Speaking at the 2021 Mobile World Congress, the SpaceX CEO said his satellite-internet project would provide coverage “everywhere except the poles” by August. He added that it will grow from about 70,000 users in 12 countries, to serving a few hundred thousand users within 12 months. (The Logic, CNET)
The District of Columbia federal court dismissed the agency’s complaint on Monday. The FTC filed suit against Facebook in December, alleging the firm had “engaged in a systematic strategy … to eliminate threats to its monopoly,” including by buying Instagram and WhatsApp. (The Logic)
The U.K.’s Financial Conduct Authority has ordered the world’s largest cryptocurrency exchange by volume to cease regulated activities in the country, issuing a consumer warning about the firm, which is reportedly registered in the Cayman Islands. (Financial Times, The Logic)
The pension-fund manager will collect about $800 million in net proceeds from selling its holding in the commercial real estate development firm. (The Logic)
The Silicon Valley venture capital firm said in a statement that it was impressed by the execution and “privacy-friendly” marketing platform made by St. John’s-based Metricsflow. CEO Isaac Adejuwon would not disclose the funding amount, but said it was “way more” than the US$320,000 listed by PitchBook. (The Logic)
Left Lane Capital led the US$50-million round in the California-based company, which provides the backbone for Shopify merchants to build mobile apps. To date, Tapcart has raised just over US$65 million, according to PitchBook. (The Logic)
The company said the 600,000-square-foot warehouse in Parkland County will be its first in the province to use its robotics technology and should open in 2022. (The Logic)
The San Francisco company said its local ride-hailing and food-delivery businesses will formally be based in Canada, not the Netherlands, from July 1, requiring it to remit sales tax to the government. (The Logic)
Its Toronto-listed shares dropped nearly five per cent after the company’s latest quarterly results showed revenue fell to US$174 million from US$206 million in the same period last year. But the company’s loss narrowed to US$62 million, down from $636 million in the year-ago period. (The Logic)
The Competition and Markets Authority (CMA) said the probe follows concerns the two tech giants weren’t doing enough to curb fake reviews on their sites following an initial investigation in May 2020. (The Logic)