Tag Archive for: IPO

In Battle of Ransomware Protectors, One Firm Burns a Lot of Cash, Another Preps an IPO — The Information

/in


Four years ago, one of the most intense battles in enterprise software was underway between two startups led by former colleagues: Rubrik and Cohesity. They help businesses manage data, and they also market themselves as offering protection against ransomware attacks. At the time, Rubrik was clearly in the lead, but Cohesity was growing faster and gaining on it.

Times have changed. By one measure—closeness to going public—Rubrik appears to be well ahead of Cohesity. Rubrik recently hired bankers to help it go public, according to people familiar with the matter. Cohesity still intends to go public, executives told staffers at a town hall meeting earlier this month. But the company’s losses may delay that.

Source…

Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

/in



By

Source…

TMS Ep138: Oscars for OTT, Baroda BNP Paribas Mutual Fund, IPO, ransomware

/in


Last year, pandemic forced the Academy to take a serious note of movies that made their debut on streaming platforms. And this year, streamer achieved another feat by scooping the best movie award, apart from over 35 nominations. But, back home in India, OTT’s future is clearly linked to vernacular programms and films. OTT’s future in India indeed depends on its capability to churn out good programs in local languages. Let us now move on to Baroda BNP Paribas Mutual Fund created recently by the merger of Baroda Mutual Fund and BNP Paribas Mutual Fund. Its CEO Suresh Soni spoke to Business Standard’s Krishna Veera Vanamali on the markets, the mutual fund industry and what the merged entity stands for. Not just the mutual funds, this financial year was exceptionally good for markets too. 52 Indian companies raised an all-time high of Rs 1.1 trillion through initial public offers.

And the next fiscal year may well break this record too. The government plans to launch the mega IPO of LIC soon. Get a quick check on what’s in store for the primary markets in FY23. It’s not just the stock exchanges, but companies listed there, people, organizations, the government departments etc. are always on the guard against malwares. And, of the lot, ransomware is among the most notorious. Through this, hackers take control of all the data in the system and release them at a price. This podcast shares more about the growing menace.

Watch video

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have…

Source…

SenseTime heads for IPO on Hong Kong exchange

/in


Artificial intelligence updates

The Chinese artificial intelligence start-up SenseTime is going public in Hong Kong, even as mainland peers pull their stock market listing plans in response to Beijing’s widening crackdown on the technology sector. 

The company, whose backers include SoftBank, Alibaba, Tiger Global and Silver Lake, filed documents for an initial public offering on the Hong Kong exchange late on Friday. SenseTime did not indicate how much money it intended to raise but it is one of the world’s most valuable AI start-ups.

SenseTime last raised funds at a valuation of more than $8bn last year, said two people familiar with the matter, but its valuation is now closer to $12bn, one of the people said. 

Despite being blacklisted by Donald Trump’s administration in 2019, SenseTime’s business has grown significantly in the past few years. It is one of the key companies in China’s burgeoning AI industry, a critical facet of President Xi Jinping’s “Made in China 2025” blueprint. 

In the filing, the company said its 2020 revenue rose 14 per cent to Rmb3.4bn ($525m), while revenues for the first half of 2021 grew 92 per cent on the same period last year to Rmb1.6bn. Operating losses grew 13 per cent to Rmb1.8bn in 2020, and losses for the first six months of this year totalled Rmb2.1bn. 

SenseTime’s move comes as China’s regulators have cracked down on the technology sector this year, an assault that has targeted consumer tech including ecommerce, food delivery, lending and gaming companies. 

Cloud Village, China’s second-largest music streaming service, this month scrapped a $1bn IPO in Hong Kong over concerns about the growing regulatory crackdown.

However, AI, as well as the biotechnology and semiconductor industries, has received huge support from Beijing. China’s leader regards companies in this sector as crucial to cutting reliance on US technology and solidifying the nation’s reputation as a tech hub within its own right. 

SenseTime is known for its computer vision technology, which allows machines to analyse visual data. Its facial…

Source…