From Ubers former CEO Travis Kalanick getting sued by his companys lynchpin investors in Benchmark to Googles struggles with a recently fired worker over a sex diversity screed that went viral, its been a wild week in technology. Meanwhile, Snap and Blue Apron both reported disappointing earnings something we discuss in this weeks installment of this Equity podcast. From the boardroom to the trading floor, here are the stories which took Silicon Valley by storm this week.
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The Silicon Valley venture firm and early investor in Uber, has sued former CEO Travis Kalanick. The lawsuit alleges that Kalanick committed fraud, breach of contract and breach of fiduciary duty. Both Kalanick and Benchmark grip Uber board chairs. Benchmark accuses Kalanick of being selfish by packaging Ubers board with loyal allies, and the CEO broke the law by attempting to pave the way for his own return.If successful, the Benchmark lawsuit could kick Kalanick off the board of directors, makinghis reunite hopeless.
After Google fired the worker behinda controversial memo on gender diversity which went viral within the technology business,CEO Sundar Pichai cancelled a company town hall meeting where discussions about sex diversity were put to take place. Some workers fear that they may become harassment goals if they were to express unpopular opinions. In an email to employees, Pichai composed, Googlers are writing in, worried about their security and feared they could be outed publicly for asking a query from the Town Hall.
SnapsQ2 earningsreport was yet another collapse on a long, downhill path for its social media company as user expansion slowed under the pressure of Instagram, reported TechCrunchs Josh Constine. It looks like Snaps cool variable could be wearing off, and the corporation is going to need a lot more than dance AR hot dogs to fix its own problems.
Snap wasnt the only tech company with a really bad week. Together with Blue Apron, The issue quickly became getting customers to stick around and keep buying meals. This time around, the company was able to improve the health of its customer base as they’re spending more money and buying slightly more meals, but it still needs to demonstrate that it may increase that base even as it begins to pull back on advertising, writes TechCrunchs Matthew Lynley.
Bitcoin attained a record high evaluation of $3,000 per coin to finish a rollercoaster week which started with the long-awaited divide of this cryptocurrency. Now the most recognized wallet and exchange support, Coinbase declared a Series D funding round. The startup has been in the right place at the right moment to capitalize on the excitement in the business. In other cryptocurrency information,Filecoin, the much-anticipated cryptocurrency which will finally power a distributed file storage system, opened its own record-breaking ICO for accredited investors later increasing $52 million by consultants.
Flipkart confirmedthat SoftBank has spent in its own business, viaits $100 billion Vision Fund, included in anextension to the $1.4 billion funding roundannounced in April. The Vision Fund is currently buying a mix of primary and secondary earnings, but the dimensions of this investment isn’t disclosed. But we do understand that the deal is the largest private investment in an India-based tech company, and also gets the Vision Fund one of the largest shareholders in Flipkart.
An assortment of prominent names from the technology business, including Denso, Ericsson, Intel and NTT Docomo, have teamed up with Toyota to operate on creating large data systems to support self-driving cars and other potential automotive advances. The companies have come together to tackle issues around data utilization in connected cars of their future,a crucial element to creating real time mapping, driving assistance and other services move from concept to functioning in practice. Managing the huge volumes of information in a trusted and secure fashion is crucial, writes TechCrunchs Jon Russell.
Breastfeeding mothers have a few choices when it comes to next-generation breast pumps, but a lot of them are costly and the market hasn’t yet been claimed yet. There may be a lot of stress surrounding just how much youre pumping and how much your baby is consuming. What exactly does the future look like for breast pumping technician? Read more about How high-tech breast pumps help new mothers regain their period.
Apple reported its earnings last week, and having a surprisingly positive report that the shares spiked again as Apple signaled a possible enormous iPhone release. The jump pushed Apples market cap to over$800 billion. If Apples promise plays out or exceeds what Wall Street expects for the September quarter, then we may soon be asking ourselves whether or not Apple really will meet the promise of a company that could hit a market cap of $1 trillion. Continue reading in How Apple can develop into a $1 trillion company.
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