Google’s Parent Company Alphabet Earns Over $200 Billion 💰 in Annual Revenue

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Google’s Parent Company Alphabet Earns Over $200 Billion 💰 in Annual Revenue

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Alphabet, the parent company of Google, has set a new annual revenue record for 2021 by earning more than $200 billion in revenue annually.

The search giant showed no negative impact from the lingering coronavirus pandemic or ongoing issues with the global supply chain.

For 2021, the company saw a 41% increase year-over-year jump in revenue to $257 billion. The company’s revenue for Q4 2021 was $75.3 billion, up 32% from the previous year.

Sundar Pichai, the company CEO said in a statement, “Our deep investment in AI technologies continues to drive extraordinary and helpful experiences for people and businesses, across our most important products. Q4 saw ongoing strong growth in our advertising business, which helped millions of businesses thrive and find new customers, a quarterly sales record for our Pixel phones despite supply constraints, and our Cloud business continuing to grow strongly.”

The company also announced a 20-for-1 stock split that will take effect in July. The year 2021 was the first time Alphabet surpassed $200 billion in revenue, which is almost three times the company’s revenue from 2016.

Ford to Invest up to $20 Billion 💰 in Electric Vehicles 🚘 Push

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Ford Motors is planning an additional investment of up to $20 billion in building its electric vehicles. The company will make a fresh investment of $10 to $20 billion over the next five to ten years.

As part of the plan, Ford will convert its present factories around the world to electric-vehicle production units.

Additionally, the company is planning to hire engineers specializing in relatively new areas such as battery chemistry, AI, and EV software.

It is also reported that Ford has evaluated spinning off a small portion of its electric vehicle business as part of the reorganization.

The company is restructuring its business in an effort to capture the value that investors have been awarding some EV start-ups.

Overall, this move is part of the company’s initiative to challenge Tesla’s dominance in the electric vehicles market.

The №2 automaker in the U.S. is rallying behind a business plan it calls Ford Plus and intends to create more cars that are fully networked to compete with its rivals.

Edtech Unicorn 🦄 GoStudent Acquires Seneca Learning And Tus Media Group

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GoStudent, a Vienna-based edtech unicorn, has acquired the UK-based Seneca Learning and Spanish Tus Media Group in a move to become the number 1 global school and a leading education provider.

Founded in 2016, GoStudent is a digital platform that connects students to teachers in a virtual learning environment.

Through its platform, the startup provides paid, one-to-one, video-based tuition to primary, secondary, and college-aged students using a membership model.

With the latest acquisition, GoStudent aims to leverage the strategic fit between the two platforms.

The edtech company will also expand its offering in new markets and reach more students globally.

Moreover, students looking for structured, sustainable, long-term tutoring support will be able to access managed tutoring services from GoStudent via Tus Media’s platforms.

GoStudent also plans to use the services of Seneca Learning in markets outside the UK and grow its presence into regions where the company is already established.

The newly acquired companies will continue to operate independently under their current leadership teams and with their well-established brand names.

Ethereum Worth $1 Billion Burned in January Due to High NFT Transactions

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According to blockchain data from Nansen Analytics, Ethereum worth over $1 billion has been burned in the past month.

This record burn rate happened due to the high transaction volume recorded on the world’s largest NFT marketplace, OpenSea.

This record burn rate is the highest since the introduction of the EIP-1559 upgrade in August 2021, in which a portion of fees is taken out of circulation for every transaction that takes place on the Ethereum blockchain.

While the crypto market ended bearish in January, the NFT market was very bullish as it saw growing market participants and volume trading during the first month.

In the past month, the total volume of NFT transactions on OpenSea hit an all-time high of $3.5 billion.

The NFT marketplace is currently ranked #1 on a burn leaderboard compiled by Ultra Sound Money.

It is followed by the token burns from Ethereum transactions and Uniswap V3 with second and third place, respectively.

Around the Web 🌐

Chevrolet Silverado Has Secured Over 110k Reservations: General Motors said that it has already received more than 110,000 reservations for its new electric vehicle Chevrolet Silverado. This includes reservations from over 240 fleet operators.

Apple News Launches Daily Local Newsletter: Apple has launched its first daily newsletter for residents in the San Francisco Bay Area. The daily local newsletter includes top stories across local news, politics, sports, etc., from numerous publications like San Francisco Chronicle, Eater San Francisco, SF Gate, The Oaklandside, among others.


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