Japanese telecom giant SoftBank Group has invested in two U.S. companies, a map software startup and an artificial intelligence startup, the two American companies said on Tuesday.
Mapbox, based in San Francisco, said it has received an investment worth $164 million from a group of investors, including SoftBank Vision Fund, set up jointly with the government of Saudi Arabia among others, and several venture capitals. The investment will be used in three areas: autonomous driving, augmented reality, and virtual reality technologies for games and expansion into China, Southeast Asia and Europe.
Pittsburgh-based Petuum, which specializes in machine learning, said it has received $93 million from SoftBank and others. The startup hopes to spread machine learning technology, currently employed by only a handful of big information technology companies, to other businesses.
TechCrunch has learned that the Instagram longer-form video hub that’s launching tomorrow is called IGTV and it will be part of the Explore tab, according to multiple sources. Instagram has spent the week meeting with online content creators to encourage them to prepare videos closer to 10-minute YouTube vlogs than the 1-minute maximum videos the app […]