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Stealth startup Favs raises ~$1M for its close-friends-only social network

TechCrunch

Over the years, social media has moved further and further away from its original value proposition of being a network where you could keep up with close friends and family in a private space. Instead, today’s apps are entertainment giants, filled with creator content, multimedia and brand advertisements.

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Primitives wants to turn your crypto wallet into a social network

TechCrunch

DJ Gabeau, one of Snapchat Stories’ earliest engineers and founder of web3 social network Primitives , told TechCrunch that he thinks NFTs can be a genuinely enjoyable way for people to connect with one another digitally and make memories. Users don’t have to go through multiple steps to claim the assets, he added.

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Is the advertising market in trouble?

TechCrunch

Snap, the parent company of the popular Snapchat social media service, reported earnings last week that investors rejected. Snap was not the only victim of its lackluster earnings digest — other companies that make money off of advertising incomes saw their share prices dip on concerns that the social network was not an outlier.

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MyPlace raises $5.8M to scale its private home-sharing social network

TechCrunch

New York-based MyPlace , a social network designed to help friends share their private homes, has raised $5.8 Since then, the platform has grown into a social network used by thousands of people in 86 countries. MyPlace hasn’t done any paid advertising and is growing based on word of mouth among friends, Bell says.

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Unleashing Stability AI’s most advanced text-to-image models for media, marketing and advertising: Revolutionizing creative workflows

AWS Machine Learning - AI

To stay competitive, media, advertising, and entertainment enterprises need to stay abreast of recent dramatic technological developments. Ideation and iteration Advertising agencies and marketing teams can leverage these models to generate visually stunning and attention-grabbing assets for their campaigns. Stable Image Ultra 1.0

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Social app IRL makes its first acquisition with deal for digital nutrition company AaBeZe Labs

TechCrunch

IRL, the SoftBank-backed social app and recent unicorn , is today announcing its first acquisition. The company is purchasing, for an undisclosed sum, the “digital nutrition” company AaBeZe Labs and its portfolio of IP with the goal of making IRL a healthier and more ethically designed social networking app.

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Makers Fund-backed virtual social app MEW woos comic fans in the US

TechCrunch

Raven Gao didn’t set up virtual social platform MEW to ride the metaverse wave. He began working on MEW in mid-2019 with a Tencent veteran because he wanted to build a virtual safe haven for socially awkward introverts like himself. MEW’s interface can be perplexing for many people at first glance.

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