A new MacBook could be in the works, according to Apple regulatory filing – Blog – 10 minute

What just happened? It’s a new year, and with it comes the usual influx of product rumors, teases, and regulatory filings. Today’s news falls into that last category: a new mystery Apple product has popped up in the Eurasian Economic Commission databases, and though details are scarce, there’s reason for MacBook fans to get excited.
The product was first spotted by 9to5Mac, and it carries the model number “A2289.” Notably, the filing (which has been approved) attached to the item references a “portable personal computer,” which is the perfect description for a new MacBook.
If that’s not enough, though, the filing also claims the device will run macOS 10.15. Unless Apple is planning to roll the desktop OS out to its mobile gadgets, a new MacBook is all but confirmed. However, as we said, other details are unknown — we’re not sure what the screen size or resolution will be, nor do we know how much the device will cost, or what new features it will have.
With that said, we can make some educated guesses. As 9to5Mac points out, it would make sense for the upcoming MacBook to feature Apple’s old (but gold) scissor switches — the predecessor to the notoriously-unreliable butterfly keyboard design that has plagued Mac users for the past few years.

It’s also likely that the upcoming notebook will be 13 inches in size, since Apple just released a 16-inch MacBook with scissor switches a couple months ago. Still, that’s pure speculation, and Apple may have something completely different up its sleeve (perhaps a new MacBook Air).
Regardless, we’re excited to see what this mystery notebook will be. An announcement, or at least a tease for the device will likely occur sometime over the next three to four months (or less, if we’re lucky).

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SpaceX ‘getting ready’ to fly orbital Starship design with new FCC filing – gpgmail


SpaceX is taking the steps necessary to begin test flying the orbital-class version of its Starship spacecraft, with new documents filed by the company (via Teslarati) with the FCC seeking necessary permissions for it to communicate with the prototype while it’s in flight.

The company filed documents with the U.S. regulatory agency this week in advance of the flight, which lists a max altitude of 74,000 feet, which is a far cry from Earth orbit but still a much greater distance vs. the 500 or so feet achieved by the squat ‘Starhopper’ demonstration and test vehicle that SpaceX has been actively operating in preparation for Starship .

SpaceX CEO Elon Musk confirmed that prep was underway via tweet. Musk has previously said that he hoped to follow the Starhopper’s most recent and final successful test quickly with tests of the full-scale vehicle. Like with that low-altitude test, SpaceX will aim to launch and land the Starhopper, with touch down planned just a short distance away.

Assembly and construction of the Starship prototype looks to be well underway, and Musk recently teased a Starship update event for September 28, which is likely when we’ll see this prototype assembled and ready to go ahead of its planned October first test flight window.

Starship is the next generation of SpaceX spacecraft, designed for maximum reusability, and with the aim of creating one vehicle that can serve the needs of current and future customers, eventually replacing both Falcon 9 and Falcon Heavy. Starship is also a key ingredient in Musk’s ambitious plan to reach and establish a continuing human presence on Mars.


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WeWork reveals IPO filing – gpgmail


WeWork, now known as The We Company, released its IPO prospectus Wednesday morning months after filing confidentially to go public.

Backed by billions by SoftBank and its mammoth Vision Fund, the exit is expected as soon as next month.

The New York-based company, valued at $47 billion earlier this year, has long been rumored to be plotting a massive IPO despite towering losses. The business recently disclosed steep 2018 net losses of $1.9 billion on revenue of $1.8 billion. To convince Wall Street it’s a business worthy of their investment will be a challenge, to say the least.

In its filing, WeWork disclosed revenue north of $1.5 billion in the six months ending June 30 on losses of $904.6 million.

WeWork has raised a total of $8.4 billion in a combination of debt and equity funding since it was founded in 2011. Its IPO is poised to become the second-largest offering of the year behind only Uber, which was valued at $82.4 billion following its May IPO on the New York Stock Exchange.

WeWork plans to sell shares of its stock under the ticker symbol “We” with the share price yet to be determined.

SoftBank, unsurprisingly, and Benchmark are to be the big winners of the upcoming exit. The investment funds own roughly 114 million and 33 million pre-IPO shares.  Benchmark, a venture capital fund, led a $17 million financing in the business in 2012.

Seven years later, WeWork operates 528 co-working spaces in 111 cities across 29 countries, with a total of 527,000 memberships. 50% of members are outside the U.S.

Even with fast growth and a global presence, WeWork is often referenced as the perfect example of Silicon Valley’s tendency to inflate valuations. WeWork, a real estate business with tech-enabled services built on top, burns through cash rapidly and will has had a tough time plotting out a clear path to profitability.

“We have grown significantly since our inception,” the company writes in the S-1.” Our membership base has grown by over 100% every year since 2014. It took us more than seven years to achieve $1 billion of run-rate revenue, but only one additional year to reach $2 billion of run-rate revenue and just six months to reach $3 billion of run-rate revenue.”

As it gears up to transition into the public markets, WeWork, planning to open co-working spaces in an additional 169 locations, says it’s targeting 149 million potential members and a potential addressable market of $945 billion.

WeWork is also backed by T. Rowe Price, Fidelity, Goldman Sachs and several others.

This story is updating

 


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SNES controller for Switch shows up in FCC filing, hinting at SNES games for Nintendo Online – gpgmail


Nintendo looks set to release wireless SNES controllers for the Nintendo Switch, which likely means it’ll also be bringing classic SNES titles to its Nintendo Online virtual gaming library. The news comes via an FCC filing (hat tip to Eurogamer) , which includes a diagram of what looks very clearly to be the backside of a Super Nintendo-style wireless controller.

The diagram includes a model number that uses the ‘HAC’ code that Nintendo employs to designate Switch accessories, and past history suggests that the arrival of retro-inspired hardware for the Switch also means throwback games are on their way. Nintendo launched wireless NES controllers for the Nintendo Switch in September, and they arrived alongside NES games delivered via Nintendo Online as free perks for subscribers.

The FCC filing is more or less concrete proof that Nintendo intends to release something, but the rest is speculation (if very likely, informed speculation) at this point. Still, it seems inevitable that Nintendo bring its SNES library to the Switch, especially since it did so for the Wii Virtual Console before.


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Postmates to drop IPO filing next month – gpgmail


Postmates plans to make its IPO paperwork public in September, gpgmail has learned. Despite previous reports indicating the on-demand delivery company is seeking an M&A exit, sources close to the matter say Postmates is on track to go complete an initial public offering this year.

With the S-1 dropping in September, San Francisco-based Postmates is expected to debut on the stock exchange by the end of the third fiscal quarter of 2019. The company has tapped JP Morgan Chase and Bank of America Corp. as lead underwriters, Bloomberg previously reported, though other details of the float, including the size and price range of the proposed offering, have yet to be announced.

“We can’t comment on the IPO process and we don’t comment on rumor or speculation,” a Postmates spokesperson told gpgmail.

In February, Postmates confidentially filed with the U.S. Securities and Exchange Commission for an IPO. Shortly after, Postmates held M&A talks with DoorDash, another food delivery unicorn, according to people familiar with the matter, but failed to come to mutually favorable terms. DoorDash declined to comment for this story.

Postmates has raised $681 million to date with its latest round coming in earlier this year at a $1.85 billion valuation. DoorDash, on the other hand, reached a $12.6 billion valuation in May with a $600 million Series G.

As Postmates gears up for its IPO, the food delivery business continues to consolidate. DoorDash last week purchased another food delivery service, Caviar, from Square in a deal worth $410 million. Uber is said to have considered buying Caviar, which had been looking for a buyer at least since 2016, according to Bloomberg.

DoorDash has been under heavy scrutiny as of late for the way it pays its drivers. Back in February, we reported how DoorDash offsets the amount it pays drivers with tips from customers. It wasn’t until after much backlash that DoorDash finally said it would change its policies. DoorDash has yet to implement the new policy.

How Postmates will fare on the public markets is up for debate. The billion-dollar company will go head-to-head with other public businesses in the space, including powerhouses Uber and Grubhub.

Uber last week shared disappointing second-quarter earnings. The company’s food delivery unit, UberEats, however, continues to grow at an impressive rate. UberEats did $3.39 billion in gross bookings last quarter with monthly active platform consumers (MAPCs) growing more than 140% year-over-year. Still, the unit is years away from profitability, Uber chief Dara Khosrowshahi told CNBC on Thursday.

Postmates’ updated IPO plans follow a report from Bloomberg that WeWork expects to make its IPO prospectus available in the next week. Eyes will be on both WeWork, which hopes to raise more than $3.5 billion, and Postmates, as the companies occupy two unproven categories.

Postmates follows Uber, Lyft, Pinterest and many others to the public markets in 2019, a year when many of Silicon Valley’s most notable unicorns finally decided to make the transition from private to public.

Postmates, founded in 2011 by Bastian Lehmann, is backed by Spark Capital, Founders Fund, Uncork Capital, Slow Ventures, Tiger Global, Blackrock and others.


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In a 130-page court filing, Kik claims the SEC’s lawsuit “twists” the facts about its online token – gpgmail


CEO Ted Livingston of Kik

Kik Interactive has hit back at the Securities and Exchange Commission lawsuit that claims a $100 million token sale was illegal. The company, which owns Kik Messenger, filed a 130-page response today in U.S. District Court for the Southern District of New York, alleging that the SEC is “twisting” the facts about its token, called Kin, and asking for an early trial date and dismissal of the complaint.

One of the key issues in the case is if Kin was just an in-app token used to buy games, digital products and other services in Kik Messenger, or if it was meant to be an investment opportunity, as the SEC alleges.

Kik’s general counsel Eileen Lyon said in a press statement that “since Kin is not itself a security, the SEC must show that it was sold in a way that violates the securities laws. The SEC had access to over 50,000 documents and took testimony from nearly 20 witnesses prior to filing its Complaint, yet it is unable to make the case that Kik’s token sale violated the securities laws without bending the facts to distort the record.”

The SEC alleges that the token sale, announced in 2017, came at a time when the company had predicted that it would run out of money after Kik Messenger had been losing money for years, and that it then used proceeds from that sale to build an online marketplace for the app.

In the filing, Kik’s legal team denied that charge, claiming that the SEC’s allegations about its financial condition “is solely designed for misdirection, thereby prejudicing Kik and portraying it in a negative light” and that Kik began working on a cryptocurrency-based model after exploring monetization options that would help it compete against larger techc companies.

They added that “Kik’s Board and Executive Team alike believed that Kin was a bold idea that could solve the monetization challenges faced by all developers (not just Kik) in the existing advertising-based economy, by changing the way people buy and sell digital products and services.”

The SEC also alleges that the sale of digital tokens to U.S. investors was illegal because Kik did not register their offer as required by United States law, even though it claims that Kik marketed Kin as an investment opportunity whose value would increase. In its response, Kik denied that it offered or sold securities, or violated federal securities laws.

In the company’s press statement, Kik CEO Ted Livingston said “The SEC tries to paint a picture that the Kin project was an act of desperation rather than the bold move that it was to win the game, and one that Kakao, Line, Telegram and Facebook have all now followed.”


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