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style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%;object-fit:cover;object-position:center" class="rounded-lg"/></noscript></span></div></a><a href="https://www.businessinsider.in/enterprise" class="absolute bottom-2 left-2 bg-white bg-opacity-75 text-biblack font-normal text-xs py-1 px-2 rounded-full flex hover:bg-gray-100 text-biblack items-center topstory_category" title="Enterprise"><svg xmlns="http://www.w3.org/2000/svg" fill="none" class="w-4 mr-1" viewBox="0 0 24 24"><g clip-path="url(#clip0_124_2199)"><rect height="24" width="24"></rect><path stroke-linejoin="round" stroke-linecap="round" stroke-miterlimit="10" stroke="#111111" d="M15 7H19V11"></path><path stroke-linejoin="round" stroke-linecap="round" stroke-miterlimit="10" stroke="#111111" d="M5 11L8 9L13 12.5L19 7"></path><path stroke-linejoin="round" stroke-linecap="round" stroke-miterlimit="10" stroke="#111111" d="M1 3H23V17H1V3Z"></path><path stroke-linejoin="round" stroke-linecap="round" stroke-miterlimit="10" stroke="#111111" d="M12 3V1"></path><path stroke-linejoin="round" stroke-linecap="round" stroke-miterlimit="10" stroke="#111111" d="M7 17L5 23"></path><path stroke-linejoin="round" stroke-linecap="round" stroke-miterlimit="10" stroke="#111111" d="M17 17L19 23"></path></g><defs><clipPath id="clip0_124_2199"><rect fill="white" height="24" width="24"></rect></clipPath></defs></svg>Enterprise</a><span class="absolute bottom-2 right-2 bg-white bg-opacity-75 text-biblack font-normal text-xs py-1 px-2 rounded-full flex"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 32 32" class="w-4 mr-1"><defs class="jsx-5530ea59f1e0bde0"></defs><title></title><g data-name="Layer 11" id="Layer_11"><path class="cls-1" d="M16,5A11,11,0,1,0,27,16,11,11,0,0,0,16,5Zm0,20a9,9,0,1,1,9-9A9,9,0,0,1,16,25Z"></path><polygon class="cls-1" points="15 15 9.33 15 9.33 17 17 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Wednesday' and 'Special 26', is all set to come up with a new web series titled 'The Freelancer'.</p></a></div></div><div class="flex justify-between items-center mt-3 lg:mb-0 mb-2"><div><div class="flex flex-row justify-start items-center"><div class="flex items-center"><span class="mr-1"><svg xmlns="http://www.w3.org/2000/svg" width="6" height="6" viewBox="0 0 6 6" fill="none"><rect width="6" height="6" rx="3" fill="#8CA8AC"></rect></svg></span><span class="text-[#6D787A] text-[12px]"></span></div></div></div><div><div class="flex flex-row justify-end"><button aria-label="topstoryShareBtn" id="topstoryshareBtn" type="button"><svg xmlns="http://www.w3.org/2000/svg" width="16" height="16" viewBox="0 0 12 13" fill="none"><path d="M0.237549 11.3116C0.237549 11.6222 0.489389 11.8741 0.800049 11.8741C1.11071 11.8741 1.36255 11.6222 1.36255 11.3116H0.237549ZM1.36255 11.3116V6.33379H0.237549V11.3116H1.36255ZM3.28894 4.4074H7.64449V3.2824H3.28894V4.4074ZM1.36255 6.33379C1.36255 5.26987 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/_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-93363823%2Cwidth-640%2Cresizemode-4%2Cimgsize-224295%2Fstreaming-company-soundcloud-lays-off-20-of-its-workforce.jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-93363823%2Cwidth-640%2Cresizemode-4%2Cimgsize-224295%2Fstreaming-company-soundcloud-lays-off-20-of-its-workforce.jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-93363823%2Cwidth-640%2Cresizemode-4%2Cimgsize-224295%2Fstreaming-company-soundcloud-lays-off-20-of-its-workforce.jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-93363823%2Cwidth-640%2Cresizemode-4%2Cimgsize-224295%2Fstreaming-company-soundcloud-lays-off-20-of-its-workforce.jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-93363823%2Cwidth-640%2Cresizemode-4%2Cimgsize-224295%2Fstreaming-company-soundcloud-lays-off-20-of-its-workforce.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-93363823%2Cwidth-640%2Cresizemode-4%2Cimgsize-224295%2Fstreaming-company-soundcloud-lays-off-20-of-its-workforce.jpg&w=3840&q=75" decoding="async" data-nimg="fill" class="object-cover object-top rounded-lg transition duration-500 group-hover:rounded-xl" style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div></a></div><div><a title="Streaming company SoundCloud lays off 20% of its workforce" rel="noopener" href="https://www.businessinsider.in/enterprise/news/streaming-company-soundcloud-lays-off-20-of-its-workforce/articleshow/93363823.cms" target="_self" class="listing_title"><h3 class="md:text-xl text-base font-bold text-black mb-3">Streaming company SoundCloud lays off 20% of its workforce</h3></a><div class="md:text-base text-sm font-normal text-[#6D787A] mb-2">Streaming platform SoundCloud has announced to cut 20 per cent of its workforce "given the challeng…</div></div></div><div class="flex justify-between items-center mt-3"><div><div class="flex flex-row justify-start items-center"><div class="flex items-center"><span class="mx-1"><svg xmlns="http://www.w3.org/2000/svg" width="6" height="6" viewBox="0 0 6 6" fill="none"><rect width="6" height="6" rx="3" fill="#8CA8AC"></rect></svg></span><span class="text-[#6D787A] text-[12px]"></span></div></div></div><div><div class="flex flex-row justify-end"><button aria-label="articleshowShareBtn" type="button"><svg xmlns="http://www.w3.org/2000/svg" width="16" height="16" viewBox="0 0 12 13" fill="none"><path d="M0.237549 11.3116C0.237549 11.6222 0.489389 11.8741 0.800049 11.8741C1.11071 11.8741 1.36255 11.6222 1.36255 11.3116H0.237549ZM1.36255 11.3116V6.33379H0.237549V11.3116H1.36255ZM3.28894 4.4074H7.64449V3.2824H3.28894V4.4074ZM1.36255 6.33379C1.36255 5.26987 2.22502 4.4074 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group-hover:rounded-xl" style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div></a></div><div><a title="Ashok Leyland logs Rs 68 cr net in Q1" rel="noopener" href="https://www.businessinsider.in/enterprise/news/ashok-leyland-logs-rs-68-cr-net-in-q1/articleshow/93212251.cms" target="_self" class="listing_title"><h3 class="md:text-xl text-base font-bold text-black mb-3">Ashok Leyland logs Rs 68 cr net in Q1</h3></a><div class="md:text-base text-sm font-normal text-[#6D787A] mb-2">Commercial vehicle major Ashok Leyland Ltd closed the first quarter of FY23 with an after tax profi…</div></div></div><div class="flex justify-between items-center mt-3"><div><div class="flex flex-row justify-start items-center"><div class="flex items-center"><span class="mx-1"><svg xmlns="http://www.w3.org/2000/svg" width="6" height="6" viewBox="0 0 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srcSet="/_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-93211002%2Cwidth-640%2Cresizemode-4%2Cimgsize-50650%2Fola-likely-to-lay-off-nearly-1k-employees-to-ramp-up-ev-plans.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-93211002%2Cwidth-640%2Cresizemode-4%2Cimgsize-50650%2Fola-likely-to-lay-off-nearly-1k-employees-to-ramp-up-ev-plans.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-93211002%2Cwidth-640%2Cresizemode-4%2Cimgsize-50650%2Fola-likely-to-lay-off-nearly-1k-employees-to-ramp-up-ev-plans.jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-93211002%2Cwidth-640%2Cresizemode-4%2Cimgsize-50650%2Fola-likely-to-lay-off-nearly-1k-employees-to-ramp-up-ev-plans.jpg&w=1080&q=75 1080w, 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src="/_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-93211002%2Cwidth-640%2Cresizemode-4%2Cimgsize-50650%2Fola-likely-to-lay-off-nearly-1k-employees-to-ramp-up-ev-plans.jpg&w=3840&q=75" decoding="async" data-nimg="fill" class="object-cover object-top rounded-lg transition duration-500 group-hover:rounded-xl" style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div></a></div><div><a title="Ola likely to lay off nearly 1K employees to ramp up EV plans" rel="noopener" href="https://www.businessinsider.in/enterprise/news/ola-likely-to-lay-off-nearly-1k-employees-to-ramp-up-ev-plans/articleshow/93211002.cms" target="_self" class="listing_title"><h3 class="md:text-xl text-base font-bold text-black mb-3">Ola likely to lay off nearly 1K employees to ramp up EV plans</h3></a><div class="md:text-base text-sm font-normal text-[#6D787A] mb-2">As Bhavish Aggarwal-owned Ola is aiming to ramp up its electric vehicle business, the ride-hailing …</div></div></div><div class="flex justify-between items-center mt-3"><div><div class="flex flex-row justify-start items-center"><div class="flex items-center"><span class="mx-1"><svg xmlns="http://www.w3.org/2000/svg" width="6" height="6" viewBox="0 0 6 6" fill="none"><rect width="6" height="6" rx="3" fill="#8CA8AC"></rect></svg></span><span class="text-[#6D787A] text-[12px]"></span></div></div></div><div><div class="flex flex-row justify-end"><button aria-label="articleshowShareBtn" type="button"><svg xmlns="http://www.w3.org/2000/svg" width="16" height="16" viewBox="0 0 12 13" fill="none"><path d="M0.237549 11.3116C0.237549 11.6222 0.489389 11.8741 0.800049 11.8741C1.11071 11.8741 1.36255 11.6222 1.36255 11.3116H0.237549ZM1.36255 11.3116V6.33379H0.237549V11.3116H1.36255ZM3.28894 4.4074H7.64449V3.2824H3.28894V4.4074ZM1.36255 6.33379C1.36255 5.26987 2.22502 4.4074 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target="_self" class="listing_title"><h3 class="md:text-xl text-base font-bold text-black mb-3">Google pauses hiring for 2 weeks to review its 'headcount needs'</h3></a><div class="md:text-base text-sm font-normal text-[#6D787A] mb-2">Google has put a freeze on hiring for two weeks to review its headcount needs and decide on future …</div></div></div><div class="flex justify-between items-center mt-3"><div><div class="flex flex-row justify-start items-center"><div class="flex items-center"><span class="mx-1"><svg xmlns="http://www.w3.org/2000/svg" width="6" height="6" viewBox="0 0 6 6" fill="none"><rect width="6" height="6" rx="3" fill="#8CA8AC"></rect></svg></span><span class="text-[#6D787A] text-[12px]"></span></div></div></div><div><div class="flex flex-row justify-end"><button aria-label="articleshowShareBtn" type="button"><svg xmlns="http://www.w3.org/2000/svg" width="16" height="16" viewBox="0 0 12 13" fill="none"><path d="M0.237549 11.3116C0.237549 11.6222 0.489389 11.8741 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style="box-sizing:border-box;display:block;overflow:hidden;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;position:absolute;top:0;left:0;bottom:0;right:0"><img alt="Business Insider Latest Story Image" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-85786657%2Cwidth-640%2Cresizemode-4%2Cimgsize-502970%2Fsaas-company-icertis-is-looking-to-hit-the-public-market-next-year.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-85786657%2Cwidth-640%2Cresizemode-4%2Cimgsize-502970%2Fsaas-company-icertis-is-looking-to-hit-the-public-market-next-year.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-85786657%2Cwidth-640%2Cresizemode-4%2Cimgsize-502970%2Fsaas-company-icertis-is-looking-to-hit-the-public-market-next-year.jpg&w=828&q=75 828w, 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/_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-85786657%2Cwidth-640%2Cresizemode-4%2Cimgsize-502970%2Fsaas-company-icertis-is-looking-to-hit-the-public-market-next-year.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-85786657%2Cwidth-640%2Cresizemode-4%2Cimgsize-502970%2Fsaas-company-icertis-is-looking-to-hit-the-public-market-next-year.jpg&w=3840&q=75" decoding="async" data-nimg="fill" class="object-cover object-top rounded-lg transition duration-500 group-hover:rounded-xl" style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div></a></div><div><a title="After Freshworks, Icertis is looking for an IPO for next year in the US" rel="noopener" href="https://www.businessinsider.in/enterprise/enterprise-software/news/saas-company-icertis-is-looking-to-hit-the-public-market-next-year/articleshow/85786657.cms" target="_self" class="listing_title"><h3 class="md:text-xl text-base font-bold text-black mb-3">After Freshworks, Icertis is looking for an IPO for next year in the US</h3></a><div class="md:text-base text-sm font-normal text-[#6D787A] mb-2">Icertis is planning to go for an initial public offering (IPO) in the United States by next year</div></div></div><div class="flex justify-between items-center mt-3"><div><div class="flex flex-row justify-start items-center"><div class="flex"><a href="https://www.businessinsider.in/author_articles_all.cms?query=479255227&author=kritti bhalla=&page=1" class="artishow_author"><h3 class="font-bold md:text-[0.875rem] text-xs text-blue-600">Kritti Bhalla </h3></a></div><div class="flex items-center"><span class="mx-1"><svg xmlns="http://www.w3.org/2000/svg" width="6" height="6" viewBox="0 0 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src="/_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-85707900%2Cwidth-640%2Cresizemode-4%2Cimgsize-502171%2Ffreshworks-files-for-an-ipo-in-the-us-looks-to-raise-100-million.jpg&w=3840&q=75" decoding="async" data-nimg="fill" class="object-cover object-top rounded-lg transition duration-500 group-hover:rounded-xl" style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div></a></div><div><a title="Freshworks files for an IPO in the US, looks to raise $100 million" rel="noopener" href="https://www.businessinsider.in/enterprise/enterprise-software/news/freshworks-files-for-an-ipo-in-the-us-looks-to-raise-100-million/articleshow/85707900.cms" target="_self" class="listing_title"><h3 class="md:text-xl text-base font-bold text-black mb-3">Freshworks files for an IPO in the US, looks to raise $100 million</h3></a><div class="md:text-base text-sm font-normal text-[#6D787A] mb-2">Girish Mathrubootham-led software-as-a-service (SaaS) company Freshworks has filed for an initial p…</div></div></div><div class="flex justify-between items-center mt-3"><div><div class="flex flex-row justify-start items-center"><div class="flex"><a href="https://www.businessinsider.in/author_articles_all.cms?query=479255227&author=kritti bhalla=&page=1" class="artishow_author"><h3 class="font-bold md:text-[0.875rem] text-xs text-blue-600">Kritti Bhalla </h3></a></div><div class="flex items-center"><span class="mx-1"><svg xmlns="http://www.w3.org/2000/svg" width="6" height="6" viewBox="0 0 6 6" fill="none"><rect width="6" height="6" rx="3" fill="#8CA8AC"></rect></svg></span><span class="text-[#6D787A] text-[12px]"></span></div></div></div><div><div class="flex flex-row justify-end"><button aria-label="articleshowShareBtn" type="button"><svg xmlns="http://www.w3.org/2000/svg" width="16" height="16" viewBox="0 0 12 13" 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Propechy are old friends — they have been working together s…</div></div></div><div class="flex justify-between items-center mt-3"><div><div class="flex flex-row justify-start items-center"><div class="flex"><a href="https://www.businessinsider.in/author_articles_all.cms?query=479251521&author=prabhjote gill=&page=1" class="artishow_author"><h3 class="font-bold md:text-[0.875rem] text-xs text-blue-600">Prabhjote Gill </h3></a></div><div class="flex items-center"><span class="mx-1"><svg xmlns="http://www.w3.org/2000/svg" width="6" height="6" viewBox="0 0 6 6" fill="none"><rect width="6" height="6" rx="3" fill="#8CA8AC"></rect></svg></span><span class="text-[#6D787A] text-[12px]"></span></div></div></div><div><div class="flex flex-row justify-end"><button aria-label="articleshowShareBtn" type="button"><svg xmlns="http://www.w3.org/2000/svg" width="16" height="16" viewBox="0 0 12 13" fill="none"><path d="M0.237549 11.3116C0.237549 11.6222 0.489389 11.8741 0.800049 11.8741C1.11071 11.8741 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bets on Spinnaker, a Netflix-started software project that could be the next big thing in cloud computing" rel="noopener" href="https://www.businessinsider.in/heres-why-investors-are-starting-to-make-big-bets-on-spinnaker-a-netflix-started-software-project-that-could-be-the-next-big-thing-in-cloud-computing/articleshow/71283820.cms" target="_self" class="listing_title"><h3 class="md:text-xl text-base font-bold text-black mb-3">Here's why investors are starting to make big bets on Spinnaker, a Netflix-started software project that could be the next big thing in cloud computing</h3></a><div class="md:text-base text-sm font-normal text-[#6D787A] mb-2">Other startups working on Spinnaker tools include Palo Alto's OpsMx, which has more than 50 employe…</div></div></div><div class="flex justify-between items-center mt-3"><div><div class="flex flex-row justify-start items-center"><div class="flex"><h3 class="font-bold md:text-[0.875rem] text-xs text-blue-600 pb-0">Tom Krazit </h3></div><div 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style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div></a></div><div><a title="See the pitch deck that data analytics startup Fivetran used to convince Andreessen Horowitz to lead its $44 million Series B and join its board" rel="noopener" href="https://www.businessinsider.in/see-the-pitch-deck-that-data-analytics-startup-fivetran-used-to-convince-andreessen-horowitz-to-lead-its-44-million-series-b-and-join-its-board/articleshow/71278954.cms" target="_self" class="listing_title"><h3 class="md:text-xl text-base font-bold text-black mb-3">See the pitch deck that data analytics startup Fivetran used to convince Andreessen Horowitz to lead its $44 million Series B and join its board</h3></a><div class="md:text-base text-sm font-normal text-[#6D787A] mb-2">Case in point: Fivetran, another data analytics startup that centralizes companies' data in a singl…</div></div></div><div class="flex justify-between items-center mt-3"><div><div class="flex flex-row justify-start items-center"><div class="flex"><h3 class="font-bold md:text-[0.875rem] text-xs text-blue-600 pb-0">Megan Hernbroth </h3></div><div class="flex items-center"><span class="mx-1"><svg xmlns="http://www.w3.org/2000/svg" width="6" height="6" viewBox="0 0 6 6" fill="none"><rect width="6" height="6" rx="3" fill="#8CA8AC"></rect></svg></span><span class="text-[#6D787A] text-[12px]"></span></div></div></div><div><div class="flex flex-row justify-end"><button aria-label="articleshowShareBtn" type="button"><svg xmlns="http://www.w3.org/2000/svg" width="16" height="16" viewBox="0 0 12 13" fill="none"><path d="M0.237549 11.3116C0.237549 11.6222 0.489389 11.8741 0.800049 11.8741C1.11071 11.8741 1.36255 11.6222 1.36255 11.3116H0.237549ZM1.36255 11.3116V6.33379H0.237549V11.3116H1.36255ZM3.28894 4.4074H7.64449V3.2824H3.28894V4.4074ZM1.36255 6.33379C1.36255 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href="https://www.businessinsider.in/firing-adam-neumann-wont-solve-weworks-biggest-problem-the-underlying-business-stinks/articleshow/71267892.cms" target="_self" class="listing_title"><h3 class="md:text-xl text-base font-bold text-black mb-3">Firing Adam Neumann won't solve WeWork's biggest problem: The underlying business stinks</h3></a><div class="md:text-base text-sm font-normal text-[#6D787A] mb-2">Forcing Neumann out could be a positive step. 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Neeraj Pandey serves as the creator and showrunner of the series. Bhav Dhulia is directing it.\u003cbr /\u003e\u003cbr /\u003eExcited about it, Neeraj Pandey in a statement said, \"The Freelancer is a high-scale thriller series that unfolds an extraordinary rescue operation of a young girl held against her will in a war-torn Syria. It's based on Shirish Thorat's book 'A Ticket To Syria', which narrates the true story of Aliya. The series is driven by a powerhouse ensemble cast with Mohit Raina essaying the role of the Freelancer, Anupam Kher as the analyst Dr Khan, Kashmira Pardesi as Aliya and other actors portraying unique characters. The series has been shot across multiple locations internationally and recreates a world that's largely unexplored and unseen. Bhav Dhulia and the entire Friday Storytellers team have worked immensely hard putting this together, and I hope the audiences love it.\"\u003cbr /\u003e\u003cbr /\u003e 'The Freelancer' will stream on Disney+ Hotstar soon.\u003cbr /\u003e\u003cbr /\u003ePrior to 'The Freelancer', Neeraj Pandey delivered intriguing projects such as 'Special OPS' and 'Khakee: The Bihar Chapter' on other OTT platforms. (ANNI)\u003cbr /\u003e\u003cbr /\u003e","synopsis":"\u003cp\u003eFilmmaker Neeraj Pandey, best known for his outstanding thrillers such as 'A Wednesday' and 'Special 26', is all set to come up with a new web series titled 'The Freelancer'.\u003c/p\u003e","updatedTime":1691401776379,"insertedTime":1691401673000,"img_Path":"/thumb/msid-102499823,width-640,resizemode-4,imgsize-13428/anupam-kher-mohit-raina-star-in-neeraj-pandeys-new-series-the-freelancer.jpg","url":"enterprise/news/anupam-kher-mohit-raina-star-in-neeraj-pandeys-new-series-the-freelancer/articleshow/102499823.cms","slug":"enterprise/news/anupam-kher-mohit-raina-star-in-neeraj-pandeys-new-series-the-freelancer","category":"Enterprise","article_type":"indian"},{"title":"Microsoft, Redington present Simplifying Transformation, an event on enterprises’ digital journeys","msid":94548137,"readingTime":2,"authorDetail":[{"author_name":"Insider Studios","author_id":479255260}],"body":"Cloud services have become the cornerstone of growth for small and large businesses in India and around the world over the past two years. Digital transformation, which was once optional or only spoken of in compartments, is now a boardroom issue for most companies. But they can’t do it alone.\u003cbr /\u003e\u003cbr /\u003eAs organisations move critical processes and important data to the cloud, they’ll need help from the primary cloud providers around the world. Business Insider India, with Redington and Microsoft are hosting the ‘Simplifying Transformation’ event at ITC Windsor, Bengaluru, on September 30, 2022 at 7 pm. \u003cbr /\u003e\u003cbr /\u003eWhile Microsoft is a leader in the cloud solutions space, Redington has provided IT solutions to Indian enterprises for more than two decades. Microsoft offers cloud solutions for most of the biggest businesses in the world today, and the company’s Azure cloud platform is the key to some of the most popular services, both consumer and enterprise, globally.\u003cbr /\u003e\u003cbr /\u003eRedington Limited is a leading IT technology solutions provider across Information Technology, Mobility, Telecom, Cloud, Lifestyle and Solar verticals. It has footprint across 38 markets including 60 subsidiary offices. With over 290+ brand associations and 39,500+ channel partners, it is transforming the distribution and supply chain ecosystem through synergy between innovation and technology adoption.\u003cbr /\u003e\u003cbr /\u003eTogether, the two firms bring decades of experiences in digital transformation journeys, business processes, and where digital transformation post covid fits in their future journeys. Today we are at the cusp of quick adoption of technologies and as a leading country in innovation we need to strengthen our adoption process by reducing Technology Friction and working in tandem with government for a proper policy framework to propel this.\u003cbr /\u003e\u003cbr /\u003eInvitees will have an opportunity to engage with thought leaders from Microsoft and IT technology solutions provider, Redington, for an initiation to Microsoft solutions that can help transform enterprises’ growth trajectories and productivity business processes, using intelligent cloud offerings and personal computing solutions.\u003cbr /\u003e\u003cbr /\u003eMithun Kumar, Group Business Manager, Cloud Solutions, at Redington Limited will deliver the keynote, explaining how enterprises can adopt the right technologies for their digital transformation journey. Kumar will also be present at a panel discussion on digital transformation and business growth, along with Sanjeet Sen, Adithya Mangal, and Shabir Sheik from Microsoft.\u003cbr /\u003e\u003cbr /\u003eTogether, the panellists will highlight Microsoft products, and engage with the audience on subjects related to digital transformation.\u003cbr /\u003e\u003cbr /\u003eThe event seeks to educate enterprises and business leaders in India on how Microsoft’s cloud products can help them build new business solutions, innovate on current processes, and streamline their move to the cloud. Attendants will also hear about the possibilities and success stories of digital transformation, along with the key features of success.\u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eDate: \u003c/strong\u003eSeptember 30th, 2022\u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eTime:\u003c/strong\u003e 7:00 PM onwards\u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eLocation:\u003c/strong\u003e ITC Windsor, 25 Golf Course Road, Bengaluru\u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eRegister to participate:\u003c/strong\u003e \u003ca href=\"https://www.businessinsider.in/webinars/microsoftltgtbi-event/webinar/94391252.cms\"\u003ehttps://www.businessinsider.in/webinars/microsoftltgtbi-event/webinar/94391252.cms\u003c/a\u003e\u003cbr /\u003e","synopsis":"","updatedTime":1664520254732,"insertedTime":1664508811000,"img_Path":"/thumb/msid-94548137,width-640,resizemode-4,imgsize-20856/microsoft-redington-present-simplifying-transformation-an-event-on-enterprises-digital-journeys.jpg","url":"enterprise/news/microsoft-redington-present-simplifying-transformation-an-event-on-enterprises-digital-journeys/articleshow/94548137.cms","slug":"enterprise/news/microsoft-redington-present-simplifying-transformation-an-event-on-enterprises-digital-journeys","category":"Enterprise","article_type":"indian"},{"title":"Saving costs, managing manpower, enhancing guest experience: The various ways technology is helping the hospitality industry","msid":94340133,"readingTime":4,"authorDetail":[{"author_name":"BI India Tech Bureau","author_id":479252956}],"body":"\u003cul\u003e\u003cli\u003e\u003cstrong\u003eTechnology solutions like in-work systems enable hotel guests to use more self-service alternatives, significantly reducing staff responsibilities while enhancing customer satisfaction.\u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eLeveraging tech tools has helped hotels direct employees towards urgent and high-priority activities that require personalised engagement and support.\u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eFew hoteliers will forget 2020 in a hurry. With hotels forced shut, almost 40% employees lost their jobs while an equivalent number suffered salary cuts and furloughs, according to consulting firm HVS Anarock.\u003c/strong\u003e\u003c/li\u003e\u003c/ul\u003eFaced with a manpower glut, stringent social distancing norms, evolved guest expectations and massive drop in occupancy, hotel companies turned to technology to overcome these challenges. \u003cbr /\u003e\u003cbr /\u003eSamir MC, managing director of Fortune Park Hotels, a member of ITC Hotels Group, recalled how solutions like in-work systems, which enabled guests to use more self-service alternatives, significantly reduced staff responsibilities and enhanced customer satisfaction.\u003cbr /\u003e\u003cbr /\u003e\"Mobile check-in and self-ordering technology in restaurants make it simpler to check into hotels without requiring one-on-one interaction from hotel staff. Moreover, frequent or foreseeable activities can be handled automatically, through the use of technology,\" he added.\u003cbr /\u003e\u003ccmsannotation type=\"cmsannotation\" annotationid=\"Flagging off the digital journey\" comment=\"subhead\" text=\"Flagging off the digital journey\"\u003e\u003cspan data-til=\"noop\"\u003eFlagging off the digital journey\u003c/span\u003e\u003c/cmsannotation\u003e\u003cbr /\u003eBesides digitalizing most of its communication and offerings to drive business, ITC Hotels undertook steps like QR code-enabled communication in rooms, digital menus and contactless payment options as it adapted to the new normal. \u003cbr /\u003e\u003cbr /\u003eIn fact, QR codes for all collaterals, digital menus in restaurants, digital invoices, WhatsApp bot for guest interaction, and even a press reader for newspapers became par for the course. Hotel Manager Prashant Chadha recalled how The Westin Mumbai Powai Lake’s operations continue to remain tech-driven from the perspective of guest navigation, housekeeping and F\u0026amp;B services. \u003cbr /\u003e\u003cbr /\u003e\"Our keyless check-ins and QR codes at restaurants ensured the need for lesser staffing. However, going completely remote and tech-driven is not the objective; rather the focus is being tech-savvy in our operations while considerate of our guests’ needs,\" he added.\u003cbr /\u003e\u003ccmsannotation type=\"cmsannotation\" annotationid=\"Customers sound the tech call\" comment=\"subhead\" text=\"Customers sound the tech call\"\u003e\u003cspan data-til=\"noop\"\u003eCustomers sound the tech call\u003c/span\u003e\u003c/cmsannotation\u003e\u003cbr /\u003eStressing on creating a ‘digital advantage’ during the company's 2021 earnings call, IHG Hotels \u0026amp; Resorts' CEO Keith Barr said, \"This is vital to enabling a seamless technology experience across the guest journey, from driving direct bookings and creating integrated digital experiences for our guests to delivering revenue-enhancing solutions for our owners.\"\u003cbr /\u003e\u003cbr /\u003eIn 2021, the company partnered with Josh.ai to pilot a voice-controlled smart room at California’s Kimpton Rowan hotel. \u003cbr /\u003e\u003cbr /\u003eSince occupancies were in single digits in early 2021, hotel companies concentrated on the events business, which had switched to the hybrid model. IHG partnered with WeFrame for its ‘Meet with Confidence’ global programme, while Hyatt collaborated with Swapcard platform to debut ‘Together By Hyatt’ in April 2021. \u003cbr /\u003e\u003cbr /\u003eRaoof Dhanani, managing director at Sayaji Hotels, explains that most hotels also started using Artificial Intelligence (AI)-driven chatbots with inbuilt booking engines to increase direct bookings and capture guest data at the same time. \"It also sends automated emails, location, availability, quote and property images and videos to the guests as per their requirement,\" he noted.\u003cbr /\u003e\u003cbr /\u003eHaving tasted the fruits of technology, Marriott International went a step further and launched the Marriott Design Lab at its Bethesda headquarters this January. Rather than work in isolation to accelerate the development and deployment of new technologies, it collaborated with companies like Carrier and LG to optimise HVAC efficiency in modular hotel designs, adding more vendors to this list.\u003cbr /\u003e\u003ccmsannotation type=\"cmsannotation\" annotationid=\"Out with the old\" comment=\"subhead\" text=\"Out with the old\"\u003e\u003cspan data-til=\"noop\"\u003eOut with the old\u003c/span\u003e\u003c/cmsannotation\u003e\u003cbr /\u003eAfter a long journey, contemporary hotel guests often want to grab a shower and a meal rather than engage with hotel staff. A Skift study titled 'Hospitality in 2025: Automated, Intelligent and More Personal' found that 73% travellers want to use their mobile device to manage their hotel experience, including checking in and out, paying, ordering food, and more.\u003cbr /\u003e\u003cbr /\u003eAware that fulfilling these needs, or at least meeting it halfway, is key to winning guest attention and thereby their loyalty, hoteliers are increasingly mindful of their tech investments. A first mover, Marriott, for instance, rolled out IoT services as early as 2018, signing up to Amazon's Alexa for Hospitality room assistant technology to allow voice control functionality to be installed in guestrooms.\u003cbr /\u003e\u003cbr /\u003eIntegrating IoT technology gives guests the power to customise their room settings, including lighting, temperature and curtains. Moreover, since employees can remotely monitor the performance of in-room devices, it means lesser staff on the floor. Additionally, hotels can conserve energy costs by turning off heating or air conditioning when the room is unoccupied.\u003cbr /\u003e\u003ccmsannotation type=\"cmsannotation\" annotationid=\"An eye on the cost\" comment=\"subhead\" text=\"An eye on the cost\"\u003e\u003cspan data-til=\"noop\"\u003eAn eye on the cost\u003c/span\u003e\u003c/cmsannotation\u003e\u003cbr /\u003eBy leveraging technology, hotels can direct a lean workforce towards urgent and priority tasks that require personalised engagement and support, thus easing their workload. Moreover, it can simplify their HR procedures, reduce expenses and also boost revenue generation by cross-selling services. Imagine visiting the hotel's spa and getting a discount on a healthy breakfast the next day! \u003cbr /\u003e\u003cbr /\u003eChadha believes that the more efficient the processes, the less time is wasted, which reduces costs and increases productivity and revenue.\u003cbr /\u003e\u003cbr /\u003e\"As compared to 2019, our operating costs have gone down, with a significant rise in efficiency. This has happened by streamlining tasks and improving our overall quality and reliability,\" he states. \u003cbr /\u003e\u003cbr /\u003eHowever, these tech deployments come with a caveat – don’t lose the human touch. Rohit Pandey, Hotel Manager of Leela Bhartiya City Bengaluru notes that while technology and automation help bring better efficiency, the service industry cannot operate without the human touch or interaction and personalisation. \u003cbr /\u003e\u003cbr /\u003e\"Whilst designing the standard operating procedures for the hotel and planning on technology; we smartly adapt systems to smoothen guest journeys. All human touch points remain intact or are enhanced with technology’s adaptation,\" he emphasised.\u003cbr /\u003e\u003cbr /\u003eThe hospitality industry traditionally underinvested in technology, spending less than 5% of their net room revenue. \u003cbr /\u003e\u003cbr /\u003eHowever, digitalisation is now on every hotelier's mind. Using it mindfully will help them create a frictionless guest experience and bring down operating costs while navigating the labour shortage, making it a win-win situation for all. \u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eSEE ALSO:\u003cbr /\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/stock-market/news/tata-investment-corporation-stock-almost-doubled-investors-money-in-just-six-months/articleshow/94336887.cms\"\u003eThis Tata group stock doubled investors money in just six months\u003c/a\u003e\u003cbr /\u003e\u003c/strong\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/stock-market/news/snack-maker-annapurna-swadishts-sme-ipo-is-subscribed-by-190-times/articleshow/94332255.cms\"\u003e\u003cstrong\u003eSnack maker Annapurna Swadisht’s SME IPO is subscribed by 190 times\u003c/strong\u003e\u003c/a\u003e","synopsis":"Technology solutions like in-work systems enable hotel guests to use more self-service alternatives, significantly reducing staff responsibilities while enhancing customer satisfaction.Leveraging tech tools has helped hotels direct employees towards urgent and high-priority activities that require personalised engagement and support.Few hoteliers will forget 2020 in a hurry. With hotels forced shut, almost 40% employees lost their jobs while an equivalent number suffered salary cuts and furloughs, according to consulting firm HVS Anarock.","updatedTime":1663730762909,"insertedTime":1663730760000,"img_Path":"/thumb/msid-94340133,width-640,resizemode-4,imgsize-67542/saving-costs-managing-manpower-enhancing-guest-experience-the-various-ways-technology-is-helping-the-hospitality-industry.jpg","url":"enterprise/news/saving-costs-managing-manpower-enhancing-guest-experience-the-various-ways-technology-is-helping-the-hospitality-industry/articleshow/94340133.cms","slug":"enterprise/news/saving-costs-managing-manpower-enhancing-guest-experience-the-various-ways-technology-is-helping-the-hospitality-industry","category":"Enterprise","article_type":"indian"},{"title":"Milliseconds matter in a digital-first world, says Salesforce as it launches real-time data platform","msid":94330258,"readingTime":2,"authorDetail":[{"author_name":"Eetika Kapoor","author_id":479258167}],"body":"\u003cul\u003e\u003cli\u003e\u003cstrong\u003eSalesforce launched Genie, an upgraded data platform that can provide better digital experience for businesses running online.\u003cbr /\u003e\u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eCompanies like Ford, L’Oreal, Formula 1®, and PGA TOUR Superstore are using Salesforce Genie.\u003cbr /\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ul\u003e\u003cul\u003e\u003cli\u003e\u003cstrong\u003eSlack, acquired by Salesforce, launched Slack Canvas and upgrades in Slack Huddles. \u003cbr /\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ul\u003eSalesforce Customer 360, a global leader in customer relationship management (CRM) today unveiled the Genie, an upgraded data platform that aims to provide better digital experiences for businesses running online. \u003cbr /\u003e\u003cbr /\u003eThe platform, Salesforce says, can provide real-time data that powers its Customer 360 platform.\u003cbr /\u003e\u003cbr /\u003e\"Every business leader wants to take advantage of real-time data to create compelling, personalized customer experiences — milliseconds matter in this new digital-first world,\" David Schmaier, president and chief product officer, Salesforce said. \u003cbr /\u003e\u003cbr /\u003eCustomer 360 provides a complete view of a customer's data which includes a website inquiry or even product purchase and customer support ticket. The new Salesforce Genie helps businesses streamline their vast data stores and provide better customer experience. \u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eHow can Genie help businesses?\u003c/strong\u003e \u003cbr /\u003e\u003cbr /\u003eA sales representative no longer relies only on in-person communication to close a large deal. Reps need real-time insights about every customer, based on real-time and historical data, to act on the most relevant information in the moment, every time. \u003cbr /\u003e\u003cbr /\u003eToday, 71% of customers expect every interaction with a business to be personalized, says Salesforce. \u003cbr /\u003e\u003cbr /\u003e\"That's why we built Genie, our most significant innovation ever on the Salesforce Platform. Genie makes every part of Customer 360 more automated, intelligent and real-time,” said Schmaier. \u003cbr /\u003e\u003cbr /\u003eThe amount of data created, captured and consumed each year is expected to more than double by 2026. Salesforce claims that its new platform can ease the processing of large data sets. \u003cbr /\u003e\u003cbr /\u003eThe platform is already being used by Ford, L’Oreal, Formula 1®, PGA TOUR Superstore, Amazon SageMaker, Snowflake and Google to name a few. \u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eSlack enhances working in a digital headquarter post-pandemic\u003c/strong\u003e\u003cbr /\u003e\u003cbr /\u003eSlack was acquired by Salesforce last September last year. Globally, Slack is being used by multiple businesses to run their office online. Through Genie, Slack also announced enhancement of their digital headquarters, offering various innovations. \u003cbr /\u003e\u003cbr /\u003e“We are focused on helping our customers navigate the future of work, whether that’s hybrid, remote or in the office,” said Tamar Yehoshua, chief product officer, Slack. \u003cbr /\u003e\u003cbr /\u003e“We’ve been introducing capabilities like Slack Connect, Clips, Huddles and now Canvas, that bring more value to our customers and enhance working in a digital HQ,” she added. \u003cbr /\u003e\u003cbr /\u003eSlack Huddles will now feature lightweight video, multi-person screen sharing and better communication via message threads allowing you to monitor your colleague’s work in real-time. \u003cbr /\u003e\u003cbr /\u003eA new addition to Slack called Canvas, will be launched in 2023, enabling teams across the globe to ‘work together’ on a Slack Canvas. This would include sharing texts, files, audio for colleagues to see. \u003cbr /\u003e\u003cbr /\u003eSEE ALSO: \u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/tech/mobile/news/samsung-to-offer-up-to-60-off-on-galaxy-s20-fe-5g-galaxy-m53-and-more-during-amazons-upcoming-sale/articleshow/94303882.cms\"\u003eSamsung to offer up to 60% off on Galaxy S20 FE 5G, Galaxy M53, and more during Amazon’s upcoming sale\u003c/a\u003e\u003cbr /\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/tech/news/best-offers-on-smartphones-and-laptops-on-the-amazon-great-indian-festival-sale/articleshow/94302092.cms\"\u003eBest offers on smartphones, laptops, and more on the Amazon Great Indian Festival Kickstarter deals\u003c/a\u003e\u003cbr /\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/tech/news/realme-gt-neo-3t-review-power-packed-mid-ranger/articleshow/94299230.cms\"\u003eRealme GT Neo 3T review: Power-packed mid-ranger\u003c/a\u003e","synopsis":"Milliseconds matter in a digital-first world, says Salesforce as it launches real-time data platform","updatedTime":1663677366783,"insertedTime":1663677365000,"img_Path":"/thumb/msid-94330258,width-640,resizemode-4,imgsize-588386/milliseconds-matter-in-a-digital-first-world-says-salesforce-as-it-launches-real-time-data-platform.jpg","url":"enterprise/news/milliseconds-matter-in-a-digital-first-world-says-salesforce-as-it-launches-real-time-data-platform/articleshow/94330258.cms","slug":"enterprise/news/milliseconds-matter-in-a-digital-first-world-says-salesforce-as-it-launches-real-time-data-platform","category":"Enterprise","article_type":"indian"},{"title":"Streaming company SoundCloud lays off 20% of its workforce","msid":93363823,"readingTime":1,"authorDetail":[],"body":"Streaming platform SoundCloud has announced to cut 20 per cent of its workforce \"given the challenging economic climate and financial market headwinds\".\u003cbr /\u003e\u003cbr /\u003eSoundCloud CEO Michael Weissman wrote in an email that affected employees would be notified over the next several days, reports Billboard.\u003cbr /\u003e\u003cbr /\u003e\"We will be making reductions to our global team that will impact up to 20 per cent of our company,\" Weissman said in the email.\u003cbr /\u003e\u003cbr /\u003e\"Making changes that affect people is incredibly hard. But it is one that is necessary given the challenging economic climate and financial market headwinds,\" he added.\u003cbr /\u003e\u003cbr /\u003eThe change positions SoundCloud for the long run and \"puts us on a path to sustained profitability\", Weissman said.\u003cbr /\u003e\u003cbr /\u003eIn 2017, SoundCloud fired about 40 per cent of its workforce for the company's \"long-term, independent success\".\u003cbr /\u003e\u003cbr /\u003eThis time, the company said that it has \"begun to make prudent financial decisions across the company and that now extends to a reduction to our team\".\u003cbr /\u003e\u003cbr /\u003e\"We are focused on providing the support and resources to those transitioning while reinforcing our commitment to executing our mission to lead what's next in music.\"\u003cbr /\u003e\u003cbr /\u003eSoundCloud announced its first profitable quarter in 2020.\u003cbr /\u003e\u003cbr /\u003eEarlier this year, the company said its annual revenue run rate was around $300 million.\u003cbr /\u003e\u003cbr /\u003eOther music and content streaming platforms like Spotify and Netflix have also announced job cuts.\u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eSEE ALSO :\u003cbr /\u003e\u003cbr /\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/india/news/tn-reservoirs-almost-full-as-heavy-rains-lash-the-state-relief-camps-opened/articleshow/93362839.cms\"\u003eTN reservoirs almost full as heavy rains lash the state; relief camps opened\u003c/a\u003e\u003cbr /\u003e\u003cbr /\u003e\u003c/strong\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/tech/news/check-out-best-deals-on-smart-led-tvs-in-amazon-festival-sale-2022/articleshow/93363340.cms\"\u003e\u003cstrong\u003eAmazon Great Freedom Festival Sale 2022: Check out early deals on smart TVs\u003c/strong\u003e\u003c/a\u003e\u003cbr /\u003e","synopsis":"Streaming platform SoundCloud has announced to cut 20 per cent of its workforce \"given the challenging economic climate and financial market headwinds\".","updatedTime":1659679277588,"insertedTime":1659679223000,"img_Path":"/thumb/msid-93363823,width-640,resizemode-4,imgsize-224295/streaming-company-soundcloud-lays-off-20-of-its-workforce.jpg","url":"enterprise/news/streaming-company-soundcloud-lays-off-20-of-its-workforce/articleshow/93363823.cms","slug":"enterprise/news/streaming-company-soundcloud-lays-off-20-of-its-workforce","category":"Enterprise","article_type":"indian"},{"title":"Ashok Leyland logs Rs 68 cr net in Q1","msid":93212251,"readingTime":1,"authorDetail":[],"body":"Commercial vehicle major Ashok Leyland Ltd closed the first quarter of FY23 with an after tax profit of Rs 68 crore.\u003cbr /\u003e\u003cbr /\u003eAccording to the company, it had posted a revenue of Rs 7,223 crore for the quarter ended 30.6.2022 (Q1FY22 Rs 2,951 crore) and a net profit of Rs 68 crore (net loss Rs 282 crore).\u003cbr /\u003e\u003cbr /\u003e\"The industry has seen strong volume growth in Q1 FY'23, and we expect this trend to continue going forward. The team is focused on market performance while reining in costs this quarter,\" Dheeraj Hinduja, Executive Chairman said.\u003cbr /\u003e\u003cbr /\u003e\"With expansion in revenues and efficient cost management we have seen our bottom line improving. The softening of commodity prices, in particular for steel, should impact our margins positively, said Gopal Mahadevan, Director \u0026amp; CFO.\u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eSEE ALSO :\u003cbr /\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/tech/enterprise/news/the-way-forward-for-indias-emerging-data-centre-market/articleshow/93212366.cms\"\u003eThe way forward for India’s emerging data centre market\u003c/a\u003e\u003cbr /\u003e\u003cbr /\u003e\u003c/strong\u003e\u003ca target=\"_blank\" class=\"c-link\" href=\"https://www.businessinsider.in/business/news/top-10-most-chosen-fmcg-brands-of-india-as-per-kantar-report/slidelist/93206746.cms\"\u003e\u003cstrong\u003eParle, Amul and Britannia are the most chosen FMCG brands of India in 2021: Kantar report\u003c/strong\u003e\u003c/a\u003e","synopsis":"Commercial vehicle major Ashok Leyland Ltd closed the first quarter of FY23 with an after tax profit of Rs 68 crore.","updatedTime":1659096016329,"insertedTime":1659096014000,"img_Path":"/thumb/msid-93212251,width-640,resizemode-4,imgsize-36472/ashok-leyland-logs-rs-68-cr-net-in-q1.jpg","url":"enterprise/news/ashok-leyland-logs-rs-68-cr-net-in-q1/articleshow/93212251.cms","slug":"enterprise/news/ashok-leyland-logs-rs-68-cr-net-in-q1","category":"Enterprise","article_type":"indian"},{"title":"Ola likely to lay off nearly 1K employees to ramp up EV plans","msid":93211002,"readingTime":1,"authorDetail":[],"body":"As Bhavish Aggarwal-owned Ola is aiming to ramp up its electric vehicle business, the ride-hailing platform is now planning to lay off around 1,000 employees.\u003cbr /\u003e\u003cbr /\u003eMedia reports say that verticals like mobility, hyperlocal, fintech, and its used car operations have all been included in the process.\u003cbr /\u003e\u003cbr /\u003eRecently, a report said that Ola is laying off up to 500 employees across departments as it aimed to cut costs amid a challenging funding environment and a delay in listing plans.\u003cbr /\u003e\u003cbr /\u003eSenior executives at the SoftBank-backed company were reportedly tasked with identifying team members who can be asked to leave based on performance.\u003cbr /\u003e\u003cbr /\u003eThe company aims at \"leaner and consolidated teams\" to keep its \"strong profitability intact\".\u003cbr /\u003e\u003cbr /\u003eThe company had shut down its used vehicle business Ola Cars, as well as its quick-commerce business, Ola Dash, recently.\u003cbr /\u003e\u003cbr /\u003eIt was shut down within one year of its launch, as the company shifted focus on its electric two-wheeler and car verticals.\u003cbr /\u003e\u003cbr /\u003eOla is also facing flak over faulty batteries and fire incidents in its electric vehicles among other EV players like Okinawa Autotech, Pure EV, among others.\u003cbr /\u003e\u003cbr /\u003eSeveral incidences of electric two-wheelers catching fire have recently occurred around the country, prompting companies to recall their vehicles.\u003cbr /\u003e\u003cbr /\u003eThe company entered the EV space with a bang last year. Its electric scooters saw 1 lakh reservations in just 24 hours of opening of pre-launch bookings. However, cracks began to show up as delays in deliveries and missing features became synonymous with the brand.\u003cbr /\u003e\u003cstrong\u003e\u003cbr /\u003eSEE ALSO :\u003cbr /\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/science/health/news/rectal-pain-penile-swelling-more-common-in-current-monkeypox-outbreak/articleshow/93208619.cms\"\u003eRectal pain, penile swelling more common in current monkeypox outbreak\u003c/a\u003e\u003cbr /\u003e\u003cbr /\u003e\u003c/strong\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/tech/news/battlegrounds-mobile-india-delisted-from-google-play-store-and-apple-app-store-in-india/articleshow/93195450.cms\"\u003e\u003cstrong\u003eBGMI delisted from Play Store and App Store after government order citing data sharing and mining in China: Report\u003c/strong\u003e\u003c/a\u003e\u003cbr /\u003e","synopsis":"As Bhavish Aggarwal-owned Ola is aiming to ramp up its electric vehicle business, the ride-hailing platform is now planning to lay off around 1,000 employees.","updatedTime":1659093566204,"insertedTime":1659093565000,"img_Path":"/thumb/msid-93211002,width-640,resizemode-4,imgsize-50650/ola-likely-to-lay-off-nearly-1k-employees-to-ramp-up-ev-plans.jpg","url":"enterprise/news/ola-likely-to-lay-off-nearly-1k-employees-to-ramp-up-ev-plans/articleshow/93211002.cms","slug":"enterprise/news/ola-likely-to-lay-off-nearly-1k-employees-to-ramp-up-ev-plans","category":"Enterprise","article_type":"indian"},{"title":"Amazon stock up 14% despite 2nd consecutive quarterly loss","msid":93203607,"readingTime":1,"authorDetail":[],"body":"E-commerce giant Amazon reported a quarterly net loss of $2 billion, its second consecutive loss in a quarter, but strong revenues and continued growth from Amazon Web Services (AWS) saw its stock soaring 14 per cent in after-hours trading.\u003cbr /\u003e\u003cbr /\u003eNet sales increased 7 per cent to $121.2 billion in the second quarter (Q2), compared with $113.1 billion in the second quarter last year.\u003cbr /\u003e\u003cbr /\u003eNet loss was $2 billion in the second quarter, compared with net income of $7.8 billion in the same period last year.\u003cbr /\u003e\u003cbr /\u003eThe net loss in the second quarter (Q2) included a loss of $3.9 billion in non-operating expenses from Amazon's investment in Rivian Automotive, the company said in a statement late on Thursday.\u003cbr /\u003e\u003cbr /\u003eAWS reported operating income of $5.72 billion on revenue of $19.74 billion, up from operating profit of $4.19 billion on revenue of $14.81 billion a year ago.\u003cbr /\u003e\u003cbr /\u003e\"Despite continued inflationary pressures in fuel, energy, and transportation costs, we're making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network,\" said Andy Jassy, Amazon CEO.\u003cbr /\u003e\u003cbr /\u003eAmazon reported an operating loss of $2.4 billion in its e-commerce business on net revenues of $101.5 billion.\u003cbr /\u003e\u003cbr /\u003e\"We're also seeing revenue accelerate as we continue to make Prime even better for members, both investing in faster shipping speeds, and adding unique benefits,\" he added.\u003cbr /\u003e\u003cbr /\u003eAmazon shares jumped 14 per cent in after-hours trading. The stock had fallen 16 per cent in the past three months.\u003cbr /\u003e\u003cbr /\u003e\"AWS continues to grow at a fast pace and we believe we are still in the early stages of enterprise and public-sector adoption of the cloud,\" Chief Financial Officer Brian Olsavsky told analysts during a conference call.\u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eSEE ALSO:\u003cbr /\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/tech/enterprise/news/how-automation-is-making-it-service-desks-more-efficient/articleshow/93203071.cms\"\u003eHow automation is making IT service desks more efficient\u003c/a\u003e\u003cbr /\u003e\u003cbr /\u003e\u003c/strong\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/tech/enterprise/news/twitter-delete-millions-of-spam-accounts-a-day-to-control-trolls/articleshow/93203353.cms\"\u003e\u003cstrong\u003eWe delete millions of spam accounts a day to control trolls, says Twitter\u003c/strong\u003e\u003c/a\u003e\u003cbr /\u003e","synopsis":"E-commerce giant Amazon reported a quarterly net loss of $2 billion, its second consecutive loss in a quarter, but strong revenues and continued growth from Amazon Web Services (AWS) saw its stock soaring 14 per cent in after-hours trading.","updatedTime":1659074653804,"insertedTime":1659074652000,"img_Path":"/thumb/msid-93203607,width-640,resizemode-4,imgsize-18182/amazon-stock-up-14-despite-2nd-consecutive-quarterly-loss.jpg","url":"enterprise/news/amazon-stock-up-14-despite-2nd-consecutive-quarterly-loss/articleshow/93203607.cms","slug":"enterprise/news/amazon-stock-up-14-despite-2nd-consecutive-quarterly-loss","category":"Enterprise","article_type":"indian"},{"title":"Google pauses hiring for 2 weeks to review its 'headcount needs'","msid":93019358,"readingTime":2,"authorDetail":[],"body":"Google has put a freeze on hiring for two weeks to review its headcount needs and decide on future course of action. The company last week announced to slow down hirings for the rest of the year.\u003cbr /\u003e\u003cbr /\u003eAccording to The Information, Prabhakar Raghavan who is Google's senior vice president has sent an email to employees about the decision to stop hiring for two weeks.\u003cbr /\u003e\u003cbr /\u003e\"We'll use this time to review our headcount needs and align on a new set of prioritised Staffing Requests for the next three months,\" Raghavan wrote.\u003cbr /\u003e\u003cbr /\u003eThe hiring pause \"would not impact offers that had already been extended to applicants.\"\u003cbr /\u003e\u003cbr /\u003eHowever, Google will not make any new offers until the hiring pause is over, the report said late on Wednesday.\u003cbr /\u003e\u003cbr /\u003eEarlier, Alphabet and Google CEO Sundar Pichai told employees that the company will be slowing down the pace of hiring for the rest of the year, as global macro-economic conditions continue to hit industries across the spectrum.\u003cbr /\u003e\u003cbr /\u003eAccording to an internal memo sent by Alphabet and Google CEO Pichai to employees, the company will have to \"be more entrepreneurial\" and work with \"greater urgency, sharper focus, and more hunger than we've shown on sunnier days\".\u003cbr /\u003e\u003cbr /\u003e\"In some cases, that means consolidating where investments overlap and streamlining processes. In other cases, that means pausing development and re-deploying resources to higher priority areas,\" Pichai noted.\u003cbr /\u003e\u003cbr /\u003eHowever, the Google CEO said that the company will still hire for \"engineering, technical and other critical roles.\"\u003cbr /\u003e\u003cbr /\u003ePichai said that the uncertain global economic outlook has been top of mind.\u003cbr /\u003e\u003cbr /\u003e\"Like all companies, we're not immune to economic headwinds. Something I cherish about our culture is that we've never viewed these types of challenges as obstacles. Instead, we've seen them as opportunities to deepen our focus and invest for the long term,\" said the Indian-origin CEO.\u003cbr /\u003e\u003cbr /\u003eIn the second quarter (Q2) this year, Google hired approximately 10,000 people.\u003cbr /\u003e\u003cbr /\u003e\"Because of the hiring progress achieved so far this year, we'll be slowing the pace of hiring for the rest of the year, while still supporting our most important opportunities,\" said Pichai.\u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eSEE ALSO:\u003cbr /\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/business/news/itc-is-relying-on-its-advisory-maars-app-for-farmers-valued-added-crops-to-grow-its-agri-business/articleshow/93007505.cms\"\u003eITC is relying on its advisory app for farmers, valued-added crops to grow its agri-business\u003c/a\u003e\u003cbr /\u003e\u003cbr /\u003e\u003c/strong\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/tech/news/check-out-top-deals-on-amazon-2022-prime-day-sale/articleshow/93007218.cms\"\u003e\u003cstrong\u003eAmazon Prime Day 2022 – here are the top deals that have been revealed ahead of the sale\u003c/strong\u003e\u003c/a\u003e\u003cbr /\u003e","synopsis":"Google has put a freeze on hiring for two weeks to review its headcount needs and decide on future course of action. The company last week announced to slow down hirings for the rest of the year.","updatedTime":1658379332335,"insertedTime":1658379331000,"img_Path":"/thumb/msid-93019358,width-640,resizemode-4,imgsize-15824/google-pauses-hiring-for-2-weeks-to-review-its-headcount-needs.jpg","url":"enterprise/news/google-pauses-hiring-for-2-weeks-to-review-its-headcount-needs/articleshow/93019358.cms","slug":"enterprise/news/google-pauses-hiring-for-2-weeks-to-review-its-headcount-needs","category":"Enterprise","article_type":"indian"},{"title":"Five ways Big Data Analytics can boost revenues","msid":91954212,"readingTime":3,"authorDetail":[{"author_name":"BI India Bureau","author_id":479235879}],"body":"\u003cul\u003e\u003cli\u003eBig Data Analytics is growing exponentially as businesses use data to improve customer experience, optimize operations and create predictability. \u003c/li\u003e\u003cli\u003eA recent IDC study forecasts that the global BDA spending will grow at a compounded annual growth rate (CAGR) of nearly 13% through 2025.\u003c/li\u003e\u003cli\u003eBDA can be used to generate information that can help in optimization to ensure minimal material wastage, output maximization, productivity enhancement, optimization or establishment of sustainable operational models, and continuous incremental improvement.\u003c/li\u003e\u003c/ul\u003eIn the last two years, Big Data Analytics (BDA) has emerged as a key focus area for business \u0026amp; technology leaders in accelerating digital programs and scaling in the post-pandemic era. \u003cbr /\u003e\u003cbr /\u003eWhile security and compliance issues often come in the way of large-scale adoption, Big Data Analytics has been steadily growing. \u003cbr /\u003e\u003cbr /\u003eA recent IDC study forecasts that the global BDA spending will grow at a compounded annual growth rate (CAGR) of nearly 13% through 2025. With banking and manufacturing being the biggest adopters, the Big Data and Business Analytics market is predicted to touch $260 Billion in 2022. The APAC (Asia-Pacific) region is predicted to be one of the major contributors to this growth. \u003cbr /\u003e\u003cbr /\u003eThe government sector, which is investing heavily in infrastructure management, along with the healthcare sector with growing wellness monitoring capabilities, are adopting BDA at a much faster pace. Banking takes the lead in spending, concentrating on fraud detection and improving customer experience for better customer and brand loyalty.\u003cbr /\u003e\u003cbr /\u003eThe overall need to mitigate supply-chain liabilities, and market disruptions while also ensuring perfect customer experiences has led to a higher investment into BDA, which assures business sustainably.\u003cbr /\u003e\u003cbr /\u003eIf applied strategically, BDA can assure immediate business results and tangible outcomes for enterprises. Here are five areas where big data analytics can make a big difference.\u003cbr /\u003e\u003ccmsannotation type=\"cmsannotation\" annotationid=\"Behavior analytics for improved customer experience\" comment=\"subhead\" text=\"Behavior analytics for improved customer experience\"\u003e\u003cspan data-til=\"noop\"\u003eBehavior analytics for improved customer experience\u003c/span\u003e\u003c/cmsannotation\u003e\u003cbr /\u003eProduct design and delivery must be aligned with the dynamic customer demands.\u003cbr /\u003e\u003cbr /\u003eIn a typical scenario, a consumer would require:\u003cbr /\u003e\u003cbr /\u003e\u003cul\u003e\u003cli\u003eDetails and product inquiry information.\u003c/li\u003e\u003cli\u003eAttention during the time of purchase.\u003c/li\u003e\u003cli\u003eStrong customer service medium to ensure retention and brand loyalty.\u003c/li\u003e\u003c/ul\u003eWith these three areas covered, there would be improved customer retention, satisfaction, and a substantial increase in cross-selling and upselling of products. \u003cbr /\u003e\u003cbr /\u003eBehavior-based analytics tools are a great way to assess customer buying patterns and derive real-time insights from instant feedback. Not only does this simplify understanding the customer experience, but it also provides an insight into what the company should work on and which services can be improved.\u003cbr /\u003e\u003ccmsannotation type=\"cmsannotation\" annotationid=\"Boosting product improvement\" comment=\"subhead\" text=\"Boosting product improvement\"\u003e\u003cspan data-til=\"noop\"\u003eBoosting product improvement\u003c/span\u003e\u003c/cmsannotation\u003e\u003cbr /\u003eBDA can be effectively leveraged in product customization. To make differentiable, competitive offerings, BDA can help to understand the purchase history of the product, the reviews, and also the overall market requirement according to current market trends.\u003cbr /\u003e\u003cbr /\u003eWith this, the product can be upgraded with new features, have an improvement in its functionality, including innovative technology, or even simply change the packaging for easier access.\u003cbr /\u003e\u003ccmsannotation type=\"cmsannotation\" annotationid=\"Enhancing operation optimisation\" comment=\"subhead\" text=\"Enhancing operation optimisation\"\u003e\u003cspan data-til=\"noop\"\u003eEnhancing operation optimisation\u003c/span\u003e\u003c/cmsannotation\u003e\u003cbr /\u003eWith the Internet of Things (IoT) being implemented on multiple devices and instruments, data collection has been simplified for businesses.\u003cbr /\u003e\u003cbr /\u003eBDA can be used to generate information that can help in optimization to ensure minimal material wastage, output maximization, productivity enhancement, optimization or establishment of sustainable operational models, and continuous incremental improvement.\u003cbr /\u003e\u003cbr /\u003eThe results can be seen with increased sales, improved production, reduced monthly costs, decreased execution time, better asset management, and a higher turnover of products.\u003cbr /\u003e\u003ccmsannotation type=\"cmsannotation\" annotationid=\"Facilitate planning and decision-making\" comment=\"subhead\" text=\"Facilitate planning and decision-making\"\u003e\u003cspan data-til=\"noop\"\u003eFacilitate planning and decision-making\u003c/span\u003e\u003c/cmsannotation\u003e\u003cbr /\u003eBDA brings a 360-degree view of business decision-making. The board of directors can use BDA to evaluate the efficiency of the business – from supply chain to consumer services.\u003cbr /\u003e\u003cbr /\u003eBDA can also assist with a SWOT (strengths, weaknesses, opportunities and threats) analysis of the business, along with risk and trend analysis, goal-setting, and any deviations in all areas.\u003cbr /\u003e\u003cbr /\u003eBusiness leaders can also cut down on obsolete tasks, thus improving employee satisfaction and reducing attrition. Informed decision-making becomes easier, along with data-driven solution implementation.\u003cbr /\u003e\u003ccmsannotation type=\"cmsannotation\" annotationid=\"Identify trends to stay competitive\" comment=\"subhead\" text=\"Identify trends to stay competitive\"\u003e\u003cspan data-til=\"noop\"\u003eIdentify trends to stay competitive\u003c/span\u003e\u003c/cmsannotation\u003e\u003cbr /\u003eThe biggest advantage of big data analytics has been pattern recognition. Recurring patterns are a clear indicator of emerging market trends. By identifying and acting on these trends and opportunities, businesses can innovate and allow for new product development, adding to business profits.\u003cbr /\u003e\u003cbr /\u003eMarket trends can also predict upcoming risks, and create a clear path of growth for businesses, while mitigating any unwanted or unnecessary tasks in their operations.\u003cbr /\u003e\u003cbr /\u003eOverall, Big Data Analytics is a powerful tool, with billions being invested into it to ensure sustained and continuous business growth. \u003cbr /\u003e\u003cbr /\u003e\u003cbr /\u003e\u003cbr /\u003e","synopsis":"While security and compliance issues often come in the way of large-scale adoption, Big Data Analytics has been steadily growing. A recent IDC study forecasts that the global BDA spending will grow at a compounded annual growth rate (CAGR) of nearly 13% through 2025.","updatedTime":1654144934790,"insertedTime":1654144933000,"img_Path":"/thumb/msid-91954212,width-640,resizemode-4,imgsize-70896/five-ways-big-data-analytics-can-boost-revenues.jpg","url":"enterprise/news/five-ways-big-data-analytics-can-boost-revenues/articleshow/91954212.cms","slug":"enterprise/news/five-ways-big-data-analytics-can-boost-revenues","category":"Enterprise","article_type":"indian"},{"title":"Snapchat's parent company Snap slows down hiring process amid rising inflation rate, labour disruptions, and Ukraine","msid":91757551,"readingTime":1,"authorDetail":[],"body":"Snap, the parent company of Snapchat, is slowing down on hiring this year, as tech companies' stocks go through rough weathers amid challenging macro-economic environment globally.\u003cbr /\u003e\u003cbr /\u003eSnap CEO Evan Spiegel told employees that the company plans to hire 500 people this year, versus 2,000 it hired over the past 12 months, after warning investors that its revenue wouldn't grow as fast as expected, reports The Verge.\u003cbr /\u003e\u003cbr /\u003e\"We expect to hire more than 500 new team members between now and the end of the year, representing nearly 10 per cent company-wide headcount growth over the next seven months,\" Spiegel was quoted as saying.\u003cbr /\u003e\u003cbr /\u003e\"This is in addition to over 900 offers already accepted this year, up 41 per cent year-over-year, and the roughly 2,000 people added to our team in the trailing 12 months,\" he added.\u003cbr /\u003e\u003cbr /\u003eLike many companies, Snap continues to face rising inflation and interest rates, supply chain shortages and labour disruptions, platform policy changes, the impact of the war in Ukraine, and more.\u003cbr /\u003e\u003cbr /\u003e\"As a result, while our revenue continues to grow year-over-year, it is growing more slowly than we expected at this time,\" said the Snap CEO.\u003cbr /\u003e\u003cbr /\u003e\"We will slow our pace of hiring for unopened roles for the remainder of the year, as well as push some planned hiring into next year.\"\u003cbr /\u003e\u003cbr /\u003eThe company will also evaluate the remainder of its 2022 budgets and leaders have been asked to review spending to find additional cost savings.\u003cbr /\u003e\u003cbr /\u003eThe Big Tech companies have seen big selloffs in the past couple of weeks after the Federal Reserve interest hike and Covid lockdowns in China.\u003cbr /\u003e\u003cbr /\u003eSEE ALSO:\u003cbr /\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-more-money-this-year-than-they-brought-in-between-2009-2021/articleshow/91747269.cms\"\u003eForeign investors have pulled out more money this year than they brought in between 2009-2021\u003c/a\u003e\u003cbr /\u003e\u003ca target=\"_blank\" class=\"c-link c-message_attachment__title_link\" href=\"https://www.businessinsider.in/business/news/vaccine-makers-are-making-over-1000-per-second-and-furiously-holding-on-to-their-monopolies/articleshow/91743852.cms\"\u003eVaccine makers are making over $1,000 per second and furiously holding on to their monopolies\u003c/a\u003e\u003cbr /\u003e","synopsis":"\"We expect to hire more than 500 new team members between now and the end of the year, representing nearly 10 per cent company-wide headcount growth over the next seven months,\" Spiegel was quoted as saying.","updatedTime":1653369054628,"insertedTime":1653368542000,"img_Path":"/thumb/msid-91757551,width-640,resizemode-4,imgsize-13592/snap-slows-down-hiring-process-amid-rising-inflation-rate-labour-disruptions-and-ukraine.jpg","url":"enterprise/news/snap-slows-down-hiring-process-amid-rising-inflation-rate-labour-disruptions-and-ukraine/articleshow/91757551.cms","slug":"enterprise/news/snap-slows-down-hiring-process-amid-rising-inflation-rate-labour-disruptions-and-ukraine","category":"Enterprise","article_type":"indian"},{"title":"After Freshworks, Icertis is looking for an IPO for next year in the US","msid":85786657,"readingTime":2,"authorDetail":[{"author_name":"Kritti Bhalla","author_id":479255227}],"body":"\u003cul\u003e\u003cli\u003eIcertis is exploring options for Nasdaq listing in the US for sometime next year.\u003c/li\u003e\u003cli\u003eThe company aims to double its valuation to $6 billion, as per sources aware of the development.\u003c/li\u003e\u003cli\u003eThe company counts Google, Microsoft, Johnson \u0026amp; Johnson, Infosys, Wipro and Cognizant as its customers. \u003c/li\u003e\u003c/ul\u003eSoftware-as-a-service (SaaS) firm Icertis is holding serious discussions to hit the public markets by the end of 2022. \u003cbr /\u003e\u003cbr /\u003ePune and Seattle-headquartered company — valued at $2.8 billion — is considering to go for an initial public offering (IPO) in the United States sometime next year, Icertis’ cofounder and chief technology officer (CTO) Monish Darda told Business Insider. \u003cbr /\u003e\u003cbr /\u003eThe company counts Google, Microsoft, Daimler, Airbus, Johnson \u0026amp; Johnson, Lupin, Infosys, Wipro and Cognizant as its customers.\u003cbr /\u003e\u003cbr /\u003eA Nasdaq listing is the top priority of the company, which offers contract management solutions to businesses, at the moment. \u003cbr /\u003e\u003cbr /\u003eThough Darda did not share details like the amount the company plans to raise or the valuation it is looking to list at, people aware of the development told Business Insider that Icertis plans to double its valuation to $6 billion by next year with this public issue.\u003cbr /\u003e\u003cbr /\u003eDarda clarified that Icertis is ready to hit the public market in terms of its business growth, however the plan still hinges on two major developments. First, the growth of the business by next year. Second, the economic situation globally. Regardless, the company is open to raising capital through both private as well as public markets depending on the economy and the COVID-19 situation. \u003cbr /\u003e\u003cbr /\u003e \u003cdiv type=\"ExtQuote\" text=\"“If we need a round, with our valuation and our revenue, we always have an option of going public, so we'll evaluate that as well. So there are a couple of things we could do next year in terms of, you know, how we move, we can raise another round and you know, defer going public. Or we could choose the path of going public as well.”\" auname=\"— Monish Darda, co-founder and CTO of Icertis, told Business Insider.\"\u003e\u003c/div\u003e\u003cbr /\u003eLast week, another Indian SaaS company Freshworks\u003ca href=\"https://www.businessinsider.in/enterprise/enterprise-software/news/freshworks-files-for-an-ipo-in-the-us-looks-to-raise-100-million/articleshow/85707900.cms\"\u003e filed \u003c/a\u003efor an IPO in the USA, seeking permission to list on Nasdaq. It is looking to raise $100 million.\u003cbr /\u003e\u003cbr /\u003eFounded in 2009 by Darda and Samir Bodas, Icertis’ flagship product ‘Icertis Contract Intelligence (ICI)’ manages over 10 million contracts with an aggregate value of more than $1 trillion.\u003cbr /\u003e\u003cbr /\u003eIcertis added 70-100 customers in 2020 and 100 customers in the first half of 2021. It plans to add over 100 customers by the end of 2021. \u003cbr /\u003e\u003cbr /\u003e“I think what is interesting is that the last four quarters have been successively the best quarters we've ever seen in Icertis. We have beaten every quarter, every year. So the last two quarters, January-February-March and April-May-June. April-May-June has been the best quarter in the history of Icertis,” Darda added. \u003cbr /\u003e\u003cbr /\u003eIcertis claims to have a revenue between $100 million to $200 million, growing at 60-70% rate annually.\u003cbr /\u003e\u003cbr /\u003eThe 12-year-old company raised\u003ca href=\"https://www.businessinsider.in/tech/enterprise/news/icertis-raises-80-million-in-series-f-funding-and-triples-valuation-in-less-than-two-years/articleshow/81450882.cms\"\u003e $80 million\u003c/a\u003e in March this year to add more customers as well as develop more products for its existing customers. Overall, the company has raised $291 million to date from marquee investors like B Capital, PremjiInvest, Greycroft, Meritech Capital Partners, and PSP Growth.\u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eSEE ALSO\u003cbr /\u003e\u003c/strong\u003e\u003ca href=\"https://www.businessinsider.in/stock-market/news/tata-power-bharat-forge-bharti-airtel-and-other-top-stocks-to-watch-out-for-on-august-31/slidelist/85786005.cms\"\u003eTata Power, Bharat Forge, Bharti Airtel and other top stocks to watch out for on August 31\u003cbr /\u003e\u003c/a\u003e\u003cbr /\u003e\u003ca href=\"https://www.businessinsider.in/stock-market/news/ami-organics-wants-to-become-debt-free-post-the-ipo/articleshow/85781458.cms\"\u003eAmi Organics wants to become debt-free post the IPO, to cut dependence on China in the coming years\u003c/a\u003e\u003cbr /\u003e\u003cbr /\u003e\u003ca href=\"https://www.businessinsider.in/defense/news/a-us-f-22-raptor-pilot-describes-the-challenge-of-going-up-against-f-35-red-air-aggressors/articleshow/85784261.cms\"\u003eA US F-22 Raptor pilot describes the challenge of going up against F-35 red air aggressors\u003c/a\u003e\u003cbr /\u003e","synopsis":"Icertis is planning to go for an initial public offering (IPO) in the United States by next year","updatedTime":1630494173491,"insertedTime":1630380579000,"img_Path":"/thumb/msid-85786657,width-640,resizemode-4,imgsize-502970/saas-company-icertis-is-looking-to-hit-the-public-market-next-year.jpg","url":"enterprise/enterprise-software/news/saas-company-icertis-is-looking-to-hit-the-public-market-next-year/articleshow/85786657.cms","slug":"enterprise/enterprise-software/news/saas-company-icertis-is-looking-to-hit-the-public-market-next-year","category":"Enterprise","article_type":"indian"},{"title":"Freshworks files for an IPO in the US, looks to raise $100 million","msid":85707900,"readingTime":2,"authorDetail":[{"author_name":"Kritti Bhalla","author_id":479255227}],"body":"\u003cul\u003e\u003cli\u003eFreshworks is seeking to list its shares on the Nasdaq Global Select Market under the symbol FRSH.\u003c/li\u003e\u003cli\u003eThe company thanked Indian actor Rajinikanth in its preliminary filings for the IPO.\u003c/li\u003e\u003cli\u003eChennai and California-based reported a revenue of $169 million in the first half of 2021.\u003c/li\u003e\u003c/ul\u003eGirish Mathrubootham-led software-as-a-service (SaaS) company Freshworks has filed for an initial public offering (IPO) in the United States. The company is looking to raise $100 million, the company’s filing with the US Securities and Exchange Commission has revealed. \u003cbr /\u003e\u003cbr /\u003eThe IPO is being led by Morgan Stanley, JP Morgan Chase \u0026amp; Co and Bank of America. Freshworks is seeking to list its shares on the Nasdaq Global Select Market under the symbol FRSH.\u003cbr /\u003e\u003cbr /\u003eFounded by Mathrubootham and Shan Krishnasamy as Freshdesk in 2010, the company started its journey as a helpdesk software for customer support. It decided to rebrand itself to Freshworks in June 2017 to incorporate the company’s growing software suite. \u003cbr /\u003e\u003cbr /\u003eThe company was founded in Chennai but moved to Silicon Valley a couple of years back as most of its customers were present in the US. The company is now based out of San Mateo in California, yet it retains a substantial workforce in Tamil Nadu’s Chennai city. \u003cbr /\u003e\u003cbr /\u003eFreshworks has over 52,500 customers across the globe and it reported a revenue of $169 million in the first half of 2021. Compared to the first half of 2020, the company’s revenue has grown by nearly $60 million. \u003cbr /\u003e\u003cbr /\u003eThe company reported a loss of $9.8 million in the first half of 2021, compared to $59 million reported in the same time period of 2020.\u003cbr /\u003e\u003cbr /\u003eIn the preliminary documents for its IPO, Mathrubootham has compared Freshworks software to Apple’s iPhone. He notes that businesses shouldn’t have to rely on multiple tools to engage with customers.\u003cbr /\u003e\u003cbr /\u003e“Before 2007, we were all using multiple devices — I personally had a Nokia cellphone, a Garmin GPS, a Sandisk MP3 Player and a Canon point-and-shoot camera… As consumers, we were quick to ditch our gadgets for a single product with a superior unified, intuitive, and delightful experience,” he said.\u003cbr /\u003e\u003cbr /\u003eAccording to data platform Crunchbase, Freshworks has raised over $480 million to date across nine funding rounds. The company is backed by Steadview Capital, Accel, CapitalG, Sequoia Capital, Tiger Global Management and others. The company was valued at $3.5 billion in June 2020. \u003cbr /\u003e\u003cbr /\u003eFreshworks thanked Indian actor Rajinikanth in the preliminary filings for its IPO. \u003cbr /\u003e\u003cbr /\u003e“The code name for our IPO was Project SuperStar, named after the most successful movie star from Tamil Nadu, Rajinikanth. I want to express my love and gratitude to him for being my \u003cem\u003emaanaseega \u003c/em\u003eguru. There is no comparable English word to express what this means. It is a mentor; a role model that lives in your mind, from whom you learn a lot by watching from afar. SuperStar is a man who is loved and worshipped by millions of fans globally. He is immensely successful yet humble and down to earth. Thank you, Thalaivaa!,” the filings read.\u003cbr /\u003e\u003cbr /\u003e\u003cstrong\u003eSEE ALSO\u003c/strong\u003e\u003cbr /\u003e\u003ca href=\"https://www.businessinsider.in/tech/mobile/news/the-great-indian-youtube-extortion-101-on-how-criminals-are-making-money-off-youtubers/articleshow/84486999.cms\"\u003eHere is how Indian YouTubers are becoming victims to extortion\u003c/a\u003e\u003cbr /\u003e\u003ca href=\"https://www.businessinsider.in/sports/news/tokyo-paralympic-games-indias-bhavina-patel-enters-table-tennis-final-gold-medal-match-on-sunday/articleshow/85706907.cms\"\u003eTokyo Paralympic Games — India’s Bhavina Patel enters table tennis final, gold medal match on Sunday\u003cbr /\u003e\u003c/a\u003e\u003ca href=\"https://www.businessinsider.in/sports/news/cristiano-ronaldo-will-reportedly-rejoin-manchester-united-in-surprise-twist/articleshow/85691030.cms\"\u003eCristiano Ronaldo rejoins Manchester United in shocking twist as Man City pulls out\u003c/a\u003e","synopsis":"","updatedTime":1630127124809,"insertedTime":1630127123000,"img_Path":"/thumb/msid-85707900,width-640,resizemode-4,imgsize-502171/freshworks-files-for-an-ipo-in-the-us-looks-to-raise-100-million.jpg","url":"enterprise/enterprise-software/news/freshworks-files-for-an-ipo-in-the-us-looks-to-raise-100-million/articleshow/85707900.cms","slug":"enterprise/enterprise-software/news/freshworks-files-for-an-ipo-in-the-us-looks-to-raise-100-million","category":"Enterprise","article_type":"indian"},{"title":"Accenture adds nearly 50 data scientists and engineers to its payroll by acquiring an Indian firm Byte Prophecy","msid":75801246,"readingTime":1,"authorDetail":[{"author_name":"Prabhjote Gill","author_id":479251521}],"body":"\u003cbr /\u003e\u003cbr /\u003e\u003cul\u003e\u003cli\u003eGlobal services giant Accenture acquires Ahmedabad-based Byte Prophecy.\u003cbr /\u003e\u003c/li\u003e\u003cli\u003eThe acquisition will help meet the artificial intelligence (AI) skill gap in the market by putting 50 data scientists and engineers on its payroll.\u003cbr /\u003e\u003c/li\u003e\u003cli\u003eWhile the demand for AI is high, the talent pool is scarce. \u003cbr /\u003e\u003c/li\u003e\u003c/ul\u003e\u003cbr /\u003eAccenture and Ahmedabad-based Byte Propechy are old friends — they have been working together since 2018. Now, 50 of the latter’s data scientists and data engineering experts will be added to Accenture’s 509,000-strong staff, with a particular focus on insight automation.\u003cbr /\u003e\u003cbr /\u003e\u003cbr /\u003eWhile the demand for AI is high, the talent pool is scarce. Deloitte estimates that AI researchers and data scientists are some of the most sought-after professionals. However, their survey also shows that 68% of executives report a ‘moderate-to-extreme skills gap’, which makes acquiring Byte Prophecy all the more integral. \u003cbr /\u003e\u003cbr /\u003e\u003cbr /\u003e“Officially making Byte Prophecy’s people and capabilities part of Accenture is a testament to the shared vision of shared success we’ve seen in our joint efforts,” said Athina Kanioura, Accenture’s chief analytics officer and global lead for Applied Intelligence.\u003cbr /\u003e\u003cbr /\u003e\u003cbr /\u003eThe global IT services giant based out of Ireland has clients that want to foray into enterprise-scale artificial intelligence (AI), and the Ahmedabad-based startup caters to that demand. \u003cbr /\u003e\u003cbr /\u003e\u003cbr /\u003eThe company believes that the move will help them deepen their existing consulting and technology capabilities by providing a boost to data foundations and advanced analytics. \u003cbr /\u003e\u003cbr /\u003e\u003cbr /\u003e“Across industries, decision making has become more complex, and businesses are increasingly relying on advanced analytics and AI to ensure insight-driven, rapid decision making,” said Piyush N. Singh, Accenture’s market unit lead for India and sales lead for Growth Markets.\u003cbr /\u003e\u003cbr /\u003e\u003cbr /\u003eEven though neither company disclosed the financial terms of the acquisition, Gartner estimates that the enterprise AI market will be worth $6.14 billion by 2022. As AI matures, it’s going to become an integral part of how companies form their digital strategies, according to the researcher company.\u003cbr /\u003e\u003cbr /\u003e\u003cbr /\u003e\u003cbr /\u003e","synopsis":"","updatedTime":1589787683359,"insertedTime":1589787683000,"img_Path":"/thumb/msid-75801246,width-640,resizemode-4,imgsize-219084/accenture-adds-nearly-50-data-scientists-and-engineers-to-its-payroll-by-acquiring-byte-propechy-in-india.jpg","url":"enterprise/news/accenture-adds-nearly-50-data-scientists-and-engineers-to-its-payroll-by-acquiring-byte-propechy-in-india/articleshow/75801246.cms","slug":"enterprise/news/accenture-adds-nearly-50-data-scientists-and-engineers-to-its-payroll-by-acquiring-byte-propechy-in-india","category":"Enterprise","article_type":"indian"},{"title":"The CEO of Quinyx went from flipping burgers at McDonald's in Sweden to landing McDonald's as a customer - here's the pitch deck he used to raise $40 million","msid":71351088,"readingTime":2,"authorDetail":[{"author_name":"Benjamin Pimentel","author_id":45}],"body":"\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/p\u003e\u003cul class=\"summary-list\"\u003e\u003cli\u003e\u003cstrong\u003eErik Fjellborg was a teenager flipping burgers at a McDonald's in Sweden when he realized that the fast food restaurant needed better software to manage the workplace.\u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eHe was only 18 when he launched Quinyx, which now has 700 customers and 500,000 users in Europe where it has a strong presence.\u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eThis month, Quinyx launched its US operations, stepping up its bid for a bigger slice of the $18 billion human capital management software market.\u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eHere's the pitch deck Fjellborg used to raise \u003c/strong\u003e\u003cstrong\u003e$40 million from investors that include Battery Ventures, \u003c/strong\u003e\u003cstrong\u003eAlfvén \u0026amp; Didrikson, and Zobito.\u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"https://www.businessinsider.com/prime?module=article\u0026amp;area=summary\"\u003e\u003cstrong\u003eClick here for more BI Prime stories.\u003c/strong\u003e\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eErik Fjellborg was flipping burgers at a McDonald's in Sweden when he saw the hassles a restaurant manager had to deal with managing schedules and shifts.\u003c/p\u003e\u003cp\u003e\"Everytime someone wanted to book a shift or swap a shift, the manager had to go back to the back office with this huge telephone list and started to dial around for replacements, which could take hours,\" he told Business Insider.\u003c/p\u003e\u003cp\u003eFjellborg was then a high school student with a passion for computers, and his McDonald's stint sparked an idea, software to help businesses manage a workplace better.\u003c/p\u003e\u003cp\u003eHe was only 18 when he launched Quinyx in 2005. The startup offers AI-powered cloud software for scheduling, absence management and improving business operations, by analyzing all of its data. Quinyx has now raised $40 million from several venture capital investors, including Battery Ventures, Alfvén \u0026amp; Didrikson, and Zobito.\u003c/p\u003e\u003cp\u003eMcDonald's Swedish subsidiary became one of its first customers, and Quinyx also has been embraced by the burger chain in other Nordic countries, Fjellborg said.\u003c/p\u003e\u003cp\u003e\"McDonald's was a good starting point for the business,\" he said. \"We still have them as a customer today, which is great.\"\u003c/p\u003e\u003cp\u003eQuinyx has not been embraced by McDonald's in the US where it based - but that could soon change, Fjellborg said. Last month, Quinyx, which now has 700 customers and 500,000 users mostly in Europe where it has a strong presence, launched its US operations, opening an office in Boston.\u003c/p\u003e\u003cp\u003e\"We reached a certain scale in Europe, and it was a good time for us to make this move,\" he said.\u003c/p\u003e\u003cp\u003eQuinyx is competing in a growing market. The human capital management market is projected to grow from $16.4 billion to $17.9 billion this year, according to IDC.\u003c/p\u003e\u003cp\u003eGartner's report on the vendors in the space cited Quinyx's focus on businesses in retail, hospitality, transportation, warehousing and health care. Its customers have between 1,000 and 10,000 employees, with its largest customer having more than 40,000.\u003c/p\u003e\u003cp\u003eMoving to the US was a logical next step for the company, Fjellborg said.\u003c/p\u003e\u003cp\u003e\"We are setting up operations to take the market opportunity and grow in the most interesting and largest market in the world, he said. \"We have an ambition to build a global company, so we have to be in the US market.\"\u003c/p\u003e\u003cp\u003e\u003cstrong\u003eHere's the pitch deck Quinyx used to raise $40 million:\u003c/strong\u003e\u003c/p\u003e","synopsis":"","updatedTime":1569674700000,"insertedTime":1569674700000,"img_Path":"/thumb/msid-71351088,width-640,resizemode-4,imgsize-56181/the-ceo-of-quinyx-went-from-flipping-burgers-at-mcdonalds-in-sweden-to-landing-mcdonalds-as-a-customer-heres-the-pitch-deck-he-used-to-raise-40-million.jpg","url":"the-ceo-of-quinyx-went-from-flipping-burgers-at-mcdonalds-in-sweden-to-landing-mcdonalds-as-a-customer-heres-the-pitch-deck-he-used-to-raise-40-million/articleshow/71351088.cms","slug":"enterprise/the-ceo-of-quinyx-went-from-flipping-burgers-at-mcdonalds-in-sweden-to-landing-mcdonalds-as-a-customer-heres-the-pitch-deck-he-used-to-raise-40-million","category":"Enterprise","article_type":"indian"},{"title":"Here's why one of Wall Street's most well known internet analysts says Google Maps is set to add billions to Alphabet's topline","msid":71350555,"readingTime":6,"authorDetail":[{"author_name":"Nick Bastone","author_id":45}],"body":"\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/p\u003e\u003cul class=\"summary-list\"\u003e\u003cli\u003eOne of the top internet analysts on Wall Street has dropped a pin on \u003ca href=\"https://www.businessinsider.com/category/google-maps\"\u003eGoogle Maps\u003c/a\u003e - one of the company's most widely used properties - as the next big money-maker. \u003c/li\u003e\u003cli\u003eRBC's Mark Mahaney estimated that continued iterations of Google Mpas will bring in an additional $1.9 billion to $3.6 billion in revenue by 2021.\u003c/li\u003e\u003cli\u003eSpecifically, Mahaney believes that an increased ad load on the Maps mobile app, while allowing small to medium-sized businesses to advertise on the platform could be minor changes that lead to major financial upside for Google. \u003c/li\u003e\u003cli\u003e\u003cstrong\u003e\u003ca href=\"https://www.businessinsider.com/prime?module=article\u0026amp;area=summary\"\u003eClick here for more BI Prime stories\u003c/a\u003e.\u003c/strong\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eFor years, Wall Street has been trying to figure out which part of Alphabet's business - beyond Google Search ads - will emerge as its next big money maker.\u003c/p\u003e\u003cp\u003eThere's the cloud computing division, gaining momentum, but still a distant third behind market leaders Microsoft and Amazon. And there's the Waymo self-driving car initiative, developing a robotaxi service that could change the way people travel.\u003c/p\u003e\u003cp\u003eBut according to a recent note by RBC Capital analyst Mark Mahaney, the Alphabet asset with the most potential to become a revenue machine is Google Maps, the digital mapping product that has already become an essential part of more than one billion people's lives around the world. \u003c/p\u003e\u003cp\u003eCalling Maps one of the \"greatest under/un-monetized\" online platforms in the world, Mahaney recently flagged the app as his basis for boosting his price target for Alphabet's stock, projecting that Maps will deliver an additional $1.9 billion to $3.6 billion in revenue by 2021.\u003c/p\u003e\u003cp\u003eAlthough Google does not share its specific revenues from Maps today, Mahaney estimated that the navigation product - first released more than 14 years ago - would generate over $3.5 billion in revenue in 2019. The \u003ca href=\"https://www.statista.com/statistics/507742/alphabet-annual-global-revenue/\"\u003etotal revenue\u003c/a\u003e for Google's parent company, Alphabet, was over $130 billion in 2018. \u003c/p\u003e\u003cp\u003eThe optimism about Google's trusty Maps product comes as newer initiatives face skepticism. Morgan Stanley slashed its estimated valuation of Alphabet's Waymo by 40% last week. \u003c/p\u003e\u003cp\u003eThe investment firm said in a research note that it believed Alphabet's self-driving car business was now worth $105 billion, instead of $175 billion, because of Waymo'rs delays and complications launching a commercial business.\u003c/p\u003e\u003ch2\u003eGoogle's 2 apps give it a massive mapping market share\u003c/h2\u003e\u003cp\u003eGoogle Maps, on the other hand, doesn't have question marks surrounding its consumer viability. As Mahaney noted, navigation apps have become \"something of a utility,\" with 77% of smartphone owners using them regularly, according to a study cited in the report. \u003c/p\u003e\u003cp\u003eThat widespread usage is good news for Google, as the note also highlighted the company's massive, 80% market share of navigation apps today, which is split between Google Maps (representing 67% of the market, according to the report) and Waze (which represents 12%). \u003c/p\u003e\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/p\u003e\u003cp\u003eAs Google looks to prove that there's diversity in its revenue potential beyond traditional search ads, Mahaney's note should provide a bit of relief to Wall Street. Instead of having to wait years for some of the tech giant's long term bets to start paying off, Mahaney shows that the company can make incremental changes to existing properties - like Maps - and create major upside to its bottom line. \u003c/p\u003e\u003ch2\u003e\u003cstrong\u003eAds are the major revenue driver for Maps, but there's still room for more. \u003c/strong\u003e\u003c/h2\u003e\u003cp\u003eToday, Maps primarily makes money by selling advertisements to businesses, even though Google has repeatedly said that it doesn't want those ads \u003ca href=\"https://www.businessinsider.com/google-expands-promoted-pins-in-maps-2016-5\"\u003eto distract\u003c/a\u003e from its navigation features. Having to toe that line between maximizing profits while maintaining its user experience has forced the Maps team to be creative with its ad formats. \u003c/p\u003e\u003cp\u003eFor instance, when a user opens up Maps and sees reference points for nearby businesses, some of those reference points - known internally as \"Promoted Pins\" - are paid for by businesses themselves.\u003c/p\u003e\u003cp\u003eGoogle also offers \"Local Search Ads\" in Maps. Say, for instance, a user wants a haircut and types \"barber\" into the search bar on Maps. When they do so, a list of nearby barbershops will appear and sometimes, the top result will be a paid ad. \u003c/p\u003e\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/p\u003e\u003cp\u003eStill, Google doesn't seem to be as aggressive as it could be with ads within Maps.\u003c/p\u003e\u003cp\u003eIn a study carried out by RBS, the firm found that Local Search Ads on Maps appeared in 48% of searches on desktop, while only 21% of the time on mobile. And since most of Google Maps' usage comes from mobile (90% of total traffic happens on a smartphone, the study claims), Mahaney said the product, \"has a long way to further monetization.\" \u003c/p\u003e\u003cp\u003eSpecifically, Mahaney said that if Google increased its Maps ad loads on mobile to levels closer to its desktop product, the company would increase revenues by over $3 billion within the next two years. \u003c/p\u003e\u003ch2\u003e\u003cstrong\u003eAllowing small to medium-sized businesses to advertise on Maps could unlock major revenue. \u003c/strong\u003e\u003c/h2\u003e\u003cp\u003eMahaney also said beyond increasing the sheer number of ads on mobile, he's been impressed with Google's efforts to expand and diversify its ad offerings. \u003c/p\u003e\u003cp\u003eAt this year's Marketing Live event - the company's annual conference for advertisers - Google said it would be opening up Local Search Ads to small to medium-sized businesses (SMBs), a segment that Mahaney said \"constitutes the majority of advertisers on Google,\" but previously couldn't advertise on Maps. Google did not say when this option would be available to SMBs beyond that it would be happening \"soon,\" but Mahaney said his team was already starting to see smaller businesses advertising on Maps while conducting their research. \u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eRead more:\u003c/strong\u003e \u003ca href=\"https://www.businessinsider.com/inside-google-shifting-smartwatch-strategy-2019-9\" data-analytics-position=\"4\"\u003eThe Pixel watch that never was: An inside look at how Google's smartwatch efforts beat Apple to the punch, but then broke down and never recovered\u003c/a\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003eBeyond opening up to SMBs, Google also said at Marking Live it would roll out new ad products on Maps. One such product - which Mahaney's team dubbed the \"Suggested Stop Ad\" - asks users, like the name implies, if they'd like to add a stop along their route for a business that paid for the suggestion. \u003c/p\u003e\u003cp\u003e\"Suggested stops will be based on proximity to the route and Google's typical user data-driven recommendations,\" Mahaney said. \"Google's Waze has been experimenting with similar (and more intrusive) navigation-based ad formats since at least early 2018 and this ad format has clearly taken some inspiration from the strategic asset.\" \u003c/p\u003e\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/p\u003e\u003cp\u003eInterestingly, Waze, which was acquired by Google in 2013 but kept as a separate app since then, has proven to extremely valuable to Google Maps, Mahaney said, especially when testing new ad formats.\u003c/p\u003e\u003cp\u003eWith a smaller user base (90 million versus over one billion for Google Maps), Waze has the freedom to introduce new ad products on more of a whim. If they prove to be a success without distracting from the overall experience, those ad products can be moved over to the Maps mothership.\u003c/p\u003e\u003cp\u003e\"In our view, Waze provides Google with a tool to test and iterate on monetizing Navigation without disrupting its much larger Google Maps asset,\" Mahaney said. \u003c/p\u003e\u003cp\u003eIn what was more of a sidenote, Mahaney also touched on the alternative way that Google Maps makes money - allowing businesses to leverage its Maps service via the product's APIs.\u003c/p\u003e\u003cp\u003eAlthough only ad growth potential was considered in Mahaney's recent upgrade, the RBC director did allude to the growing importance of this particular revenue channel, especially for ridesharing companies. Uber, for instance, recently disclosed that it had paid Google over $50 million to integrate Maps into its apps for drivers and consumers, and Mahaney said he believes that number will only grow over the years.\u003c/p\u003e\u003cp\u003e\"Though advertising revenue remains the primary near-term benefit of this asset, we believe the long-term importance of owning Navigation goes far beyond that,\" he said.\u003c/p\u003e\u003cp class=\"tagline\"\u003eGet the latest Google stock price\u003ca href=\"http://markets.businessinsider.com/stock/GOOG-Quote\"\u003e here.\u003c/a\u003e\u003c/p\u003e","synopsis":"","updatedTime":1569672000000,"insertedTime":1569672000000,"img_Path":"/thumb/msid-71350555,width-640,resizemode-4,imgsize-108461/heres-why-one-of-wall-streets-most-well-known-internet-analysts-says-google-maps-is-set-to-add-billions-to-alphabets-topline.jpg","url":"heres-why-one-of-wall-streets-most-well-known-internet-analysts-says-google-maps-is-set-to-add-billions-to-alphabets-topline/articleshow/71350555.cms","slug":"enterprise/heres-why-one-of-wall-streets-most-well-known-internet-analysts-says-google-maps-is-set-to-add-billions-to-alphabets-topline","category":"Enterprise","article_type":"indian"},{"title":"THE CONNECTIVITY B2B ECOSYSTEM: How 5G and next-gen networks are transforming the role telecoms play in enterprise partnerships","msid":71319696,"readingTime":2,"authorDetail":[{"author_name":"Peter Newman","author_id":45}],"body":"\u003cul class=\"summary-list\"\u003e\u003cli\u003e\u003cspan style=\"font-weight: 400;\"\u003eThis is a preview of \u003cstrong\u003e\u003cem\u003eTHE CONNECTIVITY B2B ECOSYSTEM\u003c/em\u003e\u003c/strong\u003e\u003c/span\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cstrong\u003e\u003cem\u003e \u003c/em\u003e\u003c/strong\u003eresearch report from Business Insider Intelligence.\u003c/span\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"https://www.businessinsider.com/intelligence?IR=T\u0026amp;itm_source=businessinsider\u0026amp;itm_medium=content_marketing\u0026amp;itm_campaign=report_teaser\u0026amp;itm_content=top_text\u0026amp;itm_term=bii_subscription_text_link-the-connectivity-b2b-ecosystem-report-2019-7\"\u003e14-Day Risk Free Trial: Get full access to this and all Connectivity \u0026amp; Tech research reports.\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cdiv class=\"KonaFilter image-container no-rightrail\"\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003eConnectivity is central to doing business today - enterprises rely on telecoms to connect the various sprawling parts of their businesses as they engage in digital transformation and modernize practices. It will become even more important as telecoms roll out their blazing-fast 5G networks, which enable near-instantaneous communication alongside complementary wireless protocols that let companies monitor assets scattered around the world.\u003c/p\u003e\u003cp\u003e5G and other next-generation networks can allow telecoms to become the key partner in enterprise connectivity, where they previously were one among many. But telecoms aren't uncontested in trying to take advantage of the growing opportunity in enabling enterprise transformation: Cloud, software, and technology vendors are also out for the market, setting the stage for a clash of titans between two connectivity models that will reign in different industry verticals.\u003c/p\u003e\u003cp\u003e\u003cspan\u003eIn the \u003cem\u003e\u003cstrong\u003eConnectivity B2B Ecosystem Report\u003c/strong\u003e\u003c/em\u003e, Business Insider Intelligence unpacks the enterprise telecommunications ecosystem at the cusp of the 5G era. First, we highlight the ways that companies employ telecommunications technology in business, both today and in the near future with 5G. Next, we look at the various types of companies involved in the wider ecosystem and explore the relationships between these company archetypes. Then, we examine the players involved in these relationships and look at specific efforts and initiatives that are driving change and transforming the companies involved. Finally, we look to some of the key trends that will define the next decade of B2B telecommunications.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eHere are some key takeaways from the report:\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003eNumerous multibillion dollar opportunities exist in enterprise connectivity services, including in verticals like heavy industry and manufacturing, the connected car market, and healthcare.\u003c/li\u003e\u003cli\u003eTelecoms and tech companies headline the two competing models - tech-centric and connectivity-centric - for the focal point of the data-based services that burgeoning connectivity will support.\u003c/li\u003e\u003cli\u003eAcquisitions, foundries, corporate partnerships, and developer outreach are some of the key tactics companies can explore to drive new sources of revenue in enterprise connectivity.\u003c/li\u003e\u003cli\u003eTelecoms won't attain dominance in every sector - they need to gauge their capabilities and their competition on a range of factors before deciding whether to compete in a segment.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eIn full, the report:\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003eIdentifies the key types of companies involved in the enterprise connectivity ecosystem.\u003c/li\u003e\u003cli\u003eHighlights some of the leading companies in the different segments of the ecosystem.\u003c/li\u003e\u003cli\u003eBreaks down the leading models in the connectivity space and explains what conditions should dictate how the companies involved should approach it.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cstrong\u003e\u003cem\u003eThe companies mentioned in this report are:\u003c/em\u003e\u003c/strong\u003e Amazon, Arm, Artik, Arundo Analytics, AT\u0026amp;T, C3 IoT, Cisco, Dell, Ericsson, Everactive, GE, Google, Hewlett Packard Enterprise, Hitachi, Honeywell, Huawei, IBM, Intel, MediaTek, Microsoft, Nokia, Nvidia, Oracle, Particle, PTC, Qualcomm, Salesforce, Samsung, SAP, Semtech, Siemens, Sierra Wireless, Sigfox, Splunk, Sprint, T-Mobile, and Verizon.\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eInterested in getting the full report? Here are three ways to access it:\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003col\u003e\u003cli\u003ePurchase \u0026amp; download the full report from our research store. \u0026gt;\u0026gt;\u003cstrong\u003e\u003ca href=\"https://store.businessinsider.com/products/the-connectivity-b2b-ecosystem?IR=T\u0026amp;itm_source=businessinsider\u0026amp;itm_medium=content_marketing\u0026amp;itm_campaign=report_teaser\u0026amp;itm_content=full_report_text\u0026amp;itm_term=store_text_link-the-connectivity-b2b-ecosystem-report-2019-7\u0026amp;vertical=mobile#!/\"\u003ePurchase \u0026amp; Download Now\u003c/a\u003e\u003c/strong\u003e\u003c/li\u003e\u003cli\u003eSubscribe to a Premium pass to Business Insider Intelligence and gain immediate access to this report and more than 250 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. \u0026gt;\u0026gt;\u003cstrong\u003e \u003ca href=\"https://www.businessinsider.com/intelligence?IR=T\u0026amp;itm_source=businessinsider\u0026amp;itm_medium=content_marketing\u0026amp;itm_campaign=report_teaser\u0026amp;itm_content=learn_more_text\u0026amp;itm_term=bundle_subscription_text_link-the-connectivity-b2b-ecosystem-report-2019-7\"\u003eLearn More Now\u003c/a\u003e\u003c/strong\u003e\u003c/li\u003e\u003cli\u003eCurrent subscribers can log in and read the report\u003cstrong\u003e \u003ca href=\"https://intelligence.businessinsider.com/post/the-connectivity-b2b-ecosystem-how-5g-and-next-gen-networks-are-transforming-the-role-telecoms-play-in-enterprise-partnerships-2019-6\"\u003ehere\u003c/a\u003e\u003c/strong\u003e.\u003c/li\u003e\u003c/ol\u003e\u003cp class=\"tagline\"\u003e\u003ca href=\"https://www.businessinsider.com/intelligence/connectivity-and-tech-pro?IR=T\u0026amp;itm_source=businessinsider\u0026amp;itm_medium=ctgr_bii\u0026amp;itm_term=ctgr_subscription\u0026amp;itm_content=5g\u0026amp;itm_campaign=connectivity-and-tech-pro\"\u003e\u003c/a\u003e\u003c/p\u003e","synopsis":"","updatedTime":1569524520000,"insertedTime":1569524520000,"img_Path":"/thumb/msid-71319696,width-640,resizemode-4,imgsize-49961/the-connectivity-b2b-ecosystem-how-5g-and-next-gen-networks-are-transforming-the-role-telecoms-play-in-enterprise-partnerships.jpg","url":"the-connectivity-b2b-ecosystem-how-5g-and-next-gen-networks-are-transforming-the-role-telecoms-play-in-enterprise-partnerships/articleshow/71319696.cms","slug":"enterprise/the-connectivity-b2b-ecosystem-how-5g-and-next-gen-networks-are-transforming-the-role-telecoms-play-in-enterprise-partnerships","category":"Enterprise","article_type":"indian"},{"title":"Five years after buying Oculus for $2B, Facebook says VR is ready to take off. Here's what industry insiders think Facebook is finally getting right, and what's holding VR back.","msid":71303299,"readingTime":2,"authorDetail":[{"author_name":"Nick Bastone","author_id":45}],"body":"\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/p\u003e\u003cul class=\"summary-list\"\u003e\u003cli\u003eAt this year's \u003ca href=\"https://www.businessinsider.com/category/oculus\"\u003eOculus\u003c/a\u003e Connect - Facebook's annual developer's conference for its VR business - it was impossible to escape the event's tagline: \"The time is now.\" \u003c/li\u003e\u003cli\u003eAmong\u003ca href=\"https://www.businessinsider.com/category/facebook\"\u003e Facebook's \u003c/a\u003ebig announcements: Oculus Link, which lets owners of mid-priced Quest headset connect to a PC for high-end games; and new \"hand tracking\" technology that will eliminate the need for users to clutch special hand controllers.\u003c/li\u003e\u003cli\u003eBut VR has been heralded as the next big thing since Facebook acquired Oculus for $2 billion in 2014.\u003c/li\u003e\u003cli\u003eBusiness Insider spoke to numerous VR and AR developers at the event to get a sense of what they think is holding the technology back and when they think it will finally break into the mainstream.\u003c/li\u003e\u003cli\u003e\u003cstrong\u003e\u003ca href=\"https://www.businessinsider.com/prime?module=article\u0026amp;area=summary\"\u003eClick here for more BI Prime stories\u003c/a\u003e.\u003c/strong\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eAt this year's Oculus Connect - Facebook's annual developer's conference for its virtual reality products- it's impossible to escape the event's tagline: \"The time is now.\" \u003c/p\u003e\u003cp\u003eFrom multiple executive speeches during Tuesday's keynote down to the branded, reusable water bottle handed out to conference-goers at check-in, Facebook wants its development community to believe that the time is indeed now for VR, and for augmented reality, to finally reach mass appeal. \u003c/p\u003e\u003cp\u003eFacebook kicked off the 3-day event with some announcements that had developers in the audience visibly excited.\u003c/p\u003e\u003cp\u003ePerhaps the biggest applause of the two-hour keynote came for Oculus Link, which lets owners of the company's mid-priced Oculus Quest headsets plug into a PC to play higher quality games that were previously only available on the more powerful Rift headsets. \u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eRead more:\u003c/strong\u003e \u003ca href=\"https://www.businessinsider.com/facebook-acquired-brain-computing-startup-ctro-labs-2019-9\" data-analytics-position=\"1\"\u003eFacebook is said to be spending more than $500 million to buy a company working to let you control computers with your mind\u003c/a\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003eTo make VR a more portable and approachable experience for consumers, Facebook also wants to do away with as much hardware as possible. To accomplish this, it said that starting in 2020, Oculus Quest users won't need controllers and can instead interact simply by using their hands - a feature called \"hand tracking.\" \u003c/p\u003e\u003cp\u003e\"What you're starting to see is the hardware is getting out of the way and with each step we're getting to a more immersive and natural experience,\" CEO Mark Zuckerberg said on stage. \u003c/p\u003e\u003cp\u003eAnd what would a Facebook event be without a social media angle? On Tuesday, the company announced Facebook Horizon, a virtual reality world akin to Second Life, where users can create games, play games, and interact with one another. \u003c/p\u003e\u003cp\u003eOf course, VR has been heralded as the next big thing since Facebook acquired Oculus for $2 billion back in 2014.\u003c/p\u003e\u003cp\u003eAnd so, for all the razzle dazzle at the event on Wednesday, many developers and industry experts were reluctant to proclaim that VR has officially arrived.\u003c/p\u003e\u003cp\u003eBusiness Insider spoke to numerous VR developers at the Oculus Connect event.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003eHere's what developers and industry experts at Facebook's Oculus event believe will be the key catalysts to propel VR and AR into the mainstream: \u003c/strong\u003e\u003c/p\u003e","synopsis":"","updatedTime":1569458454000,"insertedTime":1569458454000,"img_Path":"/thumb/msid-71303299,width-640,resizemode-4,imgsize-129661/five-years-after-buying-oculus-for-2b-facebook-says-vr-is-ready-to-take-off-heres-what-industry-insiders-think-facebook-is-finally-getting-right-and-whats-holding-vr-back-.jpg","url":"five-years-after-buying-oculus-for-2b-facebook-says-vr-is-ready-to-take-off-heres-what-industry-insiders-think-facebook-is-finally-getting-right-and-whats-holding-vr-back-/articleshow/71303299.cms","slug":"enterprise/five-years-after-buying-oculus-for-2b-facebook-says-vr-is-ready-to-take-off-heres-what-industry-insiders-think-facebook-is-finally-getting-right-and-whats-holding-vr-back-","category":"Enterprise","article_type":"indian"},{"title":"A Wall Street analyst lays out the three core businesses that will help Microsoft continue its huge growth spurt","msid":71302611,"readingTime":3,"authorDetail":[{"author_name":"Benjamin Pimentel","author_id":45}],"body":"\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/p\u003e\u003cul class=\"summary-list\"\u003e\u003cli\u003e\u003cstrong\u003eA Wall Street analyst said Microsoft is riding a growth wave, thanks to the momentum of three core businesses: its cloud platform, Office 365 and its suite of business applications\u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eMorgan Stanley's Keith Weiss said Microsoft Azure, the tech giant's cloud business, is poised to lead the emerging hybrid cloud trend - where businesses have infrastructure that spans both their own data center and massive mega-clouds like Microsoft Azure. \u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eHe also said the company could potentially see more growth in its enterprise applications business which he said are \"one of the most important parts of the Microsoft story.\"\u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"https://www.businessinsider.com/prime?module=article\u0026amp;area=summary\"\u003e\u003cstrong\u003eClick here for more BI Prime stories.\u003c/strong\u003e\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eMicrosoft, the most valuable company in the world, has been riding a growth wave, which is poised to keep rolling, a Wall Street analyst said this week.\u003c/p\u003e\u003cp\u003eThe tech behemoth is getting a huge lift from three core businesses - its growing Azure cloud business, its range of subscription-based cloud products, and its suite of business applications - which Morgan Stanley analyst Keith Weiss said should lead to \"durable double-digit top line growth.\"\u003c/p\u003e\u003cp\u003eMicrosoft's cloud business, Azure, continues to gain momentum, and could propel the company to a leading position in a key market trend, the rise of the hybrid cloud.\u003c/p\u003e\u003cp\u003e\"Ultimately, Microsoft remains the best positioned name in tech for the emerging hybrid cloud architectures,\" Weiss told clients in a note.\u003c/p\u003e\u003cp\u003eCloud computing has made it possible for businesses to set up their networks in web-based platforms, allowing them to scale down or even abandon private data centers, which leads to huge cost savings. That market is dominated by Amazon, Microsoft and Google, with Microsoft Azure taking a strong second-place position against Amazon Web Services.\u003c/p\u003e\u003cp\u003eA new trend, called hybrid cloud, has also emerged for businesses that choose to move some segments of their network to the cloud, while also maintaining huge chunks of their data and applications in private data centers.\u003c/p\u003e\u003cp\u003eMicrosoft's strong presence in the two realms - private data centers and the cloud - is giving the company an edge in this market, particularly with businesses that are unable or reluctant to complete move to the cloud, Weiss said.\u003c/p\u003e\u003cp\u003e\"Customers have varying plans and timelines for their digital transformation initiatives,\" he said. Many Microsoft customers \"can confidently invest\" in the company's products geared to private data centers, while exploring options to use Azure, he said.\u003c/p\u003e\u003cp\u003eMicrosoft's cloud momentum was underscored in July when, \u003ca href=\"https://www.businessinsider.com/microsoft-earnings-cloud-unit-windows-office-2019-7\"\u003efor the first time since it launched in 2015, \u003c/a\u003eits cloud business posted more revenue than its other key businesses, including Office and Windows.\u003c/p\u003e\u003cp\u003e\"We are more confident in the durability of growth, as we were consistently reminded [that] we are in the early days of the large opportunity,\" Weiss said.\u003c/p\u003e\u003cp\u003eMicrosoft's flagship Office 365 business, combined with Windows 10 and and its enterprise mobility and security unit, also remains strong, Weiss said. Those products are packaged together into one subscription-based business, called Microsoft 365.\u003c/p\u003e\u003cp\u003eThe growth of the Microsoft 365 business was highlighted by expanding average revenue per user for Office 365, Weiss said.\u003c/p\u003e\u003cp\u003eWeiss also cited gains from the tech giant's suite of business applications, which includes LinkedIn, the professional social networking platform, Linkedin; Microsoft Dynamics, its line of enterprise business applications; and Power Platform, which enables businesses to build customized software in the cloud with a minimum of coding required. \u003c/p\u003e\u003cp\u003eWeiss highlighted the potential gains from these products which said are \"one of the most important parts of the Microsoft story.\"\u003c/p\u003e\u003cp\u003eThe $1.1 trillion company's shares have climbed more than 35% year-to-date. It was last up nearly 2% on Wednesday at $139.53.\u003c/p\u003e\u003cp\u003e\u003cem\u003eGot a tip about Microsoft or another tech company? Contact this reporter via email at \u003c/em\u003e\u003cem\u003ebpimentel@businessinsider.com\u003c/em\u003e\u003cem\u003e, message him on Twitter \u003c/em\u003e\u003ca href=\"https://twitter.com/benpimentel\"\u003e\u003cem\u003e@benpimentel\u003c/em\u003e\u003c/a\u003e\u003cem\u003e. You can also \u003c/em\u003e\u003ca href=\"https://www.businessinsider.com/how-to-tip-business-insider-securely-guide-signal-securedrop-2017-6\"\u003e\u003cem\u003econtact Business Insider securely via SecureDrop\u003c/em\u003e\u003c/a\u003e\u003cem\u003e.\u003c/em\u003e\u003c/p\u003e\u003cp class=\"tagline\"\u003eGet the latest Microsoft stock price\u003ca href=\"http://markets.businessinsider.com/stock/MSFT-Quote\"\u003e here.\u003c/a\u003e\u003c/p\u003e","synopsis":"","updatedTime":1569442095000,"insertedTime":1569442095000,"img_Path":"/thumb/msid-71302611,width-640,resizemode-4,imgsize-61580/a-wall-street-analyst-lays-out-the-three-core-businesses-that-will-help-microsoft-continue-its-huge-growth-spurt.jpg","url":"a-wall-street-analyst-lays-out-the-three-core-businesses-that-will-help-microsoft-continue-its-huge-growth-spurt/articleshow/71302611.cms","slug":"enterprise/a-wall-street-analyst-lays-out-the-three-core-businesses-that-will-help-microsoft-continue-its-huge-growth-spurt","category":"Enterprise","article_type":"indian"},{"title":"Apple Mac Pro computers across Hollywood were mysteriously crashing, and it turned out a Google Chrome update was the culprit","msid":71302338,"readingTime":2,"authorDetail":[{"author_name":"Antonio Villas-Boas","author_id":45}],"body":"\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003cul class=\"summary-list\"\u003e\u003cli\u003eProfessional video editors across Los Angeles were reporting that their \u003ca href=\"https://www.businessinsider.com/category/apple\"\u003eApple\u003c/a\u003e \u003ca href=\"https://www.businessinsider.com/category/mac-pro\"\u003eMac Pro\u003c/a\u003e computers were mysteriously crashing and not rebooting on Monday.\u0026#xa0;\u003c/li\u003e\u003cli\u003eSince many video editors commonly run the Avid video editing software, it was thought that Avid had something to do with the Mac Pro issues.\u0026#xa0;\u003c/li\u003e\u003cli\u003eAt the end of the day, the issue stemmed from a simple \u003ca href=\"https://www.businessinsider.com/category/google\"\u003eGoogle\u003c/a\u003e \u003ca href=\"https://www.businessinsider.com/category/chrome\"\u003eChrome\u003c/a\u003e web browser update, which affected \u003ca href=\"https://www.businessinsider.com/category/macos\"\u003emacOS\u003c/a\u003e systems that had a specific, obscure setting disabled.\u003c/li\u003e\u003cli\u003eMany video editors reportedly disable this specific setting on their Mac computers to connect specialized audio and video hardware to their computers.\u003c/li\u003e\u003cli\u003e\u003cstrong\u003e\u003ca href=\"https://www.businessinsider.com/\"\u003eVisit Business Insider's homepage for more stories\u003c/a\u003e.\u003c/strong\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eA mysterious wave of crashing Apple Mac Pro computers affected several film and TV editors in Los Angeles on Monday, and it was initially thought that video editing software Avid was to blame, according to \u003ca href=\"https://variety.com/2019/digital/news/avid-mac-pro-corrupted-hollywood-1203347033/\"\u003eVariety\u003c/a\u003e.\u0026#xa0;\u003c/p\u003e\u003cp\u003eIndeed, the crashing Macs appeared to be localized in Los Angeles, and those reporting the crashes commonly run the Avid video editing software.\u0026#xa0;\u003c/p\u003e\u003cp\u003eThe incident caused editors to warn their colleagues to refrain from turning off their Mac computers running the Avid software, as they might not get the computers to turn back on. The industry appeared almost panicked.\u0026#xa0;\u003c/p\u003e\u003cp\u003e\u0026#xa0;\u003c/p\u003e\u003cp\u003eAvid itself seemed to go to red-alert. The company told Variety that it was aware of the issue, and Avid CEO Jeff Rosica and its CTO Tim Claman even posted a video on Tuesday reassuring its customers that the company was working \"around the clock\" to fix the issue and that company engineers were scrambled to locations where Macs were affected, according to Variety.\u0026#xa0;\u003c/p\u003e\u003cp\u003eHowever, in the end, it was a Google Chrome web browser update that was the offender, \u003ca href=\"https://variety.com/2019/digital/news/mac-pro-avid-shutdowns-chrome-update-keystone-1203348549/\"\u003eVariety later reported\u003c/a\u003e on Wednesday.\u003c/p\u003e\u003cp\u003eGoogle \u003ca href=\"https://support.google.com/chrome/thread/15235262?hl=en\"\u003epublished a post\u003c/a\u003e in its Chrome support forum that the latest version of Chrome could affect some macOS systems.\u0026#xa0;\u003c/p\u003e\u003cp\u003eIn its post, a Chrome support manager stated that the issue would only occur if a Mac's \"System Integrity Protection\" was disabled.\u003c/p\u003e\u003cp\u003eThat's not something most Mac users would do, but professional video editors may disable their Mac's System Integrity Protection setting in order to connect external audio and video hardware that aren't typically compatible with Mac computers.\u0026#xa0;\u003c/p\u003e\u003cp\u003eGoogle told Business Insider it had no other comment to add on the incident beyond the company's forum post, linked above.\u0026#xa0;\u003c/p\u003e\u003cp class=\"tagline\"\u003eGet the latest Google stock price\u003ca href=\"http://markets.businessinsider.com/stock/GOOG-Quote\"\u003e here.\u003c/a\u003e\u003c/p\u003e\u003cdiv\u003e\u003c/div\u003e","synopsis":"","updatedTime":1569439669000,"insertedTime":1569439669000,"img_Path":"/thumb/msid-71302338,width-640,resizemode-4,imgsize-13929/apple-mac-pro-computers-across-hollywood-were-mysteriously-crashing-and-it-turned-out-a-google-chrome-update-was-the-culprit.jpg","url":"apple-mac-pro-computers-across-hollywood-were-mysteriously-crashing-and-it-turned-out-a-google-chrome-update-was-the-culprit/articleshow/71302338.cms","slug":"enterprise/apple-mac-pro-computers-across-hollywood-were-mysteriously-crashing-and-it-turned-out-a-google-chrome-update-was-the-culprit","category":"Enterprise","article_type":"indian"},{"title":"Here's why investors are starting to make big bets on Spinnaker, a Netflix-started software project that could be the next big thing in cloud computing","msid":71283820,"readingTime":6,"authorDetail":[{"author_name":"Tom Krazit","author_id":45}],"body":"\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/p\u003e\u003cul class=\"summary-list\"\u003e\u003cli\u003e\u003cstrong\u003eSpinnaker, originally developed at Netflix, is emerging as one of the next big things to watch in the world of open source software. \u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eIt's still early, but Spinnaker is roughly mirroring the path taken by Kubernetes - a Google-created open source project that's since become a standard in the cloud. \u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eSpinnaker makes it easier to quickly and automatically deploy software across their own servers and multiple clouds, like those of Amazon or Microsoft. \u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eSpinnaker-based startups like Armory and OpsMX are starting to build traction and attract venture capital investment. \u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003eThey say that they're benefiting from an increased understanding from large companies that they can't bet on one cloud provider.\u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003e\u003ca href=\"https://www.businessinsider.com/prime?module=article\u0026amp;area=summary\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https://www.google.com/url?q=https://www.businessinsider.com/prime?module%3Darticle%26area%3Dsummary\u0026amp;source=gmail\u0026amp;ust=1569373025627000\u0026amp;usg=AFQjCNGBf6UtdpgMMTJ4wXOkFk9lPQca1A\"\u003eClick here for more BI Prime stories.\u003c/a\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eThe first wave of cloud computing startups focused on helping companies simply figure out how to operate in this new world of servers, rented from mega-players like Amazon Web Services or Microsoft Azure.\u003c/p\u003e\u003cp\u003eEarly-stage investors believe the next wave will focus on helping companies maximize their potential across different cloud providers.\u003c/p\u003e\u003cp\u003eOriginally developed at cloud pioneer Netflix, \u003ca href=\"https://businessinsider.com/armory-28-million-spinnaker-netflix-google-2019-7\"\u003eSpinnaker\u003c/a\u003e is one such emerging open-source technology that is buzzing around the halls of enterprise-focused investors and WeWork lounges alike. Spinnaker is attracting a growing cast of large and small backers for its continuous integration and deployment technology, which helps software developers quickly and more easily push changes to apps running on a wide variety of cloud or on-premises servers.\u003c/p\u003e\u003cp\u003eAccording to project backers and venture capitalists, Spinnaker appears to be on the same trajectory that Kubernetes - the \u003ca href=\"https://www.businessinsider.com/what-is-kubernetes-google-cloud-2019-1\"\u003eGoogle-created open source technology that's become something of a standard in the cloud\u003c/a\u003e - was just a few years ago.\u003c/p\u003e\u003cp\u003eStartups built around containers and Kubernetes have raised billions over the last several years, which has resulted in several prominent exits such as CoreOS, acquired by Red Hat for $250 million; Twistlock, acquired by Palo Alto Networks for $410 million; and Heptio, acquired by VMware for around $500 million according to several sources familiar with the deal.\u003c/p\u003e\u003cp\u003eIt's still early for Spinnaker, but startups based around the technology like \u003ca href=\"https://businessinsider.com/armory-28-million-spinnaker-netflix-google-2019-7\"\u003eArmory\u003c/a\u003e and OpsMX have received serious funding in the last 12 months, and infrastructure-oriented founders are starting to realize the potential of the technology. As software becomes even more entrenched as the engine of the modern economy, tools that help big companies build, fix, and deploy software like nimble startups become must-haves.\u003c/p\u003e\u003cp\u003e\"An increasingly large percentage of what (all companies) are is an entity that builds software: its core DNA is becoming a software business,\" said Lonne Jaffe, managing director at Insight Partners. \"If it's not doing that, it's getting replaced by some company in the same industry that is doing that.\"\u003c/p\u003e\u003ch2\u003eSpinnaker was born from Netflix's own struggle\u003c/h2\u003e\u003cp\u003eSpinnaker was born from Netflix's internal struggle to manage and deploy software changes across a huge swatch of its Amazon Web Services infrastructure.\u003c/p\u003e\u003cp\u003eNetflix is a cloud-computing legend, having built its massive video-streaming operation entirely on AWS very early in the game, and it needed a tool to help it roll out new changes to its software without taking down the entire operation.\u003c/p\u003e\u003cp\u003eSpeed has become an extremely important part of modern software development, given the pace of technology development we've seen over the last ten years. But when you move fast, you break things, and so lots of software development teams use tools that allow them to test application changes on a small pool of users before rolling those changes out to all of their customers.\u003c/p\u003e\u003cp\u003e\"A typical software company is releasing new software a few times a month. A company like Netflix is releasing software many times a day,\" Jaffe said.\u003c/p\u003e\u003cp\u003eManaging this process within your own data centers is one thing, but Netflix and other companies quickly learned that managing it in the cloud is far more complex. Netflix built an earlier open-source project called Asgard to handle that complexity - but Asgard only worked with AWS, while the open-source community liked the bulk of its features and wanted a way to use it with other clouds or on their own servers.\u003c/p\u003e\u003cp\u003e\"We believed that if we created a pluggable platform other people and companies could extend Spinnaker to work with other clouds and in ways we never would have imagined. The community that has emerged around this common platform has delivered on this bet with a variety of innovations that benefit everyone,\" Andrew Glover, director of delivery engineering at Netflix and leader of the team that created Spinnaker told Business Insider in a statement.\u003c/p\u003e\u003ch2\u003eGoogle gets involved\u003c/h2\u003e\u003cp\u003eStill, putting a complex open-source project at the heart of your software-development production process is not for the faint of heart. Companies that can't afford to hire or keep the talent needed to maintain those projects within their ranks often look to third-party vendors that are building tools around interesting open-source projects, and that's where Armory comes in.\u003c/p\u003e\u003cp\u003eIn August, Silicon Valley-based Armory raised a $28 million Series B led by Jaffe of Insight Partners to build tools around Spinnaker. In an interview, Armory CEO Daniel Odio explained that customers are looking for a tool that can help them change the culture of their software development toward rapid but safe deployment.\u003c/p\u003e\u003cp\u003ePotential customers are \"terrified of deploying software because they are terrified of breaking customer trust\" with showstopper bugs or outright outages, Odio said. This creates a huge opportunity for companies like Armory to build tools around Spinnaker that help those customers realize the benefits of continuous deployment without having to do as much work to fit it into their regular workflow, he said.\u003c/p\u003e\u003cp\u003eSpinnaker can also help customers future-proof decisions they are making about building applications around containers, Kubernetes, or serverless technologies by providing a way to deploy those apps on many different clouds and platforms, Odio said.\u003c/p\u003e\u003cp\u003e\"I see Fortune 500 CIOs just starting to realize, it used to be the case you could make bets on specific infrastructure technologies, and it's like that for a decade,\" Odio said. \"You need to be able to make bets on whatever the infrastructure layer is going to be for the workload's specific performance needs.\"\u003c/p\u003e\u003cp\u003eGoogle has contributed a substantial amount to Spinnaker's development since it left Netflix, and hopes it can be another tool to wring workloads out of cloud leader Amazon Web Services and on-premises data centers. As big companies decide how to modernize their software practices, a lot of them will need to maintain on-premises applications while keeping a handle on their cloud efforts, said Andrew Philips, a product manager with Google.\u003c/p\u003e\u003cp\u003e\"You can write a lot of scripts to do that, but it's brutal, and each team winds up doing it their own way,\" Philips said.\u003c/p\u003e\u003ch2\u003eA growing ecosystem\u003c/h2\u003e\u003cp\u003eOther startups working on Spinnaker tools include Palo Alto's OpsMx, which has more than 50 employees around the world. OpsMx has received a modest but undisclosed amount funding from Foundation Capital - one of the original investors in Netflix - and Dell Technologies Capital, as well as several prominent cloud-computing executives such as Adrian Cockcroft, a ten-year veteran of Netflix's cloud build-out and currently vice president of cloud architecture strategy at AWS, Scott Johnston, COO of Docker, and Guido Appenzeller, the former long-time CTO of VMware.\u003c/p\u003e\u003cp\u003eKubernetes introduced the world to the notion of \"declarative infrastructure,\" said OpsMX CEO Gopal Dommety. Declarative infrastructure is the idea that the computing resources that software needs to run can be described in the code, and the underlying system automatically makes it happen.\u003c/p\u003e\u003cp\u003e\"Declarative application delivery is the next thing that makes sense, and Spinnaker makes the most sense for that,\" Dommety said. In other words, Dometty says, he sees a trend towards software like Spinnaker that automates the process of packaging up and releasing the code into one or multiple clouds. \u003c/p\u003e\u003cp\u003eAs more and more companies look for flexibility when they consider where to run the next generation of their critical business applications, businesses built around Spinnaker could turn into massive opportunities.\u003c/p\u003e\u003cp\u003eOne key factor in the rise of Kubernetes was the backing of the Cloud Native Computing Foundation, an organization that was formed with the release of Kubernetes in 2015 and has helped the backers of more than two-dozen Kubernetes-adjacent open-source projects develop their ideas. The Linux Foundation, the umbrella organization above the CNCF, created the Continuous Delivery Foundation earlier this year to accelerate the development of Spinnaker and several other projects tied to this area.\u003c/p\u003e\u003cp\u003eFoundations are controversial in the open-source world for appearing to pick and choose their winners based on the interests of their major corporate backers, but they also help promote key open-source projects like Kubernetes and Spinnaker and by association, the startups built around those projects.\u003c/p\u003e\u003cp\u003eThat's one key reason why investors like Insight Partners' Jaffe are very interested in Spinnaker, he said.\u003c/p\u003e\u003cp\u003e\"One of the nice things about Netflix being one of the core players is that they are not a software company in the traditional sense, they're not conflicted,\" he said. \"They actually care about Spinnaker getting better more quickly because they use it.\"\u003c/p\u003e \u003cp class=\"tagline\"\u003e\u003ca href=\"https://www.businessinsider.com/intelligence/top-10-trends-in-digital-media?IR=T\u0026amp;itm_source=businessinsider\u0026amp;itm_medium=ctgr_bii\u0026amp;itm_term=ctgr_leadgen\u0026amp;itm_content=netflix\u0026amp;itm_campaign=top-10-trends-in-digital-media\"\u003e\u003c/a\u003e\u003c/p\u003e","synopsis":"","updatedTime":1569348540000,"insertedTime":1569348540000,"img_Path":"/thumb/msid-71283820,width-640,resizemode-4,imgsize-153218/heres-why-investors-are-starting-to-make-big-bets-on-spinnaker-a-netflix-started-software-project-that-could-be-the-next-big-thing-in-cloud-computing.jpg","url":"heres-why-investors-are-starting-to-make-big-bets-on-spinnaker-a-netflix-started-software-project-that-could-be-the-next-big-thing-in-cloud-computing/articleshow/71283820.cms","slug":"enterprise/heres-why-investors-are-starting-to-make-big-bets-on-spinnaker-a-netflix-started-software-project-that-could-be-the-next-big-thing-in-cloud-computing","category":"Enterprise","article_type":"indian"},{"title":"See the pitch deck that data analytics startup Fivetran used to convince Andreessen Horowitz to lead its $44 million Series B and join its board","msid":71278954,"readingTime":2,"authorDetail":[{"author_name":"Megan Hernbroth","author_id":45}],"body":"\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/p\u003e\u003cul class=\"summary-list\"\u003e\u003cli style=\"font-weight: 400;\"\u003e\u003cstrong\u003eFivetran, a data analytics startup, announced a $44 million Series B funding round on Tuesday.\u003c/strong\u003e\u003c/li\u003e\u003cli style=\"font-weight: 400;\"\u003e\u003cstrong\u003eAndreessen Horowitz led the round with existing investors Matrix Partners and CEAS Investments. Andreessen Horowitz general partner Martin Casado will join Fivetran's board as part of the fundraising round.\u003c/strong\u003e\u003c/li\u003e\u003cli style=\"font-weight: 400;\"\u003e\u003cstrong\u003eFivetran operates in the\u003ca href=\"https://www.businessinsider.com.au/category/data-analytics\"\u003e highly competitive data analytics space\u003c/a\u003e, and works directly with \u003ca href=\"https://www.businessinsider.com/snowflake-cloud-data-storage-startups-cloud-giants-2019-6\"\u003epopular tools like Snowflake\u003c/a\u003e and Google Analytics to centralize companies' data across multiple teams.\u003c/strong\u003e\u003c/li\u003e\u003cli style=\"font-weight: 400;\"\u003e\u003cstrong\u003eSee the pitch the Fivetran team used that was so compelling one of Silicon Valley's most notable investors chose to lead the round.\u003c/strong\u003e\u003c/li\u003e\u003cli style=\"font-weight: 400;\"\u003e\u003cstrong\u003e\u003ca href=\"https://www.businessinsider.com/prime?module=article\u0026amp;area=summary\"\u003eClick here for more BI Prime stories\u003c/a\u003e.\u003c/strong\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eOne of the \u003ca href=\"https://www.businessinsider.com.au/category/data-analytics\"\u003emost competitive industries for startups\u003c/a\u003e is not exactly the sexiest. Data analytics startups may not excite the average user, but \u003ca href=\"https://www.businessinsider.com/salesforce-to-acquire-tableau-2019-6\"\u003eVCs are going all in on the hot space\u003c/a\u003e.\u003c/p\u003e\u003cp\u003eCase in point: Fivetran, another data analytics startup that centralizes companies' data in a single dashboard, announced its $44 million Series B on Tuesday. Andreessen Horowitz, one of the most notable venture firms in Silicon Valley, led the round, and general partner Martin Casado will join the startup's board of directors. Existing investors Matrix Partners and CEAS Investments also participated in the round.\u003c/p\u003e\u003cp\u003e\"Data-driven insights are essential for building successful organizations, but the rapid growth of cloud-derived data makes it hard to provide a centralized view of marketing, sales, finance or HR,\" said Fivetran cofounder and CEO George Fraser. \"We automate the data integration required to centralize data in cloud warehouses, eliminating the need to build complex data pipelines.\"\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eRead More:\u003c/strong\u003e \u003c/em\u003e\u003ca href=\"https://www.businessinsider.com/harper-scott-john-howard-lew-frankfort-coach-sephora-swag-2019-9\"\u003e\u003cem\u003eThe company behind Sephora's cult-favorite loyalty gifts just won backing from the former CEO of Coach at a $57.5 million valuation to fix the problem of disposable corporate swag\u003c/em\u003e\u003c/a\u003e\u003c/p\u003e\u003cp\u003eFivetran works by \u003ca href=\"https://www.businessinsider.com/snowflake-cloud-data-storage-startups-cloud-giants-2019-6\"\u003econnecting business tools like Snowflake\u003c/a\u003e, Google Analytics, and \u003ca href=\"https://www.businessinsider.com/salesforce-to-acquire-tableau-2019-6\"\u003ecustomer relationship management software like Salesforce\u003c/a\u003e into a single dashboard for insights and analysis across different business teams. According to the startup, it has 750 customers, including other hot startups like Lime and Optimizely in addition to more traditional retailers like Urban Outfitters.\u003c/p\u003e\u003cp\u003eFor such a highly competitive industry, getting industry heavyweights as investors can be make or break for young startups. Fivetran exclusively shared with Business Insider the pitch deck its team used to bring on Andreessen Horowitz to its existing venture investor roster.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003eSee the pitch deck that helped arm Fivetran to take on some of the biggest tech companies with $44 million in fresh funding.\u003c/strong\u003e\u003c/p\u003e","synopsis":"","updatedTime":1569330000000,"insertedTime":1569330000000,"img_Path":"/thumb/msid-71278954,width-640,resizemode-4,imgsize-37703/see-the-pitch-deck-that-data-analytics-startup-fivetran-used-to-convince-andreessen-horowitz-to-lead-its-44-million-series-b-and-join-its-board.jpg","url":"see-the-pitch-deck-that-data-analytics-startup-fivetran-used-to-convince-andreessen-horowitz-to-lead-its-44-million-series-b-and-join-its-board/articleshow/71278954.cms","slug":"enterprise/see-the-pitch-deck-that-data-analytics-startup-fivetran-used-to-convince-andreessen-horowitz-to-lead-its-44-million-series-b-and-join-its-board","category":"Enterprise","article_type":"indian"},{"title":"Firing Adam Neumann won't solve WeWork's biggest problem: The underlying business stinks","msid":71267892,"readingTime":8,"authorDetail":[{"author_name":"Troy Wolverton","author_id":45}],"body":"\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/p\u003e\u003cul class=\"summary-list\"\u003e\u003cli\u003e\u003ca href=\"https://www.businessinsider.com/category/wework\"\u003eWeWork's\u003c/a\u003e board is reportedly considering removing \u003ca href=\"https://www.businessinsider.com/category/adam-neumann\"\u003eAdam Neumann\u003c/a\u003e as the company's CEO in the wake of the company's decision to postpone its \u003ca href=\"https://www.businessinsider.com/category/ipo\"\u003einitial public offering\u003c/a\u003e.\u003c/li\u003e\u003cli\u003eNeumann has drawn criticism for a series of eyebrow-raising transactions involving the company and for reports of irresponsible or questionable behavior.\u003c/li\u003e\u003cli\u003eBut removing Neumann won't solve WeWork's basic business problems.\u003c/li\u003e\u003cli\u003eWeWork is in real estate but has been acting and spending like it's a tech company, which is leading to both an urgent cash crunch and a chronic mismatch between revenue and expenses.\u003c/li\u003e\u003cli\u003e\u003ca href=\"https://www.businessinsider.com/heres-the-latest-wework-news-2019-6?utm_source=markets\u0026amp;utm_medium=ingest\" target=\"_blank\" rel=\"noopener\"\u003eRead all of Business Insider's WeWork coverage here\u003c/a\u003e.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eAdam Neumann does not seem like the kind of person you'd want running a public company - or maybe any company at all.\u003c/p\u003e\u003cp\u003eBut anyone who thinks removing him as WeWork's CEO is going to solve the company's problem and get its initial public offering back on track is seriously deluding him or herself.\u003c/p\u003e\u003cp\u003eThe commercial real estate giant's fundamental problem is not that it has an entitled, hard partying, apparently self-dealing egomaniac as its head. Its core trouble is that it has a business model that just doesn't work.\u003c/p\u003e\u003cp\u003eBy itself, replacing Neumann as CEO isn't going to change the fact that WeWork \u003ca href=\"https://www.businessinsider.com/wework-s-1-prospectus-ipo-revenue-cash-flow-2019-8\"\u003eloses about a $1 for every $1 that it takes in revenue\u003c/a\u003e. Putting someone on the order of Jack Welch or Steve Jobs or even real estate titan \u003ca href=\"https://www.businessinsider.com/sam-zell-bashes-wework-2019-9\"\u003eSam Zell\u003c/a\u003e at the helm at WeWork alone isn't going to change the fact that the company is burning through cash like a wildfire going through a California forest after a seven-year drought and \u003ca href=\"https://www.businessinsider.com/wework-has-6-billion-incentive-to-complete-ipo-this-year-2019-9\"\u003eis on track to run out of money as soon as this spring\u003c/a\u003e.\u003c/p\u003e\u003cp\u003eAnd getting rid of Neumann isn't going to alter the fact that WeWork has an \u003ca href=\"https://www.businessinsider.com/wework-47-billion-and-4-billion-lease-disparity-dangerous-recipe-2019-8\"\u003eorder of magnitude mismatch\u003c/a\u003e between what it owes its landlords in coming years and what its tenants are committed to paying for its services.\u003c/p\u003e\u003cp\u003eThis is a company that - at least as it stands now - has a fatally flawed business. The only reason it's stayed operating as long as it has is because investors were foolish enough - or so entranced by Neumann's cult-leader-like personality - to keep pouring copious amounts of cash into it to the tune of nearly $13 billion.\u003c/p\u003e\u003cp\u003eRemoving Neumann might make some lenders and investors more comfortable with putting even more money into the company. But unless WeWork's new leadership overhauls the company's basic business model, the coworking giant's not going to be any more likely to survive into the future than it is now.\u003c/p\u003e\u003ch2\u003eScrutiny of Neumann has been increasing\u003c/h2\u003e\u003cp\u003eIt's no surprise that the board is considering removing Neumann. He has long inspired skepticism even as he built WeWork into a real estate titan with a $47 billion private valuation and an immense portfolio of leased office space. He has drawn increasing amounts of scrutiny in recent months amid a series of revelations about his personal finances and dealings with the company.\u003c/p\u003e\u003cp\u003eBy selling stock and borrowing against his WeWork shares, Neumann has \u003ca href=\"https://www.businessinsider.com/weworks-neumanns-700-million-cash-out-enabled-by-venture-market-2019-7\"\u003ecashed in some $700 million of his holdings in the company\u003c/a\u003e. He made millions more by \u003ca href=\"https://www.businessinsider.com/wework-ceo-adam-neumann-office-space-landlord-2019-1\"\u003ebuying stakes in buildings and leasing space in them to WeWork\u003c/a\u003e and by \u003ca href=\"https://www.businessinsider.com/how-wework-paid-adam-neumann-59-million-to-use-the-name-we-2019-8\"\u003eregistering the \"We\" trademark and selling it to the company\u003c/a\u003e.\u003c/p\u003e\u003cp\u003eMeanwhile, the company e\u003ca href=\"https://www.businessinsider.com/weworks-ipo-filings-show-founder-neumanns-real-estate-family-ties-2019-8\"\u003employed at least two of his relatives\u003c/a\u003e and gave his wife the power to help name his successor should he die or become incapacitated. And it \u003ca href=\"https://www.businessinsider.com/wework-adopts-up-c-structure-2019-8\"\u003eset up a corporate structure\u003c/a\u003e right before it made its IPO paperwork public that insulates him from outside shareholders and can shift the tax burden on future profits from him to them.\u003c/p\u003e\u003cp\u003eAfter such deals and arrangements raised eyebrows among investors, WeWork and Neumann made a few changes. He \u003ca href=\"https://www.businessinsider.com/wework-ceo-gives-back-millions-from-we-trademark-after-criticism-2019-9\"\u003eagreed to return the money\u003c/a\u003e he made on the trademark and to \u003ca href=\"https://markets.businessinsider.com/news/stocks/the-we-company-ipo-wework-confirms-nasdaq-listing-governance-changes-2019-9-1028522885\"\u003eaccept some limitations on his ability to profit from the buildings\u003c/a\u003e leased to WeWork. His wife was removed from her role in succession planning. And Neumann agreed to reduce his voting power from 20 votes per share to 10 votes per share.\u003c/p\u003e\u003cp\u003eBut a \u003ca href=\"https://www.wsj.com/articles/this-is-not-the-way-everybody-behaves-how-adam-neumanns-over-the-top-style-built-wework-11568823827?shareToken=st3fcd4c5c55d94ffc80b5721a8aa6ffa2\"\u003eWall Street Journal article\u003c/a\u003e last week raised fresh concerns about Neumann's fitness to lead WeWork. The article included anecdotes about Neumann's \u003ca href=\"https://www.businessinsider.com/wework-ceo-adam-neumann-smoked-weed-private-jet-report-2019-9\"\u003esubstance use\u003c/a\u003e and seemingly capricious and chaotic management style.\u003c/p\u003e\u003cp\u003eNeumann was forced to find his own way home from Israel after the flight deck of the private plane that flew him there found a stash of marijuana left there, presumably for the ride home, according to the article. Executive meetings and company parties involved prodigious amounts of tequila, the Journal reported. And the company held a booze-soaked party immediately after Neumann held a meeting to discuss his decision to lay off 7% of WeWork's staff.\u003c/p\u003e\u003cp\u003eIn the wake of that article - and WeWork's scuttled IPO, which \u003ca href=\"https://markets.businessinsider.com/news/stocks/wework-reportedly-postpones-ipo-lack-of-investor-interest-2019-9-1028529278\"\u003eit postponed\u003c/a\u003e even before the article amid Wall Street resistance - the company's investors and board reportedly began discussing Neumann's future role at the company. The board \u003ca href=\"https://www.businessinsider.com/exclusive-we-company-ceo-neumann-starts-talks-on-his-role-at-wework-parent-sources-2019-9\"\u003eis meeting this week to figure out what to do\u003c/a\u003e. Among other things, it's reportedly considering forcing Neumann to step down as WeWork's CEO, possibly to remain as its non-executive chairman.\u003c/p\u003e\u003ch2\u003eUber offers a cautionary tale\u003c/h2\u003e\u003cp\u003eForcing Neumann out could be a positive step. When Uber made a similar move two years ago, first \u003ca href=\"https://www.businessinsider.com/uber-ceo-travis-kalanick-out-2017-6\"\u003eousting founder Travis Kalanick\u003c/a\u003e as its CEO and then \u003ca href=\"https://www.businessinsider.com/dara-khosrowshahi-is-officially-ubers-new-ceo-2017-8\"\u003ereplacing him with Dara Khosrowshahi\u003c/a\u003e, it led to something of a corporate makeover. Uber \u003ca href=\"https://www.businessinsider.com/uber-settles-with-waymo-in-self-driving-lawsuit-2018-2\"\u003esettled a legal dispute with Google spin-off Waymo\u003c/a\u003e, \u003ca href=\"https://www.businessinsider.com/uber-softbank-deal-limits-travis-kalanicks-power-but-hes-ok-with-that-2017-12\"\u003erestructured its corporate governance\u003c/a\u003e, \u003ca href=\"https://www.businessinsider.com/uber-fired-more-than-20-employees-as-part-of-its-sex-harassment-probe-2017-6\"\u003efired a slew of people for sexual harassment\u003c/a\u003e, and vowed to be a better corporate citizen. Crucially for investors, it eventually was able to \u003ca href=\"https://www.businessinsider.com/uber-prices-ipo-at-45-per-share-2019-5\"\u003ecomplete its long-awaited public offering\u003c/a\u003e.\u003c/p\u003e\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table float_left\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003eBut Uber's experience also serves as a cautionary tale for WeWork. Because replacing Kalanick with Khosrowshahi didn't fix Uber's underlying business problems. The app-based taxi company \u003ca href=\"https://www.businessinsider.com/uber-stock-price-falls-q2-2019-earnings-losses-worse-expected-2019-8\"\u003eis still losing billions of dollars\u003c/a\u003e and burning through huge amounts of cash. Khosrowshahi has proven no better than Kalanick at figuring out a sustainable business model. If anything, his task has become more difficult amid sustained competition, \u003ca href=\"https://www.businessinsider.com/california-bill-to-treat-contract-workers-as-employees-2019-9\"\u003egrowing regulation\u003c/a\u003e, and \u003ca href=\"https://www.businessinsider.com/uber-lyft-strike-drivers-explain-why-theyre-protesting-2019-5\"\u003eincreasing unrest among Uber's drivers\u003c/a\u003e.\u003c/p\u003e\u003cp\u003eAnd Uber's job is arguably much easier than WeWork's. After all, Uber is basically a technology service. Although it duplicates a taxi business, it doesn't own cars or employ drivers, at least not yet. It just provides a kind of online marketplace that connects riders with drivers. And eBay showed nearly two decades ago that operating a marketplace that brings together buyers and sellers of goods or services can be a significantly profitable business.\u003c/p\u003e\u003cp\u003eBut unlike Uber, WeWork has \u003ca href=\"https://www.businessinsider.com/wework-ipo-s1-shows-real-estate-company-not-tech-firm-2019-8\"\u003efew real claims to being a technology business\u003c/a\u003e at heart. Its basic business is leasing space from building owners on long-term leases, subdividing those spaces, and then subleasing them to other companies on much shorter-term deals. It's had to spend billions of dollars leasing space - and has had to commit to spending billions more in the future so that it can keep growing. It's also had to spend billions of dollars building out and furnishing those spaces.\u003c/p\u003e\u003cp\u003eIt's not unusual for commercial real-estate companies to invest a lot of money upfront. But typically such companies are buying buildings or are building out spaces for long-term tenants.\u003c/p\u003e\u003ch2\u003eSome big numbers point to WeWork's problems\u003c/h2\u003e\u003cp\u003eThat's not the case with WeWork. It owns exceedingly few of the buildings it leases out. And its tenants aren't committed for the long-term. Even after WeWork has stated to sign more large companies as tenants and pushed its members to sign longer deals, the average WeWork customer is still only committed to being in its space for 15 months.\u003c/p\u003e\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table float_right\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003eThe basic problem with WeWork's business can be seen in just two pairs of numbers:\u003c/p\u003e\u003cul\u003e\u003cli\u003e\u003cstrong\u003e $47 billion and 15 years \u003c/strong\u003e\u003c/li\u003e\u003cli\u003e\u003cstrong\u003e $4 billion and 15 months\u003c/strong\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eThe first set of numbers represent the total amount WeWork has committed to paying its landlords on its leases on into the future and the average length of time of the leases it has signed.\u003c/p\u003e\u003cp\u003eThe second set of numbers represents the commitments WeWork's tenants have made under deals they've signed with the company and the average length of time of its tenants' deals.\u003c/p\u003e\u003cp\u003eA new CEO is going to have a likely impossible time closing the gap on those numbers without either fundamentally changing WeWork's business model or dramatically scaling back not only its growth, but its current operations and lease commitments.\u003c/p\u003e\u003cp\u003eAnd there's another set of numbers that together represent a much more urgent problem than whoever's name is on the door of the CEO suite: \u003cstrong\u003e$2.5 billion and $1.5 billion. \u003c/strong\u003e\u003c/p\u003e\u003cp\u003eThe first number is the amount of cash WeWork had on hand in June. The second is the amount of cash it burned through in the first half of this year.\u003c/p\u003e\u003cp\u003eAt that pace, WeWork could be out of cash by early May. With the IPO on ice for now and, with it, a promised $6 billion credit line, WeWork's CEO is going to have to figure out how to find more money to keep the business afloat - or how to make some huge cuts to save what cash is left.\u003c/p\u003e\u003cp style=\"padding-left: 40px;\"\u003e\u003cem\u003e\u003cstrong\u003eRead this\u003c/strong\u003e: \u003ca href=\"https://www.businessinsider.com/wework-has-6-billion-incentive-to-complete-ipo-this-year-2019-9\"\u003eThere are 6 billion very good reasons for WeWork to go public this year, even though Wall Street doesn't want it\u003c/a\u003e\u003c/em\u003e\u003c/p\u003e\u003ch2\u003eWeWork needs a massive makeover\u003c/h2\u003e\u003cp\u003eWhile massive change could help WeWork stay in business, it's unclear whether the company's existing investors, such as SoftBank, can stomach such a radical overhaul. The promise of WeWork - what helped it garner a $47 billion valuation in the first place - was that it was essentially a tech company with the growth to match. Eventually - once it got big enough - it would be able to show the kinds of returns that other former money losers like Amazon now deliver.\u003c/p\u003e\u003cp\u003eRecognizing that WeWork is really in the real estate business and needs to reshape its business to focus less on tech-like growth and more on boring things like operating expenses and lease costs is certain to further depress its already deflated valuation. After all, IWG, a coworking pioneer that's around the same size as WeWork and actually profitable, trades at less than $4 billion.\u003c/p\u003e\u003cp\u003eSoftBank, which is trying to raise a second $100 billion VisionFund, is \u003ca href=\"https://www.cnbc.com/2019/09/23/weworks-future-comes-down-to-masayoshi-son-vs-adam-neumann.html\"\u003ereportedly loath to write down its investment\u003c/a\u003e in WeWork to even $15 billion or $20 billion. Taking it down even further may be out of the question.\u003c/p\u003e\u003cp\u003eMaybe another CEO, one who isn't the founder and isn't so personally tied to the company as it is, might have the kind of perspective to tackle all of WeWork's problems - how to placate investors such as SoftBank, how to get costs and revenue more in line, how to build a sustainable business.\u003c/p\u003e\u003cp\u003eBut by itself, replacing Neumann CEO doesn't solve WeWork's problems. And no one should let themselves be fooled into thinking that it does.\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eGot a tip about WeWork or another company?\u003c/strong\u003e Contact this reporter via email at twolverton@businessinsider.com, message him on Twitter \u003ca href=\"https://twitter.com/troywolv/\"\u003e@troywolv\u003c/a\u003e, or send him a secure message through Signal at 415.515.5594. You can also \u003ca href=\"https://www.businessinsider.com/how-to-tip-business-insider-securely-guide-signal-securedrop-2017-6\"\u003e contact Business Insider securely via SecureDrop\u003c/a\u003e.\u003c/em\u003e\u003c/p\u003e\u003cul class=\"read-more-links\"\u003e\u003cli\u003eRead more about WeWork and Adam Neumann:\u003c/li\u003e\u003cli\u003e\u003ca href=\"https://www.businessinsider.com/contractors-claimed-wework-ceo-adam-neumann-owed-them-1-million-2019-9\"\u003eRenovation work on WeWork CEO Adam Neumann's $10.5 million Manhattan townhome led to disputes with contractors over $1 million in alleged unpaid bills\u003c/a\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"https://www.businessinsider.com/softbanks-100-billion-vision-fund-draws-mixed-venture-industry-views-2019-9\" data-read-more-link=\"\" data-e2e-name=\"read-more-link\"\u003eVenture investors still aren't sure what to make of SoftBank's $100 billion Vision Fund. Depending on who you ask, they're either rooting for it or gleeful that it's struggling with WeWork and Uber.\u003c/a\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"https://www.businessinsider.com/softbank-is-accounting-for-a-growing-amount-of-weworks-revenue-2019-9\" data-read-more-link=\"\" data-e2e-name=\"read-more-link\"\u003e WeWork is doing increasing amounts of business with SoftBank, which is also its biggest investor\u003c/a\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"https://www.businessinsider.com/softbank-will-likely-find-investors-vision-fund-ii-despite-wework-2019-9\" data-read-more-link=\"\" data-e2e-name=\"read-more-link\"\u003e WeWork and Uber are giving SoftBank a black eye, but that doesn't mean Vision Fund II is in trouble, experts say\u003c/a\u003e\u003ca href=\"https://www.businessinsider.com/wework-3-trillion-addressable-market-grossly-overstated-experts-say-2019-9\" data-read-more-link=\"\" data-e2e-name=\"read-more-link\"\u003e\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e \u003cp class=\"tagline\"\u003e\u003ca href=\"https://www.businessinsider.com/intelligence/40-big-tech-predictions-for-2019?IR=T\u0026amp;itm_source=businessinsider\u0026amp;itm_medium=ctgr_bii\u0026amp;itm_term=ctgr_leadgen\u0026amp;itm_content=uber\u0026amp;itm_campaign=40-big-tech-predictions-for-2019-3\"\u003e\u003c/a\u003e\u003c/p\u003e","synopsis":"","updatedTime":1569273175000,"insertedTime":1569273175000,"img_Path":"/thumb/msid-71267892,width-640,resizemode-4,imgsize-73266/firing-adam-neumann-wont-solve-weworks-biggest-problem-the-underlying-business-stinks.jpg","url":"firing-adam-neumann-wont-solve-weworks-biggest-problem-the-underlying-business-stinks/articleshow/71267892.cms","slug":"enterprise/firing-adam-neumann-wont-solve-weworks-biggest-problem-the-underlying-business-stinks","category":"Enterprise","article_type":"indian"},{"title":"THE CONNECTIVITY B2B ECOSYSTEM: How 5G and next-gen networks are transforming the role telecoms play in enterprise partnerships","msid":71209604,"readingTime":2,"authorDetail":[{"author_name":"Peter Newman","author_id":45}],"body":"\u003cul class=\"summary-list\"\u003e\u003cli\u003e\u003cspan style=\"font-weight: 400;\"\u003eThis is a preview of \u003cstrong\u003e\u003cem\u003eTHE CONNECTIVITY B2B ECOSYSTEM\u003c/em\u003e\u003c/strong\u003e\u003c/span\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cstrong\u003e\u003cem\u003e \u003c/em\u003e\u003c/strong\u003eresearch report from Business Insider Intelligence.\u003c/span\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"https://www.businessinsider.com/intelligence?IR=T\u0026amp;itm_source=businessinsider\u0026amp;itm_medium=content_marketing\u0026amp;itm_campaign=report_teaser\u0026amp;itm_content=top_text\u0026amp;itm_term=bii_subscription_text_link-the-connectivity-b2b-ecosystem-report-2019-7\"\u003e14-Day Risk Free Trial: Get full access to this and all Connectivity \u0026amp; Tech research reports.\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cdiv class=\"KonaFilter image-container no-rightrail\"\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003eConnectivity is central to doing business today - enterprises rely on telecoms to connect the various sprawling parts of their businesses as they engage in digital transformation and modernize practices. It will become even more important as telecoms roll out their blazing-fast 5G networks, which enable near-instantaneous communication alongside complementary wireless protocols that let companies monitor assets scattered around the world.\u003c/p\u003e\u003cp\u003e5G and other next-generation networks can allow telecoms to become the key partner in enterprise connectivity, where they previously were one among many. But telecoms aren't uncontested in trying to take advantage of the growing opportunity in enabling enterprise transformation: Cloud, software, and technology vendors are also out for the market, setting the stage for a clash of titans between two connectivity models that will reign in different industry verticals.\u003c/p\u003e\u003cp\u003e\u003cspan\u003eIn the \u003cem\u003e\u003cstrong\u003eConnectivity B2B Ecosystem Report\u003c/strong\u003e\u003c/em\u003e, Business Insider Intelligence unpacks the enterprise telecommunications ecosystem at the cusp of the 5G era. First, we highlight the ways that companies employ telecommunications technology in business, both today and in the near future with 5G. Next, we look at the various types of companies involved in the wider ecosystem and explore the relationships between these company archetypes. Then, we examine the players involved in these relationships and look at specific efforts and initiatives that are driving change and transforming the companies involved. Finally, we look to some of the key trends that will define the next decade of B2B telecommunications.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eHere are some key takeaways from the report:\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003eNumerous multibillion dollar opportunities exist in enterprise connectivity services, including in verticals like heavy industry and manufacturing, the connected car market, and healthcare.\u003c/li\u003e\u003cli\u003eTelecoms and tech companies headline the two competing models - tech-centric and connectivity-centric - for the focal point of the data-based services that burgeoning connectivity will support.\u003c/li\u003e\u003cli\u003eAcquisitions, foundries, corporate partnerships, and developer outreach are some of the key tactics companies can explore to drive new sources of revenue in enterprise connectivity.\u003c/li\u003e\u003cli\u003eTelecoms won't attain dominance in every sector - they need to gauge their capabilities and their competition on a range of factors before deciding whether to compete in a segment.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eIn full, the report:\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003eIdentifies the key types of companies involved in the enterprise connectivity ecosystem.\u003c/li\u003e\u003cli\u003eHighlights some of the leading companies in the different segments of the ecosystem.\u003c/li\u003e\u003cli\u003eBreaks down the leading models in the connectivity space and explains what conditions should dictate how the companies involved should approach it.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cstrong\u003e\u003cem\u003eThe companies mentioned in this report are:\u003c/em\u003e\u003c/strong\u003e Amazon, Arm, Artik, Arundo Analytics, AT\u0026amp;T, C3 IoT, Cisco, Dell, Ericsson, Everactive, GE, Google, Hewlett Packard Enterprise, Hitachi, Honeywell, Huawei, IBM, Intel, MediaTek, Microsoft, Nokia, Nvidia, Oracle, Particle, PTC, Qualcomm, Salesforce, Samsung, SAP, Semtech, Siemens, Sierra Wireless, Sigfox, Splunk, Sprint, T-Mobile, and Verizon.\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eInterested in getting the full report? Here are three ways to access it:\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003col\u003e\u003cli\u003ePurchase \u0026amp; download the full report from our research store. \u0026gt;\u0026gt;\u003cstrong\u003e\u003ca href=\"https://store.businessinsider.com/products/the-connectivity-b2b-ecosystem?IR=T\u0026amp;itm_source=businessinsider\u0026amp;itm_medium=content_marketing\u0026amp;itm_campaign=report_teaser\u0026amp;itm_content=full_report_text\u0026amp;itm_term=store_text_link-the-connectivity-b2b-ecosystem-report-2019-7\u0026amp;vertical=mobile#!/\"\u003ePurchase \u0026amp; Download Now\u003c/a\u003e\u003c/strong\u003e\u003c/li\u003e\u003cli\u003eSubscribe to a Premium pass to Business Insider Intelligence and gain immediate access to this report and more than 250 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. \u0026gt;\u0026gt;\u003cstrong\u003e \u003ca href=\"https://www.businessinsider.com/intelligence?IR=T\u0026amp;itm_source=businessinsider\u0026amp;itm_medium=content_marketing\u0026amp;itm_campaign=report_teaser\u0026amp;itm_content=learn_more_text\u0026amp;itm_term=bundle_subscription_text_link-the-connectivity-b2b-ecosystem-report-2019-7\"\u003eLearn More Now\u003c/a\u003e\u003c/strong\u003e\u003c/li\u003e\u003cli\u003eCurrent subscribers can log in and read the report\u003cstrong\u003e \u003ca href=\"https://intelligence.businessinsider.com/post/the-connectivity-b2b-ecosystem-how-5g-and-next-gen-networks-are-transforming-the-role-telecoms-play-in-enterprise-partnerships-2019-6\"\u003ehere\u003c/a\u003e\u003c/strong\u003e.\u003c/li\u003e\u003c/ol\u003e\u003cp class=\"tagline\"\u003e\u003ca href=\"https://www.businessinsider.com/intelligence/connectivity-and-tech-pro?IR=T\u0026amp;itm_source=businessinsider\u0026amp;itm_medium=ctgr_bii\u0026amp;itm_term=ctgr_subscription\u0026amp;itm_content=5g\u0026amp;itm_campaign=connectivity-and-tech-pro\"\u003e\u003c/a\u003e\u003c/p\u003e","synopsis":"","updatedTime":1568919720000,"insertedTime":1568919720000,"img_Path":"/thumb/msid-71209604,width-640,resizemode-4,imgsize-49961/the-connectivity-b2b-ecosystem-how-5g-and-next-gen-networks-are-transforming-the-role-telecoms-play-in-enterprise-partnerships.jpg","url":"the-connectivity-b2b-ecosystem-how-5g-and-next-gen-networks-are-transforming-the-role-telecoms-play-in-enterprise-partnerships/articleshow/71209604.cms","slug":"enterprise/the-connectivity-b2b-ecosystem-how-5g-and-next-gen-networks-are-transforming-the-role-telecoms-play-in-enterprise-partnerships","category":"Enterprise","article_type":"indian"},{"title":"Online background check startup Checkr rakes in $160 million to help companies hire more people, faster, in an incredibly competitive labor market","msid":71204160,"readingTime":3,"authorDetail":[{"author_name":"Megan Hernbroth","author_id":45}],"body":"\u003cp\u003e\u003cdiv class=\"KonaFilter image-container display-table\"\u003e\u003cdiv\u003e\u003cdiv class=\"image\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/p\u003e\u003cul class=\"summary-list\"\u003e\u003cli style=\"font-weight: 400;\"\u003e\u003cstrong\u003eCheckr, \u003ca href=\"https://www.businessinsider.com/44-enterprise-startups-to-bet-your-career-on-in-2019-2018-12\"\u003ean online tool to conduct background checks on job candidates\u003c/a\u003e, announced Thursday it raised $160 million in Series D funding. \u003c/strong\u003e\u003c/li\u003e\u003cli style=\"font-weight: 400;\"\u003e\u003cstrong\u003eThe round was led by T. Rowe Price Associates with participation from new investors Bond Capital and Coatue Management. The round valued 5-year-old Checkr at $2.2 billion.\u003c/strong\u003e\u003c/li\u003e\u003cli style=\"font-weight: 400;\"\u003e\u003cstrong\u003eCheckr cofounder and CEO Daniel Yanisse told Business Insider that the funds will be partially used to help facilitate international expansion of Checkr's various safety and compliance tools at the behest of the startup's larger global customers.\u003c/strong\u003e\u003c/li\u003e\u003cli style=\"font-weight: 400;\"\u003e\u003cstrong\u003eYanisse also said that market conditions, \u003ca href=\"https://www.businessinsider.com/crosschq-seed-funding-ggv-linkedin-talent-monopoly-2019-8\"\u003ewith historically low unemployment but rising uncertainty\u003c/a\u003e, could prompt Checkr to create and monetize new tools to help customers cope with different economic scenarios.\u003c/strong\u003e\u003c/li\u003e\u003c/ul\u003e\u003cul class=\"summary-list\"\u003e\u003cli\u003e\u003cstrong\u003e\u003ca href=\"https://www.businessinsider.com/prime?module=article\u0026amp;area=summary\"\u003eClick here for more BI Prime stories\u003c/a\u003e.\u003c/strong\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eHiring the right employees can be a crucial \u003ca href=\"https://www.businessinsider.com/crosschq-seed-funding-ggv-linkedin-talent-monopoly-2019-8\"\u003emake-or-break moment for any company\u003c/a\u003e. And now, thanks to Checkr, it's a multi-billion-dollar business.\u003c/p\u003e\u003cp\u003eThe \u003ca href=\"https://www.businessinsider.com/44-enterprise-startups-to-bet-your-career-on-in-2019-2018-12\"\u003ebackground check software startup\u003c/a\u003e announced Thursday it raised $160 million in Series D funding, valuing the 5-year-old San Francisco startup at $2.2 billion. The round was led by T. Rose Price Associates with participation from new investors Bond Capital and Coatue management in addition to existing investors Accel, Y Combinator, and IVP.\u003c/p\u003e\u003cp\u003eCheckr's success so far comes at the intersection of two major global forces: cheap capital and historically low unemployment. While pundits and armchair economists wonder if a recession is imminent, Checkr says that it has a simple mission that can endure most any economic conditions - help companies hire more people, faster, by speeding up the process of background checks. \u003c/p\u003e\u003cp\u003e\"The more fluxes and changes there are in the workforce, the more business we will do,\" Checkr cofounder and CEO Daniel Yanisse told Business Insider. \"There will be ups and downs in the economy, but our solution is needed at all times because it is infrastructure everyone needs. We will navigate if things fluctuate, and maybe we will create new tools based on those needs.\"\u003c/p\u003e\u003cp\u003e\u003cstrong\u003eRead More: \u003c/strong\u003e\u003ca href=\"https://www.businessinsider.com/californias-gig-economy-bill-ab5-food-delivery-startups-2019-9\"\u003e\u003cem\u003eCalifornia's contractor bill was aimed at Uber and Lyft, but it could cause much bigger problems for food-delivery startups\u003c/em\u003e\u003c/a\u003e\u003c/p\u003e\u003cp\u003eTo that point, Checkr helps companies like Uber, Hot Topic, and even staffing agencies like PrideStaff quickly bring workers on board by doing the required diligence on their backgrounds. It even has a product, specifically for gig economy companies, that continously performs background checks on workers to make sure there are no new surprises. \u003c/p\u003e\u003cp\u003eCheckr is trying to find its own ways into recruiting quickly: As it grows, it needs as much talent as any other well-funded startup with big ambitions. To hire quickly, the startup has widened its recruiting drive to include candidates with a criminal record - something it has been advising its customers to consider with unemployment rates at all-time lows.\u003c/p\u003e\u003cp\u003e\"Background checks were the heart of the problem because they were used in such a binary way,\" Yanisse said. \"Opening requirements and giving people a chance even if they have a criminal record helps support the business. It's a win-win for businesses and people.\"\u003c/p\u003e\u003ch2\u003e\u003cstrong\u003eLooking beyond the early days\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003eYanisse also announced Thursday that former Zuora president Marc Diouane would join the company as chief business officer, and WeWork's former chief security officer Cory Louie would come on as chief trust and safety officer.\u003c/p\u003e\u003cp\u003e\"We've done a few fundraising events the last few years, but now we are lucky that we are in a strong position,\" Yanisse said. \"It's like gunpowder to accelerate the business even faster.\"\u003c/p\u003e\u003cp\u003eIn addition to increasing headcount, which already clocks in around 400 employees across multiple offices, Yanisse said the funds will help his team explore the possibilities of international expansion for Checkr's suite of tools and services which have only been available in North America. International capability will be available in 2020, Yanisse said.\u003c/p\u003e\u003cp\u003e\"We are past the early days and we have large customers,\" Yanisse said. \"A lot of startups only have startup customers but then it's hard to bring on Fortune 500 customers, but we've done that. A lot of large customers have a presence around the globe.\"\u003c/p\u003e","synopsis":"","updatedTime":1568898000000,"insertedTime":1568898000000,"img_Path":"/thumb/msid-71204160,width-640,resizemode-4,imgsize-86372/online-background-check-startup-checkr-rakes-in-160-million-to-help-companies-hire-more-people-faster-in-an-incredibly-competitive-labor-market.jpg","url":"online-background-check-startup-checkr-rakes-in-160-million-to-help-companies-hire-more-people-faster-in-an-incredibly-competitive-labor-market/articleshow/71204160.cms","slug":"enterprise/online-background-check-startup-checkr-rakes-in-160-million-to-help-companies-hire-more-people-faster-in-an-incredibly-competitive-labor-market","category":"Enterprise","article_type":"indian"}],"trendingKeywordsData":[{"title":"Chhath Puja 2024 Wishes","url":"/thelife/article/happy-chhath-puja-2024-heartfelt-wishes-messages-and-status-updates-to-share-on-whatsapp-and-facebook/articleshow/114969343.cms"},{"title":"Bank holidays in India","url":"/personal-finance/bank-holidays"},{"title":"ChatGPT will let you create images for free","url":"/tech/news/chatgpt-will-let-you-create-images-for-free-like-microsofts-copilot-and-googles-gemini-but-there-is-a-catch/articleshow/112399861.cms"},{"title":"Should the government give freebies to the poor?","url":"/policy/economy/article/universal-basic-income-should-the-government-give-unconditional-money-or-freebies-to-the-poor/articleshow/112188407.cms"},{"title":"World’s most powerful passports","url":"/travel/news/worlds-most-powerful-passport-singapore-reigns-supreme-with-195-visa-free-destinations-heres-where-india-ranks/articleshow/111984495.cms"},{"title":"Jio vs Airtel vs Vi Prepaid Plans","url":"/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms"}],"buyingGuidesData":[{"title":"Best printers for Home","url":"/tech-buying-guides/best-wi-fi-routers-for-home-in-india-in-2020/articleshow/77277860.cms"},{"title":"Best Mixer Grinder","url":"/insider-reviews/best-mixer-grinders-for-home-in-india/articleshow/77776473.cms"},{"title":"Best wired Earphones","url":"/tech-buying-guides/best-wired-earphones-with-mic-for-smartphones/articleshow/77526460.cms"},{"title":"Best 43 Inch TV in India","url":"/tech-buying-guides/best-43-inch-tvs-for-home-in-india/articleshow/77714137.cms"},{"title":"Best Wi Fi Routers","url":"/tech-buying-guides/best-wi-fi-routers-for-home-in-india-in-2020/articleshow/77277860.cms"},{"title":"Best Home Theatre in India","url":"/tech-buying-guides/best-home-theatre-systems-in-india/articleshow/77787450.cms"},{"title":"Smart Watch under 5000","url":"/tech-buying-guides/best-smartwatch-under-5000-in-india/articleshow/83718118.cms"},{"title":"Best Laptops for Education","url":"/tech/news/best-intel-laptops-for-education/articleshow/94484646.cms"},{"title":"Best Laptop for Students","url":"/tech/news/best-laptop-for-school-students/articleshow/94484815.cms"}],"pageType":"Articlelist page","userCookies":{"deviceid":"","geo_country":"","geo_region":"","_grx":"","Usercookie":{},"UserDetail":{},"loginStatus":"NONLOGGEDIN"},"metaInfoSSR":{"articleURL":"/enterprise","currentTitle":"Enterprise Stories, News, Articles, Videos, Slideshows and Web Stories","currentDescription":"Enterprise stories, news, articles, videos, slideshows, images, and web stories. 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