Facebook has already begun digging into the TV space with Facebook Watch, so what might the social media company’s next move in video be?
Jesse Redniss, Chief Innovation Officer of Turner’s TBS and TNT networks, predicts the company might buy Roku.
“Facebook has been trying to be getting into the video space for quite sometime now,” he told Cheddar in a recent interview. “When you look at Facebook’s track record of growth, the acquisition of Insta, WhatsApp, Oculus. In some ways, in order for them to really scale into a marketplace, it’ll make a lot of sense for them to buy one of the leaders in a marketplace they want to get into.”
Roku shares fell steeply Friday after Goldman Sachs downgraded the stock, saying the streaming company is overvalued. Still, the company is trading well above its IPO price, and posted a 48 percent increase in active accounts in the third quarter, as well as a 58 percent increase in streaming hours.
For full interview [click here](https://cheddar.com/videos/a-bold-prediction-on-why-facebook-would-acquire-roku).
Instagram has launched a feature that urges teenagers to take breaks from the photo-sharing platform and announced other tools aimed at protecting young users from harmful content on the Facebook-owned service.
Refinery29 has launched their new gaming series, ‘GG,’ which features leading women and non-binary gamers through the lens of identity, entrepreneurship, wellbeing, community, self-expression, and personal beauty. Melissah Yang, entertainment director at Refinery29 joins Cheddar News to discuss the launch and how 'GG' is changing the game.
Hawaii Flooding, Beijing Boycott & Disrupting Death
New York City has become a testing ground for super-fast grocery delivery services like Gorillas, offering instant gratification in the 10 to 15 minutes.
Mercedes-Benz is bringing its first all-electric luxury vehicle brand, EQS, to the United States. Cheddar's Chloe Aiello takes a spin and reports.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
A month after Facebook changed its name to Meta, Square Inc. is changing its name to Block.
President Nayib Bukele announced last week that the Central American country plans to issue the world's first "Bitcoin bond" early next year.
Twitter says co-founder Jack Dorsey will step down as CEO of the social media platform.
The Treasury Department pushed for the requirement to help close the tax gap in the crypto industry by forcing better IRS reporting, but legislators on both sides of the aisle argue that the language is too broad and could curb innovation in the space.
