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Google To Spend $1.1 Billion On New Data Centers

Google Cloud CEO Thomas Kurian image: Google Google has said it would spend 1 billion euros ($1.1 billion) to expand its data center infrastructure in the Netherlands. The tech giant will build a new facility in Agriport, a large scale greenhouse development in the Netherlands, and also expand an existing data center in Eemshaven, a seaport located in the north of the Netherlands. In an official statement, Joe Kava, vice president of Google’s Global Data Centers, said that the Netherlands was appealing for its "ample sustainable energy sources", which explains why a new facility is being built in Agriport, the Netherlands' largest greenhouse horticulture region. Google's new 1 billion euros investment is in addition to 1.5 billion euros already invested in its Netherlands data center operations, as announced by the company last year. Google CEO Sundar Pichai image: Google The company didn't enumerate what its new facilities would be used for.

Shopify To Spend $1 Billion On U.S. Fulfillment Centers

Shopify CEO Tobias Lütke Photo by David Fitzgerald/Collision via Sportsfile At its annual developer conference in Toronto, e-commerce platform Shopify announced plans to spend $1 billion to launch a network of fulfillment centers in the U.S. that'll help its merchants deliver goods faster and at lesser costs. This move is likely targeted at keeping up with competition from Amazon. “A large number of orders are lost in the final stages due to complex shipping costs,” Shopify's chief product officer Craig Miller said at the developer conference. The U.S. fulfillment centers will leverage machine learning to predict demand and suggest nearest fulfillment centers to Shopify merchants. A Shopify point-of-sale system image: Shopify Alongside fulfillment centers, Shopify also unveiled new features like a better user interface, the ability to edit orders, and video and 3D modeling for products. The company has also added 11 new languages and rolled out a multi-cur

Velodyne Has Reportedly Courted Banks For An IPO

A Ford engineer fits a Velodyne lidar sensor on a self-driving vehicle image: Ford If you're familiar with self-driving cars, you have likely taken note of the spinning objects mounted atop most self-driving vehicles and other autonomous robots, like Ford's recently unveiled delivery robot . If you're more familiar, you may have taken note of the name "Velodyne", whose lidars are widely used in the self-driving vehicle industry. Velodyne is a top lidar manufacturer valued at $2 billion  after a $150 million investment from automaker Ford and China's Baidu in 2016. Now, according to a Business Insider report (paywall)  [citing unnamed sources familiar with the process], Velodyne has hired bankers for an IPO. The BI report says Velodyne is working with Citigroup, Bank of America Merrill Lynch, William Blair and the Royal Bank of Canada on a potential public float and is looking to surpass its last private valuation. A Velodyne lidar sensor image

Microsoft Bars Slack Use By Employees

Microsoft CEO Satya Nadella image: Microsoft According to an internal Microsoft memo obtained by GeekWire , the Redmond-based software giant has prohibited the use of the free version of Slack for its over 100,000 employees. The decision isn't mainly driven by Microsoft's Slack-competing Teams  product (although the obtained memo vouched for "use of Microsoft Teams rather than a competitive software"), but is reportedly driven by security concerns for Microsoft's intellectual property. Slack isn't alone on a “prohibited” category of products for Microsoft employees. Other tools like the popular Grammarly grammar checker and Kaspersky security software are also barred from use by employees. Likewise, services like Google Docs, PagerDuty, Amazon Web Services and even the cloud version of GitHub -- which Microsoft acquired for $7.5 billion last year -- are also placed on a “discouraged” category. Microsoft CTO Kevin Scott image: Microsoft

Airbus To Sell Custom HoloLens Software

Public works officers work with the Microsoft HoloLens AR headset image: Microsoft Aircraft manufacturer Airbus has partnered with Microsoft to sell off-the-shelf custom solutions on Microsoft's HoloLens 2 AR headset. Under this partnership, Airbus will offer mixed reality solutions built for its own use to other aerospace customers. The aircraft manufacturer has -- for several years -- developed custom HoloLens software that have been part of its manufacturing process. For example, HoloLens headsets have enabled Airbus aerospace trainees to learn in virtual environments without the need for a physical aircraft. The first HoloLens solution Airbus will offer is a virtual training program that helps cabin crews and aircraft maintenance operators learn in a holographic environment and access live instructions while on the job. The solution was first developed by Airbus for Japan Airlines (JAL). Airbus will also develop a collaborative map solution that'll let defense and

Slack Has A $250 Million Five-Year AWS Contract

Slack co-founder and CTO Cal Henderson Photo by Noam Galai/Getty Images for TechCrunch Slack just went public via a direct listing that reaped big returns for VCs that backed the company when it traded in private hands. The company's valuation eclipsed $20 billion on its first day of trading, nearly tripling its pre-IPO $7.1 billion valuation . As is always the case, Slack filed with the SEC before going public. We previously touched on several key takes from Slack's SEC filing in regards to financial and business metrics. But one key take we didn't touch on was Slack's contract with Amazon Web Services (AWS), the cloud subsidiary of e-commerce giant Amazon that made nearly $26 billion last year. Slack's SEC filing made note of a $250 million five year contract with AWS that runs from the 1st of May 2018 to the 31st of July 2023. The contract -- broken down to $50 million each year -- was a renewal of an already existing agreement with AWS, indicati

Sequoia Stands To Win Big From Medallia's IPO

Sequoia Capital partner and Medallia board member Doug Leone Photo by TechCrunch on Flickr Medallia - a customer experience management software company valued at $2.4 billion after a $70 million round that included Sequoia Capital in February -- just officially filed  with the SEC to go public. The San Mateo, California based company's filing showed annual revenues of $313.6 million but with losses amounting to $82.2 million. Just like the VC firms that won big in Slack's recent public market debut, one blue-chip VC, Sequoia Capital, stands to reap good returns from Medallia's IPO. In addition to participating in Medallia's earlier $70 million round, Sequoia led a $150 million round for the company in 2015, on top of $105 million in earlier funding solely from the VC firm. So it's no surprise Medallia's SEC filing showed Sequoia Capital controls a 41% pre-IPO stake. Medallia CEO Leslie Stretch. Stretch formerly led CallidusCloud -- a company ac

Medallia Files For IPO

Medallia co-founder Amy Pressman Photo by Harry Murphy/Web Summit via Sportsfile On the heels of Slack's public debut , another company, Medallia -- a customer experience management software provider  valued at $2.4 billion earlier this year -- has officially filed to go public  one month after submitting a confidential filing to the SEC. The nearly two-decade old company has raised $325 million in total funding according to Crunchbase data . Medallia's SEC filing indicates $313.6 million in revenue for the year ending January 31 2019, but with $82.2 million in losses. Other key takes from its IPO filing include: More than 500 enterprise customers. $313.6 million in annual revenue, up from $261.2 million a year earlier. $82.2 million in annual loss, up from $70.4 million a year earlier. $93.6 million revenue in the first quarter of this year, compared to $70.7 million in the same period last year. $86.3 million annual R&D costs, nearly unchanged from $86.

Big VC Wins From Slack's Public Debut

Social Capital founder -- and Slack board member -- Chamath Palihapitiya. Social Capital holds a more than 5% stake in Slack. image: TechCrunch on Flickr Slack filed to go public late April and has just achieved that with a direct listing that saw its stock jump nearly 50% on its first day of trading. Slack's prior SEC filing  showed significant stakes held by VC firms, including Accel (24%), Andreessen Horowitz (roughly 13%), the Softbank Vision Fund (7.3%) and Social Capital (more than 5%). With Slack's valuation on the public markets hitting $20 billion , investors that backed Slack have reaped major wins, including those that participated in the company's most previous $427 million round  that came with a $7.1 billion post-money valuation. To name a few, Accel which poured in $200 million into Slack now commands a stake worth $4.6 billion. Softbank which got in quite late by leading a $250 million round at a $5.1 billion valuation now commands a stake wor

Apple Issues Voluntary MacBook Pro Recall

A MacBook Pro image: Apple Apple has announced a voluntary recall that involves a "limited" number of older generation 15-inch MacBook Pro units due to batteries that may overheat and pose safety hazards. The units affected were sold between September 2015 and February 2017 and can be singled out by their product serial number. Apple has provided a link  where MacBook Pro owners can input their serial numbers and see if their laptops are affected. Those affected will have their batteries replaced free of charge by Apple. To confirm which model MacBook pro users have, they can simply click on the About This Mac  option from the Apple menu in the upper-left corner of the screen. A MacBook Pro image: Apple If it shows “MacBook Pro (Retina, 15-inch, Mid 2015),” which are the affected models, they can then enter their serial number on Apple's provided link to see if their devices are eligible for battery replacements.

Apple Reportedly Asks Suppliers To Vet Assembling Outside China

Line operators at an iPhone production facility in China image: Apple According to a piece from the Wall Street Journal , Apple is asking suppliers to study the feasibility of shifting final assembly of some of its products outside China, as concerns of a U.S.-China trade war triggers the iPhone maker to consider diversifying its supply chain. This is in addition to a previous report of Apple looking to start assembling top-end iPhone models in India. According to the Wall Street Journal, Apple is looking into the practicability of moving up to one-third of the production for some devices outside China, although such change would be strenuous and could take months or years to come to fruition. New production destinations being considered include Southeast Asia, the paper reported. Employees set up an Apple store at the Carnegie Library of Washington D.C image: Apple In a letter addressed to U.S. Trade Representative Robert Lighthizer this week, Apple complained t

Uber Said To Be Eyeing Acquisition Of Mighty AI

An Uber self-driving vehicle image: Uber According to a piece from The Information , Uber has held recent talks to acquire Mighty AI (formerly Spare5), a Seattle based startup that develops data used by self-driving vehicle operators to train their computer vision algorithms to help identify people and objects on the road. Mighty AI is backed by the likes of Intel Capital, GV, NEA and the Foundry Group. Fresh off $1 billion in funding , Uber ATG may be looking to acquire Mighty AI to bolster its autonomous vehicle operations by aiding its vehicles to identify people and objects better. Uber was previously involved in a fatal autonomous vehicle accident  that left one dead. The incident was due to an error  in identifying the woman who was hit while walking her bicycle across the street at night, signifying the importance of object recognition in the use of self-driving cars. A depiction of Mighty AI's computer vision training data image: Mighty AI Uber looking t

Gear Up For Oculus Connect 6

Oculus Rift S image: Oculus VR enthusiasts are likely familiar with Oculus Connect , an annual gathering of of VR developers -- hosted by Facebook-owned Oculus -- to ponder on the direction of virtual reality. The event is similar to WWDC, the recently concluded developers conference hosted annually by Apple. Well, if you wonder what this info is about, don't look to far, as Oculus has just announced the dates of this year's Oculus Connect conference. This year's Oculus Connect (the sixth installment) will be holding on the 25th and 26th of September at the 550,000-square-foot San Jose McEnery Convention Center, the same venue where Apple held this year's recently concluded WWDC. Oculus has had a busy year, with the release of the Quest and Rift S VR headsets and is likely building on that with some more offers to be announced at this year's Oculus Connect. The company has already teased one of these offers, a new first-person VR combat title developed

Waymo Partners With Renault And Nissan

A Renault self-driving vehicle image: Renault The self-driving vehicle scene has been hot as of late. There have -- recently -- been lots of partnerships, funding and other activities in this scene. To name a few, Volvo partnered with Nvidia to develop self-driving trucks, Intel's Mobileye has said it aims to launch a commercial robo-cab service by next year, Domino's and Nuro have partnered to deliver pizza via the latter's driverless vehicles. Now there's a new partnership, this time from Alphabet's Waymo. The self-driving company has partnered with French automobile manufacturer Renault and Japanese automaker Nissan to explore driverless vehicle services for passengers and deliveries in France and Japan. Under this partnership, the three parties will collaborate to research on commercial, regulatory and legal issues related to driverless transport. An engineer monitors the view of a Renault self-driving vehicle image: Renault Research wil

Nissan Debuts An Electric Ice Cream Van

Nissan's new -- concept -- all-electric ice cream van, that draws power from old electric vehicle batteries image: Nissan Earlier this year, Nissan unveiled a camper powered by recycled electric vehicle batteries. With concerns of environmental pollution from exhausted electric vehicle batteries, automakers are exploring ways of putting them to use in new forms. Nissan's camper was one of such ways. The Japanese automaker also has a trade-in program  for owners of Nissan Leaf EVs to replace old battery packs with refurbished ones at a discount. Now Nissan is back with a new way, an all-electric ice cream van powered by  Nissan Energy Roam , a portable power pack that gets energy from lithium-ion cells recovered from old batteries. In simple terms, it gets its power from recycled electric vehicle batteries. This is the same power pack that powers the earlier unveiled camper. The power pack is not yet on sale, but will be available later this year. image: Nis

Apple Extends Repair Service To All Best Buy Stores

Employees work at an Apple Store in Taipei, Taiwan image: Apple Apple has announced it has expanded its authorized repairs network to all Best Buy stores across the U.S., with nearly 7,600 newly Apple-certified technicians ready to provide expert service and repairs for Apple products. Best Buy has nearly 1,000 stores across the U.S. that will now provide repairs backed by Apple, out of [now] more than 1,800 third-party authorized service providers in the US. This figure includes Apple's own stores. Apple has tripled its number of authorized repair locations in the U.S. compared to three years ago. At these locations, trained experts who use genuine Apple parts are able to make same-day iPhone repairs and also service other Apple products. Apple says eight out of ten of its customers will be within 20 minutes of an authorized service provider thanks to this expansion. A woman services an iPhone at a Best Buy store image: Apple “At Apple, we’re dedicated to

Volvo Taps Nvidia To Develop Self-Driving Trucks

Nvidia CEO Jensen Huang image: Nvidia Volvo and Nvidia have announced a collaboration that'll see the Swedish automaker leverage the "Nvidia Drive" autonomous driving stack to train, test and deploy its self-driving vehicles. Volvo will use Nvidia's self-driving technology on a lineup of trucks, with a focus on public transport, refuse collection, mining, construction, freight transport, forestry and more. Volvo and Nvidia will set up combined engineering teams in Gothenburg, Sweden -- where Volvo is headquartered -- and Silicon Valley -- where Nvidia is based -- to work on self-driving vehicles. The engineers will build on Nvidia's Drive AGX Pegasus platform for AI computing and utilize the Drive AV software stack for computer vision. Volvo CEO Håkan Samuelsson image: Volvo The use of trucks to deliver freight is rising. According to consultancy firm KPMG, delivery couriers will have to travel an additional 78 billion miles each year by 2040

Mobileye Aims To Launch Driverless Cabs Next Year

Mobileye CEO Amnon Shashua image: Intel Intel's Mobileye has said it expects to begin a trial of self-driving cabs in Israel by next year. The company made this known to Bloomberg News on Sunday. Speaking to Bloomberg, Intel CEO Bob Swan said he rode a Mobileye self-driving car through Jerusalem traffic -- with pedestrians crossing the streets -- on Sunday. “The most impressive thing is to just to see how far they have come in each one of the successive drives that I have gone on over the last two years,” Swan said, noting that it was his third time riding in a self-driving car. Last October, Mobileye in collaboration with Volkswagen and Champion Motor Group announced efforts towards commercializing a self-driving cab service. Intel CEO Swan said the plan is to launch a robo-cab service first in Israel -- where Mobileye is based -- before global expansion. Software development for the commercial robo-cab service is expected to be finished by the end of this year. A

Twitch Acquires Bebo

Twitch CEO Emmett Shear Photo by Steve Jennings/Getty Images for TechCrunch Amazon's Twitch has acquired Bebo, a once high-flying social network that sold to AOL for $850 million in 2008 before a decline that led to a trifling $1 million sale back to its founders five years later. A Twitch spokesperson confirmed the acquisition in a statement to TechCrunch . The acquisition includes both Bebo's team (around 10 employees) and intellectual property. TechCrunch, citing unnamed sources, reports Twitch paid up to $25 million for Bebo after beating out at least two other bidders, including Discord and Facebook. After Bebo was sold back to its founders, it headed into the world of esports, first with a streaming service and later as an organizer of tournaments for streamers. Being in esports, it's no surprise that Twitch -- the most popular game streaming site -- has acquired it. Bebo's team and tech will now work on Twitch Rivals, the Amazon owned company's 

VW Aims To Employ 5,000 In New Software Unit By 2025

Volkswagen CEO Herbert Diess image: Volkswagen Volkswagen has announced a new software unit that it'll task with developing software for its vehicles by 2025. The German automaker intends to employ more than 5,000 in the software unit by that year. The new unit is named Car.Software . Volkswagen plans to boost in-house software development from currently less than 10% to at least 60% by 2025 and will leverage the newly formed unit to do so. The new software unit will work on the Volkswagen Automotive Cloud, a dedicated cloud platform created in partnership with Microsoft, and “vw.os”, a new "vehicle operating system" Volkswagen says all its new models will run on by 2025. The first vehicle that will run on the new software platform will be the ID.3, an electric vehicle being developed by Volkswagen that has already been booked by more than 20,000 potential customers. Volkswagen ID.3 image: Volkswagen Currently, Volkswagen vehicles make use of softwar

Magic Leap Accuses Nreal Founder Of Theft

Nreal founder and CEO Chi Xu image: Nreal You may be familiar with Nreal, if not, it's a Chinese maker of augmented reality glasses founded by an ex-Magic Leap engineer. The company recently hit the news, having debuted a consumer version of its AR glasses. Now it's apparently doing the same, but in a bleak way. Magic Leap is accusing Nreal's founder, Chi Xu, of stealing its AR secrets to develop a headset for China that's similar to Magic Leap's own designs. Florida-based Magic Leap filed a lawsuit on Monday, alleging Xu -- a former Magic Leap engineer who left in 2016 -- exploited confidential information to “quickly develop a prototype of lightweight, ergonomically designed, mixed reality glasses for use with smart phones and other devices that are strikingly similar” to Magic Leap's designs. A gaming depiction on Magic Leap's AR headset image: Magic Leap Magic Leap alleges Xu plotted during a 13 month stint at the company to launch

Facebook Unveils Digital Currency

Facebook CEO Mark Zuckerberg image: Facebook 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: Stripe PayPal  Coinbase Visa Mastercard  PayU  Uber Lyft

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Pokémon Go Creator Niantic Raises $300M, Valued At $9B

Niantic , an augmented reality (AR) company whose products include the famous  Pokémon Go game, has raised a big new round of funding. It's raised $300mn in funding at a valuation of $9bn. All the funding came from just one investor; Coatue , a New York-based hedge fund famous for investing in many blue-chip tech startups. With its new funding, Niantic says it'll invest in current games and new apps and expand its AR developer platform called Lightship . The company says it's set on building the "real-world metaverse," jumping on the bandwagon popularized by Facebook's parent firm, Meta.  The base for Niantic's metaverse vision is the Lightship developer platform which it launched this month. It's a platform for developers to build augmented reality apps and experiences, drawing from Niantic's tools that helped create its hit  Pokémon Go game. To draw creators to Lightship, Niantic has also set up a $20mn venture fund to invest in AR startups

Deal: Workday Buys Ohio Startup Vndly For $510M

Workday (NASDAQ: WDAY), the famous HR/finance software vendor, has made a big new acquisition to support its platform. The company will acquire Vndly , a software platform for companies to manage contract workers. Vndly fits in well in Workday's overall software suite, and the rationale behind the purchase is clear. Vndly is an Ohio-based startup. Workday will pay $510mn to buy it, marking one of Ohio's biggest startup exits this year. Vndly has raised roughly $60mn from VCs, so a $510mn exit is very lucrative and more so for a startup founded just four years ago .  Before now, Vndly and Workday were already close allies. Vndly's platform is integrated with Workday's, with official certification to go. The Mason, Ohio-based startup is part of Workday's global network of endorsed software partners, so Workday didn't even have to look far to snatch its latest acquisition.  Vndly was founded in 2017 by two entrepreneurs,  Shashank Saxena and Narayana Surabhi .

Amazon, Apple Fined $230M For Reseller Collusion In Italy

Tech giants Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL) have been handed sizeable fines by the Italian government following an investigation into alleged reseller collusion between both companies. Amazon was fined €135mn ($151mn) and Apple  €69mn ($78mn), totaling $229mn .  The fine was levied by the  Italian Competition Authority . According to the agency, Apple and Amazon had a contractual agreement to allow  select resellers to sell Apple and Beats products on Amazon's Italian marketplace. The agency said that the selection was applied in a "discriminatory" way that violated European Union rules and affected price competition. According to the  Italian Competition Authority, at least 70% of local consumer electronics purchases are made on Amazon, making it a dominant retailer. This dominance, therefore, demands a "level playing field" for retailers that sell on Amazon's marketplace, the agency said. This is the nth time Amazon is getting in the cr

Antitrust: US DOJ Sues To Block Major Sugar Industry Merger

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Alt-Meat Maker Impossible Foods Raises $500M In Fresh Funding

A leading maker of plant-based meat substitutes, Impossible Foods , has obtained a fresh cash infusion from VCs. It has  raised $500mn in new funding, bringing the total amount of funding it has raised since inception to $2bn.  The latest round was provided entirely by existing investors doubling down on Impossible Foods.  Mirae Asset Global , a Korean investment firm, led the round and was joined by other unnamed existing investors.  It's evident that investors are longing for Impossible Foods, a leading brand in the nascent market for plant-based meat substitutes. There's clearly huge potential for plant-based meat substitutes, driven by an increasing vegan population and the appeal to lower the carbon footprint that spurs from meat consumption. To that end, Impossible Foods is growing rapidly. Its products can now be found in more than 20,000 retail stores, compared to 150 as of March 2020, and 40,000 restaurants globally. Over the past year, Impossible has launched in ne

Deal: KKR Makes $37B Buyout Offer For Telecom Italia

Private equity giant KKR (NYSE: KKR) has ventured into Italy for its latest buyout deal. The firm has offered to buy Telecom Italia (BIT: TIT), the largest telecom provider in Italy, in a deal worth  €33bn ($37bn), including debt. KKR offered 0.505 Euros in cash for each outstanding  Telecom Italia share, a 46% premium to the last closing share price before the offer. That sums up to  €10.7bn ($12bn) in cash to be paid for Telecom Italia, and including the telecom firm's large net debt of €22.5bn ($25bn) sums up to $37bn in total.  KKR's offer is non-binding and must be approved by Telecom Italia's board members and majority shareholders before the deal goes through. Approval must also come from the Italian government, which was veto power over the takeover of the formerly state-owned telecoms firm.  Telecom Italia gave no indication that it'll approve the deal. If approval is given, it'll mark one of the biggest buyout deals of a European company by an America

Earnings: Nvidia Is On A Tear

Chipmaking giant Nvidia (NASDAQ: NVDA) has unveiled the financial results for its latest fiscal quarter ended October 31, 2021. The company reported a sharp rise in sales that can only be described as being on a tear. Nvidia posted $7.1bn in revenue in the quarter, up 50% year-over-year . The large growth was driven mostly by the company's data center sales, which increased 55% year-over-year to $2.9bn. Similarly, Nvidia's gaming revenue rose 42% year-over-year to $3.2bn. Net income for the quarter was $2.5bn , up 4% from the same period last year. It was an outstanding quarter all-around for Nvidia, a beneficiary of the recent massive growth of the gaming industry and data center boom. Nvidia's GeForce graphics cards are very popular with gamers, and data center operators patronize Nvidia's high-performance graphics processors for artificial intelligence applications.  Save for data centers and gaming, Nvidia has other minor product lines, including automotive chip

Cyber: Apple Sues NSO Group Over Spyware Hacks

Tech giant Apple (NASDAQ: AAPL) has filed a lawsuit against NSO Group , a controversial Israeli company that sells smartphone hacking tools and has been  implicated in the hacks and surveillance of many notable persons, including journalists, activists, and business executives, by state-sponsored actors. Apple has sued NSO Group for infecting iPhones with spyware to track users of interest. As part of the suit, the tech giant seeks a permanent injunction to ban NSO Group from using any Apple products. NSO Group is best known for its Pegasus spyware that can be covertly installed on mobile phones running most versions of iOS and Android. The company exploits vulnerabilities in both operating systems to introduce spyware into a phone without the user's knowledge. Pegasus was the center of a Washington Post investigation called "The Pegasus Project," revealing that the spyware was used to surveil over 1,000 identified notable individuals across countries with shoddy hu

Markets: Retail Giant Authentic Brands Scraps IPO Plans

Authentic Brands Group , a New York-based retail conglomerate, has suspended its plans for an initial public offering (IPO) after already filing an S-1 document with the US SEC. The company has instead opted to raise private funding to fund expansion in the main time. Authentic Brands Group's portfolio retail brands include apparel retailer Forever21 , men's suit maker Brooks Brothers , and department store chain Barneys New York . The company is akin to an old people's home where once-vibrant retail brands go to stay after they've gone past their peak. Authentic buys these befallen retail companies and makes money from what's left of them through licensing deals.  Over the years, Authentic has relied on hefty venture funding to assemble its constellation of old-guard brands. An IPO was supposed to raise even more money for expansion but has been set aside in favor of private funding.  Authentic is  rather selling  equity stakes to private equity firm CVC Capital

Markets: IoT Startup Samsara Files For IPO

The latest tech startup to board the IPO train is Samsara , a VC-backed startup that makes internet-of-things (IoT)-based fleet monitoring hardware and software for logistical operators. It has unveiled an S-1 filing with the US SEC, showing its intention to list on the New York Stock Exchange (NYSE). Samsara has raised nearly $1bn from VCs including Andreessen Horowitz, Tiger Global, and General Catalyst, with a valuation of $5.4bn from its last funding round. The company's co-founders sold a previous startup named Meraki to Cisco for $1.2bn . As expected, Samsara's S-1 filing gives a deep glimpse into the company's business with information not publicly disclosed before. The company has been rather secretive over the years, making this long-awaited information. We've extracted some important information so you don't have to, mostly the financial stuff. Samsara brought in $303mn in revenue in the nine months ended October 2021, compared to $174mn in the same