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Investors backed an AI startup that puts a doctor on your smartphone with $60 million

UK artificial intelligence (AI) startup Babylon has raised $60 million (£47 million) for its smartphone app which aims to put a doctor in your pocket.

The latest funding round, which comes just over a year after the startup's last fundraise, means that the three-year-old London startup now has a valuation in excess of $200 million (£156 million), according to The Financial Times.


10 things in tech you need to know today (AAPL, SNAP, GOOG)

Good morning! Here is the tech news you need to know this Tuesday.

1. Larry Page's flying car will be available to buy before the end of the year. The car is made by a company called Kitty Hawk, which has received funding from Page.

2. London delivery startup Doddle is closing most of its stores after burning through tens of millions of pounds. The company is laying off more than 100 people as it pivots its business model.

3.


Oracle is building a 'transformational' startup inside the company (ORCL)

Oracle doesn't want to be accused of missing the boat when it comes to the next wave of tech.

It is launching two new Solution Engineering Centers where it plans to build out all kinds of cutting new technology, such as "artificial intelligence, augmented and virtual reality and many other exciting technology trends that interest us all," according to an employment ad first spotted by Bloomberg's Brian Womack.

The company calls this plan a "startup inside Oracle."

The centers will be in located in Reston, Virginia and Denver, Colorado, the ad says and will involve, "a unique and rare opportunity to join the ground floor of building a truly transformational organization inside Oracle North America."


Marissa Mayer will have $186 million in Yahoo stock when Verizon buys the company (YHOO, VZ)

When Verizon's $4.48 billion acquisition of Yahoo closes this June, Marissa Mayer will be stepping down as CEO.

But don't worry too much about her — Mayer has about $186 million worth of stock, stock options and restricted stock units that will all be fully vested before the deal closes, according to the New York Times.

That number is based on the Times' analysis of a


A Warren Buffett-backed insurance tech company is going to help 'uninsurable' diabetics in the UK

LONDON — A South African insurance technology company supported by Warren Buffett's Berkshire Hathaway is launching a life insurance product for diabetics in the UK.

AllLife has partnered with Royal London, the UK's largest mutual insurer, to offer a new product to diabetics previously regarded as "uninsurable" because of their condition.

AllLife uses an algorithmic pricing platform called Kaliber to deliver a cost-effective life insurance product.

CEO and founder Ross Beerman told Business Insider earlier this year: "The term now is robo-underwriting but it’s using tech that pulls a vast amount of medical information and puts it through a decision tree process that allows us to automated most of the stuff that life insurance companies are doing manually."


LoveCrafts raised £26 million for its online crafting communities

LONDON — LoveCrafts, the UK-headquartered marketplace for craft products, announced on Tuesday that it has raised £26 million in new funding from Scottish Equity Partners, as well as previous investors Balderton Capital and Highland Europe.

LoveCrafts isn't a traditional e-commerce site — it favours building communities around different kinds of crafts rather than just serving as an online shopfront.

Right now LoveCrafts runs two online communities: Knitting and crochet. Users can follow each other and purchase designs for knitting and crochet projects.

LoveCrafts takes a cut of the cost of designs, as well as any of the crafting supplies sold through the site. It's essentially a mix between a social network and a more traditional, Etsy-style marketplace.

LoveCrafts said in a press release announcing its funding that it will use the money to launch more online craft communities and expand internationally.


Wikipedia cofounder Jimmy Wales is launching a community-powered news site

LONDON — It was Kellyanne Conway who convinced Jimmy Wales to create a media company.

On Tuesday, the Wikipedia cofounder announced Wikitribune, a new community-powered news outlet that aims to combat fake news and mistrust of the media — and he says it was remarks by the controversial Trump advisor who inadvertently pushed him to do so.

"I've been thinking about this for quite a long time, I've been working on ideas and so forth, it was always a backburner project," he told Business Insider in a telephone interview on Monday.

"But there was a moment: A friend had persuaded me that we should all give Donald Trump 100 days, we should just assume the best and hope he would do well, and be supportive on the presidency in general.


Netflix CEO Reed Hastings saw his pay jump almost 40% to $23.2 million in 2016, but that's tiny compared to his net worth

Netflix CEO Reed Hastings made $23.2 million in total compensation for 2016, up almost 40%, according to an SEC filing Monday. That's also an increase over his total compensation in 2015, which was $16.6 million.

Hastings' 2016 base salary was $900,000, while his stock options added up to $22.3 million. But this is a drop in the bucket next to Hastings' net worth, estimated at $1.7 billion by Forbes.

Ted Sarandos, Netflix's head of content, made $18.9 million, including a $4 million bonus. Sarandos' estimated 2017 target bonus is $9 million.

Netflix's chief of product, Neil Hunt, has an estimated $5.2 million target bonus for 2017, though he is leaving the company in July after almost two decades. His total compensation for 2016 was $8.8 million.

On


Snapchat is embracing German publishers by expanding its Discover section (SNAP)

Snapchat maker Snap Inc. is saying 'Hallo' to media outlets in Germany with the launch of its Discover section in the country.

Bild, Spiegel Online, Sky Sport, and Vice will begin publishing content in German on Snapchat starting April 25, a Snap spokesperson told Business Insider. Like messages in the app, each publisher's collection of stories will disappear after 24 hours.

“We want Snapchatters everywhere to have content that is relevant to them, in their own language, from trusted media brands," Snap's VP of content, Nick Bell, said in a statement. "Starting today, German Snapchatters will for the first time have local content in Germany, in German, from German publishers."


Instagram’s rapid attack on Snapchat, in one chart

Facebook has been trying to squash Snapchat for a long time. Remember (the other) Poke? Or Slingshot? Or that time it tried to buy the company outright? None of those really worked out. Over the past year, though, Mark Zuckerberg and company appear to have found a way to stunt Snapchat’s growth: Make a total rip-off, but do so within an app that’s already massively popular.

That app, Instagram, added its