Klarna Reveals AI Shopping Tool; Utah Files Lawsuit Against TikTok

by Hannah Dillon on 12th Oct 2023 in News

In today's ExchangeWire news digest: Klarna reveals a new shopping feature powered by AI; TikTok faces legal action in Utah; and RepubliK raises USD$6m ($4.8m) in a seed funding round.

Klarna releases new AI-powered shopping tool

Buy-now-pay-later firm, Klarna, is releasing a slew of new features, including an AI-powered image search tool. The feature, Shopping lens, will allow people to take photos of items such as clothes or electronics to find out where they can be purchased. Available to the US, UK, and multiple European markets, the tool can reportedly match over 10 million items to over 50 million suppliers.

Utah sues TikTok, alleges harm towards children

The state of Utah has filed a lawsuit against TikTok, claiming it creates unhealthy social media habits amongst children. Announcing the lawsuit on Tuesday (10th October), governor Spencer Cox said, “We will prevail in holding social media companies accountable by any means necessary”. Authorities in Arkansas and Indiana have raised similar suits in recent weeks.

RepubliK raises USD$6m, looks to enhance creator monetisation

Singapore’s RepubliK has raised USD$6m (~£4.8m) in a seed funding round. The social media start-up plans to use the funds to enhance its platform, which allows users to leave video and image comments on content. It also provides Web3 tools for creators to manage tokens on the platform and take home “a significantly larger share” of their earnings.