Tuesday, November 14, 2017

Amazon agrees to sell its cloud business in China for $300 million

Amazon agrees to sell its cloud business in China for $300 million

Jeff BezosAmazon CEO Jeff BezosDavid Ryder/Getty
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  • Amazon has agreed to sell its China web services business to Beijing Sinnet Technology Co. for $300 million.
  • Beijing Sinnet began operating the services in August 2016.


(Reuters) - Amazon.com Inc's Chinese partner, Beijing Sinnet Technology Co., said it would purchase Amazon's Chinese web services business for up to 2 billion yuan ($301 million), ending the U.S. firms's cloud-computing business in the country.
Sinnet, which began operating the Amazon services in August 2016, said in a filing late on Monday the pending purchase would help the unit "comply with local laws and regulations and further improve service quality and security."
Amazon did not immediately respond to a request for comment on Tuesday morning.
Chinese regulators are tightening rules on foreign data and cloud services, including new surveillance measures and increased scrutiny of cross-border data transfers.
In August Sinnet told customers it would begin shutting down VPNs and other services on its networks that allow users to circumvent China's Great Firewall, citing direct instructions from the government.
The changes are linked to new national cyber laws that came into effect in 2017, which make network providers liable for content deemed dangerous or offensive to "socialist values".
In 2013 Amazon's web services business signed agreements with provincial governments in China, and has previously worked with some of China's largest tech firms including Xiaomi Inc, Qihoo 360 Technology Co Ltd and Kingsoft Corp Ltd.
Cloud services have become a crowded and competitive field in China in recent years, with Alibaba Group Holding Ltd's cloud unit opening over a dozen overseas data centres since 2016. ($1 = 6.6400 Chinese yuan renminbi) (Reporting by Cate Cadell; Editing by Stephen Coates)

Monday, November 13, 2017

Meet 9 of tech's newest billionaires

Meet 9 of tech's newest billionaires

Patrick collison, john collison, stripe, sv100 2015Patrick, left, and John Collison, the co-founders of Stripe.Stripe
You've almost certainly heard of Mark Zuckerberg, Jeff Bezos, and Elon Musk. 
But have you heard of Patrick Collison, David Zalik, or Lucy Peng?
As I'm sure you know, the first group of men were startup founders who went on to become tech billionaires. What you may not know is the second group of people have also joined the tech billionaires club.
We're taking a look at some of that club's new members. To compile this list, we pulled from Forbes wealth rankings and the Bloomberg Billionaires index. To narrow it down, we limited it to people who have made the bulk of their wealth in the past three years.
Combined, these nine men and women have a net worth in the trillions of dollars, come from different countries and continents, and have companies in a range of tech industry sectors. Here are nine of the newest tech billionaires: 

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Rishi Shah, CEO of Outcome Health

Age: 31
Net worth: $3.6 billion 
Company: Health technology firm Outcome Health
Position: CEO, Founder 
The son of a doctor, Shah dropped out of Northwestern to launch Outcome Health with Shradha Agarwal, now the company's president. Outcome Health sells tablets and large touchscreen devices to doctor's offices and other healthcare providers and provides software for them that's designed to help them communicate with patients about health conditions, treatments, and other matters. The devices can also display advertising. 
Outcome Health was valued at $5.6 billion in May 2017. Shah owns 80% of the company.
Source: Forbes

Frank Wang, CEO of DJI Technology

Age: 37
Net Worth: $3.2 Billion 
Company: Chinese drone maker DJI Technology 
Position: Founder, CEO 
Wang's company, DJI Technology, has been selling drones since before they were cool. Now, though, they're big business. Between 2016 and 2020, the total amount spent on the robotic aircraft will total $100 billion, Goldman Sachs has estimated. DJI's sales accounted for some 70% of the consumer and commercial portions of the drone market last year, according to Goldman Sachs. 
Wang started DJI in 2006 out of his dorm room at Hong Kong University of Science and Technology, and his company was one of the first to market a ready-to-fly drone that actually flew. He's been riding the industry's wave ever since and became Asia's youngest tech billionaire in 2017.
Sources: ForbesReuters, and Mashable 

Jan Koum, CEO of WhatsApp

Age: 41
Net Worth: $9.7 billion 
Company: Messaging app developer WhatsApp 
Position: CEO, Cofounder
Koum moved from Ukraine to Mountain View, California, with his mother when he was 16 and  taught himself computer technology in high school. He grew up poor, living off food stamps, before landing a job as an engineer at Yahoo. After leaving Yahoo and spending time in South America, he applied for a job at Facebook but was rejected.
Koum and his cofounder Brian Acton then launched WhatsApp. The app started as a service that allowed users to share their status updates with friends but soon morphed into the messaging service it is today. 
In 2014, WhatsApp caught the attention of Facebook CEO Mark Zuckerberg. Koum and Zuckerberg talked shop for two years before Facebook offered to buy WhatsApp in 2014 for $22 billion in cash and stock. As Facebook's stock value rose, so did Koum's net worth. 
Sources: Forbes and Business Insider

Brian Acton, Cofounder of WhatsApp

Brian Acton, Cofounder of WhatsApp
Reuters
Age: 45
Net worth: $6.7 billion 
Company: WhatsApp
Position: Cofounder (has since left)
Much of Acton's career has been lived out in tandem with Koum's. He worked alongside Koum at Yahoo then traveled with Koum in South America for a year after they left the internet giant. 
When they returned from South America, Acton applied and was rejected for a job at Facebook. He then cofounded WhatsApp with Koum and stayed on with him at the company after Facebook acquired it. 
But Acton just parted ways from Koum. He left Facebook and WhatsApp in September to start a non-profit that will be "at the intersection of nonprofit, technology, and communication," he wrote in a Facebook post.
Sources: Forbes and TechCrunch

Adam Neumann, CEO of WeWork

Adam Neumann, CEO of WeWork
Adam Neumann
Age: 38
Net Worth: $2.6 billion 
Company: Coworking space provider WeWork
Position: CEO, Cofounder
Neumann moved to the US from Israel in 2001 after serving as an officer in the Israeli military. He got the idea for what eventually became WeWork while running his previous business, a baby clothing company in Brooklyn.
He noticed that a nearby warehouse building was empty and convinced its owner to let him manage and rent out the space. That was the basis of coworking company GreenDesk. Neumann and cofounder Miguel McKelvey sold their stakes in GreenDesk in 2010 to found WeWork. 
Today, WeWork has offices in 40 cities across the country. It was recently valued at $21 billion after scoring a $3 billion investment from Softbank. 

David Zalik, CEO of GreenSky

David Zalik, CEO of GreenSky
GreenSky/Youtube
Age: 43
Net Worth: $2 billion 
Company: Financial technology provider GreenSky
Position: CEO, Cofounder 
Another Israel native, Zalik moved to Alabama with his family when he was four. He was a whiz kid, acing the SAT college entrance exam at 13. Instead of going to high school, he enrolled in Auburn University. 
Zalik left Auburn without graduating to pursue his first business, MicroTech, a computer assembly company. He sold MicroTech in 1996. After a few less-successful ventures, he started GreenSky, which helps home improvement contractors, healthcare providers, and other small businesses allow their customers to pay for their services on credit.
Capital One cofounder Nigel Morris invested an unknown seven-figure amount in GreenSky in 2014. That fall, venture investors, including TPG, bought a 17% stake in GreenSky at a $1.8 billion valuation. By 2016, when Fifth Third invested in the company, GreenSky's valuation had doubled.  
Source: Forbes

John and Patrick Collison, President and CEO of Stripe

John and Patrick Collison, President and CEO of Stripe
Stripe
Ages: John is 27, and Patrick is 29 
Net worth: $1.1 billion each 
Company: Online payment processor Stripe
Positions: John, President and Cofounder; Patrick, CEO and Cofounder
The Collison brothers grew up in a small village in central Ireland, teaching themselves to code at a young age and competing with each other. Patrick graduated from secondary school at 16 and then enrolled at MIT. John followed him to the US a few years later, enrolling at Harvard. They both dropped out of college in 2009 to head to Silicon Valley to start what would become Stripe.
Today Stripe counts Lyft, Best Buy, and Google as customers. In November 2016, the company raised $150 million at a $9.2 billion valuation, making the Collison brother instant billionaires.
Sources: ForbesBloomberg

Lucy Peng, Executive Chair of Ant Financial

Age: 44
Net worth: $1.14 billion 
Company: Mobile payments provider Ant Financial
Position: Executive chair
Peng was one of Alibaba's 18 cofounders and held numerous positions at the company, including CEO of AliPay, its mobile payments service. When Alibaba spun off AliPay, which eventually became Ant Financial, she remained as its head.
Ant was recently valued at $74.5 billion, and Peng now serves as its Executive Chair. She first cracked the Forbes billionaire list in March 2017.
Sources: Forbes, Fortune

Satoshi Nakamoto, Creator of bitcoin

Satoshi Nakamoto, Creator of bitcoin
Age: Unknown
Net worth: Unknown
Company: Unknown
Position: Unknown
Nakamoto is likely the pseudonym of the mysterious creator (or creators) of Bitcoin. There's been a lot of speculation about Nakamoto's actual identity, but nothing has ever been confirmed.
In 2013, bitcoin developer Sergio Lerner estimated that Nakamoto owned nearly $1 million worth of bitcoin. With bitcoin's price having risen exponentially since then, Nakamoto could have a fortune in the millions or billions of dollars.
Get the latest Alibaba stock price here.

10 must-have travel tech accessories

10 must-have travel tech accessories

The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.
Ralph Waldo Emerson once said, "Life is a journey, not a destination." Yeah, well he never had to take a 10-hour flight in coach.
Vacations are fun (hopefully), but getting to the destination and losing out on some of the creature comforts of home is kind of a drag. Then you have to try to keep yourself entertained, hope your bag doesn't get lost, and make sure you don't fry your favorite gadget when traveling overseas.
The accessories on this list will help you out on all those fronts. They'll also help you drown out travel noise, keep your devices nice and charged, and help your phone survive a dunk in the water.

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A high-capacity external battery

External battery chargers have become popular, but because they get bigger in size along with how much power they provide, many folks only have a small one. Do yourself a favor and invest in a slightly larger, but way-higher-capacity battery like this one from Anker. It weighs less than a pound, but has the ability to charge an iPhone 6 seven times. There's nothing worse than thinking you have enough power to get you through a trip, but getting stuck with a nasty layover or missed connection. Plus, this one has two USB ports, so you can help out a friend if you're traveling together.

Anker PowerCore 20100 Portable Charger, $39.99, available at Amazon

A power converter

A power converter
Amazon
Don't fry your electronics when you go overseas. This is coming from a well-seasoned traveler who still managed to slip up last summer. It's a little heavy-duty looking, but if you're going abroad for a significant amount of time, it's well worth investing in a power converter like this one from BESTEK.
In addition to its three outlets, this power converter has 4 USB ports, so you don't have to take up any outlets when you need to charge your phone or tablet. If you're picking one of these up you'll be all set for travel to Europe, the US, UK, or Australia. 

BESTEK International Travel Voltage Converter, $39.99, available at Amazon



A waterproof Bluetooth speaker

A waterproof Bluetooth speaker
JBL
If you're going on a beach vacation, it's a good idea to bring a waterproof Bluetooth speaker along. You can listen to your favorite tunes without worrying about it getting destroyed if a big wave comes or it gets left in the rain. 
Out of all the durable options I've tested, JBL's Flip 4 has survived my most aggressive water test yet: 10 minutes of full submersion. It's also small enough to fit in a carry-on bag in transit, and a beach bag when it's time to hang out by the water.

JBL Flip 4, $87.99, available at Amazon

A streaming stick

If a hotel room is going to be your home-away-from-home for a week or two and you want to kick back and watch YouTube videos after a day of seeing the sights, Roku is your friend. Their latest streaming stick got our recommendation recently for good reason. Performance is pretty consistent, and any lag was app dependent, not system wide. Video output is limited to 1080P, but unless you're staying an a very tech-forward hotel, you're probably not going to have a 4K TV in your room. Best of all, the Roku doesn't take up too much space, and can be powered by a TV's USB port.

Roku Streaming Stick (3600R), $36, available at Amazon

A selfie stick

For better or worse, selfie sticks have become a constant companion for many travelers. I'm recommending this one by Fugetek because people seem to like that it pairs with your phone via Bluetooth. Once paired, you can snap a shot or zoom in or out through the buttons on the stick's base. This model extends out up to 49" and is compatible with both iOS and Android smartphones, GoPros, and digital cameras. Reviewers on Amazon are generally happy with this device's overall design and build quality, although one lamented the fact that it wasn't strong enough to hold their DSLR despite Fugetek's claims.

Fugetek Professional High End Selfie Stick, $18.95, available at Amazon

A battery case

If you're traveling and don't feel like carrying around an external battery, it might be a good idea to pick up a battery case for your phone. Like I've said before, nothing is worse when traveling than having your phone die on you.

Anker's slim profile batter case adds an additional 120% of battery life to your iPhone 6, while adding less than a quarter inch of depth. The case is charged by MicroUSB, and charges your phone simultaneously if they're attached. Most reviewers on Amazon praised the case's profile and charging performance. There were a handful whose cases didn't charge properly, but all Anker products carry an 18 month warranty, so swapping it out shouldn't be a hassle.

Anker PowerCore Battery Case for iPhone 7, $33.99, available at Amazon

A waterproof phone case

If you're going to be around a lot of pools and beaches on your next trip, it's important to make sure you've got a case on your phone that can stand getting wet. We're going to continue to recommend the Lifeproof Fre as the best waterproof phone case option. It has a small profile and works as advertised: If your phone takes a dunk while in this case, you won't have to run for the rice. If you like the idea of having more waterproof tech, don't worry, we've got you covered.

Lifeproof FRE Waterproof Case for iPhone 6/6s, $36.02, available at Amazon

Lifeproof FRE Series Waterproof Case, $34.98, available at Amazon [iPhone 6/s Plus]

Noise-cancelling headphones

Engine noise, children screaming, and chatty row mates are all part of the modern traveling experience. Tuning them out can be the difference between arriving at your destination well rested or very aggravated, which is where noise-cancelling headphones come into play. 
I've tested Sony's H.ear pair before, and it performs well — especially at its current price. The noise cancelling is powerful, and if you listen to music with that setting on, you probably won't hear anything else.

Sony H.ear Bluetooth Headphones, $229.99, available at Amazon

A luggage tracker

If you've ever lost a bag while traveling, you know how tedious and nerve-racking it is trying to get it back. Plus there's the thought that it might never be found and your stuff will just end up in a between-airport limbo. Trakdot wants to eliminate that frustration with its palm-sized luggage tracker.
The tracker has a GSM chip inside of it so you can be kept up to date on its newest destination (hopefully you're at the same one.) When its within 30 feet of you, the Trakdot will send your iOS or Android phone an alert. Reviews of the product seem positive, but there's one catch: there's an annual, biannual, or lifetime subscription fee. That makes sense because the GSM chip in the Trakdot is performing the same task as it would in a cell phone, but it's still something to consider.

Trakdot Luggage Tracker, $39.99, available at Amazon

A Kindle

A Kindle
Amazon
If you're an avid reader and traveler, you owe it to yourself to pick up a Kindle. Nothing will ever replace a paperback or hardcover book, but the sheer convenience of being able to carry hundreds of books at a time is undeniable. If you're going to give the Kindle a shot, I recommend going for the Paperwhite. It's a step up from the standard Kindle, but it has a higher-resolution screen that has backlights built in. This makes it easier on your eyes, and eliminates the need to use those all-too-bright overhead lights on the plane.

Amazon Kindle Paperwhite E-reader, $119.99, available at Amazon

This article was originally published on 6/9/2016. 
Disclosure: This post is brought to you by Business Insider's Insider Picks team. We aim to highlight products and services you might find interesting, and if you buy them, we get a small share of the revenue from the sale from our commerce partners, including Amazon. Jeff Bezos, CEO of Amazon, is an investor in Business Insider through his personal investment company Bezos Expeditions. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Have something you think we should know about? Email us at insiderpicks@businessinsider.com.
Read the original article on Insider Picks. Copyright 2017. Follow Insider Picks on Twitter.

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