LA Tech Updates: GoodRx IPO?; Trump Gives Green Light for Microsoft to Acquire TikTok
- Reuters reports GoodRx is looking to go public
- If American company doesn't buy Tiktok by Sept. 15, Trump said "it will be out of business."
If U.S. Company Doesn't Buy Tiktok by Sept. 15, Trump Said "It Will be Out of Business."
TikTok got at least a temporary reprieve in the ongoing battle between the U.S. and Chinese governments over its fate.
President Donald Trump said Monday TikTok could be bought by an American company after threatening to ban it in the U.S. on Friday. The move opens the door to a Microsoft acquisition but if no deal is reached by September 15th, Trump said TikTok "will be out of business in the United States."
Trump also added a new wrinkle to the negotiations, saying that "a very substantial portion" of the purchase would have to go to the U.S. Treasury, "because we're making it possible for this deal to happen." It is not yet clear how that would work.
Trump's remarks follow a recent conversation with Microsoft chief executive Satya Nadella about his firm's intentions to potentially acquire the Chinese-owned company, Microsoft wrote in a blog post Sunday. The President stated he will hold off banning TikTok while Microsoft negotiates with its Chinese parent company, ByteDance.
According to Microsoft's statement, the two companies are exploring a proposal wherein the Seattle-based software behemoth would purchase and operate TikTok's operations in the U.S., Canada, Australia and New Zealand. The acquisition could also include participation from minority investors.
In its statement, Microsoft touted its ability to add "world-class security, privacy and digital safety protections" to TikTok, which could assuage the national security concerns of many U.S. government officials over the Chinese government's access to TikTok's data.
Specific security measures mentioned in Microsoft's statement include ensuring that TikTok's data on American users is transferred to and remains in the U.S., and that any American user data in servers outside the country is deleted.
Microsoft underscored that the discussions are preliminary. "We do not intend to provide further updates until there is a definitive outcome to our discussions," the statement said.
The two companies have given notice of their intent to pursue a deal to the U.S. Committee on Foreign Investment in the United States, which is already investigating whether ByteDance's 2018 acquisition of L.A.-based Musical.ly threatens national security.
Republican Senator Lindsey Graham called the discussions "a win-win in the making" while Senator Marco Rubio, who has been critical of TikTok, has said if the company and its data can be "purchased & secured by a trusted U.S. company that would be a positive & acceptable outcome."
GoodRx is Reportedly Looking to Go Publicshallow focus photography of prescription bottle with capsules Photo by Sharon McCutcheon on Unsplash
The prescription marketplace platform GoodRx Inc has filed with the U.S. Securities and Exchange Commission for a potential initial public offering, Reuters reported Sunday.
The Santa Monica-based company was valued at $2.8 billion in 2018 when private equity firm Silver Lake took a stake. Reuters reported the company is hiring IPO advisers and the listing could come later this year or early 2021.
Last year, the company purchased HeyDoctor, a telemedicine service that has expanded its care options.
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On this week's episode of the L.A. Venture podcast, Taj Eldridge talks about his newly-launched $250 million fund, Include Ventures aimed at Black and Brown founders and investors. The fund is part of VC Include, a platform that aims to accelerate investment into women, Black, Latinx, Indigenous and LGBTQ people.
"Some of the founders I talked to have said they don't want to get funding just because they're Black, said Taj. "And my thing is, well, I've seen the opposite side of it. I've seen not getting money because I'm Black. So, you know, right now, let's just move things forward."
Taj is passionate about reducing the wealth gap through Black and Brown ownership and continuing the work he does with Los Angeles Cleantech Incubator (LACI), where he's the senior director for investment.
"Don't invest in clean tech just because it is a moralistic issue or its future-proofing," he said. "As we've seen in what's happening in Texas now with the grid and everything else, It's a public health issue. It's an economic issue. It's a social issue."
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A 24-year-old unemployed college graduate frustrated by the tedious process of finding his grandmother a vaccine appointment created a new site to make it easier.
Find My Vax LA translates appointment information to any language, searches for open slots by zip code and on Friday released a Twitter bot that alerts followers of availability.
Andrew Friedman was hit with the same idea software engineers across the country have chased since public officials started distributing the COVID-19 shot.
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Fifteen years after her death, science-fiction author Octavia E. Butler has joined an exclusive pantheon of space luminaries memorialized on Mars.
Today NASA announced that the Red Planet locale where its Perseverance rover touched down last month is called Octavia E. Butler Landing, in honor of a Black author who emphasized diversity in tales of alternate realities and far-out futures.
"Butler's protagonists embody determination and inventiveness, making her a perfect fit for the Perseverance rover mission and its theme of overcoming challenges," Kathryn Stack Morgan, deputy project scientist for Perseverance, said in a news release. "Butler inspired and influenced the planetary science community and many beyond, including those typically under-represented in STEM fields."
Butler grew up poor in Pasadena and attended Pasadena City College, where she focused on writing. She published her first book in 1976 and broke into the mostly white, male dominated world of science fiction writing. In 1995, she was awarded a fellowship from the MacAurthur Foundation, She moved to the Seattle area in 1999, where she died unexpectedly in 2006 at the age of 58, after sustaining a head injury in a fall on a walkway outside her home in Lake Forest Park, Wash.
In his own tribute to Butler, Thomas Zurbuchen, NASA's associate administrator for space science, emphasized the connection to Southern California, the home of NASA's Jet Propulsion Laboratory and Perseverance mission operations.
Science-fiction author Octavia E. Butler grew up in Pasadena and spent the last years of her life in the Seattle area. (Writers House Literary Agency / Courtesy Ching-Ming Cheung)
"I can think of no better person to mark this historic landing site than Octavia E. Butler, who not only grew up next door to JPL in Pasadena, but she also inspired millions with her visions of a science-based future," Zurbuchen said. "Her guiding principle, 'When using science, do so accurately,' is what the science team at NASA is all about. Her work continues to inspire today's scientists and engineers across the globe – all in the name of a bolder, more equitable future for all."
The official names of geographical features on other planets must be approved by the International Astronomical Union, but NASA has a tradition of giving its own names to off-world landing sites – for example, Tranquility Base, the place on the moon where Apollo 11 touched down in 1969.
The 1997 landing site for NASA's Pathfinder mission to Mars is known as Carl Sagan Memorial Station, in honor of the late astronomer and author of "Contact."
In 2004, NASA designated the landing sites for the Opportunity and Spirit Mars rovers as Challenger Memorial Station and Columbia Memorial Station, respectively. Those names honor space shuttle crews who lost their lives in 1986 and 2003.
The place where NASA's Curiosity rover touched down in 2012 is called Bradbury Landing, as a tribute to Ray Bradbury, the author of "The Martian Chronicles" and many other works of science fiction.
Perseverance has already begun to venture out from Butler Landing: In addition to announcing the landing site's name, members of the mission team shared imagery from the 1-ton, six-wheeled rover's first drive since its Feb. 18 touchdown.
Perseverance’s first drive on Mars
Thursday's traverse lasted about 33 minutes and put 21 feet (6.5 meters) on Perseverance's odometer. Color pictures sent back from Perseverance's hazard avoidance cameras show the tread marks left in Mars' red dirt as the rover took its first spin. Such imagery will be used to assess the dynamics of Perseverance's retro-rocket landing, which kicked up dust and exposed rock formations at Butler Landing.
"When it comes to wheeled vehicles on other planets, there are few first-time events that measure up in significance to that of the first drive," said Anais Zarifian, rover mobility testbed engineer at JPL. "This was our first chance to 'kick the tires' and take Perseverance out for a spin. The rover's six-wheel drive responded superbly. We are now confident our drive system is good to go, capable of taking us wherever the science leads us over the next two years."
The rover's software has already been updated to replace the program for landing with the program for surface operations. Mission controllers have also conducted procedures for deployment and checkout of Perseverance's RIMFAX, MOXIE and MEDA instruments, as well as its heavy-duty robotic arm.
"Tuesday's first test of the robotic arm was a big moment for us. That's the main tool the science team will use to do close-up examination of the geologic features of Jezero Crater, and then we'll drill and sample the ones they find the most interesting," said Robert Hogg, Perseverance's deputy mission manager. "When we got confirmation of the robotic arm flexing its muscles, including images of it working beautifully after its long trip to Mars – well, it made my day."
From its vantage point at Octavia E. Butler Landing, NASA's Perseverance rover can see a remnant of a fan-shaped deposit of sediments known as a delta (the raised area of dark brown rock in the middle ground) with its Mastcam-Z instrument. (NASA / JPL-Caltech / ASU)
More than 7,000 raw images have been sent back to Earth and are available online in a gallery supported by Amazon Web Services. That stockpile is sure to grow as Perseverance ramps up full science observations.
The mission plan calls for the rover to make regular commutes of 650 feet (200 meters) or more to sites of scientific interest. "We're going to do some longer drives," Zarifian said. "This is really just the beginning."
The primary goal of the $2.7 billion Perseverance mission is to analyze the composition of Martian soil for traces of ancient life, and store up promising samples for return to Earth by later missions over the next decade.
This story first appeared on GeekWire.
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