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Salesforce buying Slack would mark the first big software deal in a boom year for the cloud

Salesforce buying Slack would mark the first big software deal in a boom year for the cloud

Key PointsThe tech industry has seen some hefty deals announced during the 2020 pandemic, including several in the tens of billions of dollars. But not in software.That could change soon. , which has been one of tech's biggest acquirers in recent years, has been in talks to buy , CNBC and other media outlets on Wednesday. Slack shares surged almost 38% after the initial report, lifting its market cap to $23 billion.It would be one of the biggest software acquisitions ever, and potentially the largest since bought Red Hat for $34 billion, a purchase in 2018.The dearth of big software deals...

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Jordan Novet
2d ago
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Tech companies are lining up to go public — here's what we learned from the most recent wave of IPO filings

Tech companies are lining up to go public — here's what we learned from the most recent wave of IPO filings

Key PointsTech investors have plenty of reading to do over the Thanksgiving holiday in the form of IPO filings. , , , and all unveiled their prospectuses in the past eight days, with plans to go public before year-end.They're taking advantage of a post-election rally that's lifted U.S. stock indexes near record highs and a clear demand in the public market for high-growth investments.All five companies serve consumers and can expect a busy holiday season in the face of surging coronavirus cases and a drastically altered economy. It's a very different slate of entrants to the market than the...

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Ari Levy
Nov 21
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Gaming company Roblox files IPO prospectus after 91% jump in revenue

Gaming company Roblox files IPO prospectus after 91% jump in revenue

Key PointsRoblox, whose online gaming software has been hugely popular with kids during the pandemic, filed its IPO prospectus on Thursday, joining a of companies that are trying to go public before the end of the year.Revenue in the third quarter jumped 91% from a year ago to $242.2 million, Roblox said in the . Its net loss more than doubled to $48 million. Roblox's platform contains millions of games that can be played across , and devices as well consoles. , and online lender have also filed to go public in the past week, taking advantage of a post-election rally in U.S. stocks and...

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Ari Levy
Nov 19
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Unity prices IPO above range at $52, initially valuing game software company at $13.7 billion

Unity prices IPO above range at $52, initially valuing game software company at $13.7 billion

Keep Me Logged InKey PointsVideo game software developer priced its IPO above the expected range on Thursday in an offering that initially values the company at $13.7 billion, CNBC has confirmed.Unity sold shares at $52 apiece, after on Wednesday to between $44 and $48. Reuters was first to report on the pricing. A Unity spokesperson didn't immediately respond to a request for comment.Unity is wrapping up one of the for IPOs this year, highlighted by the Wednesday debut of , which in value to close the day with a market cap over $70 billion.Founded in 2004, Unity has become a major player...

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Ari Levy
Sep 17
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A low-profile investor who bet on Snowflake eight years ago is up more than $12 billion after IPO pop

A low-profile investor who bet on Snowflake eight years ago is up more than $12 billion after IPO pop

Keep Me Logged InKey PointsTwo months after massive in 2012, venture capitalist Mike Speiser was a few miles away from the social networking company, incubating a software start-up from his nondescript office near a movie theater in Palo Alto, California.The company he eventually launched, , debuted on the New York Stock Exchange on Wednesday and ended the day with a north of $70 billion, delivering Speiser the kind of return reminiscent of Facebook's IPO eight years ago.Sutter Hill Ventures, where Speiser has served as managing director since 2008, owns of Snowflake's outstanding shares,...

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Ari Levy
Sep 16
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Palantir is being valued around $10.5 billion ahead of direct listing as investors question growth story

Palantir is being valued around $10.5 billion ahead of direct listing as investors question growth story

Keep Me Logged InKey PointsAs Palantir gears up for its stock market debut, the company has a long way to go to convince potential shareholders that it's worth the that investors gave it almost five years ago.Palantir held a virtual event for investors on Wednesday. The company, whose software helps government agencies and large corporations make sense of vast amounts of data, also released an , indicating that the number of shares outstanding increased in the third quarter, to 1.64 billion from 1.53 billion in the prior period.Based on an average share price transaction in the latest...

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Ari Levy
Sep 9
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Tech companies are ending leases and consolidating offices as remote work is here to stay

Tech companies are ending leases and consolidating offices as remote work is here to stay

Keep Me Logged InKey PointsOn a Saturday in April, several executives from rented a U-Haul, drove it to their office in Seattle and loaded up the truck with stand-up desks, 48-inch monitors and various other gadgets and personal belongings. For two days, they traversed town, dropping the items off at employees' houses and apartments.With the coronavirus forcing non-essential employees to shelter in place, it had been weeks since any the start-up's 20 or so staffers had worked at the office. It was clear they wouldn't be going back.The lease expires July 31, and SoundCommerce CEO Eric Best...

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Ari Levy
Jul 13
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Tech workers are opening their wallets to beat Trump even with stock prices soaring and profits near records

Tech workers are opening their wallets to beat Trump even with stock prices soaring and profits near records

Keep Me Logged InKey PointsTheir stock prices are near record levels. So are their profits. Their founders are among the wealthiest people on the planet.But while the world's most valuable tech companies have expanded their dominance in the 3 1/2 years of presidency, with an assist from corporate tax breaks, employees at those same companies are more adamant than ever about unseating him.  "A lot of people have been making a lot of money in Silicon Valley while watching the world fall apart," said , a former start-up founder who last year started the non-partisan Council on Technology and...

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Ari Levy
Jul 4
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Etsy's stock jumps to record, tripling in three months on surge in face mask sales

Etsy's stock jumps to record, tripling in three months on surge in face mask sales

Keep Me Logged InKey PointsOver the first three weeks in March, lost half its value on concern that an economic slowdown caused by the coronavirus would batter consumer sales. Then people started turning to the site to buy masks, and Etsy took off.Since bottoming on March 20, Etsy's stock price has more than tripled. The shares jumped 5.1% on Tuesday to a record $101.22, after RBC Capital Markets raised its price target to $117 from $79 and increased its target to $120 from $88.RBC wrote in a report that it conducted a survey of buyers, and 82% of respondents said they expect to spend more...

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Ari Levy
Jun 23
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Amazon bans police use of facial recognition technology for one year

Amazon bans police use of facial recognition technology for one year

Keep Me Logged InKey Points said on Wednesday that it's use of its facial recognition software by police for one year, as pressure on tech companies builds to respond to the killing of George Floyd by a police officer in Minneapolis."We've advocated that governments should put in place stronger regulations to govern the ethical use of facial recognition technology, and in recent days, Congress appears ready to take on this challenge," Amazon said in a statement. "We hope this one-year moratorium might give Congress enough time to implement appropriate rules, and we stand ready to help if...

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Ari Levy
Jun 10
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Black tech CEOs explain why the killing of George Floyd hits so close to home

Black tech CEOs explain why the killing of George Floyd hits so close to home

Keep Me Logged InKey PointsA lot of tech CEOs have at the death of George Floyd, proclaiming in tweets that #BlackLivesMatter.Charley Moore is different — he can actually relate.Moore, the CEO of , said he was racially profiled just last fall, while driving in Vermont with his son, who's in college about an hour south of Burlington. Moore said he filmed the incident on his phone from the moment the officer pulled them over, despite the fact that they weren't speeding or breaking any clear law. "When he saw I was recording, he said, 'What do you do for a living?'" said Moore, whose company...

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Ari Levy
Jun 2
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Working from home is here to stay, even when the economy reopens

Working from home is here to stay, even when the economy reopens

Keep Me Logged InKey PointsWe asked experts in various fields for their best predictions on what the world will look like when the coronavirus pandemic finally recedes. In this segment of our series, "l," we examine what happens when office life reopens and what becomes of remote work. ***While pushes states to allow businesses to reopen, companies in technology, financial services, insurance and other industries that can successfully function over internet lines are choosing to keep their people home.Long commutes have been replaced with heavy use, and workers in big cities are in no hurry...

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Ari Levy
May 11
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Google set to take a hit as travel websites slash online ad spending

Google set to take a hit as travel websites slash online ad spending

Keep Me Logged InKey PointsWhen reports first-quarter earnings Tuesday afternoon, the coronavirus-induced crash in tourism and travel will likely weigh heavily on the results., the parent of Booking.com, Priceline and Kayak, will slash its ad spending on Google from about $4 billion in 2019 to $1 billion to $2 billion this year, according to Mark Mahaney, an analyst at RBC Capital Markets. "This is highly contingent on when COVID lockdowns end," he said in an email to CNBC. Travelers use Booking's sites to reserve flights, hotels, resorts, vacation homes and rental cars. Chairman told...

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Ari Levy
Apr 28
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Plunge in digital ad prices opens spending opportunity for start-ups in gaming, e-commerce and online education

Plunge in digital ad prices opens spending opportunity for start-ups in gaming, e-commerce and online education

Keep Me Logged InKey PointsThe epidemic has so ravaged travel, live entertainment and physical retail that companies across those industries have frozen their marketing, causing ad prices to plunge.Meanwhile, online beauty brand is generating so much business that it's snapping up ad space at a discount.Based in Los Angeles, Insert Name Here sells hair extensions and wigs, which are in high demand now that women are unable to visit their hairstylists. To reach all those consumers who are stuck at home, Insert Name Here is working with social media influencers to create do-it-yourself...

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Ari Levy
Apr 19
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