Investments, Latvia, Legislation, Mergers and take-overs, Technology, USA
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Friday, 19.04.2024, 00:59
U.S. investors purchase Latvian social communication network Ask.fm
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The site, where members answer questions posed by others, has been linked to teenage suicides in the UK and elsewhere and has been criticized for not doing enough to prevent cyberbullying, the BBC points out.
IAC, the U.S. company behind the deal, said it would invest "millions" into improving safety on the site.
Ask.fm's founders will leave the firm.
The company was started in 2010 by two Latvian brothers, Ilja and Mark Terebin. It now boasts 180 million monthly users – almost two-thirds the size of rivals ''Twitter'' – with roughly 700 posts made each second.
The site, which is very popular among young adults, came under fire last summer following the suicide of 14-year-old Hannah Smith, when it was claimed that abusive comments seen on Ask.fm had contributed to her death, the BBC writes.
Similar stories soon surfaced, and the Riga-based firm was heavily criticized for not adequately policing its site. It has also been denounced for hosting pages belonging to Islamic extremists fighting in Syria and Iraq, who had used Ask.fm as a recruiting tool, the BBC goes on to say.
«The Baltic Course» Is Sold and Stays in Business!
