SenseTime breaks records in $600mn Alibaba-led funding round

Alibaba Sues Dubai's Alibabacoin

Alibaba Sues Dubai's Alibabacoin

Apple CEO Tim Cook has also criticised Facebook over its data misuse and said that the social media site should have regulated itself but it is too late for that now. He further asked Zuckerberg to take this really "seriously".

China's SenseTime has raised $600 million in a round of funding led by e-commerce giant Alibaba.

He was responding to questions at the annual Boao Forum in China over the recent revelation that personal data of Facebook users may have been improperly shared with political consultancy firm Cambridge Analytica, which in turn allegedly used the data to influence the 2016 United States presidential election. Facebook "never expected this to grow like that" just 15 years ago, he said, adding that "all the problems they could not realize" have now surfaced.

Facebook's shares have tumbled since the company disclosed in March that it may have shared the personal data of tens of millions of users with Cambridge Analytica, a research firm that helped elect President Donald Trump.

"It is the time we fix it", he said.

Zuckerberg on Monday swapped his trademark T-shirt and jeans for a dark suit and a purple tieas he met United States lawmakers to apologize for the social network's misuse of its members' data and to head off possible regulation. The CEO plans to say that the company's problems are his mistake. He told Congress in written testimony that he was "responsible for" not preventing the social media platform from being used for harm, including fake news, foreign interference in elections and hate speech.

Ma stopped short of laying out his views in detail, but did say the social network was valuable and that its issues may have arisen simply because of its phenomenal and unprecedented expansion. Alibaba Executive Vice Chairman Joe Tsai said in the statement, "We are especially impressed by their R&D capabilities in deep learning and visual computing". So all of the problems they did not realise came up!

According to him, instead of his company being able to generate a million new jobs in the U.S., as promised by him, a lot more American jobs would be lost if relations with China worsened.

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