Industry News Update – Week of 2/5/2018

Last week, Airbnb's CFO left the company. Additionally, Airbnb decided to prolong its IPO plans until after 2018.

Adyen signed a deal with eBay to become the company's primary payment processing provider, with eBay citing Adyen’s more robust suite of payment tools as compared to PayPal, eBay's old payment processing provider.

Slack added Target, BBC, and E*Trade to its roster of more than 150 customers that use its enterprise platform.

The Information revealed that Buzzfeed held acquisition discussions with NBCUniversal last summer but the deal was speculated to have not progressed due to lack of agreement on purchase price.

Uber and Waymo's autonomous vehicle lawsuit is expected to go to trial on February 5th 2018. Waymo asked that Uber pay $1.4 billion for the theft of its autonomous vehicle design files.

The news articles and links presented below are available for your reference.

ADYEN

“Why EBay Abandoned PayPal for a Smaller European Competitor"

AIRBNB

“Airbnb Says No Listing in 2018, CFO to Leave, Names first COO"

BUZZFEED

"BuzzFeed’s News Headache"

SLACK

"Slack Adds Target, BBC, E*Trade as Clients in Enterprise Push"

UBER

“Here’s What You Need to Know About the Uber-Waymo Trial, Which Starts Today "

Industry News Update – Week of 1/22/2018

Adyen was preparing to select JPMorgan Chase & Co. and Morgan Stanley to underwrite its upcoming IPO. The company was planning to raise 1 billion euros and is expected to be valued between 5 billion euros to 10 billion euros in its IPO.

Instacart bought Unata, a Canadian shopping engagement platform, to spreadhead its expansion into Canada. The company’s goal is to provide its services to 80% of the Canadian population in the next 18 months.

Lyft released its 2017 Economic Impact Report where the company released several of its user metrics and related statistics. Lyft provided 375.5 million rides during 2017 which represents a 130% increase compared to the number of rides provided in 2016. The company offered its ride sharing services to 23 million different passengers during 2017, a 92% increase relative to the number of different passengers in 2016. Lyft had 1.4 million total drivers in 2017 which represents a 100% increase compared to its total number of drivers in 2016.

Spotify partnered up with eight media companies including Buzzfeed and Refinery29 to deliver its new "Spotlight" feature that offers political news podcasts. These podcasts will include visual elements along with audio to provide its users with an enhanced news broadcasting experience.

The news articles and links presented below are available for your reference.

ADYEN

"Tech Firm Adyen to Pick JPMorgan, Morgan Stanley on IPO"

INSTACART

"American Grocery Delivery Service Instacart Aims to Serve 80% of Canadians Within the Next 18 Months"

LYFT

"Lyft Says Nearly 250K of Its Passengers Ditched a Personal Car in 2017"

SPOTIFY

"Inside Spotify's Plan to Lure Listeners Away From Apple"

Industry News Update – Week of 1/15/2018:

Last week, Dropbox confidentially filed documents for its upcoming IPO that is expected to occur in the first half of 2018.

Xiaomi hired Goldman Sachs and Morgan Stanley to underwrite its upcoming IPO that is speculated to occur in the second half of 2018 with a $100 billion valuation.

Practice Fusion was acquired by Allscripts for $100 million which represents a steep discount compared to its expected $1.5 billion IPO valuation calculated by JP Morgan.

SpaceX planned to test its Falcon Heavy's engines on January 15th which signifies a step closer to the rocket's initial launch.

The news articles and links presented below are available for your reference.

DROPBOX

“Dropbox Files Confidentially for U.S. IPO"

PRACTICE FUSION

"Practice Fusion, Once Poised for a Blockbuster IPO, Sells at a Loss to Allscripts"

SPACEX

"SpaceX Will Test the Engines of the World's Most Powerful Rocket Today"

Xiaomi

"Xiaomi Taps CLSA, Morgan Stanley, Goldman for IPO Sponsor Role: Sources"

Industry News Update – Week of 1/8/2018

Last week, Spotify confidentially filed documents for its upcoming IPO that is expected to occur in Q1 2018. Spotify was also sued by Wixen Music Publishing for $1.6 billion for using thousands of songs without having the appropriate music licenses.

SpaceX is preparing for its initial Falcon Heavy launch by performing preflight tests while the rocket is positioned vertically on the launchpad. The Falcon Heavy is composed of three Falcon 9 boosters which are expected to lift more than twice the payload compared to other space vehicles.

Didi Chuxing acquired 99, a Brazilian ride-hailing company, for $600 million to expand its presence in South America where ride sharing is rapidly growing.

Softbank and several of its Uber co-investors acquired 18% of Uber in a tender offer where these companies purchased Uber shares from shareholders at a $48 billion valuation.

The news articles and links presented below are available for your reference.

DIDI CHUXING

“Didi Chuxing, China’s Ride-hailing giant, Said to Buy Uber Rival in Brazil"

SPACEX

"SpaceX Shows Off its Falcon Heavy Rocket Vertical on the Launchpad"

SPOTIFY

"Exclusive: Spotify Files for its IPO"

"Spotify is Being Sued by a Major Music Publisher for $1.6 Billion"

UBER

"SoftBank Has Successfully Acquired 15 Percent of Uber in a Major Victory for Both Companies"

Industry News Update – Week of 12/26/2017

Last week, Didi Chuxing raised $4 billion from Softbank to further expand its international presence and to advance its autonomous and electric vehicles initiatives. Following this funding round, the company's valuation increased to $56 billion.

Magic Leap disclosed details of its Magic Leap One "Creator Edition" to the public on December 20th. The product consists of a head-mounted visual display, handheld controller, and a power source attached to the hip with a belt. The product is expected to be available to consumers in 2018.

DocuSign acquired Appuri, a customer-engagement analytics company, to enhance its product experience and marketing conversations with customers by integrating Appuri's machine learning technology into its platform.

Xiaomi is expected to generate $1 billion in profits in 2017 and between $17 billion to $18 billion in revenue in 2017 which represents an 18% increase compared to the company's previous 2017 revenue target.

The news articles and links presented below are available for your reference.

DOCUSIGN

“DocuSign Acquires Tech Rights And Hires Team From Machine Learning Startup, Appuri"

DIDI CHUXING

"China's Didi Cashes Up to Go Global in Next Stage of Uber Battle"

MAGIC LEAP

"Magic Leap Shows Off Its Magic Leap One ‘Creator Edition’ AR headset, Shipping In 2018"

XIAOMI

"Exclusive: IPO Hopeful Xiaomi Set to Blow Past 2017 Revenue Target - Sources"

Industry News Update – Week of 12/18/2017:

Last week, Spotify's valuation rose to $19 billion after a series of private trades. This latest valuation is $3 billion higher than Spotify's last valuation that occurred in late September in a previous series of similar private trades.

Target bought Shipt, a grocery delivery startup, for $550 million to offer same-day grocery delivery to compete with Amazon's acquisition of Whole Foods.

Airbnb plans to provide virtual reality previews (360 photos and 3D scans) of its’ rental listings to assist users in finding suitable lodging accommodations.

SpaceX is getting closer to having a fully reusable rocket as the company recently launched a reused Dragon on top of a reused Falcon 9.

The news articles and links presented below are available for your reference.

AIRBNB

“Airbnb Wants To Offer Virtual Reality Previews Of Rental Spots"

SHIPT

"Target Is Acquiring Instacart Competitor Shipt For $550 Million To Fight Back Against Amazon"

SPACEX

"Spacex Launches A Reused Dragon Atop A Reused Falcon 9 For The First Time"

SPOTIFY

"Spotify's Valuation Has Jumped As High As $19 Billion In Advance Of A US IPO, Sources Say"

Industry News Update – Week of 12/11/2017

Shazam is in talks with Apple to be acquired for $400 million. Apple’s Music would utilize Shazam to generate subscribers through Shazam’s music recognition referrals.

Spotify and Tencent are buying minority equity stakes in one another to benefit from the growth of music in their respective markets.

Uber will need to wait until April 2018 to appeal Transport for London’s decision to ban its ride sharing service. The decision is significant as London is one of Uber’s largest municipal markets.

The news articles and links presented below are available for your reference.

SHAZAM

“Sources: Apple is Acquiring Music Recognition App Shazam"

SPOTIFY

“Spotify and Tencent Music Will Make Financial Investments in Each Other: Here's Why"

UBER

"Uber Will Have to Wait Until April 2018 to Appeal the Loss of its London Licence”

 

 

 

Industry News Update – Week of 12/4/2017

Last week, Xiaomi held discussions with investment banks to go public next year in Hong Kong with a $50 billion valuation.

WeWork and Dropbox acquired companies to enhance their products. WeWork bought Meetup, an online portal that allows people that have similar interests to join groups, to increase the scope of its product to allow people outside of work to connect. Dropbox acquired Verst, a website publisher, to further develop its product offering.

Softbank made a tender offer to buy Uber's shares at a $48 billion valuation which represents a 30% discount to the last round.

The news articles and links presented below are available for your reference.

DROPBOX

“Dropbox Acquires Verst Team, Publishing Platform Will Shut Down on Dec. 21"

UBER

“SoftBank Is Said to Offer to Buy Uber Shares at a Steep Discount"

WEWORK

"WeWork Buys Meetup to Bring People Together Outside of Work”

Xiaomi

"Xiaomi Seeks Valuation of at Least $50 Billion in IPO"

Industry News Update – Week of 11/27/2017

Last week, Lyft was raising an additional $500 million as an extension of its most recent funding round and received permits from California’s Department of Motor Vehicles to test its self-driving vehicles. Lyft was procuring an additional $500 million as part of its Series H funding round which has already raised $1 billion from Google. Following this funding round, the company’s valuation is expected to increase to $11.5 billion. Lyft also received approval from California’s Department of Motor Vehicles to test its autonomous vehicles on the public roads in the state of California.

Uber failed to disclose a massive data breach that occurred in October 2016 that presented two hackers with personal information on 57 million accounts such as the passenger’s name, email address and mobile phone numbers. The company paid these two hackers $100,000 to hide this data breach. Following the launch of a federal investigation from the New York attorney general, Uber fired its Chief Security Officer and Deputy.

Instacart workers in several cities have gone on strike to oppose their low hourly wages which in some cases have been as low as $1 per hour. These workers want Instacart to revise their compensation structure to address larger orders and make tipping more apparent.

The news articles and links presented below are available for your reference.

INSTACART

“Instacart Workers are Striking Over Wages Reportedly as Low as $1 an Hour"

LYFT

“Lyft Raising Additional $500 Million on Top of Recent $1 Billion Round”

“Lyft Gets Approval to Test Self-driving Cars on Public Roads in California”

UBER

"Uber Paid Hackers $100,000 to Keep Secret a Massive Data Breach In 2016”

Industry News Update – Week of 11/20/2017

Last week, Airbnb, Lyft and Spotify acquired several companies to enhance their platform offerings in the adtech, mobile development, and music development fields. Airbnb purchased AdBasis, a digital advertising analysis company, to test and optimize its ads on its platform. The company also acquired Accomable, a platform that helps to connect lodging to people with disabilities, to increase the number of wheelchair-accessible listings and to provide comprehensive listings for people with disabilities. Lyft bought Kamcord, a mobile game streaming company, to enhance its passenger pickup and driver features. Spotify acquired Soundtrap, a collaborative recording platform, to allow its artists to create music using Soundtrap's toolkit.

Pinterest released its Pincodes feature that scans QR-codes as an extension its Lens feature to allow users to browse through similar products. This feature is expected to be used on packaging and ads to increase customers’ awareness of the products available for purchase on Pinterest.

Buzzfeed revealed that the company's expected 2017 revenue target of $350 million will likely be missed by 15% to 20%. The expected revenue decline along with increased expenses due to expansion has resulted in speculation that Buzzfeed's IPO could be postponed until after 2018.

Uber intends to purchase 24,000 self-driving cars from Volvo to compete with Lyft in the autonomous vehicle sector.

The news articles and links presented below are available for your reference.

AIRBNB

"Airbnb is Buying a Startup That Offered Similar Home Rental Services for Disabled Travelers"

“Airbnb Acquires Ad Tech Startup Adbasis"

BUZZFEED

"Buzzfeed Unlikely to go Public Next Year as Revenue Falls up to 20% Short of Forecast, Report Says"

LYFT

“Lyft Acquihires the Kamcord Team for Engineering Talent"

PINTEREST

"Pinterest Launches Colorful Pincodes That Link to Fashion and Food Boards"

SPOTIFY

"Spotify Acquires Online Music Studio Soundtrap as it Goes After Creators"

UBER

"Uber Set to Buy Self-Driving Cars from Volvo, Rivaling Lyft's Fleet"

Industry News Update – Week of 11/13/2017

Last week, Lyft announced plans to initiate its international expansion by launching its services in Toronto in December 2017.

Musical.ly was acquired by Bytedance, Chinese company that operates Toutiao (news outlet and social media platform), for a purchase price between $800 million and $1 billion.

SpaceX’s Merlin engine caused a massive explosion during a test flight. The company launched a failure investigation and plans to continue its upcoming launches.

Uber’s board has reached an agreement on the terms of Softbank’s upcoming $10 billion investment.

A few weeks ago, Uber released a credit card for Millennials to track their points which can be used to pay for rides. Credit card subscribers can obtain a select percentage back from their purchases that can be converted to points. Users can obtain a $100 sign up bonus for spending $500 during their first 90 days.

The news articles and links presented below are available for your reference.

LYFT

“Lyft’s First Market Outside the U.S. Will be Canada With a December Launch in Toronto”

Musical.ly

“China’s Toutiao is Buying Musical.ly in a Deal Worth $800M-$1B"

SPACEX

"SpaceX Rocket Engine Explodes During Test at Texas Facility"

UBER

"Uber Board Strikes Agreement to Pave the Way for SoftBank Investment"

"Uber's New Credit Card Targets Millennials"

Industry News Update – Week of 11/6/2017

Last week, Didi Chuxing announced plans to construct a vast charging network for electric cars as roughly 260,000 out of Didi Chuxing’s 21 million drivers use electric cars. The company anticipates that its electric vehicle fleet will increase to 1 million by 2020. Didi Chuxing could expect significant business from the Chinese public in the future from this project because the Chinese government stated plans in September 2017 to eventually ban gasoline-fueled cars to combat widespread air pollution.

Grab reached a major milestone on October 26, 2017 by surpassing 1 billion overall rides.

As of November 1 2017, Robinhood surpassed 3 million overall users, reached $100 billion in cumulative transaction volume and saved its users $1 billion in overall trading fees. The company also launched Robinhood for Web, an online platform with extensive research capabilities and stock discovery tools.

Stripe has launched a feature within its Atlas platform to assist in the allocation of stock equity among founders by drafting the legal paperwork. By default, this new feature reserves 20% of the company’s stock pool to its early employees and investors but can be easily modified to include complex equity structures such as vesting periods.

DIDI CHUXING

"The World's Biggest Ride Company is Building an EV Charging Network to Cover China"

GRAB

“Uber Rival Grab Crosses 1 billion Rides in Southeast Asia"

Robinhood

"Robinhood Stock Trading Comes to Web with Finance News for its 3M users"

STRIPE

“$9 Billion Startup Stripe is Automating the Complicated Process of Doling Out Stock to Company Cofounders"

Industry News Update – Week of 10/30/2017

Last week, Forescout’s IPO raised $161 million and the company was valued at $806 million. Forescout’s shares closed at $23.50 on its first day of trading which represents a 6.82% increase compared to its original share price.

Delphi purchased nuTonomy, autonomous vehicle startup, for $450 million to further develop and deploy its self-driving technology.

Grab hired Theo Vassilakis as its new CTO after its VP of Engineering quit this past summer. Vassilakis previously worked at Google as an Engineering Director and held various software development roles at Microsoft.

Uber was sued by three employees who claimed that they were underpaid due to their race and gender.

The news articles and links presented below are available for your reference.

GRAB

"Uber Rival Grab Finally Fills its CTO-sized Hole with Former Googler"

FORESCOUT

“This Security 'Unicorn' Raised $116 Million in an IPO Priced Below Its Last Valuation”

NUTONOMY

"Delphi Buys Self-Driving Car Startup NuTonomy for $450 Million"

UBER

“Uber Sued For Alleged Racial, Gender Discrimination"

Industry News Update – Week of 10/23/2017

Last week, MongoDB's IPO raised $192 million and the company was valued at $1.18 billion. MongoDB’s shares closed at $32.07 on its first day of trading which represents a 34% increase compared to its original share price.

Stitch Fix, San Francisco-based clothing subscription company, filed for its IPO and plans to be listed on NASDAQ with "SFIX" as its ticker. This upcoming deal is being underwritten by Goldman Sachs and J.P. Morgan.

Lyft raised $1 billion from Google to further develop its autonomous vehicle technology. The post-money valuation of the round was $11 billion.

Grab raised $700 million in debt to increase the number of drivers on its platform by buying vehicles for its drivers to lease.

WeWork bought Flatiron School, a platform that offers coding classes, to allows its members to enhance their coding skills and further develop their resumes.

The news articles and links presented below are available for your reference.

GRAB

"Grab Raises $700M in Debt to Add More Drivers to its Ride-hailing Service in Southeast Asia”

LYFT

“Alphabet Leads a $1 Billion Investment in Lyft”

MONGODB

"MongoDB Finishes up 34% in Database IPO”

STITCHFIX

“Stitch Fix, With Nearly $1 Billion In Sales, Files For An IPO"

WEWORK

“WeWork Acquires Flatiron School"

 

Industry News Update – Week of 10/16/2017

Last week, HelloFresh, a Berlin-based meal kit delivery service, announced its intent to raise $353 million in its IPO on the Frankfurt Stock Exchange and is expected to be valued at $1.8 billion when the company goes public later this month.

The Information reported Spotify’s mid-year financials on October 12th 2017. The company earned $2.2 billion in revenue during the first half of the year and is expected to earn $4.9 billion in 2017. The company's losses were between 100 million to 200 million euros in the first half of 2017.

Spotify also launched a real-time music-streaming and audience analytics mobile app for its music artists called Spotify for Artists. This app will allow music artists to view the number of streams of their new singles and albums in real-time and obtain critical information about their audience such as gender, location, age and more.

Lyft reached a major milestone on October 11, 2017 by surpassing 500 million overall rides.

SpaceX successfully launched two Falcon 9 rockets in 3 days. The company launched the SES-11/EchoStar 105, a satellite intended to provide HD and Ultra HD television service across US, and the 10 Iridium NEXT satellites, satellites intended to provide broadband to remote regions across the world,  into orbit. So far, the company has completed 15 launches in 2017.

The news articles and links presented below are available for your reference.

HELLOFRESH

"Blue Apron Competitor HelloFresh planning to Raise up to $353 Million in IPO"

LYFT

“Lyft has Now Delivered Half a Billion Rides"

SPACEX

"SpaceX Successfully Launches 2nd Rocket in 3 days"

SPOTIFY

“Spotify Launches an App for Artists With Real-time Streaming Data, Audience Demographics"

“Spotify Records Surging Revenues, Continued Losses in First Half of 2017"

Industry News Update – Week of 10/9/2017

Last week, Ola, the India-based ride hailing company, received $2 billion in a funding round led by Softbank and Tencent. The use of proceeds is primarily for the purpose of further development of Ola’s electric vehicle technology. The post-money valuation of the round was $3.8 billion.

Shazam disclosed its 2016 financials in which the company increased its revenue by 14.5% to £40.3m ($53.7m) in 2016. The company reduced its net loss from £16.7m ($22.2m) in 2015 to £3.7m ($4.9m) in 2016.

Stripe launched its new Elements feature which allows companies to create a tailored checkout process. This new feature is intended to reduce shopping cart abandonment by enhancing the checkout procedures.

Airbnb partnered up with WeWork to allow business travelers to easily reserve a WeWork location in order to solicit more business from business travelers.

The news articles and links presented below are available for your reference.

AIRBNB

"Airbnb Will Offer Business Travelers Spots at WeWork Locations"

OLA

“Cab Aggregator Ola Raises $2 Billion from Tencent, Softbank"

SHAZAM

"Financials Reveal Shazam Narrowed its Losses to £3.7m in 2016"

STRIPE

"Elements, Stripe’s New Check-out Toolkit, Aims to Boost E-commerce Sales Completions"

Industry News Update – Week of 10/2/2017

Last week, Roku's IPO raised $219 million and the shares were priced at $14. Roku's shares opened at $15.78 and closed at $23.50 on its first day of trading which represents a 68% increase compared to its original share price.

Meituan-Dianping raised $3 billion to increase its offline retail offerings such as an offline store where customers can purchase grocery items using the company’s app. This push in the offline retail market will help the company compete with Alibaba’s brick-and-mortar stores. As a result of this funding round, the company's valuation rose to $28 billion.

Uber's CEO planned to meet with the Transport for London commissioner this upcoming Tuesday (10/3/2017) to discuss the company's license withdrawal.

Spotify's valuation rose to $16 billion after a series of private trades. This latest valuation is $3 billion higher than Spotify's last valuation that occurred in June in a previous series of similar private trades.

TaskRabbit was acquired by IKEA for an undisclosed price to assist customers in assembling their IKEA furniture. IKEA hopes to compete with Amazon which has bolstered its home installation offerings. Following the acquisition, TaskRabbit will operate as an independent subsidiary of IKEA.

The news articles and links presented below are available for your reference.

MEITUAN-DIANPING

"Tencent-Backed Meituan Close To $3 Billion-Plus Funding"

“China's Meituan-Dianping Aims To Raise Up To $5 Billion From Tencent, Others: Source”

ROKU

“Roku Closes Up 68% In Stock Market Debut"

SPOTIFY

"Spotify Is Now Valued At $16 Billion — And It Could Be Worth A Lot More When It Goes Public"

TASKRABBIT

"IKEA’s Latest Acquisition Will Help Assemble Your Ikea Furniture"

UBER

"Uber CEO To Meet London Transport Chief After License Loss"

Industry News Update – Week of 9/25/2017:

Last week, Uber’s operating license was withdrawn by the City of London after London officials cited Uber’s failure to address serious crime and perform thorough driver background checks. Uber’s new CEO drafted an open letter to the London officials that addresses outstanding issues and mistakes the company has made to advocate Uber’s petition asking for a reversal of its license withdrawal. London is a large market for Uber as the city represents roughly 5% of Uber’s userbase.

In its ongoing lawsuit with Uber, Waymo is asking for $2.6 billion from Uber for the theft of its autonomous vehicle design files. The trial is expected to start on October 10th 2017.

Didi Chuxing invested $200 million in Renrenche.com, used cars company, to provide Didi’s mobile app users with access to second-hand vehicles. 

SpaceX has officially named its low-cost satellite Internet network ‘Starlink’ and is actively hiring skilled professionals for this project.

Pinterest is beta-testing its new Sections feature which allows users to divide their boards into various subcategories. This new feature is intended to assist Pinterest users organize their pins.  For example, a user with a board composed of recipes can places their pins in the Salad, Soups, Dessert and Pasta categories.

The news articles and links presented below are available for your reference.

DIDI CHUXING

“China’s Used Car Deals Speed Up As Didi Chuxing Invests $200M In Renrenche.com”

PINTEREST

"Pinterest’s New Sections Feature Begins Beta testing, Public Launch in ‘Weeks’”

SPACEX

“SpaceX Might Name its Satellite Broadband Internet Service ‘Starlink’”

UBER

"Uber Tries Compromise With London Regulators”

“Uber CEO Apologizes for “Mistakes” After London License Blow”

“Waymo Wants $2.6 billion From Uber for a Single Trade Secret”

Industry News Update – Week of 9/18/2017

Last week, SoFi's CEO announced he is resigning at the end of 2017 following his participation in and lack of supervising several instances of sexual harassment between managers and female colleagues in an ongoing lawsuit. The lawsuit was brought up by an employee who claims that he was terminated from the company for reporting these sexual harassment occurrences.

On September 14th 2017, Pinterest reached 200 million monthly active users which represents a 14.3% increase when compared to the 175 million monthly active users in April 2017.

Slack's valuation rose to $5.1 billion after the company raised $250 million in a funding round led by Softbank. The company released its cross-organization teams feature which allows team members of different departments to work with one another within the company's platform. The company also has surpassed 6 million daily active users and generated more $200 million in annual recurring revenue.

Magic Leap is raising more than $500 million to further develop its prototype. After this funding round, the company's valuation is expected to rise to $6 billion. The product is expected to be priced between $1,500 and $2,000.

Lyft is in discussions with Alphabet to raise $1 billion to further develop its autonomous vehicle technology.

The news articles and links presented below are available for your reference.

LYFT

“Alphabet Reportedly Considers a $1 Billion Lyft Investment”

MAGIC LEAP

"Magic Leap is About to Land Another $500 Million to Build its Competitor to Microsoft HoloLens"

PINTEREST

“Pinterest Crosses 200 Million Monthly Active Users"

SLACK

"With More Than 6M Daily Users, Slack Opens up Cross-organization Teams"

“Slack is Officially Worth $5.1 Billion After Raising a Monster $250 Million Round”

SOFI

"SoFi Board Says C.E.O. Is Out Immediately Amid Sexual Harassment Scandal"

Industry News Update – Week of 9/11/2017

Last week, it was announced that Uber is under FBI investigation for using its Hell program to track Lyft drivers’ activities such as pricing, availability and dual-app usage.

23andMe is raising $200 million from Sequoia and Fidelity to enhance its genetic research and create new products. The company’s valuation is expected to increase to $1.7 billion.

Spotify and Hulu have teamed up to offer their services as a bundle to students for $4.99 per month.

Magic Leap partnered with Berkeley Labs to release a research paper that discusses using advanced metamaterials that redirect light to create digital lightfields. This research will assist Magic Leap in developing its upcoming product.

The news articles and links presented below are available for your reference.

23ANDME

"23andMe is Raising About $200 Million, Led by Sequoia"

MAGIC LEAP

“ Berkeley and Magic Leap Worked Together to Develop a New Metamaterial”

SPOTIFY

“Spotify, Hulu Team up for Low-priced $4.99 Student Plan"

UBER

"FBI Will Investigate Uber's Use Of 'Hell' Software To Surveil Lyft Drivers"