Facebook willing to open algorithms to regulators; Sky Mavis announces US $ 152 million funding round


In today’s ExchangeWire news summary: Facebook Announces It Would Be Happy To Open Its Algorithms To Regulators; Sky Mavis Raises US $ 152 Million (£ 111.6 Million) in Series B Funding; and Homa Games raises US $ 50million (£ 36.7million) in Series A investment round.

Facebook wants to open algorithms to regulators

Facebook responded to Frances Haugen’s welfare concerns, announcing that they are happy that regulators are overseeing their algorithms in the future. The a former Facebook employee called for a transparent approach of the social media entity to stop the spread of disinformation, which the platform would be willing to accept. Nick Clegg, Facebook’s vice president of global affairs and communications, appeared on three U.S. news shows in the past week, including CNN’s State of the Union. During this public appearance, Clegg denied allegations of mental health ignorance made by whistleblower Frances Haugen, stating that “for the overwhelming majority of teens …[Instagram] is a positive experience. Facebook also suggested that they were open to changing a provision in the Telecommunications Act of 1996, exposing them to greater responsibility for user posts.

Responding to Haugen’s call for a change, Clegg said the tech giant hoped to enforce new controls so adults can supervise children online, entice users to check out other content as needed, and put in implement a pause notification, similar to the rival platform. TIC Tac. In a new attempt to defend Facebook, Clegg claimed that profit is not a priority over other factors such as mental health, referring to the $ 13 billion (£ 9.5 billion) investments that the company has made to improve its services in recent years. “We can change our product, and that’s exactly what we’re doing of course. Other changes made by the platform relate to the two outages Facebook experienced in the past week. Therefore, they announced that they were testing a failure notification to confirm users’ suspicions. In a blog post, the company said, “We want to make it easier to understand what’s going on, directly from us. “

In other Facebook news, another former Facebook employee, Sophie Zhang, is ready to testify before Congress about her former employer after passing on important information, according to reports. Zhang tweeted on Sunday, “I have provided detailed documentation regarding potential violations to a US law enforcement agency. She adds in a subsequent tweet, “If Congress wishes me to testify, I will fulfill my civic duty, as I have stated publicly for the past six months.”

As Facebook rejects these claims, they subtly acquired AI Reverie, a startup creating synthetic data. After being contacted for comment, a Facebook spokesperson confirmed the acquisition. The news has yet to be officially announced.

Sky Mavis announces $ 152million (£ 111.6million) funding round

sky mavisSky Mavis announces it has raised US $ 152 million (£ 111.6 million) in a Series B funding round led by Andreessen Horowitz and Mark Cuban. The capital values ​​the video game developer at nearly US $ 3 billion (£ 2.2 billion). The funding round is supposed to help develop its Axie Infinity Play-to-Earn game, a non-fungible token (NFT) -based internet video game. The news comes as Sky Mavis recently announced that its players have generated US $ 2.05 billion (£ 1.5 billion) in sales for the NFT-based game. In a blog post announcing the investment, the company commented, “We have always believed that NFTs would enable a new kind of game that creates economic freedom for its players.”

In the financing news, Magic Leap, the augmented reality platform, raised $ 500 million (£ 367 million) for the release of a new AR headset, the Magic Leap 2. In a press release, the American start-up states that “a new investment will allow Magic Leap to focus on providing powerful augmented reality solutions and first order for the company ”. They would be valued at US $ 2 billion (£ 1.5 billion) after the funding and have decided to keep investors silent.

Homa Games raises US $ 50million (£ 36.7million) in Series A investment

homa gamesMobile entertainment business, Homa Games raised $ 50 million (£ 36.7million) in a Series A funding round led by Northzone. Earlier this year, the French mobile gaming platform raised US $ 15 million. As a result, since its inception in 2014, it has raised US $ 65million (£ 47.7million) in total. Singular, King, the founders of FuboTV and Daniel Ek’s family office also participated in the round table. This venture capital comes just seven months after having lifted their round table, led by Headline and Eurazeo.

Homa Games releases two to three games per month and now has over 40 apps and games in its portfolio, including NERF Epic Pranks !, Sky Roller, and Idle World. They have developed their own technological infrastructure, allowing them to optimize the development and performance of each game.

According to reports, Homa Games plans to implement its technology vision by hiring 100 people and making strategic acquisitions.

In the first news of the French game, the start-up Voodoo has acquired Beach Bum, an Israel-based games studio. Voodoo co-founder and CEO Alexandre Yazdi commented on the acquisition: “Beach Bum and Voodoo share the same business philosophy and the same unlimited ambition to create a leading and inspiring mobile game company in the world. Being together is a big step in this direction.

Also in the news:

– Biites, a global branded content platform, secures funding from FirstPartyCapital to fuel its international expansion

– ID5 appoints Jessica Werner as Senior Director of Publisher Development and Rafael Marti as Legal Director

– TheViewPoint launched its CTV-First ad serving solution: TVP Next


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