🔊 Clubhouse Launches Audio Recording Features

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Clubhouse Launches Audio Recording Features

Popular social audio chat app Clubhouse is launching two audio recording features that will allow users to save and share audio from public rooms.

These features will allow users to record and replay conversations and also download 30-second clips to share on social media or other sites.

The ability to record and replay conversations will be tested and offered to certain creators over the next few weeks.

Additionally, the app will also roll out an improved search function that will help people find live and scheduled audio rooms, users, and clubs oriented around certain interests.

Clubhouse has created these features to help content creators on their platform expand their audience at a time when its competitors like Facebook and Twitter are also introducing competing social audio features.

The long-awaited recording features come as content creators- some of whom have faced problems monetizing their Clubhouse presence wanted simple ways to record and share their conversations on Clubhouse.

Taiwan’s Foxconn is Buying Lordstown Motors’ Ohio EV Factory

Foxconn Technology Group, the world’s largest electronics maker, has announced a deal to buy a huge auto assembly plant in Ohio from startup electric truck maker Lordstown Motors for $230 million.

The agreement stands to give the Taiwan-based tech giant, best known for making Apple iPhones, an entry into the growing EV market, a move it has been looking at for a long time.

Foxconn has agreed to immediately buy about $50 million of Lordstown Motors’ common stock from the company for $6.89 per share.

Lordstown plans to get into a long-term lease for a part of the existing facility for its Ohio-based workers, while Foxconn plans to give employment to several employees of Lordstown Motors.

Additionally, the companies plan to negotiate a contract manufacturing agreement that would make Foxconn manufacture Lordstown Motors’ flagship vehicle, the Endurance truck, at the Lordstown plant.

This deal will also give Lordstown Motors the ability to leverage Foxconn’s technology and manufacturing expertise, as Lordstown Motors starts its production of electric vehicles. It also gives Foxconn a foothold in the United States electric vehicle space.

SoftBank-Backed Oyo Files Papers For $1.16 Billion IPO

Indian-based hotel chain startup Oyo is planning to raise about $1.16 billion in an initial public offering, according to draft papers submitted to the country’s market regulator.

Oyo plans to raise $942 million through the sale of new shares, while the rest will be secondary shares or those sold by existing stockholders.

The company would use proceeds from the IPO to pay off existing obligations and fund growth, which could include mergers and acquisitions.

With its technology, Oyo allows hoteliers to accept online bookings and payments through its platform, among other services.

Oyo has also expanded beyond India and into the United States, Europe, and Southeast Asia. However, it considers India, Indonesia, Malaysia, and Europe as its core growth markets.

The Covid-19 pandemic has impacted the hospitality sector, and the company laid-off employees, to cut costs and losses.

However, Oyo has implemented several measures as a part of its Covid-19 response strategy including, accelerated development and adoption of technology and products to minimize operating costs and reposition its offerings.

The start-up is also the latest among numerous highly valued Indian tech start-ups to go public this year.

U.S. Auto Sales Expected to Drop in Third Quarter Due to Chip Shortage

U.S. auto sales are predicted to fall in September, taking the purchase of new vehicles down in the third quarter by at least 13% as the chip shortage continues to disrupt production, new industry estimates show.

A forecast from auto industry experts Cox Automotive, Edmunds, and J.D. Power/LMC Automotive predicted that less than 3.4 million new cars and trucks will be sold in the U.S. in the third quarter of 2021, which reflects a 13% to 14% decrease from the third quarter of 2020 and a 22.7% decrease compared to the second quarter of 2021.

The massive decline including, an expected 24% to 26% drop in September, is mainly due to the ongoing shortage of semiconductor chips for new vehicles.

The shortage of auto parts has made automakers close down plants for weeks, if not for months. As such, the lack of production combined with strong consumer demand has caused a decline in the inventory of vehicles.

Cox analysts have predicted that auto supply will improve mildly in the fourth quarter. Manufacturers have also pledged to keep leaner inventories in the future to boost vehicle profits and prices, which have been at record levels.

Around The Web

🚗 Samsung has announced that Galaxy users will be able to use their smartphones as a digital car key for the newly launched EV, Genesis GV60. With Samsung Digital Key, you will be able to lock and unlock your car securely with your smartphone and even safely share the key with friends and family.

👽 NASA has selected two US companies (and given them $235m) to develop electric propulsion technology for aircraft with the aim of introducing this technology to the US air fleet by 2035.

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