Communication Platform Slack Experiences Widespread Outage 🚨

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Communication Platform Slack Experiences Widespread Outage 🚨

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Workplace messaging and communication platform Slack suffered a major global outage on February 22, making it difficult for users to send and receive messages as well as access the platform altogether.

Many users who faced the issue took to social media to voice their complaints saying that they were unable to view threads and the work-related chatrooms took long load times.

Slack’s Twitter account also acknowledged the issue saying, “Some customer may be experiencing issues with loading Slack. We’ll provide a status update once we have more information. We’re sorry for the disruption.”

The disruption was also reported by more than 10,000 users, according to Downdetector, a platform that tracks outages by collating status reports from a series of sources, including user-submitted errors on its platform.

The issue was resolved within a few hours, and Slack confirmed the same saying, “We’ve resolved the issue, and all impacted customers should now be able to access Slack. You may need to reload Slack (Cmd/Ctrl + Shift + R) to see the fix on your end. Apologies for the disruption!”

Tether Cuts Its Commercial Paper Holdings by 21% ⬇️

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According to the attestation report of USDT stablecoin issuer Tether, the firm has reduced its commercial paper holdings by $6.2 billion between September and December 2021.

Tether, which is the largest stablecoin issuer by total supply, has reduced its assets held in commercial papers from $30.5 billion in September 2021 to $24.2 billion in December 2021. The firm also reduced its cash assets from $7.2 billion to $4.2 billion.

Commercial papers are often referred to as unsecured debt as they are usually not backed by any form of collateral and are generally issued by large companies for financing payroll and short term-liabilities.

The attestation of Tether says that $13.93 billion worth of its commercial paper has a maturation window of 0-90 days, $9.94 billion has 91-180 days, and $823 million has between 181 and 365 days.

The latest attestation of Tether, which provides a breakdown of Tether’s reserves as of 31 December 2021, was done by Cayman Islands-based Accountants MHA Cayman.

Tether, as part of its settlement with the New York Attorney General in February 2021, is required to publish quarterly attestations of its assets and liabilities to be more transparent in the industry.

Meta Launches Reels on Facebook Globally 🌏

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Meta is expanding the availability of Facebook Reels for Android and iOS users to more than 150 countries across the world, the company announced.

In its announcement, Facebook said, “Today, we’re expanding the availability of Facebook Reels for iOS and Android to more than 150 countries across the globe. We’re also introducing better ways to help creators to earn money, new creation tools and more places to watch and create Facebook Reels.”

With this latest update, creators will also be able to share their Instagram Reels as recommended content on Facebook.

It is also introducing various ways to help creators earn money from Facebook Reels, by testing overlay ads like sticker and banner ads.

The social media giant also said that it would roll out updates for users to make and see Facebook Reels in new places, such as in its Stories feature, its Watch tab, and at the top of the news feed.

With all these features and more, Meta is looking to take on its rivals like TikTok and be successful in the social media world.

E-Commerce Tech Platform Alloy Automation Raises $20 Million 💰

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Alloy Automation, a no-code e-commerce automation platform, has raised $20 million in its Series A funding round.

The funding was led by Andreessen Horowitz (a16z) and also included participation from FirstMark Capital and Hawke Ventures.

Additionally, the executives of Casper, Hims, and Glossier; and the founders of e-commerce software companies ReCharge, Attentive, among others, also participated in the investment round.

Founded in 2019 by Sara Du and Gregg Mojica, Alloy Automation is a no-code e-commerce automation tool used by leading companies to automate tiresome tasks across marketing, fulfilments, among other operations.

The startup supports integration with more than 150 apps like Shopify, Magento, Squarespace, BigCommerce, Commerce Cloud, and more.

Besides customized workflows, the company also enables users to start from a library of more than 100 prebuilt recipes that top users of the platform have created.

Alloy Automation plans to use the fresh proceeds to double its workforce this year and build deeper partnerships with renowned brands and key players in the e-commerce ecosystem.

Around the Web 🌐

Puma Registers Its Own ENS Domain: Sporting goods manufacturer Puma is the latest company to register its own decentralized URL using the Ethereum Name Service (ENS). The company has revealed its nonfungible token (NFT) by changing its Twitter handle to Puma.eth.

Staffing Marketplace Provider Zenjob Raises $50 Million: Zenjob, a German-based marketplace platform that targets students and others looking for side jobs, has raised $50 million in its Series D funding round. The funding was led by Aragon and also saw participation from Acton Capital, Atlantic Labs, Forestay, and Axa Venture Partners.


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