Posted on

Snowflake latest enterprise company to feel Wall Street’s wrath after good quarter

Snowflake reported earnings this week, and the results look strong with revenue more than doubling year-over-year.
However, while the company’s fourth quarter revenue rose 117% to $190.5 million, it apparently wasn’t good enough for investors, who have sent the company’s stock tumbling since it reported Wednesday after the bell.
It was similar to the reaction that Salesforce received from Wall Street last week after it announced a positive earnings report. Snowflake’s stock closed down around 4% today, a recovery compared to its midday lows when it was off nearly 12%.
Why the declines? Wall Street’s reaction to earnings can …

Read More

Posted on

How Pariti is connecting founders with capital, resources and talent in emerging markets

According to Startup Genome, Beijing, London, Silicon Valley, Stockholm, Tel Aviv are some of the world’s best startup ecosystems. The data and research organisation uses factors like performance, capital, market reach, connectedness, talent, and knowledge to produce its rankings.
Startup ecosystems from emerging markets excluding China and India didn’t make the organisations’ top 40 list last year. It is a known fact that these regions lag well behind in all six factors, and decades might pass before they catch up to the standards of the aforementioned ecosystems.
However, Pariti, a Kenyan B2B management startup founded by Yacob Berhane …

Read More

Posted on

Making sense of the $6.5B Okta-Auth0 deal

When Okta announced that it was acquiring Auth0 yesterday for $6.5 billion, the deal raised eyebrows. After all, it’s a substantial amount of money for one identity and access management (IAM) company to pay to buy another, similar entity. But the deal ultimately brings together two companies that come at identity from different sides of the market — and as such could be the beginning of a beautiful identity friendship.

The deal ultimately brings together two companies that come at identity from different sides of the market — and as such could be the beginning of a beautiful identity friendship.

On a …

Read More

Posted on

Airbyte raises $5.2M for its open-source data integration platform

Airbyte, an open-source data integration platform, today announced that it has raised a $5.2 million seed funding round led by Accel. Other investors include Y Combinator, 8VC, Segment co-founder Calvin French-Owen, former Cloudera GM Charles Zedlewski, LiveRamp and Safegraph CEO Auren Hoffman, Datavant CEO Travis May and Alain Rossmann, the president of Machinify.
The company was co-founded by Michel Tricot, the former director of engineering and head of integrations at LiverRamp and RideOS, and John Lafleur, a serial entrepreneur who focuses on developer tools and B2B services. The last startup he co-founded was Anaxi.
Image Credits: Airbyte
In its early …

Read More

Posted on

Martech company Zeta Global raises $222.5M in debt

Zeta Global, the marketing technology company founded by David A. Steinberg and former Apple CEO John Sculley, is announcing an additional $222.5 million in new debt financing.
The company has gone down the debt route before — a Series F raised in 2017 combined $115 million funding with $25 million in debt. BofA Securities served as lead arranger and bookrunner for the new financing, with participation from Barclays, Credit Suisse and Morgan Stanley Senior Funding.
“For this round, we were able to both refinance our debt and add in a large amount of capacity for current operations and future initiatives,” Steinberg (Zeta’s CEO) told …

Read More

Posted on

Google updates Workspace

Google Workspace, the company’s productivity platform you’ll forever refer to as G Suite (or even ‘Google Docs’), is launching a large update today that touches everything from your calendar to Google Meet and how you can use Workspace with the Google Assistant.
Image Credits: Google
Indeed, the highlight here is probably that you can now use the Assistant in combination with Google Workspace, allowing you to check your work calendar or send a message to your colleagues. Until now, this feature was available in beta and ever after it goes live, your company’s admins will have to …

Read More

Posted on

Storm Ventures promotes Pascale Diaine and Frederik Groce to partners

Storm Ventures, a venture firm that focuses on early stage B2B enterprise startups, announced this week that it has promoted Pascale Diaine and Frederik Groce to partners at the firm.
The two new partners have worked their way up over the last several years. Groce joined Storm in 2016 and has invested in enterprise SaaS startups like Workato, Splashtop, NextRequest and Camino. Diaine joined a year later and has invested in firms like Sendoso, German Bionic, InEvent and Talkdesk.
Groce, who is also a founder at BLCK VC and helped organize the Black Venture Institute to create a network of …

Read More

Posted on

Salesforce delivers, Wall Street doubts as stock falls 6.3% post-earnings

Wall Street investors can be fickle beasts. Take Salesforce as an example. The CRM giant announced a $5.82 billion quarter when it reported earnings yesterday. Revenue was up 20% year over year. The company also reported $21.25 billion in total revenue for the just-closed FY2021, up 24% YoY. If that wasn’t enough, it raised its FY2022 guidance (its upcoming fiscal year) to over $25 billion. What’s not to like?
You want higher quarterly revenue, Salesforce gave you higher revenue. You want high growth and solid projected revenue — check and check. In fact, it’s hard to find anything to complain about in the …

Read More

Posted on

Google Cloud puts its Kubernetes Engine on autopilot

Google Cloud today announced a new operating mode for its Kubernetes Engine (GKE) that turns over the management of much of the day-to-day operations of a container cluster to Google’s own engineers and automated tools. With Autopilot, as the new mode is called, Google manages all of the Day 2 operations of managing these clusters and their nodes, all while implementing best practices for operating and securing them.
This new mode augments the existing GKE experience, which already managed most of the infrastructure of standing up a cluster. This ‘standard’ experience, as Google Cloud now calls it, is still available …

Read More