October 1 – 5 Key Stories From The Digital World

By October 1, 2019 Insight

1. 7 charts illustrating the US PE middle market in 2Q

  • 2018 marked the first time this decade that total middle-market activity had surpassed $400 billion, and 2019 is poised to repeat that achievement
  • The middle market, representing deal sizes between $25 million and $1 billion, has made up an increasing share of overall US PE deal count over the past five years
  • So far in 2019, exits below $500 million have accounted for nearly 90% of exit flow in the US PE middle market, surpassing the previous decade highs

2. Hyundai is getting into the flying car business

  • launched a new air mobility division aimed at developing technology for the commercialization of flying cars, the latest company to dive into the emerging industry
  • urban air sector is expected to grow into a market worth $1.5 trillion within the next 20 years
  • others pursuing various kinds of air taxis, including Uber, Kitty Hawk Corp., Terrafugia and Volocopter

3.  WeWork withdraws its ill-fated IPO

  • formalizes the end of the New York-based company’s pursuit of a near-term listing and allows Neumann’s successors to proceed with the company’s financial turnaround without disclosing as much information publicly
  • had cash and cash equivalents of roughly $2.5 billion as of June 30…while revenue doubled to nearly $1.8 billion in 2018, its losses also more than doubled to $1.9 billion
  • will also put pressure on WeWork to secure alternative funding, given that a $6 billion loan deal with banks, agreed last month, hinged on a successful share sale of at least $3 billion

4. Waymo and AAA team up to educate kids on self-driving cars

  • overarching partnership with AAA will seek to educate everyone about self-driving cars and to gain their trust
  • Since children today are growing up at a time when the technology is rapidly evolving, Waymo says it wanted to hear their perspectives on how it can improve road safety
  • has been busy working on its own ride-hailing program called Waymo One…selected riders can hail a self-driving Waymo vehicle to take them to their destination

5. KT and Hyundai to deploy 5G networks into construction sites

  • will collaborate to develop autonomous construction robots, among other technologies, that use 5G to improve productivity and monitoring at construction sites
  • KT and Hyundai will build 5G networks at the latter’s construction sites and commence trials of the 5G solutions on two sites sometime this year
  • Last week, KT announced it was working with Samsung to install 5G networks on the latter’s hospitals and co-develop smart hospital solutions