2019年8月1日
Twitter acquired a startup for $22.8 million last quarter
Twitter acquired a startup for $US22.8 million at some point between April and June of 2019. Twitter did not disclose the name of the company in the filing. It appears to be Fabula AI, a London-based machine learning (ML) startup that builds tech to fight fake news, that Twitter announced it had acquired for an undisclosed sum in June 2019.
Twitter said that it acquired Fabula AI to help build out its AI/ML research group, and that “this strategic investment in graph deep learning research, technology and talent will be a key driver as we work to help people feel safe on Twitter and help them see relevant information.”
Another option is that Twitter acquired a third, as-yet-undisclosed startup during the second quarter of 2019.
“The purchase price of $US22.8 million (paid in cash of $US20.5 million and indemnification holdback of $US2.3 million) for this acquisition was allocated as follows: $US4.9 million to developed technology, $US1.2 million to net liabilities assumed based on their estimated fair value on the acquisition date, and the excess $US19.1 million of the purchase price over the fair value of net assets acquired to goodwill.
Last week, Twitter announced its second-quarter financial results. It beat analysts expectations for revenue, bringing in $US841 million, with a 21% year-on-year increase in ad sales. It made $US37 million in profit, and its users grew at its fastest year-on-year rate since the summer of 2017 – a combination of factors that sent its stock jumping 7% in subsequent trading.
The US has cut its interest rate for the first time in a decade
The US Federal Reserve — the American equivalent of our own central bank, the Reserve Bank of Australia — has cut its interest rate by 0.25% as it seeks to keep its economy running hot. That’s because rate cuts lower the cost of borrowing, which typically encourages people to spend more money, stimulating the economy in turn.
Those concerns saw the Fed cut for the first time since 2008. That’s despite an otherwise strong economy, with unemployment at a 50-year low and the US in enjoying 121 months of economic expansion — the longest in the country’s history. The decision by the US Fed to cut on Thursday has far-reaching consequences. Global currencies and stockmarkets are often traded on in anticipation of what the central bank might do — and Australia is no exception.
The rate cut saw the Dow Jones close 1.23% lower, leading the Australian sharemarket lower when it opened on Thursday. That could help the Australian economy, reducing the price of exports and in turn increasing demand for them. The US Fed’s behaviour is also seen as a guide for other central banks. The RBA’s most recent cuts, for example, were in part inspired by Powell, who indicated he was open to cutting in the US. As the election date draws closer, Powell can expect even more scrutiny from the White House, with more cuts, perhaps, to come.
Lyft is halting its e-bike program in San Francisco after two bikes mysteriously erupted in flames
Two of Lyft’s electric-assist bikes have mysteriously erupted into flames in San Francisco. No one was injured. For that reason, Lyft says it’s temporarily suspending its e-bike program in the tech capital as it investigates why these e-bikes caught fire.
“Out of an abundance of caution, we are temporarily making the ebike fleet unavailable to riders while we investigate and update our battery technology,” a Lyft spokesperson said. Lyft only recently scored the legal rights to operate the e-bike program in San Francisco. On July 19, some 1,900 Lyft e-bikes flooded San Francisco, with docked or dockless capabilities.
Lyft said the weeks-old e-bike program had already seen 100,000 rides in the Bay Area. San Francisco is the only city in which Lyft operates e-bikes, so the suspension of the program only affects that area. Its classic bike and scooter share program is not affected.
Other e-bikes have caught fire recently. In New York City, a dockless Lime e-bike caught fire last week while a cyclist was on the bike. That fire was caused by vandalism to the bike.