Verizon and the city of Sacramento partner up to provide smart city technology
Sacramento City Council has approved a deal that will see Verizon implementing cell towers to provide free wifi to all public parks, as well as adding digital kiosks and boosting STEM education and 5G connectivity.
In exchange for free wifi, the city will stump up an estimated $2 million in potential lease payments over the next 10 years, whilst Verizon is expected to invest a total of $100m into the city.
Verizon and Sacramento will also work together to further the Vision Zero scheme, which aims to reduce the number of traffic fatalities. This will include using technology to increase safety at intersections and improving the current set of traffic signals.
Mayor of Sacramento Darrell Steinberg said that the deal is a 'critical step' in upgrading the city's infrastructure.
'This deal will ensure that everyone who lives here or spends time here can experience the benefits of a safer, more mobile and more sustainable city,' said Steinberg in a press release.
Meanwhile, vice president of smart communities at Verizon Mrinalini Ingram has hailed the move as 'underlining the city's commitment to putting its citizens first.'
AnyComm, however, has criticised the deal as the city council has approved the agreement despite it only being five days since the proposal was made public - current Sacramento procedure requires a major deal to be made public ten days before a vote.
Rivals anyComm partnered with Siemens to deliver its own wireless internet system proposals, something which they claim they have been discussing with city officials since January.
Founder and CEO Rob Praske urged 'caution' to the council, whilst also stating that they 'hoped [anyComm] would have had an opportunity to present
Bukalapak raises $1.5bn in record Singapore IPO, say sources
Bukalapak, currently the fourth largest Indonesian ecommerce company, is said to have raised $1.5 billion in the first IPO by an Indonesian tech unicorn.
Three unidentified, but likely reliable, sources told Reuters the order books for Bukalapak’s IPO were covered by multiples, with one source claiming the issue attracted more than $6 billion in demand despite being listed at the top of its indicated price range.
Bukalapak's 50x growth
Bukalapak was looking to raise just $300 million just a few months ago. The figure grew to $800 million before rising to $1.5 billion as investors jockeyed for a piece of the company.
Covid-19 has had a positive impact on many ecommerce operators, and Bukalapak also has strong investment lines via Singapore sovereign investor GIC and Microsoft, among others. The company focuses on micro, small and medium-sized enterprises.
Indonesia is Southeast Asia’s biggest economy.
Indonesia’s four biggest ecommerce companies
Tokopedia is an Indonesian technology company specializing in e-commerce. It was founded in 2009 by William Tanuwijaya and Leontinus Alpha Edison.
Shopee was first launched in Singapore in 2015, and later expanded its reach to Malaysia, Thailand, Taiwan, Indonesia, Vietnam, the Philippines, Brazil, Mexico, Chile, and Colombia.
Lazada is a Singaporean multinational technology company which focuses mainly on e-commerce. Founded by Maximilian Bittner with the backing of Rocket Internet in 2012, it is currently owned by the Alibaba Group after its acquisition in 2016.
Bukalapak is an Indonesian e-commerce company. It was founded in 2010 as an online marketplace to enable small and medium enterprises go online and has expanded to support smaller traditional family owned businesses.