Happy Monday, everyone. It’s the beginning of a new week, which means plenty of tech news to get into.
Uber rival Grab just landed its largest-ever venture funding in Southeast Asia
Beijing ride-sharing company Didi Chuxing and Softbank Group Corp. have raised $2 billion for Grab, which rivals Uber in markets from Malaysia to Thailand.
Grab said it would be raising another $500 million, making its total valuation more than $6 billion - the largest in Southeast Asia, Bloomberg reports.
After competition forced out Uber in Russia and China, the company has fiercely battled Southeast Asian companies like Grab, as well as Go-Jek, in its ultimate attempt to control ride-hailing markets throughout the world.
EU fine will affect earnings for Google’s parent company Alphabet
Alphabet’s earnings will be impacted by a $2.7 billion fine from the E.U. that came in June.
European antitrust officials fined Alphabet’s Google for unfairly favoring some of its own services over those of its competitors.
While Alphabet is expected to appeal the ruling, Wall Street investors such as Goldman Sachs have forecasted lower profits for the company, according to Recode.
A Pokémon Go festival in Chicago experienced significant issues
This past weekend, software company Niantic hosted its first in-person Pokémon Go festival in Chicago, but the event ran into technical issues.
While the estimated 20,000 attendees expected to play a variety of challenges throughout the day, The Verge reports that there was limited cellphone reception and server issues that made playing virtually impossible.
Niantic has offered attendees refunds, $100 of in-game Pokécards and other awards.
Samsung Galaxy Note 8 set to launch in at least three colors
When the Galaxy Note 8 is revealed on Aug. 26 in New York, the smartphone is expected to be offered in at least black, orchid grey and deep blue.
Samsung’s flagship phone is also expected to include a smaller 3,300mAh battery to make it lighter and thinner than its predecessors, according to the International Business Times.
Galaxy Note 8’s launch comes about a year after the release of the troubled Galaxy Note 7, which was recalled after users reported the phone overheating and catching on fire.
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