Good morning, Austin! We have scrolled the internet to bring you the latest in technology news. Here’s what’s happening:
SoftBank bids to buy Uber shares for 30% less than current value
SoftBank and a group of investors are trying to buy a stake in Uber at a sizable discount to the company’s $69 billion valuation, seeking to clinch what would be one of the largest purchases of stock in a private company.
SoftBank and partners are offering to spend more than $6 billion for a stake that would value the ride-hailing company at $48 billion, or about 30 percent lower than the valuation it fetched in its most recent round of fundraising, according to Bloomberg sources.
Locking in the investment from Japan’s SoftBank has been a top priority for new Uber CEO Dara Khosrowshahi, who sees the deal as chance to close rifts and land a powerful new ally.
Facebook is using AI to spot suicidal tendencies in its users
Facebook is rolling out artificial intelligence technology to help it detect posts, videos, and Facebook live streams that contain suicidal thoughts.
The "proactive detection" technology is being deployed globally after a trial on text-based posts in the US, which was announced in March. However, there is one rather large exception: the European Union, where data privacy laws make it tricky.
Facebook said it is also improving how it identifies and contacts the appropriate first responders (police, fire, ambulance, etc) when it identifies someone at risk.
WeWork is continuing its buying spree with Meetup purchase
Co-working space giant WeWork will acquire Meetup, according to Crunchbase News.
The report says Meetup chief executive officer and co-founder Scott Heiferman shared the news with employees at a company-wide meeting on Monday.WeWork declined to comment on the report.
WeWork raised a massive $4.4 billion round from SoftBank Group and SoftBank Vision Fund this summer. The funding is fueling a shopping spree: over the past six months, WeWork has made four acquisitions including Singaporean co-working space startup Spacemob and coding bootcamp Flatiron School.
Founded in 2002, Meetup was an online pioneer when it launched to help groups of people organize offline gatherings based on shared interests. Since then, it’s come up against formidable competition from social media, especially Facebook groups.
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