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Showing posts from May, 2018

The Skydio R1 self flying camera now films moving cars

image credit : Skydio Skydio, The robotics company founded 4 years ago notable for its R1 autonomous drone which shoots 4K footage and could capture moments while following people around has now gotten an awesome feature which breaks ground in so many ways. The drone can now follow moving cars while shooting footage, A new feature which will see it capturing much more better, daring and actionable moments which is a feature that can be likened to that of high budget Hollywood studios when making scenes involving automobiles. This new feature dubbed "Car Follow" comes as a cinematic mode which films its users on four wheels and was made possible with the training of the drones' neural networks using a huge number data sets of different car images, The drone will make use of its 13 cameras for the feature of capturing nice footage and also autonomously guiding its locomotion from different positions. The self-flying camera will gain this feature after a s

Warren Buffett almost invested $3 Billion in Uber

image credit : Flickr/DonkeyHotey Several reports have emerged that legendary investor Warren Buffett had plans to invest a huge $3 Billion in Uber earlier this year until the deal fell through for different reasons, This reports have now been confirmed by Warren Buffett himself who said he's a great admirer of current Uber CEO Dara Khosrowshahi with Dara also stating in a recent CNBC interview  that part of his business goals has been to get Warren Buffett to invest in something he's involved in, A goal which has not yet been marked. Bloomberg reported that Warren Buffett proposed even a price well above $3 Billion for a convertible loan to the company which would have provided huge capital and profit for both sides as they continued to grow in value but the deal was later trimmed to a size of $2 Billion by CEO Dara Khosrowshahi and ultimately fell through when they couldn't agree on unified terms concerning the investment. This comes as highly recognized investor W

WePlenish's smart container makes you never run out of Pantry supplies

image credit : WePlenish/Kickstarter A new startup WePlenish has launched its new smart container on Kickstarter which is a product which automatically senses when pantry supplies are low and then re-orders them through online shopping site Amazon for the convenience of its customers. The WiFi enabled smart container connects to Amazon Prime accounts to guarantee free 2 day shipping and easy returns with the pantry items being selected by the user, After being ordered, They are placed in the box by the owner and automatically re-ordered when taken out which continues the cycle thereby eradicating the stress of manual ordering and replacement of items by people themselves. image credit : WePlenish/Kickstarter This smart container which is integrated with Amazon's Dash replenishment service and contains sensors to measure quantity replaces Espresso capsules, K-Cup pods, snacks, candy and many other more pantries currently supported by the device and together with its m

Bird - Poised to be The first Scooter Unicorn

image credit : Bird Electric Scooter vehicle sharing company Bird which was founded by a former Uber and Lyft executive has now been reported to be raising $150 million in a new round of funding to expand its services and fend off competition, A new round which will value the company at a huge $1 Billion making it the first electric scooter unicorn if it gets to close this funding round before its major competitor Lime who is also raising additional funds after raising a previous $132 million in funding. It should also be noted that Bird has raised a previous total $115 million in funding and is currently operating in some cities where its electric scooters have been deployed, The company recently ordered a huge number of scooters from several manufacturers although there have been complaints from pedestrians that its scooters have obstructed roads and caused inconveniences for them, Anyway we expect that this is a problem Bird will fix soon using the best form of logistics. Bir

Nio confidentially files for $2 Billion IPO

image credit : Nio Nio, An electric vehicle manufacturer backed by a slew of Chinese companies previously raising a total of $2.1 Billion at a value of $5 Billion has confidentially filed for IPO with the U.S. SEC. This will see the company who currently sells its electric Sports Utility Vehicle currently in China raise up to a reported $2 Billion over the Summer in this public offering of its shares. This comes with previous reports that major tech investor Softbank was interested in acquiring a huge amount of the shares offered in the IPO for a price of $200 million, Nio's ES8 vehicle is a major competitor to the Tesla Model X in China where they both experience very good sales even with Nio's vehicle being more cheaper with The Nio ES8 costing $70,000 before incentives in comparison with Tesla's Model X which retails for over $100,000 in China due to tariffs placed on its importation which makes it more expensive than it is in the U.S. Image credit : Nio

Taxify raises new huge round at a $1 Billion+ valuation

image credit: Taxify Taxify, The popular ride-hailing app which gives Uber a ride for its profits in several European and African countries has raised a huge investment round of $175 million led by Automotive giant Daimler AG at a whooping $1 Billion valuation marking a new entry into the unicorn space. The Estonian startup co-founded by brothers Markus and Martin Willig and currently led by 24 year old Markus Willig also counted investors Taavet Hinrikus who also co-founded Billion dollar fintech company TranferWise and Chinese ride hailing giant Didi Chuxing who re-invested in this round after previously investing an undisclosed 10 figure sum and providing Taxify with access to its network of knowledge and engineers to scale its operations. Taxify is currently based in Estonia and operates in a network of 40 cities across Europe, Africa, The Middle East and Central America having a huge network of 500,000 riders and over 10 million global customers. Taxify currently

Voodoo Games raises a huge $200 Million

image credit: Voodoo.io Voodoo, A Paris based video game publisher notable for many games including Paper.io, Snake vs Block, Dunk Hit, Stack Jump and a slew of others has raised a huge $200 Million in funding to expand its operations, In turn developing a publishing space for mobile game developers. The company made it known that during the ongoing Casual Connect conference which also featured speakers from other big game companies including Zynga, Netmarble and Naturalmotion that Goldman Sachs is a major investor in the company whilst its founders still retain a majority stake, The company didn't reveal how much it raised at the conference but major sources pegged the value at a huge $200 million. Vodoo currently holds 9 positions in the top 25 downloaded games chart with the company also stating a huge number of 150 million monthly users and 300 million downloads last year with the company currently using a data-driven process which works very well for its release of cas

Naspers pours $89 million into Frontier Car Group

image credit : FCG The Frontier Car Group popularly known as FCG which is a German technology company dedicated to incubating innovation and investing in the transformation of several used car marketplace technologies around the globe has taken a huge round of funding from OLX Ventures which is in turn a subsidiary of South African based media giant Naspers. This investment comes roughly three weeks after The Frontier Car Group announced a $58 million funding from several investors into the company, The technology company will now use these funds to greatly expand its investment into the various used car marketplaces it operates and backs in order to rapidly scale its mission and also improve revenue statistics. This investment from OLX will also see FCG collaborate with and make use of its huge regional footprints in markets slated for huge growth opportunities to expand its own operations heavily. FCG uses technology to promote the ease of transportation through the p

Moviepass Parent Company slumps low even after huge increase in subscribers

Moviepass, The very popular subscription based ticketing services which charges a $9.95 per month flat fee for one movie a day access has seen its parent company Helios and Matheson Analytics' stock fall to a low $0.40 a share with the entire company being valued at just over $24 million. Moviepass has not been favored by Wall Street analysts on reports of its heavy spending while losing money to raise revenues which is really growing for the company. Helios and Matheson Analytics can be deemed as one who wasn't prepared for the public market but the private market which tolerates temporary money loss in a road to a very profitable future with high valuations. Moviepass has garnered many users for its service, Above 2 million in particular and Moviepass's CEO Mitch Lowe says the company is still going well despite the recent stock slump to this price of $0.40 after once trading at a huge price of over $38. The company is currently adding 90,000 subscribe

The Autonomous technology companies winning right now

image credit : Cruise Automation Autonomous vehicles have been a thing! - This has made driving much more better, Although not yet fully adapted, Self driving technology has grown so much over the years with so many startups gaining huge revenues, gaining huge investments and selling for huge amounts. Cruise Automation sold to General Motors for $1 Billion, Zoox is valued at $1.55 Billion, Quanergy raised $90 million at a $1.59 Billion valuation and also on the list is its Mega competitor Velodyne which is valued at $2 Billion after raising $150 million from Ford and Baidu and is the worlds largest LiDar manufacturer as of now. So many startups have come to this game, The list since endless, So far we have seen so many autonomous technology startups which include: Almotive Cruise Automation Drive.ai Nauto Embark Otto Quanergy Starsky Robotics Velodyne WM Motors Zoox And a slew of many others.... As the race to win the clear future of transportation, Big star

Microsoft outs new game : Miami Street!

Well....brace up, Microsoft has unveiled  new game, Microsoft gives us car racing again, This time for the Windows 10 OS, This new game is so unique for its game-play support on all Surface devices. Miami street is built for a broad audience who love easy to pick-up-and-play experiences according to Electric Square, The Game studio which partnered with Microsoft on the making of this video game which will be gradually rolled out to users for testing and feedback gathering. This new game can be downloaded from the Microsoft store in the countries which its available in, It features One one One racing, realistic car control physics, Dynamic wide cameras, huge selection of cars and a swath of other amazing features. In this game, You get to enter an event, choose your car lineup and opponent and then challenge your way to victory, You get to race in beautiful city streets and enjoy the speed and high quality race in very good definition. The game also gets regular updates whi

Our dear Tim Draper sings about crypto

image credit : Flickr/ JD Lasica Notable tech investor and venture capitalist Tim Draper recently attended The  Next Web's crypto conference in the Netherlands capital of Amsterdam and gave a very nice talk on the future and current activities of the crypto world, But the fun really started when he took to the stage to sing about Bitcoin while donning a nice looking suit and a purple tie designed with bitcoin patterns, Bloomberg profiled the dude's amazing freestyle which the audience really seemed to enjoy. Will @TimDraper break the charts with his singing skills? ‘I’m a Bitcoin hustle’ #TNW2018 pic.twitter.com/pGMRZLSSXX — Kevin | 李大仁 (@kevinvdveer) May 25, 2018 The dude really spit some cool rhymes with nice flows like "We want a newwwww world ooorderrr, We wanna pay across the border" He continues "Just wanna be a hodler.....on my bitcoin hustle". This lines came after Draper had a fireside chat on the topic of blockhain investment with Bloo

Top Hardware unicorns in the world right now

Unicorns (private companies valued at over $1 Billion) have grown globally over the years with over 200 in existence right now in so many tech sectors with the bulk coming from e-commerce and Fintech, Hardware has always been a very competitive space with companies getting to heavily go head-to-head with each other to grab consumer and enterprise attention, Right here, We are bringing the list of the current hardware unicorns that are making huge revenues and currently gaining very good traction, These companies all together are worth more than a whooping $70 Billion and got revenues of over $20 Billion last year alone. They are: Xiaomi image credit : Xiaomi Founded just 8 years ago by the 8 people pictured above with Lei Jun (middle) as the major player, Xiaomi which is notable for its high end smartphones coming at cheaper prices made a whooping $18 Billion in last year's revenue and currently commands a huge private valuation of $46 Billion after raising a total of $3.4

Your Graduation Gift Guide for this year's class

Currently and at some time soon this year, People are/will be graduating from different levels of the educational environment with this marking a very good moment of happiness for many, You know high-schoolers who hate school and could not wait to leave or PhDs who amazingly love what they do and can't wait to use their profound knowledge to go and impact the huge world out there, The same goes for all levels of education, People just belong to different categories. If you're the one graduating, Kudos!, If its someone you know, Kudos! also, You are both very happy we deduce and would love to reward each other with amazing gifts to celebrate this milestone. In your rewarding journey, We reward you with a guide on the gifts to buy to make yourselves happy, Get the consumerist experience and also make huge impact in your lives. We present to you the: During these special set of events, You would love to share and get gifts for others and yourself and The Techie has co

Self-Driving cars can now make speedy decisions in lane changes thanks to new research

image credit: MIT News MIT's Computer Science and Artificial Intelligence Laboratory Researchers have developed a new algorithm which lets self-driving cars make lane changes swiftly, accurately and easily. The new algorithms will use less information but faster application to make self-driving cars capable of making emergency and swift lane changes to improve autonomous cars' handling of emergency situations to make them more adaptive to current road driving. Previous algorithm solutions to this were based on complex information bombarded models that provided less time to the cars to take decisions on lane changes during speedy and unexpected situations or some were just too limited in deductions to make good decisions while on the road. MIT aimed to change that with the goal of doing as much as possible with the least information required and effective and they have made a huge step in that through the development of this new system. With this new algorithm, Vehi

Magento Commerce acquired for $1.68 Billion by Adobe

image credit: Adobe 11 years after its founding, Popular e-commerce platform for open innovation has been acquired in a huge deal worth $1.68 Billion from technology focused private equity firm Permira which notably purchased a slice of Cisco's Video business earlier this month for a huge $1 Billion. This will see Magento's  platform which provides a wide range of tools, features and add-ons for businesses to host e-commerce solutions just like its major popular competitor Shopify integrate into Adobe's Experience Cloud to provide much more better Business-to-Business and Business-to-Consumer solutions in the e-commerce space adding this major industry to Adobe's list of offerings. Magento which currently shares customers with $100 Billion+ giant Adobe many of which include huge brands Nestle, Coca-Cola and the Time Warner Music Group will merge their digital experiences and innovations which increases Adobe's content strength, Market share and product effici

Amazon India is worth what Walmart paid for its Flipkart Stake

image credit : Flickr via CC License According to a new analysis from the highly recognized financial services firm Citi Research, Amazon's Indian unit has been valued at a huge $16 Billion which comes as the same price Walmart paid for a 77% stake in India's largest e-commerce unit Flipkart at a valuation of over $20 Billion dollars. This makes Amazon India just $4 Billion shy of Flipkart's huge $20 Billion+ valuation and proves that Amazon is in for huge competition with the company in the Indian e-commerce space which is slated to grow heavily in the upcoming years making a huge win for those who achieve huge market share right now. Citi’s senior analyst Mark May and Hao Yan stated in the report that Amazon is expected to reach sales of $70 Billion worth of gross merchandise volume and achieve over $10 Billion in revenue in just 9 years time from the country, Amazon is predicted to capture 35% of the e-commerce market in India according to this detailed analysis.

OneSpace launches China's first Private Space Rocket

OneSpace Technology, a Beijing based space exploration startup just launched its 30ft rocket dubbed The “Chongqing Liangjiang Star” marking it the first occurrence of a non-government body launching a commercial vehicle to space, The rocket took off from a Northwestern Chinese base with a blast on a mission to deliver a small satellite to space which will be used for research the startup is working to further its space exploration missions. OneSpace built the rocket entirely using Chinese technology and made its launch as cheap as possible through the use of innovative but less expensive systems such as wireless communication through the internet which costs 30% in comparison with the use of wired internet systems which adds more weight to the rocket and greatly increases the cost of launch. This comes as the company has raised a total of $78 million for its operations, A sum which seems huge for other industries but not in the expensive world of space exploration although all th

Drones can now be tested "In Virtual Reality"

Researchers at the previous Massachusetts Institute of Technology have broken grounds on a system which would be ultimately used to test and train drones without the physical constraints attached using a VR system, The exact way we humans step into an immersive world when we put on a VR headset now applies to intelligent drones, These drones will learn how to avoid obstacles and collisions, Move at great speed and also maneuver through different positions all while learning like its actually doing it in the real world. This way, even when drones unfortunately hit an obstacle using this "Flight Goggles" system, The damages are studied and taken virtually as opposed to physical damage which takes a lot of time, delaying trials and costing much more money. This method simulates the drone's sensors moving it through a virtual world as seen in the video above preventing various obstacles such as high winds and different hanging obstacles such as transmission power lines w

Apple sold 600,000 Homepods in the first quarter of this year

 image credit : Apple Apple's Homepod smart speaker didn't really live up to hype although it has recently captured 6% of the Market as of recent selling 600,000 units according to recent analysis by Strategy Analytics. Even why capturing this slice of the market, Major competitors Amazon, Google, Alibaba and Xiaomi took the largest part of the market coming with a 43.6%, 26.5%, 7.6% and 2.4% for the Chinese companies with the combined companies leaving the remaining 13%+ to other players and startups who will have to innovate and disrupt to extensively win in the market. This new statistics comes as competition has rapidly increased with each companies market share being diluted amidst increase in no of sales of smart speakers generally and customers going for different brands among a wide selection to choose from. Amazon had a 94% market share last year  and has gotten to 43.6% whilst still being the leader amidst huge competition from a slew of technology companies an

Fidelity Labs and Amazon create a VR financial assistant "Cora"

Amazon, The company which just released its Sumerian VR developer tools fully to the public had to showcase to everyone what could be made of its platform or supposedly "what its platform was made of" and it did just that with the debut of a VR digital financial advisor in collaboration with Fidelity Investments which let people interact with their investments and financial tasks in 3D. The VR financial advisor is named Cora and combines a voice-commanded bot along with exploration of investment aims in a very unique way for its users. Cora listens to requests from its users for information on the stock performance and financial statistics of different companies and then outputs the resulting information as financial graphs as charts to the user in an immersive form. This not only gets the user huge loads of information at an easy pace, Its immersive experience and data presentation through the use of visual charts also increases the learning and information gatherin

Tanium raises $175 million at a whooping $5 Billion dollar Valuation

Tanium CEO/co-founder Orion Hindawi Notable enterprise cyber-security company Tanium has just recently raised a big round of $175 million in funding from renowned investment firm TPG Capital at a huge valuation of $5 Billion which prior to this owned quite a huge stake in the cyber company founded 11 years ago thereby increasing its ownership slice with this new investment. This is more $1.2 Billion more than its previous valuation of $3.75 Billion which came with a investment round of $100 million which was also led by TOG as of last year, An additional sale of $25 million worth of stock from current shareholders is currently in discussion and is slated to occur anytime soon. Popular and Major Silicon Valley investor Andressen Horowitz along with other investors have been previous backers and shareholders of this huge company founded by Father and Son duo David and Orion Hindawi 11 years ago. Tanium has performed very well with a 100% revenue increase last year and a $

E-Grocer Good Eggs raises $50 Million to rapidly expand

image credit : Good Eggs Good Eggs, The online grocery and meal kit delivery service company which operates currently in The Bay Area has raised $50 million in a new round led by Benchmark Capital with other investors including Index Ventures and Obvious ventures to expand rapidly in The Bay Area which they decided to focus on after discontinuing its service in other markets 3 years ago. The company which backed out from Los Angeles in its move 3 years ago will now return to the city with its services with much more better delivery options. The company now offers the "Same day" delivery option like many of its competitors and now delivers both beer and cocktail kits. Good Eggs delivers fresh products which it gets from local farmers and then ships through its San Francisco warehouse at a very fast rate which ensures the product freshness and quality, They provide the best quality perishables to customers which gives them a competitive edge on par with other major play

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Okta Buys Cloud Security Startup Auth0 For $6.5B

A very big new acquisition has happened in the tech industry, with Okta (NASDAQ: OKTA), the publicly-traded cloud identity and access management software provider, announcing an agreement to buy Auth0, a fellow cloud identity software provider, for a price of $6.5 billion to be paid all with shares. A $6.5 billion exit for Auth0 marks a major win for the startup scene in Seattle, the tech hub where Auth0 is based and also a major win for the company's backers and investors. Auth0 last raised venture funding last year in July with a $120 million Series F round that valued the company at $1.9 billion. Now, it's about to sell for more than triple that amount. Auth0 has raised more than $330 million in total venture funding, with investors including the likes of Salesforce Ventures, Bessemer Venture Partners, Telstra Ventures, Sapphire Ventures, and DTCP. Salesforce Ventures led Auth0's most recent $120 million Series F round. With its acquisition of a fellow cloud identity a

John McAfee Indicted For $13M Crypto "Pump And Dump" Scheme

In October last year, John McAfee who's a controversial entrepreneur best known for founding the cybersecurity powerhouse bearing his last name McAfee was indicted for tax evasion by US authorities  with accusations of earning millions of dollars from cryptocurrency schemes and failing to report income and pay taxes as required to the US government. Now, it appears that McAfee is facing even more charges from US authorities, with the District Court for the Southern District of New York (SDNY) having just announced  further indictments of him for fraud and money laundering coming from alleged crypto "pump and dump" schemes. McAfee along with an associate, Jimmy Watson, are accused of hyping and promoting certain cryptocurrencies on social media in order to artificially inflate their prices without disclosing that McAfee owned large quantities of the promoted crypto and intended to profit from his promotion. McAfee, Watson, and other unnamed associates are alleged to have p

Peter Thiel Cashes Out Big From Palantir

After taking his data analytics and mining company, Palantir, public last year, it seems that Peter Thiel is keen on cashing out significantly from his stake in the company after getting an opportunity to do so on the public markets.  Thiel founded and helped build Palantir from the ground up into a data analytics powerhouse with annual sales of over $1 billion.   Palantir stayed as a private company for 17 years before hitting the public markets. According to regulatory filings and records , Peter Thiel has sold over $780 million of Palantir shares since the company began trading on the New York Stock Exchange (NYSE) in September 2020.  Thiel's largest single sale transaction was an offloading of 20 million shares for $504.8 million on the 19th of February, 2020. His second-largest was the sale of 23 million shares in a transaction netting around $236 million on the 30th of September, 2020, which was the very day Palantir began trading on the NYSE. Altogether, Thiel has netted mor

New SPAC Deal: Bitcoin Mining Startup Cipher

The latest technology company to join the flurry of SPAC mergers is Cipher Mining, a newly-formed US-based bitcoin mining startup that's an offshoot of Bitfury, a leading maker of bitcoin mining hardware that's based in the Netherlands. Cipher Mining Inc will merge with Good Works Acquisition Corp (Nasdaq: GWAC) in a deal valuing the bitcoin mining startup at $2 billion. The SPAC will be anchored by a $425 million PIPE round committed by investors including Fidelity, Morgan Stanley (via its subsidiary Counterpoint Global), and Cipher's parent Bitfury. Bitfury will contribute a $50 million investment to the PIPE round that's structured as purchase credits for equipment and services from it for Cipher Mining. The SPAC merger will hand over $595 million in gross proceeds to Cipher Mining, consisting of the $425 million PIPE round and $170 million of cash held in trust by Good Works Acquisition Corp. Upon completion of the SPAC merger, the investors in Cipher's PIPE rou

Deal: Twilio Bets $750M On Mobile Comms Provider Syniverse

Twilio, the publicly-traded cloud communications company, has sought to strategically team up with an old-guard provider of mobile and wireless communications technology named Syniverse, with a formal business partnership just  announced between both parties that'll see Twilio invest up to $750 million for a minority stake in Syniverse under its terms. Twilio has agreed to invest up to $750 million in cash for a minority stake in Syniverse, buying the stake from the company's current owner which is the private equity firm Carlyle Group. The partnership between Twilio and Syniverse will see both companies enter into a major business partnership that entails a wholesale agreement whereby Syniverse will process, route and deliver application-to-person (A2P) messages originating and/or terminating between Twilio’s customers and mobile network operators. On Syniverse's end of the deal, the company is getting a business boost by providing services for Twilio which is one of the

American Drone Maker Skydio Raises $170M, Valued At $1B+

Skydio, an American startup that makes autonomous drones, has closed a new funding round of $170 million that values it above $1 billion. The round was led by the famous venture capital firm Andreessen Horowitz, with participation from existing backers Next47, IVP, and Linse Capital, plus a new investor UP.Partners. Andreessen Horowitz led the new Series D round for Skydio from its Growth Fund, and with it, Skydio has now raised a total of over $340 million in external funding and then with a $1 billion+ valuation that makes it the highest-valued drone startup in the US. It seems that Skydio has drawn wide investor attraction after the US government placed China's DJI on a blacklist last year. DJI made its mark as the biggest drone maker globally and the largest in the US market but got placed on a government Entity List last year that barred American companies from supplying it with components. The blacklist was instituted by the former Trump administration due to alleged ties to

Carmaker Volvo To Go Fully Electric By 2030

The latest global automaker to commit to transitioning to a fully-electric production output in the future is Swedish carmaker Volvo, which has announced plans to become a fully electric car company by 2030. By then, the company says it intends to have phased out any car in its portfolio with an internal combustion engine, including hybrids, and transition to producing fully electric cars. The announcement of Volvo's grand plan comes a year after the company launched its first fully electric car, the XC40 Recharge , around the globe, and with just one fully electric car in its product portfolio now, it's apparent that the automaker would need to put in hard work to achieve a fully-electric portfolio in nine years time. To work towards its goal, Volvo has announced that it'll roll out 'several' additional electric car models in the coming years, the word several making the number indistinct. The Swedish automaker is aiming for fully electric cars to make up half of

Jay-Z's Tidal Sells To Payments Company Square In $300M Deal

It seems that this is the season of deals for rapper-cum-businessman Shawn "Jay-Z" Carter as just barely two weeks after he reached a deal to sell half of his premium champagne brand to luxury goods giant LVMH, he's reached yet another deal to sell one of his main business ventures, the music streaming app Tidal. Tidal has agreed to be taken over by Square, the payments company led by Jack Dorsey who's more popular for his role as the CEO of Twitter. In a statement , Square said it'll pay the sum of $297 million in a mix of cash and stock to acquire a "significant majority ownership" stake in Tidal leaving the remaining minority stake will be held by Tidal's artist shareholders. The exact percentage that Square is buying in Tidal isn't disclosed but it's definitely over 50% given it's a majority stake. With Square's statement of acquiring a "significant majority ownership", one can guess somewhere between 50%-80% of the com

Smart TV Maker Vizio Files To Go Public

Vizio, a well-known maker of smart TVs and other complementary equipment such as soundbars, has filed an S-1 with the US Securities and Exchange Commission (SEC) for a public listing, seeking to do so for the second time after having previously filed to go public in 2015 but later withdrew its plan in lieu of a $2 billion sale agreement to a Chinese company that unfortunately didn't pan out. The market for technology IPOs has been very hot as of late and it seems that Vizio is coming in at the right time to capitalize on that hotness. A popular maker of smart TVs, Vizio has sold over 80 million TVs and 11 million soundbars since the company's inception, as indicated in its S-1 filing. The company sold 7.1 million TVs in 2020 alone. Vizio has strong revenues and is profitable, reporting $102 million in net income on over $2 billion in revenue in 2020. In the previous year, 2019, Vizio reported a net income of $23 million on $1.8 billion in revenue. Most of Vizio's revenue c

New SPAC Deal: Home Insurance Startup Hippo

Amid a flurry of SPAC mergers as of late, the latest technology company to tap into the boom and reach a deal to merge with a special-purpose acquisition company (SPAC) is Hippo, a home insurance startup that makes use of satellite imagery and smart home sensors to gauge and offer better home insurance policies. Hippo will merge with Reinvent Technology Partners Z (NYSE:RPTZ), a SPAC formed by the respective founders of LinkedIn and gaming company Zynga, Reid Hoffman and Mark Pincus. Hippo will merge with  Reinvent Technology Partners Z in a deal that'll hand it over $230 million of cash held in trust by the SPAC, plus a $550 million PIPE round to be led by existing investors  Dragoneer, Lennar, and Ribbit Capital. The PIPE round will value Hippo at $5 billion. Following the merger's completion, Hippo expects to have $1.2 billion of cash at hand, fueled by the funds from its SPAC deal plus venture funding that it's already raised. A hot insurance startup, Hippo has raised o