Reddit Users Are Least Valuable As Compared To Other Social Media Platforms

Any company’s value is determined by the quality of its services and purchasing power of its customers. Reddit which is one of the oldest and biggest forums on the Internet has recently raised a series D round of funding from some big companies. Investing firms who have invested in reddit thinks forums user base is not that much of value as compared to other social media platforms like Facebook, Instagram etc. Reddit recently raised more than 300 million dollars of funding and out of these $150 million comes from Chinese tech company Tencent with a valuation of more than $3 billion. If we look into the company’s annual reports then reddit managed to earn on an average $100 million of revenues and its total monthly active user (MAU) is 300 million.

In other words, reddit earns on an average $0.3 per user. Reddit is that company who refused to reveal its annual revenue per user (ARPU) and experts thinks that it might be even much lower than its MAU. Twitter on the other hand recently said that it has managed to earn 3.04 billion in 2018 and it has more than 321 monthly active users. In other words, Twitter’s ARPU is about $9.48 which is a right amount of revenue.

Facebook is that social media platform which has 2.32 billion MAU, and it earns a tremendous amount of income from its users on an annual basis. Now Reddit has valued at a much lower level than any other social media companies, and there are various reasons behind it. Experts think Reddit is still troubling to find a good revenue model. The company doesn’t have an appropriate amount of data about its users base, and that’s why investors are sceptical about its earnings.

Amazon’s Stocks Prices Went Up After Company Released Its Q4 Reports

Many Big companies have performed poorly in last quarter of 2018; however Amazon Inc. has beaten everyone’s expectations since it managed to earn a right amount of profit for last quarter of 2018. On Thursday Amazon released its earnings reports which stated that it managed to generate 72.38 billion dollars of revenue which is 20% more than what company earned in last year. Amazon also did not disappoint its investors since it managed to give an EPS of $6.04 to its equity shareholders. Before releasing its quarters earning many analysts predicted that company might make a revenue of $71.89 billion and an EPS of $5.65. However, it seems like company has given its response by outperforming analysts expectations. CFO of Amazon Inc. said that they’re expecting $56-60 billion of revenue in first quarter of 2019 and after that news prices of Amazon’s stocks went up since many investors now have got their faith restored in this giant ecommerce company.

Amazon’s CFO Brian Olsavsky said company is performing pretty Much well than what they expected and soon in 2019 growth rate of e-commerce giant will skyrocket. It seems like investor of Amazon was waiting for company’s official statement regarding future growth and estimated sales. Amazon had gone through many controversies in last year also the latest one is Jeff Bezos’s divorce. But still, company is trying to manage its operations successfully as compared to other tech giant companies which are taking hit because of US-China trade disputes.

Amazon performed well domestically since it managed to earn $44.12 billion from North America only. Company’s overseas revenues also increased by 15% which shows that tech ecommerce tech giant is getting popular in other countries too.

Hulu to reduce costs of their basic plans as Netflix gets costly

Hulu will drop its prices in February from $7.99 per month to $5.99. Hulu is positioning itself for at least one year of fiercer competition. The service of Hulu, that involves -demand streaming and its ad-supported service, will be cheaper now. But, it will be increasing the costs from $39.99 per month to $44.99 for its live TV cable replacement services.

The changes in the prices will come into effect on February 26 for new customers, but for the current customers, it will begin with the billing cycle that follows after February 26. Now, millions of customers will have to pay a higher amount for Netflix. Netflix is Hulu’s main competitor and it raised its prices by one or two dollars of all its plans.

Hulu and Netflix are quite differently structured from each other. The primary focus of Netflix is to create original content only made for the online platform, though, it licenses a few shows from other providers as well. On the other hand, Hulu is co-owned by many broadcast TV networks. It primarily focuses on distributing those networks’ shows and also, other content that comes from Hollywood sources as well in the online market. Yet, Hulu has its own original series as well.

Some surveys were conducted to know what customers think. It seems that a few consumers will drop Netflix because of the price hike. This really doesn’t sound good for Netflix because it is already providing very high-quality series and movies at low prices. Netflix has long-term goals of expensive licensing fees for third-party programming.

Hulu may get many other competitors in the future because Apple and Disney are planning to launch streaming services. Apple thinks of providing high-quality services beyond Apple hardware. Apple has been making various content deals with some talented profiles in the industry which is an aggressive move for launching a new service for Apple Music. Efforts of Disney will also be similarly ambitious. So, Hulu has good competition.

Hedge-Fund-Backed Media Company wants to Buy Gannett

A media company led by a hedge fund is making a bid to take over USA Today parent Gannett that is one of the largest newspaper companies in the U.S. MNG Enterprises also known as Digital First Media announced on Monday that it has proposed to purchase Gannett for $12 a share in cash, which would be a 23% premium above Friday’s closing price of $9.75 a share. Hedge fund Alden Global Capital owns digital First Media.

Gannett Co. owns USA Today and 109 other local media properties like the Arizona Republic and the Detroit Free Press. While on the other hand, Digital First operates daily and weekly publications that include the Denver Post, the Los Angeles Daily News, and the Boston Herald. Gannett has lost more than 40 percent of its value over the last two years, so this drop makes MNG acquire it, said MNG. However, shares rose 14 percent in early trading Monday to $11. According to the WSJ’s sources, MNG has built a 7.5% position in Gannett’s stock and plans to urge the McLean to put itself up for sale publicly. Well, if this happens then, the history suggests that it would be dire news for the industry in general. Digital First Media already owns 56 newspapers.

Digital First doesn’t have a good reputation among journalists. Wall Street Journal media and tech writer Keach Hagey reacted on this news through twitter saying after watching what Gannett has done to her hometown paper – cutting most of the staff, outsourcing printing so far away local sports scores can’t appear the next day, she is fascinated to know what fat Digital First think is left. One editorial went as far as to call MNG vulture capitalists.

Tesla Has Cut the Price of All Vehicles in the US, Shares Dropped

If you were planning to purchase a Tesla vehicle sometime sooner, you should not hurry. According to the latest reports, Tesla has reduced the price of all vehicles in the United States market. While this may sound cooler for the consumer community, investors of the company were taken aback and the share value dropped 7% in total. Several questions are being asked about this move.

Analysts, for instance, are worried whether such a move means the decreased demand for Tesla vehicles in the market. For years, decreasing the price has been a method to battle lower demand. It should be noted that the company has reduced $2000 from all the Tesla models. Compared to the actual price these models were selling, the price-cut is quite evident. Analysts have different opinions on the move for sure.

One contention is that the company has reduced the price because it was not able to fulfill the proper delivery of Tesla Model 3. Also, the lowering of the green tax credits would have compelled the automaker to take a decision like this. The ultimate question is whether these moves would be affecting the overall profitability of Tesla, which has not published the annual profit so far.

Tesla, as a company, has not been the most profitable one in the country. During its 15-year existence in the market, only three quarters were found profitable for the firm. Last year, Elon Musk had managed to keep the company profitable in the third quarter, even though Tesla was at loss for the first nine months. Musk is still confident that the company would make it to the top.

Tesla has also managed to upset many customers in the period. First of all, the company has not been really punctual when it comes to delivering the products. This trend of varying deadlines has built a bad reputation for Tesla products in general.

The New Fish Market of Tokyo Sells Tuna for a Record 3 Million Dollar

On Saturday, the owner of a sushi restaurant chain in Japan set a record by paying in excess of $3 million for a Bluefin tuna in the first auction of the year at the fish market of Tokyo. It has exceeded his own record price of 2013. The Sushizanmai chain is owned by Kiyoshi Kimura. He paid up an amount of 333.6 million yen for the fish of 278 kg, which was caught off the coast of northern Japan’s Aomori prefecture. This was double of what he had paid six years back. The owner, Kimura told the reporters later on, who were waiting outside the market that the tuna looked tasty and extremely fresh. Still, he thought that paying up the amount was too much from his end.

In reality, Kiyoshi Kimura had expected the price to be somewhere between 30 and 50 million yen. At the maximum, he thought that the price would go up to 60 million yen but the price ended up being more than five times the expected amount. The event on Saturday was the first ever auction of this New Year at the Toyosu market. This is after the fish market of Tsukiji was shut down last year in order to provide temporary parking space for the 2020 Summer

Olympics in Tokyo. The owner of the sushi restaurant, Kiyoshi Kimura had managed to hold the record for having paid the top price for one single fish at the auction of New Year for six consecutive years until the year 2017. Still, the previous year saw the owner of another fish restaurant chain paying the highest price.

Once the auction was over, they had taken the fish to one of the branches of Sushizanmai, which is located in the old market region of Tsukiji. Tuna is given the prize for its use in sushi all around the world. Still, the experts warn that the growth in demand has made this an endangered species.

Bill Gates’ Nuclear Energy Company Faces Complications Due to U.S. Restrictions On China Deals

TerraPower LLC, the nuclear energy company founded by Microsoft’s Bill Gates, is seeking for a new partner nation. The company aims to have a partner to gain assistance in early-stage trials and test its reactor technology. The move comes after new U.S. rules imposed the company to leave an agreement with China. The nuclear energy company signed an agreement with state-owned China National Nuclear Corp in 2017. Under the partnership, the companies aimed to construct an experimental nuclear reactor in the south of Beijing. The company had been working on the project for more than three years. But Gates stated that TerraPower is unable to follow its plans due to new restrictions of U.S. government regarding deals with China.

Thus, the company’s existing deal with a Chinese company has been canceled by the newly imposed rules by the U.S. Department of Energy. Additionally, the new rules are preventing the most nuclear business deals with China. While Gates says US laws are confining it to deal with China, so the company is seeking for a third country. TerraPower CEO Chris Levesque told the Wall Street Journal that the company is regrouping. He also said that they may find another partner for the nuclear project.

However, the new Energy Department rules do not ban all nuclear deals with China. Besides, they require an assurance that the technology will not be used for illegal purposes. Company officials of The Bellevue told the Wall Street Journal that the company doesn’t have any testing site now. They are looking for a country where they could conduct trials of its technology. The Bellevue has developed a technology to use depleted uranium as fuel for nuclear reactors in order to improve security and costs. Currently, there are very few countries that are eligible to associate in a billion-dollar project. Gates intends to pressurize for changes to US regulations that will enable him to develop the reactor in the country.

Cyber Attack Strikes Printing and Distribution of Major U.S. Newspapers

On Saturday, major newspapers experienced printing and distribution problem due to cyber attack. Chicago Tribune, the Los Angeles Times, the Baltimore Sun and the San Diego Union-Tribune are the newspaper editions affected due to a computer virus. The cyber attack took place at the Tribune Publishing Company’s computer systems. The Los Angeles Times, which runs the facility, says the bug affected systems that affected the printing process. The publishing company failed to include paid death notices and classified ads in Saturday’s edition. The company announced it would deliver a slimmed-down version of the newspaper on Sunday.

The cyber attack started on Thursday late night. As a result, distribution of the Saturday’s edition delayed. It primarily affected newspaper companies that function on a shared production platform. According to Jeff Light, the editor, and publisher of the San Diego Union-Tribune, the attack continued from Thursday to Friday. Joe Rubidoux, Director of Distribution, said they would deliver Saturday’s paper with Sunday’s edition. Hillary Manning, LAT spokeswoman says the facility has been working to solve the problem. But she also added that Sunday’s version might have some impact of the cyber attack. Currently, the technology team has made considerable progress in fixing the problem. They were not able to solve it entirely before printing session.

Marisa Kollias, Tribune Publishing spokeswoman, stated that the issue has an effect on timelines and printed version of the news. Although, the virus has not affected their websites and mobile apps. On Friday the Chicago Tribune informed FBI regarding the cyber attack. According to Marisa, the anti-virus system discovered malware in the company’s back-office system. Besides, the computer virus affected the software used to publish and produce news editions. Other news companies like The New York Times and the Wall Street Journal had an impact on distribution. As those companies also use the same printing presses. The companies like The New York Times and the Wall Street Journal also affected distribution. Marisa said there are no evidence customers’ credentials and other data had been impacted.

Prosecutors Claim That a Saudi Businessman Helped Carlos Ghosn in Misconduct

Tokyo’s prosecutors brought new crime report against Carlos Ghosn ex-chairman of Nissan. Currently, the lawyers claim that Mr. Carlos used the company’s funds to pay a Saudi businessperson. Additionally, the Saudi entrepreneur would have assisted him out of financial difficulties. Mr. Carlos arrested for a third time on Friday. At that time, he was claimed to breach of trust and underreporting his salary. He also has a claim to transfer personal investment losses to Nissan, the carmaker. Although, the statement from prosecutors stated that around October 2008, Mr. Carlos was trying to do a settlement with the losses. The on-paper loss suffered on a swap contract with an anonymous bank cost $16.6 million.

However, a person helped Ghosn to organize a letter of credit at that time. After that, a company under the management of the person obtained $14.7 million in Nissan’s funds. According to the records, the payment was paid in four installments between the period of 3 years, i.e., 2009-2012. The persecutors’ statement said that the installments were made in the favor of Mr. Carlos and the person. This behavior of Mr. Carlos indicates that he disobeyed the company’s rules and trust. Additionally, his move imposed damage on the assets of Nissan.

According to some sources in the company, the person who helped Mr. Carlos in misconduct is a Saudi businessman. He is Khaled Al-Juffali, vice chairman of one of Saudi Arabia’s largest conglomerates, E. A. Juffali and Brothers. In addition to this, Khaled is a board member of the Saudi Arabian Monetary Authority. He also owns significant shares of Al-Dahana. It is a company with a joint venture of Nissan Gulf and Nissan Motor. Now, the release of Mr. Carlos seems very difficult. On the other hand, another person accused helping Mr. Carlos released on bail. You are right, Greg Kelly, got a belated Christmas gift. But, immediately after the bail, he went to the local hospital for treatment of chronic neck problem.

Delta Airlines Flight Landed On Island Due to Potential Engine Problem

A Delta flight traveling towards Seattle landed on a small Alaskan island on Monday. Thus the Delta Air Lines passengers got quite panic after the emergency landing.  Before the dock pilots were alerted to a potential engine issue. The happening left almost 200 passengers isolated for more than 12 hours. The travelers made an unplanned stop at Shemya, Alaska. Drake Castaneda, the Delta representative, said the company regrets the delay to its customers. He also said that the flight 128 headed from Beijing to Seattle landed due to a problem in the engine. Drake said the company first prefers the safety of their passengers and crew members.

However, Delta Airlines dispatched another plane to continue the flight to Seattle. Fortunately, no injuries took place during the emergency landing. A team of new crew members and some technicians and customer service executives went there with the new airplane. One of the passengers Twitted that he is still alive. In addition to this, the passenger also stated that they have lost one engine. The post unrolled the fact of landing on a US air force base in Alaska island, in the middle of the ocean.

On the other hand, Savannah Huddleston, Delta spokeswomen, said the carrier sent another aircraft to pick-up the passengers. According to Delta, on Monday the plane landed at 10 p.m. at Seattle-Tacoma International Airport. Huddleston did not have any other information about the engine problem. But on another day, a Delta representative said engineers were looking for the problem in the plane. According to the information from FlightAware, a flight-tracking website, the aircraft was Boeing 767-300ER. Moreover, Eareckson Air Station operates as a refueling center for the air force, and an emergency landing site for civilian flight. But Shemya Island is 1,450 miles away from Anchorage, Alaska’s largest city. Zhen Tian, a graduate from the University of Washington, said her parents were boarded on the flight. Also, it was her mother’s first international flight.