Skip to main content

WeWork Publicly Unveils IPO Filing

A recent report that WeWork was preparing to unveil its IPO filing this week has proved true, with the co-working space company having done just that. WeWork just unveiled its S-1 filing with the SEC, revealing much previously unknown info and metrics of its business. Key takes from WeWork's S-1 filing include:
527,000 members as of Q2 2019 end, up from 401,000 in 2018 and 87,000 in 2016. More than 50% of WeWork's members are outside the US.528 WeWork locations (across 111 cities) worldwide, up from 425 (across 100 cities) in 2018 and 111 (across 34 cities)  in 201638% of the Global Fortune 500 are customers$1.54 billion revenue in the first half of this year, but with a $905 million loss in the same period. This is up from $764 million revenue in the first half of 2018 and a $723 million loss in the same period$320 million sales and marketing spend in the first half of this year, up from $140 million in the first half of 2018$3.3 billion revenue run rate (as of Q2 end), up fr…

Mercedes-Benz envisions Empathy as Anchor for automobile Digital Transformation with its cooperative vehicle concept

Mercedes-Benz 

"At Mercedes-Benz we are convinced that the digital transformation can only be designed successfully if it is deeply anchored within society. Humans and access to data must be at the heart of a digital transformation," Daimler's Head of Research for Future Technologies Jasmin Eichler says.

"That is why we are also working on solutions in the field of digitalisation which place the freedom, decision-making autonomy and individuality of human beings at their centre. We aim to create a balance between humans and technology. The approach we are following here is "Human first"." This signals the direction of Mercedes Benz concerning digital transformation hitting the automobile industry in full force.

Mercedes-Benz 




At the FutureInsight event which held recently on 21 and 22 November in Berlin, Mercedes focused on empathy and trust as topics regarding inspiration for future mobility solutions and has showcased that in a cooperative vehicle concept with features such as 360-degree light signalling and parts like the headlamps, exterior mirrors, radiator grille and the turquoise light strips in the windscreen built to signal to pedestrians and surrounding traffic of operating in autonomous mode.

Lamps fitted on the vehicle's roof provide information about its next actions with signals like slow flashing indicating braking, a stationary light indicating it's driving in autonomous mode whether in transit or at standstill, lights on the roof that follow the movement of people at the side of the road and in front of the vehicle to signal awareness of their presence and rapid flashing indicating a move-off.


          Video : Daimler

          Video : Daimler

The co-operative vehicle is aimed at recreating the natural eye contact that normally take place between the driver and pedestrians for a suitable and safe transportation environment surrounding the use of self-driving vehicles.

The concept based on the Mercedes S-Class informs its surroundings before entering into operation with moves consisting of its light strips emitting an appropriate light signal, exterior mirrors folding out and a lift-up of the first rear of the vehicle followed by the front. As can be guessed, These movements are built to resemble a living thing waking up and stretching enabling intuitive communication capable of easy understanding by people.

Mercedes-Benz

Mercedes is concerning itself with longer range visions for vehicles to enable what it dubs as "informed trust" between humans and machines as in this case where the entire outer skin of the vehicle becomes a communication medium for 360-degree communication transforming a conventional auto body into a "digital exterior".

With studies indicating light signalling and 360 degree communications in total playing a key role in the pedestrian-driver relationship, Mercedes is building on this with the cooperative vehicle concept aimed at advancing mobility technologies with trials and harvesting of crucial data for furthering of the self-driving industry.

Mercedes-Benz 

Mercedes-Benz 

Mercedes-Benz 

Mercedes-Benz 

Mercedes-Benz 

Mercedes-Benz 



Comments

Most Read Posts

Figure Reportedly Raising Funding At A $1 Billion Valuation

According to a report from Bloomberg, Figure, a home lending startup founded and led by former SoFi CEO Mike Cagney, is raising more than $100 million in new funding at a $1 billion valuation, just less than two years after its founding. It seems Figure has grown at a rapid pace, with Bloomberg reporting it's on track to issue more than $80 million in loans this month alone.

Figure has already raised more than $130 million in a relatively short period. Its backers include DST Global, Ribbit Capital, Nimble Ventures, Morgan Creek, RPM Ventures and more. The home lending startup currently employs more than 100 people at offices in California, Nevada, Montana and Utah. In May, it closed a $1 billion financing deal for its customers.

Figure leverages blockchain technology to provide home equity loans online in as little as five days, with an approval process that runs some few minutes. Mike Cagney seems to have struck gold again with his new startup. His previous, SoFi, is a well-know…

WeWork Publicly Unveils IPO Filing

A recent report that WeWork was preparing to unveil its IPO filing this week has proved true, with the co-working space company having done just that. WeWork just unveiled its S-1 filing with the SEC, revealing much previously unknown info and metrics of its business. Key takes from WeWork's S-1 filing include:
527,000 members as of Q2 2019 end, up from 401,000 in 2018 and 87,000 in 2016. More than 50% of WeWork's members are outside the US.528 WeWork locations (across 111 cities) worldwide, up from 425 (across 100 cities) in 2018 and 111 (across 34 cities)  in 201638% of the Global Fortune 500 are customers$1.54 billion revenue in the first half of this year, but with a $905 million loss in the same period. This is up from $764 million revenue in the first half of 2018 and a $723 million loss in the same period$320 million sales and marketing spend in the first half of this year, up from $140 million in the first half of 2018$3.3 billion revenue run rate (as of Q2 end), up fr…

Snap Debuts Spectacles 3

Snap has unveiled the Spectacles 3, the third version of its smart glasses. Snap's Spectacles glasses are meant for recording video, shot straight from eye-view, for posting on Snapchat. The Spectacles 3 is equipped with two HD cameras to do this. The cameras capture Snaps in 3D and can transform them using in-built 3D Effects. Snaps captured on Spectacles can also be exported to the user's own gallery in circular, horizontal, square and virtual reality formats.

The Spectacles 3 features a strong but lightweight steel frame with circular lenses and adjustable tips. The new smart-glasses comes with a special charging case and is charged via a standard USB-C charging cable. Also included is a 3D viewer that lets users see captured shots in 3D mode.

The Spectacles 3 has LED indicator lights to notify people when recording is being done. The users also see lights as well. Snap's new smart-glasses records high-definition videos paired with high-quality audio from a 4-microphon…

Facebook Reportedly Tried To Acquire Houseparty Last Year

Houseparty is a popular social networking service that allows group video chatting on mobile and desktop apps. Epic Games acquired it in June for an undisclosed sum. Prior to being acquired, Houseparty had raised some $70 million in funding according to Crunchbase data.

Houseparty is the focus of this article because a new report from the New York Times said Facebook had begun discussions to acquire it late last year, but pulled out over fear of attracting antitrust concerns. Facebook has been quite successful with acquisitions, having scooped up Instagram and WhatsApp, two of the biggest social media platforms alongside the Facebook app itself.

But with increased scrutiny that even led to a $5 billion fine from the U.S. Federal Trade Commission atop another $100 million fine from the Securities and Exchange Commission (SEC), another Facebook acquisition, particularly of a competing social media platform, could draw eyeballs and antitrust concerns from regulatory agencies.


Houseparty…

Bungalow Said To Be Raising Funding At A $100 Million Valuation

Bungalow, a San Francisco-based housing startup that formally launched with a $14 million Series A led by Khosla Ventures last year, is raising new funding that'll value it at more than $100 million according to a report from The Information. The Information reports Bungalow is nearing a deal to raise between $30 million and $40 million in equity funding led by Founders Fund, a well-known VC firm whose partner, Keith Rabois, sits on Bungalow's board. Rabois is said to be leading the new funding on behalf of Founders Fund, which participated in Bungalow's $14 million Series A.

A valuation of more than $100 million would be nearly twice Bungalow's current valuation, according to The Information. Bungalow is part of a wave of startups that have jumped on the real estate scene. The San Francisco-based startup leases single-family homes and rents out individual rooms to working professionals. Bungalow lets homeowners rent out their properties for a guaranteed income stream…

Postmates Will Reportedly Drop IPO Filing Next Month

According to a TechCrunch report, Postmates, which confidentially filed for an IPO in February, is set to make its IPO prospectus public next month, despite reports that the food delivery company held at least three acquisition talks. Such reports may have some substance, as companies which confidentially file for IPO conventionally make their IPO prospectus public not long after. It's six months since Postmates confidentially filed for IPO, so it's plausible that the company pursued an M&A exit within this period, which made it delay its public offering.

According to TechCrunch, Postmates is expected to go public in the third fiscal quarter of this year. A previous report from Bloomberg said the food delivery company had picked JPMorgan Chase and The Bank of America as lead underwriters for its public offering. Bloomberg says Postmates, which was last valued at $1.85 billion, could go public at a valuation above that.

A Postmates IPO would test the public markets' ap…

Skip Debuts First Custom E-Scooter

Scooter rental startup Skip has unveiled the S3, its first electric scooter that's in-house designed and custom-built from the ground up. To come up with the S3, Skip worked with more than a year of feedback from its riders on what sort of features one would require on an electric scooter. The end result is a custom electric scooter that has brighter headlights and taillights than conventional scooters [to make it easier to spot], safety diagnostics features that lets users keep up with the condition of their scooters, swappable batteries, and a built-in electronic locking system among other specs.

The use of swappable batteries solves a significant pain point; re-charging of electric scooters. Rather than having to move the entire scooter every night to get it charged, a team of Skip freelancers can just replace it with a fully charged electric battery to keep it powered. The S3's safety diagnostics feature can alert Skip’s operations team in case of damage, enabling Skip to…

Cloudflare Files For IPO

Not long after a previous report that said Cloudflare was eyeing a September IPO, the San Francisco-based CDN provider has filed for that with the SEC, meaning an IPO next month may just be happening. Cloudflare's S-1 filing comes a decade after its first funding. The company recorded $192.7 million in 2018 revenue, but with an $87.2 million net loss. This is up from $135 million revenue in 2017 and a $10.7 million net loss for the same period.

In the first half of this year, Cloudflare recorded $129.2 million in revenue, but still with losses of $36.8 million. Other key takes from its S-1 filing include:
$94.4 million sales and marketing spend in 2018, up 54% from $62 million in 2017$54.5 million R&D spend in 2018, compared to $33.7 million in 2017Roughly $125 million in cash and cash equivalents as of Q2 end (June 30, 2019)74,000 paying customers as of Q2 endTwo million total [free and paying] customers408 paying customers with annual billings of more than $100,000 (as of Q2…

Airbnb Reportedly Records 30% Growth Rate In Q1

According to a report from the Wall Street Journal, Airbnb recorded a 31% surge in gross bookings in the first quarter of this year, with a total booking value of $9.4 billion for the period. The Wall Street Journal reports Airbnb booked 91 million nights on its platform in Q1, and grew revenue 40% year-on-year in the period. According to WSJ, Airbnb had about $3.5 billion in cash on its balance sheet as of Q1 end (March 31st) this year.

If such report stands true, Airbnb could be leaving investors hungry for an IPO that the Wall Street Journal reports is scheduled for the first half of next year. $35 billion valued Airbnb is already profitable, making it stand out among several tech companies (e.g. Uber, Lyft, Medallia, Dynatrace, Livongo) that have gone public this year without being profitable. Three others that filed for an IPO just this week (WeWork, Cloudflare and SmileDirectClub) are also not profitable.

One other standout tech company is Zoom, a video communications company th…

Wheels Up Valued At $1.1 Billion With $128 Million Series D

Wheels Up, a membership-based private aviation startup, recently announced $128 million in Series D funding that values it at $1.1 billion post-money, up from $700 million in 2017. The funding was co-led by Franklin Templeton, funds and accounts advised by T. Rowe Price, and Fidelity, with participation from other unnamed investors. With this investment, New York-based Wheels Up has raised roughly $540 million in total funding.

The new funding will fund a number of business initiatives, including potential acquisitions, sales and marketing, "significant scaling" of Wheels Up's tech and digital platforms, and acceleration of membership growth. Wheels Up operates a membership-based private aviation service that lets members book private flights with as little as 24 hours notice, and pay fixed hourly rates. Wheels Up has more than 6,000 members, who can choose from a fleet of 1,000+ partner operated aircraft.

Wheels Up members can also reduce the cost of private flights by…