Skip to main content

Elastic Acquires Endgame For $234 Million

Elastic -- a publicly traded company that builds custom search solutions for enterprises -- has announced it's acquiring cyber-security startup Endgame in an all-stock deal worth $234 million. The acquisition is subject to customary adjustments. Endgame has raised $111 million in total funding according to Crunchbase data. The $234 million acquisition price is a near 50% discount to a previous $465 million valuation (Pitchbook data).

Endgame's backers include Kleiner Perkins, Bessemer Venture Partners, Columbia Capital, Edgemore Capital, Savano Capital Partners and Paladin Capital Group. The Arlington, Virgina-based security startup's customers include the U.S. military and some Fortune 500 companies.


Elastic says the addition of Endgame will further advance its ability to offer a comprehensive security solution that's integrated with its own security information and event management (SIEM) products. "....By joining forces with Elastic, we will be able to take ou…

Ex Oracle executive Thomas Kurian to replace Diane Greene as head of Google Cloud

Incoming Google Cloud CEO Thomas Kurian

image : Oracle

Google Cloud head Diane Greene has announced she would be stepping down for that role with a notable replacement by name of Thomas Kurian, the former President of Product Development at Oracle who resigned from that position this year after being with the company for 22 years.

Kurian, a respected technologist and executive will officially join Google Cloud on the 26th of this month and will transition to the leadership role early next year. Greene will continue to lead till January and will remain a Director on the Alphabet board after Kurian takes over.

Outgoing CEO Diane Greene

Google

Microsoft APAC

"The Google Cloud team has accomplished amazing things over the last three years, and I’m proud to have been a part of this transformative work. We have moved Google Cloud from having only two significant customers and a collection of startups to having major Fortune 1000 enterprises betting their future on Google Cloud, something we should accept as a great compliment as well as a huge responsibility." Greene said in a blog post announcing her departure highlighting Google's progress in the cloud ecosystem led by Amazon and Microsoft.

"In a few short years, under Diane’s leadership, Cloud has become an incredible business built on Google’s decades of investment in infrastructure, data security, and AI. Today, those investments are available to everyone and truly changing the way people work." Google CEO Sundar Pichai also said.

Google CEO Sundar Pichai

image credit : Maurizio Pesce on Flickr

"I have deep appreciation for everything Diane has done and I’m super happy that we’ll continue to benefit from her wisdom as she continues serving on our Board of Directors. We’re really excited to welcome Thomas whose product vision, customer focus, and deep expertise will be a huge asset to our growing Cloud business." Pichai stated.

Kurian is bringing what counts as deep experience in the technology scene to Google having worked his way up from Vice-President of Oracle's e-Business division to taking leadership of the Oracle Fusion Middleware product family with a tenure that witnessed this unit become company's fastest-growing business.

image : Oracle

He also served as a Senior Vice President of Oracle's Server Technologies Division and later as President of Product Development where he oversaw Oracle's 3,000-odd product development efforts. He announced he will be taken time off from the company on the 6th of September and tendered a resignation on the 28th of September in a move that reportedly came about after clashes with Oracle boss Larry Ellison over the company's cloud strategy.

"I'm excited to join the fantastic Google Cloud team at this important and promising time. I'm looking forward to building on the success of recent years as it enters its next phase of growth." Kurian said in a statement.


Comments

Most Read Posts

Angela Ahrendts Joins Airbnb's Board

Airbnb has added former Apple retail chief and ex Burberry CEO Angela Ahrendts to its board. She'll serve as the company's third independent non-affiliated board member, the other two being former American Express CEO Ken Chenault and former Pixar Studios CFO Ann Mather (who also serves on the boards of Netflix, Alphabet, Arista Networks, Glu Mobile and Shutterfly).

Ahrendts led global retail at Apple for five years before stepping down this year to be replaced by three decade running Apple Veteran Deirdre O’Brien. Prior to Apple, she spent eight years as CEO of British luxury brand Burberry. She also spent 25 years in New York as an executive at fashion brand Liz Claiborne and as President of Donna Karan International prior to Burberry.


Other notable Airbnb board members include LinkedIn co-founder Reid Hoffman, Sequoia's Alfred Lin, Andreessen Horowitz's Jeff Jordan, and co-founders Joe Gebbia, Brian Chesky, and Nathan Blecharczyk.



Boosted Boards Nabs $60 Million Series B Funding

Electric skateboard manufacturer Boosted has raised $60 million Series B funding co-led by Khosla Ventures and iNovia Capital with participation from existing investors Stanford-StartX Fund and Bay Meadows. This rounds brings the total raised by Boosted to over $70 million and will see former Google CFO and iNovia partner Patrick Pichette move from an existing independent board position at the company to a preferred board seat.

"Today’s generation is quickly adopting light electric vehicles as a superior way to commute, saving both time and money over existing options while enjoying the ride," Boosted CEO Jeff Russakow says. "However, the majority of lightweight vehicles on the street today are leisure-grade or toy-grade products, when riders need vehicle-grade products that provide exceptional acceleration and braking performance, safety, durability, and superior design."


"Boosted has been perfecting street-quality technologies for the electric skateboard ma…

Meet goPuff, A Low-key Delivery Company Worth $1 Billion

The food-delivery market is one with intense competition. The likes of DoorDash, Uber Eats, Postmates, Deliveroo, Swiggy, Just Eat, Yelp Eat 24, and more are steadily competing for global market share while also raising huge funding. Just recently, Deliveroo raised $575 million in a round led by Amazon. DoorDash has also raised $600 million Series G funding at a $12.6 billion valuation.

Amid the intense battle, it turns out there's one hot startup that has stayed low key to avoid the eye of rivals, but it seems word is getting out. That low-key hot startup is goPuff, on-demand convenience store delivery app that was valued at $1 billion last November after a financing round, according to regulatory filings reviewed by The Information. goPuff ships products to customers from centrally located facilities -- as opposed to direct pickup from stores -- in 81 U.S. cities.


The company -- based in Philadelphia -- stocks more than 3,000 products at its facilities which it then ships to cu…

Affirm Raises $300 Million Thrive Capital Led Round

Affirm - the online lending startup led by PayPal co-founder Max Levchin - has raised $300 million Series F funding led by Joshua Kushner's Thrive Capital, with participation from new investors Ashton Kutcher and Guy Oseary’s Sound Ventures, Baillie Gifford, Wellington Management and Fidelity, and returning investors GIC, Founders Fund, Spark Capital, Ribbit Capital, Lightspeed Venture Partners, and Moore Asset Backed Fund.

Affirm has now raised $800 million in total funding, with this round valuing the company at $2.9 billion according to Axios. Thrive Capital is getting a board seat at Affirm with its investment. The company has also announced new additions to its board and executive team. Former Groupon executive Silvija Martincevic is joining as Chief Commercial Officer, former PayPal executive Greg Fisher is joining as Chief Marketing Officer, ex OpenTable CEO Christa Quarles is joining as an independent board member.


Affirm, which allows its customers get loans of up to $15…

Wall Street Arrange Big Loans For China's Unicorns

Several investment banks -- like Goldman Sachs and Morgan Stanley -- are known to have arranged big loans for U.S. tech unicorns. Companies that have taken on such big loans include the likes of Uber, Opendoor, WeWork, Dropbox, SpaceX, SoFi and Affirm to name a few. But recently, China's Bytedance got a $1.34 billion loan from a group dominated by Wall Street banks, pointing to a new area of interest from Wall Street lenders; Chinese companies.

China's tech unicorns are not conventionally known for taking on big loans, but this may be changing, with a Bloomberg piece stating that Goldman Sachs and Morgan Stanley are arranging an up to $1 billion debt facility for Chinese real estate brokerage Beike Zhaofang, not too long after the brokerage secured $800 million in funding. Bloomberg also says Guazi -- fresh off  $1.5 billion in funding from Softbank earlier this year -- is in talks with banks for a credit facility of up to $400 million.


With historically low borrowing costs, …

Grab Reportedly Eyeing Banking License

According to a Reuters report, Grab -- the Singapore-based ride-hailing company valued at $14 billion -- is considering getting a banking license to offer online-banking services in Singapore as regulators in the city-state consider allowing online-only banks to operate. Reuters says Grab is close to enlisting a consultancy to give advice on its banking potential and is preparing to apply for a digital-only bank license if Singapore regulators open up the sector.

If this happens, it'll mark Grab's first foray into banking, not surprising given its massive funding ($8.8 billion total, according to Crunchbase data). Grab may be looking for ways to expand its reach and market prospects, with digital banking being attractive thanks to Southeast Asia’s growing payments market.


The Monetary Authority of Singapore (MAS) said last month that it was looking into the potential for letting “digital-only banks with non-bank parentage” into Singapore's market. According to Reuters, th…

Volvo And Uber Debut New Automated Car

Volvo and Uber have teamed up for a new self-driving car that'll be equipped with self-driving features at the factory level as opposed to fitting already made cars with Uber's own self-driving technology. The new vehicle is a Volvo XC90 SUV that the automaker says is "capable of fully driving itself" when combined with technology developed by Uber ATG.

The new self-driving vehicle is equipped with more safety features, the most prominent being back-up systems for steering and braking functions. The systems are designed to get the vehicle to a halt if any of its primary systems fail. There's also battery back-up power for the vehicles.


Volvo and Uber entered a commercial agreement in 2016 for Volvo to supply tens of thousands of self-driving vehicles in coming years. This new vehicle is based on the partnership.

Volvo plans to put this new vehicle to work by 2020.



Facebook Unveils Digital Currency

After several reports of Facebook working on a digital currency, the company has officially unveiled just that. Today, Facebook divulged details of a new cryptocurrency, Libra, that'll let people purchase things or transfer money to people with close to zero fees. Users will be able to buy or cash out their Libra online at local exchange points, and spend it using third-party wallet apps or Facebook's newly announced wallet, Calibra. Calibra will be offered as both a standalone app, and within the WhatsApp and Messenger apps.

 Facebook won't exert full control of Libra, but has instead assembled a team of founding members that'll each get a single vote (including Facebook itself) in the governance of the new digital currency. The partners (a quite reputable list) have each invested at least $10 million into Libra's operations. They include:
StripePayPal CoinbaseVisaMastercard PayU UberLyftSpotifyBooking Holdings Farfetch Andreessen Horowitz Vodafone Thrive Capital …

Domino's And Nuro Partner For Autonomous Pizza Delivery

Nuro -- a company making driverless delivery vehicles that's backed by more than $1 billion in funding, including a $940 million round led earlier this year by the Softbank Vision Fund -- has partnered with popular pizza franchise Domino's to deliver pizza to customers with its self-driving vehicles. A pilot program will kick off in Houston, Texas -- where Nuro already delivers groceries -- to deliver pizza to some customers.

The customers who will receive orders from Nuro's autonomous vehicles are those that order from one of Domino's participating stores. Once they order, customers will be able to track Nuro's delivery vehicles within the Domino's app, and will also be provided with a PIN to unlock the vehicle's compartment -- where their pizza is stored -- once it reaches their destination.

The name Nuro may be familiar, as it also delivers groceries for Kroger, the largest grocery chain in the U.S. The company, in December, kicked off a pilot grocery d…

Softbank Leads $205 Million Round For Collective Health

Collective Health -- a San Francisco based enterprise healthcare startup with additional offices in Chicago and Lehi, Utah -- has raised $205 million in new funding led by the Softbank Vision Fund, with participation from DFJ Growth, G Squared, PSP Investments and existing backers including GV, Founders Fund, NEA, Mubadala Ventures and Maverick Ventures.

Collective Health will make use of the new funding to accelerate adoption of its enterprise healthcare platform and deepen partnerships with companies that use its platform to provide health insurance for their employees. The company will strengthen its engineering, sales and customer experience teams across its three offices.


Collective Health already has 200,000 members, 45 enterprise clients and 80 health partners linked on its platform. Its clients include companies like Pinterest, Red Bull, Zendesk, Driscoll's, Restoration Hardware and more.

Collective Health is looking to crack an estimated $1.2 trillion employer health ins…