Latest news with #socialnetwork
Yahoo
a day ago
- Business
- Yahoo
Facebook deletes millions of accounts in ‘heartbreaking' purge
Facebook has deleted more than 10 million accounts as part of an ongoing purge of the world's most popular social network. Meta, Facebook's parent company, said the move was aimed at 'cracking down on spammy content' and promoting authentic accounts, however some users have complained about being wrongly caught up in the action. Facebook confirmed the figure in a blog post, revealing that more than a million accounts were deleted each month in the first half of 2025. 'Too often the same meme or video pops up repeatedly – sometimes from accounts pretending to be the creator and other times from different spammy accounts,' the company wrote in the blog post. 'It dulls the experience for all and makes it harder for fresh voices to break through. We're introducing stronger measures to reduce unoriginal content on Facebook and ultimately protect and elevate creators sharing original content.' Dozens of users shared similar experiences on social media of their accounts being removed, despite being legitimate accounts, with some blaming AI systems for wrongly identifying their accounts as inauthentic. 'It seems that the ability to connect is being stripped away by an algorithm that lacks understanding,' one user wrote in a post to the Reddit forum MetaLawsuits. 'Our business is currently suffering now as we struggle to reach clients, business contacts and maintain relationships, while my son's autism support network has been severed, leaving us feeling abandoned... The disconnection feels inhumane, unfair, and utterly heartbreaking.' Referred to as the 'Meta ban wave', the mass deletions also appear to have impacted people on Instagram, which is also owned by Meta. The Independent has reached out to the company for further comment about legitimate accounts being deleted. Any user whose account has been deleted will receive an email informing them of the action. Facebook users can appeal any account suspension within 180 days, according to the company's support pages, after which time the profile will be permanently deleted. The large-scale removal comes as other tech companies take steps to clean up their own platforms. In 2023, Google announced that it would delete all inactive Gmail, Photos and Drive accounts in a move that continues to impact millions of users. Meta boss Mark Zuckerberg has previously proposed even more extreme purges of Facebook in an effort to boost engagement. In 2022, he reportedly sent an internal email that laid out a plan to delete the friends of all Facebook users. 'One potentially crazy idea is to consider wiping everyone's graphs [connections] and having them start again,' he wrote to company executives, who pushed back on the idea.
Yahoo
2 days ago
- Business
- Yahoo
New Social Network Media.com to Champion Online Consumer Protection as Australian Banking Association's Annual Conference Sponsor
SYDNEY, July 21, 2025 (GLOBE NEWSWIRE) -- the world's first and only social network built entirely on verified users and trusted content, is proud to announce its sponsorship of the Australian Banking Association's (ABA) Annual Banking Conference taking place July 23–24, 2025 at the International Convention and Exhibition Center (ICC) in Sydney. As an Event Sponsor of this important industry event, will play a visible role throughout the two-day program, where leaders from Australia's banking sector, regulators, policymakers, and technology innovators gather to address the future of banking in a rapidly evolving digital landscape. will host an interactive exhibition booth where attendees can experience live product demonstrations, learn about how protects consumers, and why is the trusted alternative for social networking. With an interest in fueling critical conversations and connections among attendees, the company is also hosting the conference coffee stand. According to the Australian government's 2024 National Anti-Scam Centre Report, 'the most reported contact method leading to financial loss was social media,' and more Australians lost money via social media in 2024 than the year prior. These social platforms - where fake identities, bots, and anonymity reign - have become the primary vehicle for scammers targeting consumers and banks alike. However, offers a credible, secure social networking experience where every user is verified before they can join the network, create content or connect with others. This simple, powerful safeguard drastically reduces the risk of scams, impersonation, and misinformation - protecting users all while stabilizing the financial ecosystem. 'Becoming a sponsor of the ABA's flagship event was a strategic priority for us given the challenges the banking industry is facing from the misuse of social networks to target consumers,' said James Mawhinney, founder and CEO. 'The ABA and its members have shown great leadership by prioritizing consumer protection, a mission that closely mirrors that of which aims to restore public trust in online information and support the banking sector's immediate need for solutions that protect consumers from harm. This is why we've integrated the same best in class user verification technology on our network that banks use worldwide to verify customers, as we know the solution begins with accountability and transparency – two of the principles embedded in DNA.' A Critical Call to Action By supporting the adoption of a verified network like banks can help shield consumers from the social media-driven scams eroding trust and impacting financial stability. Banks can: Create verified profiles on to provide a safer digital touchpoint for customers Promote to their customers as a safe and trusted alternative to traditional social networks Lead a movement toward digital accountability and trust in Australia's online banking landscape 'A stable, trusted banking environment is critical for the future of Australia,' said Mawhinney. 'We've built the infrastructure for safer online engagement—one that not only protects consumers, but also helps reduce fraud, improve trust, and ultimately protect their bottom line. This isn't about competing with social media—it's about replacing what's broken with something better.' This year's ABA conference focuses on the difficulties and opportunities ahead for financial services, including consumer protection, regulatory shifts, sustainable finance, risk management, and the sector's broader digital transformation. participation underscores its commitment to helping industries like banking embrace technologies that uphold user trust and safeguard information. Knowing how important consumer protection is, commitment to trust, transparency, and innovation aligns with the values that underpin Australia's banking sector. Launched in Beta in late 2024, is transforming social networking by verifying every user, ensuring all content is traceable to its source. This approach fosters a safer, more accountable digital space—free from fake profiles, bots, and misinformation—designed for people and businesses seeking meaningful, credible engagement online. With attendance from banking CEOs, regulators, and global thought leaders, the ABA conference offers a unique opportunity to demonstrate its impact, engage with decision-makers, and align with the collective vision for a stronger, more trusted digital future. About is a next-generation online social network designed for people who value trusted content and verified engagement. On the network, all user profiles are verified, which means every piece of content is traceable to its source, so users are accountable for their online engagement which boosts trust and credibility while reducing the risks of online harms. houses the best features of existing social networks all in one place, combining the best of each and empowering users to post, host and share their content from a trusted source. empowers users to showcase their personal or business brand using a Media Wall feature comprised of visual tiles and folders the user has control over to organize, categorize and manage their content in a highly visually impactful format. operates with a 'freemium' business model – free for individuals to join, set up a verified profile and post content through its Basic Plan. For businesses, organizations, associations and charities, offers affordable profile creation and publishing tools. By requiring identity verification, its all-in-one platform empowers users to create, host, and distribute content across text, video, audio, and more—safely and authentically. Headquartered in New York City, is currently in Beta and growing a global user base across 130+ countries. Find & Follow:Web | LinkedIn | Facebook | Instagram | X | YouTube | TikTok Press Contact:For media inquiries or to book a product demo, please contact Laura Hall at Lhall@ or via WhatsApp at +1 917 544 6344 (New York, New York).This press release was published by a CLEAR® Verified individual.
Yahoo
2 days ago
- Business
- Yahoo
New Social Network Media.com to Champion Online Consumer Protection as Australian Banking Association's Annual Conference Sponsor
SYDNEY, July 21, 2025 (GLOBE NEWSWIRE) -- the world's first and only social network built entirely on verified users and trusted content, is proud to announce its sponsorship of the Australian Banking Association's (ABA) Annual Banking Conference taking place July 23–24, 2025 at the International Convention and Exhibition Center (ICC) in Sydney. As an Event Sponsor of this important industry event, will play a visible role throughout the two-day program, where leaders from Australia's banking sector, regulators, policymakers, and technology innovators gather to address the future of banking in a rapidly evolving digital landscape. will host an interactive exhibition booth where attendees can experience live product demonstrations, learn about how protects consumers, and why is the trusted alternative for social networking. With an interest in fueling critical conversations and connections among attendees, the company is also hosting the conference coffee stand. According to the Australian government's 2024 National Anti-Scam Centre Report, 'the most reported contact method leading to financial loss was social media,' and more Australians lost money via social media in 2024 than the year prior. These social platforms - where fake identities, bots, and anonymity reign - have become the primary vehicle for scammers targeting consumers and banks alike. However, offers a credible, secure social networking experience where every user is verified before they can join the network, create content or connect with others. This simple, powerful safeguard drastically reduces the risk of scams, impersonation, and misinformation - protecting users all while stabilizing the financial ecosystem. 'Becoming a sponsor of the ABA's flagship event was a strategic priority for us given the challenges the banking industry is facing from the misuse of social networks to target consumers,' said James Mawhinney, founder and CEO. 'The ABA and its members have shown great leadership by prioritizing consumer protection, a mission that closely mirrors that of which aims to restore public trust in online information and support the banking sector's immediate need for solutions that protect consumers from harm. This is why we've integrated the same best in class user verification technology on our network that banks use worldwide to verify customers, as we know the solution begins with accountability and transparency – two of the principles embedded in DNA.' A Critical Call to Action By supporting the adoption of a verified network like banks can help shield consumers from the social media-driven scams eroding trust and impacting financial stability. Banks can: Create verified profiles on to provide a safer digital touchpoint for customers Promote to their customers as a safe and trusted alternative to traditional social networks Lead a movement toward digital accountability and trust in Australia's online banking landscape 'A stable, trusted banking environment is critical for the future of Australia,' said Mawhinney. 'We've built the infrastructure for safer online engagement—one that not only protects consumers, but also helps reduce fraud, improve trust, and ultimately protect their bottom line. This isn't about competing with social media—it's about replacing what's broken with something better.' This year's ABA conference focuses on the difficulties and opportunities ahead for financial services, including consumer protection, regulatory shifts, sustainable finance, risk management, and the sector's broader digital transformation. participation underscores its commitment to helping industries like banking embrace technologies that uphold user trust and safeguard information. Knowing how important consumer protection is, commitment to trust, transparency, and innovation aligns with the values that underpin Australia's banking sector. Launched in Beta in late 2024, is transforming social networking by verifying every user, ensuring all content is traceable to its source. This approach fosters a safer, more accountable digital space—free from fake profiles, bots, and misinformation—designed for people and businesses seeking meaningful, credible engagement online. With attendance from banking CEOs, regulators, and global thought leaders, the ABA conference offers a unique opportunity to demonstrate its impact, engage with decision-makers, and align with the collective vision for a stronger, more trusted digital future. About is a next-generation online social network designed for people who value trusted content and verified engagement. On the network, all user profiles are verified, which means every piece of content is traceable to its source, so users are accountable for their online engagement which boosts trust and credibility while reducing the risks of online harms. houses the best features of existing social networks all in one place, combining the best of each and empowering users to post, host and share their content from a trusted source. empowers users to showcase their personal or business brand using a Media Wall feature comprised of visual tiles and folders the user has control over to organize, categorize and manage their content in a highly visually impactful format. operates with a 'freemium' business model – free for individuals to join, set up a verified profile and post content through its Basic Plan. For businesses, organizations, associations and charities, offers affordable profile creation and publishing tools. By requiring identity verification, its all-in-one platform empowers users to create, host, and distribute content across text, video, audio, and more—safely and authentically. Headquartered in New York City, is currently in Beta and growing a global user base across 130+ countries. Find & Follow:Web | LinkedIn | Facebook | Instagram | X | YouTube | TikTok Press Contact:For media inquiries or to book a product demo, please contact Laura Hall at Lhall@ or via WhatsApp at +1 917 544 6344 (New York, New York).This press release was published by a CLEAR® Verified individual.
New York Times
6 days ago
- Business
- New York Times
Substack Raises $100 Million, Betting on Subscriptions but Coming Around to Ads
Substack began its life as a buzzy newsletter company, devoted to helping writers connect with paying subscribers. The start-up was critical of social media and dismissive of advertising. Nearly eight years later, Substack is pouring much of its effort into building a social network and warming up to the advertising business. To fuel those ambitions, Substack has raised $100 million in funding from investors, including the Chernin Group, which backs sports, media and fan-focused businesses; BOND, a technology investment firm; Klutch Sports Group, a sports agency; Andreessen Horowitz, the venture capital firm; and the fashion executive Jens Grede, a co-founder of the shapewear brand Skims. The funding round valued Substack at $1.1 billion, according to two people close to the deal. Substack's business model is simple: Users subscribe to follow creators on the platform, and the company takes a 10 percent cut of the revenue when those creators charge for a newsletter subscription or access to a podcast. That approach initially made Substack a writer's haven, resulting in more than five million paid subscriptions and a stable of publishers, including the short story master George Saunders, the historian Heather Cox Richardson and an exodus of journalists from traditional newsrooms. But the latest investors are betting on an emerging product that could amplify its business. Substack's app, introduced in 2022, allows users to chat with their favorite creators, watch live video conversations and write and share posts on their own feeds through Notes, a feature similar to X or Bluesky. The Substack app now has millions of users that draw in new creators and subscribers, said Chris Best, the chief executive of Substack, and Hamish McKenzie, its co-founder. They also said in an interview that Substack was planning to get deeper into the advertising business, which it previously criticized. Want all of The Times? Subscribe.
Bloomberg
15-07-2025
- Business
- Bloomberg
Nextdoor Revamps Its App, Aiming to Boost Engagement
Nextdoor CEO Nirav Tolia discusses the social network's redesign and new push focusing on local news and alerts. He joins Ed Ludlow on 'Bloomberg Tech.' (Source: Bloomberg)
