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).
The world’s biggest telecom equipment provider is now seeing more growth from its consumer handset business.
The president took to Twitter last Friday and unleashed a furious series of attacks at GM and its chairman and CEO, Mary Barra, leaving company executives, officials inside the White House, and employees at a nonprofit who had helped broker the partnership between GM and Ventec flabbergasted.
California Rep. Ami Bera wants to see more federal control over things like purchasing and stockpiling medical supplies to meet the needs of the coronavirus pandemic.
Stocks are pushing higher on Wall Street, led by big gains for health care companies announcing developments that could aid in the coronavirus outbreak.
Dr. Christopher Wiles, a resident physician at the University of Connecticut, is turning his hobby into a potential way to offset a shortage of personal protective equipment in hospitals dealing with COVID-19.
Trump said that the order will “require General Motors to accept, perform, and prioritize Federal contracts for ventilators." In a statement, he said the contracting process with the automaker was not moving quickly enough.
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.
Mark Zuckerberg and his wife Priscilla Chan have donated $25 million through their foundation to a philanthropic effort organized by Bill Gates to explore new coronavirus treatments.
Healthcare workers have launched their own campaigns for gathering personal protective equipment as they fight the coronavirus on the frontlines, with #GetUsPPE trending across social media.
The new feature, which is being rolled out in the hardest-hit areas this week, will appear on pages for businesses like restaurants, bars, beauty parlors, and gyms.
