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Amid anti-trust lawsuits Facebook makes a billion dollar acquisition – Top Trending News

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Amid anti-trust lawsuits Facebook makes a billion-dollar acquisition

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Facebook is currently facing heat from regulators for its monopolistic practices. But this hasn’t stopped the social media giant from making yet another billion-dollar acquisition. Facebook on Monday announced that it is all set to acquire a customer relationship management startup Kustomer for a whopping $1 Bn. This new acquisition will help the social media giant to spread its wing deep into the e-commerce field. The deal is obviously subjected to regulatory approval and this approval will have to come amid dozens of anti-trust lawsuits challenging the domination of big tech companies.


Italian Watchdog Penalizes Apple for $15 Mn euros for Exaggerated Claims

Italy’s competition authority has penalized Apple for $15 Mn euros or $12 Mn for making exaggerated claims about the waterproofing of its iPhones. These exaggerated claims and misleading ads pertains to 2017’s iPhone 8 and iPhone 8 Plus. The Italian regulator was especially miffed over Apple’s disclaimer that water resistance isn’t covered under its warranty even though it blatantly marketed its phones as water resistance products. Italian competition watchdog had previously fined Apple for battery throttling.


SalesForce deal to acquire Slack can be announced anytime soon

If sources cited by CNBC are to be believed then Salesforce can make a formal announcement about Slack acquisition anytime soon. In all probability, the announcement can be made after the market gets closed on Tuesday. Interestingly, on this particular day Salesforce is also expected to announce its quarterly earnings. Sources further claim that this high profile deal is expected to be part cash and part stock.


Zoom’s revenue grows by 4X to clock a revenue of $777 Mn in third quarter          

Zoom has once again managed to quadrupled its revenue for second straight quarter on year-on-year basis. The video & web conferencing giant reported $777 Mn revenue in the third quarter of the current financial year. This is a growth of almost 4x as compared to same quarter last year. The good news doesn’t just end here as the company is expected to quadruple its revenue even during the fourth quarter.


Google-owned DeepMind claims to have solved the protein fixing problem

London based machine learning company DeepMind, which was owned by Google in 2014, is already known for its AI capabilities. Now this company has added another feather in its cap, after having announced that it has made a vital breakthrough of predicting the shape of protein to within the width of an atom. If this claim has any truth then DeepMind has probably solved a problem that has baffled scientists for nearly 50 years now. Above all, this path breaking discovery can help scientists in making drugs and medicines with greater efficiency.

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