Zoom looks to future-proof with $100m productivity app fund April 19, 2021 Zoom today unveiled plans to launch a $100m (£72m) venture fund to invest in productivity apps, marking the video calling platform’s efforts to maintain momentum following the pandemic. The company said its Zoom Apps Fund will help to generate growth for its portfolio of apps as it looks to integrate other technology into its own [...]
UK launches national security review into Nvidia’s $40bn Arm takeover April 19, 2021 The UK has launched a review into Nvidia’s planned $40bn (£30bn) takeover of British chipmaker Arm amid concerns it could harm national security. Digital secretary Oliver Dowden today issued a public interest intervention notice (PIIN) relating to the proposed deal. Cambridge-based Arm is one of the world’s leading semiconductor companies. Chips are key to technologies [...]
Huawei and Dutch telecoms firm hit back over spying report April 19, 2021 Huawei and Dutch telecoms firm KPN have hit back at claims that the Chinese tech giant was able to eavesdrop on mobile users following a media report that has reignited the row over telecoms security. A story published in Dutch newspaper De Volkskrant this weekend cited a 2010 report by consultancy Capgemini for KPN, which [...]
Treasury to move forward with recommendations set out in listings review April 19, 2021 The Treasury will move forward with recommendations made by Lord Hill to encourage more fintechs to list in the UK. Last month the former EU commissioner published a set of recommendations which called for a range of deregulatory measures. Among the recommendations was the use of dual class shares, which allow company founders to maintain [...]
UK tech optimism hits seven-year high on recovery hopes April 19, 2021 UK tech companies are now more optimistic about their short-term growth prospects than at any time over the last seven years, according to new figures published today. Firms in the burgeoning British tech sector reported strong confidence that business activity will bounce back strongly after the latest national lockdown and as Brexit-related uncertainty among clients [...]
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 [...]