TikTok rival Triller exploring IPO through SPAC merger: Report

  • Video app Triller is exploring the possibility of an IPO, sources told Reuters.
  • The company is reportedly in talks to set up a public listing via a merger with a special purpose acquisition company (SPAC).
  • It is simultaneously pursuing a private funding round, and sources told Reuters it had raised $100 million at a valuation of $1.25 billion so far.
  • The sources said no deal is yet firm, and that Triller is still deciding which path to take.
  • Visit Business Insider’s homepage for more stories.

Short-form video app Triller, which bills itself as a rival to the wildly successful TikTok, is reportedly exploring an IPO.

Reuters reported Sunday that Triller was in talks with investment bank Farvahar Partners about a potential merger and IPO.

Sources told Reuters the merger, if successful, would be with a special purpose acquisition company (SPAC). 

SPACs are essentially shell companies that go public to raise

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Exclusive: TikTok Rival Triller Explores Deal to Go Public – Sources | Top News

By Joshua Franklin and Echo Wang

(Reuters) – Triller Inc, a budding competitor to popular short-video app TikTok, is in discussions with blank-check acquisition companies about a merger which would take the U.S. social media company public, according to people familiar with the matter.

The deal would come as Triller seeks to capitalize on TikTok’s woes. U.S. President Donald Trump’s administration has ordered TikTok’s Chinese parent ByteDance to divest the app, citing concerns that the data of U.S. citizens could be accessible to China’s Communist Party government. TikTok has sued the U.S. government to stave off a ban from U.S. app stores while deal negotiations continue.

Triller, which was launched in 2015 and only has a fraction of the 100 million users that TikTok boasts in the United States, has said it hopes that the uncertainty over its rival’s future will drive more influencers and users to its platform.

Triller

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Xilinx soars 17% on report rival AMD is in talks to buy it for $30 billion

A Xilinx sign is seen during the China International Import Expo (CIIE), at the National Exhibition and Convention Center in Shanghai
  • Chip producer Xilinx leaped as much as 17% on Friday after The Wall Street Journal reported Advanced Micro Devices is in talks to buy the firm for more than $30 billion.
  • A deal could come together as soon as next week and mark the latest major acquisition in the semiconductor industry, sources told The Journal.
  • Xilinx closed Thursday with a market cap of nearly $26 billion, making the potential takeover price an appealing prospect for shareholders.
  • Should the deal go through, it would fortify AMD’s standing in the communications technology space and help it better compete with rival firm Intel.
  • Watch Xilinx trade live here.

Chipmaker Xilinx surged as much as 17% on Friday after The Wall Street Journal reported Advanced Micro Devices is in talks to buy

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AMD is in late-stage talks to buy rival chipmaker Xilinx: report

Advanced Micro Devices (AMD) is in late-stage talks geared toward acquiring rival processor giant Xilinx, reports suggest.

According to the Wall Street Journal, the discussion, now in “advanced” stages, could be valued at over $30 billion. 

The publication reported on Thursday that an agreement could be finalized as early as next week. 

However, sources close to the matter added that discussions had previously “stalled” before restarting, and so there is no concrete guarantee that an acquisition bid would be accepted or go ahead at all. 

See also: AMD unveils Ryzen 5000 processors, including ‘the world’s best gaming CPU’

Over this year, AMD has launched a variety of new processors including the AMD Radeon Pro 5000 gaming processors, Ryzen & Ryzen Pro 4000G, and the enterprise Epyc 7Fx2 series. 

The company has enjoyed a surge in share price over the past 12 months, rising from roughly $28 in October 2019 to

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AMD Is Said to Be in Talks to Buy Rival Chipmaker Xilinx

(Bloomberg) — Advanced Micro Devices Inc. is in advanced discussions to buy Xilinx Inc. in a takeover that could be valued at $30 billion, according to people familiar with the matter.

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The deal could come together as early as next week, though things remain in flux, the people said, asking not to be identified discussing a private deal. The Wall Street Journal first reported on the negotiations.

A combination with Xilinx would give AMD Chief Executive Officer Lisa Su more of the pieces needed to break Intel Corp.’s stranglehold on the profitable market for data-center computer components. It would follow moves by rival Nvidia Corp., which bought Mellanox Technologies Ltd. and aims to use its pending acquisition of Arm Ltd. to grab more of that business.

Acquiring Xilinx, which makes programmable chips for wireless networks, would also help AMD expand into a new market just as telecommunications carriers

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Apple purges rival products from store ahead of rumored AirPods Studio, new HomePod

Apple at the end of September ceased online sales of third-party headphones, earphones, speakers and other devices as the company prepares to debut a slate of new audio products like AirPods Studio and a more affordable HomePod.

Products from major manufacturers including Bose, Logitech, and Sonos disappeared from the online Apple Store late last month, while employees at brick-and-mortar outlets were recently told to remove third-party headphone and speaker items from store shelves, reports Bloomberg.

A quick check reveals no products from Bose or Logitech’s Ultimate Ears brand for sale on Apple’s website. Similarly, searches for “Sonos” deliver Apple alternatives like HomePod and the Beats Pill+ portable speaker.

Prior to the change, Apple was an important reseller for third-party audio device makers that jockeyed for space on Apple Store shelves. A spot in the tech giant’s curated catalog granted access to well-heeled consumers looking for premium iPhone, iPad

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Convoy rival Uber Freight raises $500M, valuing trucking logistics business at $3.3B

(Uber Freight Photo)

Uber Freight, the trucking logistics arm of Uber, today announced a $500 million investment led by Greenbriar that values the unit at $3.3 billion.

Uber Freight helps match carriers with shipper’s loads, using technology to expedite and automate a traditionally manual process that involves email and phone calls. Since launching in 2017, it has nearly 65,000 carriers in its network and works with shippers including AB Inbev, Nestle, LG, Niagara Bottling, Heineken, Land O’Lakes, and more.

Convoy hires former Expedia CEO as president and COO as digital freight startup tops 1k employees

“Uber Freight has created an innovative and effective approach to logistics technology that we believe is highly scalable in the coming years,” Michael Weiss, managing partner of Greenbriar, said in a statement. “In particular, we believe that carriers and shippers will be increasingly attracted to the convenience and simplicity that Uber Freight offers in a

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Billionaire Gaming Brothers Are Now Tencent’s Biggest Rival

(Bloomberg) — The coronavirus pandemic has created a new gaming giant, boosting the fortune of its two founding brothers.

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Thanks to a rush of new gamers, Playrix has become the world’s largest mobile-game developer after Tencent Holdings Ltd., according to researcher AppAnnie. Its founders and sole owners, 38-year-old Igor and Dmitry Bukhman, 35, have more than doubled their wealth and are now worth $3.9 billion each, according to the Bloomberg Billionaires Index.

That didn’t happen by accident: At the height of the health crisis, as companies cut down on advertising, the mobile-game developer took advantage of lower ad prices to increase its marketing. Monthly users surged 50% to 180 million at the peak of the outbreak, and sales jumped about 60% to $1.75 billion in the first eight months of the year, the company said. The number of gamers has since stabilized at 150 million monthly.

“Successful games

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Peloton Shares Backpedal as Amazon Unveils ‘Prime Bike’ Rival

A new tech-enabled stationary workout bike from e-commerce giant Amazon.com  (AMZN) – Get Report is looking to nibble on Peloton’s  (PTON) – Get Report pedals. 

Peloton shares traded lower on Tuesday after rival exercise bike maker Echelon announced a deal with Amazon.com to produce and sell its own connected bike called Prime Bike – at a fraction of the cost of a Peloton.

Touted as Amazon’s first-ever connected fitness product, the Prime Bike will give customers access to hundreds of live and on-demand classes, Echelon said in a statement. It will retail for $499 vs. near-$4,000 for a Peloton.

Peloton has been on a tear over the past six months as fitness buffs have turned to the Internet-connected workout-at-home machines and the company’s online interactive fitness classes as the coronavirus pandemic has kept many gyms closed.

Now others like Amazon are looking to take a piece

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SteelSeries Rival 3 Wireless gaming mouse runs for a year on two AAA batteries

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Steelseries

Steelseries has been quiet this year, but maybe that’s about to change. Last week it announced the SteelSeries Arctis 9 dual-wireless gaming headset for PC and PS4 and now it’s releasing the Rival 3 Wireless gaming mouse, a cordless version of its entry-level Rival 3 mouse announced in January. 

The company always seems to offer a bit more than the competition and that’s the case here. The Rival 3 Wireless has a new sensor made with help from sensor experts PixArt. The TrueMove Air sensor is rated at 18,000 counts per inch (CPI) for more precise onscreen movement and a top tracking speed of 400 inches per second (IPS) and tilt tracking. 

The mouse can be used wired or you can choose between Bluetooth or the Steelseries’

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