This week, Amazon paid $1 billion dollars for a startup, Apple iCloud has some amazing revelation and LinkedIn has major competition from the big boys. Read on.
The startup Amazon paid $1 billion for
On Tuesday Reuters reported that Amazon finalized talks to buy California based doorbell maker Ring for $1 billion. This deal is Amazon’s most expensive takeovers after its $13.7 billion deal last year for Whole Foods Market. The same report confirms that Ring’s devices can integrate with Amazon’s Alexa.
Last year, Amazon acquired Blink a startup that produces security cameras.
All these moves are likely Amazon’s foot in the door into the smart security industry .
Within the week, Apple confirmed that it uses Google’s cloud for iCloud; its own cloud storage. CNBC reports that an updated file on Apple’s website provides the first acknowledgment that it is relying on Google’s public cloud for data storage for iCloud services. This is BIG because minus the fact that it is of course an unexpected partnership, CRN had earlier reported this fact in 2016, but Apple never confirmed it, until now.
Meanwhile, after an early announcement last year, Apple has finally moved its Chinese iCloud operations to a local firm in southern China and CNN says they are taking heat for this move.
Facebook and Google take on LinkedIn
By launching native videos, trendy ‘Trending Storylines‘ and a Facebook-like Instant Messenger in 2017, LinkedIn hoped to take user engagement on the platform to an all time high. However ‘the lions’ are seemingly out to devour this sheep; Facebook and Google are coming for LinkedIn.
Since last year, Facebook users in the United States of America and Canada have been able to see and use job postings on the site. On Wednesday, The Verge reported that Facebook was expanding this features to 40 countries with added functions like the ability for job seekers to create alerts for desired positions, schedule interviews and create job posts on mobile.
There are 530 million members on LinkedIn as of January this year compared to Facebook’s 2.2 billion in the same time period and Google’s everyone with an internet connection.
If this game of numbers is considered, LinkedIn is going to be a very dusty room in the nearest future.
Of course, there is always something simmering with the golden child, let’s see a few.
Last week, Wall Street showed how terrified of crypto it really is when according to Business Insider, a document from the Bank of America mentioned cryptocurrencies three times in its risk factors section.
In a seeming turnaround, this week, Circle, a Goldman Sachs backed fintech company reportedly bought a major crypto exchange for $400 million. Whoop!
Meanwhile on a global level, Forbes reports that Petro, Venezuela’s cryptocurrency is an even worse investment than bitcoin.
Remember the edition we wondered if Warren Buffet will rue his doomsday prophecy for cryptocurrencies? Well, Bill Gates too has his own reservations about crypto. According to BBC, the Microsoft founder said cryptocurrencies are killing people in a “fairly direct way” because of how they are used to buy drugs like synthetic opioid fentanyl.
In Q2 2018, Nigerian startups raised a total funding of $73.6 million. Download our report to find out more.