Teen banking app Step reaches for the stars to raise $50 million

LONDON (Reuters) – Teen banking app Step has raised $50 million (37.4 million pounds) from investors led by Coatue Management alongside celebrities such as singer Justin Timberlake, influencer Charli D’Amelio and former quarterback Eli Manning.

Step, which offers teenagers a bank account connected to a secured spending card and peer-to-peer payments, also said it had secured funding from existing backers including Stripe, Will Smith’s Dreamers VC, CrossLink Capital and Collaborative Fund.

San Francisco-based Step allows parents to view balances and real-time activity, add money to their teens’ accounts and manage and freeze cards. It does not charge fees but makes money from card interchange.

Other stars involved in the fundraising included The Chainsmokers, Kelvin Beachum, Larry Fitzgerald and Andre Iguodala, Step said in a statement on Wednesday.

The startup, which has attracted more than 500,000 users since launching two months ago, will use the funding to grow the team and

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FCC Chairman Ajit Pai, who killed net neutrality, will step down after Trump term ends

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Ajit Pai, chairman of the FCC, will finish up in January.


Mark Licea/CNET

Ajit Pai, chairman of the Federal Communications Commission, will step down Jan. 20, the agency said in a release Monday. He was appointed by President Donald Trump, who took office in 2017, and will leave on the day Trump’s successor, Joe Biden, is inaugurated.

“It has been the honor of a lifetime to serve at the Federal Communications Commission, including as chairman of the FCC over the past four years,” Pai said in the release. “I am grateful to President Trump for giving me the opportunity to lead the agency in 2017, to President Obama for appointing me as a Commissioner in 2012, and to Senate Majority Leader McConnell and the Senate for twice confirming me. To be the first Asian American to chair the FCC has been a particular privilege. As I often say: only in

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Next Step in Government Data Tracking Is the Internet of Things

WASHINGTON—U. S. government agencies from the military to law enforcement have been buying up mobile-phone data from the private sector to use in gathering intelligence, monitoring adversaries and apprehending criminals.

Now, the U.S. Air Force is experimenting with the next step.

The Air Force Research Laboratory is testing a commercial software platform that taps mobile phones as a window onto usage of hundreds of millions of computers, routers, fitness trackers, modern automobiles and other networked devices, known collectively as the “Internet of Things.”

SignalFrame, a Washington, D.C.-based wireless technology company, has developed the capability to tap software embedded on as many as five million cellphones to determine the real-world location and identity of more than half a billion peripheral devices. The company has been telling the military its product could contribute to digital intelligence efforts that weave classified and unclassified data using machine learning and artificial intelligence.

The Air Force’s

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Sonos Takes A Step Forward In Internet Radio With SuperHiFi’s AI Technology

Sonos, the maker of multi-room networked speakers, launched Sonos Radio
SONO
HD today. Sonos Radio HD is a subscription digital radio service for Sonos devices that features a few dozen curated music channels and access to over 60,000 streaming radio stations for $7.99/month. It follows on the heels of Sonos Radio, a free service introduced back in April. Sonos Radio HD adds several exclusive stations as well as skip and limited repeat functions, and it removes ads. It also features two advances in Internet radio technology. One is CD-quality audio using lossless FLAC compression.

The other is Sonos Radio HD’s secret weapon: technology that uses AI and machine learning to produce programming that sounds like someone slaved over it in a recording studio before it aired. But it’s all done automatically and in real time. The technology comes from a startup called SuperHiFi. Sonos Radio HD

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PlayStation 5: The Next Step in Sony’s Rebound

Not that long ago, a typical American household might have been full of Sony devices. There was probably a Walkman or a Discman lying around, not to mention Sony boomboxes, VCRs, stereos, televisions and a list that went on and on.

These days, most household Sony collections have been whittled to a single product: a PlayStation gaming console.

As it prepares to start selling its fifth major game console in 25 years on Thursday, Sony has largely become the PlayStation company. Just as the $160 billion video game industry has outstripped film and music in the global market, the business that Sony started in the 1990s is now its biggest, most profitable division.

Sony bore major responsibility for popularizing entertainment technologies, from the transistor radio to the color television to the cassette tape to the compact disc. Yet the company then squandered opportunities in digital music, smartphones and televisions, leaving

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