Finance
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Facebook Climbs To 1.59 Billion Users And Crushes Q4 Estimates With $5.8B Revenue
By courting users and ad dollars in the developing world, Facebook continued its growth streak. It hit 1.59 billion users today and crushed the street’s estimates in its Q4 2015 earnings with $5.841 billion in revenue and $0.79 earnings per share. That’s up from 1.55 billion users and $4.5 billion in revenue last quarter. Even with Q4 being the holidays, that 29.8% QoQ revenue… Read More
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NextGenVest Uses Snapchat To Send Money Tips To Millennial Students
NextGenVest, a startup out of New York, is setting out to become a new kind of trustworthy financial entity. And to do that, it’s tackling a big problem. Every year in the US a staggering $2.9 billion goes unclaimed in students grants because the financial aid process has become tortuously complex. Furthermore, the ratio of guidance counselors to students is 500 to 1 nationally, with 20%… Read More
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VMware Confirms Layoffs In Earnings Statement As It Prepares For Dell Acquisition
VMware confirmed that it was laying off 800 employees today as part of its fourth quarter earnings statement. The layoffs had been originally reported by Fortune last week. The move appears to be part of the ongoing dance among EMC federated companies prior to the Dell acquisition expected to go through later this year. Dell announced it was buying EMC in October for $67 billion. EMC owns… Read More
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A Year After IPO, Depressed Stock Price Not Bringing Box CEO Down
It was just about a year ago that Box finally pulled the trigger and IPOed. It was a good day by all accounts, with an IPO price of $14 that promptly went up to $23 a share. Today that price sits below $10 a share, well below that $14 launch price and light years from that heady first day close.
All that said, Box CEO Aaron Levie reports he has no regrets about going public and insists he… Read More
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LendUp Scores $150M For A Credit Card That Won’t Screw You Over
Banks are so greedy that LendUp can undercut them, help people avoid debt, and still make a profit on its payday loans and credit card. Not only is software eating finance, but morality is too. LendUp’s slogan is “Ladders Not Chutes”. Building a business that doesn’t try to exploit everyone has not only brought it years of double-digit monthly growth. LendUp has now… Read More
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After Cancelling Its IPO, Deezer Raises Another $109M From Access And Orange
Deezer, the Paris-based music and other audio streaming service with 6.3 million users that planned but ultimately cancelled an IPO last year, has now tapped existing investors for more funding. Today the company is announcing that it has raised another €100 million ($109 million), led by Warner Music Group owner Access Industries and with participation also from French carrier Orange.… Read More
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A Global Perspective Of Israeli Tech In 2015
From the Chinese stock market crash that shook global equity markets to the obsession with hunting for unicorns, 2015 was a year filled with volatility and non-traditional capital flowing into the private markets. Israel felt the effects of these global trends. Whether it’s sectors like cyber and fintech heating up or syndications and co-investments leading to increased round sizes… Read More
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Mobile Payment Platform Minkasu Raises $1M Seed Round
It faces several formidable rivals, but Minkasu believes it has developed the easiest way to make mobile payments. The startup’s iOS and Android app stores encrypted credit card information, does not need passwords, and lets shoppers complete transactions with one click. Read More
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With $90 Million In New Funding And Unicorn Status, Anaplan Looks Ahead to IPO
Anaplan announced a $90 million round today at a valuation of S1.09 billion after funding, putting the company squarely in unicorn territory, those companies with valuations of a billion or more. What’s more, CEO Fred Laluyaux said this will be the last private round prior to an IPO some time in “the not-too-distant future.” To that end, he announced that the company… Read More
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Families Get Screwed Sending Dollars To Mexico. TransferWise Does It 4X Cheaper
Money transfers are a crooked racket. They’re designed to hide just how much cash they steal from immigrant workers sending funds to family back home. Western Union, Moneygram, even PayPal’s Xoom trumpet that they only charge around $5, but quietly pocket people’s money by setting their own unfair exchange rate. TransferWise wants to put an end to all this bullsh*t. Today the… Read More
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