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The network has decided not to continue to produce daily, customized content for its Snapchat Discover channel, Business Insider has learned, and Sept. 30 will be its last day on the platform.
The Viacom property, however, is in talks with Snapchat to produce a show for Discover, said sources familiar with the matter.
To read more about the network's decision, click here.
In other news:
Facebook let advertisers target 'Jew Haters.' ProPublica found that Facebook enabled advertisers to direct their pitches to the news feeds of almost 2,300 people who expressed interest in the topics of "Jew hater," "How to burn jews," or, "History of 'why jews ruin the world."
Following the damning revelation, Facebook has updated its ad targeting system. The company said that it was removing self-reported targeting fields such as "Jew Haters" to ensure that targeting is not used for discriminatory purposes.
Meanwhile, three former Google employees have sued the company for allegedly paying women less than men. The plaintiffs are a former Google software engineer, a former communications specialist and a former manager who worked in various roles at the Mountain View, California-based company.
Speaking of Google, its parent company Alphabet is reportedly considering investing $1 billion (£743 million) in Lyft. Alphabet's self-driving car company Waymo already collaborates with Lyft.
On the other hand, Softbank reportedly wants to invest $10 billion (£7.4 billion) in Uber. The deal could give Softbank as much as a 22% stake in the ride-hailing company.
Nestlé is spending up to $500 million (£371 million) to buy a majority stake in the trendy coffee chain Blue Bottle. The chain is backed by investors including Instagram CEO Kevin Systrom and Twitter cofounder Evan Williams.
Facebook COO Sheryl Sandberg said on stage in Germany yesterday that "we're the only company in Silicon Valley that's not building a car." The audience at the Frankfurt motor show laughed and applauded.
A group of six advertising trade associations, including the 4As, Association of National Advertisers and Interactive Advertising Bureau are teaming up against Apple, the Wall Street Journal reports. They are protesting Apple's latest move to block advertisers from collecting certain data that helps them target ads to users.
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