Tag: Investments

Okta Says It’s Buying Security Rival Auth0 For $6.5 Billion

Okta, whose cloud software allows office workers to access all of their apps through a secure online service, said on Wednesday that it’s spending $6.5 billion to acquire rival Auth0. CNBC reports: Okta’s shares plunged about 13% in extended trading after the announcement. The all-stock deal equals about 21% of Okta’s market cap as of Wednesday’s close. Okta said it expects…

The Secret, Essential Geography of the Office

A workplace has its own informal cardinal directions: elevatorward, kitchenward, bathroomward. It’s a map we share. From an essay: I love visiting offices, listening to their hum. Literally: I sometimes went to a giant financial firm where they traded different kinds of securities on different floors, and if it was a big day in bonds the fourth floor would be loud,…

How Bill Gates Is Funding the Fight Against Climate Change

Bill Gates was interviewed tonight on the CBS News show 60 Minutes about his efforts to combat climate change: The good news is Gates believes it’s possible to prevent a catastrophic rise in temperatures. The bad news? He says in the next 30 years we need scientific breakthroughs, technological innovations and global cooperation on a scale the world has never seen….

Miami City Council Agrees to At Least Study Mayor’s Bitcoin Proposal

Miami’s mayor Francis Suarez is trying to attract tech talent to his city. (The New York Times recently noted he’s joined by “a few venture capital influencers trying to tweet the city’s startup world into existence.”) So he’s still pushing a proposal to use bitcoin in a few city operations as “part of a larger play if you will to position…

Canadian Regulator Clears Launch of World’s First Bitcoin ETF

Canada’s main securities regulator has cleared the launch of the world’s first bitcoin exchange traded fund, an investment manager said on Friday, providing investors greater access to the cryptocurrency that has sparked an explosion in trading interest. Reuters reports: The Ontario Securities Commission has approved the launch of Purpose Bitcoin ETF, Toronto-based asset management company Purpose Investments Inc. said in a…

23andMe Is Going Public As It Pushes Further Into Healthcare

23andMe is becoming a publicly-traded company through a merger with Virgin’s VG Acquisition. Engadget reports: The deal values 23andMe at about $3.5 billion and should give the company the finances it wants to boost its personal healthcare and therapeutics plans. It should have over $900 million in cash, for instance. The merger is expected to close in the second quarter of…

Microsoft Backs Direct Air Capture Player Climeworks

Microsoft this morning disclosed investments in more climate-related companies as part of efforts to make good on its year-old pledge to become “carbon negative” by 2030. From a report: One company the tech behemoth is staking is Climeworks, a firm looking to scale up deployment of direct air capture technology that removes CO2 already in the atmosphere. The size of the…

Google To Open Up Its Office Facilities for COVID-19 Vaccine Clinics

Google CEO Sundar Pichai on Monday said the company will make its office facilities available for COVID-19 vaccination clinics, as tech giants aim to speed up distribution efforts in the US. From a report: The company said it’s partnering with the health care provider One Medical for the clinics, which will be opened “as needed” at Google buildings, parking lots and…

Spotify’s Big Bet On Podcasts Is Failing, Citi Says

An anonymous reader quotes a report from CNBC: Spotify’s multimillion-dollar bet on podcasting may not be working out, Citi analysts wrote in a note to clients Friday. “The cadence of Premium gross additions (through 3Q20) and app download data (through 4Q20) do not show any material benefit from recent podcast investments (that began in 2019),” the analysts wrote. The firm downgraded…