Friday, May 25th, 2018

Samsung is Ordered to Pay $539 Million in Damages to Apple
The New York Times

A jury decided on Thursday that Samsung must pay the amount because it infringed upon Apple patents.

Both companies have been in a long legal battle since 2011 after Apple sued Samsung for copying its products.

According to Reuters, Samsung did not state whether it planned to appeal the verdict.

Uber Invests in Paris
Company Blog Post

The company announced this week that it would launch an Advanced Technologies Center in Paris that would focus on building a network of all-electric, vertical takeoff and landing aircraft.

It will be the company’s first research and development hub outside of North America. The company currently operates advanced technology offices in Pittsburgh, Toronto, and San Francisco.

Over the next five years, the company will be investing €20 million into developing new technologies and capabilities at the Advanced Technologies Center in Paris.

The new office will open this Fall and will focus on capabilities across airspace management, autonomy, real-time communication networks, energy storage, and charging systems.

LVMH, Owner of Louis Vuitton and Other Luxury Brands, Reportedly Invests into a Luxury Fashion Search Engine
Business of Fashion
The Financial Times

According to the Financial Times, the investment will help Lyst expand internationally. Funds will also be used to grow its team in London and New York.

The Business of Fashion .com reports that the company is raising a total of $60 million where LVMH is contributing up to 45%.

The Financial Times reports that Lyst is profitable with growth rates at approximately 400% over the past 3 years.

The company provides its users with the ability to shop at over 11,000 designers and stores from its platform.

Visa Looks to Accelerate Mobile Payments in Latin America and the Caribbean
Company Press Release

According to a company press release, Visa announced on Thursday that it looks to accelerate digital payment technology in the region.

The investment is part of a global strategy to open up the Visa ecosystem and support a broad range of new partners who are helping to redefine and enhance the purchase experience for millions of consumers globally.

The investment will fuel tokenized payments, increased access to Visa APIs, and expansion of Visa Direct push payments.

Financial terms of the deal were not disclosed.

Iora Health Raises a New Round of Funding
Company Press Release

The healthcare provider is raising $100 million in Series E Financing.

According to a company press release, the new funds will drive its investment in its proprietary collaborative care technology platform, as well as, support continued growth.

The financing includes global investors including Khosla Ventures, GE Ventures, and Humana.

Music Video Platform, Vevo, Focuses on Youtube
Company Blog Post

The company stated on its website that it will be phasing out elements of its owned and operated platforms.

In order to reach its growth goals, the company plans to focus on Youtube and also explore working with additional platforms.

The company also stated that it plans to invest in original content including its flagship dscvr and LIFT emerging artist programs.

Vevo sees 25 billion views per month, with a total catalog of over 330 thousand pieces of content with the majority of it viewed on mobile devices. The company is headquartered in New York with offices in San Francisco, London, Los Angeles, Chicago, and Portland.

Twitter Looks to Increase Transparency for Political Ads
Company Blog Post

According to a company blog post, the social media platform is launching its Political Campaign Policy in the U.S.

Advertisers who want to run political campaign ads for Federal elections will need to self-identify and certify that they are located in the United States. The company will also not allow foreign nationals to target political ads to people who are identified as being in the U.S.

The new policy will be rolled out this summer.

The World’s Largest Pet Sitter and Dog Walker Company Just Raised $155 Million
Company Press Release

Rover announced on Thursday that the funds will be used to increase the share of the market for its on-demand walking service, enhance its core offerings and introduce new services.

It will also dedicate a substantial amount of the new financing for expanding its service offerings into Europe. The European market represents 25 percent of the $85 billion global pet care market.

The company currently employs more than 375 people in the United States with plans to increase its team by one-third by the end of the year.