In its IPO filing, Snap Inc. revealed that an average of 158 million people use the Snapchat app — sending more than 2.5 billion messages and images — every day. The company’s annual revenue grew from $58.7 million in 2015 to $404.5 million last year. Nearly all its revenue comes from advertising, especially on mobile. Expected to seek a market valuation of $20 billion, Snap may receive $4 billion, which, according to Standard & Poor’s Global Market Intelligence would make the company one of the biggest tech offerings ever in the U.S. Continue reading Snap Inc. Files for IPO, Describes Itself as a Camera Company

IBM struck a deal with H&R Block to utilize Watson to help the company’s 70,000 tax professionals at 10,000 branch offices file taxes for 11 million customers. The partnership, which was presented in a 60-second Super Bowl ad on Sunday, began last summer when H&R Block chief executive Bill Cobb contacted IBM. His goal was to aid the company’s professionals in increasing tax refunds and reducing tax liabilities for the company’s clients, and make the experience “engaging and interactive.” Continue reading IBM’s Watson Joins with H&R Block for Better Tax Preparation

In its Q4 earnings report, Facebook revealed that sales rose 51 percent to $8.81 billion, above the $8.51 billion average analyst prediction. The bump in revenue is largely attributed to advertising on mobile phones. Also, within the space of a year, monthly active Facebook users increased 17 percent to 1.86 billion people, with 1.23 billion checking daily and 1.74 billion accessing the social network via their smartphones. Facebook has now cemented its No. 2 position in the mobile advertising market behind Google. The company is also making a major move into video content. Continue reading Facebook Eyes Success with Mobile Ads and Focus on Video

Slack Technologies, launched in 2014, just introduced a new version of its workplace-centric messaging app, with the goal of gaining large corporate contracts. The new Slack Enterprise Grid is built to handle the group messaging needs of very large companies, with thousands or more employees, and includes security tools and regulatory compliance required for such companies’ IT departments to sign off. The original group messaging app is already in play at a few big companies, including Electronic Arts and Samsung Electronics. Continue reading Slack’s Workplace Messaging App Targets Large Companies

A new report from Nielsen notes that Americans 18-34 years of age are less reliant upon social media than some older consumers. “Adults 35 to 49 were found to spend an average of 6 hours 58 minutes a week on social media, compared with 6 hours 19 minutes a week for their younger counterparts,” reports The New York Times. “More predictably, adults 50 and over spent significantly less time on social media, with an average of 4 hours 9 minutes a week on the networks.” Not surprisingly, the report stressed how important smartphones have become to people of all ages. The most popular mobile platforms, in order: Facebook, Instagram, Twitter, Pinterest, LinkedIn, Snapchat. Continue reading Gen X Now More Obsessed with Social Media Than Millennials

The California Department of Motor Vehicles released its annual report from the 11 companies with state permits to test autonomous vehicles as of end of 2015, and they have all made rapid progress. The report, which covers December 2015 to November 2016, recounts how many times humans had to take over driving tasks. Google and General Motors in particular have excelled, with cars that can drive hundreds of miles at a stretch without a hitch. Nissan has gone from needing intervention every 14 miles — to assistance needed after 247 miles. Continue reading California DMV’s Report on Self-Driving Cars Shows Progress

As part of its “video first” strategy, Facebook is at work on a video app for Apple TV and other TV set-top boxes, say knowledgeable sources, who add that the social media platform is also in discussions to license long-form “TV-quality” content. The move will allow Facebook to compete for TV advertising revenue and distribute content to TV sets. The company is already the No. 2 destination for digital ads after Google, but has said it is running out of room for more ads in its News Feed, the company’s main source of revenue. Continue reading Facebook Working on Video App, Licensing TV-Quality Content

In the not-so-distant future of advertising, Hollywood, armed with big data, will be able to create precision-targeted ads that will compete with today’s dominant advertisers, social networks. Today, many advertisers are finding that relying on the most popular platforms might not actually give them the reach they want for their ads. Facebook has admitted more than once that it has mistakenly inflated all kinds of ad metrics, from how much time users spend watching video clips to time spent reading articles. Continue reading Hyper-Targeted Ads of the Future to Rely on TV, Social Media

Alphabet has recalibrated its strategy with autonomous vehicle division Waymo. After spinning it off into a separate company, Alphabet is now focusing on Waymo’s ability to provide a complete hardware/software technological platform to manufacturers making self-driving cars. This new goal is in line with company CFO Ruth Porat’s directive that its moonshot initiatives actually meet specific financial targets. By doing so, Waymo becomes a direct competitor with companies such as Mobileye and Delphi. Continue reading Waymo Shifts Gears to Become a Supplier, GM Releases SDK

Alphabet’s Q4 revenue increased almost three times faster than profit, leading the tech titan to look for new growth areas. The company says that a one-time tax adjustment accounted for the missed Wall Street expectation. Google’s largest global advertising business and the very popular YouTube account for most of the revenue, but Alphabet is looking to mobile search, YouTube and automated ad buying as newer forms of advertising; its new smartphone Pixel and digital assistant-powered Google Home also show promise. Continue reading Alphabet: Search is Strong, Future Bets on YouTube, Pixel, IoT

Although both Google and Facebook have declared they will fight fake news, the two companies are still in the early stages of acting on that pledge. Google says that, as of the end of 2016, it had permanently banned almost 200 publishers from its AdSense advertising network. Facebook took aim at its Trending Topics feature, blamed by some for spreading fake news, introducing changes intended to showcase only reliable news articles. But these actions are miniscule in context of the immense problem at hand. Continue reading Google, Facebook in Earliest Stages of Combatting Fake News

As part of its push to ramp up software offerings for enterprise customers, Cisco Systems is purchasing software maker AppDynamics Inc. for a premium $3.7 billion, just as the company was about to go public. AppDynamics software helps companies — including airlines, banks and retailers — monitor their applications’ performance and address any potential problems across cloud services offered by Google, IBM and others. The startup was founded by engineer Jyoti Bansal in 2008. Continue reading Cisco Systems Plans $3.7 Billion Acquisition of AppDynamics

Oculus Story Studio, launched in early 2015 to tell virtual reality stories, has a winner on its hands with “Dear Angelica,” a 12-minute animated experience that features the voice (and life story) of actress Geena Davis. Debuted at the Sundance Film Festival, “Dear Angelica” was drawn in VR with a new tool called Quill. The project follows Oculus Story Studio’s previous VR efforts — “Lost,” about a robot that gets lost in the woods; and the Emmy-winning “Henry,” an animated story of a hedgehog who sought love (and hugs), the latter directed by Pixar animator Ramiro Lopez Dau. Continue reading Oculus Story Studio Uses VR Drawing Tool for New Animation

The 45+ year-old IMAX is now setting its sights on virtual reality, with the company’s chief executive Richard Gelfond seeing VR as the future of movies. In fact, IMAX is hoping to lead the charge into this new medium for storytelling, investing $50 million into VR content. The plan is to finance more than 25 VR experiences in the next three years; the company is already in discussions with directors and studios. IMAX also inked a deal with Google to build a new and improved VR camera, which it plans to unveil in 2018. Continue reading IMAX Plans to Create Big Screen Immersive VR Experiences

Google is among the biggest buyers of its own ads and the Silicon Valley titan is increasingly pushing its own hardware products — from Nest smart-home thermostats to the new Pixel phones — on its own site. Now a recent study shows that Google gives its own ads and those of its affiliate companies the most prominent placement nearly all the time. Google isn’t the only company competing with its customers for online ad space; Facebook and Microsoft fall into that same category. The digital advertising industry is valued at $187 billion. Continue reading Google Competes with Customers for Prime Online Ad Space