Daily Crunch: TikTok faces children’s privacy fine

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1. FTC ruling sees Musical.ly (TikTok) fined $5.7M for violating children’s privacy law, app updated with age gate

In an app update released yesterday, all users will need to verify their age, and the under 13-year-olds will then be directed to a separate, more restricted in-app experience that protects their personal information and prevents them from publishing videos to TikTok .

And if you’re confused about Musical.ly versus TikTok: The Federal Trade Commission had begun looking into TikTok back when it was known as Musical.ly, and the ruling itself is a settlement with Musical.ly.

2. How Disney built Star Wars, in real life

Over the course of the past five years, Walt Disney Imagineering has been hard at work making the world of Star Wars a reality on Earth. Matthew Panzarino has all the details, with plenty of tantalizing images.

3. Amazon Prime members can choose a weekly delivery date with launch of ‘Amazon Day’

The option lets shoppers pick a day of the week to take delivery of their recent orders. The boxes will then arrive together on the selected Amazon Day, in fewer boxes.

4. Zūm, a ridesharing service for kids, raises $40M

Zūm is a mobile app that enables parents to schedule rides for their kids from fully vetted drivers. It also partners with school districts to support their transportation needs.

5. Dow Jones’ watchlist of 2.4 million high-risk individuals has leaked

The data, since secured, is the financial giant’s Watchlist database, which companies use as part of their risk and compliance efforts.

6. SoftBank’s Vision Fund invests $1.5B in Chinese second-hand car startup Chehaoduo

The Beijing-based company operates two main sites — peer-to-peer online marketplace Guazi for used vehicles, and Maodou, which retails new sedans through direct sales and financial leasing.

7. Netflix may be losing $192M per month from piracy, cord cutting study claims

As many as one in five people today are mooching off of someone else’s account when streaming video from Netflix, Hulu or Amazon Video, according to a new study from CordCutting.com. Of these, Netflix tends to be pirated for the longest period.