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technology1 year ago

"Nothing Phone 2a: Setting a New Budget Standard"

London-based tech company Nothing has achieved a record-breaking 100,000 sales on the first day of its latest release, the Nothing Phone (2a), positioning itself as a serious challenger to the iPhone. The phone, featuring two 50-megapixel cameras, a 6.7-inch OLED display, and a budget-friendly price starting at £319 in the U.K., has garnered significant attention and support from its community, with fans lining up around the block for its release. CEO Carl Pei expressed gratitude to the community, partners, and team for their support, while the company aims to sustain its early success in the competitive smartphone market.

via Forbes|
#iphone-challenger#nothing-phone-2a#record-breaking-sales
business2 years ago

Instacart Sets IPO Price at $30, Valuing Company at $10 Billion

Instacart, the popular grocery-delivery company, has priced its IPO at $30 per share, valuing the company at approximately $10 billion. This makes Instacart the first notable venture-backed tech company to go public in the US since December 2021. The offering, which came in at the top end of the expected range, includes 22 million shares, with 14.1 million from the company and 7.9 million from existing shareholders. Instacart's IPO performance, along with the upcoming debut of cloud software vendor Klaviyo, could determine the willingness of other billion-dollar-plus companies to test the public market. Despite sacrificing growth for profitability, Instacart has shown that its business model can generate earnings, reporting $114 million in net income in the latest quarter.

via CNBC|
#business#grocery-delivery#instacart
business2 years ago

Tesla's DOJO Technology Set to Skyrocket Company's Value to $500 Billion: Report

Morgan Stanley predicts that Tesla's supercomputer, Dojo, could increase the automaker's enterprise value to $500 billion. The investment bank upgraded Tesla's rating to Overweight and raised its price target to $400 per share. Morgan Stanley believes that Tesla's progress with Dojo positions it as both an auto and tech company, with software and services potentially becoming its main source of revenue. Dojo's impact on industries such as autonomous robotaxis and Tesla Network Services could significantly contribute to Tesla's value. Elon Musk has hinted that Dojo could have applications beyond Tesla's Full Self-Driving system.

via TESLARATI|
#business#dojo#enterprise-value
business2 years ago

Chinese worker loses compensation for taking 'bed rest' on island resort.

A Chinese tech company fired an employee for taking sick leave and spending it on a tropical island, instead of recuperating at home. The employee had applied for two weeks of paid leave earlier but was rejected by his manager. The employee was fired after a co-worker spotted him at the Hainan airport. The company was ordered to pay compensation, but a higher court overturned the decision, ruling that the employee had gone against the doctor's advice of bed rest.

via Business Insider|
#business#china#court-ruling
business2 years ago

Chinese tech company fires employee for taking medical leave on tropical island.

A Chinese tech company located in Beijing fired an employee after he spent his two-week sick leave on a tropical island. The employee had applied for two weeks of paid leave earlier but was rejected by his manager. The employee was fired after a co-worker spotted him at the Hainan airport. The company appealed the ruling at a higher-level court, which overturned the decision, and the district court upheld its decision because it deemed Xu had gone against the doctor's advice of bed rest.

via Yahoo! Voices|
#business#china#labor-dispute
business2 years ago

Chinese tech employee fired for taking medical leave on tropical island instead of at home.

A Chinese tech company located in Beijing fired an employee after he spent his two-week sick leave on a tropical island. The employee had applied for two weeks of paid leave earlier but was rejected by his manager. The employee was fired after a co-worker spotted him at the Hainan airport. The company appealed the ruling at a higher-level court, which overturned the decision, and the district court upheld its decision because it deemed Xu had gone against the doctor's advice of bed rest.

via Yahoo News|
#business#china#labor-dispute