Business

Snap Inc. (NYSE: SNAP), the parent company of Snapchat announced a drastic decline in the user growth on Tuesday at 2018 Q2 earnings call. With 188 million Daily Active Users (DAUs) by the end of June 30, 2018, Snapchat user growth decreased by 2 percent against 191 million in 2018 Q1. Though, 2018 Q2 DAUs figures are much higher than 173 million users recorded in the second quarter of last year. This is the first time the image sharing app has accounted a negative net addition to its user count, since its inception in 2011. The cur...
Founded in 1976, the house of Steve Jobs now holds the trophy engraved with “the world’s first 1 trillion dollar company” title. Apple Inc. (AAPL) beat the Silicon Valley giants Amazon (AMZN), Microsoft (MSFT) and Google Alphabet (GOOGL) quite comfortably in the race to become the first publicly traded, non-government sponsored company to reach a market capitalization of one trillion dollars on August 2, 2018. The market dynamics for Apple started changing post-2018 Q3 earnings call on July 31. It declared the result as the best June...
Sonos Inc., one of the earliest players in the US smart speaker industry, roared during its debut at Wall Street on August 2, 2018. Sonos IPO opened modestly with $16 per share after establishing the initial selling price of $15 on Wednesday evening. The IPO value was set much below the expected range between $17and $19. Listed under the ticker “SONO” on NASDAQ, the company’s stock traded as high as 32 percent to $21 per on the first day after a slow launch. The Sonos IPO day wrapped with $19.91 closing price, marking a valuation of ...
Atlassian Corporation Plc announced to sell its communication tools HipChat Cloud and Stride to the rival Slack Technologies Inc. As per the deal, Slack will pay an undisclosed sum to acquire the intellectual property (IP) for Stride and HipChat over three years and Atlassian will take a small stake in the former company. With this, the Australia-based software enterprise giant, Atlassian made way to discontinue its real-time communication products for the internal organization. The company now aims to focus on its core expertise, wh...
The Facebook Inc. (FB) executives on Wednesday saw investors’ inevitable reactions on 2018 Q2 earnings. The social media giant earned $13.2 billion revenue during the quarter ended on June 30, 2018, compared to $9.32 billion generated in the same duration last year. Highlighting the gravity of the situation, the growth of Facebook decelerated 7 percent in Q2 with $370 million total revenue when evaluated against $536 million revenue earned for the Q1 this year. David Wehner, Chief Finance Officer of Facebook had earlier warned share...
Facebook Inc. has set up a subsidiary in Hangzhou, located in China, a nation where the social media giant’s site remains blocked for ten years. As per a filing seen on China’s National Enterprise Credit Information Publicity System by Reuters, the Facebook Chinese subsidiary was approved recently on July 18. “We are interested in setting up an ‘innovation hub’ in Zhejiang to support Chinese developers, innovators and start-ups,” commented Debbie Frost, a Facebook spokesperson, pointing towards the Chinese province where Hangzhou is ...
Microsoft Corporation’s 2018 fourth quarter result implicitly highlights a major trend - it is steadily growing in the gaming business. Announced on Thursday, the company’s Gaming Revenue grew to $643 million or 39 percent up in 2018 Q4 against the corresponding duration previous year. Xbox software and services made the key contribution to the higher revenues in the Microsoft gaming business, cites the released statement. Crediting the success to third-party title strength (probably whispering ‘Fortnite’), Xbox software and services...
The Future of Life Institute announced today that over 160 companies and 2,400 individuals have signed a pledge not to develop lethal AI weapons. Signatories made the pledge during the 2018 International Joint Conference on Artificial Intelligence (IJCAI) in Stockholm. In the pledge, signatories promised they will "neither participate in nor support the development, manufacture, trade or use of lethal autonomous weapons." Representing 90 countries, the signatories also called on governments to introduce laws against lethal AI weapons....
During an earnings call with analysts in May 2018, Apple Inc.’s CEO Tim Cook disclosed its record 2018 March quarter results. The company posted revenue of $61 billion, increased 16% on-year and net income of $13.8 billion, for the second quarter. Additionally, he announced to put high stakes on Indian markets, the world’s fastest growing Smartphone market. Cook said, “India, we set a new first-half record. So we continue to put great energy there. Our objective over time is to go in there with all of our different initiatives from r...
IDMvalidate has set the pace for how to provide instant ID authentication results for embassies, banks, cryptocurrency exchanges and other financial institutions who want to undergo a primary second-source verification. Seth Sewornu, the former head of the Ghana Police Visa and Document Fraud Unit, once met a man who tried to rent his passport. The detective had a valid UK visa, and the man offered him $1,300 because they looked alike. If Sewornua had leased his passport to the visa fraudster—he did not—it would not have caused much ...