Twitter Gives Green Light to Elon Musk's Buy Offer 🤝
Scott D. Clary | Daily Business, Tech & Finance Newsletter
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Twitter Gives Green Light to Elon Musk’s Buy Offer 🤝
Tesla CEO Elon Musk won a deal fair & square to acquire Twitter for $44 billion in cash on April 25.
It will shift control of the popular microblogging platform to the world’s richest person.
Reports suggest Twitter entered into a definitive agreement to be wholly owned by Elon Musk, for a price of $54.20 per share in cash, valuing the company at approximately $44 billion. After completion of the deal, the social media company will become a privately held company.
Musk has often criticized Twitter’s moderation and has reiterated that free speech is the key to Twitter’s future.
In his latest tweet, Musk wrote, “I want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”
The deal, which was unanimously approved by the board, will likely close this year following shareholder and regulatory approval and completion of other customary closing conditions.
Nreal is Launching Its Augmented Reality Glasses in The UK 🇬🇧 This Year
Nreal, a Chinese-based augmented reality start-up that develops ready-to-wear mixed reality glasses, is all set to launch its Nreal Air glasses in the UK later this year through an exclusive deal with local carrier EE, which is owned by telecoms group BT.
Nreal’s AR glasses let a user play games or watch movies on large virtual displays. For this, users need to connect the glasses to their smartphones through a cable.
These glasses are designed to look like normal sunglasses from the front but have an OLED display hidden behind the lenses.
The glasses work in two main modes. In the Air Casting mode, the phone’s display is mirrored to the glasses, which allows you to view your apps and content on a fixed virtual big screen that appears in front of you.
In the second, the MR Space blends the real and digital worlds and positions multiple virtual screens as large as 201 inches in 3D space.
While the company said the glasses will go on sale through EE later in the spring, it is yet to announce the launch date and pricing.
Meta to Open Its First Physical Metaverse Store 🛍 in San Francisco Bay Area
Meta will be opening its first physical metaverse-themed store in the San Francisco Bay Area, offering hardware for the virtual reality space.
In an announcement, Meta said, “Today, we’re announcing Meta Store — our first physical retail space, which will open May 9 on our campus in Burlingame, California. In the Meta Store, you’ll be able to get hands-on experience with all our hardware products.”
The physical metaverse will be located on the Meta campus, which is in Menlo Park. It will feature a wall-to-wall curved LED screen that displays what users see using Meta headsets.
The store is going to help people make a connection about how Meta’s products can be the gateway to Metaverse in the future.
“The Meta Store also features an interactive Quest 2 display wall, allowing you to explore the hardware, its accessories, and the breadth of content available today. Last but not least is our immersive Quest 2 demo area, where you can try Beat Saber, GOLF+, Real VR Fishing, or Supernatural on a large, wall-to-wall curved LED screen that displays what you’re seeing in-headset,” Meta added saying its announcement post.
Fintech Startup Zenda Raises $9.4 Million in Seed Round 💰
Zenda, a UAE-based school fees payment startup, has raised $9.4 million in its seed funding round from COTU Ventures, STV, Global Founders Capital, and VentureSouq.
Founded in 2021 by Raman Thiagarajan and Haseeb Ahmed, Zenda is a fintech app enabling families to pay school fees with pay-now and pay-later options.
It aims to make it easier for families to manage money and to enable their financial wellness through customized banking and financial experiences. Currently, the fintech operates out of India (Bengaluru, Kochi, and Delhi) and UAE (Dubai).
Using the app, parents can track dues and make payments through a multitude of pay-now and pay-later options, and unlock rewards for paying on time.
The startup integrates with schools through its proprietary data model and APIs and eliminates last-mile reconciliation challenges and delays.
Zenda is planning to use the fresh funds to increase its headcount, supercharge its product development, and roll out its services in more locations in India and the UAE.
In addition, the company may also look to expand its footprints in newer markets by the end of the year.
Around the Web 🌐
Microsoft to Add Teams to Its Online Store: Microsoft’s work communications app Microsoft Teams will finally be added to its own online store. The app will be reportedly available on the store sometime next month for both Windows 10 and 11.
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