We stand firm on what we said earlier.
No, this is not the news portal or some shit (OK might be a shit).
This artisode is packed with this week’s most important and interesting news from the Tech, HR and Startup world. Before packing your bags for the weekend, check out what’s making waves as well as some cool new innovations. (ha. now it does sound like a news portal)
Jeff Bezos is the Richest person on the earth
Jeff Bezos is no longer the Richest Person:
Yup, he became he richest person on this planet (easy to say when the planet competing is Earth) for a day (or some hours, not sure) . He was the Anil Kapoor fron Nayak. Ek din ke liye Richest person ban ke dikhau.
Amazon reported its second quarter earnings today, showing a profit of just $197 million on strong sales of $38 billion. The dip in profit, a drop of 77 percent from $857 million this time a year ago, is mainly due to Amazon’s aggressive investments in its own business.
It does mean, however, that Bezos’ personal fortune, given his roughly 80 million shares in Amazon, will take a sizable enough hit to keep him from climbing back to the top. Bezos was already back at second place at the time of market close today, but strong enough earnings would have clinched him the crown going into tomorrow. Yet Amazon’s stock is down 2 percent in after-hours trading, thanks to the earnings miss, making it highly likely Microsoft co-founder Bill Gates will hold onto the title with his personal fortune of $90.8 billion and climbing.
Of course, no one was really expecting Bezos to stay atop the list for long but mark my words, he’ll be the world’s richest person but nor for a day
SpaceX is Now one of the world’s most Valuable Privetly held companies
SpaceX, the rocket maker founder by the reallife Ironman, also a billionaire, Elon Musk. It raised up to $350 million in new financing and is now valued at around $21 billion, making it one of the..blah blah,,,
With the latest funding round, SpaceX joins an elite club of seven venture-backed companies valued at $20B or more around the world. Investors have poured money into companies, many of which operate capital intensive businesses such as Uber and Airbnb, Snapchat. Sorry, not Snapchat it went public in March at a market capitalization of $24 Billion, which has since fallen to about $16.5 billion
Convoy raises $62M from Bill Gates and other luminaries to transform trucking industry with technology
First of all what the heck is convoy. With a large network of independent trucking companies, Convoy uses technology to find the right truck for every shipment. And with real-time GPS on all loads, shippers never have to wonder where their freight is.
Now a Seattle startup, which just raised cash from Bill Gates and other tech luminaries, is looking to make life easier for drivers like Brooks and shippers like Unilever and Anheuser-Busch.
Convoy today announced a massive $62 million funding round led by Y Combinator’s Continuity Fund, the investment arm of Silicon Valley-based accelerator Y Combinator. Also participating in the Series B round is Cascade Investment, the private investment vehicle of Gates, Mosaic Ventures and Expedia Chairman Barry Diller. Gates, the Microsoft co-founder, has other related investments in industries like railroad and agricultural.
LinkedIn co-founder Reid Hoffman, on behalf of Greylock Partners, also invested again. Previous Convoy backers include Amazon CEO Jeff Bezos; Salesforce CEO Marc Benioff; Code.org founders Hadi and Ali Partovi; and former Starbucks president Howard Behar. Total funding in the 2-year-old company is now $80 million.