bbc
gadgets to use
geeky gadgets
gizmodo
jalopnik
jezebel
kotaku
lifehacker
ny times
pocket lint
readwrite
tech republic
tech world
techcrunch
technology
the inventory
the next web
venture beat
wired
count
sauces
help
I'm confused... What am I doing here?

Choose which sources you wish to remain and you're all set. Use the buttons to turn sources on and off.

What do the different colours mean?

Depending on if any articles/links are visible on the page there are 4 modes to show the state of your chosen sources.

on / visible on page

off / visible on page

on / not visible on page

off / not visible on page

Fintech startups raised $34B in 2019 - techcrunch

Fintech startups raised $34B in 2019

Financial services startups raised less money in 2019 than they did in 2018 as VC firms looked to back late stage firms and focused on developing markets, a new report has revealed. According to research firm CB Insights’ annual report published this week, fintech startups across the world raised $33.9 billion* in total last year […]
techcrunch - 21 hours ago
Original Content podcast: Netflix’s ‘Locke & Key’ offers spooky delights - techcrunch

Original Content podcast: Netflix’s ‘Locke & Key’ offers spooky delights

At times, it can be hard to tell exactly who “Locke & Key” was made for. Adapted from a comic book series written by Joe Hill and illustrated by Gabriel Rodriguez, the show tells the story of the Locke family after they move into the mysterious Keyhouse, where they soon discover hidden keys that can […]
techcrunch - 22 hours ago
Do phones need to fold? - techcrunch

Do phones need to fold?

As Samsung (re)unveiled its clamshell folding phone last week, I kept seeing the same question pop up amongst my social circles: why? I was wondering the same thing myself, to be honest. I’m not sure even Samsung knows; they’d win me over by the end, but only somewhat. The halfway-folded, laptop-style “Flex Mode” allows you […]
techcrunch - 1 day ago
Investors in LatAm get bitten by the hotel investment bug as Ayenda raises $8.7 million - techcrunch

Investors in LatAm get bitten by the hotel investment bug as Ayenda raises $8.7 million

Some of Latin America’s leading venture capital investors are now backing hotel chains. In fact, Ayenda, the largest hotel chain in Colombia, has raised $8.7 million in a new round of funding, according to the company. Led by Kaszek Ventures, the round will support the continued expansion of Ayenda’s chain of hotels in Colombia and […]
techcrunch - 1 day ago
The RetroBeat: Why I switched from physical game collecting to digital - venture beat

The RetroBeat: Why I switched from physical game collecting to digital

OPINION: A few years ago, I started building up my collection of classic consoles and games. This was sparked in equal parts by nostalgia, finding some of my original cartridges in my parents’ basement, and the convenient opening of a local store that sold retro games. But after a few years of working on my collection, […]
venture beat - 1 day ago
SpaceX said to be seeking around $250 million in funding, boosting valuation to roughly $36 billion - techcrunch

SpaceX said to be seeking around $250 million in funding, boosting valuation to roughly $36 billion

SpaceX is looking to raise around $250 million in new funding according to a new report from CNBC’s Michael Sheetz. The additional cash would bring SpaceX’s total valuation to around $36 billion, according to CNBC’s sources – an increase of more than $2.5 billion vs its most recently reported valuation. The rocket launch company founded […]
techcrunch - 1 day ago
Trump’s Election Day YouTube takeover feels very different in 2020 - techcrunch

Trump’s Election Day YouTube takeover feels very different in 2020

According to a report from Bloomberg, the Trump campaign called dibs on some of the most prized ad space online in the days leading up to the 2020 U.S. election. Starting in early November and continuing onto Election Day itself, the campaign will reportedly command YouTube’s masthead, the space at the very top of the […]
techcrunch - 1 day ago
Report: Outdoor Voices founder Tyler Haney is stepping down as CEO as growth slows - techcrunch

Report: Outdoor Voices founder Tyler Haney is stepping down as CEO as growth slows

Tyler Haney, the founder and chief executive of activewear label Outdoor Voices, has stepped down, according to the Business of Fashion. We’ve reached out to Haney directly, as well as board members from the venture firms that have backed the company, including General Catalyst and Forerunner Ventures, and we hope to update this story accordingly. […]
techcrunch - 1 day ago
Hot Wheels made two remote-controlled Tesla Cybertruck toys - techcrunch

Hot Wheels made two remote-controlled Tesla Cybertruck toys

Hot Wheels will ship you a Cybertruck long before Tesla is likely to make any deliveries on their electric retro-future wheels trapezoid: The toy maker just unveiled two different RC Cybertruck models, including a 1:64 scale model at just $20 – and a much larger 1:10 scale version for $400. These are available to pre-order […]
techcrunch - 1 day ago
Do AI startups have worse economics than SaaS shops? - techcrunch

Do AI startups have worse economics than SaaS shops?

A few days ago, Andreessen Horowitz’s Martin Casado and Matt Bornstein published an interesting piece digging into the world of artificial intelligence (AI) startups, and, more specifically, how those companies perform as businesses. Core to the argument presented is that while founders and investors are wagering “that AI businesses will resemble traditional software companies,” the […]
techcrunch - 1 day ago
SpaceX anticipates building “many rockets” as it iterates Starship towards orbital flight this year - techcrunch

SpaceX anticipates building “many rockets” as it iterates Starship towards orbital flight this year

SpaceX founder Elon Musk has been sharing a number of updates about his company’s progress on Starship this week. Along with footage of the assembly process of the current ‘SN1’ prototype of Starship, he explained on Twitter some of the other considerations and strategies the company is working with as it works on the new […]
techcrunch - 1 day ago
Daily Crunch: Coronavirus causes likely PC shipment decline - techcrunch

Daily Crunch: Coronavirus causes likely PC shipment decline

The coronavirus outbreak continues to impact the tech industry, Facebook’s Libra Association signs up a new partner and short-form video service Quibi is available for pre-order. Here’s your Daily Crunch for February 21, 2020. 1. PC shipments expected to drop this year because of coronavirus outbreak The coronavirus outbreak could result in at least a […]
techcrunch - 1 day ago
These leaders are coming to Robotics + AI on March 3. Why aren’t you? - techcrunch

These leaders are coming to Robotics + AI on March 3. Why aren’t you?

TechCrunch Sessions: Robotics + AI brings together a wide group of the ecosystem’s leading minds on March 3 at UC Berkeley. Over 1,000+ attendees are expected from all facets of the robotics and artificial intelligence space — investors, students, engineers, C-levels, technologists and researchers. We’ve compiled a small list of highlights of attendees’ companies and […]
techcrunch - 1 day ago
DSP Concepts raises $14.5M for its Audio Weaver platform - techcrunch

DSP Concepts raises $14.5M for its Audio Weaver platform

DSP Concepts — a startup whose Audio Weaver software is used by companies as varied as Tesla, Porsche, GoPro and Braun Audio — is announcing that it’s raised $14.5 million in Series B funding. The startup goal, as explained to me by CEO Chin Beckmann and CTO Paul Beckmann (yep, they’re a husband-and-wife founding team), […]
techcrunch - 2 days ago
The DeanBeat: We don’t get to celebrate games enough - venture beat

The DeanBeat: We don’t get to celebrate games enough

Ed Boon was one of the elder statesmen at the Dice Awards last week. He worked on the first Mortal Kombat game with three other people 27 years ago, and here he was accepting an award for Mortal Kombat 11, which was voted the best fighting game at the prestigious awards show in Las Vegas. […]
venture beat - 2 days ago
Shopify joins Facebook’s cryptocurrency Libra Association - techcrunch

Shopify joins Facebook’s cryptocurrency Libra Association

After eBay, Visa, Stripe, and other high-profile departures, the Libra Association scored a win today with the addition of Shopify. The ecommerce platform will become a Libra Association member, contributing financially and operating a node that processes transactions for the Facebook-originated stable coin. Shopify stressed that helping merchants reduce fees and bringing commerce opportunities to […]
techcrunch - 2 days ago
Coway Airmega AP-1512HHS: Smart Air Purifier and Clean Design - readwrite

Coway Airmega AP-1512HHS: Smart Air Purifier and Clean Design

However, purified air also provides health benefits to anyone that works in an office or spends long periods at home. To address these concerns, numerous air purifiers have appeared on the market to clear the air. The latest one is the Coway Airmega. Here’s my review of this smart air purifier. About the Coway Airmega […] The post Coway Airmega AP-1512HHS: Smart Air Purifier and Clean Design appeared first on ReadWrite.
readwrite - 2 days ago
Anomalous data can lead to growth opportunities - techcrunch

Anomalous data can lead to growth opportunities

Julian Shapiro Contributor Share on Twitter Julian Shapiro is the founder of BellCurve.com, a growth marketing team that trains startups in advanced growth, helps you hire senior growth marketers and finds you vetted growth agencies. He also writes at Julian.com. More posts by this contributor How to advertise a podcast in 2020 Gauging email success, […]
techcrunch - 2 days ago
Why Dropbox shares are soaring after it reported earnings - techcrunch

Why Dropbox shares are soaring after it reported earnings

While the broader SaaS category has seen huge valuation gains in recent quarters, Dropbox has not. But perhaps the environment is changing for the company with its latest results.
techcrunch - 2 days ago
Equity is not always the answer - techcrunch

Equity is not always the answer

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week was a fun combination of early-stage and late-stage news, with companies as young as seed-stage and as old as PE-worthy joining our list of topics. Danny and Alex were back on hand to chat once again. […]
techcrunch - 2 days ago
LOAD MORE TECH
bbc
gadgets to use
geeky gadgets
gizmodo
jalopnik
jezebel
kotaku
lifehacker
ny times
pocket lint
readwrite
tech republic
tech world
techcrunch
technology
the inventory
the next web
venture beat
wired
count
sauces
help
I'm confused... What am I doing here?

Choose which sources you wish to remain and you're all set. Use the buttons to turn sources on and off.

What do the different colours mean?

Depending on if any articles/links are visible on the page there are 4 modes to show the state of your chosen sources.

on / visible on page

off / visible on page

on / not visible on page

off / not visible on page

techcrunch
Tencent to grow gaming empire with $148M acquisition of Conan publisher Funcom in Norway

Tencent to grow gaming empire with $148M acquisition of Conan publisher Funcom in Norway

techcrunch - 1 month ago

Tencent, one of the world’s biggest videogaming companies by revenue, today made another move to help cement that position. The Chinese firm has made an offer to fully acquire Funcom, the games developer behind Conan Exiles (and others in the Conan franchise), Dune and some 28 other titles. The deal, when approved, would value the Oslo-based company at $148 million (NOK 1.33 billion) and give the company a much-needed cash injection to follow through on longer-term strategy around its next generation of games.

Funcom is traded publicly on the Oslo Stock Exchange, and the board has already recommended the offer, which is being made at NOK 17 per share, or around 27% higher than its closing share price the day before (Tuesday).

The news is being made with some interesting timing. Today, Tencent competes against the likes of Sony, Microsoft and Nintendo in terms of mass-market, gaming revenues. But just earlier this week, it was reported that ByteDance — the publisher behind breakout social media app TikTok — was readying its own foray into the world of gaming.

That would set up another level of rivalry between the two companies, since Tencent also has a massive interest in the social media space, specifically by way of its messaging app WeChat . While many consumers will have multiple apps, when it comes down to it, spending money in one represents a constraint on spending money in another.

Today, Tencent is one of the world’s biggest video game companies: in its last reported quarter (Q3 in November), Tencent said that it make RMB28.6 billion ($4.1 billion) in online gaming revenue, with smartphone games accounting for RMB24.3 billion of that.

Acquisitions and controlling stakes form a key part of the company’s growth strategy in gaming. Among its very biggest deals, Tencent paid $8.6 billion for a majority stake in Finland’s Supercell back in 2016. It also has a range of controlling stakes in Riot Games, Epic, Ubisoft, Paradox, Frontier and Miniclip. These companies, in turn, also are making deals: just earlier this month it was reported (and sources have also told us) that Miniclip acquired Israel’s Ilyon Games (of Bubble Shooter fame) for $100 million.

Turning back to Funcom, Tencent was already an investor in the company: it took a 29% stake in it in September 2019 in a secondary deal, buying out KGJ Capital (which had previously been the biggest shareholder).

“Tencent has a reputation for being a responsible long-term investor, and for its renowned operational capabilities in online games,” said Funcom CEO Rui Casais at the time. The insight, experience, and knowledge that Tencent will bring is of great value to us and we look forward to working closely with them as we continue to develop great games and build a successful future for Funcom.

In retrospect, this was laying the groundwork and relationships for a bigger deal just months down the line. 

“We have a great relationship with Tencent as our largest shareholder and we are very excited to be part of the Tencent team,” Casais said in a statement today. “We will continue to develop great games that people all over the world will play, and believe that the support of Tencent will take Funcom to the next level. Tencent will provide Funcom with operational leverage and insights from its vast knowledge as the leading company in the game space.

The rationale for Funcom is that the company had already determined that it needed further investment in order to follow through on its longer-term strategy.

According to a statement issued before it recommended the offer, the company is continuing to build out the “Open World Survival segment” using the Games-as-a-Service business model (where you pay to fuel up with more credits); and is building an ambitious Dune project set to launch in two years.

“Such increased focus would require a redirection of resources from other initiatives, the most significant being the co-op shooter game, initially scheduled for release during 2020 that has been impacted by scope changes due to external/market pressures with increasingly strong competition and internal delays,” the board writes, and if it goes ahead with its strategy, “It is likely that the Company will need additional financing to supplement the revenue generated from current operations.”

sauce: techcrunch
CLOSE