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This Is The Apple Watch Series 5

image: Apple Earlier this week, Apple held a keynote event where it debuted the iPhone 11 , alongside its Pro and Pro Max variants. On that day, Apple also announced the launch dates and pricing models for the Apple TV+ video subscription and Apple Arcade game subscription service. Apple TV+ will launch on the 1st of November, costing $5 per month. Apple Arcade on the other hand will launch in 4 days time (19 September), also costing $5 per month. Alongside the iPhone 11, Apple debuted a new seventh-generation iPad , and the Apple Watch Series 5, the fifth iteration of the popular Apple Watch lineup. The Apple Watch Series 5 comes with never-seen before features in an Apple smartwatch, including an "Always-On Retina" display, which allows users to look at the time, or whatever is on the home screen without having to raise or tap the display; new location features, ranging from a built-in compass that'll tell the user what direction they're facing to a feature

France And Germany Could Block Facebook's Libra

Facebook COO Sheryl Sandberg Photograph by Krista Kennell/Fortune Most Powerful Women Not long after Yves Mersch, a member of the Executive Board of the European Central Bank, took a jab at Facebook's proposed digital currency, Libra, France and Germany, two eurozone countries, have opposed the digital currency, saying it posed risks to the financial sector that could block its authorization in Europe. Both countries have supported the development of an alternative public cryptocurrency, which the European Central Bank recently announced it was working on. The criticism from both countries sound similar to that of Mersch, who earlier opposed Facebook's Libra, stating it posed a risk to the monetary control and oversight by EU member states. Mersch described the control of Libra, which will be overseen by a team of founding members who have put up at least $10 million each to get equal voting rights, as "cartel-like". In a joint statement, France and Germany&

Cloudflare Pops On IPO Debut

Cloudflare co-founder and COO Michelle Zatlyn Photograph by Stuart Isett/Fortune Brainstorm Tech Cloudflare, roughly a month after filing for an IPO , debuted on the public markets yesterday, raising $525 million from the sale of more than 35 million shares. Cloudflare priced its IPO at $15 a share, up from a previous range of between $10 to $12 per share. The company's stock jumped 20% on its debut to $18 per share, giving the company a market cap of roughly $5.3 billion. This is up from its last private valuation of $3.2 billion. Cloudflare's IPO happened at the same time frame another highly-valued private company, SmileDirectClub, debuted on the public markets. SmileDirectClub filed to go public the same week as Cloudflare and also went public the same week the company did. But unlike Cloudflare, SmileDirectClub didn't pop on its public debut, instead falling 28% below its IPO price . Still, the brace-making company notched a valuation of $6.4 billion [as of T

Softbank Reportedly Planning To Invest $750 Million In WeWork IPO

WeWork CEO Adam Neumann Photo by Noam Galai/Getty Images for TechCrunch According to a report from the Wall Street Journal , Softbank, a major investor in WeWork, plans to buy at least $750 million worth of shares in WeWork's impending IPO, even amid reports of the company seeking a valuation as low as $10 billion for a public debut [a $10 billion figure would be lower than the $12.8 billion in equity and debt funding WeWork has raised since inception]. Softbank was previously reported to have pushed WeWork to postpone its IPO amid doubts and concerns over its cash burn rate and potential path to profitability. However, WeWork was reported to be going ahead with a public offering, even if it meant a value that's way lower than the  $47 billion post-money valuation  it got from a Softbank investment in January. WeWork's push to go ahead with an IPO isn't surprising, given a $6 billion credit facility it has lined up that's contingent on it raising at le

Affirm Reportedly Raising $1.5 Billion In New Funding

Affirm founder and CEO Max Levchin Photo by Vaughn Ridley/Collision via Sportsfile Not long after raising $300 million  at a reported $2.9 billion valuation, TechCrunch reports that Affirm, an online lending startup led by PayPal co-founder Max Levchin, is raising as much as $1.5 billion in debt and equity funding. The report says Thrive Capital, the VC firm that led its $300 million funding, is leading the new financing, with participation from Spark Capital. According to TechCrunch, a significant part of the funding would lie on the debt side, with a line of credit from a large financial institution in the works. Fintech companies, especially those focused on lending, often raise huge credit facilities or equity funding to sustain operations. For example, Kabbage, an online lender for small businesses, secured a $200 million credit facility sometime in June. Klarna, a Swedish startup that's in the same market as Affirm, recently raised $460 million in funding. Affir

Square Said To Be Testing Free Stock Trading Service

Square CEO Jack Dorsey Photo: Ryan Lash / TED According to a report from Bloomberg , Square is testing a new feature that'll let users of its Cash App to make free stock trades, a move that looks like a jab at Robinhood, a well known free stock trading service that was recently valued at $7.6 billion . Bloomberg reports Square employees began testing the new feature in recent weeks. Square's Cash App already lets users do a lot of things, including sending money to friends, using an accompanying debit card, or buying and selling Bitcoin. Square doesn't consistently provides updates on how many people use the Cash App, but as at last year December, the company said the Cash App had more than 15 million monthly active users. Robinhood, which is mostly known for its free stock trading app although it's expanded into other areas like options trading and margins trading, had more than 6 million users as at 2018 end. According to Bloomberg, Square's initial p

Anduril Is Reportedly Raising Funding At A $1 Billion+ Valuation

Anduril co-founder Palmer Luckey Photo by Diarmuid Greene/Web Summit via Sportsfile According to a CNBC report , Anduril, a defense technology startup founded by Oculus co-founder Palmer Luckey, which recently got a $13.5 million contract to monitor U.S. marine bases, is raising funding at a valuation of more than $1 billion. CNBC reports famed VC firm Andreessen Horowitz, an already existing backer, is part of the investors in Anduril's new round. Currently, Anduril is known to have raised $41 million in funding, last valued at $250 million according to Pitchbook data. Anduril is a quite-secretive startup, with no press releases on any funding we can track. However, there's substantial information about its operations available on various news outlets, public government documents, and its own website . Anduril develops border surveillance technology that's used by customers like the U.S. government to secure and track movement in and around environments. Andu

Samsara Raises $300 Million, Now Valued At $6.3 Billion

Samsara co-founder and CEO Sanjit Biswas image: TechCrunch on Flickr Samsara, an industrial IoT startup that makes fleet management hardware and software, has announced $300 million in new funding that values it at $6.3 billion, up from $3.6 billion when it last raised funding late last year. The new funding came from Tiger Global and Dragoneer, who are new investors, alongside existing investors Andreessen Horowitz and General Catalyst. This funding included, Samsara has now raised a total of $530 million. This funding comes as Samsara's customer demand continues to grow. The San Francisco-based company more than doubled its customer base to 10,000 over the past year, and also expanded into 10 new countries. Samsara says its revenue grew at 200% year-over-year. With this new funding, the company plans to develop new products for customers, expand into new markets, and grow its headcount. A Samsara IoT Gateway image: Samsara Samsara makes complete hardware,

WeWork May Still Go On With IPO

WeWork co-founder and CEO Adam Neumann Photo by Noam Galai/Getty Images for TechCrunch Amid reports of WeWork seeking an IPO valuation that's less than half of its last private valuation, or Softbank, a major investor, pushing the company to postpone the IPO, Reuters reports  the co-working company is pressing ahead with its plans to go public, leaving its largest investor, Softbank, with an austere choice: take a loss from a slash in valuation or put in more cash to keep the loss-making company afloat amid current expansion plans. Reuters reports WeWork may seek a valuation of between $15 billion to $18 billion in an IPO, down from its last private valuation of $47 billion. Such valuation would not be far from a  total of $10.65 billion in equity and debt funding Softbank has put into WeWork since 2017. The Japanese company, which invested out of its $100 billion Vision Fund, could be facing a hefty loss if WeWork proceeds with its IPO. This would be an additional h

Apple Debuts The iPhone 11

iPhone 11 image: Apple Apple, yesterday at the Steve Jobs Theater, debuted the new iPhone 11, along with two additional variants: the iPhone 11 Pro and iPhone 11 Pro Max . The iPhone 11 is a smartphone that has a dual-camera system, for the first time on an Apple phone, and is powered by Apple's A13 bionic chip, one of the most powerful smartphone chips out there. The Pro and Pro Max variants went a step further with a triple-camera system, comprising of an Ultra Wide, Wide and Telephoto camera that work together to shoot high-quality footage. The iPhone 11 on the other hand only has Ultra Wide and Wide cameras. The iPhone 11's dual-camera system image: Apple The iPhone 11 Pro and Pro Max's triple-camera system image: Apple The iPhone 11 measures 6.1-inch, with "the toughest glass ever in a smartphone", according to Apple. It's water resistant up to 2 meters for up to 30 minutes, and is also protected against accidental spills

Rivian Raises $350 Million From Cox Automotive

The Rivian R1T image: Rivian Several months after raising a $700 million Amazon-led round , and a later $500 million from Ford , Rivian, an electric vehicle manufacturer, has announced $350 million in new funding from Cox Automotive, an Atlanta-based automotive services giant that owns well-known brands like Autotrader, Dealer.com, Dealertrack, Manheim and Clutch Technologies. This funding included, Rivian has raised $1.55 billion in funding this year alone. In addition to Cox's investment, Rivian will also partner with the automotive services company to "explore partnership opportunities in digital retailing, service operations and logistics." Rivian has developed two electric vehicles: the R1T , a truck, and the R1S , an SUV. The Plymouth, Michigan-based company plans to launch both vehicles in the US late next year, and in other countries beginning 2021. With new funding, Rivian has been increasing its headcount, from 750 as at February to more than 1,000

Shopify Acquires 6 River Systems For $450 Million

Shopify CEO Tobias Lütke Photo by David Fitzgerald/Collision via Sportsfile Shopify has announced it has reached a deal to acquire 6 River Systems, a Massachusetts-based maker of warehouse robots, for $450 million in cash and stock. This acquisition is a strategic one that comes shortly after Shopify announced  it'll spend $1 billion to set up a network of fulfillment centers in the U.S. to help its merchants deliver goods faster and at lesser costs. Shopify has a likely target with this move: Amazon, and is seemingly acquiring 6 River Systems to ensure its fulfillment centers are on par with that of the Seattle-based e-commerce giant. Amazon makes use of an army of warehouse robots, and made a similar acquisition to Shopify's in 2012; that of Kiva Systems, a developer of warehouse robots it paid $775 million for. Interestingly, 6 River Systems was founded by former Kiva executives. The $450 million figure is split into 60% cash and the remaining 40% in Shopify shar

Daimler Begins Testing Driverless Trucks On Public Roads

A Daimler self-driving truck image: Daimler German auto giant Daimler has announced  that it has begun developing and testing self-driving trucks on public roads in partnership with Torc Robotics, a Blacksburg, Virginia based self-driving firm it  took a majority stake in earlier this year. Daimler's self-driving trucks are being tested on highways in southwest Virginia, where Torc Robotics is headquartered. As the case has always been, a backup driver and an engineer are always present in the self-driving trucks. Daimler says its trucks are of "Level 4" standard. The deployment on public roads comes after months of testing and safety validation on an enclosed loop track. Daimler says it'll continue to work on self-driving technology for heavy-duty trucks. “Torc Robotics is a leader in automated driving technology. Daimler Trucks is the market leader in trucks and we understand the needs of the industry. Bringing Level 4 trucks to the public roads is a m

Facebook To Hire More Than 3000 In NYC

Facebook COO Sheryl Sandberg Photograph by Stuart Isett/Fortune Global Forum In a statement to Bloomberg , a Facebook spokesman said the social networking giant aims to hire more than 3,000 people in New York City over the next three to five years, with poaching from the finance sector being a “quite common” way of doing that, according to the spokesman. Facebook aims to double its headcount in the city, which is a hotbed of tech talent, although lesser in comparison to the Bay Area (Palo Alto, San Francisco and San Jose). Such expansion could set Facebook for a battle with some of the biggest finance firms, for example Goldman Sachs, which plans to hire 100 coders  for its trading business as part of its biggest hiring spree in years. Goldman has said it plans to poach from rivals in technology and finance. Facebook's expansion plan further boosts NYC's status as a leading tech hub. Other tech giants like Google, Apple and Amazon already employ thousands in the cit

Apple Contretemps Google's iPhone Exploit Report

Apple CEO Tim Cook image: Apple Last week, Google security researchers published a post about security vulnerabilities on the iPhone, that involved the use of a "small collection" of hacked websites to stage attacks on any iPhone that visited them. Google's security researchers say they discovered 14 security vulnerabilities across five exploit chains, which "indicated a group making a sustained effort to hack the users of iPhones in certain communities over a period of at least two years." Apple was informed of the vulnerabilities and pushed out a patch 10 days after it got notified. The discovery and patch happened as early as February this year, but in the light of Google's recent report, generated concerns from Apple customers. Now Apple has published a statement  on the issue, accusing Google of creating a false impression of “mass exploitation” used to “monitor the private activities of entire populations in real time,”. Apple accuses G

Palantir Said To Be Seeking More Private Funding

Palantir co-founder Peter Thiel Photograph by Stuart Isett/Fortune Brainstorm Tech According to a report from Bloomberg , Palantir, which was reported to be targeting a next year IPO, has postponed IPO plans in lieu of more private funding. Bloomberg reports the secretive data mining company has approached Singapore's Temasek Holdings, Softbank, and other investors outside the U.S. for additional funding. Talks are still ongoing, with no deal reached yet, Bloomberg reports. According to Bloomberg, Palantir co-founder Peter Thiel, speaking to employees earlier this month, said the company wouldn't go public anytime during the next two to three years, entailing an IPO has been pushed up to 2022 or later. Raising more private funding would ease some IPO pressure, and provide a firm valuation for Palantir, whose value has been appraised at different figures, from $20 billion in 2015 to $11 billion this year, to as high as $41 billion  [in the event of an IPO] and once

Palo Alto Networks Pays $75 Million For Zingbox

Palo Alto Networks CEO Nikesh Arora Photograph by Stuart Isett/Fortune Brainstorm Tech Palo Alto Networks has announced it's acquiring Zingbox, a Mountain View-based IoT security startup, for $75 million. The acquisition is expected to close in this year's fourth quarter. Before this acquisition, Zingbox had raised $23.5 million in funding, according to Crunchbase data. The Mountain View-based startup sells Internet of Things (IoT) security software to hospitals, companies, and manufacturing facilities, to help them manage and secure IoT devices. Zingbox's security software is cloud-based and made possible by deep learning technology, a newer approach that's been adopted by several hot cyber-security startups and companies. Zingbox was founded by Silicon Valley veterans with expertise in cybersecurity, IoT, Deep Learning, and networking, and was incubated under the the Stanford StartX program. Zingbox's founders, Xu Zou, May Wang, and Jianlin Zeng,

uBiome Files For Bankruptcy

uBiome co-founder Jessica Richman Photograph by Stuart Isett for Fortune Brainstorm Health Not long ago, we wrote about some troubles at uBiome, a San Francisco-based health-tech startup whose offices were raided by the FBI , with layoffs, payment refunds and its founders being placed on administrative leave following. The FBI's investigation concerned billing practices, with reports  that uBiome may have been billing customers using inaccurate codes, and claiming to have done bigger and more costly tests than had been really done. It's a few months after the FBI raid and uBiome has just announced  it has filed for bankruptcy protection in the state of Delaware, kicking off a process to facilitate the sale of its assets. uBiome has obtained debt financing from 8VC and Silicon Valley Bank to support operations as it seeks for a buyer. uBiome plans to secure a full sale within 75 days. Subject to a court's approval, potential buyers will be able to submit offers t

Nikola Raises $250 Million At A $3 Billion Valuation

Nikola CEO Trevor Milton image: Nikola Nikola, a formerly Utah but now Phoenix-based manufacturer of hydrogen-electric vehicles, has courted a $250 million Series D investment out of a targeted $1 billion raise. CNH Industrial, one of the world's largest capital goods companies, made the investment at a $3 billion pre-money valuation. The $250 million figure actually comprises of $100 million in cash and $150 million in services like product development, manufacturing engineering, and other forms of technical assistance that CNH will provide to Nikola. CNH Industrial owns FPT Industrial, a leading manufacturer of powertrains for large vehicles, and Iveco, a leading manufacturer of heavy trucks. These two firms will provide strategic expertise for Nikola, which is known mainly for its hydrogen-electric (fuel cell) trucks. Iveco and FPT will provide engineering and manufacturing services to industrialize Nikola’s fuel-cell powered electric trucks, under the terms of CNH&#3

Uber Drivers Are Independent Contractors, Brazil Court Rules

Uber CEO Dara Khosrowshahi Photo by Steve Jennings/Getty Images for TechCrunch The Brazilian Superior Court of Justice has ruled that drivers who offer services through Uber are independent contractors, not employees, of the ride-hailing firm, a decision that may be of benefit to San Francisco-based Uber by setting a paradigm for similar cases, especially in a period where California legislators are pushing a bill , dubbed Assembly Bill 5 (AB5), to force large gig employers like Uber to treat independent contractors as employees. In response, Uber, along with fellow gig employers Lyft and DoorDash, pledged $30 million each  toward a ballot measure that would overturn such proposed law. “App drivers don’t have a hierarchic relationship with Uber because their services are provided casually, without pre-established working hours or fixed salary, and therefore the characteristics of the labor tie among the parts don’t exist,” Brazil's Superior Court ruled in a consentient

The Galaxy Fold Will Reportedly Launch In 2 Days Time

image: Samsung According to a report from Reuters , the Samsung Galaxy Fold, whose launch was delayed a few months ago, will go sale on Friday, two days from now, or the 6th of September to be precise. Reuters reports the Galaxy Fold will go on sale on Friday in South Korea, for a price hovering around $1,980. Samsung first unveiled the foldable smartphone in February, and scheduled a release on the 26th of April. But that was later delayed amid reports of breakdowns during tests, with U.S. retailer Best Buy [and Samsung itself] having cancelled all pre-orders for the foldable phone shortly after. In July, Samsung announced it would be ready to sell the Galaxy Fold in September after effecting several changes, including toughening hinges, which was a main focus of complaint by early reviewers. The delay of the Galaxy Fold effected sales that would have led to an ample rise in revenue during a slow summer season. Currently, Samsung has re-opened pre-orders for the Galaxy Fol

Kabbage Scoops Up Radius Intelligence

Kabbage co-founder and CEO Rob Frohwein image: MoneyConf on Flickr Kabbage, an Atlanta-based online small business lender that secured $200 million in debt financing roughly two months ago, has announced it's acquiring Radius Intelligence, a San Francisco-based small business data platform that's backed by nearly $110 million in funding from top VCs like Founders Fund, AME Cloud Ventures, Formation 8 and Salesforce Ventures. Radius had previously reached a deal to merge with a competitor, Leadspace, but quietly turned back some few months later. Financial terms of Radius' acquisition were not disclosed. Kabbage is getting nearly 20 employees, including CEO Joel Carusone, that'll be added to its San Francisco office with this acquisition. Kabbage is a digital lender for small businesses, and Radius has put together a database of information on some 20 million small and medium businesses in the US. The acquisition seems like a very good fit, with Radius&#3

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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

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

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

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

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

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