Snapchat parent company Snap Inc. has confidentially filed for its IPO, according to sources familiar with the matter. The four-year old messaging app could go public as early as March 2017, in what is expected to be one of the highest-profile stock debuts in years, and one that could potentially convince other tech startups to test public markets. The Venice, California-based company is looking to raise as much as $4 billion, with a valuation in the $25 billion range, which could make it the largest U.S.-listed tech offering since Chinese e-commerce giant Alibaba went public in 2014. Continue reading High Profile Snap IPO Could Push Other Startups to Go Public

HTC Vive is now wireless, with an add-on tetherless upgrade from TPCAST, a startup with HTC’s VR accelerator, Vive X. The wireless kit was for sale on Vive’s Chinese website, and quickly sold out; Vive did not reveal how many units were for sale. Priority was given to potential buyers with a valid Vive serial number. Priced at 1,499 RMB (~$220) plus shipping, the wireless add-on will begin to ship in the first quarter of 2017 to those who pre-ordered. Other companies are said to be working on wireless upgrades to Vive. Continue reading HTC Vive Now Wireless with Add-On Upgrade From TPCAST

A visitor to New York City’s Westfield World Trade Center Mall will have the opportunity to view a variety of virtual reality films for free. The Mall, in partnership with Tribeca Enterprises, launched a free pop-up virtual reality arcade, offering eight viewing stations with several short immersive films. Virtual reality has failed to catch on in numerous iterations over the last 60 years, and some experts now say that the virtual reality arcade, gaining in popularity in different parts of the world, may save today’s VR from that same fate. Continue reading Arcades Introduce Virtual Reality Entertainment to Consumers

China has adopted a broad and controversial cybersecurity law that places new requirements on tech companies, which foreign businesses fear may be used to negatively affect competition. The law, designed to tighten state control over technology and information while ramping up online security, addresses areas such as data storage, technical support, censorship and government certification of hardware. According to The Wall Street Journal, “The law drew criticism from foreign business groups due to the expansive list of sectors that are defined as part of China’s ‘critical information infrastructure,’ making sectors including telecommunications, energy, transportation, information services and finance subject to security checks.” Continue reading Global Tech Firms Wary of China’s Broad Cybersecurity Law

China’s Ant Financial Services Group, an affiliate of Alibaba Group Holdings, is building a global network of merchants that accept its payment services via the Alipay mobile payments app. Ant Financial just announced a partnership with the online-payments arm of Thai conglomerate Charoen Pokphand Group, meaning that Chinese tourists can use their familiar payment app there. Alibaba has also launched its new Digital Media and Entertainment Group as the company continues its push into movies, online video, music, gaming and more. Continue reading Alibaba Expands Alipay, Creates Media Entertainment Group

Despite shifts in music consumption involving streaming services, Internet radio, digital downloads and more, many consumers are still purchasing CDs. However, the revenue does not always reach the artists and labels responsible for the music, since piracy is running rampant in the form of counterfeit CDs offered through online retailers such as Amazon. Counterfeits are becoming increasingly difficult to distinguish from the official versions. While CD sales represented a mere 13 percent of revenue for U.S. labels the first half of this year, they accounted for almost 40 percent of global revenue for the recording industry last year. Continue reading Music Industry Contends with Major Uptick in Counterfeit CDs

On the heels of NBA Digital’s announcement that it would stream one live game optimized for VR per week, on Tuesday, the NBA will introduce another feature: “Mobile View,” which offers a tighter zoom on the action for better viewing on phones and tablets. Games will be shot with different cameras to enable Mobile View, which will be available to subscribers of NBA League Pass, Team Pass, and even those who stream single games. Mobile View will be in preview for a week during League Pass’ trial period. Continue reading For NBA Digital, the Television Set is Now the Second Screen

Razer, which develops hardware and services for the gaming world, announced this week that it is acquiring THX from Creative Labs, with plans to run the iconic audio company (founded by filmmaker George Lucas in 1983) as an independent subsidiary with a focus on overseas expansion and new device areas such as VR headsets. THX is expected to continue operating under current management, led by CEO Ty Ahmad-Taylor. Razer, run by CEO Min-Liang Tan and valued at $1.5 billion, also acquired gaming startup Ouya last year. Financial terms of the THX deal have not been disclosed. Continue reading Razer Purchases THX with Plans for VR and Global Expansion

Facing stiff regulatory hurdles, Netflix has decided to shift gears regarding its plans for expansion into China. Rather than launching its own streaming subscription service as originally planned, the company will instead focus on licensing content to Chinese online service providers for now. “We still have a long-term desire to serve the Chinese people directly, and hope to launch our service in China eventually,” the company said while announcing its impressive Q3 earnings and subscriber jump. Netflix added more than 130 countries to its global presence this year, but a move into China would involve a “challenging” regulatory environment. Continue reading Netflix Adjusts China Plans, Pursues Licensing Deals for Now

Japan’s SoftBank Group, led by chief exec Masayoshi Son, is partnering with a Saudi sovereign-wealth fund to establish a multibillion-dollar tech investment fund. SoftBank is an ambitious tech investor, as evidenced by its recent deals with China’s Alibaba Group, mobile carrier Sprint and chip designer ARM Holdings. Today, the company “plans to invest at least $25 billion over the next five years through a fund dubbed the SoftBank Vision Fund,” reports The Wall Street Journal. “Saudi Arabia’s Public Investment Fund may contribute an additional $45 billion over the next five years as the fund’s lead partner.” SoftBank is in talks with additional global investors, who could “push the new fund up to $100 billion to become the world’s ‘biggest investor’ in technology over the next decade.” Continue reading SoftBank Signals Major Ambitions with $100 Billion Tech Fund

The California Department of Motor Vehicles issued permits to French auto company Valeo North America and the privately held Wheego Electric Cars to test a single autonomous vehicle with up to four operators on public roads. Another company receiving a permit was Cruise Automation, which was then acquired by General Motors for $1 billion. So far, Alphabet’s Google has driven 2 million miles in autonomous vehicles on public roads. Permits are a marker of which companies are moving forward in the new field. Continue reading Valeo, Wheego to Test Autonomous Cars on California Roads

Steven Spielberg’s Amblin Entertainment just inked a deal with Chinese e-commerce company Alibaba Group to produce, finance and distribute movies. The relationship gives Alibaba an entrée into the Hollywood moviemaking industry, and Amblin a pipeline to distribution in China. Although the financial details of the deal were not disclosed, Alibaba will now have a minority equity stake in Amblin and a seat on its board, and Amblin will have access to the Chinese company’s massive database on consumers there. Continue reading Amblin and Alibaba Ink Mutually Beneficial Moviemaking Deal

Snap Inc., the newly named parent company of messaging service Snapchat, is readying an initial public offering that could value the company at more than $25 billion. Snap is reportedly prepping “for an IPO with a view toward selling the shares as early as late March,” explains The Wall Street Journal. “There is no guarantee the four-year-old Venice, California, company will proceed with a share sale in that time frame, and there is no guarantee it will achieve a valuation of $25 billion or more.” However, if the company does reach that value, “it would be the biggest company to go public on a U.S. exchange since 2014″ when China’s Alibaba Group Holding made its debut. Continue reading Snapchat Parent Preparing IPO, Valuation Could Exceed $25B

YouTube has spent more than a year creating YouTube Go, a site that has been customized to accommodate the limitations and needs of millions of new users from Brazil, China, India and Indonesia. These new users, online for the first time, bring different devices, connectivity and ideas about what the Internet is to them. YouTube has sent designers, engineers and researchers to those countries to plan a strategy. The challenges are balanced by the chance to engage more than one billion people of every socioeconomic level. Continue reading YouTube Go Maximized for New Users of Brazil, China, India

Chinese CE company Xiaomi introduced its first product geared for U.S. customers yesterday — the $69 streaming Mi Box, an Android TV STB that supports 4K video playback, HDR, and includes a Bluetooth voice remote. The company first unveiled the Mi Box at this year’s Google I/O developer conference. Since it’s based on Google’s Android TV, the device provides access to apps for Hulu, HBO Now, Netflix, Sling TV, YouTube and others. It also supports Google Cast for launching playback from mobile apps and makes recommendations based on a user’s YouTube and Google Play preferences. Continue reading Mi Box: Xiaomi Now Selling its New $69 Android TV Streamer