Cloudflare prices its IPO at $15/share, raising $525M, which gives it an initial market cap of ~$4.4B, an increase of 144%+ over its last private valuation — Cloudflare priced its shares at $15 apiece Thursday, above the high end of its upwardly revised range, raising $525 million in the process.
Tesla CEO Elon Musk promised a more powerful powertrain option in future Model S, Model X and the next-generation Roadster sports car that will push acceleration and speed beyond the current high bar known as Ludicrous mode.
Musk tweeted Wednesday evening “the only thing beyond Ludicrous is Plaid,” a teaser to a higher performing vehicle and a nod to the movie Spaceballs.
These new higher performing versions of the Model S, Model X, and Roadster will contain what Musk describes as a Plaid powertrain and is still about a year away from production. This new powertrain will have three motors, one more than the dual motor system found in today’s Model S and X.
This Plaid powertrain has already seen some action. Tesla revealed Wednesday that a Model S equipped with a Plaid powertrain and chassis prototype had lapped Laguna Seca racetrack in 1:36:555, a second faster than the record for a four-door sedan.
The “Plaid” powertrain will not be offered in the lower cost Model 3 or Model Y, which isn’t expected to go into production until late 2020. Musk also promised that this plaid powertrain will cost more than “current offerings, but will be less than competitors” without explaining what that means.
Close followers of the automaker might recall hints of a three motor powertrain in the past.
When Tesla unveiled a new Roadster prototype in November 2017, Musk said it would have three motors and be able to travel a whopping 0 to 60 miles per hour in 1.9 seconds and a top speed of 250 mph or even more. The Roadster isn’t expected to go into production until 2020.
What is new are Tesla’s plans to make this more powerful three-motor powertrain available in the Model S and Model X. And it stands to be an important option, if it does in fact materialize. The Model S has been around since 2012 and since the introduction the cheaper Model 3, sales have dipped.
And yet, Musk has said the X and S won’t be getting a major refresh. If Tesla hopes to maintain demand for either of its higher margin luxury vehicles, new trims like this plaid powertrain will be essential.
Tesla first announced Ludicrous mode in its Model S vehicles way back in July 2015. As shareholders and customers awaited the Model X to arrive, Musk unveiled several options for the company’s Model S sedan, including a lower priced version, longer battery range and “Ludicrous mode” for even faster acceleration.
Ludicrous mode, which improved acceleration by 10% to let drivers go from 0 to 60 mph in 2.8 seconds, came about as a result of an improved battery fuse. This new fuse, Musk explained in a blog post at the time, has its own electronics and a tiny lithium-ion battery that monitors current and protects against excessive current.
Tesla also upgraded the main pack contactor with a high-temperature space-grade superalloy instead of steel. This enabled the battery pack to remain “springy” under the heat of heavy current. In the end, the max pack output increased from 1300 to 1500 Amps.
Ludicrous was a $10,000 add on for new buyers. Tesla did reduce the price for existing Model S P85 owners for the first six months following the announcement and sold them the pack electronics upgrade needed for Ludicrous Mode for $5,000.
Musk joked in this 2015 blog post that there is “one speed faster than ludicrous, but that is reserved for the next generation Roadster in 4 years: maximum plaid.”
Walmart is expanding its brand-new “Delivery Unlimited” grocery delivery membership program to more stores across the U.S., with plans to reach over 50% of the country by year-end. The new program allows regular grocery delivery customers to pay either an annual fee of $98 or $12.95 on a monthly basis instead of paying the usual $9.99 per delivery fee. These options make Walmart Grocery delivery more affordable for those who order at least twice a month or more.
The program also gives Walmart a better way to compete with rival grocery delivery services including Amazon Prime Now/Whole Foods, Instacart, and Shipt, all of which offer subscription memberships.
Shipt currently charges $99 annually, and Target recently announced a way for Shipt shoppers to pay a per-order fee of $9.99 for the first time, by way of a Shipt integration on Target.com. Instacart, meanwhile, cut its annual fee to $99 in November. Prime Now is the most expensive option at $119 per year, but includes all the perks of Amazon Prime’s broader membership program.
In June, TechCrunch broke the news that Walmart’s Grocery Delivery Unlimited program was being trialed in Houston, Miami, Salt Lake City, and Tampa.
Those customers responded favorably, which is why the retailer decided to roll out the program to more U.S. markets.
Initially, that includes all 200 metro areas where Walmart Grocery Delivery is available today. By this fall, it will reach 1,400 stores. And by year-end, it will reach 1,600+ — or more than half the U.S.
The program doesn’t offer any other perks, beyond the savings for Walmart Grocery’s regular shoppers. However, it does have the advantage of locking customers into Walmart Grocery and increasing their return rates and loyalty.
Walmart’s Grocery business grown steadily over the years, and has become a favored alternative to higher-priced services like Instacart where the individual products are marked up as a means of generating revenue. Walmart, on the other hand, charges the same online as it does in stores — the only added cost is the delivery fee and tip. (Pickup is free).
Today, Walmart Grocery Pickup is offered at nearly 3,000 stores and Walmart employs more than 45,000 personal shoppers to fill its online grocery orders. Walmart Grocery Delivery, as noted, is on track for over 1,600 stores this year.
Unlike some grocery delivery businesses, Walmart doesn’t operate its own network of delivery professionals or independent contractors. Instead, Walmart partners with delivery providers across the U.S., including Point Pickup, Skipcart, AxleHire, Roadie, Postmates, and DoorDash. It has also tried, then ended, relationships with Deliv, Uber, and Lyft.
“We’ve been investing in our online grocery business by quickly expanding our Grocery Pickup and Delivery
services. Delivery Unlimited is the next step in that journey,” said Tom Ward, senior vice president, Digital
Operations, Walmart U.S., in a statement about the launch. “By pairing our size and scale and these services we’re making Walmart the easiest place to shop. Combine that with the value we can provide, our customers can’t lose,” he said.
Last month, Walmart reported its 20th consecutive quarter of sales gains in the U.S., with $130.38 million in revenue, earnings per share of $1.27, and net income to $3.61 billion, beating expectations. It said at the time that e-commerce sales had grown 37% in the quarter, in large part because of the rollout of next-day delivery and same-day grocery delivery.
Delivery Unlimited will not replace the pay-per delivery fee — that will remain an option for those who don’t want to subscribe. Customers will be able to see if the service is available in the market by visiting the Walmart Grocery website.
Realme is all set to launch its first 64MP camera smartphone, the Realme XT, in India on September 13. The smartphone was first teased at the launch of the Realme 5 series. Now, an alleged Pro variant of the smartphone has shown up on TENAA. A new Realme smartphone with model number RMX1991, which is said to be the Realme XT Pro, has been reportedly certified by TENAA in China. It is expected to come with Qualcomm Snapdragon 730G chipset.
The Realme XT Pro is touted to feature a 6.4-inch (2340 × 1080 pixels) Full HD+ AMOLED display with Corning Gorilla Glass 5 protection. It could be powered by the Snapdragon 730G mobile platform, paired with an Adreno 618 GPU. The smartphone is said to come with up to 8GB RAM and up to 128GB of internal storage with room for a 256GB microSD card. It is expected to run ColorOS 6.0 based on Android 9.0 Pie.
In the optics department, the Realme XT Pro is expected to sport a 64MP quad rear camera setup: 64MP rear camera with a Samsung GW1 sensor, 0.8μm pixel size and f/1.8 aperture + an 8MP 119-degree ultra-wide-angle lens with f/2.25 aperture and 1.12μm pixel size + a 2MP depth sensor with f/2.4 aperture and 1.75μm pixel size + a 2MP lens for 4cm macro with f/2.4 aperture and 1.75μm pixel size. It is said to feature a 32MP selfie shooter.
The Realme XT Pro may feature an in-display fingerprint sensor. The smartphone is touted to pack a 4000mAh battery with support for 30W VOOC fast charging. In the connectivity department, the Realme XT Pro is expected to support Dual 4G VoLTE, WiFi 802.11 ac (2.4GHz + 5GHz), Bluetooth 5, GPS + GLONASS and have a USB Type-C port.
We got some time to test the 64MP camera on the Realme XT, so you can check the results here.
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