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Reddit hires Drew Vollero as first CFO in preparation for IPO
Reddit has named former Snap Inc executive Drew Vollero as its first chief financial officer. The social media platform that took centre stage during the GameStop is planning an initial public offering. Vollero's hiring is a step toward tidying up Reddit's books before going public. Steve Huffman, Reddit’s CEO, said that the company "thinking about it2 and "working towards that moment.”
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Microsoft plans new cloud region in China
Microsoft is expanding its cloud services in China with a new Azure region planned for the north of the country. The site will be opened through Microsoft's local operating partner, 21Vianet. According to China Cloud Industry Development white paper, China's cloud industry is on course to be worth $46bn within two years. Microsoft says it wants to help "grow local technology ecosystems".
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Qualys falls victim to Accellion data breach
Qualys is the latest company to suffer from the data breach at Accelion. The Clop ransomware group published screenshots belonging to the security vendor, although Qualys has since said that no personal customer information was compromised. The Accelion breach has affected numerous companies, including retail giant Kroger. The attack has only recently become news after occurring in December.
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UK watchdog to launch probe into Apple's App Store
The Competition and Markets Authority has launched an investigation under Chapter II of the Competition Act 1998 into suspected breaches of competition law by Apple. The investigation concerns Apple’s conduct in relation to the distribution of apps on iOS and iPadOS devices in the UK, in particular, the terms and conditions governing app developers’ access to Apple’s App Store.
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IT aviation company SITA suffers cyberattack
SITA, one of the world's largest aviation IT companies has compromised information belonging to several airline companies. The information of about 580,000 KrisFlyer and Singapore Airlines (SIA) Priority Passenger Service (PPS) members has been compromised by the data breach. SITA said it took "immediate action" to contact affected customers and all related organisations.
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Wipro to acquire tech consultancy Capco for $1.45bn
Wipro is to acquire Capco, a global management and technology consultancy, for $1.45bn. Capco provides digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific. Wipro said the deal will make it one of the largest end-to-end global consulting, technology and transformation service providers to the banking and financial services industry.
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Okta to buy identity competitior Auth0 for $6.5bn
Digital identity firm Okta has agreed a $6.5bn deal to buy one of its main competitors, Auth0. Auth0 will operate as an independent business unit inside of Okta. "Okta and Auth0 address a broad set of identity use cases and the acquisition will accelerate the companies’ shared vision of enabling everyone to safely use any technology, shaping the future of identity on the internet," said Okta.
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Virtual events platform Hopin raises $400m, valued at $5.65bn
One of Europe's hottest startups, Hopin, has closed a bumper funding round of $400m, taking the value of the virtual events platform to $5.65bn. It comes only a year after the company was founded and four months after closing a $125m round. Andreessen Horowitz and General Catalyst led the round, with participation from IVP, Coatue, DFJ Growth, Northzone and Salesforce Ventures.
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Apple faces UK antitrust investigation over App Store terms
The UK's Competition and Markets Authority has launched an antitrust investigation into where its App Store terms are unfair and anti-competitive. The prove follows a series of complaints, including a high-profile one from Epic Games. Apple said its terms were "fair and equal". The tech giant charges a 30% commission from developers any time a consumer buys their app.
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Clari raises $150m for "revenue analytics" platform
Clari plans to double its workforce after raising $150m at a valuation of $1.6bn. The company's software helps businesses to more accurately forecast their revenues. Clari calls its capability "revenue analytics". Silver Lake led the Series E investment round, with Sequoia Capital among the other backers. "Over the last year, we've seen record usage and engagement," said Clari's CEO.
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