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Showing posts from November, 2018

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

Mercedes-Benz  "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. Mercedes-Benz  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 coo

Sweetgreen expands WeWork Delivery Partnership

sweetgreen salad sweetgreen 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". Inside a sweetgreen location sweetgreen This counts as part of these efforts aimed for a b

Tesco and Volkswagen partner for development of EV charging network

Tesco launched new discount chain Jack's to take on rising competition from the likes of Aldi and Lidl image : Tesco  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. image : Tesco 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, Swanse

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

Workday CEO Aneel Bhusri Photograph by Kevin Moloney/Fortune Brainstorm Tech 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. Workday CEO and co-founder Aneel Bhusri (middle) and LinkedIn co-founder and Greylock partner Reid Hoffman at the 2015 Fortune Brainstorm Tech conference. Photograph by Kevin Moloney/Fortune Brainstorm Tech 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 acquisi

Dell Records Revenue Surge prior to Vote on Public Market Return

Dell CEO Michael Dell Photograph by Stuart Isett/Fortune Brainstorm Tech 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. VMware CEO Patrick Gelsinger image : VMware  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 li

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

GM president Dan Ammann (left) introduces the company's Maven car-sharing service at an official event Photo : Steve Fecht for General Motors 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. (L to R) Cruise Automation COO Dan Kan, Cruise Automation CEO Kyle Vogt and General Motors President/Incoming Cruise CEO Dan Ammann Photo : Noa

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

image : Funcom 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

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

Asana co-founders Justin Rosenstein (left) and Dustin Moskovitz Asana 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. A depiction of Asana software Asana A depiction of Asana software   Asana It aims to use its new funding to fuel continued growth focused on key areas of Enterprise Scale, Global Expansion and Produ

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

The Microsoft HoloLens AR headset in display Microsoft 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. The Microsoft HoloLens AR headset in display Microsoft "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 consume

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

Box CEO and co-founder Aaron Levie image : TechCrunch on Flickr 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. image : TechCrunch on Flickr 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

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

Deliveroo 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. Deliveroo 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

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

Google 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 dragg

EV charging provider Chargepoint raises $240 million Series H round

Chargepoint 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. image : Chargepoint 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, dev

Most Read Posts

Cashing Out: Jeff Bezos Sells $2.5B Of Amazon Stock

Amazon founder Jeff Bezos has continued his routine selling of Amazon shares to fund his other escapades. For a few years now, he's had an arranged trading plan that sees him regularly sell Amazon stock worth billions of dollars. Jeff Bezos' latest sell-off is of 739,000 Amazon shares worth around $2.5bn, SEC filings show. Another separate filing indicated that he plans to sell as many as 2 million shares that could net him nearly $7bn at current prices. This latest share sell-off from Bezos is noteworthy as one of his last in his position as Amazon's CEO which he's handing off soon to a top lieutenant named Andy Jassy. Jassy is currently CEO of AWS, Amazon's very profitable cloud computing division. Usually, a CEO offloading large amounts of stock in a company he leads draws some displeasure from investors, but as Jeff Bezos would soon no longer be Amazon's CEO, it opens up opportunities to sell larger amounts of shares than usual if the desires. Amazon's

EVs: Ford, BMW Co-Invest In An EV Battery Startup

It's currently of no doubt that electric vehicles represent the future for the automobile market, and many automakers have taken heed to that. Tens of billions of dollars in spending have been earmarked for the R&D and production of electric vehicles by global automakers, with efforts spanning battery development, building new factories, charging stations et al. Now, two of the world's biggest automakers, BMW and Ford, have jointly invested in a startup working on battery technology for electric vehicles. That startup is Solid Power, a Colorado-based startup developing solid-state batteries for EVs. Details: Solid Power has raised a $130 million Series B round  co-led by Ford and BMW. The two automakers were joined by green-focused venture fund Volta Energy Technologies in the round. As part of the strategic round, Ford and BMW have expanded their joint agreements with Solid Power to develop solid-state batteries for their use. In a way, the two automakers are funding and o

Is Apple Brewing A Major Digital Health Play?

That Apple has high ambitions in the digital health space isn't foreign news to anyone following the moves of the company. In fact, its CEO Tim Cook once referred to health as Apple's “greatest contribution to mankind.” Apple's main health product is the Apple Watch for which health represents a major use case and a selling point. The latest Apple Watch series has key health features including the ability to measure ECG (electrocardiogram) and oxygen saturation level in the blood. With all its grand ambitions, the reality is that Apple is progressing very well in the digital health space but yet hasn't gotten a big foothold in it like it's done in other markets. There still exists a large gap for Apple to conquer to make waves in the digital health market and the company seems much hell-bent on covering that gap. Details: A certain revelation has come out that details Apple's grand plans in the health sector, and it's that of a UK startup working on next-ge

Big Pay: AT&T Shareholders Vote Against Execs Pay

To bring back one of our most favorite sayings, "America is the land of many things, including very enormous executive pay". Executives of publicly-traded companies in the US are familiar with very large compensation packages on a scale not seen in other countries, take recent examples including Palantir CEO Alex Karp landing a $1.1 billion payday  and former T-Mobile CEO John Legere getting a $137 million severance pay . But with all the large executive pay packages flying around, it appears that the shareholders of one public company are not okay with it and that company is telecoms giant AT&T.  Details: AT&T in a statement  revealed that the majority of its shareholders voted not in favor of the compensation of its executive officers in 2020. Just under 49% of votes were cast in favor of the compensation, leaving the remaining majority 51%, not in favor.  Last year, AT&T had large pay packages for its top brass including $21 million for CEO John Stankey and $52

Deal: Verizon Sells Yahoo And AOL To PE Firm For $5B

Telecoms giant Verizon has found a buyer for its Verizon Media Unit which includes veteran internet properties like Yahoo and AOL, and that buyer is a major private equity firm. To note, though Yahoo and AOL have long faded from their glory days, they aren't exactly dead properties but ones still with a great deal of users bringing in a few billion in revenue annually. Details: Verizon has struck a deal to sell 90% of Verizon Media to private equity firm Apollo which will pay $5 billion for it, while Verizon retains a  10%  minority stake in the business. The deal takes off many internet properties off Verizon's hands, including bigger ones like Yahoo and smaller ones like technology news site TechCrunch operating under the AOL umbrella. Though it's selling for a seemingly huge price of $5 billion, Verizon paid a combined $9 billion to buy the web properties making up its Verizon Media unit so it doesn't come out on top financially from the sale.  Verizon paid $4.4bn t

Germany's SAP Fined $8M For Violating Iran Sanctions

SAP, the German software giant, has agreed to pay a fine in the US for violating sanctions imposed by the country on conducting business in Iran. It'll pay over $8 million in fines after admitting to handling thousands of exports of its software to Iran violating US law. Details: SAP admitted to exporting US-origin software to Iran beginning in 2010 up until 2017. The exports including delivering software upgrades and patches more than 20,000 times to Iranian users and offering Iranian users access to US-based cloud services. As charged, executives at SAP were aware that the company didn't have geolocation protections to block downloads of its US-origin software in Iran and turned a blind eye to the situation.  SAP was also charged with neglecting to put in place adequate export control for cloud services made by some US-based companies that it acquired and integrated into its software suite. For the charges, SAP admitted guilt and reached a  Non-Prosecution Agreement with the

IPO: Cybersecurity Startup Darktrace Debuts On UK Markets

A major cybersecurity startup from the UK has held an initial public offering (IPO) and debuted to positive investor fanfare on the domestic public markets. That startup is Darktrace, a fast-growing cybersecurity startup founded by a team of mathematicians in collaboration with British intelligence agencies in 2013. Darktrace sells cyber-defense software that's claimed to harness artificial intelligence in spotting and managing cyber threats. It listed on the London Stock Exchange under the symbol "DARK". By the numbers: Darktrace debuted to positive investor fanfare that saw its shares soar by 40% on its first day of trading. It raised £143 million ($198m) from the public float at a valuation of £1.7 billion ($2.3bn) which soared to almost £2.4 billion ($3.3bn) on its debut trading day. Darktrace's IPO prospectus reports $199 million in revenue in its most recent fiscal year ending June 30, 2020. This was up from $137 million in the previous year, 2019, and $79 mill

Earnings: Pfizer Rakes In Cash From COVID Vaccine

Pfizer, one of the few pharmaceutical companies worldwide to produce an approved Covid-19 vaccine, has unveiled its earnings report for the first quarter of this year. As usual, the report provides a solid peek into the company's financials and with very noteworthy nuggets this time around. One key nugget from Pfizer's earnings report is that the company brought in $3.5bn in revenue from its Covid-19 vaccine in Q1' 21. It made up nearly a fourth of the company's total $14.6bn revenue for the period. The Covid vaccine was the biggest single source of revenue for Pfizer in the quarter. It's definitely a good time for the company in that regard, as it elected to keep the profit from the sale of its vaccines unlike some of its competitors which volunteered to waive off any profit-seeking from their vaccines. Unlike some of its competitors also, Pfizer didn't take money from the US government to fund the development of its vaccine under the Trump administration'

Earnings: Covid Vaccines Deliver Big Sales, Profit For Moderna

Moderna was among the few biotech companies that saved the day with the development of an emergency-authorized vaccine to tackle the Covid-19 pandemic. It was a breakthrough for the company, which was before then a cancer-fighting moonshot with minimal revenues and no working product. Being a publicly-traded company, Moderna is mandated to release quarterly earnings reports to the public and it has done so this time around, releasing its financial results for the first quarter of this year 2021. Moderna's latest earnings report shows that of a company that saw big success from its Covid vaccines, as it reported record revenue and its first-ever net profit as a public company. By the numbers: Moderna made $1.9bn in revenue in Q1' 21, compared to a paltry $8mn for the same quarter in 2020. The revenue came wholly from Covid vaccine sales in the US and foreign markets. Moderna reported a huge net income of $1.2bn in the quarter, compared to a net loss of $124mn for the same perio

Court Docs: Fortnite Maker Epic Made $15B In 2018-2020

Fortnite maker Epic Games is having a court battle with Apple over the latter's App Store practices and that battle has led to several documents coming out of the shadows with valuable information about Epic Games not publicly known before.  Among the information revealed in court proceedings between Epic and Apple is the sheer scale of Epic's revenue largely gotten from its hit game Fortnite . Official documents indicate that Epic Games made respective annual sales of $5.6bn, $4.2bn, and $5.1bn in 2018, 2019, and 2020, summing up to just shy of $15bn. Epic's revenue in 2018 and 2019 was revealed in financial documents made public as part of its court battle with Apple while its revenue for 2020 was separately revealed in a court testimony by Epic CEO Tim Sweeney. The vast majority of Epic's revenue comes from Fortnite while its other products like the Unreal Engine and the Epic Games Store bring in a minority of revenues. Specifically, Fortnite brought in $5.5bn a