Facebook announced yesterday that it has banned myPersonality for improper data controls and failing to agree to Facebook’s request to audit. It is only the second app to be banned since the company’s [..]
Comments Off on Uber Reports Q2 Losses of $404 Million
Uber reports their EBITDA adjusted losses for Q2 at $404 million, which is a 32% increase from the $304 million in losses in Q1. Uber isn’t legally required to disclose their financial results, but they have the last [..]
Comments Off on Slack is raising a $400 million funding round
Slack, a popular cloud-based team collaboration tool and service, is planning to raise over $400 million or more in an upcoming round of funding. The post-money valuation of Slack will be $7 billion or more. Slack is trying [..]
Comments Off on Tesla Developing Own AI Chips for Self-Driving Cars
Tesla CEO Elon Musk has announced that the automaker has been “stealth” developing a custom-built AI chip for the past two or three years.
The Tesla computer, or “Hardware 3”, is a Tesla-built piece [..]
Comments Off on Facebook loses $123 billion in value
Facebook’s share price fell more than 20 percent in perhaps one of the biggest one-day drop of all time. Facebook shares opened at $174.89, down 19.6% compared to yesterday’s closing price of $217.50.
Comcast announced this morning that it is dropping out of the bidding war to acquire the film and television assets of 21st Century Fox.
Disney had made a deal to acquire Fox last year. However, after a district court judge [..]
Comments Off on At&T to sell Magic Leap’s augmented reality headsets in U.S.
At&T today announced they will be investing in Magic Leap, an augmented reality startup, and will become the exclusive “wireless” distributor of Magic Leap products in the U.S. beginning this summer. This [..]
Comments Off on Synchrony buys Paypal’s consumer credit portfolio for $7 billion
The deal between Synchrony and PayPal is officially closed, with Synchrony acquiring $7.6 billion in receivables. The deal, first announced in November 2017, includes PayPal’s U.S. consumer credit portfolio, worth $6.8 [..]
Comments Off on Lyft raises $600 million in funding at $15.1 billion valuation
Lyft has raised $600 million in a Series 1 financing round led by Fidelity Management & Research Company on Wednesday. This additional funding pushes the company’s valuation at $15.1 billion. Lyft has more than [..]
Comments Off on Instagram launches IGTV app for creators
Instagram officially launched IGTV, a new service for long-form videos that is expected to rival YouTube, at an event in San Francisco Wednesday morning. The hour-long videos can be viewed directly within the Instagram app [..]