Fast Five from the Valley: Edition 51

 In Fast Five from the Valley

Smart Lock startup raises $70 million in Series B funding

Latch’s smart lock system, designed for apartment buildings allows residents to open doors using a smartphone, keycard or door code, and also provides a neat feature for residents to create temporary access codes for guests.

The startup recently announced that it has raised $70 million in Series B funding, led by Brookfield Ventures, which is the investment arm of Brookfield Asset Management. Included in the deal, Brookfield Properties will also be installing Latch systems in its multi-family properties.

Read more about it here.

Will Facebook soon lead the race for 5G?

Big carriers, such as T-Mobile, will be challenged by a new competitor when it comes to building 5G infrastructure. Together with the startup Elefante Group, Facebook announced to work on a new kind of airship to provide 5G connection… located 65,000 feet high in the sky. This high-altitude system promises a cost reduction by 80% when compared to common ground-based networks.

Read more about it here.

SodaStream jumps into business with an old enemy

The years of shaming the big players in the bottled water market for SodaStream are over. Just last year, the CEO of SodaStream, Daniel Birnbaum said “Shame on Pepsi Co”(and made a Game of Thrones related ad about it). Today, things look a bit different, with Pepsi Co buying out SodaStream for $3.2 billion. For a few years now, Pepsi has been trying to get a stronger foothold in the healthy and rapidly growing seltzer market, as sugary drinks sales plummet.

Read more about it here.

The long road to IPO

Uber hired a new CFO this week, Nelson Chai, who took over the position that has been vacant since 2015. He is a financial services expert with deep connections to banks and dealmakers; a quality that might come in handy for Uber’s planned IPO in 2019. If they miss the self-imposed deadline, a shareholder provision could spring into action and create chaos in the market as it would lift transfer restrictions on shares.

Read more about it here.

“Hacky Hack Hack”

Apple is not too happy after its secure computer systems were hacked into… by a private school teenager from Melbourne, Australia. Now facing criminal charges after the tech giant called in the FBI, the teen broke into Apple’s mainframe from his suburban home on numerous occasions over the course of a year. He was able to hide his udentity until a raid on his family home uncovered a treasure trove of hacking files and instructions, all saved in a folder called “hacky hack hack”.
Why did he do this? Because he was supposedly such a fan of the company and “dreamed of” working for Apple. Well, I guess that is certainly one way to gain the attention of an attractive employer… although I wouldn’t be so sure of your job prospects following this…

Read more about it here.

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