Financial News
Nvidia-ARM takeover raises serious antitrust concerns, finds UK's CMA
The U.K.'s competition watchdog has raised serious concerns about Nvidia's proposed takeover of chip designer, ARM. Its assessment was published today by the government, which will now need to decide whether to ask the Competition and Markets Authority (CMA) to carry out an in-depth probe into the proposed acquisition. In the executive summary of the CMA's report for the government the watchdog sets out concerns that if the deal were to go ahead the merged business would have the ability and incentive to harm the competitiveness of Nvidia's rivals by restricting access to ARM's IP which is used by companies that produce semiconductor chips and related products, in competition with Nvidia. The CMA is worried that the loss of competition could stifle innovation across a number of markets -- including data centres, gaming, the "internet of things", and self-driving cars, with the resulting risk of more expensive or lower-quality products for businesses and consumers. A behavioral remedy offered by Nvidia was rejected by the CMA -- which has recommended moving to an in-depth "Phase 2" investigation of the proposed merger on competition grounds.
Nvidia-ARM takeover raises serious antitrust concerns, finds UK's CMA – TechCrunch
The UK's competition watchdog has raised serious concerns about Nvidia's proposed takeover of chip designer, ARM. Its assessment was published today by the government which will now need to decide whether to ask the Competition and Markets Authority (CMA) to carry out an in-depth probe into the proposed acquisition. In the executive summary of the CMA's report for the government the watchdog sets out concerns that if the deal were to go ahead the merged business would have the ability and incentive to harm the competitiveness of Nvidia's rivals by restricting access to ARM's IP which is used by companies that produce semiconductor chips and related products, in competition with Nvidia. The CMA is worried that the loss of competition could stifle innovation across a number of markets -- including data centres, gaming, the'internet of things', and self-driving cars, with the resulting risk of more expensive or lower quality products for businesses and consumers. A behavioral remedy offered by Nvidia was rejected by the CMA -- which has recommended moving to an in-depth'Phase 2' investigation of the proposed merger on competition grounds.
Waymo announces construction of trucking hub in Dallas and Ryder partnership
Waymo Via, Waymo's autonomous truck unit, announced on Wednesday the construction of a hub for its fleet of autonomous trucks in Dallas, and a partnership with trucking company Ryder. The double announcement came as Waymo prepares to grow its delivery operations across Texas, California and Arizona. After raising $2.5 billion from outside investors in June, the Alphabet-owned company said today that its new primary operations center will be in a nine-acre site in South Dallas, and the company will move into it in the first half of 2022. Th self-driving truck company has started testing on the fifth generation of its Driver on the Class 8 trucks fleet as it continues freight hauling for JB Hunt. The hub will accommodate hundreds of trucks and personnel.
MOLOCO raises $150M Series C led by Tiger Global at a $1.5B valuation – TechCrunch
MOLOCO, an adtech startup that uses machine learning to build mobile campaigns, announced today it has raised $150 million in new Series C funding led by Tiger Global Management, taking its valuation to $1.5 billion. This is separate from the $20 million Series C round MOLOCO announced three months ago, which brought it to unicorn status. Co-founder and chief executive officer Ikkjin Ahn told TechCrunch that MOLOCO raised again so soon because "as we gear up for a potential IPO, we wanted more funding to help us grow faster." Founded in 2013 and based in Redwood City, California, MOLOCO has now raised $200 million in total. The company claims it has "consistently grown in excess of 100% annually," and has an annual net revenue run rate of more than $100 million.
Jerry raises $75M at a $450M valuation to build a car ownership 'super app' – TechCrunch
Just months after raising $28 million, Jerry announced today that it has raised $75 million in a Series C round that values the company at $450 million. Existing backer Goodwater Capital doubled down on its investment in Jerry, leading the "oversubscribed" round. Bow Capital, Kamerra, Highland Capital Partners and Park West Asset Management also participated in the financing, which brings Jerry's total raised to $132 million since its 2017 inception. Goodwater Capital also led the startup's Series B earlier this year. Jerry's new valuation is about "4x" that of the company at its Series B round, according to co-founder and CEO Art Agrawal.
Research Analyst
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Israel's 10 'Hottest' Startups In 2021, According To WIRED
Israel's tech and innovation ecosystem has had a monumental year so far in 2021, breaking funding records and yielding 10 new unicorns – private companies valued at $1 billion or more -- just in the first three months of the year, more than any country in Europe. Israeli high-tech activity on public markets also increased significantly this year, a trend reflected in the number of IPOs, SPAC (special-purpose acquisition company) transactions, and follow-on offerings. "Year in and year out, Tel Aviv's startup community has proven that it can achieve more than whole countries within its 52km2, thanks to investment in world-class research facilities, robust government support, and an ever-reliable influx of investment," writes WIRED UK Contributor Allyssia Alleyne in a new post this week highlighting 10 "hottest startups from Tel Aviv as part of the UK edition of the American tech publication's annual round-up (except in 2020) of Europe's 100 hottest startups. They include startups and companies from London, Amsterdam, Stockholm, Barcelona, Dublin, Helsinki, Berlin, Paris, and Lisbon. These 100 companies "are a cohort like no other," says Greg Williams, the deputy global editorial director of WIRED. "They survived an unprecedented year, embodying what entrepreneurial spirit is all about." The companies, featured in the September/October issue on newsstands this month, are not necessarily "the largest, best-known or most-funded," but they "are generating buzz" and they are organizations "people are talking about and inspired by," added Williams. The Tel Aviv entry is a mix of established companies with prominent backers, high-flying unicorns, and determined startups. Many operate in the deep tech sector. "Tel Aviv has long been known as a place where founders have built innovative companies in verticals such as fintech and cybersecurity.
Ghost raises $100 million for 'breakthrough' in autonomous driving safety
A startup company called Ghost has raised $100 million Series D financing, fueling the development of its autonomous driving system that features what it describes as "a revolutionary breakthrough in crash prevention". Returning investors Sutter Hill Ventures and Founders Fund participated in the round, along with a new commitment from Coatue. Ghost was founded in 2017 with the belief that driving should not be dangerous. Despite all the technology and features included in modern cars, cars still crash – accidents and fatalities are going up, not down. Even semi-autonomous and fully autonomous vehicles struggle to recognize and avoid every potential obstacle on the road, instead relying on human intervention to handle edge cases and prevent crashes.
Qualcomm Bids $4.6 Billion for Veoneer as Its New CEO Looks Beyond iPhone
Qualcomm Inc. has made a $4.6 billion offer to buy auto-technology company Veoneer Inc., moving to outbid Magna International Inc. as the semiconductor company's new chief seeks to expand beyond the core mobile-phone chip business. Chips have become ever more central to modern cars, with roles in everything from automated driving to the electronics that adjust seat position. More recently, driver-assistance features that use computers to help control speed and steering have found their way into a larger share of auto makers' product lineups. Qualcomm said Thursday it bid $37 a share for Veoneer. The offer comes two weeks after the Swedish company agreed to be acquired by Magna International, a Canadian auto-parts supplier, in an all-cash deal.
How to Use Conversational AI to Accelerate Revenue Growth for Your Company
It can be difficult to make sure chats are responded to within the right amount of time after a customer asks a question. It can be expensive to staff live chat 24/7. However, only staffing during the day could result in lost interactions that drive revenue. Chat should not be put on every webpage on your site. Only place them on high-intent pages related to sales, or your sales team could get inundated with unrelated questions all day.