Hello folks! 🙋We have the following updates for you today! 📣
- Apple becomes the first company to reach a $3 trillion market value.
- Top Fintech M&A acquired startup.
- Humane launched its first product.
Apple Reaches $3 Trillion Market Value
Apple has become the first company in the world to reach the mark of a $3 trillion market capitalization. The stock price has gained 46% this year, making it one of the best-performing companies across the trillion-dollar club.
The other companies on the list of trillion dollars Mcap are Alphabet, Microsoft, Amazon, and Nvidia. The performance of Apple in 2022 was subdued, and the market capitalization fell below $2 trillion.
Apple’s valuation has reached a new high after launching the Apple Vision Pro AR headset at $3,499 at WWDC. It will be available for purchase next year.
Top Fintech M&A Acquired Startup
#1. Ramp Acquires Customer Support Startup Cohere.io
Ramp is the finance automation company that has acquired Cohere.io(different from Cohere.com ), a startup specializing in AI-based customer support. Cohere received $3.1M in seed funding, led by Initialized Capital, and later secured an additional $400K in funding. Ramp is trusted by more than 15,000 businesses worldwide.
Cohere uses generative AI and LLMs to analyze customer support data, helping support teams handle inquiries in real time. Over 200 companies, including Ramp, Deel, Loom, and SecureFrame, benefit from Cohere’s platform for better support and customer experiences.
#2. Visa Acquires Brazilian Fintech Startup Pismo in $1B Blockbuster Deal
Visa acquires Brazilian payments startup Pismo for $1 billion, making it a significant fintech acquisition. Pismo has around 80 million active accounts and over 40 million issued cards. Pismo’s cloud platform handles 50 billion API calls and $40 billion in transactions annually.
Humane Launched Its First Product
Humane’s first product is the Ai Pin, a wearable gadget with AI-powered functionality and a projected display. Humane AI startup is launched by Ex-Apple employees. The company has onboarded many employees from Apple’s key positions.
Humane has successfully secured a total of $230 million in funding from its current and past investors, which notably includes Marc Benioff, the CEO of Salesforce.
According to the report, the AI Pin is an intelligent wearable device integrated into clothing. It utilizes an array of sensors to facilitate contextual and ambient compute interactions.
For more updates, check out the Latest Tech category.
