app economy

Venmo Launches Major App Redesign Amidst Potential PayPal Spin-Off and Acquisition Speculation

May 11, 2026

1 source

TechCrunch Apps

Venmo Launches Major App Redesign Amidst Potential PayPal Spin-Off and Acquisition Speculation

Story Summary

Venmo is rolling out its most significant redesign since 2021, featuring a personalized social feed, enhanced local business endorsements, and streamlined navigation tabs. The update arrives as parent company PayPal restructures to spin off Venmo as a standalone unit, a strategic move widely interpreted as preparation for a potential sale, with Stripe reportedly expressing interest in acquiring PayPal.

TikTok will introduce a £3.99 monthly ad-free subscription in the UK for users over 18, effectively removing advertisements and restricting data usage for tracking. This "pay or consent" model, similar to Meta’s strategy, serves as a compliance mechanism for UK privacy regulations. By offering an opt-in alternative to personalized ads, TikTok aims to navigate stringent data harvesting laws while maintaining.

The Verge·May 11, 2026

app economy

Discord Launches Nitro Rewards Program to Boost Subscriber Retention

Discord has introduced Nitro Rewards, a new perk program for Nitro Basic and Nitro subscribers that includes access to the base tier of Xbox Game Pass and hardware discounts from brands like Logitech G and SteelSeries. By adding external value to its subscription tiers, Discord aims to strengthen user retention and grow its primary revenue stream while maintaining its free-to-use.

TechCrunch Apps·May 11, 2026

insurance

GM Settles California Privacy Probe for $12.75 Million Over Unauthorized Driver Data Sales

General Motors has agreed to a $12.75 million settlement to resolve California’s investigation into the unauthorized sale of OnStar subscriber data to third-party brokers. The agreement mandates a five-year ban on such data sales and restricts GM’s use of driver behavior metrics. This resolution underscores the mounting regulatory scrutiny facing automakers regarding the monetization of granular, connected-vehicle location and performance.

Insurance Journal·May 11, 2026

insurance

Oil Prices Surge as President Trump Rejects Iran’s Proposal to Reopen Strait of Hormuz

President Donald Trump’s rejection of Iran’s peace proposal on Monday triggered a $4-per-barrel spike in oil prices, exacerbating global energy supply concerns. The 10-week conflict continues to paralyze the Strait of Hormuz, which previously handled one-fifth of global oil and gas. With shipping at a standstill, the ongoing deadlock poses significant risks to international trade and domestic U.S. gasoline prices.