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Showing posts from May, 2018

The Skydio R1 self flying camera now films moving cars

image credit : Skydio

Skydio, The robotics company founded 4 years ago notable for its R1 autonomous drone which shoots 4K footage and could capture moments while following people around has now gotten an awesome feature which breaks ground in so many ways.

The drone can now follow moving cars while shooting footage, A new feature which will see it capturing much more better, daring and actionable moments which is a feature that can be likened to that of high budget Hollywood studios when making scenes involving automobiles.



This new feature dubbed "Car Follow" comes as a cinematic mode which films its users on four wheels and was made possible with the training of the drones' neural networks using a huge number data sets of different car images, The drone will make use of its 13 cameras for the feature of capturing nice footage and also autonomously guiding its locomotion from different positions.







The self-flying camera will gain this feature after a software update whi…

Warren Buffett almost invested $3 Billion in Uber

image credit : Flickr/DonkeyHotey

Several reports have emerged that legendary investor Warren Buffett had plans to invest a huge $3 Billion in Uber earlier this year until the deal fell through for different reasons, This reports have now been confirmed by Warren Buffett himself who said he's a great admirer of current Uber CEO Dara Khosrowshahi with Dara also stating in a recent CNBC interview that part of his business goals has been to get Warren Buffett to invest in something he's involved in, A goal which has not yet been marked.

Bloomberg reported that Warren Buffett proposed even a price well above $3 Billion for a convertible loan to the company which would have provided huge capital and profit for both sides as they continued to grow in value but the deal was later trimmed to a size of $2 Billion by CEO Dara Khosrowshahi and ultimately fell through when they couldn't agree on unified terms concerning the investment.

This comes as highly recognized investor Warren Bu…

WePlenish's smart container makes you never run out of Pantry supplies

image credit : WePlenish/Kickstarter

A new startup WePlenish has launched its new smart container on Kickstarter which is a product which automatically senses when pantry supplies are low and then re-orders them through online shopping site Amazon for the convenience of its customers.

The WiFi enabled smart container connects to Amazon Prime accounts to guarantee free 2 day shipping and easy returns with the pantry items being selected by the user, After being ordered, They are placed in the box by the owner and automatically re-ordered when taken out which continues the cycle thereby eradicating the stress of manual ordering and replacement of items by people themselves.




image credit : WePlenish/Kickstarter

This smart container which is integrated with Amazon's Dash replenishment service and contains sensors to measure quantity replaces Espresso capsules, K-Cup pods, snacks, candy and many other more pantries currently supported by the device and together with its minimalist desig…

Bird - Poised to be The first Scooter Unicorn

image credit : Bird

Electric Scooter vehicle sharing company Bird which was founded by a former Uber and Lyft executive has now been reported to be raising $150 million in a new round of funding to expand its services and fend off competition, A new round which will value the company at a huge $1 Billion making it the first electric scooter unicorn if it gets to close this funding round before its major competitor Lime who is also raising additional funds after raising a previous $132 million in funding.

It should also be noted that Bird has raised a previous total $115 million in funding and is currently operating in some cities where its electric scooters have been deployed, The company recently ordered a huge number of scooters from several manufacturers although there have been complaints from pedestrians that its scooters have obstructed roads and caused inconveniences for them, Anyway we expect that this is a problem Bird will fix soon using the best form of logistics.

Bird'…

Nio confidentially files for $2 Billion IPO

image credit : Nio

Nio, An electric vehicle manufacturer backed by a slew of Chinese companies previously raising a total of $2.1 Billion at a value of $5 Billion has confidentially filed for IPO with the U.S. SEC.

This will see the company who currently sells its electric Sports Utility Vehicle currently in China raise up to a reported $2 Billion over the Summer in this public offering of its shares.

This comes with previous reports that major tech investor Softbank was interested in acquiring a huge amount of the shares offered in the IPO for a price of $200 million, Nio's ES8 vehicle is a major competitor to the Tesla Model X in China where they both experience very good sales even with Nio's vehicle being more cheaper with The Nio ES8 costing $70,000 before incentives in comparison with Tesla's Model X which retails for over $100,000 in China due to tariffs placed on its importation which makes it more expensive than it is in the U.S.







Image credit : Nio

This major offer…

Taxify raises new huge round at a $1 Billion+ valuation

image credit: Taxify

Taxify, The popular ride-hailing app which gives Uber a ride for its profits in several European and African countries has raised a huge investment round of $175 million led by Automotive giant Daimler AG at a whooping $1 Billion valuation marking a new entry into the unicorn space.

The Estonian startup co-founded by brothers Markus and Martin Willig and currently led by 24 year old Markus Willig also counted investors Taavet Hinrikus who also co-founded Billion dollar fintech company TranferWise and Chinese ride hailing giant Didi Chuxing who re-invested in this round after previously investing an undisclosed 10 figure sum and providing Taxify with access to its network of knowledge and engineers to scale its operations.

Taxify is currently based in Estonia and operates in a network of 40 cities across Europe, Africa, The Middle East and Central America having a huge network of 500,000 riders and over 10 million global customers.






Taxify currently offers its servi…

Voodoo Games raises a huge $200 Million

image credit: Voodoo.io

Voodoo, A Paris based video game publisher notable for many games including Paper.io, Snake vs Block, Dunk Hit, Stack Jump and a slew of others has raised a huge $200 Million in funding to expand its operations, In turn developing a publishing space for mobile game developers.

The company made it known that during the ongoing Casual Connect conference which also featured speakers from other big game companies including Zynga, Netmarble and Naturalmotion that Goldman Sachs is a major investor in the company whilst its founders still retain a majority stake, The company didn't reveal how much it raised at the conference but major sources pegged the value at a huge $200 million.

Vodoo currently holds 9 positions in the top 25 downloaded games chart with the company also stating a huge number of 150 million monthly users and 300 million downloads last year with the company currently using a data-driven process which works very well for its release of casual mob…

Naspers pours $89 million into Frontier Car Group

image credit : FCG

The Frontier Car Group popularly known as FCG which is a German technology company dedicated to incubating innovation and investing in the transformation of several used car marketplace technologies around the globe has taken a huge round of funding from OLX Ventures which is in turn a subsidiary of South African based media giant Naspers.

This investment comes roughly three weeks after The Frontier Car Group announced a $58 million funding from several investors into the company, The technology company will now use these funds to greatly expand its investment into the various used car marketplaces it operates and backs in order to rapidly scale its mission and also improve revenue statistics.

This investment from OLX will also see FCG collaborate with and make use of its huge regional footprints in markets slated for huge growth opportunities to expand its own operations heavily.






FCG uses technology to promote the ease of transportation through the provision of aut…

Moviepass Parent Company slumps low even after huge increase in subscribers

Moviepass, The very popular subscription based ticketing services which charges a $9.95 per month flat fee for one movie a day access has seen its parent company Helios and Matheson Analytics' stock fall to a low $0.40 a share with the entire company being valued at just over $24 million.

Moviepass has not been favored by Wall Street analysts on reports of its heavy spending while losing money to raise revenues which is really growing for the company.

Helios and Matheson Analytics can be deemed as one who wasn't prepared for the public market but the private market which tolerates temporary money loss in a road to a very profitable future with high valuations.

Moviepass has garnered many users for its service, Above 2 million in particular and Moviepass's CEO Mitch Lowe says the company is still going well despite the recent stock slump to this price of $0.40 after once trading at a huge price of over $38.






The company is currently adding 90,000 subscribers per week to its…

The Autonomous technology companies winning right now

image credit : Cruise Automation

Autonomous vehicles have been a thing! - This has made driving much more better, Although not yet fully adapted, Self driving technology has grown so much over the years with so many startups gaining huge revenues, gaining huge investments and selling for huge amounts.

Cruise Automation sold to General Motors for $1 Billion, Zoox is valued at $1.55 Billion, Quanergy raised $90 million at a $1.59 Billion valuation and also on the list is its Mega competitor Velodyne which is valued at $2 Billion after raising $150 million from Ford and Baidu and is the worlds largest LiDar manufacturer as of now.

So many startups have come to this game, The list since endless, So far we have seen so many autonomous technology startups which include:


AlmotiveCruise AutomationDrive.aiNautoEmbarkOttoQuanergyStarsky RoboticsVelodyneWM MotorsZoox

And a slew of many others....

As the race to win the clear future of transportation, Big startups and companies have been pumping r…

Microsoft outs new game : Miami Street!

Well....brace up, Microsoft has unveiled  new game, Microsoft gives us car racing again, This time for the Windows 10 OS, This new game is so unique for its game-play support on all Surface devices.

Miami street is built for a broad audience who love easy to pick-up-and-play experiences according to Electric Square, The Game studio which partnered with Microsoft on the making of this video game which will be gradually rolled out to users for testing and feedback gathering.

This new game can be downloaded from the Microsoft store in the countries which its available in, It features One one One racing, realistic car control physics, Dynamic wide cameras, huge selection of cars and a swath of other amazing features.




In this game, You get to enter an event, choose your car lineup and opponent and then challenge your way to victory, You get to race in beautiful city streets and enjoy the speed and high quality race in very good definition.

The game also gets regular updates which players …

Our dear Tim Draper sings about crypto

image credit : Flickr/ JD Lasica

Notable tech investor and venture capitalist Tim Draper recently attended The  Next Web's crypto conference in the Netherlands capital of Amsterdam and gave a very nice talk on the future and current activities of the crypto world, But the fun really started when he took to the stage to sing about Bitcoin while donning a nice looking suit and a purple tie designed with bitcoin patterns, Bloomberg profiled the dude's amazing freestyle which the audience really seemed to enjoy.

Will @TimDraper break the charts with his singing skills? ‘I’m a Bitcoin hustle’ #TNW2018pic.twitter.com/pGMRZLSSXX — Kevin | 李大仁 (@kevinvdveer) May 25, 2018


The dude really spit some cool rhymes with nice flows like "We want a newwwww world ooorderrr, We wanna pay across the border" He continues "Just wanna be a hodler.....on my bitcoin hustle".

This lines came after Draper had a fireside chat on the topic of blockhain investment with Bloomberg markets a…

Top Hardware unicorns in the world right now

Unicorns (private companies valued at over $1 Billion) have grown globally over the years with over 200 in existence right now in so many tech sectors with the bulk coming from e-commerce and Fintech, Hardware has always been a very competitive space with companies getting to heavily go head-to-head with each other to grab consumer and enterprise attention, Right here, We are bringing the list of the current hardware unicorns that are making huge revenues and currently gaining very good traction, These companies all together are worth more than a whooping $70 Billion and got revenues of over $20 Billion last year alone.

They are:

Xiaomi

image credit : Xiaomi

Founded just 8 years ago by the 8 people pictured above with Lei Jun (middle) as the major player, Xiaomi which is notable for its high end smartphones coming at cheaper prices made a whooping $18 Billion in last year's revenue and currently commands a huge private valuation of $46 Billion after raising a total of $3.4 Billion a…

Your Graduation Gift Guide for this year's class

Currently and at some time soon this year, People are/will be graduating from different levels of the educational environment with this marking a very good moment of happiness for many, You know high-schoolers who hate school and could not wait to leave or PhDs who amazingly love what they do and can't wait to use their profound knowledge to go and impact the huge world out there, The same goes for all levels of education, People just belong to different categories.

If you're the one graduating, Kudos!, If its someone you know, Kudos! also, You are both very happy we deduce and would love to reward each other with amazing gifts to celebrate this milestone.

In your rewarding journey, We reward you with a guide on the gifts to buy to make yourselves happy, Get the consumerist experience and also make huge impact in your lives.

We present to you the:


During these special set of events, You would love to share and get gifts for others and yourself and The Techie has compiled the …

Self-Driving cars can now make speedy decisions in lane changes thanks to new research

image credit: MIT News

MIT's Computer Science and Artificial Intelligence Laboratory Researchers have developed a new algorithm which lets self-driving cars make lane changes swiftly, accurately and easily.

The new algorithms will use less information but faster application to make self-driving cars capable of making emergency and swift lane changes to improve autonomous cars' handling of emergency situations to make them more adaptive to current road driving.

Previous algorithm solutions to this were based on complex information bombarded models that provided less time to the cars to take decisions on lane changes during speedy and unexpected situations or some were just too limited in deductions to make good decisions while on the road.

MIT aimed to change that with the goal of doing as much as possible with the least information required and effective and they have made a huge step in that through the development of this new system.



With this new algorithm, Vehicles will be…

Magento Commerce acquired for $1.68 Billion by Adobe

image credit: Adobe

11 years after its founding, Popular e-commerce platform for open innovation has been acquired in a huge deal worth $1.68 Billion from technology focused private equity firm Permira which notably purchased a slice of Cisco's Video business earlier this month for a huge $1 Billion.

This will see Magento's  platform which provides a wide range of tools, features and add-ons for businesses to host e-commerce solutions just like its major popular competitor Shopify integrate into Adobe's Experience Cloud to provide much more better Business-to-Business and Business-to-Consumer solutions in the e-commerce space adding this major industry to Adobe's list of offerings.

Magento which currently shares customers with $100 Billion+ giant Adobe many of which include huge brands Nestle, Coca-Cola and the Time Warner Music Group will merge their digital experiences and innovations which increases Adobe's content strength, Market share and product efficiency d…

Amazon India is worth what Walmart paid for its Flipkart Stake

image credit : Flickr via CC License

According to a new analysis from the highly recognized financial services firm Citi Research, Amazon's Indian unit has been valued at a huge $16 Billion which comes as the same price Walmart paid for a 77% stake in India's largest e-commerce unit Flipkart at a valuation of over $20 Billion dollars.

This makes Amazon India just $4 Billion shy of Flipkart's huge $20 Billion+ valuation and proves that Amazon is in for huge competition with the company in the Indian e-commerce space which is slated to grow heavily in the upcoming years making a huge win for those who achieve huge market share right now.

Citi’s senior analyst Mark May and Hao Yan stated in the report that Amazon is expected to reach sales of $70 Billion worth of gross merchandise volume and achieve over $10 Billion in revenue in just 9 years time from the country, Amazon is predicted to capture 35% of the e-commerce market in India according to this detailed analysis.

India&…

OneSpace launches China's first Private Space Rocket

OneSpace Technology, a Beijing based space exploration startup just launched its 30ft rocket dubbed The “Chongqing Liangjiang Star” marking it the first occurrence of a non-government body launching a commercial vehicle to space, The rocket took off from a Northwestern Chinese base with a blast on a mission to deliver a small satellite to space which will be used for research the startup is working to further its space exploration missions.

OneSpace built the rocket entirely using Chinese technology and made its launch as cheap as possible through the use of innovative but less expensive systems such as wireless communication through the internet which costs 30% in comparison with the use of wired internet systems which adds more weight to the rocket and greatly increases the cost of launch.

This comes as the company has raised a total of $78 million for its operations, A sum which seems huge for other industries but not in the expensive world of space exploration although all this w…

Drones can now be tested "In Virtual Reality"

Researchers at the previous Massachusetts Institute of Technology have broken grounds on a system which would be ultimately used to test and train drones without the physical constraints attached using a VR system, The exact way we humans step into an immersive world when we put on a VR headset now applies to intelligent drones, These drones will learn how to avoid obstacles and collisions, Move at great speed and also maneuver through different positions all while learning like its actually doing it in the real world.

This way, even when drones unfortunately hit an obstacle using this "Flight Goggles" system, The damages are studied and taken virtually as opposed to physical damage which takes a lot of time, delaying trials and costing much more money. This method simulates the drone's sensors moving it through a virtual world as seen in the video above preventing various obstacles such as high winds and different hanging obstacles such as transmission power lines whic…

Apple sold 600,000 Homepods in the first quarter of this year

image credit : Apple

Apple's Homepod smart speaker didn't really live up to hype although it has recently captured 6% of the Market as of recent selling 600,000 units according to recent analysis by Strategy Analytics.

Even why capturing this slice of the market, Major competitors Amazon, Google, Alibaba and Xiaomi took the largest part of the market coming with a 43.6%, 26.5%, 7.6% and 2.4% for the Chinese companies with the combined companies leaving the remaining 13%+ to other players and startups who will have to innovate and disrupt to extensively win in the market.

This new statistics comes as competition has rapidly increased with each companies market share being diluted amidst increase in no of sales of smart speakers generally and customers going for different brands among a wide selection to choose from. Amazon had a 94% market share last year  and has gotten to 43.6% whilst still being the leader amidst huge competition from a slew of technology companies and star…

Fidelity Labs and Amazon create a VR financial assistant "Cora"

Amazon, The company which just released its Sumerian VR developer tools fully to the public had to showcase to everyone what could be made of its platform or supposedly "what its platform was made of" and it did just that with the debut of a VR digital financial advisor in collaboration with Fidelity Investments which let people interact with their investments and financial tasks in 3D.

The VR financial advisor is named Cora and combines a voice-commanded bot along with exploration of investment aims in a very unique way for its users.

Cora listens to requests from its users for information on the stock performance and financial statistics of different companies and then outputs the resulting information as financial graphs as charts to the user in an immersive form.


This not only gets the user huge loads of information at an easy pace, Its immersive experience and data presentation through the use of visual charts also increases the learning and information gathering exper…

Tanium raises $175 million at a whooping $5 Billion dollar Valuation

Tanium CEO/co-founder Orion Hindawi

Notable enterprise cyber-security company Tanium has just recently raised a big round of $175 million in funding from renowned investment firm TPG Capital at a huge valuation of $5 Billion which prior to this owned quite a huge stake in the cyber company founded 11 years ago thereby increasing its ownership slice with this new investment.

This is more $1.2 Billion more than its previous valuation of $3.75 Billion which came with a investment round of $100 million which was also led by TOG as of last year, An additional sale of $25 million worth of stock from current shareholders is currently in discussion and is slated to occur anytime soon.

Popular and Major Silicon Valley investor Andressen Horowitz along with other investors have been previous backers and shareholders of this huge company founded by Father and Son duo David and Orion Hindawi 11 years ago.






Tanium has performed very well with a 100% revenue increase last year and a $300 million cas…

E-Grocer Good Eggs raises $50 Million to rapidly expand

image credit : Good Eggs

Good Eggs, The online grocery and meal kit delivery service company which operates currently in The Bay Area has raised $50 million in a new round led by Benchmark Capital with other investors including Index Ventures and Obvious ventures to expand rapidly in The Bay Area which they decided to focus on after discontinuing its service in other markets 3 years ago.

The company which backed out from Los Angeles in its move 3 years ago will now return to the city with its services with much more better delivery options. The company now offers the "Same day" delivery option like many of its competitors and now delivers both beer and cocktail kits.

Good Eggs delivers fresh products which it gets from local farmers and then ships through its San Francisco warehouse at a very fast rate which ensures the product freshness and quality, They provide the best quality perishables to customers which gives them a competitive edge on par with other major players lik…

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Nikola Raises $250 Million At A $3 Billion Valuation

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's investment. For example, Nikola has made pla…

Rivian Raises $1.3 Billion In Additional Funding

Not long after raising $500 million from Ford and an additional $350 million from Cox Automotive, electric car startup Rivian has announced $1.3 billion in new funding led by T. Rowe Price, with participation from BlackRock and existing investors Ford and Amazon. The additional investment is the fourth Rivian has raised this year, and comes a few months after Amazon announced it'll purchase 100,000 vehicles from the company as part of plans to make its delivery fleet run on renewable energy.

The additional investment brings the total raised by Rivian this year to a whooping $2.85 billion. In a statement, Rivian founder and CEO RJ Scaringe praised the investment as demonstrating "confidence in our team, products, technology and strategy". With the investment, Rivian now stands as one of the top-most financed electric car upstarts in what seems like a crowded market.

Rivian plans to begin selling vehicles next year, which may explain the additional funding at the tail-end…

Apple Lowers Guidance For Fiscal 2019 First Quarter

Going by a recently released letter to investors by Apple CEO Tim Cook, The company has lowered revenue guidance for its fiscal 2019 first quarter which ended on the 29th of December, citing lower than expected iPhone sales in China and "emerging market challenges".

It now expects revenue of approximately $84 billion, a gross margin of approximately 38%, operating expenses of approximately $8.7 billion, other income/(expense) of approximately $550 million and a tax rate of approximately 16.5 percent before discrete items for this period.


In the letter, Apple CEO Tim Cook blames this on two key factors - "emerging market challenges" and lower than anticipated iPhone revenue, primarily in Greater China, the latter which it says accounts for all of revenue shortfall to guidance and more than its entire year-over-year revenue decline. Cook noted that sales outside of the iPhone (Services, Mac, iPad, Wearables/Home/Accessories) combined grew almost 19% from last year.

Darktrace Could Be Heading For An IPO

Darktrace, a U.K. cybersecurity startup that was valued at $1.65 billion after raising funding last year, could be looking towards a public offering, indicated by a closeness to naming a chief financial officer, Bloomberg reports. Companies looking to go public typically appoint a CFO, usually of high-profile, to take on the role of spearheading the company's finances in preparation for a voyage on the public markets. Also, with $231 million in funding and a high valuation to go along, Darktrace seems like a company that's ready to hit the public markets, especially if it's found stability in its business model.

In an interview, Darktrace co-founder and co-CEO Poppy Gustafsson said the company added about 400 employees in the past year, and expects to keep growing at a similar rate. However, she also noted that Darktrace hasn't made a firm decision regarding debuting on the public markets, and said the company doesn't require additional investment for its expansio…

Brief: Dropbox Soars On Q4 Result

File hosting company Dropbox just released its financial results for the fourth quarter ended December 31, 2019, reporting $446 million in revenue, up 19% from the same period last year. For the entire year, Dropbox recorded $1.66 billion in revenue, up 19% year-over-year. In light of the results, Dropbox shares rose as much as 16% during trading on Thursday.

As of 2019 end, Dropbox had 14.3 million paying users, compared to 12.7 million as of the end of 2018. Average revenue per user amounted to $125, compared to roughly $120 in the previous year. As of 2019 end, Dropbox had $1.16 billion in cash, cash equivalents and short-term investments, slightly more than $1.09 billion as of the end of 2018.

As for losses, Dropbox recorded $6.6 million in losses in 2019, down from $9.5 million in 2018.

Dropbox has also authorized up to $600 million in share repurchases, representing less than 7% of its market cap as of writing.





Intel Scoops Up Habana Labs For $2 Billion

Intel has announced it has acquired Habana Labs, an Israel-based startup that makes AI chips. The semiconductor giant is paying roughly $2 billion for Habana, one year after leading a $75 million Series B investment in the company. The acquisition represents another score for Habana co-founder and chairman Avigdor Willenz, a serial entrepreneur who previously founded and led Galileo Technology (acquired for $2.7 billion by Marvell Technologies) and Annapurna Labs (acquired for $350 million by Amazon). Unsurprisingly, both companies were chip makers, crowning Willenz as a whizz in the chip-making sector with sequential successful exits.

Prior to this acquisition, Habana had raised $120 million in funding from investors including Intel Capital, Battery Ventures, Bessemer Venture Partners and WRV Capital. As of November last year (when it last raised funding), Tel Aviv-based Habana had just over 120 employees. The company was founded in 2016, and maintains only two offices globally, one…

Meet goPuff, A Low-key Delivery Company Worth $1 Billion

The food-delivery market is one with intense competition. The likes of DoorDash, Uber Eats, Postmates, Deliveroo, Swiggy, Just Eat, Yelp Eat 24, and more are steadily competing for global market share while also raising huge funding. Just recently, Deliveroo raised $575 million in a round led by Amazon. DoorDash has also raised $600 million Series G funding at a $12.6 billion valuation.

Amid the intense battle, it turns out there's one hot startup that has stayed low key to avoid the eye of rivals, but it seems word is getting out. That low-key hot startup is goPuff, an on-demand delivery service that was valued at $1 billion last November (after an investment), according to regulatory filings reviewed by The Information. goPuff ships products to customers from centrally located facilities -- as opposed to direct pickup from stores -- in 81 U.S. cities.


The company -- based in Philadelphia -- stocks more than 3,000 products at its facilities which it then ships to customers who o…

Uber And Hyundai Debut Flying Taxi Concept

At this year's Consumer Electronics Show (CES), Korean auto manufacturer Hyundai and Uber unveiled a flying car concept that's aimed for use in the "Uber Elevate" initiative, an initiative that's targeted at aerial ridesharing with custom air taxis made by partners to enable that. Hyundai is the first automaker to join Uber Elevate, whose previous partners were all electric vertical takeoff and landing (eVTOL) aircraft manufacturers. Uber aims to launch an aerial ridesharing network by 2023, and has already partnered with seven aircraft makers to enable that.

Hyundai's new concept air taxi vehicle is dubbed "S-A1" and has specifications similar to that of previous electric vertical takeoff and landing (eVTOL) aircraft unveiled by other Uber Elevate partners. It'll be 100% electric, be piloted initially but with plans to later make them autonomous, and is designed with four passenger seats to allow riders board and disembark easily. It's des…

Cloudflare Files For IPO

Not long after a previous report that said Cloudflare was eyeing a September IPO, the San Francisco-based CDN provider has filed for that with the SEC, meaning an IPO next month may just be happening. Cloudflare's S-1 filing comes a decade after its first funding. The company recorded $192.7 million in 2018 revenue, but with an $87.2 million net loss. This is up from $135 million revenue in 2017 and a $10.7 million net loss for the same period.

In the first half of this year, Cloudflare recorded $129.2 million in revenue, but still with losses of $36.8 million. Other key takes from its S-1 filing include:
$94.4 million sales and marketing spend in 2018, up 54% from $62 million in 2017$54.5 million R&D spend in 2018, compared to $33.7 million in 2017Roughly $125 million in cash and cash equivalents as of Q2 end (June 30, 2019)74,000 paying customers as of Q2 endTwo million total [free and paying] customers408 paying customers with annual billings of more than $100,000 (as of Q2…

Reddit Has Begun Tests For Live Video Streaming

As confirmed by Reddit to Wired, the widely called "front page of the internet" has begun tests for live video streaming, marking a significant moment for what has been majorly a text-only platform. In its 14 year history, Reddit has grown from an initial link-sharing site to a destination for online discussion, news aggregation and web content rating. Reddit is so popular and widely used that it's the 14th most visited website globally, according to Alexa data.

Allowing live streaming on its platform shows Reddit is really keen on a turnaround since co-founder Steve Huffman re-joined the company in 2015. With most major social media platforms currently supporting live streaming, it's obvious that it's somewhat necessary for a widely used platform to support live video. Reddit is known for being an internet property with boatloads of user engagement. With the addition of live video streaming, it could be looking towards a spike in both [an already large] user en…