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Uber Reportedly Set To Announce $3.1 Billion Careem Acquisition

Uber CEO Dara Khosrowshahi Photo: picture alliance / Andreas Gebert | Verwendung weltweit According to Bloomberg , Uber is set to announce an acquisition of Middle East rival Careem in a deal worth $3.1 billion: $1.4 billion in cash and $1.7 billion in convertible notes. It says the notes would be convertible into Uber shares at $55 a pop, ahead of its IPO. If announced officially, this would mark one of the most notable and biggest tech acquisitions this year. Uber was reportedly in talks to acquire Careem as early as September last year. It was also said to be looking towards an acquisition of U.K.'s Deliveroo. As an initial public offering (IPO) nears, the San Francisco based company might be looking to solidify its global presence to keep momentum in the public markets, amid losses . (Far right) - Kingdom Holdings CEO Al-Waleed bin Talal. Kingdom Holdings is a big investor in Careem, having co-led a $200 million round for the company in October. It also acquir

Pinterest To Spend $750 Million On AWS Through 2023

image: Pinterest Pinterest's recent S-1 filing for an IPO revealed it booked some $760 million in revenue last year and also made some other previously unknown stats about the company known. Among those stats is a cloud deal with Amazon Web Services - worth $750 million - through July 2023. The company has already spent approximately $300 million on AWS beginning May 2017, with $441 million still committed for this purpose. Not only Pinterest is involved in such deal. Lyft - expected to IPO soon - also revealed it planned to spend $300 million on AWS through 2021 in its S-1 filing . Many other notable names like Zillow, Uber, Snap, Peloton, Slack, Workday, Capital One, Expedia, Atlassian, Unilever, Intercom, Monzo, Epic Games, Tradeshift, ShareChat and Daniel Wellington also use AWS. image: Pinterest It's no surprise that Amazon's cloud unit booked $25.7 billion in revenue last year. Since its official launch in 2006, AWS has grown rapidly and set itself at

Samsung Develops 8GB, 10nm-Class DDR4 DRAM

image: Samsung Samsung recently announced  it has developed a "3rd-generation 10-nanometer-class (1z-nm) eight-gigabit (Gb) Double Data Rate 4 (DDR4) DRAM", one it says is a first in the industry. This comes 16 months after it began mass producing the 2nd-generation version. If that sounds complex, 10nm-class represents 10-19nm, and the advanced chips make for good use in the production of servers and high-end PCs. Mass production of the new Dynamic random-access memory (DRAM) will kick off in the second half of this year. Samsung says it'll "accommodate next-generation enterprise servers and high-end PCs expected to be launched in 2020".  The Korean tech giant also says it'll be collaborating with - unspecified - global customers to deliver upcoming memory solutions "following a full validation with a CPU manufacturer for eight-gigabyte (GB) DDR4 modules". image: Samsung Samsung, a leader in advanced memory tech is also known for a r

Mercedes-Benz Unveils The New GLC Coupé

image: Mercedes-Benz Mercedes-Benz has unveiled the new GLC Coupé, adding features like a new engine line-up, enhanced driver assistance systems and the latest build of the MBUX Mercedes-Benz User Experience infotainment system. The driver assistance systems now come with an e xit-warning function , emergency-corridor function and tail-end-of-traffic-jam function , among other new ones in the new GLC Coupé. Some features of the new vehicle include: LED headlamps/taillamps  A multifunctional touchpad for operation A 360° camera A choice of four-cylinder petrol and diesel engines image: Mercedes-Benz Compared by styling and exterior design, the new GLC Coupé is very similar to the previous version, with almost no change in this area. The difference lies in its larger display system (1920 x 720 pixels central screen) and the new driver assistance features. It'll make a debut at the New York International Auto Show next month and go on sale later this year.

Mercedes-Benz eSprinter Completes Final Test In Arctic Conditions

Mercedes-Benz eSprinter image: Mercedes-Benz The Mercedes-Benz eSprinter, a new electric van currently in the works by the company has undergone final tests at under Artic conditions in Sweden's Arjeplog, a popular winter test site for Asian and European car manufacturers. The new electric van is scheduled for market launch in the second half of this year. Mercedes-Benz has also released previously unknown specs for the eSprinter. They include: Fast-charging function (able to recharge around 80% of full energy in 30 minutes) 150 km range (when configured with 55kWh battery capacity), 100km range configuration also available 3500 kg gross vehicle weight 10.5 m³ maximum load volume 85 kW output and a torque figure of up to 300 Newton metres Maximum payload of 900 kg (for 55 kWh battery capacity) and maximum payload of 1,040 kg (for "second battery option" of 41 kWh) Mercedes-Benz eSprinter image: Mercedes-Benz Testing for the eSprinter include

Pinterest Booked $760 Million Revenue Last Year

GIF: Pinterest IPO contender Pinterest has officially made its S-1 filing for an IPO, revealing some details not previously known about the company. According to its IPO prospectus, It booked $755.9 million in 2018 revenue amid a net loss of $63 million, compared to $472 million revenue and a $130 million loss in 2017 and $299 million in revenue and a $182 million loss in 2016. This stats indicates increasing revenue at over 50% yearly and decreasing net losses over the same period. Other notable stats revealed by Pinterest include: 250 million monthly active users (as of December 31, 2018)  4 billion total boards created (as of December 31, 2018) 2 billion+ monthly searches on its service 175 billion total pins saved (as of December 31, 2018) image: Pinterest The filing also revealed the company's executive pay, indicating CEO Ben Silbermann earned a base salary of $197,100 while CFO Todd Morgenfeld earned a base salary of $360,500 with stock awards worth som

GM To Invest $300 Million For New Chevy EV

image: General Motors General Motors has announced it's investing $300 million in one of its assembly plants to produce a new Chevrolet electric vehicle, that it says will add 400 jobs to the facility where it's manufactured. This is part of the company's commitment to put in $1.8 billion - and create 700 new jobs and support 28,000 jobs across six states - in US manufacturing operations. The Orion Township, Michigan, assembly plant that it's investing in currently builds the Chevrolet Bolt EV, Chevrolet Sonic and Cruise self-driving vehicles. The new Chevrolet EV will be based on "an advanced version" of the same vehicle platform as the Bolt EV. GM's announcement comes on the heels of a recent announcement by GM that the Cadillac brand will be its first to get electric vehicles based on a platform to be released in future time. image: General Motors In addition to the new 400 jobs at the Orion plant, GM is in the process of adding 1,000 jobs

Rent The Runway Raises $125 Million, At $1 Billion Valuation

Rent the Runway co-founder and CEO Jennifer Hyman image: Rent the Runway New York based clothing rental startup Rent the Runway has raised $125 million in funding co-led by Franklin Templeton Investments and Bain Capital Ventures, with participation from all existing lead investors, T. Rowe Price and Hamilton Lane Advisors. This round brings the total raised by the company to approximately $337 million and values it at $1 billion. With this investment, Franklin Templeton portfolio manager Sara Araghi has been appointed to Rent the Runway's board, joining as the fifth female board member at the female-led company. The company says the new funding will enable it to accelerate subscription growth, infrastructure and broaden assortment and category offerings. A Rent the Runway clothing gets scanned digitally image: Rent the Runway “Shared, dynamic ownership is a movement that Rent the Runway has pioneered over the last decade and we’re excited to continue to lead

Volvo Outs In-Car Cameras To Tackle Unsafe Driving

image: Volvo Volvo has unveiled new in-car cameras that it says will help tackle drunk and distracted driving in its vehicles. These cameras will see its debut on Volvo vehicles early next year. Volvo says the in-car cameras in conjuction with other sensors will allow the car to intervene if "a clearly intoxicated or distracted driver does not respond to warning signals and is risking an accident involving serious injury or death". The vehicle's intervention could involve limiting speed, alerting the Volvo on Call assistance service, and actively slowing down and safely parking the car as a final course of action. Examples of situations where the camera comes into effect include a complete lack of steering input for long periods, drivers who are detected to have their eyes off the road, extreme lane weaving and slow reaction times. image: Volvo Details on the exact amount of cameras and their positioning in the interior of Volvo vehicles will be revealed lat

Volvo Debuts Speed-Limit Setting Key

Volvo Care Key image: Volvo Following Volvo's move to set a 180km/h top speed limit on all its vehicles beginning 2020, Volvo has unveiled the Care Key , a device that allows users of its vehicles to set a speed limit for themselves, family members or friends. The Care Key will become standard on all its vehicles beginning 2021. The device lets Volvo drivers set limitations on their car's top speed before use, or lending to acquaintances, tackling the issue of over-speeding on roads. In addition to capping speed, Volvo says it's currently courting insurance companies in several markets "to conversations" to offer favorable, special insurance packages to drivers using its safety features. The Volvo S60L PPHEV (petrol plug-in hybrid electric vehicle) concept image: Volvo Volvo says it expects to announce the first of such agreements with national insurance firms soon. “We believe that a car maker has a responsibility to help improve traffic sa

Apple Updates The AirPods

image: Apple Just after debuting two new iPads and updating the iMac , Apple has unveiled a new version of the AirPods, the world's most popular wireless headphones, adding a new Apple-designed H1 chip, a wireless charging case and support for Siri. The Apple-designed H1 chip allows up to 50% more talk-time compared to the current AirPods, and enables two times faster connection times, making switching between devices while listening to music more speedy. Featuring the convenience of “Hey Siri” for the first time, users can also now change songs, make calls, adjust the volume or get directions by voice command. A woman wears the new Apple AirPods image: Apple The wireless charging case is optional, with a standard charging case also available. Each case holds additional charges for 24 hours worth of listening time. The new AirPods also features an LED light indicator that displays its charge status with a glance. Existing AirPod owners can also purchase the wirel

Oculus Launches The Rift S

Oculus Rift S image: Oculus Oculus has unveiled the Rift S - a new $400 VR headset that succeeds the current Oculus Rift. The new virtual reality headset was designed in partnership with Lenovo, drawing on the Chinese tech giant's experience in the VR and AR space, and feedback from the Lenovo Legion community of gamers. Oculus says the Rift S was designed for "increased comfort, better weight distribution, and improved light blocking, as well as a simple, single-cable system for a clutter-free experience". The Rift S features the same audio system as the Oculus Quest and Oculus Go headsets and also comes with inside-out tracking technology (Oculus Insight) just like the Oculus Quest. Other features of the Rift S include a headphone jack and Oculus Touch controllers. The new VR headset is powered by the user's PC, just like the Oculus Rift. It'll launch in Spring 2019. More New Releases : HP Debuts New VR Headset Nvidia Debuts $100 AI Com

Doctolib Raises $170 Million At $1.1 Billion Valuation

image: Doctolib Doctolib - a French startup what provides doctors and hospitals with software solutions for medical processes - has raised €150 million ($170 million) in new funding led by General Atlantic, several existing investors: Accel. Kernel, Eurazeo and Bpifrance, and several unspecified German healthcare entrepreneurs. This round values the 2013 founded company at more than €1 Billion ($1.13 billion). Five years after its founding, Doctolib has grown to be a leading e-health service in Europe and says it receives 30 million online visits from patients every month. The company currently employs 750 people, with offices in 40 cities across France and Germany. Doctolib co-founder and CEO Stanislas Niox-Chateau image: Doctolib With this funding, Doctolib says it'll double the size of its team in the next three years, roll out its tele-health service to its community of 75,000 physicians and 1,400 healthcare facilities in France and Germany, double its investm

HP Debuts New VR Headset

HP Reverb image: HP At the HP Reinvent conference, HP unveiled a new VR headset - the Reverb , a new "grounds-up designed" headset with twice the resolution, two-thirds the weight and half the cost of of the preceding HP Mixed Reality VR Headset. With the debut of this new headset, HP says it worked on a device that addresses three pain points commonly associated with VR headsets: visual quality, comfort and worry-free deployment and support. Weighing just 1.1. pounds, features of the HP Reverb include: 2160 x 2160 display  114-degree field of view Integrated headphones Dual microphones Pre-paired motion controllers Windows Mixed Reality and Steam VR support Bluetooth connectivity Removable, cleanable facemask cushions HP Reverb image: HP HP Reverb image: HP The new headset comes in two versions: a Consumer Edition and Pro Edition. Set for availability in April, they'll go for $600 and $650 respectively. The Pro edition comes with

Nvidia Debuts $100 AI Computer

Nvidia Jetson Nano image: Nvidia Nvidia has unveiled the Jetson Nano, a new $100 AI computer that delivers 472 GFLOPS of computing performance for running AI workloads, and is power-efficient, consuming as little as 5 watts. Nvidia CEO Jensen Huang unveiled the device at the on-going GPU Technology Conference, where the company also announced a self-driving collaboration with Toyota. The Jetson Nano actually comes in two versions - a $100 devkit for developers and a $130 production ready module for companies looking to utilize it to create mass-market systems. Nvidia says it can run several neural networks on each sensor stream, process many sensors in parallel and support high-resolution sensors and many popular AI frameworks. Nvidia Jetson Nano (in use) image: Nvidia Specs of the AI device includes: Linux for Tegra - OS Support Gigabit Ethernet connectivity 4 GB 64-bit LPDDR4 memory Quad-core ARM A57 CPU  128-core Nvidia Maxwell architecture-based GPU

Apple Updates The iMac

image: Apple Just after debuting two new iPads , Apple has updated its iMac line with up to 8-core Intel 9th-generation processors for the first time and Vega graphics options. This is a 2x performance boost, combined with Retina display, fast storage and memory, macOS Mojave and an all-in-one design. The 21.5-inch iMac now features 8th-generation quad-core and 6-core processors for the first time, while the 27-inch iMac now for the first time features up to 9th-generation 6-core and 8-core processors. With Radeon Pro Vega graphics, the new 21.5-inch version and the 27-inch version will deliver up to 80% faster and 50% faster graphics performance - respectively - from the previous versions. image: Apple Other notable features of both iMacs include its Retina display - up to 14.7 million pixels, 1 billion colors, 500 nits of brightness and P3 wide color gamut - and a 5 millimeter-thin aluminum and glass enclosure. Set to hit stores next week, the new 21.5-inch iMac and 27-

Toyota and Nvidia Collaborate On Self-Driving Tech

Toyota self-driving vehicles undergo testing image: Toyota Toyota has tapped Nvidia for a collaboration to 'develop, train and validate self-driving vehicles', Nvidia announced on Monday at the on-going GPU Technology Conference (GTC) . This partnership builds on an already existing relationship with Toyota to utilize the Nvidia Drive  "scalable AI platform for autonomous driving", and is based on collaboration between teams from Nvidia, Toyota Research Institute-Advanced Development (TRI-AD) in Japan and the Toyota Research Institute (TRI) in the U.S. Nvidia says the agreement included the development of "an architecture that can be scaled across many vehicle models and types", boosting production and development timeline, and also "simulating the equivalent of billions of miles of driving in challenging scenarios." A Toyota self-driving vehicle image: Toyota “Our vision is to enable self-driving vehicles with the ultimate goal of

Atlassian Snaps Up AgileCraft For $166 Million

(From left-right) Atlassian co-founders and co-CEOs Mike Cannon-Brookes and Scott Farquhar image: Atlassian Atlassian has announced an acquisition of AgileCraft - a Georgetown, Texas based provider of "enterprise agile planning software" - for $166 million: $154 million in cash, and the rest in restricted shares subject to vesting conditions. The acquisition is expected to close next month. San Francisco based Atlassian's purchase of AgileCraft is expected to add approximately $1-2 million to the company's fiscal 2019 revenue. The 2013 founded company  raised $10 million in funding from investors including private equity firm Crane Nelson, and former Bank of America senior executives Jim Kelly and Tim Arnoult. An Atlassian office image: Atlassian This acquisition adds to Atlassian's notable buys, including a $295 million purchase of OpsGenie September last year and a $425 million purchase of Trello in 2017. “As Atlassian tools spread throug

Gett Reportedly Looking To Go Public This Year

Gett founder and CEO Shahar Waiser Photo by John Phillips/Getty Images for TechCrunch According to the Financial Times, Gett - an Israeli based ride-hailing startup valued at $1.4 billion from a last year round - is planning an IPO this year, potentially joining Lyft and Uber which are expected to also go public this year. According to FT, Gett is planning a listing in either Israel or on the London Stock Exchange. Citing CEO Dave Waiser, the FT reports Gett considered a listing after seeing that ride-hailing rival Lyft planned to go public, despite growing losses . “We will see how Lyft goes, we believe there’s a lot of public capital waiting for the [technology] darlings [Uber and Lyft], but we also believe that our business model makes sense,” Waiser said. Volkswagen CEO Herbert Diess. Volkswagen is a strategic partner and has invested $300 million in Gett. image: Volkswagen Citing a monthly profit chart, the Financial Times says Gett's global business los

Apple Debuts Two New iPads

New iPad mini image: Apple Ahead of a March 25 event expected to showcase its moves into subscription based software, Apple has unveiled two new additions to the iPad lineup: a new 10.5-inch iPad Air and 7.9-inch iPad mini. It says the new iPad Air comes with a 70% performance boost and twice the graphics capability of the previous version. Features of the new iPads include: iPad Air: Apple Pencil Support A12 Bionic chip 'Advanced Retina display with True Tone technology' - nearly 20 percent larger (with over half a million more pixels) than the previous version eSIM technology. New iPad Air image: Apple The features of the new iPad mini are also quite similar to the new iPad Air. Apple says the new iPad mini comes with three times the performance and nine times faster graphics than the preceding version. It also says it's "25 percent brighter and has the highest pixel density of any iPad". Set to hit stores next week, the new iPad mini s

Walmart Plans To Launch Budget Tablet

image: Walmart As confirmed to Bloomberg by a Walmart spokeswoman, the company is looking to launch a low-cost, kid-friendly tablet under its ONN store brand, potentially competing with the likes of Apple, Amazon, Samsung, Huawei and Lenovo which dominate the tablet market. According to presentations "given by senior management at a recent meeting of the company’s suppliers" cited by Bloomberg, Walmart will make home goods and electronics a focus this year. Releasing a tablet might likely be a move to boost its electronics sales business. A customer shops for electronics at a Walmart store image: Walmart Walmart wouldn't be the only retailer to enter the tablet market, The likes of Amazon and Britain's Tesco have also seen success with the release of popular tablets (Tesco discontinued its in 2015 after a management change). Walmart's ONN store brand is mostly known for accessories like TV soundbars, headphones, charging cables, Bluetooth

Investors Reportedly Call For A Do-Away With Lyft's Dual-Class Share Plan

Lyft co-founder and CEO Logan Green Photo by Noam Galai/Getty Images for TechCrunch According to the Financial Times , investors in Lyft, including pension funds, union and asset managers are calling on Lyft's board to do away with a proposed dual-class share plan , that'll give its founders majority control of the company - despite owning less than 10% of total shares together - in an IPO scheduled for soon time . Earlier this month, Lyft unveiled its S-1 filing that revealed plans to form a new class of shares that'll carry 20 votes each. That'll give is founders - Logan Green and John Zimmer - major voting power that will surpass that allocated for their roughly 7% collective ownership of the company. (From L-R) Lyft co-founders Logan Green and John Zimmer image : Zimride Crew on Flickr    According to FT, the investment groups called for Lyft to stick to a single share calss with one vote each when it debuts on the public markets later this month.

Facebook Preps New Detection Tech To Fight 'Revenge Porn'

Facebook CTO Mike Schroepfer image: JD Lasica on Flickr According to a Facebook announcement , the company is testing a new detection technology to combat 'revenge porn', that involves an "emergency option (for users) to securely and proactively submit a photo to Facebook", with Facebook in turn creating a "digital fingerprint" of that image to prevent it from being shared on its platform. Facebook says it'll expand this pilot over coming months so "more people can benefit from this option in an emergency". The company is also launching “Not Without My Consent,”, a "victim-support hub" in its Safety Center that it says was developed together with experts. It says victims of revenge porn will be able to find organizations and resources to support them, including steps that can be taken to get "non-consensual intimate images" off Facebook and prevent further sharing. Facebook chief operating officer (COO) Sher

PagerDuty Files For IPO

PagerDuty CEO Jennifer Tejada Photograph by Stuart Isett/Fortune PagerDuty - an SaaS company  valued at $1.3 billion September last year - has filed its S-1, a public disclosure about IPO plans. This comes on the heels of Pan-African e-commerce company Jumia filing for its own IPO . PagerDuty's filing indicates it seeks to raise $100 million in its public debut, an amount often used as a placeholder that's subject to change. San Francisco based PagerDuty says it has more than 10,800 clients, including Box, Okta, Slack and GoodEggs using its software. For the fiscal year ended January 31, 2018, it booked $79.6 million in revenue and a net loss of $38.1 million, compared with $56.6 million revenue and $29.8 million net loss in 2017. Former NetSuite CEO and PagerDuty board member Zach Nelson. Nelson notably led NetSuite from 2002 to its $9.3 billion acquisition by Oracle in 2016. Photograph by Stuart Isett/Fortune Brainstorm Tech The company says it intend

Jury Rules Apple Infringed On Qualcomm Patents

image: Apple A San Diego jury has ruled in favor of Qualcomm concerning its on-going legal spat with Apple, awarding the chipmaker $31 million from Apple which it found in infringement of three Qualcomm patents. This gives Qualcomm the victory in a long legal dispute with origins last year when it sued Apple alleging it infringed patents related to enabling smartphones gain better battery life. During a jury trial that lasted 8 days, Qualcomm requested Apple pay royalties of up to $1.41 per iPhone that violated its patents. "Today's unanimous jury verdict is the latest victory in our worldwide patent litigation directed at holding Apple accountable for using our valuable technologies without paying for them," Qualcomm General Counsel Don Rosenberg said in a statement. "The technologies invented by Qualcomm and others are what made it possible for Apple to enter the market and become so successful so quickly. Customers welcome workers outside an Apple store

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US Sanctions First Crypto Exchange For Alleged Ransomware Ties

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Law: Ex-Quant Analyst Indicted For Front-Running Employer's Trades

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Deal: DraftKings Bids $22B For UK Betting Giant Entain

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Antitrust: US Sues To Block JetBlue-American Airlines Alliance

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Deal: Blackstone Buys Condor Hospitality's Hotel Assets For $305M

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Alert: Coding Platform GitLab Files For US IPO

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Earnings: Nike's Sales Falter, Shares Drop 6%

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Deal: Hollywood Agency CAA To Buy Rival ICM

In a historic deal in the talent agency industry, two of the biggest entertainment and sports talent agencies operating in the US are about to merge to become one. It's so that Creative Artists Agency (CAA) , a powerhouse talent agency with a roster of stars, has reached a deal to buy ICM Partners , a rival powerhouse agency. CAA buying ICM is a blockbuster deal that'll see two of Hollywood's most powerful talent agencies merge into one more robust powerhouse. The combined agency would be a more formidable one for arch-rivals such as William Morris Endeavor (WME) and United Talent Agency (UTA) . Normally, CAA, ICM, WME, and UTA are considered the "big four" talent agencies in Hollywood and sports, representing the most significant share of A-list talent across both industries. Now, it appears that the "big four" would soon become the "big three."  CAA is the bigger of the two agencies, commanding a bigger roster of talent and business than IC