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).
Nokia says it has been tapped by NASA to build the first cellular communications network on the moon.
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.
Solar tracking company, Array Technologies, has made its trading debut. Jim Fusaro, Array Technologies CEO, joined Cheddar to discuss the discuss why it was time to take the company public.
On the heels of the latest Apple Event, Verizon launches nationwide 5G service. Ronan Dunne, Verizon Consumer Group CEO, joined Cheddar to discuss the launch and offerings that customers can expect from the service.
Online used car dealer, Shift, is set to go public through a SPAC. George Arison, Shift co-CEO, joined Cheddar to discuss its future and the unforeseen rise of car purchases amid the coronavirus pandemic.
Apple unveiled four new iPhones equipped with technology for use with faster new 5G wireless networks.
Disney is reorganizing its business units to focus even more on streaming. Its Disney Plus, Hulu and ESPN Plus services have more than 100 million subscribers.
Facebook says it is banning posts that deny or distort the Holocaust and will start directing people to authoritative sources if they search for information about the Nazi genocide.
U.S. Rep. Ken Buck (R-Colo.) joined Cheddar to discuss how Congress and the judiciary should approach big tech monopolies. Buck was clear that the Democrats and Republicans, however, disagree on just how to go about shrinking the tech giants.
Brian Elliott, Slack VP and head of Future Forum, joined Cheddar to discuss the findings of a survey that finds people adapting to remote work amid the pandemic and probably beyond.
