Home / Tag Archives: economy

Tag Archives: economy

ATS: Simulator Technology Helps Ease School Bus Problems

As the economy strengthens, it becomes harder and harder to maintain the nation’s force of school bus drivers. Simulator training can help school districts train much-needed new drivers quickly and... (PRWeb February 04, 2019) Read the full story at https://www.prweb.com/releases/ats_simulator_technology_helps_ease_school_bus_problems/prweb16065308.htm

Read More »

How PayPal’s user growth and stock price have risen after teaming up with former foes like Visa; sources: Venmo still loses hundreds of millions…

Bloomberg : How PayPal's user growth and stock price have risen after teaming up with former foes like Visa; sources: Venmo still loses hundreds of millions annually   —  In late 1999 a young computer scientist named Max Levchin started receiving emails from strangers about a web demo he'd created to illustrate the workings of an app.

Read More »

Alibaba launches A100, an initiative for helping enterprises and merchants digitize their operations, initially for partner companies in its ecosystem…

Meng Jing / South China Morning Post : Alibaba launches A100, an initiative for helping enterprises and merchants digitize their operations, initially for partner companies in its ecosystem   —  - The programme will initially involve companies, such as major brands and merchants, that are partners in Alibaba's ecosystem

Read More »

Research: global VC investment for 2018 reached $300B+, up 55% YoY, across 34K+ deals, up 32% YoY, with $100M+ rounds accounting for over 56% of the…

Jason D. Rowley / Crunchbase News : Research: global VC investment for 2018 reached $300B+, up 55% YoY, across 34K+ deals, up 32% YoY, with $100M+ rounds accounting for over 56% of the capital   —  Make no bones about it: 2018 was one heck of a year for the global venture capital market, and the fourth quarter closed it out on strong footing.

Read More »

Coinbase is rolling out Coinbase Convert, which enables crypto-to-crypto trading for its retail customers via its website and mobile apps, in the…

Nikhilesh De / CoinDesk : Coinbase is rolling out Coinbase Convert, which enables crypto-to-crypto trading for its retail customers via its website and mobile apps, in the coming days   —  Coinbase users can begin trading cryptocurrencies directly with other cryptocurrencies, the exchange startup said Monday.

Read More »

Axios Autonomous Vehicles – Axios

Axios Axios Autonomous Vehicles Axios Just ask Blackberry . What's next: Ford is using its commercial vehicles expertise to develop routing and dispatch technology for fleet management, and is building out a transportation-as-a-service platform to integrate with its business partners. The ... and more »

Read More »

Shopify opens its first brick-and-mortar space in Los Angeles

Shopify , the provider of payment and logistics management software and services for retailers, has opened its first physical storefront in Los Angeles. The first brick and mortar location for the Toronto-based company, is nestled in a warren of downtown Los Angeles boutique shops in a complex known as the Row DTLA . For Shopify, Los Angeles is the ideal place to debut a physical storefront showing off the company’s new line of hardware products and the array of services it provides to businesses ranging from newly opened startups to $900 million juggernauts like the Kylie Cosmetics brand. The city is one of the most dense conglomerations of Shopify customers with over 10,000 merchants using the company’s technologies in the greater Los Angeles area. 400 of those retailers have each earned over $1 million in gross merchandise volume. In the Los Angeles space, which looks similar to an Apple store, patrons can expect to see demonstrations and tutorials of how Shopify’s tools and features work. Showrooms displaying the work that Shopify does with some of its close partners will also show how business owners can turn their product visions into actual businesses. Like Apple, Shopify is staffing its store with experts on the platform who can walk new customers or would-be customers through whatever troubleshooting they may need. While also serving as a space to promote large and small vendors using its payment and supply management solution. “Our new space in downtown LA is a physical manifestation of our dedication and commitment to making commerce better for everyone. We’re thrilled to be able to take our proven educational, support, and community initiatives and put them to work in an always-on capacity,” said Satish Kanwar, VP of Product at Shopify, in a statement. “We know that making more resources available to entrepreneurs, especially early on, makes them far more likely to succeed, and we’re happy to now be offering that through a brick-and-mortar experience in LA.” Kanwar and Shopify chief operating officer, Harley Finkelstein, envision the new Los Angeles space as another way to support new and emerging retailers looking for tips on how to build their business in the best possible way. “The path to being your own boss doesn’t need to be lonely or isolating,” said Finkelstein, in a statement. “With Shopify LA we wanted to create a hub where business owners can find support, inspiration, and community

Read More »

Alibaba shrugs off China concerns as revenue jumps 61%

Tencent had an unexpected miss this week , but Chinese rival Alibaba experienced no such issue today as it beat analyst expectation after clocking 61 percent annual revenue growth. The Chinese e-commerce giant reported total sales of 80.92 billion RMB ($12.2 billion) for its Q1 2019, fractionally beating Bloomberg’s estimate of 80.88 billion RMB. The firm record a net profit of 8.7 billion RMB ($1.3 billion) for the period, down 41 percent. Diluted earnings per share of 3.30 RMB was down 42 percent annually but still ahead of Bloomberg’s project of 2.57 RMB. The market has taken that as good news and shares are trading up three percent in the pre-market. Alibaba’s core e-commerce business is its most lucrative and revenue in Q1 rose 61 percent annually to hit 69.2 billion RMB ($10.5 billion), while growth for it cloud computing business continues to impressive albeit at a slowing rate as the unit grows up. Alibaba Cloud recorded total sales of 4.7 billion RMB ($710 million) but a year-on-year growth rate of 93 percent is down slightly on 103 percent in the previous quarter . Also in the last quarter, Alibaba took up an option to acquire one-third of Ant Financial , its financial services business that’s tipped to go public as soon as next year. The deal hasn’t closed yet, but when it does it will mean an end to “royalty and technology service fees” that Alibaba had earned from a previous agreement with Ant. Ant is valued at over $100 billion and some analyst estimates that the quarterly fees paid to Alibaba were in the region of one billion RMB, or roughly $160 million. Looking at customer numbers, Alibaba said its active customer base in China grew to 576 million — an increase of 100 million per year and 24 million on the last quarter — while monthly active users reached 634 million, up 20 percent year-on-year and three percent sequentially. The company doesn’t give international user numbers, but it said e-commerce revenue from outside of China grew 64 percent to reach 4.3 billion RMB, or $652 million. Beyond e-commerce, Alibaba confirmed media reports that it has combined its Koubei local services platform with its newly-acquired Ele.me business .

Read More »

Hyundai leads $14.3M investment in Indian car rental startup Revv

Korean automaker Hyundai is jumping into India’s on-demand mobility space after it led a $14.3 million investment in car-rental startup Revv . Hyundai, which is the second largest seller of cars in India , initially announced an undisclosed investment in Revv this week, but now the startup has confirmed that the capital is part of a larger 100 Crore INR (~$14.3 million) Series B round. Other investors in the round include Japan’s Dream Incubator, Telama Investment and Sunjay Kapoor of auto component firm Sona BLW. Existing investors Edelweiss and Beenext also took part in the deal, which takes Revv to $23 million raised from investors, according to data from Crunchbase . Revv was founded in 2015 and it offers on-demand car rentals using a model similar to Zipcar in the U.S. The startup is currently active in 11 cities in India with a fleet of around 1,000 vehicles. It claims to have served 300,000 users to date. One of its hallmarks is doorstep delivery and collection from customers, which eschews the usual process of designated collection and return locations. In an interview with TechCrunch, Revv co-founders Anupam Agarwal (CEO) and Karan Jain (COO) said the plan is to expand to 30 cities over the next 12-18 months while growing the fleet size to 10,000-12,000. The duo said that the investment from Hyundai didn’t include any specific clause to provide vehicles, but that it is possible that an agreement may be reached in the future. Beyond potential support on growing the fleet, Agarwal and Jain said that Revv plans to tap Hyundai for its knowledge in vehicles, including performance upkeep, maintenance of cars and more, and other tech areas as it builds out its platform and new products. A photo of the Revv team That’s because the startup’s expansion plan goes beyond new geographies to include different types of services, too. Right now, Revv offers on-demand car rentals and a subscription-based product — Switch — that is designed for power-users, but Agarwal and Jain want to introduce more modular and flexible products. Already Shift users account for around one-third of rentals, but Revv wants to go further.

Read More »

LinkedIn’s China rival Maimai raises $200M ahead of planned US IPO

Editor’s note: This post originally appeared on TechNode , an editorial partner of TechCrunch based in China. Maimai , China’s biggest rival to LinkedIn, has revealed today that it received a $200 million D Series investment back in April in what the company claims to be the largest investment in the professional networking market. That’s surprising but correct: LinkedIn went public in 2011 and was bought by Microsoft for $26 million in 2016 , but it raised just over $150 million from investors as a private company. Global venture capital DST led the round for Maimai which include participation from existing investors of IDG, Morningside Venture Capital, and DCM. The new capital takes Maimai to $300 million raised from investors, according to Crunchbase .  Caixin reports that the valuation of the company is more than $1 billion which would see the firm enter the global unicorn club. Beyond the fundraising, the firm said it plans to invest RMB 1 billion (around $150 million) over the next three years in a career planning program that it launched in partnership with over 1,000 companies. Those partners include global top-500 firm Cisco and Chinese companies such as Fashion Group and Focus Media. This investment could be the last time Maimai taps the private market for cash. That’s because the company is gearing up for a U.S. IPO and overseas expansion in the second half of 2019, according to the company founder and CEO Lin Fan. Launched in the fall of 2013, Maimai aims particularly at business people as a platform to connect professional workers and offer employment opportunities. The service now claims over 50 million users. As a Chinese counterpart of LinkedIn, Maimai has competed head-on with Chinese arm of the U.S

Read More »

Incentivai launches to simulate how hackers break blockchains

Cryptocurrency projects can crash and burn if developers don’t predict how humans will abuse their blockchains. Once a decentralized digital economy is released into the wild and the coins start to fly, it’s tough to implement fixes to the smart contracts that govern them. That’s why Incentivai is coming out of stealth today with its artificial intelligence simulations that test not just for security holes, but for how greedy or illogical humans can crater a blockchain community. Crypto developers can use Incentivai’s service to fix their systems before they go live. “There are many ways to check the code of a smart contract, but there’s no way to make sure the economy you’ve created works as expected,” says Incentivai’s solo founder Piotr Grudzień. “I came up with the idea to build a simulation with machine learning agents that behave like humans so you can look into the future and see what your system is likely to behave like.” Incentivai will graduate from Y Combinator next week and already has a few customers. They can either pay Incentivai to audit their project and produce a report, or they can host the AI simulation tool like a software-as-a-service. The first deployments of blockchains it’s checked will go out in a few months, and the startup has released some case studies to prove its worth. “People do theoretical work or logic to prove that under certain conditions, this is the optimal strategy for the user. But users are not rational. There’s lots of unpredictable behavior that’s difficult to model,” Grudzień explains.

Read More »