LATEST TECH NEWS: Facebook to pay €106m in tax to France. 2 other things and a trivia you need to know today, August 25, 2020

These latest stories from the tech space will keep you updated with trends today.

1. Facebook to pay €106m in tax to France

Social media giant Facebook has acknowledged readiness to clear its pending tax profile in France. According to reports, the US social media company, on Monday, August 24, stated that it has agreed with the French government to pay €106m ($125m) in “back taxes” to cover for its operations in the region over a decade-long period from 2009.
Speaking on the development, Facebook’s France spokesperson affirmed that this was in a bid to demonstrate its willingness to comply with government rules and regulations. Adding that Facebook, with the decision, looks to “resolve” pending disputes.

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Tech Trivia

Which of the following is currently the world’s largest subscription streaming platform?

A. Amazon
B. Netflix
C. YouTube
D. Viewlift

Answer: See end of post.

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2. Automation startup Autopilot launches tool to ease procurement processes

Considered as a beneficial product for the government, local automation startup Autopilot has designed a tool aimed at easing validation and authentication in the procurement process for public and private users. Since the pandemic broke out early 2020, the procurement of critical personal protective equipment (PPE) and medical supplies has become a critical issue around the globe. Built as a product in one of the recently held virtual hackathon, AutoCollect is expected to provide government and corporate clients with a complete solution that is accurate, transparent, and scalable.

Read also: LATEST TECH NEWS: Twitter flags yet another Trump tweet. 4 other things and a trivia you need to know today, August 24, 2020

Speaking on the product, the company Autopilot noted that the product AutoCollect was built in three days at the Startupbootcamp organised by the UK-South Africa Tech Hub in conjunction with the UK Government-funded Global Digital Marketplace Programme. According to reviews, the company Autopilot developed AutoCollect in a bid to address the current issues surrounding the procurement of critical personal protective equipment. In addition, the product will provide both government and corporate clients with a complete audit trail.

3. AI startup DataProphet secures $6m for expansion

Looking to expand its footprints internationally, South African startup DataProphet has announced securing a $6 million Series A funding round. The company, which uses artificial intelligence (AI) to help manufacturers control their operations, was formed in 2014 when two friends at the University of Cape Town, Frans Cronje and Daniel Schwartzkopff, decided to use their knowledge of AI to start their own business. According to reviews, the company’s AI-as-a-service, DataProphet PRESCRIBE, prescribes changes to any manufacturing plant, helping to optimise production without the expert human analysis typically required.

Since the company’s launch 7 years ago, DataProphet first secured VC funding in 2016, from Yellowoods Capital, before a further round, led by Knife Capital, which was raised in 2018. Commenting on the new raiser, the deal book established that Knife Capital returned as a follow-on investor with records of participation from Industrial Development Corporation of South Africa (IDC) and Norican Group, a leading foundry engineering and equipment company. As DataProphet looks to expand internationally, the fund is expected to help fast-track its strategy of growth, leveraging strategic partners.

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Tech Trivia Answer: Netflix

Netflix remains the world’s largest subscription streaming service with roughly 183 million paid subscribers worldwide as of March 2020

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