Does the overcrowded and cut-throat music streaming business have room for an additional player? The world’s most valuable startup certainly thinks so. Chinese conglomerate ByteDance, valued at over $75 billion, is working on a music streaming service, two sources familiar with the matter told TechCrunch. The company, which operates popular app TikTok, has held discussions … Continue reading ByteDance, TikTok’s parent company, plans to launch a free music streaming app
Entrepreneurship
China’s Luckin Coffee raises up to $651M in upsized US IPO
Another week, another cash-burning tech IPO in the U.S. Following on from Uber’s high-profile listing, ambitious Chinese startup Luckin Coffee has raised up to $650.8 million on the Nasdaq after it priced its shares at $17. Despite concern at its high losses and little chance of near-term profitability, Luckin seems to have been greeted positively … Continue reading China’s Luckin Coffee raises up to $651M in upsized US IPO
How Much Money Do You Need to Be Wealthy in America?
The exact amount can depend on how old you are. Rich is relative. Merely having a net worth of $1 million, it seems, doesn’t mean you’re wealthy. In Charles Schwab’s annual Modern Wealth Survey, the amount people said it took to be considered rich averaged out to $2.3 million. That, the company said, is “more than 20 … Continue reading How Much Money Do You Need to Be Wealthy in America?
Zuckerberg says breaking up Facebook “isn’t going to help”
With the look of someone betrayed, Facebook’s CEO has fired back at co-founder Chris Hughes and his brutal NYT op-ed calling for regulators to split up Facebook, Instagram, and WhatsApp. “When I read what he wrote, my main reaction was that what he’s proposing that we do isn’t going to do anything to help solve … Continue reading Zuckerberg says breaking up Facebook “isn’t going to help”
15 Months of Fresh Hell Inside Facebook
The streets of Davos, Switzerland, were iced over on the night of January 25, 2018, which added a slight element of danger to the prospect of trekking to the Hotel Seehof for George Soros’ annual banquet. The aged financier has a tradition of hosting a dinner at the World Economic Forum, where he regales tycoons, … Continue reading 15 Months of Fresh Hell Inside Facebook
Uber’s first day as a public company didn’t go so well
At long last, it’s lift-off for Uber. After pricing its initial public offering at $45 per share, at the bottom end of the range it set previously, to raise $8.1 billion, the transportation startup began trading today on the New York Stock Exchange, and the shares opened at $42, down from the IPO price. Ahead … Continue reading Uber’s first day as a public company didn’t go so well
Jeff Bezos aims Blue Origin at the Moon
Today at a packed event blocks from the White House, Jeff Bezos took the stage in front of select members of the media, executives, government officials and a gaggle of middle schoolers to reveal new details of his plan to get to the Moon by 2024. Blue Origin is going to send humans to space … Continue reading Jeff Bezos aims Blue Origin at the Moon
The once-hot robotics startup Anki is shutting down after raising more than $200 million
Anki, the robotics company that has raised over $200 million in venture capital, is laying off its entire staff and the startup is shuttering, Recode has learned. In a teary all-hands meeting on Monday morning, CEO Boris Sofman told his staff they would be terminated on Wednesday and that close to 200 employees would be … Continue reading The once-hot robotics startup Anki is shutting down after raising more than $200 million
Uber and Lyft drivers are striking ahead of Uber’s IPO
With Uber expected to make its debut on the public market by Friday, May 10, on-demand ride-hailing drivers are planning to strike on Wednesday. The New York Taxi Workers Association is calling on U.S.-based drivers to stand in solidarity with drivers in London and log off from both Uber and Lyft on May 8 between … Continue reading Uber and Lyft drivers are striking ahead of Uber’s IPO
Can Any Company Be a Tech Company?
Personal notes: Regardless of how one would call himself - tech or non-tech, he needs to have a successful and profitable starting point first. Then the story would be able to continue and evolve to where you leads it... When they were still undergrads at Georgetown University, Jonathan Neman, Nicolas Jammet, and Nathaniel Ru weren't … Continue reading Can Any Company Be a Tech Company?
Eric's playground 