Good morning! Here is the tech news you need to know this Wednesday.
1. The billionaire cofounder of WhatsApp, which Facebook acquired for $19 billion (£13.5 billion), tweeted that it’s time to ‘deletefacebook.’ Brian Acton was jumping on the #deletefacebook trend on Twitter following the Cambridge Analytica scandal.
2. Facebook held an internal briefing for employees on Tuesday about the Cambridge Analytica scandal but its two top executives, CEO Mark Zuckerberg and COO Sheryl Sandberg, didn’t turn up. Zuckerberg and Sandberg have been noticeably silent since news of Cambridge Analytica’s alleged misuse of Facebook’s data broke on Sunday.
3. A Facebook shareholder is suing the company for allegedly misleading investors by not telling them about the Cambridge Analytica scandal. Fan Yuan’s suit claims that since Facebook knew about the problem for two years, it should have told investors.
4. Former Uber CEO Travis Kalanick has a new job as chief executive of a real estate company startup called City Storage Systems. CSS plans to buy distressed real estate then refurbish them for digital systems.
5. Spotify CEO Daniel Ek will be able to sell shares worth up to $2 billion in the music firm’s upcoming IPO. He will retain 37% voting power at Spotify, no matter how many shares he might sell.
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6. Eight Roads Ventures, an early investor in Alibaba, has raised $375 million (£267 million) to try and help build $10 billion tech giants in Europe. The company wants to help fill Europe’s late-stage funding gap.
7. Facebook’s Cambridge Analytica scandal stems from the way the company opened up its platform a decade ago. One developer told Business Insider he built an app as a ‘thought experiment’ to test how much data people would give.
8. Amazon is now the second most valuable company in the world, ahead of Google, Facebook, and Microsoft, but behind Apple. Amazon shares finished up 2.69% at $1,586.51 (£1,130.72) on Tuesday.
9. The chief executive of robotics company Ripcord, Alex Fielding, is stepping aside after a 19-year-old former employee claimed she was fired after complaining of a toxic work environment. However, Fielding will stay on as chief product officer, and on the company’s board.
10. Google will spend $300 million (£213 million) to help its frenemies, news publishers, to grow subscriptions. Subscribe with Google is a new tool that helps publishers find, retain, and charge subscribers, according to Bloomberg.