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Archivo del Autor: Belen De Leon

Samsung Galaxy Fold buyers facing a longer wait for their handsets – CNET

Update for preorder customers offers a vague idea of when they might get their next update on shipping info.
Source: CNET

Luckin Coffee plans to raise over $500M in US IPO

Luckin Coffee, the ambitious Chinese upstart that’s going after Starbucks, could raise nearly $600 million from its upcoming IPO. That’s according to a price range released by the Chinese startup.

In a new filing, Luckin said it plans to sell 30 million shares at an initial range of $15-$17. That gives an estimated raise of $450 million to $510 million, but it could be bumped up if underwriters take up the additional allocation of 4.5 million shares. So, as a grand total, the listing could raise $586.5 million if the full offering is bought at the top of the range.

The company will list on the Nasdaq as ‘LK.’

Luckin filed to go public last month, just weeks after it closed a $150 million Series B+ funding round led by New York private equity firm Blackrock, which interestingly holds a 6.58 percent stake in Starbucks. The deal valued Luckin at $2.9 billion and it took the three-year-old company to $550 million raised from investors to date.

The company has burned through incredible amounts of cash as it tries to quickly build a brand that can rival Starbucks, and the presence that the U.S. firm has built over the last 20 years in China. Through aggressive promotions and coupons, the company posted a $475 million loss in 2018, its only full year of business to date, with $125 million in revenue. For the first quarter of 2019, it carded an $85 million loss with total sales of $71 million.

Starbucks CEO Kevin Johnson has been vocally dismissive of the viability of that strategy of “heavy, heavy discounts.”

“We’re deploying capital and building 600 new stores per year. [We’re] generating the return on invested capital that we believe is sustainable to continue to build new stores at this rate for many years to come,” he told CNBC in a recent interview.

Starbucks claims 30,000 stores worldwide. It has been in China for 20 years and it is aiming to reach 6,000 stores in the country by 2022. Luckin, fuelled by that VC money, has quickly scaled to reach 2,370 locations in under two years with plans to add a further 2,500 this year. That would see it overtake Starbucks — which has 3,600 stores across 150 Chinese cities — although that a metric gives a distorted view since Luckin specializes in digital orders and on-demand delivery. That’s in contrast to the retail model operated by Starbucks.


Source: TechCrunch

Amazon Go's first NY store is also the first to accept cash – CNET

The 12th Go store comes to the Brookfield Place mall near the World Trade Center.
Source: CNET

New Amazon Go store opens in NYC now offers cash sales – CNET

We got a sneak peek at the new Amazon Go store opening at Brookfield Place in New York City. With a swipe of your phone’s Amazon Go app you can enter the store and be tracked as you make a selection for purchase, then walk out and have the charge show up on your account without ever interacting with a cashier, though interestingly Amazon is now actually offering cash sales through an associate upon request.
Source: CNET

Master & Dynamic MW65 review: A high-end wireless noise-canceling headphone with a distinct design and smooth sound – CNET

With its durable, eye-catching design and smooth sound, the MW65 ANC gets high marks, but the $499 price tag hurts its broader appeal.
Source: CNET

Biological annihilation: 1 million species facing extinction within decades – CNET

The “most comprehensive assessment” of life on Earth shows a planet in crisis.
Source: CNET

Riot Games employees walk out to protest forced arbitration – CNET

Walkout comes after reports that female employees were subjected to sexual harassment.
Source: CNET

Apple and Google Play remove three dating apps after FTC warning about underage users

The Federal Trade Commission said today that Google and Apple have removed three dating apps from their app stores because they could potentially be used by sexual predators to find children. In a parental advisory, FTC attorney Lisa Weintraub Schifferle wrote that FastMeet, Meet24 and Meet4U, all made by Ukrainian company Wildec, appeared to violate the Children’s Online Privacy Protection Act (COPPA) and the FTC Act.

In a letter sent to Wildec at the beginning of May, the FTC said the apps did not prevent users who say they are under 13 from using the apps or being visible to other users. While testing Meet24’s search function, FTC staff were able to find users near their location who said they were as young as 12 years old.

COPPA requires app developers to obtain verifiable consent from parents before asking children under 13 for personal information. The FTC told Wildec that its failure to do so appears to violate COPPA because the company “appear[s] to have actual knowledge that children are using your apps.” The agency also said it will review the apps again during the next month to see if they comply with the law.

Even on apps with safety measures, child exploitation is still a serious issue. For example, earlier this year the UK government began looking into legislation to require age verification checks for dating app users after a Sunday Times report found more than 30 cases of child rape linked to apps like Tinder and Grindr since 2015.

TechCrunch has emailed Wildec for comment.


Source: TechCrunch

Apple Watch may be getting more independent at WWDC

Apple may be preparing some tweaks to watchOS that will leave you fumbling for your phone less often.

Bloomberg’s Mark Gurman just published a long list of software tweaks his sources say are coming to iOS, watchOS and macOS at WWDC. One of the most interesting takeaways from the report is that Apple is reportedly planning to remove one of the final Watch/iPhone dependencies and will be bolstering up some of its stock apps.

Apple may be adding a watchOS version of the App Store to the wrist computer, allowing users to add third-party capabilities to the Watch without having to delve into the Watch app on their iPhones.

Additionally, Bloomberg reports that watchOS will be getting version of some iOS stock apps that weren’t previously available, including the Calculator app, Voice Memos, Apple Books (for audiobooks) and functionality to send Animoji/Memoji stickers. The company will reportedly also be adding a pair of health apps, one called “Dose,” that helps users keep track of taking pills and “Cycles” an app to track menstrual cycles.

WWDC begins June 3, TechCrunch will be there to provide you with all of the updates to Apple’s software ecosystem.


Source: TechCrunch

iOS reportedly getting its very own swipe-to-type keyboard

Apple may be bringing an Android favorite to iOS at its software developers conference next month. Bloomberg’s Mark Gurman has published a big list of little software tweaks his sources say are coming to iOS at WWDC.

One of the more interesting notes is that Apple is reportedly going to be releasing its own swipe-to-text keyboard on iOS, something that has long been natively supported in Android. Users would no longer have to tap away on their keyboards in order to text and would be able to use the first-party keyboard to type just by dragging their finger between letters to form words.

Users desperate for the functionality on iOS haven’t had to look far as it’s been supported by adding a third-party keyboard through the App Store and enabling it in settings. We’ll see if Apple has anything new to bring to the keyboard’s mechanics.

WWDC begins June 3.


Source: TechCrunch

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