The Internet's most popular online community, Reddit, is currently spiraling out of control. After the recent firing of Victoria Taylor, one of its most prominent employees who was responsible for favorable website features, many different subreddit (sections of the site) managers have disabled user access to popular content. These actions represent an online protest meant to drastically reduce website traffic.
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Uber Beats Facebook To $50B Valuation
In the world of venture capitalism, funding comparisons are often drawn between startups and more “mature," publically traded companies. Interestingly enough, in one of the most prevalent comparisons, Facebook (FB), which is possibly the most controversial startup to date, now represents the standard for “old” tech companies.
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The Billionaire Space Race
Many CEOs are known for exhibiting their million-dollar lifestyles; opulent car collections comprised of Lamborghinis, Ferraris, and Bentleys are common, whereas private Gulfstream jets are a bit more rare. However, while millionaires indulge themselves with these toys, billionaires have embraced an entirely new obsession.
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The Battle For Ride-Sharing Supremacy
The battle of relevant ride-sharing companies has dwindled down to two fierce rivals: Uber and Lyft. These two companies have gained notoriety for their revolutionary transportation services and record valuations. As of now, Uber clearly maintains a larger market share than lyft; moreover, its $50 billion valuation has tied Facebook’s (FB) previous record as the most expensive private company to date.
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Uber Valuation To Surpass Facebook
The popular ride-sharing application Uber is looking to raise another $2 billion in private funding. According to reports, this would value the startup at $50 billion. If Uber can obtain these funds, it would make Uber the highest-valued private startup of all time. The only other privately owned startup to achieve such a high valuation before issuing an IPO was Facebook (FB), and it is now valued at $226 billion.
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