|Bid||0.00 x 1100|
|Ask||0.00 x 1800|
|Day's range||35.90 - 36.89|
|52-week range||20.00 - 45.86|
|Beta (5Y monthly)||0.79|
|PE ratio (TTM)||N/A|
|Earnings date||29 Oct 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||36.26|
In a regulatory filing, Twitter said it received a draft FTC complaint alleging violations between 2013 and 2019. Twitter said it estimates probable loss of between $150 million and $250 million in settlement charges, and has already recorded $150 million of that estimate in accrual related to the allegations.
(Bloomberg) -- President Donald Trump said TikTok will have to close in the U.S. by Sept. 15 -- unless there’s a deal to sell the social network’s domestic operations to Microsoft Corp. or another U.S. company.Trump also said the federal government will have to be paid a “substantial amount of money” as part of any deal.“I don’t mind whether it’s Microsoft or someone else, a big company, a secure company, a very American company buys it,” Trump told reporters at the White House on Monday. “It’ll close down on Sept. 15 unless Microsoft or somebody else is able to buy it and work out a deal, an appropriate deal, so the Treasury of the United States gets a lot of money.”Trump set off a furious scramble over the fate of the Chinese-owned app on Friday, when he said he would ban the company’s operations through an executive action on Saturday. But the weekend passed without any official move from the White House, after the president spoke with Microsoft Chief Executive Officer Satya Nadella about his company’s efforts to purchase the viral video application.Microsoft said in a blog post that it was aiming to complete a deal for TikTok’s operations in the U.S., as well as in Canada, Australia and New Zealand, no later than Sept. 15. The White House had insisted upon that deadline, according to people familiar with the matter. It could prove an uphill climb, with key details for the deal -- including price -- still not worked out, people familiar with the discussions said.Trump told reporters on Monday: “Whatever the price is that goes to whoever owns it -- because I guess it’s China, essentially, more than anything else -- I said a very substantial portion of that price is going to have to come into the treasury of the United States.”Trump questioned who would get rights to the company’s name if TikTok is owned by two different companies. “My personal opinion was they would be better off buying the whole thing rather than buying 30% of it,” Trump said. “I think buying 30% is complicated.”Security ConcernsThe White House has said it’s concerned that TikTok’s parent company, ByteDance Ltd., could be compelled to hand over American users’ data to Beijing or use the app to influence the 165 million Americans, and more than 2 billion users globally, who have downloaded it. And Trump has looked to ratchet up pressure on China ahead of November’s election, frustrated by slow implementation of the trade pact inked earlier this year and the spread of the coronavirus for which he blames China.Trump said Monday that TikTok “can’t be controlled for security reasons by China. Too big, too invasive, and it can’t be.”Teenagers opposed to Trump have also used the app to disrupt the president’s campaign activities, including signing up for tickets to his first rally since the beginning of the pandemic, in Tulsa. Attendance at the late June event was far below expectations, and Trump hasn’t held another rally since.Microsoft PledgeIn its blog post, Microsoft pledged to add more security, privacy and digital safety protections to the TikTok app and ensure that all private data of Americans be transferred back to the U.S. and deleted from servers outside the country. The company also said it may invite other American investors to take minority stakes in the company.“Microsoft fully appreciates the importance of addressing the President’s concerns,” the company said. “It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.”Still, U.S. lawmakers and administration officials have favored shutting down the application altogether to send a message to China after Beijing restricted American companies like Facebook Inc., Twitter Inc. and Alphabet Inc.’s Google. White House adviser Peter Navarro on Monday said in a pair of interviews with CNN and Fox News that he wasn’t sure Microsoft was the right company to buy TikTok’s U.S. operations, saying it had helped China construct its internet firewall.“Should we trust any company that operates in China?” Navarro told Fox News.(Updates with additional Trump comments starting in sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- DST Global, the investment firm headed by billionaire Yuri Milner, is close to investing as much as $400 million in Indian online education startup Byju’s, according to a person familiar with the negotiations.The deal values Byju’s at $10.5 billion and could be signed as early as this weekend, said the person, who didn’t want to be identified as the talks are private. The transaction would make Byju’s India’s second-most valuable startup after Alibaba Group Holding-backed financial payments brand, Paytm.The Russian-Israeli billionaire, one of the world’s best-known technology investors, is an early backer of the largest internet firms including Alibaba, Facebook Inc. and Twitter Inc. His DST has also funded a string of high-profile Indian startups such as online retailer Flipkart Online Services Pvt., ride-hailing startup Ola, food-delivery startup Swiggy and business e-commerce startup Udaan.DST and Byju’s didn’t immediately respond to emails seeking comments about the funding talks. Leonid Solovyev, a DST spokesman, declined to comment.Byju’s, whose investors include Facebook founder Mark Zuckerberg’s Chan Zuckerberg Initiative, Naspers Ltd. and Tiger Global Management, simplifies math and science concepts for K-12 students through games and videos. It was founded by Byju Raveendran, a former teacher and son of educators, who conceived the smartphone app in 2011. In a country that places a premium on education, he launched the app just as smartphones were becoming ubiquitous.The app caters to students from kindergarten through 12th grade and has over 57 million registered users and over 3.5 million paid subscribers. It’s adding over 300,000 new subscribers every month. Byju’s doubled revenues in the year ended March 2020 to 28 billion rupees ($373 million) from the previous financial year and is profitable, a rarity for Indian startups.India’s online education segment is on fire after the raging coronavirus pandemic and resulting lockdowns shuttered schools across the country, prompting a never-before migration to online learning. According to an estimate about 250 million school-going children in the country have been affected by pandemic-induced school closures. Even parents, teachers and schools skeptical of the online model have been forced to adopt digital learning tools that have prompted an unprecedented surge of users to online portals such as Byju’s run by Think & Learn Pvt.Byju’s has raised $400 million this year alone and was last funded by Bond Capital co-founded by Silicon Valley investment guru, Mary Meeker, formerly of Kleiner Perkins. Its rivals are gathering backers, too. Last month, online learning startup Vedantu raised $100 million from U.S.-based investor Coatue Management. Unacademy, another leading startup is said to be raising funds at a valuation of over $1 billion, which would make it the country’s second edtech unicorn.(Updated with DST comment.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.