Adobe Inc, previously referred to as Adobe Systems Inc, is a multinational software company headquartered in California, USA. It specializes in software for creating graphics, photography, illustration and animation, etc. The company’s popular tools include Adobe Photoshop, Adobe Illustrator, and Adobe Acrobat Reader. Adobe was founded in 1982 and was reportedly considered one of the…
IBM: $2.3 Billion Software AG Acquisition Deal
The International Business Machines Corporation, also called Big Blue, is an American multinational technology corporation founded in 1911 and headquartered in Armonk, New York. Present in 177 countries, IBM is the largest industrial research organization in the world, specializing in computer hardware, middleware, and software solutions. According to reports, IBM will acquire two subsidiaries of…
Apple: $25 Million Class Action Lawsuit
Apple has reportedly agreed to settle a class action lawsuit over its family sharing feature. This feature allows users and up to 5 of their contacts share access to certain purchased applications, music and files. The lawsuit claims that Apple advertised the family sharing feature on apps that did not support subscription sharing. According to…
Cruise to Layoff 24%
Cruise has announced a 24% workforce reduction in a bid to cut costs and restructure processes across the company due to changing market demands and multiple collision notices, as reported by Incognito Blog in November 2023. The job cuts will supposedly affect teammates in the non-engineering and commercial operations departments, which amounts to approximately 900…
Techstars: $1.44 million African Startup Investment
Techstars is an investment company that provides access to capital, resources, mentorship and technical support for technology driven entrepreneurs and startups. Founded in 2006, the company has supported over 2,900 startups through its accelerator programs. Techstars programs span across Africa, North America, Europe, and the Middle East. According to Techstars, 12 companies have been selected…
Italy: Airbnb $621 million Back Tax Bill
Airbnb, the online platform where individuals and families can list their homes for short or long term rental, has agreed to pay $621 million USD (575 million EUROS) to the Italian Revenue Agency. This amount is the short-term rental tax that the business owes the Italian government on behalf of the hosts that made use…
Etsy to Layoff 11%
Etsy, Inc. is an American e-commerce company focused on handmade vintage items and craft supplies. The company was founded in June 2005 and is headquartered in Brooklyn, New York. The items sold on the platform include jewelry, bags, clothing, home decor, furniture, toys, art, and tools. Sellers are given a personal E-store front to list…
Tesla Recalls 2,031,220 Vehicles
Tesla has issued a recall of over 2 million vehicles in the United States due to safety concerns that affect the self driving software. According to a notice from the National Highway Traffic Safety Administration (NHTSA), certain models of the electric vehicle (EV) experience a problem with the Autosteer feature. The models affected include: TESLA…
TikTok: $10 Billion Global Consumer Spend
TikTok, the shortform video and text messaging mobile application that has been under scrutiny for privacy concerns, has now been identified as the first non-gaming application to generate $10 billion USD in worldwide consumer expenditure. The report mentions that users spend over $11 million USD daily buying in-app coins for tipping or gifting their preferred…
SmileDirectClub Closes Shop
SmileDirectClub was a tele-dentistry (the use of technology for dental care) company founded in 2014 with its headquarters in Tennessee, USA. The public traded company specialized in 3D-printed dental braces used for teeth re-alignment and boasted of being relatively affordable than most traditional options. According to recent reports, SmileDirectClub filed for chapter 11 bankruptcy in…