After its IPO, the platform is planning a slew of product features for the year ahead, and — spoiler alert — most of them are powered by AI.
“I think the IPO was an important milestone, but we’re just focused on building for our users,” Reddit Chief Product Officer Pali Baht told TechCrunch.
Reddit’s product roadmap includes faster loading times, more tools for moderators and developers, and an AI-powered language translation feature to bring Reddit to a more global audience.
According to Reddit’s IPO filing, in December 2023, 50% of Reddit’s daily active unique users were from non-U.S. countries.
The company will build on those updates with other new tools, like an LLM that’s trained on moderators’ past decisions and actions.
Paris-based startup Pigment has raised a $145 million funding round just five years after its inception.
This funding round comes as a bit of a surprise as large rounds have been few and far between in France.
Before Pigment, Crespo worked for VC firm Index Ventures and Google.
We’ve developed a lot of modules that enable us to serve HR teams, supply chain teams and sales teams,” Crespo said.
Like many software companies, Pigment has also added AI features.
French spinout Diamfab, founded in 2019, is one example.
They also raised an €8.7 million round of funding from Asterion Ventures, Bpifrance’s French Tech Seed fund, Kreaxi, Better Angle, Hello Tomorrow and Grenoble Alpes Métropole.
But diamond wafers could also be leveraged for nuclear batteries, space tech and quantum computing, too.
While there’s warranted hype around AI in Paris, Grenoble may be the closest to a French Silicon Valley.
Now Diamfab hopes it can play a part, too, and unleash the full potential of diamond in semiconductors.
Italy’s competition and consumer authority, the AGCM, has fined TikTok €10 million (almost $11M) following a probe into algorithmic safety concerns.
Moreover, this content is systematically re-proposed to users as a result of their algorithmic profiling, stimulating an ever-increasing use of the social network,” the AGCM wrote.
The authority said its investigation confirmed TikTok’s responsibility in disseminating content “likely to threaten the psycho-physical safety of users, especially if minor and vulnerable”, such as videos related to the “French scar” challenge.
One notable change as a result of the DSA is TikTok offering users non-profiling based feeds.
TikTok also faces the possibility of increasing regulation by Member State level agencies applying the bloc’s Audiovisual Media Services Directive.
Deep tech is on the rise in Europe, fueled in part by the match between AI and a local flavor of math excellence.
The deep tech fund will focus on computing, industry and life science.
The report, which was published this Wednesday, highlights 50 European deep tech companies, but more as an editorialized showcase than as a ranking.
While the firms may overlap in investments, they don’t fully see eye to eye on the “deep tech” term.
“For us, deep tech is a natural fit, as we’ve always been very close to research at Elaia,” she said.
This is particularly true in Europe in the context of GDPR: While many companies are hoping to build AI on top of voice data, in many cases, this requires removing biometric information first.
This is where Nijta hopes to help: by providing AI-powered speech anonymization technology to clients that need to comply with privacy requirements.
The startup also says that Nijta Voice Harbor’s protection is irreversible, unlike some of the voice modifications unwisely used by media outlets hoping to protect victims they interview.
A lack of awareness of privacy issues around voice is one of the challenges Nijta will have to face.
This is also why starting with B2B and Europe seems to make sense: Even if customers aren’t pushing for voice privacy, risking a hefty fine is turning companies into early adopters.
And it is using an undisclosed portion of its cash reserve to acquire Regate, an accounting and financial automation platform.
Qonto originally started with online business accounts with debit cards specifically tailored for small and medium businesses.
After a while, Regate will be integrated in Qonto directly to improve several accounting automation features of Qonto, such as invoicing, accounts payables, accounts receivables, etc.
Qonto finds itself in a different position from Payfit, another French unicorn (or former unicorn) that provides a software-as-a-service tool focused on payroll.
As many fintech startups are struggling to raise a new funding round, Qonto could become a consolidator in the space.
Allianz Direct, a digital-first German subsidiary of the insurance giant, has acquired the French home insurance business of ailing insurtech Luko for €4.3 million (around $4.65 million).
This was both expected and unexpected: The two companies were hoping to get the green light on a deal in November.
After all, Luko ambitioned to become a European insurtech unicorn on its own, and maybe it’s now paying the price for it.
But there’s also relief for some in knowing that the company won’t be sold for parts after all — and the business unit that will live on is arguably what it should have stuck to all along.
Along the way, things became more complicated and debt mounted as it expanded in other markets and made acquisitions: German startup Coya and fellow French startup Unkle, both in 2022.
French small launch developer Latitude has closed $30 million in new capital as it eyes the first flight of its Zephyr rocket in 2025.
While other rocket companies are going bigger, developing even more massive rockets, Latitude is taking a different approach: light, small, and hopefully cheap enough to beat out competitors.
Its first rocket, Zephyr, will stand at just 62 feet and will be capable of delivering up to 100 kilograms of payload to low Earth orbit.
The two-stage rocket will be powered by eight 3D-printed engines called Navier, which Latitude is developing in-house.
In a statement, Latitude CEO and cofounder Stanislas Maximin said 2024 would be a “pivotal year” before Zephyr’s first flight in 2025.
France’s data privacy watchdog, the CNIL, has fined Amazon’s logistics subsidiary in France €32 million, or $35 million at today’s exchange rate.
Again, it’s worth pointing out that the CNIL is listing some data processing wrongdoings.
This isn’t a labor case, it’s a data processing case about illegitimate and excessive monitoring of the warehouse workers.
“As implemented, the processing is considered to be excessively intrusive.”According to the French regulator, Amazon uses this performance data to assess the overall performance of its warehouse workers on a weekly basis.
The company’s first argument is that Amazon isn’t the only company in the logistics industry using a connected warehouse management system.
