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Virgin Galactic revealed the arrangement with Social Capital Hedosophia in July. Wikimedia Commons

Richard Branson’s commercial human spaceflight venture Virgin Galactic is set to become the world’s first publicly traded company next week following the completion of its merger with venture capitalist Chamath Palihapitiya’s Social Capital Hedosophia.

The resulting company is named Virgin Galactic Holdings (VGH) and its common stock, units and warrants are expected to commence trading on the New York Stock Exchange on October 28.


Virgin Galactic revealed the arrangement with Social Capital Hedosophia in July. The company announced the completion of the merger on Friday.

Virgin Galactic already has customer reservations from more than 600 people in 60 countries representing approximately $80 million in total collected deposits, and over $120 million of potential revenue.


The resulting company is named Virgin Galactic Holdings (VGH) and its common stock, units and warrants are expected to commence trading on the New York Stock Exchange on October 28. Wikimedia Commons

“Today is the start of a new era for the human spaceflight industry. VG has already pioneered several important space milestones, including sending the first test passenger to space onboard a commercial vehicle, and today’s announcement is no different,” George Whitesides, Cheif Executive Officer (CEO) at Virgin Galactic Holdings, said in a statement.

“Now that VG is a publicly traded firm, anyone can invest in a human spaceflight company that is striving to truly transform the market and be part of the excitement of the commercial space industry,” Whitesides said.

As a result of this transaction, Virgin Galactic has received over $450 million of primary proceeds and at market close on Friday, the business has a market capitalisation of $2.3 billion.

Also Read- Fraud at PMC Bank Shows that there is Rot in System and Not the Bank

Virgin Galactic earlier this month unveiled the spacesuits its paying passengers will wear on space tourism, which are expected to commence in 2020. (IANS)


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Photo by Benjamin Dada on Unsplash

Currently, when users set up WhatsApp Pay in India, the service only verifies the phone number linked to your bank account to enable UPI-based transactions

Facebook-owned WhatsApp may soon ask users to verify their identity to make payments on the platform. According to XDA Developers, new strings spotted in the latest WhatsApp beta release suggest that the messenger will require users to upload verification documents to continue using payments on WhatsApp. Currently, when users set up WhatsApp Pay in India, the service only verifies the phone number linked to your bank account to enable UPI-based transactions. In Brazil, the messenger uses Facebook Pay to validate users' credit or debit cards to facilitate payments.

At the moment, the service doesn't require users to submit any identity verification documents to make payments. However, that might change soon, the report said. WhatsApp v2.21.22.6 beta includes a few new strings which suggest that users might have to submit identity verification documents to continue using payments.

The identity verification might be limited to those who use WhatsApp Pay to receive payments for their businesses. UPI-based apps, like Google Pay, PhonePe and even WhatsApp Pay don't require users to submit any documents to transfer or receive money. However, wallet apps like PayTM do ask for KYC verification as per RBI guidelines.

WhatsApp is yet to make an official announcement regarding this change. Since the new strings have just made their way to the beta version, it might be a while before the company reveals any details, the report said. (IANS/ MBI)


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By Rajesh U. Pandya

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microscopic organisms Nails harbour abundant germs, bacteria and viruses and sharing nail clippers is equivalent to exchanging those microorganisms.| Photo by CDC on Unsplash

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