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).
Max Simkoff, CEO and founder of States Title talked to Cheddar about the acceleration of digital dealmaking in the mortgage industry, which had been slow to adopt measures before the pandemic.
Wall Street’s rally ran out of fuel in the last hour of trading on Thursday, and the market fell to its first loss in four days amid worries about rising U.S.-China tensions.
President Donald Trump is escalating his war on social media companies, preparing to sign an executive order Thursday challenging the liability protections that have served as a bedrock for unfettered speech on the internet.
Priority Bicycles Founder
Phil Ginsburg, Abbott's Head of Infectious Disease, told Cheddar that new data shows the ID Now quick-results test for coronavirus is accurate if used as intended.
The launch of a SpaceX rocket ship with two NASA astronauts on a history-making flight into orbit has been called off with 16 minutes to go in the countdown because of the danger of lightning.
NASA is rolling out the International Space Station's red carpet for Tom Cruise.
President Donald Trump is threatening social media companies with new regulation or even closure after Twitter added fact checks to two of his tweets.
Forecasters say the odds of acceptable conditions have improved to 60% for Wednesday's planned launch of a SpaceX Falcon rocket with two NASA astronauts.
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.
