Online sneaker sellers GOAT and Flight Club merge; Hulu lost $920 million in 2017; and U.S. military certification the next big test for Falcon Heavy.
Online sneaker retailer GOAT announced Feb. 8 it’s merging with sneaker e-consignment shop Flight Club and received a $60 million cash infusion, Business Insider reports. The companies, which focus on coveted, hard-to-find footwear, will each maintain their own brands after the merger, they said in a press release. But GOAT will move Flight Club onto its technology systems.
Hulu dropped deeper into the red last year as it boosted spending on originals and launched its live TV service — and the losses are expected to mount in 2018, as it continues to invest in content to fuel growth, Variety reports. In 2017, Hulu lost $920 million, versus a loss of $531 million a year earlier. Its four owners — Comcast, 21st Century Fox, Disney and Time Warner — invested $1 billion in the streamer (versus $733 million in 2016, including $583 million from Time Warner).
The inaugural launch on Feb. 6 of the world’s most powerful rocket sets the stage for SpaceX’s Falcon Heavy to begin the qualification process to compete for lucrative U.S. government contracts, SpaceNews reports. The U.S. Air Force has already booked the massive rocket for a June launch of a test payload. But the Falcon Heavy may have to nail as many as 14 missions before it passes the threshold to be certified by the U.S. Air Force.
Technology reporter Garrett Reim can be reached at firstname.lastname@example.org. Follow him on Twitter @garrettreim for the latest in L.A. tech news.