10 things in tech you need to know today
Good morning! This is the tech news you need to know this Wednesday.
- Facebook is set to invest $5.7 billion in Jio Platforms, India's popular mobile internet service. The multi-billion-dollar stake makes Facebook the largest minority shareholder in Jio, which is a part of Reliance Industries Limited.
- The Small Business Administration has told thousands of businesses applying for disaster loans that their personal information was mistakenly leaked. A bug in the SBA's site was mistakenly showing applicants' personal information to other applicants who subsequently used the portal.
- Apple and Google's new smartphone alert system for tracking the coronavirus could be 'alarming' for privacy, a US senator has warned. Josh Hawley is pressing Google CEO Sundar Pichai and Apple CEO Tim Cook to raise privacy questions about the companies' joint contact-tracing technology.
- Snap's ad business defied coronavirus fears in Q1 and its stock popped as a result. Snapchat's parent company grew its revenue 44% in the first three months of the year.
- Some of Google's summer international interns are being told their pay will be slashed by almost half – and they have just 24 hours to accept the new offer. Google's summer international interns will all be logging on remotely in 2020, but they will also be getting paid less than they were originally told.
- The CEO of $1.8 billion payment startup Airwallex has described what it was like to raise $160 million during the pandemic. Airwallex CEO Jack Zhang told Business Insider that due diligence questions became tougher, and some smaller investors were forced to drop out after the US stock market crash.
- Ticketmaster has announced it will offer refunds on postponed events after a backlash from angry customers and lawmakers. More than 30,000 events have been canceled or postponed, the company said, noting that two of its largest organizers are beginning to offer refunds.
- Fortnite creator Epic Games has put its game on the Google Play Store for the first time ever. Epic Games has finally put Fortnite on the Google Play Store, but it says it only did so because Google puts outsider apps at a disadvantage.
- Security and ID verification startup ForgeRock raised $93 million in a Series E funding round – just as the global pandemic took hold. CEO Fran Rosch said raising during the outbreak made the fundraise even more stressful than usual.
- 1,900 strangers in Spain teamed up to create 3D-printed ventilators to send to hospitals on the frontlines of the COVID-19 crisis. Using an old model, the team worked 12 hours a day to be able to donate record numbers of 3D-printed ventilators to help fight the COVID-19 crisis.
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- GST revenue collection for July rises by 33% with ₹1,16,393 crore
- Policy ignition: India's satellite navigation sector set for higher growth trajectory
- COVID-19 cases in Kerala are spiking due to good detection, better reporting and early easing of restrictions
- Ransomware attacks hit record 300 million in first half of 2021, reveals new report
- Tokyo Olympics: India's Satish Kumar exits from quarter-finals in boxing after losing to Bakhodir Jalolov