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Archivo del Autor: Belen De Leon

Rally racing spectators are about to see a bump in their own safety – Roadshow

The FIA and Siemens are partnering to leverage autonomous tech against running over spectators.
Source: CNET

Ginetta's Akula supercar has race-inspired aerodynamics – Roadshow

The new car will also have a claimed 600 horsepower and will cost $532,000.
Source: CNET

2020 Mitsubishi ASX debuts in Geneva, hints at Outlander Sport for US – Roadshow

This is a close preview of the US-market Mitsubishi Outlander Sport.
Source: CNET

Sea is raising up to $1.5B for its Shopee e-commerce business in Southeast Asia

Alibaba is about to get a jolt from its largest rival in Southeast Asia. Sea, the Nasdaq-listed business, is raising as much as $1.5 billion from a new share offering that’s sure to be funneled into its Shopee e-commerce business.

Singapore-based Sea said in a filing that it plans to offer 60 million American Depositary Shares (ADS) at a price of $22.50 each. That could raise $1.35 billion, but that number could increase by a further $202 million if underwriters take up the full allotment of 9 million additional shares that are open to them. If that were to happen, the grand total raised would pass $1.5 billion. (Shopee raised $500 million in a sale last year.)

Sea said it would use the capital for “business expansion and other general corporate purposes.” That’s a pretty general statement and its business span gaming (Garena) and payments (AirPay), but you would imagine that Shopee, its primary focus these days, would be the main benefactor.

The $22.50 price represents a discount on Sea’s current share price — $24.06 at the time of writing — and the timing sees Sea take advantage of a recent share price rally. The company announced its end of year financials for 2018 last month, but which included positive progress for Shopee and Garena.

Whilst it remains unprofitable, Shopee saw annual GMV — total e-commerce transactions, an indicator of business health — cross $10 billion for the first time, growing 117 percent in the fourth quarter alone.

Those green shoots were met with enthusiasm by investors, as trading drove the stock price to a record high since its October 2017 IPO. That, in turn, made founder Forrest Li a billionaire on paper and gave Sea a market cap of over $8 billion.

Shopee shares have rallied after its 2018 financial report showed signs of promising growth for its Shopee e-commerce business

The capital is very much needed, however, as Shopee is some way from profitability and that is dragging down Sea’s overall business.

While adjusted revenue for Shopee increased by over 1,500 percent last year, it represented just over one-quarter of Sea’s overall $1 billion income in 2018 and contributed heavily to the parent company’s net loss of $961 million. Shopee alone posted a $893 million net loss in 2018.

Shopee is up against some tough competitors in Southeast Asia, most of which have strong links to Alibaba. Those include Alibaba’s own AliExpress service, Lazada — the e-commerce service it acquired — and Tokopedia, the $7 billion-valued Indonesian company that counts Alibaba and SoftBank’s Vision Fund among its backers.

Sea claims to be the largest e-commerce firm in “Greater Southeast Asia” — a classification that includes Taiwan alongside Southeast Asia — although direct comparisons are not possible since Alibaba doesn’t provide detailed information on its e-commerce businesses outside of China.

Alibaba said its international e-commerce businesses — which include many other services beyond Lazada — made $849 million in revenue during its most recent quarter, an annual increase of 23 percent. Lazada is in the midst of a transition — it appointed a new CEO in December — that has included a move away from direct sales. Alibaba said that impacted growth, with GMV rates slowing, but it pledged to continue its focus, having invested a fresh $2 billion into the business last year.

“We continue to invest resources to integrate Lazada’s business and technology operations into Alibaba with the aim of building a strong foundation for us to extend our offerings in Southeast Asia,” it said.


Source: TechCrunch

FDA approves esketamine nasal spray, the first new major depression drug in more than 30 years

In one of the most significant milestones for depression treatment in decades, the U.S. Food and Drug Administration announced today that it has approved a new drug with esketamine, a derivative of ketamine.

Made by Johnson & Johnson under the brand name Spravato, the drug is meant to be taken as a nasal spray in conjunction with an oral antidepressant and is targeted to patients who have not responded to other treatments. Spravato is the first major new depression treatment to be approved by the FDA since Prozac, which had less side effects than older antidepressants, hit the market more than 30 years ago, and is especially notable because it is supposed to work much more quickly than other drugs.

This is the first time the FDA has approved esketamine for any use (it approved ketamine as an anesthetic in 1970). Despite ketamine’s reputation as a recreational drug, doctors have been prescribing it off-label for years to patients who have not responded to antidepressants and other treatments. The FDA’s advisory committee voted 14-2 (with one abstention) for its approval last month.

The FDA approved esketamine with the caveat that Spravato will only be available through REMS (Risk Evaluation and Mitigation Strategies), its restricted distribution system for drugs with major safety concerns, citing the risk of sedation and dissociation, as well as potential for abuse and misuse. Patients administer the nasal spray themselves, but they will only be allowed to do so in a doctor’s office or clinic, and cannot take Spravato home with them.

Spravato’s effectiveness was evaluated in three short-term clinical trials, as well as one longer trial. One of the short-term studies, each four weeks long, found that the combination of Spravato and an oral antidepressant demonstrated a “statistically significant effect” compared to a placebo, sometimes within two days (the other two short-term trials did not meet pre-determined statistical tests for effectiveness).

In the longer trial, patients who had stabilized and continued with the medication combo took a “statistically significant longer time” to relapse than patients who received a placebo nasal spray with their oral antidepressant.


Source: TechCrunch

Samsung said to be working on two more foldable phones – CNET

One of the handsets will open outward instead of inward, while another will open vertically, Bloomberg reports.
Source: CNET

NASA's InSight Mars lander got stuck between a rock in a hard place – CNET

The robot’s heat-measuring probe, known as a “mole”, has hit a snag.
Source: CNET

Grab confirms $1.46B investment from SoftBank’s Vision Fund

Grab has become the newest addition to the SoftBank Vision Fund after it announced today that it has pulled in a $1.46 billion investment from the super fund. Grab said the new money will be used to further its super app strategy, which is aimed at making its service a daily app for Southeast Asian consumers, but it is also likely to be used to battle rival Go-Jek.

The deal — which was first reported by TechCrunch in December — takes Grab’s ongoing Series H round to $4.5 billion. Other investors in that round include Toyota, Booking Holdings, Microsoft and Hyundai. The new deal means Grab has now raised over $7.5 billion to date. Grab was last valued at $11 billion when it secured a $1 billion investment from Toyota to kick off this Series H in June, but that valuation is likely to have increased significantly since then.

Despite this huge injection, Grab confirmed that the round — a record for a Southeast Asian startup — is not closed yet. TechCrunch reported in December that the Series H funding goal, which was originally $2 billion, had been raised to $5 billion.

The Vision Fund deal has been months in the making. SoftBank is an existing investor in Grab and, as had already happened with Coupang and Tokopedia, it is transitioning its stake into the Vision Fund while dropping in additional investment capital as well.

“We have been working alongside Grab for a number of years and are privileged to support the evolution of its user-driven technologies. This investment will help the company explore exciting new opportunities across on-demand mobility, delivery and financial services as it continues to grow its offline-to-online platform across Southeast Asia,” said SoftBank’s David Thevenon in a statement.

Beyond ride-hailing, Grab also operates payments and food delivery businesses. Last year, it began working with third-party partners to bring additional services into the Grab, some of those partners include streaming service Hooq, Ping An Good Doctor and grocery delivery company HappyFresh.

Grab’s news today comes just a day after Go-Jek announced a $100 million injection into its ongoing Series H fund, which sources have told TechCrunch is aimed at raising $2 billion. The company, which is expanding in Southeast Asia, said it closed $1 billion from existing investors in January.

Go-Jek originated in Indonesia but, over the past six months, it has expanded into Vietnam, Thailand and Singapore with the Philippines also in its plans.


Source: TechCrunch

The NSA Makes Ghidra, a Powerful Cybersecurity Tool, Open Source

No one’s better at hacking than the NSA. And now one if its powerful tools is available to everyone for free.
Source: Wired

Prosecutors find Uber not criminally liable in 2018 Arizona self-driving crash that killed a pedestrian

Yavapai County prosecutors said today that Uber is not criminally liable in a crash last year when one of its self-driving cars fatally struck a pedestrian in Tempe, Arizona.

The autonomous SUV, which had a backup driver behind the wheel, collided with Elaine Herzberg while she was walking across the street. She later died as a result of her injuries. After the crash, Uber suspended its self-driving test program on public roads for nine months.

In a letter to the Maricopa County Attorney, prosecutor Sheila Polk wrote that based on its investigation, the Yavapai County Attorney’s office had determined that a video of the collision “likely does not accurately depict the events that occurred.” While “there is no basis” for Uber to be held criminally liable, Polk recommended that case be referred to Tempe police to collect further evidence related to the vehicle’s backup driver, Rafaela Vasquez. Police said last year Vasquez had been watching streaming videos on her smartphone while sitting behind the wheel.

Polk wrote that her office believes an expert analysis of the video to “closely match what (and when) the person sitting in the driver’s seat of the vehicle would or should have seen that night given the vehicle’s speed, lighting conditions and other relevant factors.”

Though Uber was found not criminally liable in the Tempe crash, The Information reported in December that a Uber manager had sent executives an email to warn about safety issues in its autonomous vehicle unit less than a week before Herzberg was killed.

TechCrunch has contacted Uber for comment.


Source: TechCrunch

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