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Fitbit Shares Plunge 20.8%

The Fitbit BlazeFitbit, maker of wearable fitness devices, saw its shares drop 20.8% after reporting fourth-quarter earnings. Shares fell $3.44 on Tuesday to close at $13.08 per share near an all-time low.

Fitbit sold 8.2 million connected health and fitness devices in the fourth quarter which includes the holiday season. U.S. revenue in the quarter grew 100% from the previous year and made up 75% of fourth quarter revenue. The company sold a total of 21.4 million devices for all of 2015.

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Google Shutting Down Compare Service

Google plans to shut down its Google Compare service to find auto insurance, credit cards and mortgages according to The Wall Street Journal. The service was launched in 2015 and just wasn’t gaining enough transaction. Google Compare for credit cards listed dozens of credit cards from different banks along with their benefits, annual fees and […]

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LG Debuts G5 Modular Smartphone

335498LG Electronics (LG) has unveiled the new LG G5 smartphone, a brand new design with not only a sleek, metal uni-body featuring a Slide-out Battery but a Modular Type design. The LG G5 is equipped with the powerful yet energy-efficient Snapdragon 820 processor which offers advanced features such as 64-bit performance, Adreno 530 graphics and lower-power Qualcomm Hexagon DSP.

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Samsung Unveils Galaxy S7 Phone

Samsung Mobile President DJ Koh unveils the new Galaxy S7 and S7 Edge phones in Barcelona.Samsung Chairman DJ Koh unveils the new Galaxy S7 and S7 Edge phones in Barcelona.

Samsung Electronics has announced the newest additions to the Galaxy family of products—Samsung Galaxy S7 and Galaxy S7 edge. AT&T, Sprint, T-Mobile, U.S. Cellular and Verizon Wireless will carry the Samsung Galaxy S7 and Galaxy S7 edge in stores beginning March 11, with pre-orders starting at 5:00 a.m. PST on February 23.

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Vera Lands $17 Million Series B

PALO ALTO– Vera announced it has closed $17 million in Series B financing, led by Sutter Hill Ventures, with participation from existing investors Battery Ventures and Amplify Partners. Vera has raised over $31M in total funding to date. “Vera is bridging a critical security gap by changing the way enterprises think about securing their data and […]

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Uber Raises $200 Million from LetterOne Fund

uber
LetterOne (L1), a Luxembourg-based venture capital fund, has made a strategic investment of $200 million in ride-sharing service Uber.

Mikhail Fridman, Chairman of L1, said; “I’m excited by our strategic partnership with Uber. As entrepreneurs, with experience in retail, banking, telecoms and energy sectors, and knowledge of diverse developed and emerging markets, we believe that Uber’s highly talented management team possesses the necessary vision and skills to build the company into one of the world’s preeminent technology businesses”.