Snap said revenue rose 17% in the second quarter despite ad budgets contracting due to the global pandemic. But the maker of Snapchat narrowly missed its own user growth forecast and reported a larger net loss. Revenue increased to $454 million in the quarter, beating the consensus estimate of $438 million from Wall Street analysts. Snap added 9 million new daily users during the period, shy of...
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Chatbot Startup Character Seeks $250 Million, Testing Investor Appetite for AI
Character, an AI chatbot startup founded by two former Google researchers, has told investors it wants to raise as much as $250 million in new funding, according to two people with direct knowledge of the matter. The pitch will test investors’ appetite for machine-learning startups as Microsoft’s multibillion-dollar deal with OpenAI casts a halo over the sector. A funding round of...
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