 Image: Amazon Amazon announced that it will launch a physical clothing store called Amazon Style in Glendale, California, later this year. The store will sell men's and women's clothing, shoes, and accessories. The e-commerce giant plans to leverage technology to avoid some of the hassles customers face with in-person shopping. Customers will be able to use their smartphones to browse merchandise inventory and receive personalized recommendations. The company aims to marry its physical and digital shopping experience. More: - Amazon Style fitting rooms will have touchscreen displays that customers can use to request different items.
- In a statement, Style managing director Simoina Vasen noted the new retail store will offer items for all budgets and sell both basic items and some items from well-known brands.
- According to data from Wells Fargo, Amazon surpassed Walmart as the No.1 clothing retailer in the U.S. for the first time in March with over $41B in clothing and shoe sales.
- This is Amazon's first physical fashion store; however, the company also operates Whole Foods grocery stores, bookstores, its own brand of convenience stores, and Amazon Fresh grocery stores.
| |
The U.S. Senate Judiciary Committee has approved new antitrust legislation that would prevent big tech companies, like Apple, Amazon, Google’s Alphabet, and Facebook’s Meta, from favoring their own products and services. The bill, called the American Innovation and Choice Online Act, was approved in a 16-6 vote with bipartisan support. The legislation now moves to the Senate for a potential vote. More: - Supporters of the bill say it would benefit consumers by preventing big tech from abusing their market power, and it would encourage more competition.
- Those against the bill, including the tech companies the bill is intended for, worry that the bill only applies to a handful of big tech companies while excusing other companies that give preference to their platforms.
- Opponents also worry the bill would affect the functionality of certain platforms and put users’ personal data at risk.
- The bill makes it illegal for big tech companies to use another business’ nonpublic data to compete with the business.
- It also prevents platforms from favoring their own products in search results.
- The bill applies to companies with a market cap of $550B or more and with 50 million or more monthly active users.
- The FTC would get to decide which companies meet the criteria.
| |
 A message from LOHIKA Web3: Why It Matters and How to Think About It in 2022. You may have heard about “Web3,” along with related technologies like blockchain, NFTs and smart contracts. What exactly is Web3? Is it the evolution of Web 2.0? Is it the future of the Internet? We don’t know all the answers, so invited a panel of experts who do. We’re hosting an online event with Capgemini AIE “Web3: Why It Matters and How to Think About It in 2022.” The panel: We will also discuss: - How engineering leaders should approach recruiting for team building web3 applications
- Whether an NFT represents ownership of digital art or if there’s more to it
- What will happen between central banks asserting their control of fiat currencies and decentralized currencies erasing boundaries and national sovereignty
Join us on February 10, 2022 at 10am PT / 1pm ET. Register Here
| |
 Image: Netflix Netflix released its Q4 and full-year earnings on Thursday after market close, ending the year with 222 million paid memberships, 9% growth from a year earlier. The streaming platform reported Q4 revenue of $7.7B, a 16% increase YoY. Net income came in at $607M, or $1.33 per share, a 12% increase YoY. In 2021, Netflix series accounted for six out of the 10 most searched shows in the world. The company’s dystopian Korean thriller Squid Game generated over 1.65 billion hours viewed in its first month and became the platform’s most-watched series ever. More: - Netflix added 8.3 million net paid memberships in 4Q and 18 million for the full year.
- Full-year revenue came in at $29.7B, ~19% increase YoY and net income came in at $5.12B or $11.24 per share, ~85% increase YoY.
- The company is projecting 2.5 million net new paid memberships for Q1 FY 2022.
- The company is aiming for an operating margin of 19% to 20% for 2022.
- Netflix shares dropped 1.5% following the release. It closed at $508.25.
| |
Luxury carmaker Mercedes-Benz is partnering with autonomous driving startup Luminar Technologies to develop fully self-driving vehicles. The automaker plans to use Luminar’s lidar technology in the next generation of its cars and SUVs. Lidar, which stands for “light detection and ranging,” is a laser sensor that allows vehicles to measure distances from objects by measuring the amount of time it takes reflected light to return to the receiver. It is considered an integral part of achieving fully autonomous driving. More: - As part of the deal, Mercedes will purchase up to 1.5 million shares of Luminar as the startup hits certain milestones.
- The companies did not disclose a timeframe for when the lidar tech will be deployed in Mercedes vehicles, but Luminar’s founder and CEO Austin Russell noted it would be soon.
- Mercedes is the second automaker to partner with Luminar.
- In June, Volvo announced it would use Luminar’s lidar technology in its new electric SUV, which is expected to hit the market later this year.
- Following the announcement, shares of Luminar jumped 18%. It closed at $15, up 11.5% for the day.
- Luminar went public via a SPAC merger with Gores Metropoulos in 2020.
| |
 A message from SECUREFRAME Streamline your security compliance. Achieve SOC 2, ISO 27001, and HIPAA compliance quickly and easily with Secureframe. We know navigating the world of security and compliance can be confusing. But it doesn’t have to be. With our guided workflows and one-click integrations, we automate the entire compliance process, from readiness to report. With Secureframe, companies can: - Connect with 100+ cloud services and vendors including AWS, GCP, and Azure
- Automate the evidence collection process through our 1-click integrations
- Customize auditor-approved compliance policies from a library of 40+ templates
- Get step-by-step guidance from in-house experts
Secureframe offers user-friendly solutions geared for fast-growing businesses. If you’d like to learn more, schedule a personalized demo today. Schedule Your Demo
| |
American Airlines released its Q4 and full-year earnings on Thursday, reporting its highest revenue since the onset of the COVID-19 pandemic. The airline reported Q4 operating revenue of $9.43B, still below 2019 levels, but more than doubled from 2020's $4B. It reported a net loss of $931M or $1.44 per share, down from $2.2B reported last year. CEO Doug Parker noted the airline experienced periods of high travel demand in 2021, followed by periods of low demand as new COVID variants emerged, making it incredibly difficult for the airline to plan for the future. More: - Parker will retire from his role as CEO in March and will be replaced by the airline's president, Robert Isom. Parker will continue to serve as the airline's board chairman.
- American added 16,000 new employees in 2021 and plans to hire 18,000 more this year.
- Full-year operating revenue came in at $29.9B with a net loss of $2B or $3.09 per share.
- The airline is expecting a 20% to 22% drop in revenue for Q1 FY 2022.
- American shares closed at $16.76, down ~3% for the day.
| |
United Airlines released its Q4 and full-year earnings on Tuesday after market close, beating analysts’ expectations on revenue. The airline reported Q4 operating revenue of $8.2B, a decrease of ~25% from the same period in 2019. It reported a net loss of $646M or $1.60 per share for Q4, a much lesser amount compared to $1.9B in losses reported over the same period in 2020. Full-year operating revenue came in at $24.6B, a 43% drop from 2019, with a net loss of $2B. More: - The company stated the recent rise in infections of the omicron variant of the COVID-19 virus has slowed down bookings and will impact the airline’s recovery.
- For its FY 2022 Q1 guidance, the airline is projecting a 20% to 25% drop in revenue compared to 2019 levels, when it earned $9.59B in revenue.
- The airline is expecting a 15% rise in costs and has canceled plans to increase its capacity by 5%.
- United shares fell ~2% in after-market trading on Tuesday. It closed at $42.88, down 3.4% for the day.
| |
Quick Hits - Sign up for free and find out why Splinterlands is the world’s #1 NFT game. Own your own assets. Get daily airdrops. Earn with every win.*
- Peloton is planning to pause the production of its exercise bike and treadmill for two months, February and March, as demand for the products has fallen and the company tries to cut costs.
- On Wednesday, the Supreme Court denied former President Trump’s request to prevent a House panel from getting White House records related to the Capitol Hill attack on Jan. 6.
- Meta Platforms launched an alpha test of Instagram Subscriptions, a feature that will allow content creators to earn money by providing exclusive content to paying subscribers.
- U.S. jobless claims rose to 286,000 on the week ended Jan. 15. It’s the highest level since October.
- Berlin-based Cherry Ventures has raised a $340M fourth fund, Cherry IV Fund, aimed at early-stage tech startups working on crypto and web 3.
- B2B leads slip through the cracks more often than they should. Fix your inbound funnel and double inbound conversions with Chili Piper. Learn how.*
*This is sponsored content.
| |
Upcoming Events - January 25 - Need To Know NoCoder - Leon Young (Cogniss) (Register Here)
- January 25 - Venturing in VC - Episode #4 with David Cowan (Bessemer Venture Partners) (Register Here)
- January 26 - Join Ketch & Kelley Drye's data privacy experts for a joint webinar. Privacy Priorities for 2022: Legal and Tech Developments to Track and Tackle. (Register Here) *
- January 27 - Understanding the Metaverse (Register Here)
- February 01 - Venturing in VC - Episode #5 (Register Here)
- February 03 - Blockchain Gaming & Play-to-Earn Economies (Register Here)
- February 10 - The Business of Wellness (Register Here)
- February 17 - Efficient Marketing Strategies in a Post iOS 14 World (Register Here)
- February 23 - Need to Know NoCoder: Derya Sousa (Kianda Technologies) (Register Here)
- February 24 - Alternative Investments (Register Here)
- March 03 - The $12B Appetite for Amazon Aggregators (Register Here)
- March 10 - NoCode's Impact on the Gig Economy (Register Here)
- March 23 - Need to Know NoCoder: Nichole Bestman (Bubble) (Register Here)
Visit us at https://inside.com/events to learn more! *This is a sponsored listing.
| |
 |  | Vanessa Omeokachie is a Researcher at Inside. Her interests include finance, tech, and startups. In her free time, she enjoys reading, hiking, attending music festivals, and traveling. Connect with her on Twitter @Ms_Omeo. |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
| |
Achieve SOC 2, ISO 27001, and HIPAA compliance quickly and easily with Secureframe. | |
Comments
Post a Comment