HB Weekly Wrap: Google & Facebook Strike Deals In Emerging-Market Push

Uber, the most popular ride-hailing app, grabbed the headlines again this week, with The New York Times explaining how it deceived the authorities worldwide — but, arguably, the biggest event in tech-land was the IPO of Snap, which received a premium valuation on the stock market.

That, some argue, is a good reason to short it. The outcome of the Snap float didn’t surprise us at all in a word where, as Business Insider recently pointed out, “the price of one Bitcoin climbed above the price of one ounce of gold for the first time ever” earlier this week.

Elsewhere, Google and Facebook confirmed their ambitious plans in emerging markets.

The former said that it was “partnering with leading mobile network operators globally, including Bharti Airtel and SK Telecom, and building a platform for operators to run their network services,” while Facebook confirmed its decisive push in emerging markets, saying that it was “excited to announce our participation in an approximately 770km fiber build in northwest Uganda that, when completed, will provide backhaul connectivity covering more than 3 million people in Uganda and enable future cross-border connectivity to neighboring countries.”

It added: “We’re working with Airtel Uganda and Bandwidth & Cloud Services Group (BCS), a wholesale bandwidth provider focused on deploying infrastructure in East Africa.”

Finally, Softbank is on the verge of upping the ante with a $3bn investment in WeWork, while notable earnings came from Salesforce and JD.com.

Trending Tech: Google

Key highlight of the week:

Source: Google
Source: Google

Trending Tools: Facebook, Amazon, Wal-Mart, Uber…

Key highlight of the week:

Source: The New York Times
Source: The New York Times

Trending Finance: Softbank, Snap; Bitcoin, NBC…

Key highlight of the week:

Source: Business Insider
Source: Business Insider

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