PATREON CUTS 20% OF WORKFORCE
■ AI-SUMMARIZED FROM 1 SOURCE ▸ TIMELINE
Patreon has laid off 20% of its staff, according to a memo from company leadership. The creator platform cited market changes and the need to adjust its cost structure.
■ MORE FROM THE BUSINESS DESK
Zscaler CEO Jay Chaudhry said artificial intelligence is creating increased demand for cybersecurity solutions rather than diminishing it. Executives worry that AI adoption could expose new vulnerabilities and increase breach risks.
Betaworks holds a 5.5% stake in Hugging Face valued at approximately $650 million following the AI startup's $11.9 billion valuation. The venture firm's early bet could yield even larger returns, with A.Capital potentially banking $1.5 billion on the transaction.
The United States and United Kingdom have signed a memorandum of understanding to investigate and share intelligence on organized crime networks operating online scam centers, primarily located in Southeast Asia.
India's Slice, a fintech-turned-small finance bank, raised $100M at a $450M valuation, marking a 68% decline from its previous $1.4B valuation.