Draper Esprit leads £7m funding round in deep tech firm Hadean March 7, 2019 Venture capital firm Draper Esprit has led a £7m funding round in London deep tech firm Hadean. Hadean has created the world’s first cloud-first operating system to allow programmers to scale up their code and reduce the manpower and time wasted on engineering. Read more: London-listed Draper Esprit to double down on Europe with £100m [...]
Music streaming revenues overtake ownership for the first time amid shift to ‘rental’ market March 4, 2019 The popularity of subscription services reached record levels in the UK last year as music streaming revenues overtook ownership formats for the first time. Revenues from paid-for music subscription services such as Spotify jumped 39 per cent last year to £829m, meaning subscriptions now account for 62 per cent of all music revenues, according to figures [...]
Software developers beat average UK salary by 154 per cent February 28, 2019 Top developers earn 154 per cent more than the average Brit, a report released today has revealed, with blockchain fuelling a rise in employer demand for such skills. Read more: Blockchain oil firm taps former JP Morgan director as new chief Software supremos command an average salary of £71,000 a year compared with the UK [...]
Playtech shares rise as it plots €40m buyback after drop in profits February 21, 2019 British gambling software provider Playtech saw shares rise almost nine per cent today as it announced a €40m (£34.7m) share buyback scheme after full-year profits plummeted. Read more: Paddy Power buys stake in Georgia's biggest online betting firm The figures Total revenue for 2018 grew 54 per cent year on year to €1.24bn. But net profit slumped 50 per [...]
Angry Birds maker Rovio predicts bumper 2019 despite halved profits February 14, 2019 The maker of the mobile game Angry Birds said its profit halved over the most recent quarter, but expected a brighter future as the year goes on. Rovio reported adjusted profit of €5.3m (£4.7m) for the three months to the end of December, down from €10.5m in the same quarter a year earlier. This was despite [...]
It’s Valentine’s Day – here’s what to do when your romantic and professional lives collide February 14, 2019 If you date anyone in your industry, make sure you’re prepared to marry them. The stakes are just naturally so much higher when you decide to work with your partner – or date your colleague. In one fell swoop, you can tear up your relationship and professional status, divide a workplace into rival factions, and have [...]
Clash of Clans maker Supercell reports second consecutive year of falling profits February 12, 2019 Mobile gaming firm Supercell has posted falling sales and profits for a second year running, reporting a 26 per cent drop in income as its bestselling titles fail to age gracefully. The Finnish firm, which was the brains behind viral iPhone games Clash of Clans and Clash Royale, was last valued at $10bn (£7.8bn) in 2016 [...]
Nvidia slashes its fourth quarter guidance, sending its shares into a downward spiral January 28, 2019 Chipmaker Nvidia has cut its fourth quarter revenue estimate by $500m (£379.7m) after its performance in China slowed, causing its share price to spiral down more than 18 per cent. Chief executive Jensen Huang said the firm had suffered an "extraordinarily, unusually turbulent and disappointing quarter", as Nvidia forecasted revenue of $2.2bn for the quarter ending in [...]
Dixons Carphone enjoys gaming boost but signals more trouble in mobile market January 22, 2019 Dixons Carphone retained its full-year profit guidance this morning as a surge in gaming and super-size TV sales over the crucial Christmas trading period helped counter a persistent slump in demand for postpaid mobile phones. Buoyed by foreign demand from markets such as Sweden, Denmark and Greece, the FTSE 250 kept its profit guidance of roughly [...]
Chinese tech firm Tencent is considering a bid for Nexon’s holding company January 19, 2019 Chinese tech firm Tencent is weighing up a bid for the holding company that controls South Korean gaming company Nexon. Tencent is looking to enlist co-investors as it considers making a move to acquire the company, according to Reuters. Private equity firms are looking at options for a potential deal, including taking the company private. [...]