Tag Archives: Stocks

On Thursday, after Facebook announced its new Threads app, Snap Inc. (SNAP) stock fell up to 7%. Facebook’s latest attempt to clone features already being used by Snapchat is only one of many, which has since pitched both social media giants together in the public eye.Even though Threads is a stand-alone app, it allows users already on Instagram to exchange status updates and media including photos and videos, to specific people who make up their “close friends”, an Instagram feature which...

Photo: Taboola / TwitterAdvertising company Taboola and its competitor, web advertising platform Outbrain announced they are merging, forming one company. Even though this is a mutual company, it will nevertheless be called Taboola, and Taboola’s founder Adam Singolda will act as its CEO.Taboola is said to pay Outbrain investors $250 million in cash plus a 30% share of the combined companies.The main goal is to widen its customer list that should now have more than 20.000 online properties...

The Forbes list of America’s richest people is out again! Jeff Bezos is still at the top with an estimated fortune of $114 billion. Despite last years’ expensive divorce which saw him give away about 4% of the total company’s value or ($38.3 billion) to his wife McKenzie in July when the marriage was officially dissolved, Jeff remains at the top of Forbes richest 400 with ownership of 12% of the technology giant.Apart from the stake in Amazon, the Bezos own several other properties and assets...

California based bank and stock brokerage firm Charles Schwab said that it is finally ending its battle in the brokerage sector. They decided they are ending commissions for online trading in U.S. stocks, exchange-traded funds, and options.Just for a reminder, in the February of this year, together with Fidelity Investments, Charles Schwab completely cut its commissions it had been charging on hundreds of their exchange-traded funds. The ongoing war was all about exciting the investors since...

Tech giant Tesla announced buying of DeepScale, a computer vision start-up that the company hopes to help in further evolving of fully driverless vehicles.This acquisition, Tesla hopes, will help the company in their focusing on delivering cars with evolved driver-assistance systems that would be optimal for owners to put them in the traffic acting as “robotaxis” on an Uber-like platform without drivers.Still, as most of the car producers, Tesla is pretty much bounded with arithmetic...

Facebook has been having a tough battle dealing with regulators and government agencies since the launch of its Libra cryptocurrency. In the recently leaked audio recordings obtained by The Verge, Mark Zuckerberg threatens to take the U.S. government to the courts if the Democratic Party presidential candidate Elizabeth Warren comes to power and tries to break big companies like Facebook into smaller entities.Note that breaking Big Tech is one of the major promises of Elizabeth Warren’s...

The We Company, WeWork’s parent company, has officially moved to withdraw its S-1 filing, with the intention of postponing its earlier announced and widely talked about initial public offering (IPO). The company’s intention to go public was initially announced on the 14th of August but has gotten a lot of backlash since then, especially because of the company’s governance structure.WeWork has been consistently criticized for not just its governance structure, but also the company’s staggering...

Back in 2016, e-commerce giant Amazon announced its plans to establish a large chain of convenience stores in the United States. Called Amazon Go, the stores are mostly automated and run on computer vision, deep learning algorithms and sensor fusion without cashiers, allowing customers to grab items they need to from the store, and simply walk out.Since inception, Amazon has opened 16 Amazon Go stores with several of them in Washington, Illinois, California and New York and the company still...

Recently Overstock and its former CEO Patrick Byrne have recently made a lot of headlines. The main reason for that is that Patrick Byrne left the company with a big bang, sold all his equities and didn’t keep it a secret that he had invested in Bitcoin and gold.Now, an investor from Canada – Benjamin Ha, has filed a complaint with the United States Securities and Exchange Commission (SEC) alleging that between May 9 and September 23, 2019, Overstock published “materially false and misleading...

Chinese social media and gaming company Tencent Holding Ltd. took a 29% stake in computer games maker Funcom.With this step, Tencent became Funcom’s largest shareholder and the shares it bought were from KGJ Capital AS.Funcom went through its most profitable year in history and had signed an exclusive partnership with Legendary Entertainment to create a minimum of three Dune games for PC and consoles.Funcom CEO, Rui Casais said:“We are very pleased to see Tencent come in as the largest...