Google partners with VCs to host its own machine learning startup competition

 On the heels of acquiring data science community Kaggle, Google is launching a machine learning competition of its own for startups. Google is targeting early-stage companies taking an innovative approach to machine learning. The competition is being run in partnership with seven venture capital firms. Read More

Alibaba’s arch rival JD.com spins out its financial services business

jd jd.com While Alibaba’s Ant Financial fintech affiliate is out doing deals to expand its global presence and raising a $3 billion war chest for further M&A, its chief rival in China has made a strategic deal of its own. JD Finance, the financial services business belonging to Alibaba competitor JD.com, is going independent, according to a deal announced yesterday. The business was started… Read More

Alibaba’s arch rival JD.com spins out its financial services business

jd jd.com While Alibaba’s Ant Financial fintech affiliate is out doing deals to expand its global presence and raising a $3 billion war chest for further M&A, its chief rival in China has made a strategic deal of its own. JD Finance, the financial services business belonging to Alibaba competitor JD.com, is going independent, according to a deal announced yesterday. The business was started… Read More

Did Snapchat leave money on the table?

snapchat-money2 Snapchat priced its IPO at $17 per share on Wednesday, raising $3.4 billion dollars. Then it opened Thursday at $24 per share and closed at $24.48. That’s a 44% gain, for the select investors who bought into the IPO.  And that gain looks great…for new investors. But it also means that Snapchat could have sold its shares for a higher price! If Snapchat priced its shares just a… Read More

Snapchat is already more valuable than these 9 companies

SAN FRANCISCO, CA - SEPTEMBER 09: Evan Spiegel of Snapchat attends TechCruch Disrupt SF 2013 at San Francisco Design Center on September 9, 2013 in San Francisco, California. (Photo by Steve Jennings/Getty Images for TechCrunch) Snap Inc., the parent company of Snapchat, had a stellar first day in its public debut on the New York Stock Exchange, popping 44%. The self-proclaimed camera company that began its roots as an ephemeral photo-sharing app first priced its IPO at $17 per share on Wednesday. The stock opened at $24 and closed the day at $24.51. The company’s market cap is being reported as $34 billion… Read More

Snapchat stock finishes up 44% on first day

NEW YORK, NY - MARCH 2: (L to ) Snapchat co-founders Bobby Murphy, chief technology officer of Snap Inc., and Evan Spiegel, chief executive officer of Snap Inc., prepare to ring the opening bell as Thomas Farley, president of the NYSE, looks on, March 2, 2017 in New York City. Snap Inc. priced its initial public offering at $17 a share on Wednesday and Snap shares will start trading on the New York Stock Exchange (NYSE) on Thursday. (Photo by Drew Angerer/Getty Images) Snap, the parent company of Snapchat, had a great day in its debut on the New York Stock Exchange. After pricing the IPO at $17 per share yesterday, the stock opened at $24. It then closed the day at $24.51, a 44% premium to the people who bought it yesterday. But like with all IPOs, not everybody got to access Snap’s IPO price. This is usually reserved for a smaller group of… Read More

Lyft seeks $6 billion valuation in funding round

lyft-sign Lyft is out pitching to investors while competitor Uber surrounds itself in controversy. The Wall Street Journal first reported that they are chatting about a $500 million round. We’re hearing that they are targeting a roughly $6 billion valuation, slightly above the $5.5 billion they were valued at in their last private round. The timing makes sense given the failed sale process last… Read More

Lyft seeks $6 billion valuation in funding round

lyft-sign Lyft is out pitching to investors while competitor Uber surrounds itself in controversy. The Wall Street Journal first reported that they are chatting about a $500 million round. We’re hearing that they are targeting a roughly $6 billion valuation, slightly above the $5.5 billion they were valued at in their last private round. The timing makes sense given the failed sale process last… Read More

Snap values itself at nearly $24B with its IPO pricing

snap spectacles Snap has given a final price for its IPO, setting the company’s valuation at nearly $24 billion with a price of $17 per share, according to a report by the Wall Street Journal. With that, it looks like Wall Street had plenty of an appetite for Snap despite multiple major concerns about the company’s business. Slowing user growth, rising burn and a dependence on Google and Amazon… Read More

Nearly one year after launch, Apple Pay finds limited traction in China

An employee works on a laptop computer as he talks with a customer near a sheet showing accepted methods of payment, including Apple Pay, top left, at an Apple Store in Beijing, Thursday, Feb. 18, 2016. Apple Inc. on Thursday launched its smartphone-based payment system in China where the electronic payments market is already dominated by an arm of e-commerce giant Alibaba. (AP Photo/Mark Schiefelbein) After a slow start, Apple Pay is now dominating its home country, the United States, but the same can’t be said of China where it is up against a different set of challenges. Data from Boston Retail Partners shows that Apple Pay is now accepted by 36 percent of merchants in the U.S., thus making it one of the most widely available mobile payment methods in the country. However, to date… Read More