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Why SoftBank invested $2.25 billion in Cruise

June 1, 2018 Alex 0

Earlier today, General Motors’ Cruise received a $2.25 billion investment from SoftBank’s Vision Fund. Once that deal closes, GM will invest another $1.1 billion.

SoftBank landed on Cruise because it’s one of “a handful that in our view have a meaningful opportunity in front of them,” SoftBank Vision Fund Managing Partner Michael Ronen told TechCrunch. Cruise’s integrated play of hardware and software attracted SoftBank, Ronen said, as well as the fact that Cruise’s spirit, creativity and energy “has not been diminished at all.”

These investments are expected to enable Cruise to deploy commercially starting next year. But what’s most important about this investment to Cruise CEO Kyle Vogt, he told TechCrunch, is the fact that Cruise — which sold to GM for more than $1 billion in 2016 — now has stock and equity in the company again.

That’s because “we’re in a war right now to attract the greatest minds in the world to work on this,” Vogt told me. And in order to keep those great mind..

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Ticketfly’s website is offline after a hacker got into its homepage and database

June 1, 2018 Alex 0

Following what it calls a “cyber incident,” the event ticket distributor Ticketfly took its homepage offline on Thursday morning. The company left this message on its website, which remains nonfunctional hours later:

Following a series of recent issues with Ticketfly properties, we’ve determined that Ticketfly has been the target of a cyber incident. Out of an abundance of caution, we have taken all Ticketfly systems temporarily offline as we continue to look into the issue. We are working to bring our systems back online as soon as possible. Please check back later.

For information on specific events please check the social media accounts of the presenting venues/promoters to learn more about availability/status of upcoming shows. In many cases, shows are still happening and tickets may be available at the door.

Before Ticketfly regained control of its site, a hacker calling themselves IsHaKdZ hijacked it to display apparent database files along with a Guy Fawkes mask and an email ..