Category: Tech

TikTok reportedly working on it own smartphone

Financial Times has reported that Bytedance, TikTok’s parent company, is planning to develop its own smartphone to increase user acquisition channel via pre-installed smartphone application. TechCrunch reports that there seems to be an urgency from Bytedance to find more user acquisition channels as the company has failed to hit its revenue target last year amid slowing ad spending in China.

Elon Musk’s SpaceX raised over $1 bn in six months

Entrepreneur Elon Musk’s SpaceX has raised more than $1 billion in financing in the last 6 months as it aims to roll out an ambitious high-speed internet service via satellites. The company raised $486.2 million in December and $535.7m in April, and launched its first batch of 60 small satellites into low-Earth orbit for Musk’s new Starlink internet service.