Morgan Stanley analysts think GoPro's latest camera was a flop. The company launchedthe Hero4 Session in July, touting it as its most compact and most convenient camera yet. But according to Morgan Stanley's James Faucette and team, the camera has been a hard sell. The analysts cut their price target on the stock to $35 from $62, nearly 50%, with an "equal-weight" rating on the stock.
Whether you want to call it a bubble or not,the tech industry is booming. At last count there were 114 privately held companies with valuations of $1 billion or more — often called unicorns. Some, such as Uber and Airbnb, are worth tens of billions of dollars.For the tech industry, these are heady times. But economies and industries usually move in cycles. At some point the party has to end.
This story was originally sent to thousands of professionals just like you in this morning's IoT WEEKENDER newsletter. Don't be left in the dark while your competition gets ahead each morning. Learn more about our 7-day FREE trial now FITBIT’S IPO A BIG SUCCESS: On Wednesday night FitBit announced its official IPO price of $20 per share.
When I recently wrote about Slack, a corporate messaging app that has aspirations to replace email, investors valued the company at $1 billion. That was a month ago. Today, the start-up announced that it has raised $160 million from a half dozen investors, and that it is now worth $2.8 billion.
For Will Shu, the idea behind his tech start-up grew out of frustration.When he moved moved to London for the first time, to work as an analyst for Morgan Stanley, Mr. Shu could not find restaurants in the city’s financial district to deliver food when he worked late nights.“I ended up having to go to Burger King because no one would deliver,” he said.
Aileen Lee tried a few lesser terms before she hit on “unicorn.” One was “home run.” Another was “megahits.” Neither quite worked for what she was going for — an unusual, mysterious word to describe what, in the tech industry, was an unusual, mysterious phenomenon: American software companies that had achieved a valuation of at least $1 billion.It was the fall of 2013, and Ms.
mass-market, mass-merchandise online retailer thatpeople will actually pay to join, it needs tobe an "everything store" just like Amazon. And that's not easy."If they think that partnering with Jet will help them sell inventory that they otherwise wouldn't have sold, then they'll do it. But they've been investing in their own assets in fulfillment and ecommerce.
If it seems like a new, billion-dollar tech unicorn is born every week, you’re not imagining things.The number of private tech companies valued at $1 billion or more worldwide has surged so much this year that on average 1.3 unicorns have been created every week in 2015, according to data from CB Insights.
following earnings. The addition, which Morgan Stanley first spotted, seems to refer to the iPhone:Apple delivered a strong and generally positive earnings report earlier this week. It beat expectations for revenue. iPhone sales are up 35% from last year. Apple says more people are switching to the iPhone from Android now than ever before. The company has a record $203 billion in cash reserves.
Thumbtack, which handles marketing and job listings for professionals like yoga instructors and electricians, has raised $125 million and is now valued at about $1.3 billion.The investment catapults the six-year-old start-up into the ranks of the unicorns, a popular term for privately held companies that are valued at more than $1 billion. Thumbtack was valued at around $750 million last year.
Stock markets around the world plunged last week, capped off on Friday when some benchmark indexes had their biggest losses in years, partly from turmoil in China. Tech stocks did not escape the fall, with some companies being hit particularly hard, including Netflix, which tumbled more than 16 percent over the course of the week.
Affirm, a San Francisco-based consumer lending start-up, is adding $275 million in debt and equity to accelerate its growth plans.The big Series B funding round is a vote of confidence by investors in one of the more ambitious entrants into the emerging field of financial technology.
One of the most notable trends in Silicon Valley over the last five years has been the emergence of a group of highly valued start-ups, all valued at more than $1 billion, and known as unicorns. Only a small set of deep-pocketed investor, typically venture capitalists and hedge funds and mutual funds, has been able to participate in the run-up in valuations of these companies.
Twitter announced Monday that its users will be able to change a setting on their accounts to allow anyone to send them a private message. In addition, if a person follows a big account — for example, from a company like United Airlines — the Twitter user can respond to messages sent by that account even if the account, United in this case, does not follow that individual.
There's an increasing business case to be made for giving software away for free.Take Facebook, for example.As Facebook got bigger and bigger, it started running into some serious growing pains — it was generating more data than its data centers could handle. This was a problem, given that people expect Facebook to always be available and snappy.
The Edmonton Police Service issued hundreds of tickets for distracted driving in the city during its “Hang Up and Drive” campaign, a 24 hour ticketing blitz, on August 5.Edmonton Police Issue Hundreds of Distracted Driving Tickets, Fees in P.E.I Triple is a post from: iPhone in Canada Blog - Canada's #1 iPhone Resource