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Fitbit, Alibaba Ink Chinese Expansion Deal

Fitbit and Tmall.com, the Chinese platform for brands and retailers owned by Alibaba Group, have signed a memorandum of understanding (MoU) to expand Fitbit’s reach in China. As part of this arrangement, Fitbit will establish a retail presence on Alibaba’s Tmall.com online shopping site.

In a statement released by the company, Fitbit says it has shipped more than one million Fitbit Blaze devices in its first month of availability in the U.S., Europe, Australia and South Asia, as well as over one million Alta devices since it went on sale in the U.S. in March.

[Image courtesy: Fitbit]

 

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Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.