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In Today’s Edition
Dailyhunt in talks to acquire social network startup Koo
Elon Musk’s bold claim: Tesla’s Roadster to hit 0-60 mph in less than one second
Disney and Indian conglomerate Reliance will merge their media businesses
Adobe’s new prototype generative AI tool is the ‘Photoshop’ of music-making and editing
Man in remission from blood cancer and HIV after remarkable treatment
🚀Startups Nuts
Media startup DailyHunt wants to acquire social network startup Koo, sources informed TechCrunch. Discussions are in the advanced stages and could be finalized within the next few weeks. The transaction will likely involve a share-swap agreement. To date, Koo has raised $60M from Tiger Global, Accel, 3One4 Capital, Mirae Asset, Blume, and other investors. Co-founder Mayank Bidawatka was looking for a strategic partner last September to help the company unlock its next phase of growth. Dailyhunt's parent group, VerSe Innovation, has a reach of more than 300M users in India. The parent group last raised a $805M funding round in April 2022 from the Canada Pension Plan Investment Board, Ontario Teachers' Pension Plan Board, Sofina Group, and Baillie Gifford. Dailyhunt was last valued at $5B.
Other News
Ageas offered to buy Direct Line Insurance for around $3.4 billion
Glean, an AI enterprise search startup, raised over $200 million
Oishii, a vertical strawberry grower, raised $134 million
Mainstay Medical, a medical devices maker, raised $125 million
Unseenlabs, a maritime surveillance startup, raised $92 million
Ideogram raises $80M Series A for AI image generation
Exodigo, an underground mapping software maker raised $105M in Series A funding
Photoroom, a French photo-editing generative AI startup raised a Series B round worth $43M
🏭Business Nuts
Elon Musk claims that the Tesla Roadster, which he plans to unveil by the end of 2024, can accelerate from 0 to 60 mph in less than a second. The current record holder for a production car's fastest 0-60 mph is the Dodge Challenger SRT Demon 170, which can do it in 1.66 seconds. If Musk's claims are true, the Tesla Roadster will be faster than the speed of sound. Tesla aims to ship the car in 2025, four years after its original 2020 target.
Other News
Disney and Indian conglomerate Reliance will merge their media businesses in India, valuing the combined joint venture at $8.5B. Ambani’s wife, Nita Ambani, will chair the joint venture, while Viacom18 board member Uday Shankar will serve as vice chairperson.
Stripe's valuation rises to $65B after inking a deal with investors allowing current and former employees to cash out their shares.
Google hit with $2.3B antitrust lawsuit by Axel Springer, other European media companies over its advertising practices.
Kellogg’s CEO Gary Pilnick is under fire for a recent CNBC interview in which he suggested cereal for dinner as a viable money-saving solution for families experiencing economic hardship.
Coinbase’s popular crypto-trading app glitched Wednesday, displaying a balance of zero when many users opened their accounts. Coinbase assured its panicked customers: “Your assets are safe.
Bumble is cutting one-third of its staff and refocusing on growing its friend-finding Bumble BFF product, transitioning it from a dating app-like profile-swiping system to something more closely resembling a social networking app
Wendy’s clarified that when it said its new digital menu boards would enable “dynamic pricing,” a term Uber popularized for surging prices when demand is highest, it didn’t mean it’d actually adopt that same pricing practice. To them, “dynamic pricing” means… something else entirely? They won’t charge more during busy times, but rather prices will fluctuate to offer deals.
Microsoft has inked an agreement to purchase 10,000 carbon removal credits through 2025 from biochar project startup Bio-Logical Carbon.
📱Tech Nuts
Adobe's Project Music GenAI Control is a prototype tool that allows users to generate and edit music using text prompts. It has controls for customizing results and remixing sections of audio. The tool can generate audio based on a reference melody and extend the length of audio clips. It is unclear whether the tool will allow uploads of any audio as reference material or how long clips can be extended for. The tool isn't available to the public yet and no release date has been announced.
Other News
Honor is joining the flip phone party this year with a vertically folding smartphone — foldable phone sales are projected to rise 40% to 22m units in 2024.
Messaging app Telegram will launch an ad platform in March, allowing channel owners to receive 50% of revenue made from ads displayed in channels, paid via toncoin tokens.
Nvidia's Generalist Embodied Agent Research (GEAR) group will further advance and build capable AI-based entities that can operate with skill in both the virtual and physical worlds.
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🎁Miscellaneous
A Californian man who contracted blood cancer while living with HIV is in remission from both. The patient's treatment involved receiving a transplant of stem cells with a rare genetic mutation that provides resistance to HIV. The treatment targeted the blood cancer - HIV resistance was an extra benefit. The patient is the fifth person ever to overcome both illnesses.
💡What else are we reading and seeing?
The "she"-conomy is booming and expanding
Flawed valuations threaten $1.7 trillion private credit boom
The hottest housing markets for the super rich in 2024
Why law firms could be private equity’s next conquest
TikTok begins removing Universal Music songs
Don’t sacrifice your happiness for success
Ex-investment banker’s path to building a coffee company
3 great business podcasts for leaders
Einstein’s 7 rules for a better life
😎Fun Fact
Japanese Stock Rally Is Mainly Large Cap
🐦Joke of the Day
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