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).
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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.
New York City has over 6,000 high rise buildings and for the last 75 years most of the skyscrapers built were constructed with glass facades. This trend has continued in cities across the world like London, Moscow, and Shanghai. But over the years, the drawbacks have become more prominent. They may look like elegant symbols of modernity, but beyond that shimmer is a list of problems that has some leaders proposing bans. All that beauty comes at a price.
Four Big Tech CEOs are fending off accusations of stifling competition in front of a congressional panel that is investigating market dominance in the industry.
A ride-sharing scooter startup said Tuesday it is suspending operations in New York City after a second fatal crash in less than two weeks.
