Pinterest files for $12.7bn IPO: What it needs to do next April 18, 2019 Image curation site Pinterest will list in the US when the New York Stock Exchange opens later today at $19 per share. The unicorn’s share price, which had more than 250m active users and 2bn searches last year, is above the target range and a valuation that the website received in 2017. Read more: Get [...]
Facebook admits uploading email contacts of 1.5m new users in latest privacy blunder April 18, 2019 Facebook has admitted it “unintentionally” uploaded the email address contacts of 1.5m new users since 2016 in the latest privacy misstep for the social media giant. The data scraping happened during the verification process for new accounts, when users were asked to supply their email address password and Facebook kept a copy of their address [...]
Laybuy is the payment platform from New Zealand shaking up the way we budget and shop April 18, 2019 Here in the UK, there are really only two ways for consumers to pay for a purchase. Whether buying in a store or online, people will either pay upfront, using cash or a debit card, or they’ll use a credit card, which they can settle at a later date. There are drawbacks to both methods. [...]
Investors launch class action against Apple over ‘concealed’ iPhone demand slump April 18, 2019 Apple has been accused of securities fraud for allegedly concealing a slump in iPhone demand, which sparked a $74bn (£57bn) slide in the tech giant’s market value. Investors that bought Apple stock in the two months before chief executive Tim Cook reduced the company’s quarterly revenue forecast by as much as $9bn in January have [...]
Cybersecurity firm Avast reports boosted revenue growth April 18, 2019 Cybersecurity firm Avast reported year-on-year revenue growth of 6.1 per cent in the first quarter of 2019. Adjusted revenue for the first three months of this year was $211.8m, up 6.1 per cent from $199.6m in the first quarter of 2018. Read more: Avast shares drop as chief executive prepares to step down The firm [...]
Peer-to-peer lender Funding Circle’s loans under management soar to record highs April 18, 2019 Peer-to-peer lending platform Funding Circle saw loans under management soar to record highs in the first three months of this year, the firm announced today. Loans under management grew 44 per cent to £3.4bn compared to £2.3bn in the first quarter of the previous year, and revenue growth soared by 40 per cent. Read more: [...]
DEBATE: Does Alibaba boss Jack Ma deserve the criticism for backing the ‘996’ working week? April 17, 2019 Does Alibaba boss Jack Ma deserve the criticism for backing the ‘996’ working week? Becci Gould, associate director at Kin&Co, says YES. I would challenge Jack Ma’s backing of working from 9am to 9pm, six days a week, not just from a mental health standpoint, but also from a business performance perspective. According to the [...]
London AI startup Cytora raises £25m from Swedish backer EQT Ventures April 17, 2019 Cytora, a provider of artificial intelligence (AI) technology to transform commercial underwriting in insurance, has today closed a £25m series B funding round led by EQT Ventures. Existing investors Cambridge Innovation Capital and Parkwalk also participated in the round, as well as a number of angel backers. Read more: Startups eye bigger slices of the [...]
Apple settles landmark $27bn legal battle with Qualcomm April 17, 2019 Tech giant Apple has ended a bitter two-year battle with former supplier Qualcomm, settling a patent dispute in California late last night. Qualcomm won a six-year patent licence deal and supply agreement with Apple as part of the settlement, as well as an undisclosed sum from the iPhone creator. Apple had previously been seeking $27bn [...]
Netflix predicts slowed subscriber growth as price hikes begin to hurt April 17, 2019 Netflix expects its subscriber growth rate to weaken in the coming months, as upcoming US price rises for its TV streaming site dampen the attraction of new users. The firm said it had gained a record number of 9.6m paid subscribers in the three months to March, taking its total up to 148.9m and ahead of [...]