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Postmates nabs $300 million investment at reported $1.2 billion valuation

San Francisco based delivery logistics startup Postmates has raised $300 million in a new round led by Tiger Global, The renowned NY based tech focused hedge fund whose partner Scott Schleifer will now be joining Postmates board as part of this deal.

Although the company's press release doesn't mention of a valuation, Fortune reports this round values the company at $1.2 billion marking another entry into the unicorn club and one notable addition for the delivery and logistics scene which counts one of Postmates main competitor DoorDash valued at $4 billion from a previous funding round as another major player.

Through a balance of smart unit economics and a sustainable growth strategy, Postmates which offers on-demand delivery for a vast range of items has established itself as a market leader in the rapidly growing delivery sector as more people take to delivery services while boosting the gig economy ecosystem.

The company has now raised over $570 million in total with thi…

Tesla sued by Nikola Motor Company for $2 Billion


Courtesy: Nikola

Why on planet earth is Nikola fighting Tesla? Well it's the case right now and we have to dig deep into it, Nikola Motor Company has claimed that Electric vehicle behemoth Tesla Inc. infringed on its patents, The company alleges that Tesla's Semi truck infringes on its own patents and is demanding $2 Billion in compesation.

The alleged patents infringed include its fuselage design, a mid-entry door and a wrap-around windshield.

Well as is obviously the case here, Patent trolling takes place here, The company says that this patent infringement has confused customers who now have a hard time differentiating between its products and that of Tesla which has ended up costing the company $2 Billion worth of losses which it's seeking to recover.

The lawsuit was filed in Arizona Recently, Tesla responded through a spokeperson to an inquiry from The Verge, saying that “It’s patently obvious there is no merit to this lawsuit,”

Nikola's Semi is powered by Hydrogen fuel cells with a secondary battery pack while Tesla's semi is as a usual for the company's products powered by electricity. Tesla has placed a lot of orders for its Semi and recorded $3.4 Billion revenue in this year's first quarter which beat Wall Street expectation although the company also made a net loss of $710 million.

You're ready for some battle right? Sit back, Relax and enjoy the show as we desire to know who will be the winner in this case.



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Daimler pairs with Bosch to premiere automated valet parking in China

Auto giant Daimler and engineering giant Bosch has set on a joint initiative to launch automated valet parking in Beijing bringing the tech which debuted last year at the parking garage of the Mercedes-Benz Museum in Stuttgart to a pilot in the Chinese area.

This symbolizes a spearheading effort in infrastructure-supported driverless parking while marking the first pilot of its kind in the Chinese region as both companies collaborate to enable vehicles proceed to an assigned space while allowing further retrieval via smartphone in supported environments.


Further testing of this tech will be made at the by Daimler and Bosch at the Mercedes-Benz Research and Development Center to proceed on its efforts with this service.

Automated Valet Parking has the capacity to ease hassles involved in the parking process at modern and urban parking environments where shortages of parking spots and location of suitable parking spaces bring about inconveniences to drivers.


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Apple adds new features for the HomePod

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Uber reportedly in talks to acquire Dubai based competitor Careem

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According to the people familiar with the matter as reported by Bloomberg, Negotiations are on-going while Careem's management is working on convincing its shareholders of the merits of a deal.

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Holographic AR display tech firm WayRay gets $80 million round at $500 million valuation

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Adobe reports record analyst beating Q3 earnings

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Net income came at $666.3 million for the quarter with cash flows also amounting to $955 million while deferred revenue came in at $2.71 billion indicating a 23% year-on-year growth.

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