In an unprecedented move, the US Federal Trade Commission (FTC) and Los Angeles District Attorney’s Office charged NGL (“not gonna lie”), a popular social media app downloaded millions of times, with cyber bullying and threatening teens and children. The company will be required to pay $5 million as part of a settlement that claimed its employees hooked kids into paying for services and preyed on them by tricking them into believing false messages of threats or solicitations produced by the company were sent by real users.
The CDP industry showed growth over the past year with a dozen vendors appearing in the new CDP Industry Update Report from the CDP Institute. Most of these were previously marketing or messaging applications that added CDP capabilities after they were built. Industry revenue was estimated at $2.4 billion in 2024, up from $2.3 in 2023.
The economy may be sputtering (or not), but funds are flowing more freely for martech and adtech acquisitions. Video platform Vimeo has just agreed to be acquired for $1.38 billion in cash. The buyer is Bending Spoons, a Milan-based mobile app developer.