Tech Weekly Newsletter: July 31, 2016

Last week, today

  • 7/21 – Since the Company split in two a little while back, HP Enterprise has apparently been struggling to pay thousands of its employees (mostly on the sales side) properly (Business Insider)
  • 7/22 – Apple said that Pokemon Go was downloaded more times in its first week than any other app in history (Business Insider)
  • 7/22 – Cyanogen, the forked version of Android that has raised over $110M, is laying off close to 30 employees (22% of its workforce) as the Company may pivot to focus on apps (Android Police). The CEO of the Company confirmed the layoffs but denied the pivot towards apps (Business Insider)
  • 7/25 – Yahoo sold to Verizon for $4.8B. Here is Marissa Mayer’s letter to employees on the sale (Re/Code) and here is the driving force (Marni Walden, EVP of Product Innovation and New Business) outside of Tim Armstrong that helped push the acquisition along (Re/Code)
  • 7/25 – The Information speculates on who is next in the world of tech buyouts including New Relic, Cornerstone OnDemand and PTC (The Information $)
  • 7/25 – Ericsson is searching for a new CEO after its current Chief Executive Hans Vestberg stepped down (Fortune)
  • 7/25 – Shares in Nintendo plummet 18% after earnings with people realizing that there would be de minimis impact from Pokemon Go on its earnings (Rocket News)
  • 7/25 – Amazon released that the amount of compute power added for Prime Day a little while back was actually equal to all of the AWS compute in 2009 (Business Insider)
  • 7/25 – Apple has brought back long-time executive Bob Mansfield (who led the hardware efforts with the MacBook Air, iMac desktop and iPad) to lead its efforts in autonomous vehicles (WSJ $)
  • 7/26 – Analog Devices said it would purchase rival chipmaker Linear Technology for $14.8B – creating a combined business with $5B in revenue (Fortune)
  • 7/26 – LogMeIn has acquired rival video conferencing provider GoToMeeting from Citrix for $1.8B. The combined entity should do $1B in proforma revenue this year (Fortune)
  • 7/26 – Tesla has confirmed that it will not renew its contract with Mobileye, the Israeli maker of driving-assistance chips and software. Shares of Mobileye dropped 13.7% on the news (Business Insider)
  • 7/26 – LinkedIn has acquired PointDrive to build out is social sales engagement platform (TechCrunch)
  • 7/26 – A10 Networks has acquired Appcito, which had raised $15M from March Capital and Cheng Wu (according to TechCrunch), to build out its support for cloud applications (Network World)
  • 7/26 – Hailo, an on-demand transportation company, announced that it has sold 60% of its company to Daimler and will merge and rebrand its operations under MyTaxi, which Daimler acquired in 2014 (TechCrunch)
  • 7/27 – Peak Ventures, a Utah-based seed fund, is launching its second fund according to an SEC filing. A target amount is not specified (SEC)
  • 7/26 – Volition Capital has raised $250M for its third fund, up from $170M in 2013 (TechCrunch)
  • 7/28 – So the rumors from the last few weeks are true and Oracle is paying $9.3B to acquire NetSuite. Entities by Larry Ellison and his family previously owned 40% of the Company and it appears that the two sides did nearly everything they could to prevent too loud of a claim of a conflict of interest. Oracle said that the deal would immediately add to its earnings (WSJ $)
  • 7/28 – Gurbaksh “G” Chahal is now officially out as the CEO of Gravity 4, after a domestic abuse claim that violated the probation set after his first domestic abuse charge (TechCrunch)
  • 7/28 – Microsoft is cutting an additional 2,850 jobs (mostly from its Nokia phone business), which come on top of the 1,850 layoffs the Company announced in May (Re/Code)
  • 7/28 – Talend, a ten year old open source, MDM vendor, went public and raised $94.5M as it priced at $18 a share, above its range of $15-17 and traded up 54% signaling that the more mid-market IPO window may be opening up (TechCrunch)
  • 7/28 – Facebook may owe between $3-5B in additional taxes as a result of an IRS investigation into how the Company transferred assets overseas (WSJ $)
  • 7/29 – Private Equity buyers (notably KKR, Apollo and Carlyle) are reportedly looking at a potential buyout of Hewlett Packard Enterprise in a deal that would likely be over $40B (The Information $)
  • 7/29 – Business Insider has the story on ClassPass, where it seems that CEO and founder Payal Kadakia is taking more of a backseat (Business Insider)

Earnings

  • 7/26 – Twitter shares drop 10% on lower than expected guidance (CNBC)
  • 7/26 – Apple beat earnings expectations and the stock trade 6.5%. Revenue was in-line with guidance, but still down 14.5% from the same period the year before (Business Insider)
  • 7/26 – Citrix beat earnings expectations but the stock traded down 5% on the acquisition of GoToMeeting (Market Realist)
  • 7/26 – Ultimate Software slightly beat earnings expectations but the stock remained largely flat (Community Financial)
  • 7/27 – Groupon reported better than expected earnings and the stock jumped 25% on news (Business Insider)
  • 7/27 – Wix beat analyst estimates and traded up 10.7% (TechCrunch)
  • 7/27 – ServiceNow barely beats earnings but the stock fell 5% due to lower than excited guidance (Investors.com)
  • 7/27 – Akamai posted earnings worse than analyst expectations and fell 16.4% on the news (The Street)
  • 7/28 – Facebook crushed earnings and traded up 6%. Re/Code has the details (Re/Code)
  • 7/28 – Amazon beat across the board, but the stock barely budged, trading up 2% on the news. AWS revenue was up to $2.88B for the quarter, up 58% year-over-year (Business Insider)
  • 7/28 – GoPro’s revenue fell 47% but beat analyst estimates and the Company traded up 6% on the news (Business Insider)
  • 7/28 – Google beat on both top and bottom lines, but more importantly showed 33% growth in its “other revenues,” which include its enterprise unit and the stock traded up 4% on the news (Re/Code)
  • 7/28 – GrubHub traded up 26% following crushing earnings on the top and bottom line (Forbes)
  • 7/29 – Expedia posted weaker than expected earnings due to terrorist attacks and hotel discounts. The stock fell 6% on the news (Fortune)

Financings

  • 7/25 – StackPath, a Texas-based cybersecurity startup, has raised $150 million in Series A funding from ABRY Partners
  • 7/27 – Upthere, a “no middleman” cloud storage and organization platform founded by Apple vets, has raised $77 million in VC funding. Kleiner Perkins Caufield & Byers and Western Digital co-led the round
  • 7/26 – Scopely, a Los Angeles-based mobile entertainment network, has raised $55 million in new VC funding. Greycroft Growth Fund led the round
  • 7/27 – EverFi, a Washington, D.C.-based online education platform, has raised $40 million in Series C funding. Backers include NEA, Rethink Education, Jeff Bezos and Eric Schmidt.
  • 7/28 – Vena Solutions, a Toronto-based provider of cloud-based corporate performance management software, has raised around C$30 million in growth equity funding from Centana Growth Partners
  • 7/27 – True Fit, a London-based footwear and apparel’s discovery platform, has raised $25 million in Series B funding from Jump Capital, Signal Peak Ventures and Intel Capital
  • 7/26 – Transfix, a New York-based on-demand trucking service, has raised $22 million in Series B funding. NEA led the round
  • 7/29 – Reltio, a Redwood Shores, Calif.-based data management platform-as-a-service company, has raised $22 million in Series B funding. NEA led the round
  • 7/26 – Acalvio Technologies, a developer of “deception-based” cybersecurity solutions, has raised $17 million in combined Series A and Series B funding. Accel led the Series A round (from last September) and Ignition Partners led the more recent Series B
  • 7/26 – SafeBreach, a Sunnyvale, Calif.-based provider of continuous security validation solutions, has raised $15 million in Series A funding. Deutsche Telekom Capital Partners, Hewlett Packard Pathfinder and Maverick Ventures were joined by return backers Sequoia Capital and Shlomo Kramer.
  • 7/25 – Kandou Bus SA, a Swiss developer of high-speed serial links, has raised $15 million from Bessemer Venture Partners
  • 7/26 – Sun Basket, a San Francisco-based organic meal kit provider, has raised $15 million in Series B funding. Accolade Partners led the round
  • 7/28 – Good Eggs, a San Francisco-based online organic grocery, has raised $15 million in new VC funding led by Index Ventures
  • 7/26 – B12, a New York-based developer of human-assisted A.I. to build and design websites, has raised $12.4 million in Series A funding. General Catalyst led the round.
  • 7/27 – FogHorn Systems, a Mountain View, Calif.-based developer of “edge intelligence” software for industrial and commercial IoT applications, has raised $12 million in Series A funding. March Capital and GE Ventures co-led the round
  • 7/28 – Peek, a San Francisco-based startup that lets people book tours and activities, has raised $10 million in new VC funding from individual investors. Backers include Trulia founder Pete Flint, TPG co-CEO David Bonderman, former Kleiner Perkins partner Ray Lane and Gigi Pritzker
  • 7/29 – BP3 Global, an Austin, Texas-based provider of business process and decision management software and services, has raised $10 million in growth equity funding from Petra Capital Partners
  • 7/29 – LeadGenius, a Berkley, Calif.-based account-based marketing platform, has raised $10 million in Series B funding. Lumia Capital led the round.
  • 7/27 – Zeek, an Israel-based operator of an online marketplace for buying and selling unwanted store giftcards, has raised $9.5 million in Series B funding. Scale-Up Capital led the round
  • 7/27 – Mezi, a San Francisco-based chatbot shopping app, has raised $9 million in Series A funding. Nexus Venture Partners was joined by Saama Capital and American Express Ventures
  • 7/28 – Scout RFP, a San Francisco-based provider of cloud-based scouting solutions, has raised $9 million in Series A funding led by NEA
  • 7/29 – Cloudvirga, an Irvine, Calif.-based developer of a cloud software platform for streamlining the mortgage process, has raised $7.5 million in Series A funding. Dallas Capital led the round
  • 7/27 – Codeship, a Boston-based provider of hosted continuous integration solutions for software build and test automation, has raised $7 million in Series A funding led by Ascent Venture Partners
  • 7/27 – Prospera, a Tel Aviv-based machine learning startup focused on agricultural solutions, has raised $7 million in Series A funding led by Bessemer Venture Partners
  • 7/26 – Automile, a Sweden-based provider of IoT solution for fleet management, has raised $6.2 million in new VC funding. SaaStr Fund led the round
  • 7/27 – Influential, a Beverly Hills, Calif.-based influencer marketing platform, has raised $5 million in Series A funding led by Australia’s Capital Zed
  • 7/26 – Nomad Health, an online marketplace connecting doctors with freelance clinical work, has raised $4 million in Series A funding. First Round Capital and RRE Ventures co-led the round
  • 7/28 – Poq, a London-based app commerce startup, has raised $4 million in Series A funding. Beringea led the round
  • 7/29 – Roomi, a New York-based roommate finder app, has raised $4 million in seed funding led by DCM
  • 7/29 – Cronycle, a UK-based collaborative research platform, has raised $2.6 million in Series A funding from Andurance Ventures
  • 7/25 – Black Bear Energy, a Boulder, Colo.-based startup that provides services to commercial renewable energy buyers, has raised $2.5 million in Series A funding. Boulder Ventures led the round
  • 7/27 – Reflect, a Portland, Ore.-based data visualization platform for developers, has raised $2.5 million in seed funding. DFJ led the round
  • 7/27 – Bolstra, a Carmel, Ind.-based B2B SaaS company focused on customer success management, has raised $1.5 million in new VC funding from Elevate Ventures and individual angels
  • 7/27 – DataTribe, a Fulton, Md.-based startup studio focused on technologies forged by US. government R&D projects, has signed a strategic partnership with Silicon Valley venture firm Allegis Capital
  • 7/27 – Firmex, a Canadian provider of virtual data rooms and platform for secure document sharing, has raised an undisclosed amount of equity funding from Novacap
  • 7/29 – Mozio, a San Francisco-based ground transportation app for travelers, has raised an undisclosed amount of strategic funding from JetBlue Technology Ventures

Random, long reads
Confessor. Feminist. Adult. What the Hell Happened to Howard Stern? (NYT) – David Segal from the NYT goes in depth to analyze the evolution of Howard Stern since he went over to SiriusXM radio.  The original “shock jock” with a fiercely loyal fan-base, has evolved into an expert interviewer that gets celebrities to truly open up about real personal issues.

Gucci Mane, Buff, Sober, Out of the Pen and Ready to Flow (NYT) – Gucci Mane has always been one of the most influential hip hop artists – the man that discovered Young Thug and Future was finally released from jail in May and after three years locked up, the Gucci that came out was a very different person than the one that went in. Gucci came out sober, thin, articulate and healthy.  With his new album out this past week, NYT investigates the life today of Gucci Mane.

How’s Amanda? (Washington Post) – A heartbreaking account of a mother and daughter dealing with the daughter’s years of drug abuse.

*Battery portfolio company. For a list of all Battery portfolio companies, please click here.