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Investors Want to Fly with Drones
Drones are starting to hit the skies, but investors are still grounded.
The Federal Aviation Administration has said approximately 387,000 "hobbyists" have registered drones since it started accepting such registrations in December, according to the Wall Street Journal.
And the Consumer Electronics Association has forecast that drone sales that require FAA registration will reach one million units this year, which would be a 145% increase from 2015.
This news has investors giddy at the prospect of sinking money into the drone market, but it's not quite party time yet.
Chinese company DJI, launched its latest product, the Phantom 4, last week. DJI has dominated the drone market thus far, as three out of every four drones registered for commercial use in the U.S. in 2015 belonged to the company, according to Bard College, which collected FAA data.
DJI shows no signs of going public anytime soon, which severely limits the opportunities for investors in the drone market. Looks like they'll have to wait a while to take to the skies on the backs of the drones.
Here's a look inside a doomsday vault on a remote island that holds every known crop in the world.
These photos of the ruins of America's Space Race from 50 years ago will give you chills.
And Bank of America Merrill Lynch is having a fire sale, and everyone must go.
FIVE IN FOCUS
- Tim Cook, Elon Musk, and Larry Page met privately at a world forum event, and the "main topic" was preventing Donald Trump from becoming President. Read more >>
- It's becoming more difficult to make money from apps, and a battle for the App Store's future is coming. Read more >>
- Snapchat reportedly expects revenue of more than $300 million this year, and the app's revenue generation looks an awful lot like the early years of Facebook.Read more >>
- Maria Sharapova's failed drug test cost her a $12.5 million per year deal with Nike, which has suspended its contract with her. Swiss watchmaker Tag Heuer has also said it will not renew its deal with the tennis star. Read more >>
- Christopher Poole, the founder of online image forum 4chan, is joining Google to work on Photos and Streams. Read more >>
REPORT OF THE DAY ![drone hardware market 1]()
The Drones Report
In this report, we forecast sales revenues for consumer, enterprise, and military drones. We also project the growth of drone shipments for consumers and enterprises. We detail several of world’s major drone suppliers and examine trends in drone adoption among several leading industries. We examine the regulatory landscape in several markets and explain how technologies like obstacle avoidance and drone-to-drone communications will impact drone adoption. Download It Today >>
INSIDER HIGHLIGHTS
How Hackers Took Out an Entire Power Grid in Ukraine
Hackers knocked out power for more than 230,000 people in December, and they did it without breaking a sweat. Read more >>
US Bank Joins The P2P Payment Game
After nine months of preparation, US Bank has joined clearXchange, which will allow for peer-to-peer payments, similar to Venmo.Read more >>
Shopping Subscriptions Surge Thanks to Social Media
Sites such as BuzzFeed and Facebook have become a major driver of referral traffic toward subscription retail sites such as Dollar Shave Club and Birchbox. Read more >>
Meerkat Changes Its Approach as Competition Mounts
Meerkat, the app that began as a live streaming service, has announced it will focus on social video after it came up short against stiff competition from Facebook and Twitter. Read more >>
Augmented and Virtual Reality Spending on Pace to Shatter Records
Investor spending on augmented and virtual reality has already eclipsed $1.1 billion this year. That figure had never reached more than $1 billion in a single calendar year. Read more >>
CHART OF THE DAY
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