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EU Hands Qualcomm $271 Million Fine

The European Commission has imposed a fine of €242 million (around $271 million) on U.S. chipmaker Qualcomm for behavior it termed "predatory pricing". The EU is alleging Qualcomm at some time abused its market dominance in 3G baseband chipsets by selling them at below production cost with an aim to force competitor Icera out of the market. Such activity is illegal under EU antitrust law.

The EU alleges Qualcomm abused its market dominance between mid-2009 and mid-2011 by selling certain 3G baseband chipsets below production cost to Huawei and ZTE, claiming this was done with an aim of eliminating Icera, Qualcomm's main rival in the 3G baseband market as at that time. An investigation into Qualcomm was first launched by the European Commission in 2015.


The European Commission opened a formal investigation on the 16th of July 2015 and sent out a Statement of Objections [a document stating preliminary concerns of its investigation] on 8 December 2015. Another Statement of…

Zoox Names Former Intel Executive Aicha Evans As CEO

Zoox's new CEO Aicha Evans

Photograph by Fortune Most Powerful Women

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.

Zoox co-founder and former CEO Tim Kentley-Klay

Photograph by Stuart Isett/Fortune Brainstorm Tech

“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 generation of mobility looks like.”

“Aicha is an accomplished business leader and a strategic thinker with the right mix of skills to help turn Zoox’s ambitious vision into a reality,” the company's executive chairman Carl Bass added. “Zoox’s board of directors looks forward to working closely with Aicha to expand Zoox’s presence in the autonomous vehicle market as Zoox enters its next phase of growth.”

Zoox investor Steve Jurvetson rides in one of its self-driving cars

image : Steve Jurvetson on Flickr

Zoox raised $500 million last year July at a $3.2 billion valuation placing it as one of the top-most valued self-driving companies globally. Its approach as opposed to fitting existing cars with sensors and smart software is to build one from ground up, aiming for a fully autonomous vehicle ready for the road by 2020.

This December, it became the first company to gain approval to ferry members of the public in its self-driving vehicles in the state of California.


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James Murdoch Said To Bet On VR Company

According to a new Bloomberg piece, James Murdoch -- a long-time media executive and heir to media mogul Rupert Murdoch -- has invested $20 million in The Void, a Lindon, Utah-based virtual reality company that offers immersive experiences at some 11 cities globally. Bloomberg reports Murdoch has also taken a board seat at the company.

Murdoch runs a VC fund called Lupa Systems that makes bets on tech and entertainment businesses. A $20 million investment would count as the largest yet for that fund, although Murdoch is said to be working on a potentially larger investment in Zee Entertainment Enterprises, an Indian publicly traded television network.


To state The Void's business in clear terms; the company lets customers participate in virtual interactive worlds for a roughly $35 fee. The Void combines VR technology, physical stages and multi-sensory effects to achieve this. The company has collaborated with top animation companies including Walt Disney Animation Studios and Mar…

Bird Reportedly In Talks To Acquire Scoot

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Amazon Reportedly Working On Alexa Robot

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Toyota Taps CATL For Supply Of EV Batteries

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Big Data startup Domo slashes its unicorn status ahead of upcoming IPO

image credit : Domo

Business Intelligence and Big Data startup Domo which was last valued at $2 Billion in its private round of funding just set the terms for its IPO as of recent and things don't really good for the company's filing.

The company filed for going public with an outstanding 24,953,806 shares priced between $19-22 each which implies an an IPO value of $546 million which is way lower than its $2 Billion unicorn status for the company which raised over $600 million from several investors including TPG, Bezos Expeditions, BlackRock, IVP and a slew of others.

This represents a loss for the company which currently operates under negative cash flow with operation costs of $148.7 million for the most recent fiscal year ended Jan 31 but with only $71.9 million cash at hand.

Domo booked $116 million in sales for the 12 months leading to April 30 2018 and is aiming to raise $189 million through the sale of 9.2 million shares in the upcoming public offering.

Domo will join …

Blue Apron Adds Beyond Meat Burgers To Menus

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