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Tinder Owner IAC Sues Co-Founder Sean Rad Over Company Documents

Match Group, the Dallas based online dating company behind popular services including Tinder, OkCupid and PlentyOfFish and its parent firm IAC has filed a lawsuit against Tinder co-founder and ex CEO Sean Rad alleging theft of company files and other proprietary files. The lawsuit filed in a Manhattan state court on Tuesday claims $250 million in damages.

It comes six months after Rad and other Tinder co-founders filed a $2 billion lawsuit against IAC, alleging it manipulated data to lessen Tinder's valuation and rob them of stock options, and that former CEO Greg Blatt engaged in sexual harassment.


IAC is now alleging that Rad in violation of an employment agreement, created backups of internal e-mails, directly copied company files that include “highly sensitive, non-public information concerning his employers’ business strategies and plans.” and forwarded company e-mails to personal addresses.

Tinder's history has had a share of lawsuits beginning from that of co-founder W…
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DoorDash Now Available In All 50 U.S. States

Food delivery service DoorDash is now live in Alaska, Montana, and South Dakota, its 48th, 49th and 50th states respectively marking it as the first on-demand delivery platform to operate in all states in the U.S. The company has also launched in new cities across North Dakota, West Virginia, and Wyoming, making its service available in more regions across America.

The new cities DoorDash has gotten into are shown below:
Alaska: AnchorageMontana: Billings, Bozeman, and Missoula North Dakota: Fargo South Dakota: Sioux Falls West Virginia: Morgantown and Huntington Wyoming: Cheyenne

Customers in these regions can now order between the hours of 11 a.m. and 10 p.m. local time from restaurants including Wendy's, Chick-fil-A, Chipotle, Dipper Donuts in Anchorage, Red Tractor Pizza in Bozeman and Izumi Sushi in Fargo. In total, DoorDash now operates in 3,300 cities across the U.S. and Canada, a quintuple from 600 in the previous year.


Infor Raises $1.5 Billion Ahead Of Potential IPO

Infor, the cloud software company led by former Oracle president Charles Phillips has announced $1.5 billion in funding from Koch Equity Development (KED) and Golden Gate Capital, nearly two years after KED invested over $2 billion in the New York based company.

Infor inked over $3 billion in 2018 revenues, having garnered more than 9,500 customers in 110 countries for its CloudSuites core products. In total, it counts over 68,000 customers in 170 countries which include 8 out of  top 10 global luxury brands, 19 of the top 20 automotive suppliers, 18 of the 20 largest U.S. cities and 18 of the 25 largest U.S. healthcare delivery networks according to a press statement.


It employs 17,300 people worldwide and says it has invested approximately $2.5 billion in product design and development over the last five years with 475 new products, 1,870 integrations, and 20,700 industry features in its CloudSuite product line delivered.

“Companies see the value in shifting their enterprise applic…

HomePod To Be Available In China Starting Friday

Apple's wireless smart speaker, the HomePod will become available in in mainland China and Hong Kong markets starting Friday, January 18 as recently announced by the company. Residents in the country will now be able to use the wireless speaker designed for voice control with an array of six microphones and access over 40 million songs from Apple Music streamed directly to the speaker.

The HomePod features Airplay 2 enabling users to stream music and other audio content from local services like QQ Music, iHuman Music, Penguin FM and Dragonfly FM in mainland China and Spotify, KKBOX, JOOX and Podcast in Hong Kong.


The speaker can also be used for functions like checking the weather and latest sport scores, setting reminders and alarms, making and receiving phone calls and monitoring of HomeKit enabled smart home accessories such as door locks, security cameras, lights and air quality monitors.

It's expected to cost RMB 2,799 (around $408.21) for Chinese users, a bit above the …

Airbnb Profitable For Two Years Straight As It Heads For Public Markets

Airbnb today announced a number of milestones which include being profitable for a second year on an EBITDA (earnings before interest, taxes, depreciation and amortization) basis in 2018. This counts as a plus as the company heads for an IPO reported to be taking place this year.

It also says it's on track to hit 500 million guest arrivals on its platform by the end of Q1 this year. While specific figures are not provided, the company exceeded its 2017 projections with $93 million in profit on $2.6 billion in revenue, Bloomberg says with CEO Brian Chesky promising a public offering before 2020 when some employee stock grants expire.

This month, longtime Amazon executive Dave Stephenson joined the company as chief financial officer, a key role in preparation for an IPO after its previous CFO Laurence Tosi left last year amid a disagreement with Chesky.

“He (Dave Stephenson) will use his experience in growing large businesses quickly at scale to ensure we are investing for both gro…

Facebook To Invest $300 Million In News Partnerships And Programming Over Three Years

Facebook has announced it's investing $300 million over three years on local news partnerships and programming globally, allotting investments to expand memberships and subscription accelerators. It has already distributed $16 million among various journalism non-profits and organizations including the American Journalism Project, Community News Project, Knight-Lenfest Local News Transformation Fund, Report for America and the Pulitzer Center as part of this effort.

It's investing the same amount allocated for a similar project last year by Google, the ‘Google News Initiative’ through which the company gives out money to “help stimulate innovation in digital journalism” among European publishers. The company last year shifted its News Feed algorithm in favor of more “meaningful interactions” and less Page/news content, This evolved to focus on trusted local news for its users indicating efforts in this space.

“We’re going to continue fighting fake news, misinformation, and lo…

Walgreens And Microsoft Establish Partnership For Healthcare Services

Walgreens and Microsoft have announced a partnership centered on development of "new health care delivery models, technology and retail innovations to advance and improve the future of health care". Both companies will combine use of Microsoft Azure, Microsoft’s cloud and AI platform, investments and new retail solutions to "make health care delivery more personal, affordable and accessible", A joint press release says.

This partnership will involve a multiyear R&D investment including provision of funding, subject-matter experts, technology and tools to build healthcare solutions and exploration of potential to establish joint innovation centers in key markets. This year, Walgreens is also piloting up to 12  “digital health corners”, locations in its stores that will sell health-care related devices and hardware to its customers.


According to the press statement, both companies will work on:
Connecting Walgreens stores and health information systems to people …

VW Not Yet Committed To Collaborating With Ford On Self-driving Cars

Volkswagen, set to announce an alliance with automaker Ford this Tuesday has not yet decided to collaborate with the company on self-driving cars, Its CEO Herbert Diess said, speaking to reporters in a roundtable at the North American International Auto Show.

“There’s still a lot of hype” about driverless vehicles and "a lot of money flowing in, but I think it’s still a long way to go until we really get the first paybacks,” Diess said. “There’s one alternative, which could be joining forces with Ford. It’s not yet decided. But it’s still a long way to go, many millions to be poured in and probably some setbacks to expect.”


In November, Volkswagen was reported to be considering an investment in Ford's Argo AI self-driving unit and also looking to share electric vehicle technology with Ford, tapping into the high amounts it has committed for battery powered vehicles.

Both companies have scheduled a tele-conference to reveal the results of discussions between them but Diess in…

Zoox Names Former Intel Executive Aicha Evans As CEO

Autonomous vehicle startup Zoox has named Intel's former Senior Vice President and Chief Strategy Officer Aicha Evans as its CEO, joining Zoox after 12 years at the chipmaker and nearly one year on its board.

Prior to serving most recently as the Chief Strategy Officer, she led its Communication and Devices Group, overseeing a team of 7,000 people across multiple continents responsible for driving wireless engineering for multi-comm products and Intel platforms. Her hire comes months after a sudden ouster of Zoox co-founder Tim Kentley-Klay as CEO for unspecified reasons.


“Our team has made incredible progress since we started in 2014,” Zoox co-founder and CTO Jesse Levinson said. “We believe now more than ever that the full realization of autonomous mobility is a radical departure from last century’s car architecture, and that requires a completely reimagined vehicle and AI solution. I’m excited to partner with Aicha as we forge our own path and show the world what the next gene…

Apple's Jeff Williams Says Qualcomm Declined To Provide Chips For 2018 iPhones

Testifying this Monday in the on-going Qualcomm suit, Apple chief operating officer Jeff Williams said the chipmaker declined to supply cellular modems for 2018 iPhones after Apple sued it in the previous year. William's testimony made known Apple was forced to use modems from Intel for the iPhone XS, iPhone XS Max, and iPhone XR rather than the decision being a choice by the company.

He said he tried negotiations with Qualcomm to provide new chips for Apple but was met with refusal while noting that Qualcomm still supply chips for older iPhone models. Apple is accusing Qualcomm of abusing its dominance in the smartphone chip market to force customers to use its products and take high patent licensing fees in return.


Just recently, Qualcomm CEO Steve Mollenkopf argued that the company pushed to be the sole supplier of iPhone chips in response to a $1 billion "incentive payment" demanded by Apple, not with intention to block rivals like Intel from the market. Regulators …

FedEx Agrees To $35 Million Settlement With N.Y. Over Cigarette Deliveries

FedEx has agreed to pay a $35 million settlement to the state of New York over illegal cigarette deliveries to its residents over a ten-year period, resolving three lawsuits alleging it partnered with cigarette trafficking businesses to illegally ship hundreds of thousands of untaxed cigarettes to New York residents.

The company will also implement internal reforms and hire an independent consultant that will oversee its compliance with the law and provide reports to the city and state. October last year, NY federal district judge Edgardo Ramos ruled that FedEx's conduct over many years for customers with such names as “Cigarettes Direct To You” violated a federal anti-cigarette trafficking statute, prompting FedEx to cease residential cigarette deliveries.


The reforms FedEx has agreed to as part of this agreement include ceasing domestic shipments of tobacco products, implementing company-wide communication and annual training concerning tobacco shipments and taking disciplinary…

Jay-Z's Tidal Under Investigation By Norwegian Authorities

Tidal, the music streaming service acquired by rapper Jay-Z in 2015 is being investigated by Norwegian authorities over allegations of false inflation of listening numbers. The Norway based streaming service is being probed by the Norwegian Authority for Investigation of Economic and Environmental Crime (Okokrim) after allegations from Norwegian artist associations who claim potential loss of income from data manipulation.

“It has been made known through media coverage that the reports relate to Tidal’s streaming service and a suspicion that someone has manipulated the number of plays of some songs,” Okokrim Attorney Elisabeth Harbo-Lervik said in an e-mailed statement to Bloomberg.


Tidal which was acquired by Jay-Z owned Project Panther Bidco in the first quarter of 2015 claims to pay the highest percentage of royalties to music artists and songwriters but has failed to catch up with services like Spotify and Apple Music. Telecom firm Sprint purchased 33% of the company for a report…

Disney's Bob Iger Made Record $66 Million Last Year

A recent SEC filing made by Burbank, California-based Disney revealed its CEO Bob Iger made $65.6 million last year including $43.6 million in restricted stock and options and an $18 million cash incentive, Iger's largest ever compensation package, 81% higher than that of 2017.

Even with this, Iger missed out of a $60 million bonus tied to Disney's financial performance, meant to be paid if the company's cumulative segment operating income for five years ended September 29 surpassed $76 billion. Disney recorded $73.9 billion over this period.


Absent from his compensation details were stock grants tied to a completion of Disney's $71.3 billion deal to acquire 21st Century Fox, one still pending approval from regulators. Disney entered an agreement to acquire the company June last year, inking one of the largest acquisition deals in history.

Iger succeeded Michael Eisner as Disney CEO in 2005 and is on contract to retain the position through 2021. Under his leadership, …

Alibaba-Backed Megvii Reportedly Considering $1 Billion IPO

Face++ developer Megvii is weighing a Hong Kong IPO that could raise as much as $1 billion, Bloomberg reports. This comes not too long after one of its investors, Chinese e-commerce giant Alibaba was reported to be considering joining a $500 million round being prepped by the facial recognition software developer.

Bloomberg says Megvii is considering a public offering to raise between $500 million and $1 billion on the Hong Kong stock exchange, the same which hosted Xiaomi's debut last year, citing people familiar with the matter. “We are considering many options to raise funds but have not committed to a final plan,” a company spokesperson said in a messaged statement to Bloomberg.


Seven year old Megvii and another Alibaba backed company, SenseTime are leading the race in China's target to dominate the artificial intelligence field by 2030. Both companies provide AI based computer vision services for use cases including security, identification, entertainment, financial serv…

NordicTrack Promises A New Way To Play With A Virtual Reality Bike

At the Consumer Electronics Show, premium fitness equipment manufacturer NordicTrack introduced a new virtual reality bike paired with a HTC Vive Focus VR headset that channels physical efforts directly into VR gameplay. The company is promising a new way to play with “total-body gaming” by immersing users into a gaming world where fantasy collides with fitness.

The new bike features technology from Utah based health tracking startup iFit that automatically adjust its incline, decline and resistance to the user's commands, feeding this information into VR gameplay. Three special games - Aeronauts, Bike Messenger and The Last Rider have been developed for this experience with NordicTrack promising more games to come and also inviting developers onboard.


The bike's features include:
Position-Sensing Pedals that track 16 different pedal positions and sync with gameplayiFit VR Portal Access1-Year iFit Personal Trainer Subscription ($396 Value) Included .5” High-Contrast Stats Disp…

SpaceX Is Laying Off 10% Of Its Employees

Elon Musk's SpaceX has confirmed it's laying off about 10% of its staff citing “extraordinarily difficult challenges ahead.” “To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company. Either of these developments, even when attempted separately, have bankrupted other organizations” A company spokesman said in a statement.

The company is offering at least eight weeks of pay and other benefits to persons being laid off and will remain with about 6,000 employees after the layoffs running company-wide is completed. It'll also provide assistance with job searches, resume help and career coaching for those laid off according to an e-mail sent by SpaceX president Gwyne Shotwell to employees.


While the reasons for these lay-offs are unclear, SpaceX which raised $273 million in funding out of a targeted $500 million earlier this month according to an SEC filing has ambitio…

Qualcomm CEO Says It Pushed For iPhone Exclusivity In Response To $1 Billion Apple Demand

Testifying in a Qualcomm lawsuit on Friday, Qualcomm CEO Steve Mollenkopf said the chipmaker pushed to become sole supplier of iPhone chips in response to a $1 billion "incentive payment" demanded by Apple, not as a move to block other suppliers from the market.

Mollenkopf says Qualcomm sought for exclusivity on the iPhone to regain the $1 billion payment Apple insisted on, stating that the company wasn't assured of how many chips the iPhone maker would be purchasing which pushed it to do this in order to ensure a safety net.


The payment made from Qualcomm to Apple in 2011 was meant to ease technical costs of swapping the iPhone's then Infineon chips with Qualcomm's, the CEO testified. Qualcomm was named sole supplier of Apple chips as part of a 2011 deal between the two, taking hold of a key smartphone market in a move antitrust regulators are terming as anti-competitive conduct.

Regulators are arguing Qualcomm did this in order to preserve its dominance in the…

Slack Reportedly Mulling Direct Listing To Go Public

Slack is considering a direct listing just like Spotify according to a report from the Wall Street Journal potentially placing it as the second largest technology company after the music streaming service to follow this path. Slack, last valued at $7 billion post-money is likely to debut in the second quarter of this year, WSJ says.

A direct listing is a less-expensive way of debuting on the public markets, bypassing the need to raise huge amounts but is a path rarely taken by companies. Spotify made the largest debut ever done in this way in its last year public offering, launching into the markets at a nearly $30 billion valuation.


Slack has raised around $1.2 billion in funding from investors including Softbank, General Atlantic, Accel, Baillie Gifford, T. Rowe Price, Riverside Ventures and Dragoneer Investment Group. It reportedly tapped Goldman Sachs as an underwriter for its public offering, targeting a valuation of over $10 billion for debut.

Other companies including Uber, Ly…

The Y-Brush Can Seemingly Clean Your Teeth In Only 10 Seconds

At the Consumer Electronics Show, French based FasTeesH showcased the Y-Brush, a re-designed toothbrush with origins in Kickstarter which it says can clean the teeth in only 10 seconds, ten times faster than a standard toothbrush. Health institutions recommend a 2 minutes duration to be spent brushing the teeth but almost a third of Americans have admitted to brushing their teeth less than twice a day and on average less than the 2 minutes recommended duration.

According to FasTeesH, The Y-Brush is a product of nearly three years of R&D with the help of health professionals (dentists and medical doctors), functioning like an electric toothbrush in the shape of a Y allowing complete coverage of all the teeth (different sizes are made for children and adults).

It's covered with nylon bristles inclined at a 45° angle to ensure thorough removal of dental plaque on the teeth and along the gum line by recreating the Bass-method recommended by dentists, FasTeesH says For clarity, th…

Ford To Close Down On-demand Shuttle Service Chariot By March End

Ford has announced it's shutting down Chariot, the on-demand shuttle service it acquired in 2016 with the 25th of January being the last day it'll operate in the U.K. followed by a halt in the U.S. by the 1st of February.

It says it's ceasing all Chariot operations across both countries by March end, discontinuing the service it snapped up for a reported $65 million plus in what marked as the first acquisition for Ford 'Smart Mobility', the Palo Alto based unit it established in 2016 to grab a hold in growing automotive services like autonomous driving, multi-mode transportation and ride-sharing.


Chariot, a Y Combinator Alum founded in 2014 had raised only $3 million in funding after graduating from the accelerator prior to its acquisition by Ford, It says it has made over 3 million rides for its customers so far and will refund remaining commuter credit balances after it shuts down its service.

It'll also work closely with enterprise customers on a transition…

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FedEx Agrees To $35 Million Settlement With N.Y. Over Cigarette Deliveries

FedEx has agreed to pay a $35 million settlement to the state of New York over illegal cigarette deliveries to its residents over a ten-year period, resolving three lawsuits alleging it partnered with cigarette trafficking businesses to illegally ship hundreds of thousands of untaxed cigarettes to New York residents.

The company will also implement internal reforms and hire an independent consultant that will oversee its compliance with the law and provide reports to the city and state. October last year, NY federal district judge Edgardo Ramos ruled that FedEx's conduct over many years for customers with such names as “Cigarettes Direct To You” violated a federal anti-cigarette trafficking statute, prompting FedEx to cease residential cigarette deliveries.


The reforms FedEx has agreed to as part of this agreement include ceasing domestic shipments of tobacco products, implementing company-wide communication and annual training concerning tobacco shipments and taking disciplinary…

Ford To Close Down On-demand Shuttle Service Chariot By March End

Ford has announced it's shutting down Chariot, the on-demand shuttle service it acquired in 2016 with the 25th of January being the last day it'll operate in the U.K. followed by a halt in the U.S. by the 1st of February.

It says it's ceasing all Chariot operations across both countries by March end, discontinuing the service it snapped up for a reported $65 million plus in what marked as the first acquisition for Ford 'Smart Mobility', the Palo Alto based unit it established in 2016 to grab a hold in growing automotive services like autonomous driving, multi-mode transportation and ride-sharing.


Chariot, a Y Combinator Alum founded in 2014 had raised only $3 million in funding after graduating from the accelerator prior to its acquisition by Ford, It says it has made over 3 million rides for its customers so far and will refund remaining commuter credit balances after it shuts down its service.

It'll also work closely with enterprise customers on a transition…

Apple's Jeff Williams Says Qualcomm Declined To Provide Chips For 2018 iPhones

Testifying this Monday in the on-going Qualcomm suit, Apple chief operating officer Jeff Williams said the chipmaker declined to supply cellular modems for 2018 iPhones after Apple sued it in the previous year. William's testimony made known Apple was forced to use modems from Intel for the iPhone XS, iPhone XS Max, and iPhone XR rather than the decision being a choice by the company.

He said he tried negotiations with Qualcomm to provide new chips for Apple but was met with refusal while noting that Qualcomm still supply chips for older iPhone models. Apple is accusing Qualcomm of abusing its dominance in the smartphone chip market to force customers to use its products and take high patent licensing fees in return.


Just recently, Qualcomm CEO Steve Mollenkopf argued that the company pushed to be the sole supplier of iPhone chips in response to a $1 billion "incentive payment" demanded by Apple, not with intention to block rivals like Intel from the market. Regulators …

Qualcomm CEO Says It Pushed For iPhone Exclusivity In Response To $1 Billion Apple Demand

Testifying in a Qualcomm lawsuit on Friday, Qualcomm CEO Steve Mollenkopf said the chipmaker pushed to become sole supplier of iPhone chips in response to a $1 billion "incentive payment" demanded by Apple, not as a move to block other suppliers from the market.

Mollenkopf says Qualcomm sought for exclusivity on the iPhone to regain the $1 billion payment Apple insisted on, stating that the company wasn't assured of how many chips the iPhone maker would be purchasing which pushed it to do this in order to ensure a safety net.


The payment made from Qualcomm to Apple in 2011 was meant to ease technical costs of swapping the iPhone's then Infineon chips with Qualcomm's, the CEO testified. Qualcomm was named sole supplier of Apple chips as part of a 2011 deal between the two, taking hold of a key smartphone market in a move antitrust regulators are terming as anti-competitive conduct.

Regulators are arguing Qualcomm did this in order to preserve its dominance in the…

Alibaba-Backed Megvii Reportedly Considering $1 Billion IPO

Face++ developer Megvii is weighing a Hong Kong IPO that could raise as much as $1 billion, Bloomberg reports. This comes not too long after one of its investors, Chinese e-commerce giant Alibaba was reported to be considering joining a $500 million round being prepped by the facial recognition software developer.

Bloomberg says Megvii is considering a public offering to raise between $500 million and $1 billion on the Hong Kong stock exchange, the same which hosted Xiaomi's debut last year, citing people familiar with the matter. “We are considering many options to raise funds but have not committed to a final plan,” a company spokesperson said in a messaged statement to Bloomberg.


Seven year old Megvii and another Alibaba backed company, SenseTime are leading the race in China's target to dominate the artificial intelligence field by 2030. Both companies provide AI based computer vision services for use cases including security, identification, entertainment, financial serv…

Postmates Raises $100 Million In Fresh Funding Ahead Of IPO

Postmates has raised $100 million in fresh funding ahead of a public offering as first reported by Recode followed by a confirmation from the company. This round values Postmates at $1.85 billion post-money, up from a previous $1.2 billion valuation.

Postmates has now raised nearly $700 million till date including this round. Investors including BlackRock, Tiger Global and other existing backers participated in this round.


This investment likely counts as a way for Postmates' shareholders to gain liquidity ahead of an IPO as opposed to raising funding for operations. The company is reportedly expecting up to $400 million in revenue on gross sales of $1.2 billion for 2018 indicating a good financial standing although it might not yet be profitable.

Postmates is currently available in north of 300 U.S. cities, having begun as an early player in the food delivery scene but is facing competition from the likes of DoorDash, Grubhub and UberEats in a crowded U.S. market.


VW Not Yet Committed To Collaborating With Ford On Self-driving Cars

Volkswagen, set to announce an alliance with automaker Ford this Tuesday has not yet decided to collaborate with the company on self-driving cars, Its CEO Herbert Diess said, speaking to reporters in a roundtable at the North American International Auto Show.

“There’s still a lot of hype” about driverless vehicles and "a lot of money flowing in, but I think it’s still a long way to go until we really get the first paybacks,” Diess said. “There’s one alternative, which could be joining forces with Ford. It’s not yet decided. But it’s still a long way to go, many millions to be poured in and probably some setbacks to expect.”


In November, Volkswagen was reported to be considering an investment in Ford's Argo AI self-driving unit and also looking to share electric vehicle technology with Ford, tapping into the high amounts it has committed for battery powered vehicles.

Both companies have scheduled a tele-conference to reveal the results of discussions between them but Diess in…

Disney's Bob Iger Made Record $66 Million Last Year

A recent SEC filing made by Burbank, California-based Disney revealed its CEO Bob Iger made $65.6 million last year including $43.6 million in restricted stock and options and an $18 million cash incentive, Iger's largest ever compensation package, 81% higher than that of 2017.

Even with this, Iger missed out of a $60 million bonus tied to Disney's financial performance, meant to be paid if the company's cumulative segment operating income for five years ended September 29 surpassed $76 billion. Disney recorded $73.9 billion over this period.


Absent from his compensation details were stock grants tied to a completion of Disney's $71.3 billion deal to acquire 21st Century Fox, one still pending approval from regulators. Disney entered an agreement to acquire the company June last year, inking one of the largest acquisition deals in history.

Iger succeeded Michael Eisner as Disney CEO in 2005 and is on contract to retain the position through 2021. Under his leadership, …

SpaceX Is Laying Off 10% Of Its Employees

Elon Musk's SpaceX has confirmed it's laying off about 10% of its staff citing “extraordinarily difficult challenges ahead.” “To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company. Either of these developments, even when attempted separately, have bankrupted other organizations” A company spokesman said in a statement.

The company is offering at least eight weeks of pay and other benefits to persons being laid off and will remain with about 6,000 employees after the layoffs running company-wide is completed. It'll also provide assistance with job searches, resume help and career coaching for those laid off according to an e-mail sent by SpaceX president Gwyne Shotwell to employees.


While the reasons for these lay-offs are unclear, SpaceX which raised $273 million in funding out of a targeted $500 million earlier this month according to an SEC filing has ambitio…

Jay-Z's Tidal Under Investigation By Norwegian Authorities

Tidal, the music streaming service acquired by rapper Jay-Z in 2015 is being investigated by Norwegian authorities over allegations of false inflation of listening numbers. The Norway based streaming service is being probed by the Norwegian Authority for Investigation of Economic and Environmental Crime (Okokrim) after allegations from Norwegian artist associations who claim potential loss of income from data manipulation.

“It has been made known through media coverage that the reports relate to Tidal’s streaming service and a suspicion that someone has manipulated the number of plays of some songs,” Okokrim Attorney Elisabeth Harbo-Lervik said in an e-mailed statement to Bloomberg.


Tidal which was acquired by Jay-Z owned Project Panther Bidco in the first quarter of 2015 claims to pay the highest percentage of royalties to music artists and songwriters but has failed to catch up with services like Spotify and Apple Music. Telecom firm Sprint purchased 33% of the company for a report…