The Bulletin
9H
Google to buy Manhattan base for $2.1bn
Google is to buy St. John’s Terminal in Manhattan for $2.1bn, which will serve as the anchor of its new Hudson Square campus. St. John’s Terminal is a former freight facility that is being reimagined into a sustainable, adaptable and connected building. The building will also offset 100% of its carbon in support of Google’s ambitious carbon goals. The transaction will close in the Q1 of 2022.
11H
JPMorgan to launch UK challenger bank
JPMorgan Chase has launched a digital challenger bank in the UK under its Chase brand. It is the start of an international expansion from and represents a challenge to the UK's established bankings, as well as it digital entrants such as Monzo and Revolut. Chase will introduce a fee-free current account that combines money management features with cashback rewards on debit card spending.
17H
F5 Networks buys cloud security startup Threat Stack in $68m deal
Applications networking company F5 Networks has announced the acquisition of cloud security and compliance startupThreat Stack for $68m. The deal comes months after F5 bought multi-cloud management startup Volterra for $500m. F5 said that integrating its protection solutions with Threat Stack’s cloud security capabilities will “enhance visibility across application infrastructure and workloads.”
18H
Fivetran buys DVR and raises $565m, valued at $5.6bn
Fivetran has announced a significant acquisition and closed a super-sized funding round. The data integration company has agreed a $700m deal to buy HVR, a provider of enterprise data replication technology, which it says will allow it to "provide breakthrough database replication performance". In addition, it has also closed a $565m Series D round, which takes its value to $5.6bn.
1D
Google Cloud and Wipro launch innovation hub in India
Wipro has announced the launch of the Wipro-Google Cloud Innovation Arena in Bangalore, India. The cloud collaboration space will provide in-house technical expertise, ensure cloud adoption, and accelerate innovation to drive business transformation for customers. The facility will showcase the talent, tools and best practices required to develop and deploy applications on Google Cloud.
1D
Semiconductor market could face oversupply by 2023 - IDC
The semiconductor market could face oversupply in 2023, according to IDC. It expects the market to grow by 17.3% in 2021 versus 10.8% in 2020, see normalisation by mid-2022, with a potential for overcapacity in 2023 as larger scale capacity expansions come online. Growth is to driven by mobile phones, notebooks, servers, automotive, smart home, gaming, wearables, and Wi-Fi access points.
1D
Alphabet's Project Taara successfully beams high-speed internet
Project Taara, one of Alphabet X's moonshot projects, has been able to successfully provide high-speed internet via beams of light across the Congo River. This has solved the connectivity gap that existed between the cities of Brazzaville and Kinshasa and provided its citizens with faster and cheaper broadband. The wireless optical communications system provided 700 terabytes of data in 20 days.
1D
Oracle unveils new AI-powered marketing platform
Oracle has launched a platform for marketers that uses AI to generate sales leads. Oracle says Fusion Marketing uses AI to automatically score leads at the account level, predict when consumers are ready to talk to a salesperson, and generate a qualified sales opportunity in any CRM system. It can also build and run campaigns in "a matter of minutes" according to Oracle.
1D
Software development company GitLab files to go public
San Francisco-based software development platform GitLab has revealed its plans to go public with an initial offering of stock. The company's software allows developers to share code and collaborate on projects, competing with Microsoft’s GitHub. GitLab was valued at $6bn in January 2021, after raising a total of $400m from investors, but it has not revealed how much it plans to raise in its IPO.
4D
Two-thirds of cloud breaches down to misconfigured APIs - IBM report
A report from IBM has revealed that misconfigured APIs were behind as much as two-thirds of all cloud breaches over the 12-month period up to June. The data came from dark web analysis and various IBM metrics and research. Threat actors are appearing more and more in cloud-based environments. Vulnerabilities in cloud-based applications were also found to have increased.
4D
British fibre broadband company CityFibre secures $1.55bn
British telco CityFibre has raised $1.55 billion to support the rollout of its fibre network across the UK and challenge BT. The company has obtained £825m from Abu Dhabi sovereign wealth fund Mubadala and investment fund Interogo. CityFibre said it will use the funds to reach its target of providing fibre to eight million homes across 285 cities, towns and villages across the UK.
4D
OpenSea admits to NFT insider trading
OpenSea, the largest NFT marketplace, says insider trading rumours are true. An unidentified OpenSea employee “purchased items that they knew were set to display on our front page before they appeared there publicly,” CEO Devin Finzer said in a statement. OpenSea, which is valued at $1.5bn, said that it has introduced a new policies to prevent this incident from repeating itself.
4D
JPMorgan set to launch digital bank 'Chase' in the UK
JPMorgan is to launch its "Chase" digital bank in the UK next week. An app offering current accounts only will be made available from Tuesday, a spokesperson revealed. They outlined JPMorgan's commitment to the FT, saying that it will spend "hundreds of millions" before being able to break even. This is JPMorgan's first overseas retail bank. Goldman Sachs launched a similar offering in 2018.
5D
Data-driven tech talent recruiting platform CodeSignal raises $50m
Software developer assessment platform CodeSignal has closed on a $50m funding round led by Index Ventures with participation from Menlo Ventures, Headline and A Capital. CodeSignal is a self-driving interview platform that measures programming skills regardless of a person’s background. The tech industry's growing need for engineers has allowed it to grow 3.5 times in revenue year over year.
5D
Data integration platform Matillion achieves unicorn status
UK-based cloud integration platform Matillion has achieved unicorn status after a $150m funding round took its value to $1.5bn. The round was led by General Atlantic, a global growth equity firm, with participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners, and Lightspeed Venture Partners. It follows an earlier funding round in 2021, bringing total to-date to $310m.
5D
Identity startup Persona raises $150m, value hits $1.5bn
Digital identity startup Persona has raised $150m, valuing the business at $1.5bn. The Persona platform helps companies to securely collect, verify, and manage individual's identities. The round was led by Founders Fund, with participation from Meritech Capital Partners, BOND, and existing investors Index Ventures and Coatue Management. The new capital brings the company's amount raised to $217.5m
5D
Thoughtworks reaches $9bn valuation after New York IPO
Technology consulting firm Thoughtworks reached a $9bn valuation after an initial public offering in New York City that was priced well above range. The company's stock opened at $26, above its targeted price range of $18 to $20. "The market that we operate in is expected to double by 2025 ... We will continue to invest in our service offerings," said Chief Financial Officer Erin Cummins.
5D
Ex-AWS exec Charlie Bell to take on cybersecurity role at Microsoft
Microsoft has confirmed that it has hired long-time AWS executive Charlie Bell. Reports emerged earlier this month that Bell was set to make the jump. In a LinkedIn post, he confirmed he would be taking on a cybersecurity remit dealing with fraud, ransomware and data exposure. AWS still haven't sanctioned the move because of a non-compete clause, however, so Bell is yet to start work.
6D
Fintech company Pagaya set for $8.5bn SPAC merger
Pagaya is to go public via a SPAC merger worth an expected $8.5bn. The Israeli-U.S. fintech manages assets for different financial services organisations, such as banks and insurance companies. It uses artificial intelligence to improve financial processes. Pagaya will merge with the special-purpose acquisition company EJF Acquisition Corp. It was co-founded by former UBS executive Gal Krubiner.
6D
Ford, Argo AI and Walmart launch autonomous vehicle service
Ford, Argo AI and Walmart have launched an autonomous vehicle delivery service in Miami, Austin, Texas, and Washington, D.C. The last mile delivery service will use Ford self-driving test vehicles equipped with the Argo AI Self-Driving System to deliver Walmart orders. Argo’s cloud-based infrastructure will integrate with Walmart’s ordering platform to route orders and schedule deliveries.
6D
Australian design platform Canva reaches $40bn valuation
Australian graphic design tool startup Canva has become one of the world's biggest privately-owned companies after reaching a $40bn valuation in its latest funding round. The company has raised $200m in new private equity investment, which it plans to use to double its workforce within the next year. The founders intend to give away the vast majority of the stake to charitable causes.
6D
Glassdoor to add social components by acquiring Fishbowl
Glassdoor, the platform that lets people post anonymous insights about jobs, has acquired Fishbowl for an undisclosed amount. Fishbowl is an app that allows professionals to engage in discussions about work and the search for jobs. Fishbowl will continue to work as a standalone app but its features will be incorporated into Glassdoor's platform. Fishbowl currently has one million users.
6D
Snowflake launches Financial Services Data Cloud
Snowflake is the latest cloud company to introduce a platform for a specific industry after launching the Financial Services Data Cloud. It will allow users to build customer-centric products and services, build fintech platforms, and accelerate their compliance and regulatory compliance. The likes of Allianz, AXA, BlackRock, Capital One, NYSE are already part of the Financial Services Data Cloud.
6D
Microsoft appoints Brad Smith to vice chair
Brad Smith has been named as Microsoft vice chair. The current Microsoft President will blend his new duties into "an updated executive role", reporting to CEO Satya Nadella. Smith, who comes from a legal background, currently leads a team of over 1,500 employees at the tech giant. Microsoft has also announced that it is to launch a $60bn share buyback scheme, paying a dividend of $0.62 per share.
7D
Google launches Supply Chain Digital Twin
Google has launched a cloud-based software platform that will allow companies to build digital twins of their physical assets. The Supply Chain Digital Twin will help businesses to bring together data from multiple sources, all while requiring less partner integration time than traditional API-based integration. Some customers have seen a 95% reduction in analytics processing time, Google said.
7D
Atos and IBM create centre of excellence for financial services
Atos has teamed up with IBM to create a centre of excellence for the financial services industry. The centre will act as a hub for hybrid cloud innovation aimed at accelerating digital transformation in the sector. Atos supports financial services clients by moving their mission-critical workloads onto the IBM Cloud for Financial Services. Clients will access cloud experts through the centre.
7D
South Korea fines Google $177m for anti-competitive behaviour
South Korea's antitrust regulator has fined Google $176.64m for allegedly using its dominant market position in the mobile operating system space to stifle competition. According to the South Korean watchdog, Google blocked customised versions of its Android operating system to restrict competition in the mobile OS market. Google said in a statement that it intends to appeal the ruling.
7D
Apple releases emergency software update to fix flaw affecting all devices
Apple has released emergency security updates after being exploited by Israeli cybersecurity company NSO Group Technologies. The zero-day flaw affected all Apple devices, including iPhones, iMacs and iPads, without the owner even clicking on a link. The so-called Forcedentry flaw was first revealed in August after the phone of a Saudi political activist had been infected with spyware.
7D
Self-driving tech company DeepRoute.ai lands $300m
DeepRoute.ai, which produces self-driving technology, has raised $300m in new funding. Alibaba led the investment round, with the company saying the cash will be spent on R&D and "scaling automaker collaboration". DeepRoute.ai is a major player in the robotaxi industry and wants to continue to grow its fleet. "We also want to expand to urban logistics,” said Maxwell Zhou, CEO of the firm.
7D
Intuit to buy customer marketing platform Mailchimp for $12bn
Financial software platform Intuit has agreed a $12bn deal to acquire customer marketing company Mailchimp. Intuit said that the deal will power its ambition to become the "centre of small business growth" and "disrupt the small business mid-market". Mailchimp has 2.4m monthly active users, and 800,000 paid customers; with 50% of customers outside of the US.
8D
GM invest millions on radar software maker for self-driving cars
General Motors' venture capital arm has invested millions of dollars in Oculii, a U.S. startup maker of software for radar sensors used in self-driving cars. Oculii's low-cost software can boost the resolution of the radars used in GM's self-driving cars. "It is a fantastic signal they're serious about the technology and bullish about radar in general," Oculii co-founder Steven Hong said.
8D
JumpCloud completes $159m raise, value up to $2.5bn+
Cloud directory-as-a-service firm JumpCloud has seen its value climb to $2.56bn after completing a late-stage $159m Series F funding round. It was led by Sapphire Ventures with additional participation from Owl Rock, Whale Rock Capital, Sands Capital, and Endeavor Catalyst. Existing investors General Atlantic, funds and accounts managed by BlackRock, and H.I.G. Growth Partners also participated.
8D
Olympus shuts down networks after cyberattack
The Japanese tech company Olympus has been forced to shut down its computer networks in Europe, Africa and the Middle East after being hit by a cyberattack. A report from TechCrunch said that the ransomware attack began on September 8, with Olympus acknowledging the attack three days later. The BlackMatter ransomware group is said to be behind the attack and is demanding payment.
8D
Apple forced to change App Store rules in landmark ruling
A California judge has mandated Apple to ease its App Store terms in a ruling with great implications for the mobile ecosystem. The ruling was issued as part of a lawsuit filed against Apple by Epic Games. However, Epic Games has appealed the ruling, as it allowed Apple to continue charging commissions in its payment system and to continue to ban third-party in-app payment systems.
11D
T-Systems and Google Cloud to deliver sovereign cloud for Germany
T-Systems and Google Cloud are to build and deliver sovereign cloud services for German enterprises, the public sector, and healthcare organisations. The companies will develop next-gen sovereign cloud solutions and infrastructure. These will allow customers to host workloads on a sovereign cloud, whilst continuing to leverage the scalability, elasticity and reliability of public cloud services.
11D
Vertiv to buy E&I Engineering Ireland for $1.8bn
Data centre services and equipment company Vertiv has agreed a deal to acquire E&I Engineering Ireland Limited and its affiliate, Powerbar Gulf LLC for around $1.8bn. "The acquisition of E&I represents a key milestone in Vertiv’s strategy, completing our portfolio of in-building power train offerings for data centers and vital commercial and industrial markets," said Rob Johnson, Vertiv’s CEO.
11D
Facebook presents its first smart glasses
Facebook has launched its first smart glasses in a collaboration with Ray-Ban. The glasses allow users to listen to music, take calls or capture photos and short videos and share them across Facebook's services using a companion app. It is its first model towards the company's goal of making augmented reality glasses. Facebook said the glasses line, called "Ray-Ban Stories," would start at $299.
11D
Developer security firm Snyk closes $530m funding round
Developer security company Snyk has closed a $530m Series F funding round, which takes its valuation up to $8.5bn. The round was co-led by Sands Capital and Tiger Global and takes the company's total funding to-date to $775mn. “This new investment, together with the rapid adoption of our platform and growing customer base, validates our developer security vision,” said Peter McKay, CEO, Snyk.
12D
AWS and Microsoft participate in Databricks funding round
Technology giants Amazon Web Services and Microsoft both participated in Databricks's most recent funding round. Databricks confirmed its $1.6bn round of funding, which puts the company at a $38bn post-money valuation. The Series H funding will be used to accelerate innovation and adoption of the lakehouse as the data architecture's popularity across data-driven organisations increases.
12D
Aviatrix valued at $2bn after $200m Series E raise
Cloud networking and security company Aviatrix has completed a $200m round of funding led by TCV. This Series E funding raises Aviatrix’s valuation to $2bn, which has more than doubled in six months since the previous round. "Enterprises need the visibility and security controls they had on-prem, but with the operational simplicity and automation of cloud," said Steve Mullaney, CEO of Aviatrix.
12D
Advance.AI on course for $200m in new funding - report
Singapore tech startup Advance.AI is on course to raise $200m in new funding, reports Reuters. The cash is set to come from Warburg Pincus, one of the world's biggest private equity firms. Advance.AI offers digital identity verification, fraud detection and credit scoring services underpinned by artificial intelligence. The round will result in unicorn status for the company.
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12D
E-commerce giant Sea looking to raise $6.3bn in record-breaking fundraiser
Tencent-backed e-commerce and gaming company Sea plans to raise about $6.3bn by selling new shares and convertible bonds. Sea is currently South-East Asia's most valuable company and the fundraiser would be the biggest one in the region. Sea said in a statement that the proceeds would be invested in growing the business as well as on “potential strategic investments and acquisitions.”
12D
Microsoft discloses recent vulnerability in Azure
A Microsoft blog has disclosed how Palo Alto Networks recently discovered a security flaw in Azure. The vulnerability was found in the Azure Container Instances (ACI). Hackers could have potentially accessed other customers' information through the ACI flaw. Some users have been notified to change their login credentials but Microsoft did confirm that the vulnerability has now been fixed.
13D
Microsoft acquires video-editing platform Clipchamp
Microsoft has acquired video-editing tool Clipchamp, with the intention of integrating it into Office 365. The addition will allow users to create and edit videos using manageable tools. "Clipchamp is a natural fit to extend the cloud-powered productivity experiences in Microsoft 365 for individuals, families, schools, and businesses," said Chris Pratley, Corporate VP, Office Media Group.
13D
Fintech MNT-Halan lands $120m in fresh funding
MNT-Halan, a fintech in Egypt, has pocketed $120m from a new funding round. Both global and regional investors were involved in the raise. MNT-Halan has built up an ecosystem of financial services which is meeting the needs of Egypt's young population. It has a number of licenses in the country to serve the underbanked. "We are at the forefront of the digital revolution in Egypt," said its CEO.
13D
Intel plans to invest $95bn in new European chip factories
Intel plans to build new chip-making facilities in Europe valued at up to $95 billion. The company wants to build two new factories at a new site in Europe to cater to the significant increase in demand for semiconductors amid a global shortage. “This new era of sustained demand for semiconductors needs bold, big thinking,” Intel Chief Executive Pat Gelsinger said during a conference in Munich.
13D
Apple's top car executive Doug Field joins Ford
Ford Motor has hired away former Tesla and Apple executive Doug Field to lead its emerging technology efforts. He was known for leading the development of Tesla’s Model 3 and for serving as vice president of special projects at Apple, which reportedly included its secretive car project. Field will lead "Ford’s efforts to develop the next-gen Blue Oval Intelligence tech stack", the company said.
13D
IBM reveals new server built for hybrid cloud
IBM has unveiled the Power E1080 server, the first of a new generation of servers built using its IBM Power10 processor. The company says the servers will deliver a "secured, frictionless" hybrid cloud experience. IBM's technology also promises improved energy efficiency. "The E1080 is IBM's first system designed from the silicon up for hybrid cloud environment," said a spokesperson.
14D
DigitalOcean to acquire serverless software platform Nimbella
Cloud infrastructure company DigitalOcean has announced the acquisition of serverless software platform Nimbella. The acquisition expands DigitalOcean’s capabilities in the function-as-a-service market and will add an additional serverless compute offering to complement the company’s existing infrastructure-as-a-Service. Financial terms of the deal have not been disclosed.
14D
African fintech Wave closes $200m Series A
Wave has completed a $200m funding round for its mobile money service. The fintech becomes Francophone Africa's first unicorn after the bumper Series A, which included investment from Sequoia Heritage and Stripe. Over the past 12 months, $500bn has moved through the accounts of 300m users in the region. "Our mission is to bring a modern financial network to everyone in Africa," said its CEO.