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.
Subscription billings platform Zuora announced that it has nabbed another huge round of funding at $115 million on Wednesday, bringing its total capital raised to $250 million.Zuora CEO Tien Tzuo didn’t comment on the company’s valuation or its financial figures.
The retirement accounts of millions of Americans have long contained shares of stalwart companies like General Electric, Ford and Coca-Cola. Today, they are likely to include riskier private stocks from Silicon Valley start-ups like Uber, Airbnb and Pinterest, David Gelles and Conor Dougherty report.Big money managers including Fidelity Investments, T.
o, why the car industry? Because the automobile industry is massive.This chart, made for us by BI Intelligence based on data from Morgan Stanley , shows that the car market is roughly the size of the smartphone market in terms of sales.
Morgan Stanley just came out with an incredibly bullish video illustrating their views on Tesla's explosive potential. Adam Jonas, who leads the auto research team at Morgan Stanley, offers his view of why Tesla "may be the world's most important car company:"This is a hyper-ambitious company, and the only one we cover whose stock price can realistically multiply by ten.
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.
YOU might be worth a million (someday), but your pre-revenue company is not... and it def ain't worth $8-12M+ cap."Y Combinator head Sam Altman agrees with other recent complaints that early stage startups are often overvalued. But he blames investors, not the founders who started those companies.
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.
The ride-hailing app Uber, the apartment rental site Airbnb and other darlings of the next generation of Silicon Valley start-ups are reshaping the way people use the web, David Gelles reports. They are also changing expectations about just how much money private companies can raise while still staying out of the public markets.
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.
Google will be paying its new CFO, former Morgan Stanley CFO Ruth Porat, a salary of $650,000, with a one-time signing bonus of $5 million, according to a new SEC filing. She'll also be getting a $25 million new hire grant and a $40 million biennial grant in 2016. Not bad, considering Porat made $29.6 million in total compensation at Morgan Stanley from 2010 to 2013, according to Reuters .
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.
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.
Ruth Porat, Google’s new chief financial officer, is joining a company that has more than 50,000 employees and is one of the most valuable corporations in the world. Thus, given Google is long past its early days, it’s not the kind of place that will make her a start-up billionaire.
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.