NEWS

UK competition watchdog launches investigation into Facebook’s $400M acquisition of Giphy

Published

4 years ago

June 12, 2020

uk competition watchdog launches investigation into facebooks 400m acquisition of giphy

Facebook wants to be the go-to platform for all of your social needs, but a big move it made last month to take ownership in the world of GIFs — the short, looping videos that people use to convey sentiments in online conversations — may not go as it hopes. The UK Competition and Markets Authority — the country’s antitrust watchdog — today announced that it has launched an investigation into Facebook’s acquisition of Giphy, the popular GIF repository and search engine that it announced last month it would be acquiring, reportedly for $400 million, to integrate into its Instagram team. Specifically, it’s looking to see how and if the deal will lessen competition in the two companies’ respective markets.

“The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services,” it notes in the announcement.

The CMA is now opening up the case for comments from third parties, to be submitted by July 3, 2020.

The CMA further noted that while its investigation is ongoing, Facebook can’t continue with activities related to the acquisition, unless it has prior written approval from the CMA. This includes integrating the products, integrating the teams, working on business deals or contracts together. Facebook and Giphy both have confirmed to the CMA that they are complying with the order.

GIFs are so ubiquitous on the web, and so easy (and free) to import and use, that the business model behind them is not that immediately obvious, and so it might seem odd to hear about an antitrust complaint related to the acquisition of a GIF platform. However, this is Facebook — a company that’s long been in the crosshairs of competition regulators both in the US and in Europe — and for what it’s worth, even without big money involved (yet), Giphy is huge when it comes to searching for and using GIFs.

And GIFs stand to occupy a big role in the business of the internet, both in general and more direct ways.

On the direct side, while Giphy up to now has not made any money, there is an obvious opportunity to move into the area of sponsored GIFs, and more services to create and disseminate GIF-based content. For a company like Facebook ever looking for more innovative and varied advertising formats that work in a social media context, the allure of a popular platform to fill out that commercial vision is obvious.

On the more general side, they are a key way to create more engagement in social media, another major goal of Facebook — again, as a route to fuelling more audience and eyeballs to drive more ad business. The two already had an integration before Facebook ever made a move to buy it: a full 50% of Giphy’s traffic came from its integrations with Facebook properties Instagram, Messenger and WhatsApp, as well as Facebook itself, speaking to just how linked the use cases already are for the two.

Facebook has had mergers investigated by the CMA before, although it’s never really been given a hard ride through any of them. Perhaps most notably was the company’s $19 billion acquisition of WhatsApp, the hugely popular messaging platform: given how both platforms, and others at Facebook, have continued to grow, you could argue that there was some antitrust regret over the no-strings-attached nod that the deal got when it closed — which has led to fines after the fact. So it will be interesting to see if the CMA exercises more foresight, or at least better hindsight, with this deal rather than just going through the motions.

Related Topics:Europe Government M&A Social TC TCUK

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FACEBOOK

Facebook Faces Yet Another Outage: Platform Encounters Technical Issues Again

Published

1 month ago

March 20, 2024

Max

Uppdated: It seems that today’s issues with Facebook haven’t affected as many users as the last time. A smaller group of people appears to be impacted this time around, which is a relief compared to the larger incident before. Nevertheless, it’s still frustrating for those affected, and hopefully, the issues will be resolved soon by the Facebook team.

Facebook had another problem today (March 20, 2024). According to Downdetector, a website that shows when other websites are not working, many people had trouble using Facebook.

This isn’t the first time Facebook has had issues. Just a little while ago, there was another problem that stopped people from using the site. Today, when people tried to use Facebook, it didn’t work like it should. People couldn’t see their friends’ posts, and sometimes the website wouldn’t even load.

Downdetector, which watches out for problems on websites, showed that lots of people were having trouble with Facebook. People from all over the world said they couldn’t use the site, and they were not happy about it.

When websites like Facebook have problems, it affects a lot of people. It’s not just about not being able to see posts or chat with friends. It can also impact businesses that use Facebook to reach customers.

Since Facebook owns Messenger and Instagram, the problems with Facebook also meant that people had trouble using these apps. It made the situation even more frustrating for many users, who rely on these apps to stay connected with others.

During this recent problem, one thing is obvious: the internet is always changing, and even big websites like Facebook can have problems. While people wait for Facebook to fix the issue, it shows us how easily things online can go wrong. It’s a good reminder that we should have backup plans for staying connected online, just in case something like this happens again.

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NEWS

We asked ChatGPT what will be Google (GOOG) stock price for 2030

Published

1 year ago

March 20, 2023

Entireweb News Bot

We asked ChatGPT what will be Google (GOOG) stock price for 2030

Investors who have invested in Alphabet Inc. (NASDAQ: GOOG) stock have reaped significant benefits from the company’s robust financial performance over the last five years. Google’s dominance in the online advertising market has been a key driver of the company’s consistent revenue growth and impressive profit margins.

In addition, Google has expanded its operations into related fields such as cloud computing and artificial intelligence. These areas show great promise as future growth drivers, making them increasingly attractive to investors. Notably, Alphabet’s stock price has been rising due to investor interest in the company’s recent initiatives in the fast-developing field of artificial intelligence (AI), adding generative AI features to Gmail and Google Docs.

However, when it comes to predicting the future pricing of a corporation like Google, there are many factors to consider. With this in mind, Finbold turned to the artificial intelligence tool ChatGPT to suggest a likely pricing range for GOOG stock by 2030. Although the tool was unable to give a definitive price range, it did note the following:

“Over the long term, Google has a track record of strong financial performance and has shown an ability to adapt to changing market conditions. As such, it’s reasonable to expect that Google’s stock price may continue to appreciate over time.”

GOOG stock price prediction

While attempting to estimate the price range of future transactions, it is essential to consider a variety of measures in addition to the AI chat tool, which includes deep learning algorithms and stock market experts.

Finbold collected forecasts provided by CoinPriceForecast, a finance prediction tool that utilizes machine self-learning technology, to anticipate Google stock price by the end of 2030 to compare with ChatGPT’s projection.

According to the most recent long-term estimate, which Finbold obtained on March 20, the price of Google will rise beyond $200 in 2030 and touch $247 by the end of the year, which would indicate a 141% gain from today to the end of the year.

2030 GOOG price prediction: Source: CoinPriceForecast

Google has been assigned a recommendation of ‘strong buy’ by the majority of analysts working on Wall Street for a more near-term time frame. Significantly, 36 analysts of the 48 have recommended a “strong buy,” while seven people have advocated a “buy.” The remaining five analysts had given a ‘hold’ rating.

1679313229 737 We asked ChatGPT what will be Google GOOG stock price — *Wall Street GOOG 12-month price prediction: Source: TradingView*

The average price projection for Alphabet stock over the last three months has been $125.32; this objective represents a 22.31% upside from its current price. It’s interesting to note that the maximum price forecast for the next year is $160, representing a gain of 56.16% from the stock’s current price of $102.46.

While the outlook for Google stock may be positive, it’s important to keep in mind that some potential challenges and risks could impact its performance, including competition from ChatGPT itself, which could affect Google’s price.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

NEWS

This Apple Watch app brings ChatGPT to your wrist — here’s why you want it

Published

1 year ago

March 10, 2023

Entireweb News Bot

ChatGPT feels like it is everywhere at the moment; the AI-powered tool is rapidly starting to feel like internet connected home devices where you are left wondering if your flower pot really needed Bluetooth. However, after hearing about a new Apple Watch app that brings ChatGPT to your favorite wrist computer, I’m actually convinced this one is worth checking out.

The new app is called watchGPT and as I tipped off already, it gives you access to ChatGPT from your Apple Watch. Now the $10,000 question (or more accurately the $3.99 question, as that is the one-time cost of the app) is why having ChatGPT on your wrist is remotely necessary, so let’s dive into what exactly the app can do.

What can watchGPT do?

Now if you need a quick refresher on ChatGPT in general, you can read our handy guide answering what is ChatGPT, but in short the artificial intelligence (AI) tool understands and responds to natural language questions based on its vast trove of knowledge gleaned from around the web. Now that can be applied in lots of different ways, to answer questions for you or produce written content based around a prompt.

That core functionality of ChatGPT is a big part of what you can do with watchGPT, quickly accessing it through a complication on your watch. Imagine an actually useful version of Siri on your wrist, that’s what watchGPT promises. Whether the answers are incredibly helpful or completely off-the-wall (which happens), you can easily share the results of your chats over text, email, or on social media (internet celebrity here you come).

The other major use case for watchGPT is generating longer messages quickly on your watch without trying to type with the built-in keyboard or relying on the at times questionable dictation results. Tell watchGPT the type of message you want and it will just write it for you, whether that’s a sonnet for your spouse or a lengthy explanation to your boss on why you are going to be in late this morning.

The app doesn’t store any data, so your watchGPT questions and prompts are yours alone unless you share them with people.

The developer is at work on a number of updates as well. At present you can only pose a single question/prompt at a time, typically the conversational nature of ChatGPT is part of its appeal, that will be possible in the next update. Other updates include a history, the ability to set it to vocal input by default, and the option to have its responses read out loud.

For a one-time fee of $3.99 it’s certainly an interesting application for ChatGPT and one that I think is worth giving a try.

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(Image credit: Modum B.V.)

How to get ChatGPT on your Apple Watch

Just download watchGPT from the App Store (opens in new tab) and you’ll be on your way. Again the app allows you to set it up as a complication for easier access, but otherwise just ask it your question or ask it to type something out for you and it will quickly get the job done.

While ChatGPT may feel omnipresent already, we are still just seeing the tip of the iceberg for its potential usage, so we’ll be keeping our eye out for any unique or interesting applications of the versatile AI tool.