Magic Leap, the startup that raised $542 million in a funding round led by Google, has filed a patent for “cinematic reality,” in which users will get access to the company’s augmented reality tech through a headset and belt pack. Magic Leap’s system stores content in the cloud, and any augmented reality content can be configured to fit in with the user’s physical environment. The patent lists interesting possible uses for the technology, from grocery shopping and home decor to surgery and hospital stays. Continue reading Magic Leap Patent Reveals Possibilities for Augmented Reality

Streaming service Vimeo is planning to team up with YouTube network Maker Studios to fund and distribute projects this year that will get exclusive release windows via Vimeo On Demand, the platform’s premium VOD tier. As part of the deal, Vimeo On Demand will be made available to Maker Studios’ 55,000 creators. Disney-owned Maker Studios has started looking into distribution options, including its own Maker.TV player and a new programming partnership with Dish’s soon-to-launch streaming service, Sling TV. Continue reading Vimeo Enters into Deal with Maker Studios for Original Content

Reddit, the self-proclaimed “front page of the Internet,” wants to give something back to its millions of active contributors. In a blog post Friday, Reddit announced its plans to distribute 10 percent of its equity in the form of ‘reddit notes’ to approximately 950,000 users in the fall of 2015. The ‘currency’ can be used to tip, donate, or trade on the Reddit site, although specifics are still being worked out. Reddit plans to use a random lottery for distributing reddit notes to active user accounts. Continue reading Reddit to Thank Active Community Members with Equity Share

Google may lead Andreessen Horowitz and other investors in a $500 million round of funding for Florida-based hardware and software maker Magic Leap, according to sources. The company is working on a new 3D experience that is more advanced than current virtual reality and augmented reality technologies. Magic Leap has released very few details about its “cinematic reality” tech, but it is most likely going to involve super high-resolution 3D images projected from special glasses. Continue reading Google to Lead Investment in Magic Leap’s ‘Cinematic Reality’

Universal Music Group, largest of the major music labels, just closed an investment deal with Rockbot, a virtual jukebox service that provides music to bars, restaurants and other locations. Through Rockbot, businesses can play licensed music while customers use a mobile app to check in and interact with the songs. One perk is the ability for customers to vote on which music will be played. Rockbot expects to use the new funding to expand its reach throughout the U.S. Continue reading Rockbot: Universal Music Invests in Social Jukebox Service

VocalIQ, a UK-based company that works on software to enable voice control of devices, is collaborating with General Motors to take vehicle voice control to the next level. The intuitive system would learn the driver’s vocabulary and intentions to create more precise responses, without the need for specific wording. The dialogue management system would be integrated into the car’s dashboard navigation. GM’s Israel-based Advanced Technical Center is overseeing the development. Continue reading VocalIQ and GM to Make Vehicle Voice Control More Intuitive

Adtile, a startup that promotes interactive mobile advertising, has raised $4.5 million in Series A funding, with plans to introduce an app-style store for mobile ads. Adtile’s Motion Ads format encourages users to play with ads by shaking and turning their phones. The result could be spilling a virtual coffee cup, for example, that then displays a list of nearby stores. Building these ads can be an extensive process, so the store plans to sell pre-designed and pre-coded Motion Ads. Continue reading Adtile Plans New App-Style Store for Interactive Mobile Ads

Google-owned YouTube is reportedly in active discussions to purchase live video-game streaming service Twitch. While Variety indicates a deal has already been reached for more than $1 billion, The Wall Street Journal more conservatively reports that the two companies are in talks, but in the early stages of a potential deal. Twitch was launched in 2011 by Justin Kan and Emmett Shear, the co-founders of Justin.tv, which was one of the first sites to live-stream user-generated video. Continue reading YouTube in Talks to Acquire Video Game Streaming Site Twitch

Similar to how business networking site LinkedIn services the needs of recruiters, professionals and job seekers, Technicolor has launched a social network called Creative District that is geared toward media producers and creatives. The platform is designed to help film and media creators collaborate and share resources, and find work and funding. Creative District operates as a startup, while Technicolor serves as the network’s sole investor. Continue reading Creative District: Technicolor Launches Pro Networking Site

Twitter has agreed to purchase data partner Gnip, in a move that could lead to an expanded role by Twitter in analyzing tweets for businesses that are seeking new insights from social media. While financial terms of the deal have yet to be released, Gnip has reportedly raised $6.6 million in funding. Twitter also announced that it has hired Daniel Graf as its new product chief. Graf, an expert in mobile apps, most recently served as a director at Google where he oversaw Google Maps. Continue reading Twitter Acquires Gnip, Could Provide More Data to Advertisers

IP video startup Layer3 TV announced that it has raised $21 million in Series A funding. The company, staffed by cable industry veterans, describes itself as “a next-generation cable provider” combining “the best of television, social media, and digital life.” Executives include CEO Jeff Binder (founder of VOD company Broadbus Technologies), CTO David Fellows (formerly of Comcast and AT&T Broadband), and Chuck Hasek as head of video technology (formerly principal architect of video systems at Time Warner Cable). Continue reading Notable Cable Industry Vets Raise $21 Million for Layer3 TV

According to Kickstarter, the crowd-funding site officially passed $1 billion in pledges yesterday. Of the one billion pledged by 5.7 million individuals from 224 countries and territories to help fund creative projects, more than half was pledged in the last 12 months. More than $663 million was pledged by nearly 3.76 million backers in the U.S. alone. Other top countries include the U.K., Canada, Australia, Germany and France. Interestingly, nearly 16,000 people have backed more than 50 projects. Continue reading New Milestone: Kickstarter Passes the $1 Billion Pledge Mark

Since its launch in 2010, Pinterest has quickly transformed from a quirky website into a social media base used by one-fifth of American adults. To continue nurturing this growth, Pinterest CEO Ben Silbermann has announced a new business model that will finally start to generate revenue. Pinterest plans to charge advertisers for promoting their products on the site. An analyst at Wedbush Securities believes this has the potential to earn Pinterest more than $500 million in 2016.  Continue reading Pinterest CEO Unveils Revenue Growth Plan for the New Year

The world’s most powerful smartwatch will soon be released, and it wasn’t created by Apple or Google, but a 19-year-old college dropout. The Kickstarter-funded product, named Neptune Pine, will be able to ship as soon as it has FCC approval and the Kickstarter funds are delivered for mass production. The project’s video depicts a working prototype with a 2.6-inch frame, front- and rear-facing cameras, and Web browsing, among countless other features. Continue reading Neptune Pine Smartwatch is Just as Capable as a Smartphone