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The video conferencing space is so hot, we’re getting steamy M&A action now. Apple wants to get stylish with over the ear headphones. Robinhood bucks a couple of trends with a new round. And is Facebook’s Libra just gonna drop like a stone?
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In a notable move within the booming video conferencing sector, Verizon has agreed to acquire Blue Jeans Network for less than $500 million. This acquisition aims to enhance Verizon's offerings to corporate clients as they roll out 5G networks, enabling services such as telemedicine and remote learning. Blue Jeans, targeting businesses with encrypted video conferencing, has seen an increase in usage during the pandemic, experiencing a surge in clients as traditional tools like Zoom took precedence.
Apple is reportedly working on two new models of over-the-ear wireless headphones featuring customizable magnetic ear cups and bands. These designs, one positioned as a premium model and the other fitness-oriented, illustrate Apple’s aim to blend functionality with style, reminiscent of their modular designs seen in the Apple Watch. The headphones will incorporate similar tech to AirPods Pro and are intended to compete with high-end brands like Bose and Sennheiser.
Sony anticipates a limited initial production run for the PlayStation 5 amid expectations of lower demand due to its planned high launch price. Reports suggest that the company will focus on producing 5 to 6 million units in the first fiscal year, in contrast to the 7.5 million sold shortly after the PS4's release. The economic impact of COVID-19 has influenced Sony's promotional strategies, leading to delays in marketing activities.
Despite previous trading outages, Robinhood is reportedly raising $250 million led by Sequoia Capital, bringing its valuation to around $8 billion. The firm has thrived during the pandemic, with a tripling in revenue compared to the previous year, attributed to a spike in trading activities and new account creations.
In response to the pandemic's economic fallout, Google has decided to slow hiring for the remainder of 2020 while recalibrating its investment strategies. The company aims to focus on essential hires while navigating a downturn in ad revenue as businesses reduce marketing spend.
Facebook is adjusting its Libra cryptocurrency project, moving away from ambitious plans to create a global financial system. The updated approach will involve creating a more conventional payment network, focusing on local currency-backed coins rather than the initially proposed multi-currency system. This shift indicates a response to global regulatory pressures.
As COVID-19 has reshaped consumer behavior, Amazon is redesigning its platform to encourage customers to purchase fewer items, cancelling major promotional events like Mother's Day sales. This decision follows the company's need to prioritize essential item delivery and implement operational adjustments in response to court orders in France.
TikTok is implementing new features to help parents manage their children's app usage, including Family Safety Mode that allows for screen time limits and direct management of settings from a parent's device. This update follows previous privacy concerns and aims to enhance user safety.
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