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Quibi Reportedly Planning Up To $1 Billion Raise

According to a report from The Information, Quibi -- the mobile video streaming service led by Hollywood veteran Jeffrey Katzenberg and former HP and eBay CEO Meg Whitman -- is planning to raise up to $1 billion, months after a $1 billion raise August last year. Current investors in Quibi include the likes of Alibaba, Goldman Sachs, JPMorgan Chase, Sony Pictures, Viacom, Disney, 21st Century Fox, NBCUniversal, and Warner Media.

Some of Quibi's investors also double as strategic partners. Based out of Los Angeles, Quibi's service -- a mashup of Netflix meets YouTube -- is expected to launch next year, according to CEO Jeffrey Katzenberg. Katzenberg had previously told Variety that he was seeking to raise $2 billion for Quibi, entailing the report of an additional $1 billion raise is not quite far-fetched.


Quibi is focused on short-form videos of under 10 minutes or so in length that'll be made available on its app. Katzenberg has a long history and expertise in film-making…
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SF Probe Into Uber Driver Violations Gets Court Stamp

A California appeals court has rejected Uber's appeal to a ruling by the city of San Francisco to hand over data about how many of its drivers are responsible for safety hazards, illegal parking and traffic congestion. The city of San Francisco is requesting the information for a probe that's partly based on a police department study that showed that car services such as Uber's are behind 65% of violations of driving in and obstructing bicycle and transit lanes, illegal U-turns and failing to halt for pedestrians.

The probe is also seeking to ascertain if Uber is underpaying its drivers in violation of the city's minimum wage laws. Uber in defence is arguing that the requested information was adequately provided to the California Public Utilities Commission, a state regulatory agency, and shouldn't be handed to San Francisco City Attorney Dennis Herrera.


"We do not and cannot know at this juncture what the City Attorney will choose to pursue, let alone whethe…

Investors Sue Lyft Over IPO

Some investors have filed a legal case against Lyft in a San Francisco court over its IPO, after a 30% fall from its debut price. The investors are claiming false and misleading information inflated Lyft's stock price which have led to losses after its decline.

The suit claims Lyft mis-informed investors about its labor matters, bicycle safety issues and its position in the ride-hailing market. Some Lyft executives and bank underwriters are named as defendants in the lawsuit.


Lyft shares are currently trading at about $54 (as of writing), down from a $72 debut price. The company recently reported quarterly losses of  $1.14 billion on $776 million revenue although the bulk of losses were due to stock-based compensation.

Just like Lyft, it's counterpart Uber also had a rocky IPO, sliding down about 13% some moments after its debut.



Ford Makes Two Recalls In North America

Ford has issued two safety recalls in North America involving select 2019 Ranger vehicles and select 2013-16 Fusion vehicles with 2.5-liter engines. The recall affects roughly 2,500 Ranger vehicles and 270,000 Fusion vehicles in the North American region.

The issue at hand regarding the Ranger models are two fasteners that secure the vehicle's transmission shift cable bracket to the transmission housing while that of the Fusion models involve a shifter cable bushing issue (bushing that attaches the vehicle's shifter cable may degrade and detach from the transmission on affected vehicles). The latter could result in unintended vehicle movement during driving.


Ford has not identified any accidents or injuries regarding the Ranger's fault but is aware of three reports alleging property damage and one alleging injury potentially related to the Fusion's fault. The affected vehicles are spread across the US, Canada and Mexico but with most based in the US.



Zipline Valued At $1.2 Billion With $190 Million Round

According to CNBC, Zipline -- the drone delivery startup known for its medical deliveries in Rwanda and Ghana -- has been valued at $1.2 billion with a $190 million investment. The investment is said to include a previously unannounced $70 million round closed in Spring 2018. Investors in this round include The Rise Fund, Baillie Gifford, Temasek, GV, and Goldman Sachs.

CEO Keller Rinaudo tells CNBC that the funding will allow the company expand its drone delivery service into the U.S and also set up 2,600 delivery hubs at healthcare facilities in Rwanda and Ghana. Zipline's drones -- which are assembled and tested in the U.S. -- are capable of carrying up to 1.75 kg of cargo, have a round trip range of about 160km and can fly at up to 110km/h in all weather.


The company launched in Rwanda three years ago and just got into Ghana April this year. With this funding, Zipline is also anticipating expansion across Africa, Southeast Asia, South Asia, and the Americas.



DoorDash Reportedly Raising At $10B-$12B Valuation

Just months after raising $400 million at a $7.1 billion valuation, DoorDash is raising new funding that could value it at between $10 billion to $12 billion according to The Information. This would catapult the delivery company into an exclusive club ($10 billion+ valuation) with quite few members such as DJI, Palantir, Stripe, Grab, Juul Labs, WeWork, and Bitmain.

There's no word on the amount being raised by the company. DoorDash has already raised $1.4 billion in funding according to Crunchbase data from a host of investors including Softbank Vision Fund, DST Global, GIC, Coatue Management, Sequoia Capital, and Wellcome Trust. Since its inception in 2013, DoorDash has grown to operate in 4,000 cities across all 50 states in the U.S. and Canada.


If this reported round stands true, DoorDash will join a list of other companies that have raised huge funding as of late. They include Deliveroo ($575 million Series G led by Amazon), Away ($100 million at $1.4 billion valuation), Nex…

HPE To Acquire Cray For $1.3 Billion

Hewlett Packard Enterprise (HPE) has agreed to acquire Seattle based publicly traded supercomputer manufacturer Cray for $35 per share, amounting to a roughly $1.3 billion deal. HPE is paying a 17.4% premium to Cray's Thursday closing stock price of $29.81. The acquisition is subject to regulatory approvals and is expected to close in HPE's fiscal year 2020.

Cray is exiting to HP after its founding -- as Cray Research -- way back in 1972. The Seattle based company had $456 million revenues in its most recent year and currently employs 1,300 persons worldwide. The company counts a leadership position among the top 100 supercomputer installations globally. Cray -- notably -- was recently part of a $600 million 'Exascale' supercomputer contract for the U.S. Department of Energy’s Oak Ridge National Laboratory.


The company was also part of a contract along with Intel to build a $500 million supercomputer for the U.S. Department of Energy’s Argonne National Laboratory. Its…

Angela Ahrendts Joins Airbnb's Board

Airbnb has added former Apple retail chief and ex Burberry CEO Angela Ahrendts to its board. She'll serve as the company's third independent non-affiliated board member, the other two being former American Express CEO Ken Chenault and former Pixar Studios CFO Ann Mather (who also serves on the boards of Netflix, Alphabet, Arista Networks, Glu Mobile and Shutterfly).

Ahrendts led global retail at Apple for five years before stepping down this year to be replaced by three decade running Apple Veteran Deirdre O’Brien. Prior to Apple, she spent eight years as CEO of British luxury brand Burberry. She also spent 25 years in New York as an executive at fashion brand Liz Claiborne and as President of Donna Karan International prior to Burberry.


Other notable Airbnb board members include LinkedIn co-founder Reid Hoffman, Sequoia's Alfred Lin, Andreessen Horowitz's Jeff Jordan, and co-founders Joe Gebbia, Brian Chesky, and Nathan Blecharczyk.



Deliveroo Raises $575 Million Round Led By Amazon

Deliveroo has raised $575 million Series G funding led by Amazon, with participation from existing investors Greenoaks, T. Rowe Price, and Fidelity Management and Research Company. This boosts the company's total funding to $1.53 billion. The new funding will be completed in coming months, subject to regulatory approvals.

Deliveroo says it'll make use of the investment to grow its engineering team based in its London headquarters, expand its reach, develop new products for customers, and bring about new 'innovations' in the food sector. "This is great news for the tech and restaurant sectors, and it will help to create jobs in all of the countries in which we operate." Deliveroo CEO Will Shu said in a statement.


Founded in 2013 by William Shu and Greg Orlowski, Deliveroo has grown to operate in over 500 towns across 14 markets. The company works with 80,000 restaurants and 60,000 riders to deliver food across markets it operates in. It currently employs 2,50…

Virgin Hyperloop One Seeks Up To $225 Million

Virgin Hyperloop One -- a company with ambitious transportation goals and like its name suggests, once counted Virgin founder Richard Branson as its chairman -- has raised $172 million in new funding according to new filings and is seeking up to $224.5 million in this round, as first reported by Crunchbase News. Dubai port operator DP World (an existing investor) provided at least $90 million for the round, which has seen contributions from 80 investors.

Virgin Hyperloop One first secured funding for this round on the 29th of April 2019 according to filings. The company has already raised nearly $300 million in funding prior to this round. Virgin Hyperloop One is based in Los Angeles and was founded by Josh Giegel and tech investor Shervin Pishevar (Pishevar who previously served as its executive chairman was ousted in late 2017 over allegations of sexual misconduct).


The company has had quite a share of controversies, including the arrest of former Co-Executive chairman Ziyavudin Ma…

Amazon Debuts Fire 7 Kids Edition

Amazon has unveiled a new tablet -- the Fire 7 Kids Edition -- that features a new kid-proof case and an adjustable stand for easy, hands-free viewing. Coming in blue, pink, and purple color options, The new tablet retails for $100 and is already available for pre-order. Features of the Fire 7 Kids Edition includes:
16 GB of storage.Up to 512 GB of expandable storage (via a microSD card slot).Support for up to two adult profiles (accessible with secured PIN access).One year of Amazon FreeTime Unlimited.Parental controls like age filters, restriction of screen time by categories, restriction of total screen time, setting of time limits by weekdays and weekends, addition or removal of content, enabling/disabling of web browser, and setting of daily content goals.

The new tablet will begin shipping on the 6th of June. It's also available in a two-pack option that'll cost $150.



Lilium Unveils Five-Seater Jet

Lilium, a Munich based startup with $100 million in funding that's developing electric vertical take-off and landing jets has unveiled a new five-seater all-electric aircraft prototype and announced a completion of its first maiden flight in German skies. The new aircraft dubbed Lilium Jet is powered by 36 all-electric jet engines that Lilium says allows it to take-ff and land vertically, "while achieving remarkably efficient horizontal, or cruise, flight."

The new prototype has a quite simple design, with no propellers, no tail, no gearbox, and no rudder. Lilium says this "contributes to the safety and affordability of the aircraft" and also leaves room for customer-oriented features like panoramic windows and gull-wing doors.


The Lilium Jet features a top speed of 300km/h and can go 300km on full charge. It first took to the air at 08.03 local time on 4th May 2019 in Germany, after "extensive ground testing" at Lilium's Munich headquarters. The…

VMware Acquires Bitnami

VMware has announced it's acquiring Bitnami, a Y Combinator alum that provides application packaging solutions. Bitnami had raised just $1.1 million from YC and some angel investors. The acquisition price was not disclosed. Based in San Francisco, California, Bitnami's platform delivers and maintains more than 130 server applications and development environments in partnership with cloud providers like Amazon, Oracle, Microsoft, and Google.

VMware says Bitnami's application packaging solutions will help its customers simplify the deployment of applications in public or hybrid cloud environments. The startup's solutions will also complement VMware's existing efforts to deliver a curated marketplace to its customers that offers applications and development environments in addition to infrastructure software.

Bitnami's customers include the likes of Disney, Electronic Arts, UPS, eBay, Rakuten, Comcast, Verizon, Gap, Accenture, Walmart, PayPal, Atlassian, Evernote…

Boosted Debuts A Scooter

Boosted, the company known for its lineup of electric skateboards, has debuted a new product, this time not a new skateboard, but an electric scooter. The new scooter, Boosted Rev has been made available for pre-order. This debut comes a few months after Boosted raised $60 million in Series B funding led by Khosla Ventures.

Features of the Boosted Rev include:
24 mph top speed.22 miles range.LED display.Electric brakes.Custom folding mechanism.A Throttle Wheel -- that allows for one-handed acceleration and braking by a roll of the thumb.


Boosted claims the new scooter was put through "rigorous mechanical, electrical, and environmental tests that greatly exceed industry standards for light electric vehicles". The Boosted Rev retails for $1,600 and will begin shipping in and outside the U.S. by summer.



Volvo Inks EV Battery Deals With CATL And LG Chem

Volvo has announced it has entered agreements with China's CATL and LG Chem for the supply of lithium ion batteries that'll be used in its electric vehicles. The deal covers global supply of battery modules for all models to be built on Volvo's SPA2 and CMA modular vehicle platforms. If CATL sounds familiar to you, it may be because Tesla was also reported to be in talks with the company for battery supplies.

Contemporary Amperex Technology Ltd. (CATL for short) is one of the world's largest lithium-ion battery producers. The company has grown from inception in 2011 to currently employing more than 15,000, with $4.4 billion in 2018 revenue. Likewise, LG Chem is one of the top ten chemical companies globally.



In 2017, Volvo announced that all of its new vehicles launched from 2019 will be electrified. The Swedish automaker also says it aims for electric vehicles sales to make up 50% of its global sales volume by 2025. Volvo is currently building its first battery assem…

CrowdStrike Files For IPO

CrowdStrike -- a cyber-security company valued at $3 billion from a last year round -- has filed with the SEC to go public, joining the likes of Slack, Fastly, and Postmates which have also filed to hit the public markets this year. According to Crunchbase data, CrowdStrike has raised a total of nearly $500 million in funding.

Below are some key takes from its IPO filing:
$250 million in revenue -- for the year ended January 2019 -- albeit $140 million in losses. Revenue is up from $52.7 million in 2017 and $118.7 million in 2018. Losses grew from $91.3 million in 2017 to $135 million in 2018.$88.4 million current cash and cash equivalents, compared to $63.1 million in 2018.2,516 subscription customers in 2019, compared to 1,242 in 2018 and 450 in 2017.$172.7 million sales and marketing spend in fiscal 2019, compared to $104.3 million in 2018, and $53.7 million in 2018.$58.9 million R&D spend in 2018, compared to $39.1 million in 2017.$44.9 million compensation for CEO George Kurt…

Samsung Launches Apple TV And AirPlay 2 On TVs

Samsung has issued a firmware update that'll make the new Apple TV app and AirPlay 2 support available on its 2019 model smart TVs and select 2018 models. Apple TV will be available on its smart TVs in more than 100 countries while AirPlay 2 support spreads to 176 countries. This entails users of Samsung's Smart TV platform can now launch Apple TV via a simple icon to access their iTunes movies and TV show purchases.

When Apple TV+ launches this fall, users will be able to gain access to the host of new content from the likes of Oprah Winfrey, Steven Spielberg, Jason Momoa, and Octavia Spencer being launched by Apple. For now, users can subscribe to channels within the Apple TV app, paying for only the ones they want and watching directly via the app.


The Apple TV app will work together with Samsung Smart TV services like Bixby, Search and Universal Guide. Also, with AirPlay 2 support, users are now able to play content from their iPhone, iPad or Mac directly on their Samsung…

Away Raises $100 Million At $1.4 Billion Valuation

Away -- the popular New York headquartered luggage travel brand -- has raised $100 million Series D funding that values it at $1.4 billion, up from $400 million last year according to Pitchbook data. Wellington Management Company led the round, with participation from Lone Pine Capital, Baillie Gifford, and existing investor Global Founders Capital. This round included, Away has raised a total of $156 million since inception.

The company says it grew from $12 million in sales in its first 12 months, to $150 million in 2018, and claims it's projected to double sales this year. With this funding, Away says it'll expand its product line, grow its physical retail footprint, and fuel international expansion.


Away has hit a unicorn valuation just three years after start which is quite impressive. The company is among several others that have raised huge funding recently which include Nextdoor ($123 million at $2.1 billion valuation), GM Cruise ($1.15 Billion At $19 Billion Valuatio…

Hyundai And Kia Invest $90 Million In Rimac

Hyundai and Kia Motors have invested a combined 80 million Euros (roughly $90 million) in Rimac, a Croatian electric vehicle manufacturer focused on the high-performance segment. Hyundai contributed the lion share for this round, with 64 million Euros and the remainder 16 million Euros coming from Kia. Hyundai has also partnered with Rimac, building on its existing R&D work to meet its electrification plan (44 eco-friendly models by 2025).

Hyundai and Rimac will work together to develop high-performance EVs. Rimac is targeting 2020 for release of its production car. The Zagreb, Croatia based company currently employs more than 500, some of whom work in-house to develop the components for its planned vehicle. Rimac is also setting up new facilities that it plans to manufacture battery packs and powertrain systems in.


Prior to this round, Rimac had raised some 30 million Euros in total funding according to Crunchbase data.



Nextdoor Raises $123 Million At $2.1 Billion Valuation

Nextdoor -- the popular neighborhood social network app available in 10 countries (spanning 236,000 neighborhoods) has raised $123 million in funding led by Riverwood Capital, with participation from existing investors Kleiner Perkins, Tiger Global, and Benchmark. An unspecified "large global asset manager" also participated in this round according to Nextdoor's statement.

The company was valued at $2.1 billion with this round, up from $1.1 billion in 2015. Riverwood Capital founder Chris Varelas is joining Nextdoor's board as part of terms of its investment. Nextdoor is notably led by Sarah Friar, the former CFO of payments giant Square and also board member at Walmart and Slack. Friar departed Square October last year to take the reins at Nextdoor.


This round included, Nextdoor has raised some $400 million in total funding according to Crunchbase data. Other notable investors in the company include Greylock Partners, Shasta Ventures, Axel Springer, Comcast Venture…

Uber Slides After IPO

After finally debuting on the public markets, Uber’s share price has seen a decline of about 13% from its $45 debut price, sliding down to below $39 (as of writing) during trading on Monday. Uber raised $8.1 billion via the sale of 180 million shares at $45 a pop. The decline likely indicates some skepticism concerning Uber’s ability to execute on growth areas like food and package delivery and its ambitions of driverless vehicles.

Uber is already the leader in the ride-hailing market but that’s one with quite intense competition, with Uber having to keep prices low to avoid being undercut by competitors. Uber hasn’t turned a profit, with at least $1 billion in losses in the first quarter of this year. The company also recorded losses of $1.8 billion last year.

Just like Uber, its competitor Lyft which went public earlier this year has also declined on the stock market. The company’s shares hit a record low of less than $50 (as of writing) during trading on Monday. This is 30% less t…

Harry's Exits For $1.37 Billion

Harry's -- the popular Razor brand launched in 2013 by Andy Katz-Mayfield and Jeff Raider (also co-founder of Warby Parker) has reached a deal to be acquired by Edgewell Personal Care, the company behind the Schick and Wilkinson Sword shaving sticks and disposable razors products. Edgewell is paying a combined $1.37 billion in cash and stock for Harry's, a slight jump from a $1 billion valuation last year.

79% of the acquisition amount will be paid in cash while the rest gets paid with Edgewell shares. Following close of the purchase, Harry's shareholders will own roughly 11% of Edgewell. Also, Harry's co-founders will join Edgewell as co-presidents of U.S. operations. The acquisition is expected to close by Q1 2020.


Harry's has raised a total of $375 million in funding according to Crunchbase data. Investors in the company include Tiger Global, Light Street Capital, Temasek Holdings, Wellington Management, and Red Swan Ventures. The company's acquisition remi…

Apple Reportedly Opening First Store In India

Apple is close to launching its first retail store in India according to a Bloomberg report which says the iPhone maker has put together a short list of locations for a planned store. Apple is said to have set its sights on various high-end locations in Mumbai, with currently vetted spots comparable to iconic locations such as Regent Street in London, Champs-Elysees in Paris and Fifth Avenue in New York.

Apple has previously been unallowed to open its own stores in India because it doesn't meet local sourcing requirements. But with reported arrangements to begin some manufacturing in the country, launching its own store doesn't seem quite far-fetched. Apple currently operates more than 500 stores worldwide with most in the U.S.


Seven new Apple stores were launched in 2018 alone. The iPhone maker notably got a new retail head earlier this year who may want to get the company into new countries. Deirde O'Brien who currently occupies the position is an experienced executive w…

Steve Singh Steps Down As Docker CEO

Docker has announced that CEO Steve Singh is stepping down to be replaced by former Hortonworks CEO Rob Bearden. Bearden will take position in June, bringing more than 20 years of experience in the software world stemming from stints at Hortonworks, SpringSource, and JBoss. Steve Singh will continue to serve as Docker's Chairman after the transition.

Bearden who is replacing Singh notably built Hortonworks prior to its merger with Cloudera, to be the first open source company to successfully go public since Red Hat. He's joining Docker at a time the company says it's "experiencing strong momentum" in the enterprise software market. More than 750 commercial customers currently make use of Docker's flagship product, Docker Enteprise, a leader in the "enterprise container platform" industry.


Steve Singh who is stepping down has quite an impressive résumé. He previously served as CEO of Concur Technologies, an SaaS company acquired for $8.3 billion by …

Waymo To Make Driverless Cars Available On Lyft

Waymo has announced a partnership with Lyft that'll see it deploy 10 of its driverless vehicles on the ride-hailing app over the next few months. Lyft users will get the option to summon Waymo's driverless vehicles for rides in areas where they'll be made available. This partnership builds atop Waymo One, a commercial driverless vehicle service launched last year December.

Waymo's announcement didn't give further details about the partnership with Lyft. Waymo (a subsidiary of Alphabet) currently leads the driverless vehicle race with more than 10 million miles clocked -- by its self-driving vehicles on public test roads -- so far. It's competing with the likes of GM Cruise, Uber ATG, Aurora, TuSimple, and Embark.


Although most companies in the driverless vehicle scene are yet to launch fully commercial services, the industry has witnessed huge investments as of late. GM Cruise just raised $1.15 billion at a $19 billion valuation, on the heels of a $1 billion r…

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Boosted Boards Nabs $60 Million Series B Funding

Electric skateboard manufacturer Boosted has raised $60 million Series B funding co-led by Khosla Ventures and iNovia Capital with participation from existing investors Stanford-StartX Fund and Bay Meadows. This rounds brings the total raised by Boosted to over $70 million and will see former Google CFO and iNovia partner Patrick Pichette move from an existing independent board position at the company to a preferred board seat.

"Today’s generation is quickly adopting light electric vehicles as a superior way to commute, saving both time and money over existing options while enjoying the ride," Boosted CEO Jeff Russakow says. "However, the majority of lightweight vehicles on the street today are leisure-grade or toy-grade products, when riders need vehicle-grade products that provide exceptional acceleration and braking performance, safety, durability, and superior design."


"Boosted has been perfecting street-quality technologies for the electric skateboard ma…

Angela Ahrendts Joins Airbnb's Board

Airbnb has added former Apple retail chief and ex Burberry CEO Angela Ahrendts to its board. She'll serve as the company's third independent non-affiliated board member, the other two being former American Express CEO Ken Chenault and former Pixar Studios CFO Ann Mather (who also serves on the boards of Netflix, Alphabet, Arista Networks, Glu Mobile and Shutterfly).

Ahrendts led global retail at Apple for five years before stepping down this year to be replaced by three decade running Apple Veteran Deirdre O’Brien. Prior to Apple, she spent eight years as CEO of British luxury brand Burberry. She also spent 25 years in New York as an executive at fashion brand Liz Claiborne and as President of Donna Karan International prior to Burberry.


Other notable Airbnb board members include LinkedIn co-founder Reid Hoffman, Sequoia's Alfred Lin, Andreessen Horowitz's Jeff Jordan, and co-founders Joe Gebbia, Brian Chesky, and Nathan Blecharczyk.



Private equity giant Hellman & Friedman buys into home security startup SimpliSafe at a reported $1 Billion Valuation

image credit : SimpliSafe

Boston based home security startup SimpliSafe which provides self-installed security systems which are used by a huge number of homes in the U.S. has now sold a major interest in the company to Global private equity and investment giant Hellman & Friedman for an undisclosed sum which according to various sources values the company at a huge $1 Billion

The company which last raised $57 million in a Sequioa Capital led round and has been growing very well with the company counting over 300,000 customers as far as 2015 and a vast number of consumers currently making use of its suite of home security products.

This majority acquisition represents another move by Hellman & Friedman making huge acquisitions and bets in the technology space with the investment company's tech portfolio including notable companies like DoubleClick, Getty Images, Customer experience solutions company Genesys amidst other of its notable investments.

SimpliSafe will now conti…

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Boosted Debuts A Scooter

Boosted, the company known for its lineup of electric skateboards, has debuted a new product, this time not a new skateboard, but an electric scooter. The new scooter, Boosted Rev has been made available for pre-order. This debut comes a few months after Boosted raised $60 million in Series B funding led by Khosla Ventures.

Features of the Boosted Rev include:
24 mph top speed.22 miles range.LED display.Electric brakes.Custom folding mechanism.A Throttle Wheel -- that allows for one-handed acceleration and braking by a roll of the thumb.


Boosted claims the new scooter was put through "rigorous mechanical, electrical, and environmental tests that greatly exceed industry standards for light electric vehicles". The Boosted Rev retails for $1,600 and will begin shipping in and outside the U.S. by summer.



CrowdStrike Files For IPO

CrowdStrike -- a cyber-security company valued at $3 billion from a last year round -- has filed with the SEC to go public, joining the likes of Slack, Fastly, and Postmates which have also filed to hit the public markets this year. According to Crunchbase data, CrowdStrike has raised a total of nearly $500 million in funding.

Below are some key takes from its IPO filing:
$250 million in revenue -- for the year ended January 2019 -- albeit $140 million in losses. Revenue is up from $52.7 million in 2017 and $118.7 million in 2018. Losses grew from $91.3 million in 2017 to $135 million in 2018.$88.4 million current cash and cash equivalents, compared to $63.1 million in 2018.2,516 subscription customers in 2019, compared to 1,242 in 2018 and 450 in 2017.$172.7 million sales and marketing spend in fiscal 2019, compared to $104.3 million in 2018, and $53.7 million in 2018.$58.9 million R&D spend in 2018, compared to $39.1 million in 2017.$44.9 million compensation for CEO George Kurt…

Lilium Unveils Five-Seater Jet

Lilium, a Munich based startup with $100 million in funding that's developing electric vertical take-off and landing jets has unveiled a new five-seater all-electric aircraft prototype and announced a completion of its first maiden flight in German skies. The new aircraft dubbed Lilium Jet is powered by 36 all-electric jet engines that Lilium says allows it to take-ff and land vertically, "while achieving remarkably efficient horizontal, or cruise, flight."

The new prototype has a quite simple design, with no propellers, no tail, no gearbox, and no rudder. Lilium says this "contributes to the safety and affordability of the aircraft" and also leaves room for customer-oriented features like panoramic windows and gull-wing doors.


The Lilium Jet features a top speed of 300km/h and can go 300km on full charge. It first took to the air at 08.03 local time on 4th May 2019 in Germany, after "extensive ground testing" at Lilium's Munich headquarters. The…

Nextdoor Raises $123 Million At $2.1 Billion Valuation

Nextdoor -- the popular neighborhood social network app available in 10 countries (spanning 236,000 neighborhoods) has raised $123 million in funding led by Riverwood Capital, with participation from existing investors Kleiner Perkins, Tiger Global, and Benchmark. An unspecified "large global asset manager" also participated in this round according to Nextdoor's statement.

The company was valued at $2.1 billion with this round, up from $1.1 billion in 2015. Riverwood Capital founder Chris Varelas is joining Nextdoor's board as part of terms of its investment. Nextdoor is notably led by Sarah Friar, the former CFO of payments giant Square and also board member at Walmart and Slack. Friar departed Square October last year to take the reins at Nextdoor.


This round included, Nextdoor has raised some $400 million in total funding according to Crunchbase data. Other notable investors in the company include Greylock Partners, Shasta Ventures, Axel Springer, Comcast Venture…

Away Raises $100 Million At $1.4 Billion Valuation

Away -- the popular New York headquartered luggage travel brand -- has raised $100 million Series D funding that values it at $1.4 billion, up from $400 million last year according to Pitchbook data. Wellington Management Company led the round, with participation from Lone Pine Capital, Baillie Gifford, and existing investor Global Founders Capital. This round included, Away has raised a total of $156 million since inception.

The company says it grew from $12 million in sales in its first 12 months, to $150 million in 2018, and claims it's projected to double sales this year. With this funding, Away says it'll expand its product line, grow its physical retail footprint, and fuel international expansion.


Away has hit a unicorn valuation just three years after start which is quite impressive. The company is among several others that have raised huge funding recently which include Nextdoor ($123 million at $2.1 billion valuation), GM Cruise ($1.15 Billion At $19 Billion Valuatio…

Samsung Launches Apple TV And AirPlay 2 On TVs

Samsung has issued a firmware update that'll make the new Apple TV app and AirPlay 2 support available on its 2019 model smart TVs and select 2018 models. Apple TV will be available on its smart TVs in more than 100 countries while AirPlay 2 support spreads to 176 countries. This entails users of Samsung's Smart TV platform can now launch Apple TV via a simple icon to access their iTunes movies and TV show purchases.

When Apple TV+ launches this fall, users will be able to gain access to the host of new content from the likes of Oprah Winfrey, Steven Spielberg, Jason Momoa, and Octavia Spencer being launched by Apple. For now, users can subscribe to channels within the Apple TV app, paying for only the ones they want and watching directly via the app.


The Apple TV app will work together with Samsung Smart TV services like Bixby, Search and Universal Guide. Also, with AirPlay 2 support, users are now able to play content from their iPhone, iPad or Mac directly on their Samsung…