverses course and says it won't limit functionality for users who don't accept its new privacy policy

More: iThinkDifferent, TNW, Gizmodo, news.com.au, Tom's Guide, Engadget, Mashable, Insider, Slashdot, AppleInsider, MUO, phonearena.com, Livemint, 9to5Mac, SlashGear, mobilesyrup.com, and MSPoweruser. Tweets: @gizmodo

Carrie DeCell / Knight First Amendment Institute:

In a court filing, the Biden administration indicates it will defend a Trump-era rule that requires US visa applicants to register their social media handles

Tweets: @knightcolumbia, @minhtngo, @cmd_dc, @cmd_dc, @evelyndouek, @jimbovard, @jameeljaffer, @krhawkins5, and @idaorg