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Broadcom acquires cloud service provider VMware for $61 billion
Earlier this week, a report on Reuters announced Broadcom Inc‘s plans to acquire multi-cloud service provider VMware Inc for $60 billion. The global chipmaker just made good on its plans. But this time, VMware was valued at $61 billion. VMware was bought in a cash-and-stock transaction to help Broadcom venture into the enterprise software space. […]
Ex-Binance executives launch a $100M Crypto fund.
As the largest cryptocurrency exchange in the world, Binance is known for hiring the best. A group of former executives recently launched a $100 million venture fund. This venture fund is called Old Fashion Research (OFR). It focuses on the Metaverse and was created to bring more Crypto adoption to regions with emerging markets. These […]
V Bionic’s robotic glove wins Microsoft’s 20th Imagine Cup for student inventors.
Microsoft recently concluded its highly anticipated Imagine Cup competition. It announced on Twitter that the winner was a team of innovative students from Saudi Arabia. Every year, young students from all over the world showcase their unique designs at this competition, and this year’s winning team was V Bionic. The team is led by a […]
How hackers compromised Zola user accounts to purchase gift cards
Zola has disclosed that some hackers have compromised its users’ accounts to purchase gift cards. The wedding planning startup where couples can create websites, budgets, and gift registries, confirmed that hackers have gained access to its user accounts and denied its system breach. The incident became known last weekend after Zola users reported that their […]
Epic games temporarily wins the right to use its payment system on Google Play
On Friday, Epic games won a rather one-sided condition against Google App Store payment policies. The decision is backed up by years of litigation between Epic Games and the Google App Store. Epic Games and Google have reached a temporary ceasefire in their yet to be concluded legal battle over Bandcamp. Bandcamp is a digital […]
Are We Heading To A Global Economy Recession?
It’s right to ask if the world is heading to economic recession, given that 2021 witnessed some significant outbreaks, events, and policies that threatened the world economy. Since the turn of 2022, some factors have even increased the likelihood of a global recession. Stay tuned to see why you may witness a global recession sooner […]
Our stablecoin is now backed in part by non-US Government bonds- Tether
Tether, the issuer of the stablecoin, has claimed that its stablecoin is partially backed by non-US Government bonds. In its recent “attestation” report, the company equally said its holdings of U.S. Treasurys grew from 13% to $39.2 billion in the 2022 first quarter. For the amount of commercial paper, Tether fell from 17% to $20.1 […]
Meta freezes hiring for certain engineering roles while pausing the hiring of recruiters and low-level data scientists.
Meta is freezing hiring for some engineering roles and has stopped hiring recruiters and low-level data scientists. While the hiring freeze has made staff fear they might be laid off, the Meta CEO, Mark Zuckerberg, has downplayed layoff. In an internal meeting on Thursday, he said that job cuts aren’t being planned. According to Zuckerberg, […]
Jack Dorsey outlines Block’s bitcoin-centric future; Block is no longer just a payment firm.
On Wednesday, the Block executives, on its first investor day in five years, agreed that the company no longer wants to be seen as only a payment platform. The firm based in San Francisco held its investor day on Wednesday and made its case to Wall Street that its money app, Crypto, and music-streaming businesses […]
Earlybird acquires new €350M fund for western European startup
The year is no doubt a progressive one for the European startup ecosystem. The industry has continued to grow exponentially ever since its inception on the continent. Supported by funds to bolster the activities and affairs of these startups; the funds help early businesses thrive in a healthy space amidst big names. EarlyBird startup has […]