Every evening, the best of Tech news is in the TL; DR of FrenchWeb.
TL; DR (invariable acronym) (21st century): initials of “too long; didn’t read“,
either literally “too long ; not read“
1. (Internet) To express that the message that was sent was not read because it was too long.
2. (Internet) To express that the following is a summary of the text too long.
PayPal is offering the Swedish iZettle for $ 2.2 billion. This is the largest acquisition in the history of the American online payment giant.
Why this is important: The takeover of the Swedish start-up should allow PayPal to strengthen its range of services for merchants, mainly in Europe. This year, iZettle plans to process approximately $ 6 billion in transactions. In 2017, the company’s revenue grew 51% to $ 111 million. At the same time, the Nordic company conceded an operating loss of $ 26 million. iZettle hopes to achieve profitability by 2020.
Holographic projections: DigiLens raises $ 25 million from Continental. The two companies are working together to adapt this technology to the automotive industry.
Why this is important: DigiLens began working with Continental in 2016 to develop a display that meets the demands of the automotive industry. “Seeing the promising first results, we are happy to have been able to increase our investment in DigiLens and to be able to continue working together to bring this exciting technology to the road.», Explains Continental.
The connected speakers market grew by 278% in the first quarter. Amazon and Google claim 70% of this booming market, while Apple’s HomePod is lagging behind.
Why this is important: In terms of shares, Amazon occupies 43.6% of the market and Google goes up to 26.5%. Even though Amazon’s market share has fallen compared to last year, in particular because of the sales boom from Google and new entrants like Alibaba or Xiaomi, Jeff Bezos’ firm remains by far the leading supplier of smart speakers to the world. Google and Amazon have the competitive advantage of offering a range of products at varying prices.
Circle raises $ 110 million to create a cryptocurrency backed by the dollar. It should begin to be issued this summer.
Why this is important: Circle wants to create stablecoins that will allow users to transfer money in an optimized way. Each token, called Circle USD Coin (USDC), will be backed by the US dollar rate. The volatility of cryptocurrencies is indeed one of the main challenges of the sector.