Good Afternoon! Here are top tech startup news stories you need to know this Thursday, December 28.
Mysterious startup UBI Blockchain Internet is riding the bitcoin wave. Hong Kong startup, UBI Blockchain Internet, stock price is soaring. The startup was launched just about a year ago. The company has no revenue and little results to show for it, UBI Blockchain Internet is riding the bitcoin wave. The stock surged almost 1,000 percent this year, valuing UBI Blockchain at $1.2 billion. It’s become one of the most valuable publicly traded companies in the bitcoin universe — second only to LongFin Corp. There is very little information about the startup. According to Bloomberg, UBI Blockchain Internet, Ltd. does not have significant operations. Previously, it was engaged in designing a suite of modular, self-contained, automated, and climate controlled units for distributed production of energy. The company was formerly known as JA Energy and changed its name to UBI Blockchain Internet, Ltd. in November 2016. The company was founded in 2010 and is headquartered in Hong Kong. UBI Blockchain Internet, Ltd. operates as a subsidiary of Almost Never Films Inc. The startup has registered to sell an additional 72.3 million shares owned by executives including Chief Executive Officer Tony Liu, regulatory filings show.
Uber is likely no longer the world’s most valuable startup anymore. SoftBank today closes the acquisition of Uber at a roughly 30% discount according to a report from Wall Street Journal. SoftBank’s stake now put Uber at a value of $48 billion compared to its previous offer of about $70 billion.
Noon.com, a Dubai billionaire’s tech Startup takes on Amazon. Real-estate tycoon Mohamed Alabbar launched Noon, a tech startup to compete with Amazon for a foothold in the Middle East’s online shopping boom. Noon.com is an online shopping destination that’s inspired by their customers. The company will start with an initial $1 billion investment split equally between Saudi Arabia’s Public Investment Fund and private investors from the Gulf led by Mohamed Alabbar. Noon.com is set to boost e-commerce sales in the Arab region to $70 billion from only $3 billion over the next 10 years, or to around 2% of total sales and commerce traffic in the region.
CariClub is a startup helping companies like Citigroup and KKR to get their employees give back. CariClub helps companies get their employees to give back. A for profit company living between big business and the non-profit sector, CariClub functions as a matchmaker for young professionals and associate boards.
Payroll startup Salarium Plans ICO. A Philippines-based startup Salarium is looking to raise $20 million via an initial coin offering (ICO), according to Wednesday (Dec. 27) reports in the Inquirer. The startup provides payroll and human resources (HR) solutions. The startup is offering its cryptocurrency, SALPay token, to raise the funds. The startup was launched in 2013 and has expanded its services to integrate with its eWallet and debit Mastercard solutions.