Android operating system co-creator Andy Rubin has introduced his Essential Phone that he says can be dropped onto concrete without breaking. The new smartphone, which will run on Android software, has magnetic connectors for a 360-degree camera or charger. Priced at $699 and available only in the U.S., Essential Phone will come without preinstalled apps or a need for yearly updates. Rubin also unveiled Essential Home, a voice-activated device that controls appliances. Both products are part of Rubin’s Playground Global incubator. Continue reading Andy Rubin’s Company Unveils New Phone, Digital Assistant

Japanese telecommunications/Internet titan SoftBank Group just led a $502 million investment round in Improbable, a London-based startup that makes virtual worlds for video games and real-world simulations. In exchange, SoftBank will take a board seat and a non-controlling interest in Improbable, although details of the deal were not released. SoftBank founder/chief executive Masayoshi Son’s growing interest in artificial intelligence and the Internet of Things has been a driver in the company’s recent deals. Continue reading SoftBank Bets on Virtual Worlds, Invests in U.K.’s Improbable

Pinterest, now in its third full year earning selling ads, is targeting more than $500 million in revenue this year. The company earned $100 million in revenue in 2015 and $300 million last year. Some close to Pinterest say the company is gearing up for an eventual IPO. “The company hired its first CFO, Todd Morgenfeld, from Twitter back in October, and has Facebook’s former monetization director, Tim Kendall, overseeing all of Pinterest’s revenue efforts, among other things,” reports Recode. Those close to the company suggest that if Snap “can fetch a valuation north of $20 billion on the public markets, Pinterest is in good shape to do something similar.” Continue reading Pinterest, Targeting $500 in Revenue, Could Be Prepping IPO

Augmented reality company Magic Leap has operated in secrecy since its founding in 2010. Based in Florida, Magic Leap, valued at $4.5 billion, has raised almost $1.4 billion from Google, China’s Alibaba, Qualcomm, Andreessen Horowitz and Kleiner Perkins, among others. Rumors of its augmented reality headset have been rife, but the only product to be unveiled thus far was an AR app in 2011. Now, a public photo of a prototype has been released, offering possible details of what the company has been working on. Continue reading Leaked Photo Shows Magic Leap Augmented Reality Prototype

Alibaba is expanding beyond e-commerce into social media and entertainment with its mobile app Taobao. Founded in 2003 as a site for small businesses to sell directly to consumers, Taobao has since blossomed with social and entertainment, a “one-stop shop” paradigm that’s getting Chinese youth to spend more time on the site than visitors to Amazon and Twitter, and mobile revenue more than doubling in the most recent quarter. What helps to make the site so successful are its more than 1,000 special interest groups. Continue reading Alibaba’s Shopping App Mixes E-Commerce and Social Media

Magic Leap has not yet set a date to unveil its mixed reality technology, and didn’t do so at a recent Fortune conference in Aspen. There, Magic Leap founder/chief executive Rony Abovitz and chief marketing officer Brian Wallace said the technology is “very real” and “not a research project anymore.” Some listeners detected a hint that a product might be released this fall, but Abovitz and Wallace never made an overt statement. The most they would say is that the public would see its products “soonish.” Continue reading Magic Leap Still Mum on Release Date, Describes Production

VR company Vrse has changed its name to Within and received $12.56 million in funding, led by venture firm Andreessen Horowitz. Other Within investors include 21st Century Fox and Annapurna Pictures. This is just the latest example of the huge sums that VR and AR companies have been able to garner. Magic Leap raised $793.5 million earlier this year, and Disney spearheaded a $65 million round for VR firm Jaunt. Comcast also led a $6.8 million Series A funding round in VR studio Felix & Paul. Continue reading Vrse Changes its Name to Within and Raises More VC Money

At this year’s SXSW, the verdict is that apps are over. Instead, tech-influenced lifestyle innovations and big picture issues took center stage. President Obama became the first U.S. President to attend the festival, where he delivered a keynote address about encryption and fighting terrorism, without directly referencing the current battle between the Justice Department and Apple. In addition to hearing about futuristic technologies, SXSW attendees discussed the election and enjoyed “lifestyle brand” products. Continue reading SXSW Focuses on Big Issues, Lifestyle Products Replace Apps

Open-source projects and operating systems are in offerings from Facebook, Twitter, Uber Technologies and operating systems such as Linux at the foundation of servers, financial trading platforms and Android phones. But businesses based on open-source code find it hard to make a profit, and sell tech support and consulting services for revenue. Even those that spin off companies from open-source projects don’t make big profits. The solution, some are finding, is to create proprietary code to support the free tools. Continue reading Open-Source Companies Turn to Proprietary Code for Profits

Vrse, a virtual reality content company headquartered in Los Angeles, recently brought on former Rdio chief executive Drew Larner as its chief operating officer. The company has also drawn investment from Andreessen Horowitz, Live Nation, Vice Media and Annapurna Pictures. It’s all about creating content that goes beyond gaming, notes chief executive Chris Milk. To that end, the company plans to produce its own content, through Vrse Works, and distribute its own and others’ through the Vrse app for VR headsets. Continue reading Vrse Envisions a Cinematic Future for Virtual Reality Content

When Andreessen Horowitz established Bitcoin startup 21 Inc., the goal was to turning Bitcoin into an Internet protocol or common language between connected devices, enabling machine-to-machine payments. The company just unveiled its first product and first step on the path to that end. The 21 Bitcoin Computer, which will go on sale Monday for $400 and ship in November, is aimed at developers, not consumers, and offers the Bitcoin protocol as a feature of its Linux-based operating system. Continue reading 21 Bitcoin Computer Enables Machine-to-Machine Payments

Amazon unveiled Launchpad this week, a new platform designed to help hardware and physical goods startups market and distribute their new products on Amazon’s e-commerce site. Launchpad, which currently features more than 200 items from a wide variety of startups, will compete with similar services offered by Product Hunt, Shopify and Shyp. Amazon is going big with the new platform, positioning it as a global product with access to 10 international distribution portals, and working with 25 VC firms, accelerators and crowdfunding services. Continue reading Amazon Debuts Launchpad: New Marketing and Sales Portal

Drone startup Airware has launched a commercial drone operating system with plans to make unmanned aerial vehicles easier to use. Interested businesses would pay a monthly subscription to license Airware’s Flight Core autopilot technology, Ground Control Station, and cloud platform. The system of hardware, software, and cloud computing allows businesses to customize drone missions for their own needs, whether it involves surveying farm land or inspecting cell towers. Continue reading Airware Offers Commercial Drone Operation for the Enterprise

Improbable Worlds has created a distributed computing platform that allows developers to build large-scale, 3D, real-time models, and now the London-based startup has $20 million to bring this tech to gaming, urban planning, biology, and numerous other industries. The modeling system is unique because it draws upon the computing power of its users and redistributes the computing, while enabling collaboration. Prominent venture capital firm Andreessen Horowitz is the investor. Continue reading Improbable Worlds Raises $20 Million for Simulation Platform

Ron Johnson, a former executive at J.C. Penney and Target and the man behind Apple’s successful retail stores, is now leading a new company into the future of shopping. The startup is called Enjoy, and most of its plans are still under lock, but Johnson suggests the company is trying to change the way online shoppers connect with new products. Enjoy’s service, which may bring a little more human touch to the process of choosing products, is scheduled to launch next year. Continue reading Former Apple Retail Chief Gets Ready to Help Online Shoppers