economy

  • Where human intelligence outperforms AI Crunch Network

    Where human intelligence outperforms AI

    With every new trend comes a counter-trend. And so despite the current excitement over the wonders of artificial intelligence, one company is betting that human intelligence can still deliver solutions for businesses that AI cannot hope to match. Article One Partners (AOP) is a crowdsourced network of over 42,000 researchers in 170 countries — 42% of whom have graduate degrees in a… Read More

  • Alibaba is leading a $27M investment in open source database startup MariaDB

    Alibaba is leading a $27M investment in open source database startup MariaDB

    Alibaba has spent 2017 pushing its cloud computing business and now it is preparing to make its first major investment in a Western startup in the space. The Chinese e-commerce giant has agreed to lead a €22.9 million ($27 million) investment in MariaDB, the European company behind one of the web’s most popular open source database servers, according to a source with knowledge of… Read More

  • Watch Elon Musk’s keynote where he announced SpaceX’s new rocket and Mars colonization

    Watch Elon Musk’s keynote where he announced SpaceX’s new rocket and Mars colonization

    Elon Musk gave a keynote address yesterday to the International Aeronautical Congress in Adelaide, Australia. During the 43 minute talk, which is embedded above, Musk laid out SpaceX’s future including colonizing Mars and building one rocket to rule them all. The talk is fantastic. Elon was Elon and revealed countless details about future SpaceX plans. This is why he’s celebrated… Read More

  • Confirmed: Korean crypto exchange Korbit sold to Nexon parent for $80M

    Confirmed: Korean crypto exchange Korbit sold to Nexon parent for $80M

    The parent company of games giant Nexon has confirmed that it acquired Korea’s second largest cryptocurrency exchange, Korbit, in a deal that values it at just over $120 million. A spokesperson from NXC, the corporation that is the largest shareholder of $11.5 billion-valued Nexon, confirmed to TechCrunch that it paid 91.3 billion KRW (approximately $79.5 million) for 65.19 percent… Read More

  • Following its $25M ICO, Omise lands strategic investment from Thai bank Krungsri

    Following its $25M ICO, Omise lands strategic investment from Thai bank Krungsri

    Earlier this year Thailand-based Omise held a $25 million ICO to develop a next-generation decentralized payment network, and now the company has closed an undisclosed investment from Thai bank Krungsri (Bank of Ayudhya). Omise has raised over $20 million in VC money — the ICO was for its Omise Go (OMG) division — but this new financing is strategic in nature. The deal itself… Read More

  • Alibaba pays $807M to take majority ownership in logistics affiliate Cainiao

    Alibaba pays $807M to take majority ownership in logistics affiliate Cainiao

    Alibaba is getting serious about logistics after it agreed to invest RMB 5.3 billion ($807 million) in order to take majority ownership in subsidiary company Cainiao. Cainiao was created four years ago alongside eight other backers to bring organization in Chinese logistics, particularly around e-commerce deliveries. The company raised its first outside funding in March 2016 —… Read More