Cyber firm Darktrace confirms plans for London float in early May April 19, 2021 UK cybersecurity company Darktrace today confirmed it will float on the London Stock Exchange in the coming weeks as it looks to build on a successful pandemic year. The firm’s offer price will be determined following a book-building process, with the listing expected to take place early next month. The company is understood to be [...]
Priti Patel warns Facebook’s encryption plans could harm child safety April 19, 2021 Facebook’s plans to roll out end-to-end encryption across its messaging platforms could mark a setback for efforts to protect children from online abuse, the home secretary is set to warn. The social media giant has unveiled plans to extend encryption — which means only the sender and recipient can view messages —— to Messenger and [...]
Starling Bank secures £50m investment from Goldman Sachs April 19, 2021 Digital lender Starling Bank has extended its latest funding round with a £50m investment from Goldman Sachs. Last month it announced a £272m Series D funding round led by Fidelity Management & Research which valued it in excess of £1.1bn pre-money. Starling Bank today said Goldman Sachs investment marked an extension of the oversubscribed round, [...]
Revolut targets $10bn valuation in upcoming funding round April 17, 2021 Revolut is eyeing a new fundraising round which would see the challenger bank’s valuation soar to more than $10bn. Last summer the neobank raised a further $80m to close out its series D funding round from private equity firm TSG, valuing the company at $5.5bn. Now Revolut has enlisted the help of US-based investment bank [...]
Elon Musk’s SpaceX wins NASA contract to send humans to the Moon April 17, 2021 NASA has chosen Elon Musk’s SpaceX to build a lander that will send humans to the Moon in the next decade. On Friday the space agency announced Musk had fought off rival tech billionaire Jeff Bezos’ to land the $2.89bn contract. The lander is based on SpaceX’s Starship craft, which is being tested at a [...]
UK fintech investment off to flying start after series of mega deals April 16, 2021 After a gruelling year the UK’s fintech industry is back with a bang, attracting nearly $3bn across more than 100 deals in the first quarter alone. The fintech sector raised a total of $2.9bn in the first three months of the year across 117 deals, with investment levels 153 per cent higher compared to the [...]
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Facebook splashes out $23m on Mark Zuckerberg’s security April 14, 2021 Facebook forked out more than $23m (£16.6m) on security for its chief executive Mark Zuckerberg last year. In a filing published this week the tech giant said it handed the boss $23.4m in compensation in 2020 to cover personal security at his homes and during personal travel. Of this, $13.4m represented a security allowance while [...]
UK must make tech firms pay for news, says competition watchdog April 13, 2021 The UK must introduce a new code to ensure news publishers are fairly compensated for the use of their stories on tech platforms, the competition watchdog has said. Daniel Gordon, senior director of markets at the Competition and Markets Authority (CMA), said his organisation agreed with the principles behind a new Australian law requiring tech [...]