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Figma debuts on Wall Street at $33 per share – then more than triples

3 weeks 3 days ago
Investors cash in as design firm goes public after takeover dreams dashed

updated  Adobe competitor and one-time acquisition target Figma debuted on public markets on Thursday with 36,937,080 shares of Class A common stock at $33 apiece, valuing the web design tool developer at $19.3 billion. But the price-setters apparently underestimated demand dramatically, as investors sent the price up more than threefold by the end of the trading day.…

Richard Speed

Apple Is Selling iPad Repair Parts for Astronomical Prices

3 weeks 3 days ago
Apple began selling iPad repair parts to the public in late May following new right-to-repair legislation, but independent repair professionals say the pricing makes most repairs economically unviable. A charge port for an iPad Pro 11 costs $250 from Apple compared to less than $20 for aftermarket parts, Brian Clark of iGuys Tech Shop told 404 Media. An iPad A16 digitizer costs $200 from Apple versus $50 from third-party suppliers, while the entire iPad A16 retails for $349. The iPad Pro 13 screen assembly costs $749. Jonathan Strange of XiRepair analyzed the parts catalog and found more than one-third of components cost too much for repair shops to use profitably, 404 Media reported Thursday. Strange calculates repair viability by adding $85 labor costs and 10% profit margin to parts prices, then comparing the total to half the device's retail cost.

Read more of this story at Slashdot.

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Gene scanner pays $9.8 million to get feds off its back in security flap

3 weeks 3 days ago
Illumina allegedly lied about its testing devices meeting government standards

Biotech firm Illumina has agreed to cut the US government a check for the eminently affordable amount of $9.8 million to resolve allegations that it has been selling the feds genetic testing systems riddled with security vulnerabilities the company knew about but never bothered to fix.…

Brandon Vigliarolo

Google Loses Epic Games Appeal, Must Open App Store To Rivals

3 weeks 3 days ago
Google lost its appeal Thursday of a judge's order that will force the tech giant to open up its app store to competitors. The 9th Circuit Court of Appeals upheld a lower court ruling requiring Google Play to allow rival marketplaces and billing systems, ending a legal battle that began when Epic Games sued over anticompetitive practices. A jury sided with Epic in December 2023, finding Google paid phone makers and app developers to use its store exclusively.

Read more of this story at Slashdot.

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