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Fintech company Pagaya set for $8.5bn SPAC merger

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Fintech company
Pagaya is to go public via a SPAC merger worth an expected $8.5bn. The Israeli-U.S. fintech manages assets for different financial services organisations, such as banks and insurance companies. It uses artificial intelligence to improve financial processes. Pagaya will merge with the special-purpose acquisition company EJF Acquisition Corp. It was co-founded by former UBS executive Gal Krubiner.
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Sources:On Monday, Facebook will reveal a range of music products, such as a Clubhouse-like app, a podcast discovery service integrated with Spotify, and more. (Vox, Peter Kafka)

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Sources:On Monday, Facebook will reveal a range of music products, such as a Clubhouse-like app, a podcast discovery service integrated with Spotify, and more. (Vox, Peter Kafka)

Peter Kafka / Vox:

Several audio products, including a Clubhouse-like app, a podcast finding service integrated with Spotify, and more, will be unveiled by Facebook on Monday, according to sources. On Monday, there will be announcements, although some things won’t be available for some time. — Facebook wants you to start communicating with others on the site.

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ByteDance’s founder Zhang Yiming steps down as Executive Chairman

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Zhang Yiming
The founder of TikTok’s parent company ByteDance founder Zhang Yiming has stepped down as chairman after announcing last May he was resigning as CEO and moving into a strategy role. New CEO Liang Rubo has taken over as chairman of the company’s board. The news comes shortly after the company announced a major organisational reshuffle at ByteDance to create six separate business units.
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Uber and Lyft will share data on banned drivers to protect passengers

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Uber
Rival companies Uber and Lyft have announced their plans to share with each other the names of drivers that have been banned from their platform, in an effort to increase passenger’s safety. The two apps have been criticised in the past for their handling of sexual assault and other safety concerns. Uber has revealed that in 2018 there were 3,045 sexual assaults and nine murders in its cars.
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