Tech, Business, Finance and Everything Else
Here are the steps on how to add AI plugins to Figma:
Yes, Zendesk went private on November 22, 2022. The company was acquired by a consortium of private equity firms led by Hellman & Friedman and Permira in an all-cash transaction that valued the company at approximately $10.2 billion. As part of the deal, Zendesk shareholders received $77.50 per share in cash.
The acquisition was the culmination of months of pressure from activist investor Jana Partners, which had been pushing for Zendesk to go private. Jana had argued that the company was undervalued as a public company and that it would be better off operating as a private company.
The acquisition of Zendesk is a sign of the growing trend of private equity firms acquiring technology companies. In recent years, private equity firms have acquired a number of high-profile technology companies, including GitHub, SurveyMonkey, and Slack.
The CEO of MongoDB, Dev Ittycheria, owns 218,085 shares of MongoDB stock. As of July 27, 2023, these shares are worth approximately $89 million. This represents about 0.22% of the company’s outstanding shares.
Ittycheria has been the CEO of MongoDB since 2014. He is also a director of Datadog Inc. and athenahealth Inc. His total yearly compensation is $13.23 million, comprised of 3% salary and 97% bonuses, including company stock and options.
Ittycheria’s ownership of MongoDB stock has increased significantly in recent years. In 2014, he owned just 16,000 shares of the company. However, he has since exercised stock options and purchased additional shares on the open market.
Ittycheria’s ownership of MongoDB stock gives him a significant financial stake in the company’s success. It also gives him a strong voice in the company’s strategic direction.
Michael Cannon-Brookes owns approximately 109.44 million Class B shares and 381,836 Class A shares of Atlassian. This represents approximately 43.08% of Atlassian’s outstanding Class B and Class A ordinary shares, taken together, and approximately 87.91% of the voting power.
In other words, Cannon-Brookes owns about 22% of Atlassian’s total shares, but he has control over about 88% of the company’s voting power. This is because Class B shares have ten times the voting power of Class A shares.
Cannon-Brookes is the co-founder and co-CEO of Atlassian, and he is one of the richest people in Australia. His net worth is estimated to be around $13 billion.
(as at May 2022)
As of February 3, 2023, Atlassian’s CEO, Scott Farquhar, owns 54,717,824 Class B shares. This represents 15.5% of the company.
Farquhar is the co-founder and CEO of Atlassian, a software company that develops products for software development teams. He has been with the company since its inception in 2002. Farquhar is a visionary leader who has helped to transform the software development industry with Atlassian’s cloud-based software solutions. He is also a strong advocate for corporate social responsibility and employee success.
Spotify, the world’s leading music streaming service, today announced strong financial results for the second quarter of 2023. The company’s revenue grew 11% year-over-year to €3.2 billion, and its monthly active users (MAUs) grew 27% to 551 million. Spotify’s premium subscribers grew 17% to 220 million, and its advertising revenue grew 30% to €243 million.
Spotify’s CEO, Daniel Ek, said that the company is “very pleased” with its second quarter results. He attributed the company’s growth to its “strong global expansion,” its “continued focus on innovation,” and its “growing partnerships with the music industry.”
Ek also said that Spotify is “well-positioned for continued growth in the years to come.” He pointed to the company’s “large and growing user base,” its “strong financial position,” and its “continued investment in innovation” as reasons for his optimism.
Spotify’s results come at a time when the music streaming industry is booming. In 2022, the global music streaming market was worth an estimated $25.6 billion. This is up from just $7.3 billion in 2015. The growth of the music streaming industry is being driven by a number of factors, including the increasing popularity of smartphones and tablets, the growing availability of high-speed internet, and the rising cost of traditional music formats, such as CDs and vinyl.
Spotify is one of the leading players in the music streaming industry. The company has a significant market share in both developed and emerging markets. Spotify is also one of the most innovative companies in the industry. The company has been at the forefront of developing new features, such as personalized playlists and podcasts.
Spotify’s strong financial results and its leading position in the music streaming industry suggest that the company is well-positioned for continued growth in the years to come.
Here are some additional details from the article:
Spotify’s management team is optimistic about the company’s future. They said that they expect Spotify to continue to grow its user base and revenue in the years to come. They also said that they are committed to investing in innovation and partnerships with the music industry.thumb_upthumb_downtuneshareGoogle it
Analysts have a wide range of price targets for Nu Holdings in the next 12 months. The median price target is $7.85, with a high of $11.00 and a low of $4.00.
Here is a breakdown of the price targets from a few different analysts:
These price targets reflect the analysts’ view of Nu Holdings’ growth prospects and valuation. The median price target of $7.85 suggests that analysts believe Nu Holdings is fairly valued at its current price. However, the high price target of $11.00 suggests that some analysts believe the company has the potential to grow significantly in the future.
Google is reportedly testing an artificial intelligence (AI) tool that can generate news articles.
The tool, codenamed “Genesis,” is still in development, but it has already been demonstrated to a small group of journalists from The New York Times, The Washington Post, and News Corp.
Genesis can generate articles on a variety of topics, including current events, business, and entertainment. It does this by first gathering information from a variety of sources, such as newswires, social media, and public data. It then uses this information to create a “story skeleton,” which is a basic outline of the article. Finally, Genesis uses its AI capabilities to fill in the details of the story, such as the headline, lead paragraph, and body text.
The journalists who have seen Genesis in action have been impressed with its ability to generate accurate and informative articles. However, they have also raised concerns about the potential for bias and misinformation.
Farizon Auto, the truck unit of Chinese automaker Geely, has raised $600 million in a Series A funding round led by Geely Holding Group. The funding will be used to support Farizon’s expansion outside of China.
Farizon Auto was founded in 2021 and is headquartered in Hangzhou, China. The company develops, manufactures, and sells commercial vehicles, including trucks, buses, and vans. Farizon’s products are currently sold in China, and the company plans to expand to other countries in Asia, Europe, and South America in the coming years.
The $600 million funding round was led by Geely Holding Group, which is the parent company of Geely Auto. Other investors in the round include CMB International Capital, Hillhouse Capital, and Sequoia Capital China.
Farizon Auto’s CEO, An Conghui, said that the funding will help the company “accelerate its global expansion and become a leading player in the commercial vehicle market.”
The global commercial vehicle market is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2022 to 2027. This growth is being driven by the increasing demand for commercial vehicles in emerging markets such as China, India, and Southeast Asia.
Li Auto CEO Li Xiang has confirmed that the company has no plans to expand overseas by 2025. In an interview with TechNode, Li said that the company is focused on consolidating its position in the Chinese market before expanding to other countries.
Li Auto is a Chinese electric vehicle maker that was founded in 2015. The company’s first model, the Li One, was launched in 2019. The Li One is a hybrid SUV that combines an electric motor with a gasoline engine. The Li One has been a success in China, with the company selling over 100,000 units in 2022.
Li Xiang said that Li Auto is not currently considering expanding to overseas markets because the company wants to focus on improving its products and services for the Chinese market. He said that the company is also concerned about the challenges of expanding to other countries, such as different regulations and infrastructure.
However, Li Xiang did not rule out the possibility of Li Auto expanding overseas in the future. He said that the company will “continue to monitor the global market” and “make decisions based on the best interests of the company.”
WeChat Pay, the popular mobile payment app in China, has announced that it will now accept foreign credit cards for payment in China. This is a major development for WeChat Pay, as it will make it easier for foreign tourists and businesses to use the app in China.
To use WeChat Pay with a foreign credit card, users will need to add their card to their WeChat Pay account. They can do this by going to the “Wallet” tab in WeChat and clicking on the “Add Credit Card” button. Once they have added their card, they will be able to use it to make payments at any merchant that accepts WeChat Pay.
WeChat Pay’s decision to accept foreign credit cards is a sign of the company’s growing global ambitions. The app is already popular in China, but it is also looking to expand its reach to other countries. Accepting foreign credit cards will make it easier for WeChat Pay to attract users outside of China.
NuBank (Nu Holdings) is pushing the banking industry in Brazil, Mexico and Colombia.
I have been wanting to invest in NuBank for some time, but I have thought for the past year or so – that their market cap has become so large that they are simply just un-investable at these levels.
To prove this was the case I thought I would do a very simple side by side comparison with a legacy bank that is predominantly in key markets.
| Metric | Nu Holdings | Barclays |
|---|---|---|
| Assets Under Management | $10.2B | $2.3T |
| Number of Customers | 30M | 48M |
| Revenues | $1.2B | $25.4B |
| EBITDA | $-78M | $9.3B |
| Countries | 3 | 50 |
| Market Cap | $35 billion | $28 billion |
I know NuBank is in 3 emerging markets – with at least 200 million people in those countries that are currently unbanked. However, even if NuBank was able to have 100 million customers – expand their product lines and then start to really focus on other markets – do you think they can really grow to the AUM or sheer network size of Barclays?
Or is this a perfect short sell position?
Deezer, the global music streaming platform, today announced the launch of its new automotive app. The app is available in cars with Google built-in and cars with the automotive app store Faurecia Aptoide.
The Deezer automotive app offers a number of features designed to make it easy for drivers and passengers to enjoy their music while on the go. These features include:
The Deezer automotive app is available now in select markets. To learn more, please visit the Deezer website.
Here’s a more detailed explanation of some of the features of the Deezer automotive app:
The Deezer automotive app is a great way for drivers and passengers to enjoy their music on the go. The app offers a number of features that make it easy to find and listen to the music you love.
Wise.com Interest Accounts are a new product that allows customers to earn interest on their USD, GBP, and EUR balances. There are no balance minimums or fees involved, and customers can still send, spend, or hold their money as they normally would.
Wise stores customer funds with program banks, which generates interest. The current variable annual yield on USD balances is 4.79%, GBP balances is 4.22%, and EUR balances is 2.83%.
To opt in to the Interest feature, customers simply need to open the Wise app or website and go to their existing USD, GBP, or EUR balance. They can then click on the “Interest” button to add the feature.
Wise.com Interest Accounts are a great way to earn a little extra on your money while still having the flexibility to use it as you need.
Atlassian was founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, two students at the University of New South Wales in Sydney, Australia. The company’s first product was Jira, a project management tool. Jira was originally developed for use by the students at the university, but it quickly gained popularity among other software development teams.
Atlassian bootstrapped the company for its first eight years. This means that they funded the company’s operations with their own money and did not raise any outside funding. This was a risky decision, but it paid off in the long run. Atlassian was able to maintain control of the company and focus on its long-term goals.
There were a few factors that helped Atlassian go so long without raising outside funding. First, the company’s products were well-received by the market. Jira was a valuable tool for software development teams, and it helped Atlassian to generate enough revenue to self-fund. Second, the company’s founders were experienced entrepreneurs who had a clear vision for the company. They were able to manage the company’s finances carefully and to make sure that the company was profitable.
In 2010, Atlassian raised $60 million in venture capital funding (but this was for a secondary round).
Atlassian is now a global company with over 7,000 employees. It is one of the most successful software companies in Australia, and it is a leader in the project management and collaboration software market. The company’s story is an inspiration to entrepreneurs everywhere, and it shows that it is possible to build a successful company without raising outside funding.
No, Atlassian never raised any primary funding. The company was founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, who bootstrapped the company with their own savings. Atlassian went public in 2015, and it has been profitable ever since.
Here are some of the reasons why Atlassian never raised primary funding:
Atlassian’s decision to not raise primary funding has been a major factor in its success. The company has been able to maintain its independence and focus on its long-term goals. It has also been able to avoid the dilution of its ownership that often comes with venture capital funding.
Here are the top 5 largest music streaming services in Japan with their market share numbers:
| Service | Market Share (2022) |
|---|---|
| Spotify | 24.1% |
| Apple Music | 21.5% |
| Amazon Music Unlimited | 15.5% |
| LINE Music | 13.1% |
| AWA | 10.2% |
As you can see, Spotify and Apple Music are the two leading music streaming services in Japan, with a combined market share of 45.6%. Amazon Music Unlimited is the third-largest service, followed by LINE Music and AWA.
It is worth noting that the Japanese music streaming market is still relatively young, and the landscape is constantly changing. In recent years, there has been a growing number of domestic music streaming services entering the market, such as LINE Music and AWA. These services are targeting Japanese listeners with exclusive content and features, and they are slowly gaining market share.
It will be interesting to see how the Japanese music streaming market evolves in the coming years. With the increasing popularity of streaming, it is likely that the market will continue to grow. However, it is also likely that the market will become more fragmented, as more and more domestic services enter the fray.
what3words is currently raising funding via crowdfunder – Crowdcube. I have always found What3words quite an interesting concept, so I thought I would dig into their numbers.
On the crowdcube pitch – it states – Over £100M in all-time funding – https://www.crowdcube.com/companies/what3words-2/pitches/lz91xq.
Why is what3words crowdfunding for a target of £1m when they have received over £100m though the company life – marketing purposes only ???
Attached is their P&L for 2022. While they have nearly doubled revenues from 2021 to 2022 – it still seems a giant world away from where they need to be to have raised over £100m in funding. They need to over 10x their current revenues to even get to a breakeven on the current valuation size.
Its going to be very interesting to see if this is possible and if it really solves a giant real world problem!
A long time ago I wrote about Shazam and how they stopped producing the software as a Windows app.
Today I have come across the updated Shazam Chrome Extension.
Its available here in the Chrome app store – and already has over 3 million+ users.
No long will you come across a website and hear a track playing in the background and not know who released that track.
Elon Musk said on Saturday that Twitter’s cash flow remains negative, due to a nearly 50% drop in advertising revenue and a heavy debt load. Musk had previously said that he expected Twitter to reach cash flow positive by June.
“We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load,” Musk said in a tweet. “Need to reach positive cash flow before we have the luxury of anything else.”
Twitter’s advertising revenue has been declining for several quarters. In the first quarter of 2023, advertising revenue fell 19% year-over-year. The decline in advertising revenue is likely due to a number of factors, including the ongoing war in Ukraine, rising inflation, and the increasing popularity of other social media platforms.
Twitter’s debt load is also a major concern. The company has about $13 billion in debt, which it used to finance Musk’s acquisition of the company. Musk has said that he plans to reduce Twitter’s debt load, but it is unclear how he plans to do so.
The combination of negative cash flow and a heavy debt load puts Twitter in a precarious financial position. If Twitter is unable to turn things around, it could be forced to sell itself or file for bankruptcy.
What does this mean for Twitter’s future?
The news that Twitter’s cash flow remains negative is a major setback for the company. It is unclear how Twitter will be able to turn things around, and there is a real risk that the company could be forced to sell itself or file for bankruptcy.
Musk has said that he is committed to turning Twitter around, but it is unclear how he plans to do so. He has proposed a number of changes, including reducing the company’s debt load, making the platform more user-friendly, and cracking down on spam and bots.
However, it is not clear if these changes will be enough to save Twitter. The company is facing a number of challenges, including the decline in advertising revenue, the increasing popularity of other social media platforms, and the ongoing war in Ukraine.
It is too early to say what the future holds for Twitter. However, the news that the company’s cash flow remains negative is a major setback, and it is clear that Twitter is facing some serious challenges.