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).
TikTok is planning to fight back against the Trump administration's ban on the company with a lawsuit. The social media platform is suing for unsubstantiated claims that the app is a security threat. Howard YU discusses ByteDance's --TikTok's parent company -- presence in China and the government's ability to request data.
Tesla will split its stock for the first time in its history so more investors can afford to buy a stake in the electric car pioneer following a meteoric rise in its market value.
CuriosityStream CEO, Clint Stinchcomb, talks about the company's plan to go public as it expands its global reach and also explains what sets his platform apart from others.
E-commerce company Mercari makes selling products online easier. US CEO, John Lagerling talks competing with services like E-Bay and highlighting the everyday person looking to make money through the platform.
The coronavirus pandemic has accelerated the need to level the 'educational playing' field when it comes to quality internet access as more students learn from home. LEGO Education president, Eseben Staerk, talks closing the 'digital divide' through a partnership with leaders in tech and education.
New York City's MTA is reaching out to Apple in hopes that a new facial recognition update can be released as the agency encourages riders to keep masks on while riding public transportation. The ask comes as ridership on buses and subways in the city ticks up .
Tony Petitti is leaving Major League Baseball after 12 years to become president of sports and entertainment for the video game and esports company Activision Blizzard Inc.
TikTok's global chief information and security officer, Roland Cloutier, dismisses claims that the app is a security threat and provides user information to China.
Wall Street’s big rally let off the accelerator on Friday, despite a better-than-expected report on the U.S. job market, amid worries about worsening U.S.-China tensions and whether Washington can deliver more aid for the economy.
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.
