Facebook is shuttering tbh, the anonymous messaging app it acquired in October, along with two others apps, Hello and Moves, due to low usage.
Between the lines: While Facebook acquired tbh at the height of its short-lived popularity, the deal was a clear way for the social media giant to snap up talented entrepreneurs who can build apps that appeal to teens. Tbh's team released the app just as CEO Nikita Bier was deciding to close up shop after several years of experiments, but it found a hit with this last project.
The federal government's investigation of Facebook's misuse of user information with the data company Cambridge Analytica, already underway at both the Department of Justice and the Federal Trade Commission, also involves the Securities and Exchange Commission, according to the Washington Post.
Why it matters: Although the Post storydoes not specify the SEC's focus, the commission could be looking at whether Facebook improperly withheld information from investors about its relationship with Cambridge Analytica.
Facebook experienced a bug that temporarily unblocked some users from interacting with users who had previously blocked them.
Why it matters: Once again, the company is apologizing for a user privacy violation, this time in a feature that is key to address harassment and abuse. "We know that the ability to block someone is important — and we’d like to apologize and explain what happened," said Erin Egan, the company's chief privacy officer, in a Monday blog post.
Lyft is acquiring bike-sharing company Motivate, which operates urban services like Ford GoBike in San Francisco and Citibike in New York City, confirming recent rumors of the deal. Sources tell Axios the deal was for $250 million, though Lyft declined to comment on the price.
Why it matters: Ride-hailing companies like Uber and Lyft are racing to go beyond car rides. Uber recently acquired bike-sharing company Jump, and both companies are planning to roll out scooter-sharing services.
For Axios' first News Shapers of the summer, Mike Allen and Kim Hart hosted conversations on two of today's biggest stories: Trump's summit with North Korea and the end of net neutrality.
Why it mattered: As the ranking member of the House Intelligence committee, Rep. Schiff provided his insight into how the North Korea summit will impact the global order. Meanwhile Chairman Pai, who oversaw the controversial decision to end net neutrality, explained his reasoning for doing so.
App Annie is out with a fresh look at the most popular and profitable iOS apps and games of all time. It's a list that includes Clash of Clans and Candy Crush, as well as a number of apps from Facebook and Google.
Why it matters: The app economy is huge. Consumers spent $42.5 billion in the iOS App store last year.
Last week, all Amazon had to do was buy a pharmacy startup to wipe $15 billion in value off competing drug chains — but in the booming market for smart assistants, it's Amazon that's been getting its clock cleaned.
What's going on: In the first quarter of 2016, Amazon Echo held 80% of the global smart assistant market, according to Canalys. Chinese companies were so far behind that they registered zero. But just a year later, Amazon has collapsed to a 28% market share, behind Google Home's 36% and ahead of China's Alibaba and Xiaomi with a combined 19%.
Select some live seafood in one of Alibaba's Hema grocery stores in Shanghai, get it rung up and bagged, and a robotic arm will whisk it away to a kitchen. Minutes later, a pod will wheel out of the kitchen, pulling up to your table with your meal under a transparent dome.
What's going on: A raised highway of robot pods has replaced human waitstaff in an already high-tech Hema — with humans mostly left to the greeting and cooking.
"The Seattle region is home to America's two richest men, but their local legacies to date represent two very different eras for the city," AP's Sally Ho writes.
The big picture: "While Amazon's Jeff Bezos is blamed by some for rising rents and clogged city streets, Bill Gates is largely admired for helping lead the computing revolution and donating billions through his philanthropy."
