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Classified Ads startup Carousell raises $85 million in Series C

  From Left to right - Carousell co-founders Marcus Tan, Lucas Ngoo and co-founder/CEO Quek Siu Rui.                                                                                                                                                                  Image Credit: Carousell Carousell, one of the largest online consumer to consumer marketplace classifieds marketplace operating in South East Asia has raised a whooping $85 million in Series C funding from various investors including Rakuten Ventures and already existing investors Sequoia India and 500 Startups to rapidly expand its product with Artificial Intelligence at the forefront. Carousell which was founded 2012 by its current CEO Quek Siu Rui, Marcus Tan and Lucas Ngoo and operates mainly in more than 6 countries with this round included has now raised a total of  $126. 8 million from a slew of investors to develop its very innovative product. The company has decided it will make use of artificial intelligence

Get Innovaté's profile on Boston Dynamics' SpotMini robot right here

image credit : Boston Dynamics Our brand affiliate/partner and media publisher Innovaté is here with a new feature, This time it features a short but interesting story/walk-through in detail on Boston Dynamics' SpotMini Robot which we recently talked on here and which is also scheduled to get into commercial use from next year. Before we get our hands on them, It's very important that we study them and know a lot of their features in order to flow with them in the best possible way, We're offering that through the Embed publication below: The SpotMini by Innovaté

The "Block 5" Falcon 9 Rocket - A Huge Milestone in Space Exploration

image credit : Inquisitr SpaceX just recently launched a "Block 5" version of its Falcon 9 rocket from the state of Florida carrying a telecom satellite for the nation of Bangladesh into orbit, getting it to a height of about 35,000 km above the earth. But what is the term "Block 5"? Block 5 is the description given by SpaceX for this new version of its Falcon 9 rocket which is designed to take off and land about 10 times without servicing in comparison with the previous versions of the Falcon 9 which had to be serviced and overhauled after one or two trips. CEO Elon Musk has also made a high goal of launching the same rocket to orbit twice on the same day using this powerful model and more improvements which will be made on it. The Block 5 rocket model will now be the main instrument of operation in SpaceX after it has been fully developed to handle so many simultaneous flights making it easier, cheaper and more efficient when delivering items into space

Boston's Atlas Robot has the best of Abilities

                            Image credit : Boston Dynamics Boston Dynamics recently released new awesome footage on one of its robots - The Atlas, The footage below shows the robot having mastered the act of running and jumping displaying its agility and intelligence. The Atlas is described as the World's Most Dynamic Humanoid which makes use of balance and whole-body skills to achieve two-handed mobile manipulation. This robot made by Boston Dynamics, The Softbank owned Robotics company which spun off in 1992 and was formerly owned by Google's X Research arm is capable of performing tasks in large volume with the use of its streamlined 3D printed legs which makes it a very unique robot with a huge strength ratio and making it to complete its tasks with less time and stress. The Atlas will do various tasks every human does like lifting, carrying and manipulating the positions of different objects in both normal and rough conditions with the Robots capable of working

The Model 3 starts delivering to Canada

Image credit: Tesla Tesla's notable mass market but premium looking Sedan, The Tesla Model 3 has started delivering internationally to Canada after sending a massive batch of invites 2 months ago to Canadian residents who made reservations for the electric vehicle. The vehicle will sell for $46,500 CAD in the country with the current Model 3s being equipped with a Long Range battery pack, premium interior package and rear-wheel drive. Tesla has also started taking orders internationally for another version which is The dual motor all-wheel drive and performance version of the vehicle but will start producing these versions in 2 months time. In Ontario, Canada, The Tesla Model 3 carries $14,000 CAD in incentives before purchase which brings down the price to $31,600 for buyers which will greatly increase sales and decrease cost for the consumers. The Model 3 will also come with an $8,000 CAD incentive in the province of Quebec, Canada after being added to the list of vehi

The Uber of scooters just got a whole lot of it!

Bird  Bird, The Electric Scooter ride-sharing service which was founded by a former Uber and Lyft Executive has made huge deals with current Electric Scooter leading company Ninebot and notable chinese electronics maker Xiaomi to make use of its scooters in its ride-hailing services which are currently expanding rapidly. Bird works closely with cities to help make transportation better & more environmentally friendly using its electric scooters which are charged and repaired by independent contractors working in the gig economy space. Bird surprisingly came to Charlotte and Nashville just few days ago but has been required to pause its operations in Nashville currently after its 100 scooters was deemed as obstructing the sidewalks for pedestrians whereas the scooters are meant to use street and bike lanes where cyclists use. The company currently operates in 8 other cities including Los Angeles and San Francisco. Bird which is currently valued at $400 million and

Amazon stops buying Google's Shopping ads

I'm leaving Bro......... photo credit : Insider Monkey Amazon in an effort to grow in the digital advertising space has stopped buying shopping ads from major Internet player Google, This information was revealed to Bloomberg and was also observed by various sources. Amazon's ads which topped Google Shopping are no longer being served leaving the ad space to other major competitors like Walmart and a host of other retailers, These ad space amounts for a huge slice of Google's revenue with Amazon also making a good percent of that. Amazon's new move will affect hugely targeted spots on Google's ads since it leaves a lot of space for other players to grab market share of the ad spots being offered. This also now deepens competition between Amazon and Google, The latter which makes most of its revenue from Digital Ads and is currently the biggest player in the game, Amazon will now try to disrupt digital advertising like it has to many other sectors wh

Didi Chuxing temporarily hurts its carpooling service after passenger incident

Image credit : Time Chinese major ride-hailing player and second largest ride hailing company after Uber has temporarily suspended its car-pooling service due to an incident involving one of its drivers and a passenger who unfortunately was murdered by the driver involved. Didi Chuxing promptly apologized to the family of the passenger involved who was a 21 year old flight attendant and only daughter in her family who was murdered on a journey from Zhengzhou's airport hub to the downtown area of the city. The passenger identified as Ms. Li. used Didi's app Hitch which lets people going to the same destination share rides for a fee but ended up being sadly murdered by the driver using a weapon.  Didi has always used facial recognition technology to identify its drivers for verification but in this case, The facial recognition feature was defective at the time which the driver identified as Liu Zhenhua used an account belonging to his father as he was not registered on D

The Crash Bandicoot N Sane Trilogy comes to other platforms June 29

Get Ready and Excited! because Crash Bandicoot N Sane Trilogy which was scheduled to launch on other platforms on the 11th of July has been moved 12 days foward to the 29th of next month. Get ready to make history, the Crash Bandicoot N. Sane Trilogy comes to new platforms on June 29! pic.twitter.com/LFZTDoP5fd — Crash Bandicoot (@CrashBandicoot) May 10, 2018 Crash Bandicoot which has always been associated with the Playstation brand only is now coming to the Nintendo Switch, Xbox One and Steam. The game was launched on the PS4 last year and has sold 2.5 Million Copies On the platform so its slated to greatly increase sales and reach other consumers through this new launch on other gaming platforms. This new launch date is exactly one year after its last year's PS4 release on the 30th of June last year and will bring one of the best games in the world along Crush, Dingodile, Aku Aku and many more of them awesome players!

Peloton rides to U.K. and Canada

Peloton Peloton, The innovative exercise equipment company which produces sleek exercise bikes which streams live exercises and features connected programming which has become a favorite amongst a whole lot of fitness enthusiasts has announced its coming to two more countries - The U.K.  and Canada after awesome reception and huge sales in the U.S. Hey UK! We’re coming to London this autumn—get ready for the #onepeloton experience. Details here: https://t.co/cZJ28OMMjU pic.twitter.com/Ve9bUJRPgl — Peloton (@onepeloton) May 10, 2018 The company will start selling its Peloton bike which brings an immersive cycling experience for $1,995 and comes with a monthly charge of $39 per month for access of its digital classes and unlocking of the best experience of the bike. Peloton The company will other push into more European countries next year offering its bikes and also its treadmill which will start shipping this fall in the United States and is also expected to ship to

Xiaomi finally comes to the U.S. but with only its Smart Home devices

Xiaomi Xiaomi, The Huge electronics device maker which had over a whooping $15 Billion + revenue last year is heading to the U.S. bringing its smart home devices which will be Google Assistant enabled, This was publicly made known by the company's Head of International Wan Xiang in a recent tweet; Xiaomi just announced during #io8 that our smart home products will work with the Google Assistant. The initial selection of compatible products includes Mi Bedside Lamp, Mi LED Smart Bulb and Mi Smart Plug, which will be coming to the U.S soon! https://t.co/f65lj2jNej pic.twitter.com/nEXMiIyyZ8 — Wang Xiang (@XiangW_) May 10, 2018 It was announced at Google's most recent conference and annual festival for developers from all around the world which currently holds at the Shoreline Amphitheatre, Mountain View, California. Based on the tweet, The devices which will be released in the U.S. are the Mi Bedside Lamp, Mi LED Smart Bulb and the Mi smart plug. The Mi bedside lamp

Dropbox nailed its first quarter as a public company

Dropbox co-founder/CEO Drew Houston image credit : Flickr via CC License File storage company Dropbox beat analyst expectations with the company having Q1 revenues of $316.3 million as opposed to a figure of $309.2 million expected from various analysts. The company now has 11.5 million paying subscribers which is 2.2 million more than what was recorded the previous year. The company also expects over a whooping $1.3 Billion in revenue for this year and over $328 million in revenue for the second quarter. This revenue was 28% more than that recorded the previous year. Dropbox has a huge number of enterprise customers and good features which enable the company to store files in the best way thereby delivering the best type of service to customers and individual users alike. Despite this revenue beat, The company' stock didn't jump as expected but fell 5% probably due to its GAAP gross margin of 61.9% as opposed to the previous year's 62.3% but Dropbox CEO D

Internet beat TV advertising last year

Online advertising grew to a record rate yet last year, A whooping $88 Billion was spent on online advertising which was a record $17 Billion more than what was spent on the huge TV advertising industry last year, This was 21% more than what was recorded in 2017. Out of this figure, $49.9 Billion was spent on mobile advertising which represents how huge and important the sector has become in the consumer space with mobile video hitting a huge $6.2 Billion spend in 2017 out of a total of $11.9 Billion spent in the whole Digital Video industry. This data was brought by The Internet Advertising Bureau in a report they recently published. Search advertising revenue took a huge share of $40.6 Billion, Digital audio grabbing a huge $1.6 Billion from the spend, Digital video taking $11.9 Billion and Social Media grabbing a huge $22.2 Billion from the total spend. This huge growth in online advertising represents a huge influx of new players into the space majorly made up of small bu

Which Tech guys made the "Most Powerful" List

Forbes just recently released its list of the world's most powerful people and we had to study the list to fish out what we love - Technology! We had to check for the Tech dudes on the list and guess what? There are many of them, The C.E.O's of the world's largest tech companies made the list, Other influential tech tycoons who don't even head their companies anymore made the list, Let's take a walk-through through the list starting from the top - Starting at No 5 is Amazon C.E.O and founder Jeff Bezos:                                     Image credit : Insider Monkey He takes the highest position in Technology only being surpassed by the Heads of nations of China, Russia, U.S. and Germany respectively, Jeff Bezos has spearheaded the huge growth of what Forbes describes as an e-commerce Colossus - Amazon which he founded in a garage 24 years ago, Amazon now has a market valuation of over $780 Billion and with Jeff Bezos as C.E.O is poised for hug growth i

All the winners from The Walmart-Flipkart Deal

Image credit: Flipkart We recently profiled Walmart's majority acqusition of Flipkart right here on The Techie but just some moments after we want to go into detail about which company/who made a killing from this Walmart sale. Prior to this major acquisition, Flipkart had raised $7.3 Billion total from Investors and had made 10 acquisitions, include its previous big round of a $1 Billion financing from Softbank and its raising of huge amounts of cash in loans from various Indian banks, It had a number of 21 major investors including Tencent, eBay,  Microsoft, Softbank, Tiger Global, South African based Naspers and a host of other investors. Starting with co-founder Sachin Bansal who sold his entire stake for approximately $1 Billion but will have to pay 20% personal gains tax in his home country India will end up walking away with about $800 million, He apparently sold his entire stake because Walmart only wanted one founder on Flipkart's Board, He also stated via a Fac

Buy at Amazon, Install at Sears

Sears, The American chain of department stores which had been taking a dive recently due to store closes and tumbling stocks has announced a partnership with e-commerce giant Amazon which will now see customers across the U.S order tires via Amazon and get them installed at the nearest Sears Auto Center. This partnership encompasses all tire brands including Sears' own brand DieHard, On this news, Sears stock increased in value by a whooping 20%. This shows the huge value of e-commerce businesses in the consumer space today, This huge increase in value is based on investor expectations that this partnership will hugely increase revenue for Sears which has suffered year-on-year revenue decrease up until now. This program will first launch in 47 of its Auto centers with expansion later coming to the entire 400 Auto centers across the U.S. Customers will pay a standard fee for the installation of their tires, Sears already has about 2,100 technicians currently for the perf

Walmart finalizes $16 Billion Flipkart Deal representing e-commerce' largest

After loads of predictions, expectations and speculation, Walmart has confirmed its acquisition of 77% of Indian e-commerce giant Flipkart for a huge $16 Billion giving the company a valuation of over $20 Billion. This huge deal eclipses the previous record set in the e-commerce industry by a multiple of almost 5 which was PetSmart's acquisition of Chewy.com for $3.35 Billion April last year and also marking Walmart's largest acquisition in both the e-commerce and Brick-and-Mortar space even after the company previously acquired Jet.com for a huge $3.3 Billion. The U.S based Walmart purchased all of the company's shares held by its co-founder Sachin Bansal with him selling his entire 5.5% stake pocketing $800 million from the deal after paying 20% tax on the approximately $1 Billion he's pocketing from the deal, Co-founder Binny Bansal will retain a stake in the company along with Softbank, US based hedge fund Tiger Global, South African Internet giant Naspers an

Job Site Glassdoor sold for $1.2 Billion to Japan's Recruit

 Image credit : Chicago Tribune In what has come across as one of the largest tech deals in the year 2018, Glassdoor, The webite noted for its feature of company management reviews by its employees or ex-employees is now joining Japan's Recruit Holdings after its acquisition by the company for $1.2 Billion closes soon. The company which started 11 years ago and is currently one of the largest job sites in the world announced recently that its being acquired by Japan's Recruit; The Japanese $39 Billion conglomerate which has acquired so many other start-ups in the human resources space including Indeed.com, Quipper and Workopolis. This acquisition is intended to greatly expand Recruit's move into the US Market and also to put in more resources to make Glassdoor grow bigger. The company was co-founded by Robert Hohman, Rich Barton and Tim Besse, Rich Barton who is also notable for co-founding $7B+ real estate company Zillow and Internet travel giant Expedia. He pos

Uber and NASA partner to make its flying cars very safe

Uber and NASA just yersteday announced their partnership/collaboration for the goal of bringing flying taxis to urban areas. NASA which has been unveiled previously as Uber's partner in its development of electric flying cars and air traffic management software for its fleet has now picked up plans of organizing a ride-sharing network with Uber, all these was revealed at Uber Elevate which holds from the 8th to the 9th of May in Los Angeles. The Flying cars will be produced by a number of Aerospace companies which include aviation startup Aurora Flight Sciences, Karem, Bell Helicopter, Pipistrel Vertical Solutions and major industry player Embraer. The companies have all unveiled concepts of the flying cars to be produced for Uber's program. The concepts feature four propellers around the flying vehicle which allows it to take off and land like a helicopter making use of VTOL technology. The aircraft will shuttle a maximum of four passengers sitting at the middle a

The Linksys router which prioritizes Xbox one gaming is out!

image credit : Linksys After unveiling its new product at this year's 'Consumer Electronics Show' Linksys has finally released its anticipated gaming router - The WRT32XB, It's now the first device to specifically offer its routing ability to detect the Xbox One and place it above other devices connected to any Wifi network in order to heavily speed up gaming. Linksys has also made it known that while this device was mainly intended for use on the Xbox, A software update will be rolled out soon which will make the device start to place all gaming devices and not just the Xbox above all other gadgets on its network. It comes with a Custom-Built firmware and user interface, Promotes simultaneous high-speed data processing and Ensures maximum signal strength with its 4 high perfomance antennas. The WRT32XB also gives you high power Next-Generation AC WiFi speeds of up to a whooping 3.2 Gbps that keeps the users at the front-line of their game. It's also

Drive.ai Rides To Texas

    Drive.ai Drive.ai, The Silicon Valley startup which makes use of deep learning to develop software for autonomous cars is preparing to launch its self driving car program in Frisco, Texas, A program that will transport Texans to different locations for free. Drive.ai is launching this program after just beginning 3 years ago when the company was put together by researchers coming out of Stanford University's AI lab, This new program is the first autonomous ride hailing program to fully launch in Texas after the State has witnessed so many test programs but not a fully public one. The company will offer its rides to over 10,000 people in Level 4 autonomous cars moving between Shops, Offices and restaurants over the program's 6 months period.     Drive.ai Drive.ai will also kick off its program on dishing out information to the public about the technology enabling its self-driving vans to perform its function and also gain feedback from customers to find out wha

DJI and Microsoft vastly improves Drone's abilities

    image credit : Pixabay Via CC License Microsoft Event Build 2018   kicked off today! at  The Washington State Convention Center On just the first day, The company has made a huge swath of announcements, statistics, new products and partnerships and one of these announcements which very well stands out is new partnership with the world's leading drone maker DJI to develop smarter drones for the enterprise market. The two companies will work on a new Software Development Kit (SDK) which will enable developers to build both full flight control and live data transfer capabilities into machines running Windows 10. This new software kit will enable easy integration for third party hardware with DJI's drones which will greatly expand its abilities. This partnership will also see DJI get to use Microsoft Azure and its AI products as its commercial cloud provider and for the analysis and interpretation of aerial footage respectively. Roger Luo, DJI's Presid

Today in Tech Deals

Well we all love good stuff, good deals and good products, Mothers Day celebration comes up in 6 days time and we are all participating in showing love to all amazing mothers out there. There are plenty of stuff to buy, Plenty of stuff different mothers we love, We know the mothers who love Smartphones, Smartwatches, VR headsets and all other devices are out there, Right here we pick out the best recent deals where you purchase stuff at a huge discount for both our mothers and also every amazing person out there. Here they are in different categories; Audio In the Audio category, everyone out there surely loves discounted and amazing Headsets, Speakers and all other Audio-based devices, Here are the best audio products to buy right now: The Tribit XSound Go Portable Bluetooth Speaker is $64 OFF right now and selling for $35.99 The  HOPDAY U8 In-Ear Bluetooth Earbuds has been discounted by $77 and is selling for $22.99 The  iJoy Matte Finish Premium Headphones is

Lyft rolls into Las Vegas with its self driving cars

image credit: Lyft Mega Ride hailing behemoth and also super Uber competitor Lyft has recently rolled into Las Vegas with 30 of its self driving cars after starting to do that in the city of Boston since last year. This was done in partnerhsip with Aptiv, The global automotive technology company which has increased in presence in automotive innovation through the recent acquisition of MIT spin-off Autonomous software company nuTonomy, Aptiv will work with the autonomous cars while operating them under the Lyft ride-hailing network, Customers will gain access to these cars thorugh the Lyft app like they do for other rides easily. The vehicle being used in this case is the BMW 5 Series which will now transport users from the Las Vegas Convention Center to various places in the city. The companies plan to fully kick-off this new program somewhere between July and August, Aptiv will also partner with the city of Las Vegas to work on automotive programming and mobility to greatly

Jeff Bezos and the puppy

Jeff Bezos, CEO and founder of Amazon Inc surely has a lot of medals in his collection and recently has gotten another one - He did this by saving a puppy which was stolen by a driver working for an independent courier service which Amazon uses to deliver its goods. Recently in England, A businessman by name Richard Guttfield who runs a printing business ordered for dog food via the online shopping company for his puppy, The package arrived as soon as possible but what next? After the dog food was delivered, The puppy was gone, His lovely pet was stolen. In response, He sounded an Alarm to popular UK newspaper 'The Sun' and also contacted Amazon itself but the issue was not followed up, Then he took a step in contacting Amazon CEO Jeff Bezos whose e-mail address is famously known as [email protected], After this the issue was picked up immediately due to efforts by Jeff Bezos to continuously satisfy every customer. The Amazon van carrying the puppy was immediately track

The Techie interacts with diversity!

Diversity Diversity has always been a continuous issue, specifically in tech, Women have not found it easy to integrate with the system, Some give up on it entirely because they feel it's the boys club, But everyday it's changing, Things are drastically improving by the days and The Techie's production team is here to celebrate this improvement by producing interactive content on this, Walkthrough our interactive piece below, You will surely find it amazing! Diversity by The Techie

Waymo's self driving vehicle involved in Arizona car crash

image credit: abc15 Arizona Early yesterday, One of Waymo's self driving vehicle was involved in a car crash in the state of Arizona, The US state very open to self driving car testing and also the same where ride hailing company Uber's self driving vehicle was recently involved in a collision too. But there might be a catch to this, The vehicle although having full autonomous capabilities at the current time of accident had a driver operating the car even though the car was moving in autonomous mode. The Waymo vehicle was was struck by Honda Sedan which was in the process of suddenly changing direction in order to avoid another on-coming vehicle and then strayed into the opposite lane colliding with the Waymo vehicle in the process. The accident was pretty serious with the Honda Sedan's glass broken and the front part of the vehicle seriously wrecked, The Waymo vehicle was also badly damaged although it was not as damaged as the Honda Sedan, The people involved i

UBTECH Robotics has raised $820 million in funding at a $5 Billion valuation (News/Review)

UBTECH'S Cruzr Humanoid Robot image credit : UBTECH AI/Robotics company UBTECH which was founded 6 years ago with the aim of integrating 'intelligent robots into the daily lives of everyone in order to create a smarter way of life has raised a whooping $820 million; Capital to grow its leadership in the intelligent service robot industry and to put more funds into Research and Development to heavily improve on its already very intelligent and hugely innovative products. On this round of funding, It should be noted that UBTECH has now surpassed AI startup Sensetime as the worlds most valuable AI startup by a gap of over $400 million. Let's take a walk-through on UBTECH's products which we term as "Hugely effective, innovative and awesomely efficient" ; The company has released a swath of products which include The Lynx, The Alpha, The Jimu and The Cruzr, The company has also partnered with Disney with the release of The Stormtrooper, The company i

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Pokémon Go Creator Niantic Raises $300M, Valued At $9B

Niantic , an augmented reality (AR) company whose products include the famous  Pokémon Go game, has raised a big new round of funding. It's raised $300mn in funding at a valuation of $9bn. All the funding came from just one investor; Coatue , a New York-based hedge fund famous for investing in many blue-chip tech startups. With its new funding, Niantic says it'll invest in current games and new apps and expand its AR developer platform called Lightship . The company says it's set on building the "real-world metaverse," jumping on the bandwagon popularized by Facebook's parent firm, Meta.  The base for Niantic's metaverse vision is the Lightship developer platform which it launched this month. It's a platform for developers to build augmented reality apps and experiences, drawing from Niantic's tools that helped create its hit  Pokémon Go game. To draw creators to Lightship, Niantic has also set up a $20mn venture fund to invest in AR startups

Deal: Workday Buys Ohio Startup Vndly For $510M

Workday (NASDAQ: WDAY), the famous HR/finance software vendor, has made a big new acquisition to support its platform. The company will acquire Vndly , a software platform for companies to manage contract workers. Vndly fits in well in Workday's overall software suite, and the rationale behind the purchase is clear. Vndly is an Ohio-based startup. Workday will pay $510mn to buy it, marking one of Ohio's biggest startup exits this year. Vndly has raised roughly $60mn from VCs, so a $510mn exit is very lucrative and more so for a startup founded just four years ago .  Before now, Vndly and Workday were already close allies. Vndly's platform is integrated with Workday's, with official certification to go. The Mason, Ohio-based startup is part of Workday's global network of endorsed software partners, so Workday didn't even have to look far to snatch its latest acquisition.  Vndly was founded in 2017 by two entrepreneurs,  Shashank Saxena and Narayana Surabhi .

Amazon, Apple Fined $230M For Reseller Collusion In Italy

Tech giants Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL) have been handed sizeable fines by the Italian government following an investigation into alleged reseller collusion between both companies. Amazon was fined €135mn ($151mn) and Apple  €69mn ($78mn), totaling $229mn .  The fine was levied by the  Italian Competition Authority . According to the agency, Apple and Amazon had a contractual agreement to allow  select resellers to sell Apple and Beats products on Amazon's Italian marketplace. The agency said that the selection was applied in a "discriminatory" way that violated European Union rules and affected price competition. According to the  Italian Competition Authority, at least 70% of local consumer electronics purchases are made on Amazon, making it a dominant retailer. This dominance, therefore, demands a "level playing field" for retailers that sell on Amazon's marketplace, the agency said. This is the nth time Amazon is getting in the cr

Alt-Meat Maker Impossible Foods Raises $500M In Fresh Funding

A leading maker of plant-based meat substitutes, Impossible Foods , has obtained a fresh cash infusion from VCs. It has  raised $500mn in new funding, bringing the total amount of funding it has raised since inception to $2bn.  The latest round was provided entirely by existing investors doubling down on Impossible Foods.  Mirae Asset Global , a Korean investment firm, led the round and was joined by other unnamed existing investors.  It's evident that investors are longing for Impossible Foods, a leading brand in the nascent market for plant-based meat substitutes. There's clearly huge potential for plant-based meat substitutes, driven by an increasing vegan population and the appeal to lower the carbon footprint that spurs from meat consumption. To that end, Impossible Foods is growing rapidly. Its products can now be found in more than 20,000 retail stores, compared to 150 as of March 2020, and 40,000 restaurants globally. Over the past year, Impossible has launched in ne

Antitrust: US DOJ Sues To Block Major Sugar Industry Merger

The U.S. Department of Justice (DOJ) is freshly on the antitrust circuit, seeking to block a merger it deems detrimental to consumers. The agency has filed a lawsuit to block the sale of  Imperial Sugar , a leading American sugar producer, to rival  U.S. Sugar . The DOJ says the proposed deal will make just two sugar producers account for an "overwhelming majority" of refined sugar sales in the U.S. Southeast, U.S. Sugar being one of the two producers. This concentration of power would make consumers pay more for refined sugar, the DOJ says.  Imperial Sugar is owned by Louis Dreyfus Company, a privately-held agricultural giant based in the Netherlands. The company agreed to sell Imperial to rival U.S. Sugar for the sum of $315mn this March.  U.S. Sugar is another privately-held agricultural giant headquartered in Florida. It can produce up to 850,000 tons of sugar annually at its refinery plant in Florida, and buying Imperial would give it two more sugar plants in Kentuc

Deal: KKR Makes $37B Buyout Offer For Telecom Italia

Private equity giant KKR (NYSE: KKR) has ventured into Italy for its latest buyout deal. The firm has offered to buy Telecom Italia (BIT: TIT), the largest telecom provider in Italy, in a deal worth  €33bn ($37bn), including debt. KKR offered 0.505 Euros in cash for each outstanding  Telecom Italia share, a 46% premium to the last closing share price before the offer. That sums up to  €10.7bn ($12bn) in cash to be paid for Telecom Italia, and including the telecom firm's large net debt of €22.5bn ($25bn) sums up to $37bn in total.  KKR's offer is non-binding and must be approved by Telecom Italia's board members and majority shareholders before the deal goes through. Approval must also come from the Italian government, which was veto power over the takeover of the formerly state-owned telecoms firm.  Telecom Italia gave no indication that it'll approve the deal. If approval is given, it'll mark one of the biggest buyout deals of a European company by an America

Cyber: Apple Sues NSO Group Over Spyware Hacks

Tech giant Apple (NASDAQ: AAPL) has filed a lawsuit against NSO Group , a controversial Israeli company that sells smartphone hacking tools and has been  implicated in the hacks and surveillance of many notable persons, including journalists, activists, and business executives, by state-sponsored actors. Apple has sued NSO Group for infecting iPhones with spyware to track users of interest. As part of the suit, the tech giant seeks a permanent injunction to ban NSO Group from using any Apple products. NSO Group is best known for its Pegasus spyware that can be covertly installed on mobile phones running most versions of iOS and Android. The company exploits vulnerabilities in both operating systems to introduce spyware into a phone without the user's knowledge. Pegasus was the center of a Washington Post investigation called "The Pegasus Project," revealing that the spyware was used to surveil over 1,000 identified notable individuals across countries with shoddy hu

Markets: Retail Giant Authentic Brands Scraps IPO Plans

Authentic Brands Group , a New York-based retail conglomerate, has suspended its plans for an initial public offering (IPO) after already filing an S-1 document with the US SEC. The company has instead opted to raise private funding to fund expansion in the main time. Authentic Brands Group's portfolio retail brands include apparel retailer Forever21 , men's suit maker Brooks Brothers , and department store chain Barneys New York . The company is akin to an old people's home where once-vibrant retail brands go to stay after they've gone past their peak. Authentic buys these befallen retail companies and makes money from what's left of them through licensing deals.  Over the years, Authentic has relied on hefty venture funding to assemble its constellation of old-guard brands. An IPO was supposed to raise even more money for expansion but has been set aside in favor of private funding.  Authentic is  rather selling  equity stakes to private equity firm CVC Capital

Markets: IoT Startup Samsara Files For IPO

The latest tech startup to board the IPO train is Samsara , a VC-backed startup that makes internet-of-things (IoT)-based fleet monitoring hardware and software for logistical operators. It has unveiled an S-1 filing with the US SEC, showing its intention to list on the New York Stock Exchange (NYSE). Samsara has raised nearly $1bn from VCs including Andreessen Horowitz, Tiger Global, and General Catalyst, with a valuation of $5.4bn from its last funding round. The company's co-founders sold a previous startup named Meraki to Cisco for $1.2bn . As expected, Samsara's S-1 filing gives a deep glimpse into the company's business with information not publicly disclosed before. The company has been rather secretive over the years, making this long-awaited information. We've extracted some important information so you don't have to, mostly the financial stuff. Samsara brought in $303mn in revenue in the nine months ended October 2021, compared to $174mn in the same

Earnings: Nvidia Is On A Tear

Chipmaking giant Nvidia (NASDAQ: NVDA) has unveiled the financial results for its latest fiscal quarter ended October 31, 2021. The company reported a sharp rise in sales that can only be described as being on a tear. Nvidia posted $7.1bn in revenue in the quarter, up 50% year-over-year . The large growth was driven mostly by the company's data center sales, which increased 55% year-over-year to $2.9bn. Similarly, Nvidia's gaming revenue rose 42% year-over-year to $3.2bn. Net income for the quarter was $2.5bn , up 4% from the same period last year. It was an outstanding quarter all-around for Nvidia, a beneficiary of the recent massive growth of the gaming industry and data center boom. Nvidia's GeForce graphics cards are very popular with gamers, and data center operators patronize Nvidia's high-performance graphics processors for artificial intelligence applications.  Save for data centers and gaming, Nvidia has other minor product lines, including automotive chip