Duncan Riley
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Uber books $2.9B loss but shares rise as customer volume edges up
Uber Technology Inc. shares rose in after-hours trading today despite the company reporting its biggest loss in three quarters. The upside came after Chief Executive Officer Dara Khosrowshahi (pictured) told investors that riders were starting to return to the service and that its Uber Eats division continues to boom. For the quarter ended March 31, Uber reported ...
Electric scooter company Lime raises $170M in round led by Uber
Electric scooter company LimeBike Inc. today said it has raised $170 million in new funding led by Uber Technologies Inc. The round also included Alphabet, Bain Capital Ventures, GV and other existing and new investors. The valuation on the round was not officially disclosed but was recently reported to be $510 million, down 79% from its $2.4 billion valuation ...
Facebook software change breaks popular iOS apps such as Spotify and TikTok
An issue in the code of Facebook Inc.’s software development kit caused dozens of popular iOS apps to crash Wednesday night. The SDK is used by various apps to allow users to login using their Facebook account as well as providing support for Facebook advertising. When Facebook updated its SDK for iOS Wednesday night, the ...
Europe’s largest private hospital operator Fresenius hit by ransomware
Fresenius SE & Co. KGaA, Europe’s largest private hospital operator, has been hit by ransomware that has limited the use of some of its systems as it treats COVID-19 patients. The company, which also holds a 40% share of market for kidney dialysis in the U.S. — COVID-19 patients sometimes suffer kidney failure and require ...
Lyft shares surge as ride-hailing firm beats earnings predictions
Lyft Inc. shares surged in after-hours trading today after the ride-hailing company reported higher-than-expected rider numbers despite the global COVID-19 pandemic. For the first quarter ended March 31, Lyft reported revenue rose 23%, to $955.7 million, from the first quarter of 2019. Analysts had been predicting revenue of $893 million. Net loss for the quarter ...
Libra appoints former Bush and Obama under secretary Stuart Levey as its first CEO
The Libra Association, the group set up to manage Facebook Inc.’s proposed cryptocurrency, today appointed Stuart Levey as its first chief executive officer. Levey (pictured, left), was under secretary of the Treasury for terrorism and financial intelligence during the Bush and Obama administrations and more recently chief legal officer of HSBC Holdings plc. “Stuart brings to ...
Square shares drop while PayPal surges as both deliver mixed earnings
Financial technology giants Square Inc. and PayPal Holdings Inc. delivered mixed results in their quarterly earnings reports today as the global COVID-19 pandemic shifts consumer spending. Square saw its share price drop 4% in after-hours trading as investors were generally not happy with the company’s earnings report. PayPal, by comparison, rose 8.5%. For the quarter ...
Venture capital firm Runa Capital closes third fund with $157M
Venture capital firm Runa Capital revealed today that it has raised $157 million for its Runa Capital Fund III, oversubscribed by $22 million over its initial goal of $135 million. Founders of current and previous portfolio companies, including Nginx, Brainly, Ecwid, Final and Rocketbank, invested in the fund. Founded in 2010, Runa Capital primarily invests in early-stage companies ...
Artificial intelligence robotics startup Covariant raises $40M
Artificial intelligence robotics startup Covariant revealed today that it has raised $40 million in new funding to allow it to accelerate its partnerships, introduce AI robotics to new industries and hire more people. The Series B round was led by Index Ventures and Radical Ventures and included participation from Amplify Partners. Mike Volpi, a partner ...
28,000 web hosting accounts exposed in GoDaddy data breach
GoDaddy Inc. has suffered a data breach affecting the web hosting accounts of 28,000 customers. The data breach involved an unknown person accessing accounts using Secure Shell or SSH cryptographic network protocol in October. It was only discovered late last month when GoDaddy noticed suspicious activity on several servers. Affected customers have had their hosting account ...