Business Insider UK - 9 hours ago UK government has today launched a new digital counter-cyber crime unit which will tackle the proliferation of fake news and other "malicious" content.The Home Office announced the creation of a new unit in partnership with technology company Digby.The unit will be created in response to the increasing use of social media and "malignant content" to spread misinfor...
By BOB HAWKINSAssociated PressWASHINGTON (AP) Twitter Inc., a technology company that provides services such as instant messaging and photo-sharing, will pay about $1.1 billion for its advertising holdings, including digital assets, according to people familiar with the matter.
The announcement on Thursday came after Twitter, a popular platform for sharing jokes and news, raised $26 billion in a funding round in January that valued the company at about $15 billion.
It was the biggest round of financing for any of the tech companies, and it followed a series of acquisitions that also included Facebook Inc. and Snapchat Inc.
In its announcement, Twitter said it would also pay a $1 million annual fee to the advertising network that includes Twitter’s main social network, Twitter.
The payment will cover a portion of the $1,000 a month it would pay to use its advertising network, the people said.
Twitter did not disclose the amount of the payment.
Twitter has been under pressure from some advertisers who have said they will not sell advertising space to the platform because of a lack of content, as well as from lawmakers who have questioned the use of its advertising revenue for political causes.
Twitter is the most popular social media platform in the U.S. and has more than 35 million users, according the company.
The $1B in cash is expected to be split among Twitter’s $1-billion advertising division, the company said, and the $500 million fund that invests in other companies that it buys.
Twitter said that about $300 million of the cash will be invested in a new product and $250 million in existing products.
The company has also been working with Google Inc. on a new advertising platform, it said.
The new platform will provide advertisers with more flexibility in their ad targeting.