we start in the us, where the british tech tycoon mike lynch has been cleared of fraud charges in a san francisco court. once hailed as a uk bill gates, mr lynch was facing fraud charges over the $11 billion sale of his software firm, autonomy, to hewlett packard back in 2011. mr lynch had been accused of inflating the value of his firm ahead of the sale a jury has found him not guilty on all counts. our north america business correspondent erin delmore has the details. when autonomy was sold to hewlett packard 13 years ago for $11.1 billion, it was one of the top 100 public companies in the uk. the sale marked the la rgest ever takeover of a british technology business. but hewlett packard later wrote down the company s value by more than $8 billion, leading to criminal charges that mike lynch had defrauded hewlett packard by inflating the value of autonomy. the businessman was extradited from britain to the united states to stand trial on the charges, which could have put
with the tech giants at the fore. the likes of nvidia stealing the headlines as it become the second most valuable us public company overtaking apple breaking the $3 trillion market cap on wednesday. but it s a much smaller tech ish firm that s also been making the news, as once again the meme stock gamestop s value has soared up over 40% in trading on thursday. so what s going on? market analyst craig erlam joins me now. why the sudden surge? it seems this has been why the sudden surge? it seems this has been driven why the sudden surge? it seems this has been driven by - why the sudden surge? it seems this has been driven by roaring l this has been driven by roaring kitty who has been synonymous with the moves we have seen in the past with these meme stocks, and he says he s going to do a live stream. the picture he tweeted less than a month ago, a man leaning forward, which initiated this
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But what exactly does this mean for Aussies who use the platform?
After expanding to Canada and the UK over the last year, Sydney is now home to the company s first base in the Southern Hemisphere.
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Reddit s Chief Operating Officer Jen Wong. (Supplied)
Jen Wong, Reddit s Chief Operating Officer, told 9News the expansion would open a variety of doors to Australian businesses, as well as strengthen and build out Aussie communities. This brings an immense opportunity for Aussie brands seeking to engage with audiences seeking information to make decisions, Ms Wong said.
Ms Wong said more than half of Reddit s user base is more likely to trust a brand that takes part on the platform.