Whatnot Raises $265M, Valuing Livestream Shopping App at Nearly $5B

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Top story: Whatnot, a livestream shopping platform focused on collectibles and niche items, has secured $265 million in Series E funding, bringing its valuation to $4.97 billion.

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This Morning’s Highlights:

1. 💸 Whatnot Secures $265M in Series E Funding

2. 📄 How to Generate Automated Reports with MyReport?

3. ⚖️ Microsoft Sues Group for Exploiting AI Service

4. 🔥 Best AI Tools for Productivity

5. 🚀 OpenAI Job Listings Reveal Ambitious Robotics Plans

🕒 Estimated Reading Time: 5 minutes

Whatnot Secures $265M in Series E Funding

Whatnot Raises $265M, Valuing Livestream Shopping App at Nearly $5B

What's happening?

Whatnot, the popular livestream shopping platform, has announced a significant $265 million Series E funding round, bringing its valuation to a staggering $4.97 billion. This investment marks a major milestone for the company as it continues to reshape the e-commerce landscape with its innovative approach to online shopping.

🔍 Essential Details:

• Explosive Growth: Whatnot's annual gross merchandise value (GMV) surpassed $3 billion in 2024, more than doubling from 2023. This rapid growth demonstrates the platform's increasing popularity and the rising adoption of livestream shopping in Western markets.

• Seller Success Stories: Over two-thirds of sellers on Whatnot now earn more than $10,000 monthly, with one in three employing more than six staff members. This success rate underscores the platform's ability to empower small businesses and create new entrepreneurial opportunities.

• Expansion Plans: Whatnot is set to launch in Australia next month, with plans for further European expansion later in the year. The company already operates in the U.S., UK, Canada, France, Germany, Austria, The Netherlands, and Belgium, indicating an aggressive global growth strategy.

• Diverse Product Categories: Initially centered on collectibles like trading cards, Whatnot has expanded to include accessories, clothing, electronics, and even live plants. This diversification allows the platform to cater to a wide range of interests and potentially disrupt various retail sectors.

• Innovative Features: Whatnot has introduced "sudden death" auctions and flash sales to create urgency and boost engagement during livestreams. These features enhance the interactive and exciting nature of the shopping experience.

🧐 Why It Matters:

Whatnot's success signals a shift in e-commerce trends, particularly in the collectibles and niche markets. The platform's rapid growth and high valuation indicate strong investor confidence in the future of livestream shopping, potentially reshaping how consumers discover and purchase products online. As traditional retail continues to evolve, Whatnot's model could become a significant disruptor in the e-commerce landscape.

How to Generate Professional Reports with MyReport?

Creating Automated Reports with MyReport

Step-by-Step Tutorial:

MyReport simplifies report generation by using advanced AI and automation. Here's how you can create detailed and professional reports in minutes:

Step 1: Get Started

1. Visit MyReport: Navigate to MyReport.

2. Sign Up:

   • Create an account to access the platform.

   • Choose between the free or professional plan, depending on your requirements.

Step 2: Define Your Report

1. Enter a Title:

   • Provide a title that summarizes your report’s subject.

2. Describe Your Dream Report:

   • Add a short description or free text detailing the purpose and content you want in the report.

Step 3: Let MyReport Work for You

1. Web Navigation:

   • MyReport will automatically search the internet, gathering relevant and valid data for your report.

2. Data Analysis (Professional Users):

   • Share a folder in the cloud containing documents or data to include in your report.

   • MyReport ensures complete privacy and analyzes the data for tailored content.

Step 4: Generate Your Report

1. AI-Driven Compilation:

   • MyReport creates a detailed report with professional formatting, including:

     • Images

     • Graphs

     • Tables

     • Citations

     • Quotes

     • References

2. Fast Processing:

   • The report will be ready within minutes. Enjoy a break while the tool works for you.

Step 5: Review and Customize

1. Instant Link Sharing:

   • Receive a shareable link to distribute the report with your team or save it locally for further review.

2. Final Tuning:

   • Edit or fine-tune the report’s content to align it perfectly with your objectives.

Step 6: Boost Collaboration

1. Quick-Start Drafts:

   • Use MyReport for brainstorming sessions by generating a starting draft for new ideas or challenges.

2. Shared Insights:

   • Share the generated reports to get instant feedback and foster collaboration.

Step 7: Save Time and Focus on What Matters

1. No Manual Research:

   • Let MyReport handle data gathering and initial analysis.

2. Enhanced Productivity:

   • Spend more time refining ideas and making decisions rather than collecting data.

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Microsoft Sues Group for Exploiting AI Service

Microsoft Files Lawsuit Against Group Exploiting AI Service

Overview:

Microsoft has filed a lawsuit against a group of unnamed defendants, accusing them of developing tools to bypass safety measures in its Azure OpenAI Service. This legal action highlights the ongoing challenges in securing AI technologies against malicious use.

🔍 Key Details:

• Sophisticated Hacking Scheme: The defendants allegedly used stolen customer credentials and custom software to breach Azure OpenAI Service and generate content violating usage policies. This "hacking-as-a-service" scheme involved creating a tool called "de3u" to leverage stolen API keys.

• Safety Measure Circumvention: The de3u tool reportedly attempted to bypass content filtering systems, potentially allowing for the creation of harmful or offensive content. It also stripped metadata used to identify AI-generated content, further complicating detection efforts.

• Legal Violations: Microsoft accuses the defendants of violating multiple laws, including the Computer Fraud and Abuse Act, the Digital Millennium Copyright Act, and federal racketeering laws. This underscores the serious nature of the alleged offenses.

• Proactive Measures: In response, Microsoft has implemented new countermeasures and additional safety mitigations for the Azure OpenAI Service. The company has also been granted court authorization to seize a website critical to the defendants' operations.

• Industry-Wide Implications: This case highlights the need for robust protection measures and legal frameworks to prevent the misuse of powerful AI tools. It also demonstrates the ongoing cat-and-mouse game between AI developers and those seeking to exploit these technologies.

🤓 Why It's Important: 

This case underscores the ongoing security challenges faced by AI service providers. It highlights the need for robust protection measures and legal frameworks to prevent the misuse of powerful AI tools, ensuring that the benefits of AI can be realized without compromising safety and ethical standards. The outcome of this lawsuit could set important precedents for how AI companies protect their technologies and how the legal system addresses AI-related cybercrime.

Trending AI tools

1. Waxwing

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4. AppFlowy

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5. Xspiral

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OpenAI Job Listings Reveal Ambitious Robotics Plans

• Diverse Robotics Team: OpenAI is seeking to build a team capable of developing "general-purpose," "adaptive," and "versatile" robots that can operate with human-like intelligence in real-world settings.

• Custom Hardware Development: The company plans to create new sensors and computational elements specifically for its robotics projects, integrating cutting-edge hardware with its AI models.

• Potential Humanoid Robot: Some reports suggest OpenAI might be exploring the development of a humanoid robot, though details remain speculative.

• Full-Scale Production Goals: Job listings indicate OpenAI's ambition to reach "full-scale production" of its robotic systems, with one listing seeking experience in designing for high volume (1M+ units).

• Integration with AI Models: OpenAI aims to seamlessly blend its advanced AI capabilities with physical robotic platforms, pushing towards AGI-level intelligence in dynamic, real-world settings.

Stay tuned for more AI insights, productivity tips, and practical strategies to level up your skills!

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