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 worst data breach in Facebook's history was likely done by spammers, not a foreign state, according to a report. Whether that's any comfort to the tens of millions of people whose personal information ー including names, emails, religious affiliations, and locations ー was accessed in the wide-ranging attack remains to be seen.
Michael Pachter, managing director of equity research at Wedbush Securities, isn't buying into the Netflix hype even after the good Q3 earnings.
Discord, initially a popular app for in-game messaging, is launching a store with hundreds of games users can access for a monthly fee. Jason Citron, co-founder and CEO of Discord, said the company's growth is a "side effect" of gaming becoming more social.
MedMen, which just completed the largest pot-related acquisition to date in America, is preparing for the day when American drug laws catch up, said spokesman Daniel Yi.
Atari, the popular French gaming company, is now open to investments from U.S. investors through its new affiliation with with Nasdaq International. Frederic Chesnais, CEO of Atari, told Cheddar about the partnership.
Loren Padelford, Shopify vice president and general manager, had spent Wednesday morning monitoring the cannabis transactions taking place on Canadian Shopify-powered sites and said the demand was outpacing even his company's bullish forecasts.
Canada legalized recreational marijuana use on Wednesday, making it the second country to do so. Netflix stock is surging after the streaming giant added a record number of subscribers in the third quarter. Plus, Anthony Atamanuik and Adam Pally from Comedy Central's 'The President Show' join Cheddar to talk about their new special 'The Fall Of Donald Trump.'
Auction house Christie's will put up its first-ever painting created entirely by artificial intelligence. Lindsay Griffith, a specialist at Christie's, said the painting is likely to fetch as much as $10,000.
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Alexis Ohanian, co-founder of Reddit and venture capital firm Initialized Capital, has partnered with 1850 Brand Coffee for the "Bold Pioneer" content where people pitch their ideas to win $18,500 to jump-start their business plan. Ohanian said he's looking for entrepreneurs who are thinking outside the box and making investors "a little uncomfortable."
