Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
SAN FRANCISCO, Aug. 16, 2017 -- Smyte has won the Visa Developer Platform API Challenge, a competition created by Visa as part of its Everywhere Initiative. The competition, which had 600 entrants, invited startups to participate in three categories: IoT, Developer Platform API and Event Commerce Experience. Smyte was awarded $25,000 for winning the API Challenge.
Visa’s Everywhere Initiative was created in 2015 to drive strong business outcomes by harnessing the creativity and talent within the startup community. The Developer Platform API Challenge asked participants to propose solutions to use Visa APIs for more meaningful commerce or finance-related experiences for customers. In response, Smyte explored an integration with Visa’s CyberSource Payments API that would include new advanced anti-fraud and security capabilities for cardholders, such as detecting and preventing two-sided marketplace fraud (fake inventory, buyer-seller collusion), spam, harassment and compromised accounts.
Smyte was founded in 2014 by security and IT infrastructure engineers from Facebook, Google and Instagram. The company’s trust and safety SaaS platform, which launched in 2015, is now used by top peer-to-peer marketplaces and social networks including GoFundMe, Indiegogo, TaskRabbit and Quora to prevent spam, scams, harassment and fraud. The platform analyzes over five billion online actions every month using a variety of techniques, such as manual heuristics, machine learning and deep learning, making it harder for internet mischief-makers to disrupt online businesses.
“Visa is one of the world’s payments innovation companies and a powerful brand worldwide,” says Pete Hunt, CEO of Smyte. “Winning an award of this nature is phenomenal and being selected is a testament to the challenges companies face in protecting consumers from fraud, spam and harassment online. Our mission is to provide companies with the tools and technologies they need to deliver safer and more secure online customer experiences.”
About Smyte
Smyte is an online security startup based in San Francisco, California. The company was founded in 2014 by former Facebook, Google and Instagram security and infrastructure engineers. Its trust and safety platform is used by many of the leading peer-to-peer marketplaces and social apps to combat spam, scam, online harassment and credit card fraud. Smyte is a graduate of the Y Combinator Winter 2015 program. More info at www.smyte.com.
Media contact: Kevin Wolf TGPR (650) 327-1641 [email protected]
