Snap’s head of content jumps ship despite recent launch of Netflix-style original video November 13, 2018 London entrepreneur Nick Bell has become the latest executive to leave Snap, as the vice president of content resigned only a month after launching the app's Netflix-style original service. Bell informed employees of his departure yesterday, leaving behind just one member of Snap's leadership team from when the company went public last year, outside of its two co-founders. [...]
Apple loses $50bn in market valuation as fears grow of slowing iPhone sales November 12, 2018 Apple's shares fell five percent tonight after a major supplier cut its financial outlook, leading to fears demand for the iPhone has plateaued. The fall slashed $50bn (£38.9bn) from Apple’s market valuation with shares falling $20.30 to $194.17. The losses mean Apple’s market capitalisation has fallen $190bn since October, more than the entire market value [...]
Fintech startup Revolut is in talks to raise $500m from Softbank November 12, 2018 British fintech startup Revolut is raising a $500m (£389m) series D round from the likes of Japanese mega-investor Softbank, in order to fuel its aggressive expansion plans. Several sources have told City A.M. that the deal is set to close early next year, as Revolut tries to launch its banking app in the US, one of [...]
Software giant SAP to buy Qualtrics for $8bn days before unicorn’s planned IPO November 12, 2018 Software giant SAP has agreed to buy Qualtrics for $8bn (£6.2bn) just days before the survey software firm's planned IPO. German software group SAP said its enterprise software and cloud services and Qualtrics' experience management platform would combine to be a “game changer” for companies to measure and act on feedback. US-based Qualtrics, a rival [...]
Stop blaming Brexit for a brain drain November 12, 2018 Brain drain. Talent drain. The only thing that is truly draining ahead of March 2019 is hearing tech leaders use Brexit as an excuse for not being able to build a great team. As any founder knows, staff are the beating heart of the company and the most vital asset that you have. Tech Nation’s [...]
European Union’s technology tax edging closer, says French finance minister Bruno Le Maire November 12, 2018 The European Union’s plan to tax internet giants such as Google, Amazon and Facebook is nearing completion, according to the French finance minister. The proposed three per cent technology levy would target multinational companies with global revenues of more than £660m a year, in a move that could raise £4.4bn a year across Europe. Bruno [...]
Embracing digital technology will help the City to shape the future of the UK November 12, 2018 As the 691st lord mayor of the City of London, I follow a long continuum dating back to 1189, before the Magna Carta. My focus over the next 12 months will be on how the City can help shape the UK’s future. In the eighteenth and nineteenth centuries, British innovations such as railways, cotton mills and [...]
Peer-to-peer currency exchange Weswap to list on Aim as it targets international expansion November 11, 2018 Peer-to-peer currency exchange platform Weswap will float on London’s AIM next month, the company announced today, as it targets international expansion. The UK fintech firm is aiming to raise between £15m to £20m, upping its market capitalisation to around £45m, to expand into the European and Asian market. It is also seeking to develop new [...]
Amazon to stock iPhones for Christmas after promise to clamp down on fake Apple products November 10, 2018 Parents or partners of Apple fans will be able to turn to Amazon this Christmas to buy the latest iPhone for their loved ones. In the next few weeks, the online retail giant will start selling iPhones and iPads in the US, Europe, Japan and India, expanding its previously limited range of Apple products. However, customers [...]
Apple pledges to repair iPhone and MacBook models with faulty screens and hard drives November 10, 2018 Apple has said it will service some products for free after discovering faults in iPhone X and MacBook Pro models. The company said the touch screen on some iPhone X devices will intermittently not respond to a user’s touch, or even react despite not being touched. The California-based producer said a part in the display [...]