Virgin´s Galactic is becoming a listed company – WSJ

Virgin Galactic, which offers human spaceflights to public, is planning to be listed to fund the growth. According to Wall Street Journal, the Social Capital Hedesophia  Holdings is planning to invest about 800 million dollars in Virgin Galactic for a 49 % stake. This would also mean that the Virgin Galactic would become publicly listed later this year.

The space travelling is become more common while Amazon´s owner Jeff Bezoz´s Blue Origin and Elon Musk´s Space Exploration Technologies (Space X) are also in the same markets.

According to WSJ, the Virgin Galactic has already raised more than 1 billion dollars since it was founded in 2004.

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WeWork to raise billions ahead of IPO-WSJ

The US workspace company WeWork is going to raise billions of dollars in debt before it goes public, writes the Wall Street Journal tonight. According to WSJ, WeWork would raise as much as 3 billion to 4 billion dollars in the coming months, citing people familiar with the matter.

The debt offering could grow as big as 10 billion dollars over the next several years, the WSJ writes. The meaning of this offering is to fund the company’s growth until its business is profitable, the people said.

One reason for this debt offering is also the other big IPOs during the spring time, Uber (UBER)  and Lyft (LYFT), which are trading below their IPO pricing at the moment.

According to the news, Goldman Sachs Group and JP Morgan Chase & Co are leading the structuring and backing the deal.

WeWork, based in New York, made a 1,9 billion dollars loss last year with a 1,8 billion dollars revenue. The company has been valued at 47 billion dollars this year in the earlier funding rounds.

WeWork filed the IPO at the end of last year and the initial offering is expected to be during this year.

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Apple´s chief design officer to form own company – Bloomberg (updated)

According to Bloomberg News, Jony Ive, Apple’s chief design officer, will depart the company later this year to form an independent design company. According to the news, he will continue to have Apple among its primary clients.

– Apple will continue to benefit from Jony’s talents by working directly with him on exclusive projects, and through the ongoing work of the brilliant and passionate design team he has built. After so many years working closely together, I’m happy that our relationship continues to evolve and I look forward to working with Jony long into the future, the CEO Tim Cook said in the press release.

According to Apple, the design team will in the future include for example Evan Hankey and Alan Dye to report to Apple´s chief operating officer.

-Design team leaders Evans Hankey, vice president of Industrial Design, and Alan Dye, vice president of Human Interface Design, will report to Jeff Williams, Apple’s chief operating officer. Both Dye and Hankey have played key leadership roles on Apple’s design team for many years. Williams has led the development of Apple Watch since its inception and will spend more of his time working with the design team in their studio.

Apple (AAPL) shares were trading on Thursday down 0,03 % to 199,70 dollars, market cap 919 billion dollars.

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Yandex Taxi to issue new shares in IPO – Reuters

Russia´s largest online taxi service Yandex Taxi is likely to sell new shares in its initial public offering. According to Reuters the company representative COO Greg Abovsky told that the company has not decided on a stock exchange, or the timing or the size of its IPO.

-We consider the Moscow Exchange an important exchange, he told Reuters and added that most likely there would be primary shares, not secondary in the IPO.

Yandex Taxi and Uber combined their resources in Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakstan in 2017. Uber has 36,6 % of the shares, Yandex 59,3 % and Yandex Taxi staff the rest.

The US ride-hailing company Uber´s (UBER)  IPO was in May and the company listed its shares on Nyse in New York with the market value of 82 billion dollars. The rival company Lyft  (LYFT) listed its shares in Nasdaq already in April with the market value of 24,3 billion dollars.

Uber has also expanded its service offerings from taxi to flying taxi service in New York and customers can now ride from Manhattan to JF Kennedy and Newark airports with 199 dollars. The company has also announced it will start electric-flying taxi service in Australia, Melbourne next year, while the other piloting cities are Dallas and Los Angeles in the US.

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Airbnb to offer luxury property rentals

The US property rental service & hospitality platform Airbnb said today that it has launched a luxury property service for its customers.

This new service “Airbnb Luxe” offers 2000 new listings from entire islands to castles and mansions and the prices range from 14000 dollars a week average to 1 million dollars a week for a private atoll near Tahiti with a staff of 50.

This new rental service include also VIP service. – From personal chefs to massage therapists, a local team of professionals has you covered, the company says.

According to the company the luxury rental property market has not offered security for high-profile and mega-rich clients before, Bloomberg News says.  This new service will include the total wellbeing.

The company takes a percentage of the cost of each booking and the company is valued at 31 billion dollars before the initial public offering, perhaps next year.

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Volvo and Uber to present the self-driving car

Volvo Cars (VOLVB), a leader in automotive safety, and Uber (UBER), the leading ride-hailing firm, have presented a jointly developed production car capable of driving by itself. This is the next step in the strategic collaboration between the companies.

– Uber and Volvo Cars entered a joint engineering agreement in 2016 and have since developed several prototypes aimed at accelerating the companies’ self-driving car development. The Volvo XC90 SUV is the first production car that in combination with Uber’s self-driving system is capable of fully driving itself, the Volvo says in the press release.

According to Volvo, the most important features of Volvo Cars’ autonomous drive-ready production vehicle include several back-up systems for both steering and braking functions as well as battery back-up power.

-By the middle of the next decade we expect one-third of all cars we sell to be fully autonomous. Our agreement with Uber underlines our ambition to be the supplier of choice to the world’s leading ride-hailing companies, the Volvo Cars CEO Håkan Samuelsson stated.

 

 

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Facebook to launch Libra digital money

The social media giant Facebook (FB) is to launch digital coin Libra. This blockchain cryptocurrency is targeted to be used in Facebook apps. According to markets this new currency may have risk factors for financial stability and antitrust, while Facebook company is still having the privacy concerns.

According to Financial Times, this new coin is backed with different business operators like Visa, Uber, Vodafone and Spotify.

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