Top tech startup news stories you need to know this Tuesday, May 22
Good morning! Here are some of the top tech startup news stories for today, Tuesday, May 22.
Boeing-backed startup Zunum Aero to deliver its first electric plane to JetSuite. Boeing Horizon X-backed startup Zunum Aero plans to deliver its first hybrid-electric plane in 2022 to JetSuite Inc., setting the stage for a new era in regional flying. JetSuite has options to buy up to 100 aircraft for both its JetSuite private charter and JetSuiteX public charter divisions. JetBlue Airways and Boeing Horizon X both invested in the Zunum Aero. Founded in 2013 by Ashish Kumar, Kiruba Haran, and Matt Knapp, Zunum Aero builds small hybrid-electric airplanes for fast and flexible travel to thousand mile ranges.
Adobe buys Magento Commerce for $1.68 billion. Adobe has acquired Magento Commerce for $1.68 billion. Adobe made the announcement today that it has entered into a definitive agreement to acquire Magento Commerce, a market-leading commerce platform, for $1.68 billion, subject to customary purchase price adjustments. Shares of rival e-commerce platform Shopify plunged almost 5 percent after the announcement.
Google, Microsoft find another Spectre, Meltdown flaw. Another day, another chip flaw. Intel disclosed another way that computers can be attacked related to security flaws announced earlier this year. The biggest maker of computer processors is urging businesses and users to implement fixes as soon as possible. Intel promises patches in the next few weeks. Devices could take a performance hit.
Facebook’s Cambridge Analytica privacy scandal is not over. EU Parliament is scheduled to grill Facebook’s Zuckerberg over data mining, election meddling. Mark Zuckerberg is in Brussels on the latest stop of his apology tour. He’s is set to answer questions about the Cambridge Analytica privacy scandal on Tuesday.
Apple wants $1 billion in damages after Samsung infringed on its patent. Will Samsung owes Apple $1 billion or maybe just $28 million? Either way, the jurors will return to a Silicon Valley courtroom Tuesday, May 22, US time, to deliberate for a second day about whether Samsung should pay Apple a billion dollars for copying iPhone design features. Apple is seeking slightly more than a billion dollars in damages in the seven-year-old legal battle, while Samsung wants a figure closer to $28 million.
Swiss startup launches, aims to commercialize blood pressure bracelet. Switzerland-based startup Aktiia launched a new blood pressure monitoring bracelet. The technology has been years in the making. Aktiia is a spinout of CSEM, a Swiss research and development center, where the tech first came into fruition. However, CSEM does not commercialize products prompting the creation of the newest startup.
China’s Legend Capital raises $156m for second RMB healthcare fund. Legend Capital, the venture and growth capital arm of China’s Legend Holdings Ltd, has made the first close of its second RMB healthcare fund at RMB1 billion ($156 million), according to a repost of a media report on its official WeChat account. The news was first reported by Chinese news daily 21st Century Business Herald.