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Elon Musk’s Tesla To Remain a Public Company

25Aug By Gauri SinghNo Comments

News

Elon Musk’s Tesla To Remain a Public Company

After brewing up all the excitement of people regarding Tesla going private, the company announced that it will remain a public company. CEO Elon Musk on Friday stated that after interacting with shareholders and investigating the procedure and process of taking the company private, he believes the better way for Tesla is to remain public. For the same purpose, Musk had a meeting with Tesla’s board of directors on Thursday and announced his decision. "Elon communicated to the Board that after having done this work and considered all factors, he believes the better path is to no longer pursue a transaction for taking Tesla private," the board members wrote. On the other hand, the special committee that was formed for the purpose of taking Tesla private has been dissolved. When Musk...

8Aug By Gauri SinghNo Comments

News

Elon Musk’s Tesla is Going Private

Elon Musk, the chief executive of electric car manufacturer Tesla is taking the carmaker private at $420 per share. This move comes when the company is witnessing immense growth and financial constraints. When the deal is implemented, it would take Tesla out of the glare of Wall Street but might limit its access to capital. “There’s a lot of noise that surrounds a public company and people are constantly commenting on the share price and value,” Musk said. “Being public definitely increases the management overhead for any given enterprise.” Taking Tesla Privatehttps://t.co/kw4eHOJfBh — Tesla (@Tesla) August 7, 2018 Musk stated his plans of going private on Twitter and this shocked the investors and sent Tesla’s stock price soaring as much as 8.5 percent befor...

Facebook Bug Changed The Privacy Settings of 14 Million Users

8Jun By Gauri SinghNo Comments

News

Facebook Bug Changed The Privacy Settings of 14 Million Users

The most popular online social media platform Facebook recognized a technical malfunction on Thursday due to which the default privacy settings of around 14 million users were changed, making their posts public even if they were determined to be private. The Facebook users who thought they might be sharing their content privately only with their friends unintentionally shared their posts with everyone on the platform because of the software bug. The company yet again failed to keep the information of millions of users private. The company blamed a software bug for this problem and stated that it went back and reclassified the affected posts to the user's default setting before the bug, and the problem has now been resolved. Also, it has been mentioned that Facebook will notify and in...

A Fall In Tech Valuations, U.S. and Chinese unicorns running in different directions

21Dec By No Comments

BLOGS

A Fall In Tech Valuations, U.S. and Chinese unicorns running in different directions

A fall in tech valuations may send U.S. and Chinese unicorns running in different directions. Several private Silicon Valley firms worth $1 billion or more have taken valuation hits once they are in the public eye. The same may be happening to one-horned beasts in the People’s Republic, only in private. Take Jack Dorsey’s U.S. online payments outfit, Square. The shares popped enthusiastically on the company’s stock market debut in November, but its market capitalization remains about a third below the $6 billion price tag implied by an earlier private funding round. Some unicorns that have yet to go public are already feeling the chill. Fidelity Investments, a prominent investor in late-stage private financings, recently marked down its holding in Snapchat by 25 percent from a headline ...