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Showing posts from November, 2018

WeWork Publicly Unveils IPO Filing

A recent report that WeWork was preparing to unveil its IPO filing this week has proved true, with the co-working space company having done just that. WeWork just unveiled its S-1 filing with the SEC, revealing much previously unknown info and metrics of its business. Key takes from WeWork's S-1 filing include:
527,000 members as of Q2 2019 end, up from 401,000 in 2018 and 87,000 in 2016. More than 50% of WeWork's members are outside the US.528 WeWork locations (across 111 cities) worldwide, up from 425 (across 100 cities) in 2018 and 111 (across 34 cities)  in 201638% of the Global Fortune 500 are customers$1.54 billion revenue in the first half of this year, but with a $905 million loss in the same period. This is up from $764 million revenue in the first half of 2018 and a $723 million loss in the same period$320 million sales and marketing spend in the first half of this year, up from $140 million in the first half of 2018$3.3 billion revenue run rate (as of Q2 end), up fr…

Mercedes-Benz envisions Empathy as Anchor for automobile Digital Transformation with its cooperative vehicle concept

"At Mercedes-Benz we are convinced that the digital transformation can only be designed successfully if it is deeply anchored within society. Humans and access to data must be at the heart of a digital transformation," Daimler's Head of Research for Future Technologies Jasmin Eichler says.

"That is why we are also working on solutions in the field of digitalisation which place the freedom, decision-making autonomy and individuality of human beings at their centre. We aim to create a balance between humans and technology. The approach we are following here is "Human first"." This signals the direction of Mercedes Benz concerning digital transformation hitting the automobile industry in full force.





At the FutureInsight event which held recently on 21 and 22 November in Berlin, Mercedes focused on empathy and trust as topics regarding inspiration for future mobility solutions and has showcased that in a cooperative vehicle concept with features such as …

Sweetgreen expands WeWork Delivery Partnership

Salad chain sweetgreen is widening a pilot program with WeWork that provides its members with free delivery through order ahead locations set across several WeWork locations in the U.S. Various locations in seven cities namely its homebase of New York, San Francisco, Washington, D.C., Boston, Philadelphia, Chicago and Los Angeles have been fitted with order ahead sweetgreen units as WeWork works on a plan to cover 50 of its locations with this service.

WeWork members and employees can order via sweetgreen's platform with a select of specific locations for pickup which sweetgreen drivers then deliver to. Sweetgreen recently raised $200 million in a round led by Fidelity at an over $1 billion valuation stating of the investment positioning it "to create a new food platform with expanded menu categories and innovative retail formats".


This counts as part of these efforts aimed for a boost in restaurant expansion, outposts, digital platform, blockchain tech and social impac…

Tesco and Volkswagen partner for development of EV charging network

British retailer Tesco and Volkswagen have teamed up for the development of what would count as the country's largest electric vehicle charging network powered by charging infrastructure provider Pod Point which will offer customers free charging for their vehicles using a normal 7kW charger or the use of a 50 kW charger for a cost in-line with market rates.

Over 2,400 charging bays will be rolled out across 600 Tesco locations within the next 3 years for this effort playing part in support of a transition to a low-carbon, clean air UK. It builds on Tesco's commitment made last year to 100% renewable electricity use by 2030.


As of current, charging infrastructure is available in 19 Tesco locations including stores in the regions of Bromley by Bow, Cefn Mawr, Elmers End, Haddington, Stourbridge, Sunderland Retail Park, Swansea Llansmlet, Watford and Woolwich among others.

Pod Point is already an official charge point supplier for major auto brands including Volkswagen, Jaguar …

Workday Records over 30% Revenue Growth from Previous Year with $743 million quarterly revenue

Cloud software company Workday recorded revenues of $743.2 million for its fiscal 2019 third quarter ended October 31, 2018 marking a 33.8% increase from the same quarter last year thanks to growth across its suite of enterprise products.

Subscription revenues for the quarter came at $624.4 million as per its recently released financial results also marking an increase of 34.7% from the same period last year. Operating cash flows for the quarter were $114.3 million while free cash flows came at $58.9 million.


Also in this period, Workday hit various milestones which includes going live on Adaptive Insights Business Planning Cloud in just 10 weeks building on its $1.55 billion acquisition of the company, unveiling its Workday People Analytics software, ranking number one on the Fortune Future 50 list recognizing global companies with the best prospects for long-term growth and holding of its 12th annual customer conference, Workday Rising, in Las Vegas along with its fifth annual Euro…

Dell Records Revenue Surge prior to Vote on Public Market Return

Dell Technologies reported a 15% surge in quarterly revenue this Thursday in what counts as its last financial disclosure prior to a vote on a VMware tracking stock deal that could see the company return to trading on the public markets.

Dell reported sales of $22.5 billion for the period ahead of voting by shareholders for a buyback of shares bound to to its 81% economic stake in VMware which would return the company to trading on the stock market without the process of a conventional public offering.


Dell recently increased its offer for VMware tracking stock to $23.9 billion or $120 a share which won backing from shareholders including including Icahn Enterprises chair Carl Icahn who had previously pushed against the deal and activist fund Elliott Management.

A jump in revenue for Dell's Client Solutions Group which consists of products like peripherals, PCs and tablets came at 11% and can be attributed to Microsoft's decision to end support for its Windows 7 OS in 2020. B…

GM President Dan Ammann taking up new role as head of Autonomous Vehicle unit

General Motors president Dan Ammann is now taking a new role as CEO of Cruise Automation, The company's autonomous vehicle unit as longtime lead and co-founder Kyle Vogt leads technology development now as president and chief technology officer. These new appointments announced by GM are effective beginning 2019.

Cruise has come into view as a leader in the autonomous vehicle space under Vogt's leadership spanning from its start in 2013 to its acquisition by General Motors 2 years ago. It has grown from 40 employees as of acquisition time to over 1,000 at its San Francisco headquarters and has also announced plans to expand into Seattle with the addition of 100-200 employees.


Ammann spearheaded the 2016 acquisition of Cruise and stands familiar with the company's team, business and technology. Among other global responsibilities, He oversaw GM's relationship with Cruise which has grown from a $581 million acquisition to a $14.6 billion post-money valuation after a rec…

Gear up for launch of "Mutant Year Zero: Road to Eden" on the 4th of December

Tactical adventure game Mutant Year Zero: Road to Eden will launch on the 4th of December globally for the PC, Xbox One and PS4 bringing what counts as "a game combining the tactical, turn-based combat of XCOM with real-time stealth and exploration of a detailed, post-human world."

Gamers who get their hands on the new title will play as a team of mutants in a world damaged by nuclear war, pandemics, and climate change where they'll explore in real-time and traverse for scraps and resources to assist their settlements.



In the process of exploring, Players will face enemies as the game switches to tactical turn-based mode bringing a fun experience involving battles and various challenges. Based on the the Swedish pen-and-paper RPG Mutant Year Zero, stealth and planning are key to taking on enemies in this new title, attacking the enemy head-on as done in most turn-based tactical games is not suited for the Road to Eden.

A sneak up on the enemy will serve better in a worl…

Asana nabs $50 million Series E round at $1.5 billion valuation

Asana, the collaboration software startup founded by Facebook co-founder Dustin Moskovitz and early employee Justin Rosenstein has raised $50 million in Series E funding led by Generation Investment Management with participation from existing investors 8VC, Benchmark Capital and Founders Fund and new investors Lead Edge Capital and World Innovation Lab.

This round which brings the total raised by Asana to $125 million this year came at a valuation of $1.5 billion marking a new entrant into the unicorn club. San Francisco based Asana with more than 50,000 paying enterprise customers and millions of free enterprise users across 195 countries has now raised $213 million in total since founding.



It aims to use its new funding to fuel continued growth focused on key areas of Enterprise Scale, Global Expansion and Product Innovation as per its statement. These areas specifically include expansion of global infrastructure with the opening of a new data center in the German city of Frankfurt…

Microsoft secures $480 million contract to supply U.S. Army with HoloLens units

Microsoft has secured a $480 million deal with the U.S. Army to supply prototypes for augmented reality systems for use in training and in combat missions according to Bloomberg citing official confirmation from a company spokesman.

This deal could eventually lead to the purchase of 100,000 of Microsoft's HoloLens AR headsets according to Bloomberg and is aimed to “increase lethality by enhancing the ability to detect, decide and engage before the enemy,” quoting a government description of the initiative.





"Augmented reality technology will provide troops with more and better information to make decisions. This new work extends our longstanding, trusted relationship with the Department of Defense to this new area,” a Microsoft spokesperson said in an emailed statement to Bloomberg.

The HoloLens is one of the leading hardware in the consumer AR space with 50,000 sold according to a video made for the European Patent Office this spring but counts itself in a market not so larg…

Box reports Record Revenue and lesser-than-expected Losses amid Customer Growth

Cloud storage company Box reported lesser-than-expected losses for its fiscal 2019 third quarter as it inked a record $155.9 million in revenue thanks to over 40% growth in deals greater than $100,000 and addition of new customers bringing its total to over 90,000.

Net loss for the same period came at $40.2 million ($0.28 a share) as compared with $42.9 million ($0.32 a share) a year earlier. Its customer base is up from 87,000 the previous quarter to the 90,000 figure thanks to new and expanded deals with the likes of 23andMe, BBVA Compass, Mizuho Bank, National Bank of Canada, Radian Group, Shiseido Company, and Sunbelt Rentals.


During this quarter, Box hosted the eight annual BoxWorks conference that lured a record number of Fortune 1,000 attendees, announced updates to Box Tasks and Automations, launched the general availability of the Box for Gmail add-on and the beta of the Box for G Suite integration, announced support for custom-trained AI models for Box Skills and also added…

Deliveroo reportedly looking to raise $400 million at a $4 billion valuation

Deliveroo is said to be seeking more investment into hundreds of millions at a valuation of between $3 billion - $4 billion on a raise of between $350 million - $500 million as per a recent report from Sky News amid reported acquisition interest from Uber.

As per Sky, This fundraising doesn't stand as urgent with Deliveroo still sitting on hundreds of millions in cash from previous rounds. The company was last valued at $2 billion after a $385 million round Series F round last year September led by Fidelity, It has raised over $800 million in funding till date.


A September report indicated of Uber having an interest in acquiring U.K. based Deliveroo to boost its share in the food delivery market which stands as a main part of the company's business alongside ride-hailing. Sky says persons close to Deliveroo have suggested of no active talks between both companies although anticipation stands concerning renewed interest from Uber.

Deliveroo more than doubled revenue to £277 mi…

Here are 10 things to know about the Pixel Slate and its separately sold Keyboard

The Pixel Slate tablet bundled with Google Assistant became one of the newest members of the Made by Google hardware family earlier this fall as consumers got a uniquely designed device powered by Chrome OS packed with a long-lasting battery for getting work done on the go.

The Pixel Slate is now available for purchase and letting customers know of its key features is an important thing to do. A list of 10 things to know about the Pixel Slate and its separately sold Pixel Slate Keyboard as highlighted by Google is presented below:

It's Comfortably handheld : Weighing in at 1.6 lbs and 7 mm thin, it has a slim profile coupled with a curved glass which makes it easy to hold.It gives a state-of-the-art viewing and gaming experience thanks to the new Molecular Display feature that delivers a sharp picture paired with dual front firing speakers for the best experience.It helps get work done from anywhere with multitasking features like split screen and draggable tabs. An attachment of …

EV charging provider Chargepoint raises $240 million Series H round

EV charging network Chargepoint has secured $240 million in Series H funding from a diverse set of investors ranging from early market to institutional investors across the VC, financial, manufacturing, oil and gas, energy, utility, technology and automotive sectors.

These include lead investor Quantum Energy Partners, American Electric Power, Canada Pension Plan Investment Board, Chevron Technology Ventures, Clearvision, Daimler, GIC and existing investors BMW i Ventures, Braemar Energy Ventures, Linse Capital, and Siemens.


Campbell, California based Chargepoint has now raised over $500 million in funding with this latest coming just over a year from a Series G round that fueled the company's move into the European market. Chargepoint counts over 57,000 independently owned public and semi-public charging spots and thousands of customers including businesses, agencies, cities and service providers across its network.

It designs, develops and manufactures the hardware and software…

Most Read Posts

Airbnb Reportedly Records 30% Growth Rate In Q1

According to a report from the Wall Street Journal, Airbnb recorded a 31% surge in gross bookings in the first quarter of this year, with a total booking value of $9.4 billion for the period. The Wall Street Journal reports Airbnb booked 91 million nights on its platform in Q1, and grew revenue 40% year-on-year in the period. According to WSJ, Airbnb had about $3.5 billion in cash on its balance sheet as of Q1 end (March 31st) this year.

If such report stands true, Airbnb could be leaving investors hungry for an IPO that the Wall Street Journal reports is scheduled for the first half of next year. $35 billion valued Airbnb is already profitable, making it stand out among several tech companies (e.g. Uber, Lyft, Medallia, Dynatrace, Livongo) that have gone public this year without being profitable. Three others that filed for an IPO just this week (WeWork, Cloudflare and SmileDirectClub) are also not profitable.

One other standout tech company is Zoom, a video communications company th…

Root Has Reportedly Raised $350 Million At A $3.5 Billion Valuation

Today is just few days short of a year after Root Insurance raised a $100 million Series D funding that valued it at $1 billion. That round was led by Tiger Global, with participation from Redpoint Ventures, Ribbit Capital, and Scale Venture Partners. Just shy of a year after, Axios reports Root has raised $350 million in funding at a $3.5 billion valuation, entailing a more than triple in valuation in a relatively short span.

Root was founded in 2015, and has raised $177 million in known funding [before this reported round]. The Columbus, Ohio-based startup offers car insurance to drivers in 27 U.S. states. Root's insurance process is entirely carried out on the smartphone. Leveraging smartphone tech and data science, Root measures driving behavior alongside some other factors to gauge insurance policies for drivers. In simple terms, Root is auto insurance doused with a bit of technology, as opposed to the traditional way it's done. It's in the same court as Bond, anothe…

Splunk Acquires SignalFx For $1 Billion

Splunk has announced that it's acquiring SignalFx, a San Mateo-based cloud monitoring startup, for $1.05 billion. Splunk is paying 60% of the $1.05 billion figure in cash and the remainder in stock. The acquisition is expected to close in the second half of this year. Before now, SignalFx had raised $179 million in funding, including a recent $75 million round. The San Mateo-based company was backed by blue-chip VCs like Andreessen Horowitz, General Catalyst, Tiger Global and Charles River Ventures. As of its recent fund-raise, SignalFx had 270 employees.

SignalFx's platform enables developers to monitor cloud infrastructure, microservices, and applications in real-time. Its platform collects and analyses metrics for developers, acting as a troubleshooter that lets them find the root cause of issues in shorter times [than conventional methods]. Splunk on the other hand makes software that's used for searching, monitoring and analyzing large data, something related to Sign…

The Two Biggest Postmates Users - Post Malone And Kylie Jenner

We might be familiar with Postmates, if you're not, it's the San Francisco based delivery startup valued at $1.85 billion from a recent $100 million round. With a reported $400 million in revenue on gross sales of $1.2 billion the company expects for its 2018 fiscal year, Postmates is among the leaders in on-demand delivery, operating in 550 U.S. cities including Mexico City, with access to over 250,000 merchants available on its service.

According to the company, New York born and Texas raised rapper Post Malone is its number one user, having requested nearly 3,000 total items, spread across over 660 orders, in 52 different U.S. cities. Malone spent over $40,000 on Postmates in the past year, ordering items including $8,000 worth of biscuits for a Coachella party, $100 worth of buffalo sauce, latex gloves, calcium crickets, Tito's Vodka, ice bags, cranberry cocktail juice and four bottles of cabernet sauvignon.


He also made a notable kind gesture, tipping a Postmates sho…

Kai-Fu Lee's AI Startup Eyes IPO

Kai-Fu Lee is a name that should ring some bells. If you're not familiar, he's a prominent Chinese computer scientist, venture capitalist and entrepreneur who has held executive positions at Apple, Microsoft and Google. He began as a faculty member at the well-known Carnegie Mellon University, before taking up research positions at Apple and Microsoft. Post-Microsoft, he headed Google China, before leaving to launch a venture fund, Sinovation Ventures.

While still at Sinovation Ventures [he serves as its CEO], Kai-Fu Lee launched AInnovation, a company that develops AI products for firms in industries like retail, manufacturing and finance. Some of its customers include Mars, Nestle, Foxonn, Carlsberg, the Postal Savings Bank of China and China Everbright Bank. AInnovation, which was launched in March 2018, operates as a subsidiary under Sinovation Ventures.

In a recent interview with Bloomberg, Lee said AInnovation is on track to hit $100 million in revenue within two years o…

More Info From Cloudflare's S-1 Filing

Cloudflare, a San Francisco-based CDN provider that routes traffic for 18% of the world's top 10,000 websites, recently filed to go public. As always, the company's S-1 filing revealed much info and metrics of its business. Our recent article [on Cloudflare's IPO filing] touched on several of the metrics, but we're here with more info [on this article] from Cloudflare's IPO filing.

Below are some elaborated [key] points from Cloudflare's S-1 filing:
$84.8 million revenue in 2016, $135 million in 2017 and $192.7 million in 2018Cost of revenue was $24 million in 2016, $28.8 million in 2017 and $43.5 million in 2018.Gross profit (profit before operating expenses) was $60.8 million in 2016, roughly $106 million in 2017 and roughly $149 million in 2018. This can be gotten from a simple calculation of revenue-cost of revenue.$23.7 million R&D spend in 2016, $33.7 million in 2017 and $54.5 million in 2018An R&D team that's spread across three locations: Lo…

Ten Robotics Startups To Watch This Year

Robotics is a wide field with several use cases, including healthcare, warehouse and inventory management, security, bionics, industrial ops, agriculture, education and more. Startups in this industry collectively raised $2.7 billion in VC funding in 2017, signalling solid investor confidence in the industry. Between 2018 and so far this year, several robotics startups have collectively raised hundreds of millions in funding, a recent example being Fetch Robotics, which is fresh off $46 million in Series C funding.

A big acquisition also happened this year; Johnson & Johnson's purchase of Auris Health for $3.4 billion, with additional payments of up to $2.35 billion tied to certain milestones. Auris develops surgical robots used for diagnostic and therapeutic procedures in the human lung.

Activities like the aforementioned indicate the robotics field is a very promising one. That's why we are here with this article to show you ten robotics startups to watch this year. The…

Monday.com Raises $150 Million At A $1.9 Billion Valuation

Monday.com, an Israeli founded workplace collaboration startup, has announced $150 million in Series D funding that TechCrunch reports values it at $1.9 billion, nearly four times a $500 million valuation last year. Sapphire Ventures led the funding, with participation from Hamilton Lane, ION Crossover Partners, Vintage Investment Partners, and HarbourVest Partners. The funding brings the total raised by Monday.com to $234 million.

A $1.9 billion valuation is really impressive for a startup that launched five years ago. What's more impressive is a near-quadruple in valuation in a one-year span. Monday.com's growth should justify that, with more than 80,000 customers currenctly compared to 35,000 a year ago. Monday.com's customers include well-known names like WeWork, Hulu, Glossier, Phillips, Zippo, and hundreds of Fortune 500 companies. Its customers are spread across 140 countries.


Monday.com's workplace collaboration software has integrations with several popular t…

Salesforce Records $4 Billion Fiscal Q2 Revenue

Salesforce just announced its financial results for its fiscal second quarter ended July 31, 2019, showing $4 billion in revenue, a 22% increase from the same period last year. Subscription and support sales accounted for $3.75 billion in revenue, while Professional services and "other revenues" accounted for $252 million.

Salesforce shares rose 7% during after hours trading following the release of its quarterly results. Salesforce was seemingly on a spree this quarter, having made two big acquisitions: Tableau Software and ClickSoftware. In June, Salesforce reached a deal to acquire Tableau Software for $15.7 billion in stock, followed by a recent acquisition of ClickSoftware for $1.35 billion. Tableau was a publicly traded company, having been so for six years before the acquisition deal was reached. ClickSoftware on the other hand was purchased from private equity firm Francisco Partners, which earlier [in 2015] acquired it for $438 million.

"An enormous wave of di…

Ten Smart Home Startups To Watch

The smart home market is a nascent but rapidly growing one. According to research from Markets and Markets, the smart home market was valued at $76.6 billion in 2018 and is expected to grow to $151 billion by 2024. This is not surprising given the broadness of the smart home industry. The industry spans various fields, including entertainment, home security, lighting, energy management, kitchen appliances, smart speakers, WiFi, cybersecurity and more. These are all major parts of a home, and have attracted big tech companies and smaller startups alike to develop smart home solutions for these areas.

Although the smart home market is dominated by the bigger companies like Google, Amazon, Samsung, General Electric, Schneider Electric and more, there are several startups that have graced the markets and made good strides with various smart home products. Such startups have made smart home devices for various activities, including pet monitoring and feeding, cooking, air-tracking and reg…