APPLE ACQUIRES AKONIA HOLOGRAPHICS In a deal that is thought to have happened early this year, Apple confirmed that it has acquired Longmont, Colorado-based Akonia Holographics, which is a start-up focused on making lenses for augmented reality glasses that was founded in 2012. A clear sign Apple has its sights on developing a wearable device that would superimpose digital information on the real world. I n augmented reality, digital information is overlaid on the real time image, such as the popular game Pokemon Go, which allowed players to use the camera on their mobile phones for the Pokemon images to appear on their screens. Although popular in the gaming world technology firms are now focused on developing glasses that will show digital information on transparent lenses. This is where Akonia Holographics comes into the picture, as the tech firm has a portfolio of more than 200 patents related to holographic systems and materials, according to its website that will give Apple a competitive advantage in the devel- opment of this market as Apple continues its history of buying smaller companies whose technologies shows up years later in its products. $1-TRILLION USD MARKET VALUE CLUB NOW HAS SECOND MEMBER
And then there was two. Apple now has some company in the clubhouse as Amazon becomes the second and newest member of an elite club of publicly traded companies that are worth $1 trillion USD. So, it is no surprise that its founder and CEO, Jeff Bezos, is also part of a very elite group himself in the top spot on Forbes’ billionaires list this year. The company that started as a bookseller platform that quickly revolutionized how people shop online becoming the world’s largest internet retailer. The Seattle-based e-commerce giant has a loyal customer following for its Echo voice devices and the Prime member- ship program that offers fast, free shipping as well as music and video streaming perks. Investors continue to be enthusiastic about Amazon’s other businesses also. Amazon Web Services, which provides cloud computing services to companies and government, and Amazon’s advertising division makes billions by selling ads to companies that want their products to show up when shoppers search on the site and their growth like the e-commerce side of the business show no signs of slowing down any time soon.
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SEPTEMBER 2018 • SPOTLIGHT ON BUSINESS MAGAZINE
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