Today in the connected economy, Google says it is getting ready to test a new augmented reality device later this summer. Also, Netflix tries to find the good in a recent earnings report, and Kroger expands its meal kit delivery service.
Google to Begin ‘Real World’ Tests of AR Device in August
Starting next month, Google will begin tests of a prototype of a new augmented reality (AR) device, the company announced on its blog.
The search giant said testing the device in a lab has limitations, which is why it plans to conduct real-world examinations.
“This will allow us to better understand how these devices can help people in their everyday lives,” the post stated. “And as we develop experiences like AR navigation, it will help us take factors such as weather and busy intersections into account — which can be difficult, sometimes impossible, to fully recreate indoors.”
‘Stranger Things’ Have Happened: Netflix Bets Tweaks Will Reverse Post-Pandemic Decline
Netflix’s shares saw one of their worst days on record following disappointing earnings result, with the stock down more than 36% at one point.
But when writing to shareholders, the company took an upbeat view, saying its content is fueling demand in other parts of the entertainment ecosystem.
“When we deliver shows and movies that members are talking about in large numbers, we can influence pop culture, build passion for Netflix and create an experience that is differentiated and difficult-to-replicate,” Netflix said.
The company pointed out that its series Stranger Things helped push Kate Bush’s song “Running Up That Hill” and Metallica’s “Master of Puppets” back onto the charts more than 35 years after their release.
Kroger Boosts ‘Home Chef’ Meal Prep As Restaurant Take Out, Delivery Slump
With rising food prices forcing cost-conscious consumers to find lower-cost alternatives, The Kroger Co. is expanding the capacity of its meal kit delivery business, Home Chef.
The meal solutions company has opened a production center in Douglasville, Georgia, to increase the number of orders the company can fulfill and to boost fulfillment efficiency.
“Our Atlanta facility is a foundational part of delivering high-quality meals to our customers in the south and beyond,” said Home Chef CEO Erik Jensen. “This brand new center will make our production and distribution even more efficient, so we can continue to bring fans easy, delicious recipes.”
FICO Teams With Open-Finance.ai for Real-Time Credit Assessments
Predictive analytics company FICO is working with open banking and financial services firm Open-Finance.ai to help banks and FinTechs speed and improve the decision-making process for credit grantors and other firms.
The partnership will seeOpen-Finance.ai integrate the FICO Blaze Advisor decision rules management system into its open banking platform. This will give lenders an automated alternative with real-time appraisals that can take the place inefficient and time-consuming credit assessment processes.
“Israel is on the cusp of major banking reform with the introduction of open banking,” said Mark Farmer, vice president of partner management for FICO in Europe, the Middle East and Africa.
“Automating decisions allows lenders to increase the efficiency of the lending process without sacrificing risk management regulatory rigor. This will speed up lending, increase customer satisfaction, reduce operational costs and drive economic activity.”
Wish, Collect+ Partner on Click and Collect Initiative
eCommerce marketplace Wish has teamed up with British delivery service Collect+ to allow customers at select U.K. stores to “Click and Collect” packages from Collect+’s retail partners.
A Wish spokesperson told PYMNTS via email that the partnership marks the latest extension of the company’s Wish Local program.
“In the midst of surrounding economic uncertainty and cost-driven pressures facing retailers, from inflation to energy rates, I am extremely proud that we are able to continue adding value to their partnership with us by driving additional footfall and opportunities to earn additional revenue for their businesses,” said Nick Williams, head of strategic partners and product at PayPoint, owner of Collect+.
Flip Raises $60M at $500M Valuation to Expand Discovery eCommerce Platform
Discovery eCommerce startup Flip has raised $60 million in a Series B funding round that brought its valuation to $500 million.
Co-founded in 2021 by CEO Noor Agha and Chairman Jonathan Ellman, the Los Angeles-based company offers brands a platform that melds social discovery and eCommerce.
“Our thesis from day 1 was that the future of commerce is centered around people,” Agha said. “No one sells a product better than the customer that has purchased that product multiple times, and we see that every day on Flip.”
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