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Snap Introduces Accelerator Program to Support Black Creators 🥳🎉🎊
Instant messaging app Snapchat has announced the launch of its first accelerator program for emerging Black creators.
The program is part of ‘Snap’s 523 initiative’, which provides support for small content companies and creators from underrepresented groups.
“Black creators face unique systemic barriers across the creator industry — from disparities in compensation and attribution, to toxic experiences and more. We believe one of the ways we can help remove some of those barriers is to provide mentorship and financial resources to emerging Black creators in the early stages of their professional career,” the company wrote in a press release.
The company has collaborated with Google Pixel, UNCMMN, and Westbrook Media to support creators with devices, industry mentors, financial backing, and more.
Snap will select creators based on their unique voices, alignment with Snap’s values, and vision for their career.
Over the course of a year, Snap will pay 25 selected creators $10,000 a month ($120,000 total) to help support their careers, marking a $3 million total investment.
Netflix Lays Off Three Hundred Employees in Second Round of Job Cuts ✂️
Video streaming platform Netflix has laid off 300 employees (about 3% of its workforce), in the second round of job cuts that are aimed at lowering costs after the company lost subscribers in Q1 for the first time in more than 10 years.
This is the company’s second layoff spree in two months after laying off 150 staffers in the last month.
“Today, we sadly let go of around 300 employees,” Netflix said in a statement. “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth. We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition,” the company added.
The streaming giant noted that while most of the laid-off employees were based out of the United States, there have been job cuts in the Asia Pacific, Latin America & Europe, the Middle East & Africa (EMEA) regions as well.
Binance Joins Hands 🤝 With Cristiano Ronaldo For NFT Push
Cryptocurrency exchange Binance has signed a multi-year partnership with football superstar Cristiano Ronaldo for the promotion of non-fungible tokens (NFTs).
As part of the partnership, Ronaldo and Binance will create a series of NFT collections for sale on the company’s platform, which is aimed at introducing soccer fans to the Web3 ecosystem through global NFT campaigns.
“Binance is announcing an exclusive, multi-year NFT partnership with Portuguese footballing legend Cristiano Ronaldo. Through this partnership, Binance will launch a global promotion aiming to give Ronaldo’s fans an introduction to Web3 with a compelling entry point into the world of NFTs,” said the company in a post.
Commenting on the partnership with Binance, Ronaldo said, “Proud to be partnering with Binance. Together we’ll give you the opportunity to own an iconic piece of sports history. I’m excited to take this journey with all of you. Let’s change the NFT game with Binance.”
The first NFT collection featuring designs made in collaboration with Ronaldo will be launched later this year.
Cybersecurity Startup Jit Secures $38.5 Million in Seed Funding 💰
Jit, an Israel-based provider of a platform simplifying product security for developers, has nabbed $38.5 million in its Seed funding round.
The funding was led by Boldstart Ventures along with participation from Insight Partners, Tiger Global Management, and strategic angel investors.
Jit was co-founded in 2021 by David Melamed, Aviram Shmueli, Gil Zimmermann, Ron Zalkind, and Tsahy Shapsa.
The platform allows development organizations to adopt the minimal viable security (MVS) mindset and progress iteratively in a just-in-time manner.
The startup focuses on building a super simple and extremely concise experience that makes owning security easy.
It helps align security and development principles, so developers can fully own the security of their product without slowing down the development process.
Along with the funding round, Jit also announced the launch of a free beta version of its platform, which can be used to convert security plans from static documents and spreadsheets into living and continuously running code in repositories.
Jit plans to use the fresh capital to speed up product development and expand its integration and support for open source security controls.
Around the Web 🌐
BMW Opens $2.2 Billion EV Plant in China: BMW has officially started its electric vehicle (EV) manufacturing factory in China with an investment of 15 billion yuan ($2.24 billion) as the automaker looks to accelerate EV production. The Lydia plant, which is the company’s third car assembly facility in China, will increase BMW`s annual output in the world’s biggest auto market to 830,000 vehicles from 700,000 in 2021.
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