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A Facebook whistleblower who brought internal documents detailing the company’s research to The Wall Street Journal and the U.S. Congress unmasked herself ahead of an interview she gave to “60 Minutes,” which aired Sunday night.

Frances Haugen, a former product manager on Facebook’s civic misinformation team, according to her website, revealed herself as the source behind a trove of leaked documents. On her personal website, she shared that during her time at the company, she “became increasingly alarmed by the choices the company makes prioritizing their own profits over public safety — putting people’s lives at risk. As a last resort and at great personal risk, Frances made the courageous act to blow the whistle on Facebook.”

Haugen previously worked as a product manager at Pinterest, Yelp and Google, according to her LinkedIn profile. She also lists herself as the technical co-founder behind the dating app Hinge, saying she took its precursor, Secret Agent Cupid, to market.

“I’ve seen a bunch of social networks and it was substantially worse at Facebook than anything I’d seen before,” Haugen told “60 Minutes.”

Haugen told “60 Minutes” she left Facebook in May.

Jeff Horwitz, the Journal reporter who wrote the series of articles based on the leaked documents, also shared Haugen’s identity on Twitter on Sunday night, revealing her as the key source behind the stories.

The documents, first reported by the Journal, revealed that Facebook executives had been aware of negative impacts of its platforms on some young users, among other findings. For example, the Journal reported that one internal document found that of teens reporting suicidal thoughts, 6% of American users traced the urge to kill themselves to Instagram.

Facebook has since said that the Journal’s reporting cherry-picked data and that even headlines on its own internal presentations ignored potentially positive interpretations of the data, like that many users found positive impacts from engagement with their products.

“Every day our teams have to balance protecting the ability of billions of people to express themselves openly with the need to keep our platform a safe and positive place,” Facebook spokesperson Lena Pietsch said in a statement following Haugen’s identity reveal. “We continue to make significant improvements to tackle the spread of misinformation and harmful content. To suggest we encourage bad content and do nothing is just not true.”

Haugen said she decided this year to make Facebook’s internal communications public, saying she realized she would need to do so “in a systemic way” and “get out enough that no one can question that this is real.”

Haugen in turn copied and released tens of thousands of pages of documents, “60 Minutes” reported.

Haugen pointed to the 2020 election as a turning point at Facebook. She said Facebook had announced it was dissolving the “Civic Integrity” team, to which she was assigned, after the election. Just a few months later, social media communications would be a key focus in the wake of the January 6 insurrection at the U.S. Capitol.

“When they got rid of Civic Integrity, it was the moment where I was like, ‘I don’t trust that they’re willing to actually invest what needs to be invested to keep Facebook from being dangerous,'” Haugen told “60 Minutes.”

Facebook told the news program that it had distributed the work of the Civic Integrity team to other units.

Haugen pointed to Facebook’s algorithm as the element that pushes misinformation onto users. She said Facebook recognized the risk of misinformation to the 2020 election and therefore added safety systems to reduce that risk. But, she said, Facebook loosened those safety measures once again after the election.

“As soon as the election was over, they turned them back off or they changed the settings back to what they were before, to prioritize growth over safety,” Haugen said. “And that really feels like a betrayal of democracy to me.”

Lawmakers have appeared unmoved by Facebook’s responses to the Journal’s reporting based on Haugen’s disclosures. During a hearing before the Senate Commerce subcommittee on consumer protection Thursday, senators on both sides of the aisle lambasted the company, urging it to make its temporary pause on building an Instagram platform for kids permanent. The lawmakers said they did not have faith Facebook could be a good steward of such a platform based on the reports and past behavior.

The whistleblower is scheduled to testify before the Senate Commerce subcommittee on consumer protection on Tuesday. Facebook’s Global Head of Safety Antigone Davis told lawmakers on Thursday that Facebook would not retaliate against the whistleblower for her disclosures to the Senate.

Haugen said she has “empathy” for Facebook CEO Mark Zuckerberg, saying he “has never set out to make a hateful platform. But he has allowed choices to be made where the side effects of those choices are that hateful, polarizing content gets more distribution and more reach.”

She called for more regulations over the company to keep it in check.

“Facebook has demonstrated they cannot act independently Facebook, over and over again, has shown it chooses profit over safety,” Haugen told “60 Minutes.” “It is subsidizing, it is paying for its profits with our safety. I’m hoping that this will have had a big enough impact on the world that they get the fortitude and the motivation to actually go put those regulations into place. That’s my hope.”

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Buy now, pay later lender Klarna files for U.S. IPO

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Buy now, pay later lender Klarna files for U.S. IPO

Pedestrians walk by an advertisement for Klarna.

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Klarna, a provider of buy now, pay later loans filed its IPO prospectus on Friday, and plans to go public on the New York Stock Exchange under ticker symbol KLAR.

Klarna, headquartered in Sweden, hasn’t yet disclosed the number of shares to be offered or the expected price range.

The decision to go public in the U.S. deals a significant blow to European stock exchanges, which have struggled to retain homegrown tech firms. Klarna CEO Sebastian Siemiatkowski had hinted for years that a U.S. listing was more likely, citing better visibility and regulatory advantages.

Klarna is continuing to rebuild after a dramatic downturn. Once a pandemic-era darling valued at $46 billion in a SoftBank-led funding round, Klarna saw its valuation slashed by 85% in 2022, plummeting to $6.7 billion in its most recent primary fundraising. However, analysts now estimate the company’s valuation in the $15 billion range, bolstered by its return to profitability in 2023.

Revenue last year increased 24% to $2.8 billion. The company’s operating loss was $121 million for the year, and adjusted operating profit was $181 million, swinging from a loss of $49 million a year earlier.

Founded in 2005, Klarna is best known for its buy now, pay later model, a service that allows consumers to split purchases into installments. The company competes with Affirm, which went public in 2021, and Afterpay, which Block acquired for $29 billion in early 2022. Klarna’s major shareholders include venture firms Sequoia Capital and Atomico, as well as SoftBank’s Vision Fund.

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Shares of DocuSign surge 14% on strong earnings, AI boost

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Shares of DocuSign surge 14% on strong earnings, AI boost

DocuSign CEO Allan Thygesen on Q4 results, launch of DocuSign IAM and growth outlook

Docusign rose more than 14% after reporting stronger-than-expected earnings after the bell Thursday.

“We’ve really stabilized and I think started to turn the corner on the core business,” CEO Allan Thygesen said Friday on CNBC’s “Squawk Box.” “We’ve become much more efficient.”

Here’s how the company performed in the fourth quarter FY2025 compared to LSEG estimates:

  • Earnings per share: 86 cents vs. 85 cents expected
  • Revenue: $776 million vs. $761 million

The earnings beat was boosted in part by the electronic signature service’s new artificial intelligence-enabled content called Docusign IAM, a platform for optimizing processes involving agreements.

“It’s tremendously valuable,” Thygesen said. “It’s opening a treasure trove of data. … We’re seeing excellent pickup.”

Looking to fiscal year 2026, Thygesen said Docusign expects IAM to account for low double digits of the total growth of the business by Q4.

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Thygesen said the company is also partnering with Microsoft and Google, which the company does not view as competitors because they’re “not looking to become agreement management specialists.”

Despite consumer sentiment and demand dipping across the board due to tariff uncertainty, Thygesen said the company has not seen anything yet in its transactional activity to indicate a slowdown in demand or growth.

“More and more people are going to want to sign things electronically,” Thygesen said.

The company reported subscription revenue at $757 million, marking a 9% year-over-year increase. Docusign said it expects first-quarter revenue between $745 million and $749 million and projects full-year revenue between $3.129 billion and $3.141 billion.

Docusign reported net income of $83.50 million, or 39 cents per share, compared to net income of $27.24 million, or 13 cents per share, a year ago. Fourth-quarter revenue of $776 million was up 9% from the year-ago quarter.

DocuSign went public in 2018 at a $6 billion valuation. The company’s share price soared during the pandemic as demand for remote services boomed during lockdowns and social restrictions, hitting record highs in 2021 before plummeting. Thygesen, who previously worked at Google, joined the company in September 2022 after DocuSign’s massive slide.

The stock is down more than 16% year-to-date.

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Tech’s 3-week sell-off, led by Tesla, wipes out $2.7 trillion in value from megacaps

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Tech's 3-week sell-off, led by Tesla, wipes out .7 trillion in value from megacaps

Less than two months ago, the tech industry’s top leaders flocked to Washington, D.C., for the presidential inauguration, part of an effort to strike a friendly tone with President Donald Trump after a contentious first go-round in the White House.

Thus far, they’ve avoided any nasty social media posts from the president. But their treatment by investors has been anything but warm.

Over the last three weeks, since the Nasdaq touched its high for the year, the seven most valuable U.S. tech companies — often called “the Magnificent Seven” — have lost a combined $2.7 trillion in market value. The sell-off has pushed the Nasdaq to its lowest level since September.

As of Thursday, the tech-heavy index was down 4.9% for the week, heading for its worst weekly performance in six months. If it ends up down more than 5.8%, it would be the steepest weekly drop since January 2022.

Sparking the downdraft was President Trump’s promise to slap high tariffs on top trading partners, including China, Mexico and Canada, along with mass firings of government workers. The combination of a potential trade war and rising unemployment is particularly troubling news for consumer and business spending and has raised fears of a recession.

Additionally, many technology companies import key parts from abroad, and rely on trade partners for manufacturing.

This isn’t what Wall Street was expecting.

Following Trump’s election victory in November, the market jumped on prospects of diminished regulation and favorable tax policies. The Nasdaq climbed to a record close on Dec. 16, capping a more than 9% rally over about six weeks after the election.

Since then, electric car maker Tesla has lost close to half its value, despite — or perhaps because of — the central role that CEO Elon Musk is playing in the Trump administration.

The Nasdaq’s high point for the year came on Feb. 19, about a month into Trump’s second term. But it finished that week lower and has continued its precipitous decline.

Here’s how the seven megacaps have fared over that stretch:

Apple, the world’s most valuable company and the only remaining member of the $3 trillion club, has lost $529 billion in market cap since the close on Feb. 19. The iPhone maker is down 17%.

Microsoft, which was previously worth over $3 trillion, has fallen by $267 billion in the past three weeks, a drop of close to 9% for the software giant.

Nvidia, the chipmaker that’s been the biggest beneficiary of the artificial intelligence boom, also slid below $3 trillion over the course of losing $577 billion in value, the biggest dollar decline in the group. Like Apple, the stock is down 17% since the Nasdaq peaked.

Amazon is down by $347 billion, falling by 14%, while Alphabet is off by $275 billion after a 12% decline. Meta has shed $286 billion in market cap, a 16% drop.

Tesla has seen by far the biggest percentage decline at 33%, equaling $386 billion in value.

Goldman Sachs on Wednesday referred to the group as the “Maleficent 7.” Chief U.S. equity strategist David Kostin noted that the basket now trades at its lowest valuation premium relative to the S&P 500 since 2017. Goldman cut its price target on the benchmark index to 6,200 from 6,500. The S&P 500 closed on Thursday at 5,521.52.

“We believe investors will require either a catalyst that improves the economic growth outlook or clear asymmetry to the upside before they try to ‘catch the falling knife’ and reverse the recent market momentum,” Kostin wrote.

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