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- China’s electric carmaker WM Motor pulls in $1.47 billion Series DChinese electric vehicle startup WM Motor just pocketed an outsize investment to fuel growth in a competitive landscape increasingly coveted by foreign rival Tesla. The five-year-old company raised 10 billion yuan ($1.47 billion) in a Series D round, it announced on Tuesday, which will pay for research and development, branding, marketing and expansion of sales channel. WM Motor, backed by Baidu and Tencent, is one of the highest funded EV startups in China alongside NIO, Xpeng and Li Auto, all of which have gone public in New York. With its latest capital boost, WM Motor could be gearing up for an initial public offering. As Bloomberg’s sources in July said, the company was weighing a listing on China’s Nasdaq-style STAR board as soon as this year. Days before its funding news, WM Motor unveiled its key partners and suppliers: Qualcomm Snapdragon’s cockpit chips will power the startup’s in-cabin experience;… ..... Read More.5 hours ago
- Amazon criticised over ‘Black Lives Don’t Matter’ capsA barrister questions whether the retailer has any checks in place after spotting the racist hats. ..... Read More.11 hours ago
- Broadband: Old TV signal hit village internet speed for 18 monthsConnectivity was disrupted each morning, causing issues for households trying to get online. ..... Read More.11 hours ago
- ‘Lack of investment’ behind snarled-up legal systemCourt cases face serious delays in the UK and lawyers say more investment in technology would help. ..... Read More.11 hours ago
- Impossible Foods nabs some Canadian fast food franchises as it expands in North AmericaAfter rolling out in some of Canada’s most high-falutin burger bistros, Impossible Foods is hitting Canada’s fast casual market with new menu items at national chains like White Spot and Triple O’s, Cactus Club Cafe and Burger Priest. While none of those names mean anything to yours truly, they may mean something to our friendly readers to the North. However, I have heard of Qdoba, Wahlburgers and Red Robin. And Canadian customers can also pick up Impossible Foods -based menu items at those chains too. Since its debut at Momofuku Nishi in New York in 2016, the Impossible Burger is now served in 30,000 restaurants across the U.S. and is available in 11,000 grocery stores across America. The Silicon Valley manufacturer of meat substitutes expects that Canada, the company’s first market outside of Asia, may become its largest market — second only to the U.S. … ..... Read More.12 hours ago
- Daily Crunch: This TikTok deal is pretty confusingCompanies send out conflicting messages about the TikTok deal, Microsoft acquires a gaming giant and the WeChat ban is temporarily blocked. This is your Daily Crunch for September 21, 2020. The big story: This TikTok deal is pretty confusing This keeps getting more confusing. Apparently TikTok’s parent company ByteDance has reached a deal with Walmart and Oracle that will allow the Chinese social media app to continue operating in the United States, and the deal has been approved by Donald Trump. But it’s hard to tell exactly what this agreement entails. ByteDance said it would retain 80% control of TikTok, while selling 20% of the company to Walmart and Oracle as “commercial partner” and “trusted technology partner,” respectively. However, Oracle released a seemingly conflicting statement, claiming that Americans will have majority ownership and “ByteDance will have no ownership in TikTok Global.” So what’s going on here?… ..... Read More.12 hours ago