Business Name Generator News Digest October 7, 2022

Elon Musk Is Buying Twitter Again

After announcing the purchase of Twitter, then backing off, Elon Musk is apparently again buying the social media giant.

Elon musk buying Twitter again

Elon Musk proposed to buy Twitter for $44 billion at the beginning of the year. He later wanted to back out of the deal after claiming that more than 5% of users on the platform are fake accounts. 

Musk claimed that up to 20% of accounts are fake, while Twitter stated that only 5% of the users are fake accounts. 

It seems that Musk is again settled on finalizing the Twitter deal. Since the news hit the public, Twitter shares have increased by 16%. 

Musk tweeted that 

“Buying Twitter is an accelerant to creating X, the everything app.” 

He also added that the Twitter purchase accelerates X by 3 to 5 years. This is interesting since he owns X.com. It remains to see what Elon’s plans are with this domain. 

The change of heart for Twitter doesn’t come as a surprise. Many analysts believe that he wanted to back off the deal because of the souring economy. The number of bots came as a handy excuse. 

Musk purchased Twitter at $54.20 per share, which later dropped to about $36 in July. It’s currently trading just shy of $50 per share. Things don’t look as bad for Musk as they did a couple of months ago. 

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Solar Panel Recycling Startup Announced New Partnership

Older solar panels are turning into harmful waste as new panels hit the market. One startup is turning old solar panels into valuable materials.

solar panel recycling

SolarCycle is a California-based startup that recycles old solar panels and sells the materials and components for profit. 

The company extracts around 95% of materials from solar panels. The materials include silver, silicon, copper, and aluminum. These get repurposed for new solar panels or returned to the supply chain and used for other products. 

Suvi Sharma, SolarClycle CEO, explains.

“Initially we are extracting the materials and then selling those back to other suppliers that will use them for new products, but long term, we are focused on doing research and development on making new panels from these old panels.” 

There’s very little competition in the solar recycling industry. We will probably see new companies in the recycling market as the solar industry grows. Old panels quickly get outdated with rapid innovation. 

Recycling is both cost-effective and potentially highly profitable. Some research shows that recyclable materials from solar panels could be worth more than $2.7 billion by 2030 in the US alone. 

SolarCycle is projected to grow from zero to $100 in revenue in the next few years, thanks to the partnership with Sunrun

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A Cybersecurity Startup Helps Engineering Teams Deploy Better Products

IriusRisk is a Spain-based startup that helps companies improve their security by identifying potential threats in software and system design. 

Threat modeling is still often done manually by security teams that give feedback to engineering teams. This back-and-forth process is complicated and takes a lot of time. Because of that, companies don’t apply threat modeling to their app design process. 

IriusRisk platform is innovative as it allows engineering teams to perform threat modeling by themselves. The automated feedback from the platform helps companies apply threat modeling to all their systems. 

The startup raised a $28.7 million series B round. The funds will be used to expand the teams. 

This AI Acts As Your Personal Assistant For Repetitive Tasks

Xembly is a Seattle-based startup that created an AI-powered “chief of staff” that automates tasks like taking meeting notes, scheduling, to-do lists, and more. 

The startup is built around a conversational AI that uses natural language processing to understand the intention behind workplace communication. It gets the information from emails, Slack, and meetings. 

Xembly acts as your personal assistant. It was designed to remove repetitive and mundane tasks from jobs. 

The startup just raised $15 million in new funding. The funds will be used to improve language processing and AI capabilities. 

Do you see yourself ever using an AI virtual assistant? 

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You Can Now Post Images, Videos, And GIFs In A Single Tweet

This is the second news coming from Twitter this week. 

A new Twitter feature lets users post images, videos, and GIFs in a single tweet. Up until now, users were only allowed to include one type of media in a single tweet. 

Twitter made the announcement in a blog post.

“We’re always looking for new and exciting ways to help creators share more and be seen. Mixing different types of visual content together in a single Tweet allows creators to express themselves beyond 280 characters and gives them more ways to tell their story.” 

We’ve seen a lot of new features on the platform recently. 

An Unprofitable UK Metaverse Startup Raises $100 Million

Improbable is a UK-based metaverse startup founded in 2012. The company develops metaverse infrastructure that’s used by businesses and game developers that want to create their own virtual worlds. 

Both UK and US militaries use Improbable’s technology for training purposes. 

The startup just raised another $100 million in funding at a valuation of more than $3 billion. 

What’s surprising is that the company is yet to become profitable. They officially recorded losses of $144 million and $170 million in the last two years. 

The latest round shows how much demand there is for innovative metaverse startups, even if these fail to show proof of market fit. 

Author

Matija

Matija

Amazing content is the core of what we do. With more than 5 years of experience in branding, name development, and business, Matija helps create and manage content production.

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