Short-form video app Triller raised $310M from Global Emerging Markets ahead of its IPO, but does not need to draw the full sum; Triller claims 350M+ downloads (Eileen AJ Connelly/The Wrap)

Chris Willman / Variety:
Timbaland and Swizz Beatz settle a missed payments lawsuit with Triller after Triller acquired their music series Verzuz in March 2021; terms were not disclosed  —  Swizz Beatz and Timbaland have settled their lawsuit with Triller, after suing the service last month for $28 million …

Kristin Robinson / Billboard:
Triller removes music catalogs for UMG, WMG, Sony Music and Merlin after Sony filed a lawsuit claiming Triller failed to make payments worth “millions”  —  Following Sony’s lawsuit, one label source says “millions” in unpaid royalties are the issue.  Triller denies this, saying the app is “reassessing” label deals.

Eileen AJ Connelly / The Wrap:
SEC sues two former MoviePass CEOs, charging them with misleading investors about profit potential, data operations, studio relationships, and revenue sources  —  The Securities and Exchange Commission filed suit against two former CEOs of MoviePass, charging them with misleading investors …

Romain Dillet / TechCrunch:
PhotoRoom, which is bringing generative AI to its photo editing app for e-commerce vendors and SMBs, raised a $19M Series A; the app has 7M MAUs, 40M+ downloads  —  French startup PhotoRoom has raised a $19 million Series A funding round.  The company develops a popular photo editing app for e-commerce vendors and small businesses.

Manish Singh / TechCrunch:
Indian B2B marketplace Udaan raised $120M in convertible notes and debt, taking its funding to $350M+ in the past year, and plans an IPO in 12-18 months  —  India’s Udaan has raised $120 million in convertible notes and debt led by existing shareholders and bondholders …

Amanda Silberling / TechCrunch:
TikTok adds TikTok Now, a BeReal-like feature, to its app in the US, with daily prompts to capture a 10-second video or a photo using front and back cameras  —  TikTok launched a new feature today that is basically just a copy of BeReal, the buzzy French social app that’s been steadily gaining popularity.