Axios

Romeo Power, a 2-year-old startup, has raised $30 million in seed funding to build what it says are better custom lithium ion battery packs. The company will also open its new factory in Southern California by the end of the year.

Why it matters: Batteries are becoming increasingly critical with the rise of electric cars and the development of new technologies like drones and vertical take-off and landing vehicles. Batteries can also help with managing energy in commercial and residential buildings, and can even help people in areas with lower access to electricity.

There's a new upcoming IPO on the docket. But in an unusual twist, it's from a pair of venture capital firms—Social Capital and Hedosophia—according to an SEC filing. It plans to trade on the New York Stock Exchange under the symbol "IPOA.U."

What it is: Social Capital Hedosophia Holdings Corp. is essentially a shell company that will go public and raise funds with the goal of acquiring or merging with a private company (which hasn't been selected yet). This transaction will allow the latter to skip over the arduous process of an IPO while also enjoying the benefits of being a publicly traded company. The company will also benefit from the capital injection of merging with this entity. Social Capital declined to comment.

Four out of five shows watched on Netflix were found by subscribers thanks to recommendations offered them, AP's Frazier Moore reports:

• "Most every row of program suggestions (even generic-seeming categories like "Comedies" and "Dramas") is tailored for each subscriber."
• "[A] legion of Netflix 'taggers' screens every program, tagging different elements that compose it."
• "Viewer habits gathered by Netflix from its 100 million accounts worldwide add more grist to the mill."
• An example of the secret sauce: "[F]ans of the 2015 film 'The Big Short,' which deals with Wall Street dirty tricks, have been found to respond to the money monkeyshines that animate 'Ozark.'"

From Variety, estimated salaries of some of TV's highest-paid reality, news and talk show hosts:

• Ellen DeGeneres, "The Ellen DeGeneres Show" (syndicated), $50 million
• Judith Sheindlin, "Judge Judy" (syndicated), $47 million
• Matt Lauer, NBC's "TODAY" show, $25 million
• Katy Perry, ABC's "American Idol," $25 million
• Kelly Ripa, "Live with Kelly and Ryan" (syndicated), $22 million

More top earners:

• Megyn Kelly, NBC News, $18 million
• Robin Roberts, ABC's "Good Morning America," $18 million
• Jimmy Fallon, NBC's "Tonight Show," $16 million
• Stephen Colbert, CBS' "The Late Show," $15 million
• Jimmy Kimmel, ABC's "Jimmy Kimmel Live," $15 million
• Pat Sajak, "Wheel of Fortune" (syndicated), $15 million
• Ryan Seacrest, "Live with Kelly and Ryan" (syndicated), $15 million
• George Stephanopoulos, ABC News, $15 million
• Anderson Cooper, CNN, $12 million
• David Letterman, untitled forthcoming interview show (Netflix), $12 million
• Conan O'Brien, TBS' "Conan," $12 million
• Ryan Seacrest, ABC's "American Idol," $12 million
• Alec Baldwin, ABC's "Match Game," $3 million
• Jamie Foxx, Fox's "Beat Shazam," $3 million
• Mike Myers, ABC's "The Gong Show," $3 million

Go deeper ... Cover story by Cynthia Littleton, Managing Editor: Television (with charts for Drama, Comedy and Reality/News/Host) ... Salaries of TV's comedy stars (slide show) ... "The Fight for Equal Pay: Women, Minorities on TV Still Making Less Than White Men," by Senior TV Reporter Daniel Holloway.