Gousto investor MMC Ventures reveals £100m scaleup fund November 18, 2019 MMC Ventures has today revealed the close of its first fund for re-investing in its own portfolio of mature companies at £100m. The Scaleup Fund will provide capital to current firms in MMC’s roster that have outgrown the firm’s other funds, such as Interactive Investor and Safeguard Global. MMC, which was an early investor in [...]
London’s fintech boom helps drive record year for US investment November 18, 2019 US venture capital firms have pumped record amounts of money into London and UK companies this year as flourishing fintech firms continue to charm investors, new data has revealed. American investors have been involved in $4.4bn (£3.4bn) worth of deals into UK firms so far in 2019, with London businesses accounting for more than three-quarters [...]
Spotify backer Northzone secures $500m November 18, 2019 Early Spotify investor Northzone has today announced its ninth fund at $500m (£387.5m), which it said was raised at “record speed”. The oversubscribed pot attracted both new and existing investors, as a result of increasing interest in European early-stage startups. It takes the total amount raised by the Swedish venture capital giant to €1.5bn (£1.3bn). [...]
HP rejects Xerox’s $33.5bn takeover bid but keeps door open for potential merger November 17, 2019 Tech giant HP today said it had rejected a $33.5bn (£26bn) takeover offer by printer manufacturer Xerox. Read more: HP plans to cut up to 9,000 jobs HP said the bid “significantly undervalues” the company, but added that it remained open to a potential merger and hoped for further engagement with Xerox management. “[The board] [...]
TSB’s IT boss ‘kept board in dark’ ahead of tech meltdown November 17, 2019 TSB Bank’s head of IT reportedly failed to warn board members about “shortcomings” with the testing of a new technology system days before it suffered a huge meltdown. TSB is facing a lengthy investigation by City law firm Slaughter and May into the botched rollout of a new IT system that caused nearly 2m customers [...]
Twitter outlines political ad ban ahead of 2020 US election November 16, 2019 Twitter has announced its political advertising ban will include references to candidates and legislation. The social media site also said ads will not be allowed to advocate for certain outcomes on political and social causes. Twitter announced the ban last month, but on Friday disclosed more of the specifics of the ban for the first [...]
AirPods Pro review: An incredible step up to the top table of mobile audio for Apple November 15, 2019 Apple’s regular AirPods leave me cold. They look daft, with their elongated stalks – often compared to toothbrush heads – and have such poor sound insulation that unless you’re listening to music in an hermetically sealed room, everything sounds distant and muddy. When Sony came along with its excellent WF-1000XM3 noise cancelling buds it was [...]
Amazon to appeal Pentagon decision to award Microsoft $10bn cloud contract November 15, 2019 Amazon will appeal the US department of defense’s decision to award Microsoft a major cloud contract. Amazon, which already provides cloud computing for the Central Intelligence Agency, had been favourites to win the contract worth $10bn over 10 years. Read more: Nike pulls clothes and shoes from Amazon amid digital push The company has now [...]
Motorola Razr 2019: Flip phone revived with foldable screen model November 14, 2019 The iconic flip phone has made a comeback, with Motorola revealing an upgraded version of the once-universal device. Some 15 years after the original Razr hit the markets, Motorola is launching a slim retro reboot with a foldable screen. Read more: Revealed: The fastest growing tech companies in the UK The gadget, which is set [...]
Motherhood social app Peanut nets $5m from Facebook backer Index November 14, 2019 Peanut, a social networking app for mothers, has secured $5m in a funding round led by unicorn hunter Index Ventures. The investment takes Peanut’s total amount raised to date up to $9.8m, with previous backers including Felix Capital, actor Ashton Kutcher’s Sound Ventures and Greycroft. Index has previously invested in the likes of Dropbox, Facebook [...]