Finance

  • Paytm Acquires Personal Assistant App Shifu To Improve Its Artificial Intelligence Tech

    Paytm Acquires Personal Assistant App Shifu To Improve Its Artificial Intelligence Tech

    Paytm, the Indian mobile commerce company backed by Alibaba, announced today that it has acquired Shifu, a personal assistant app for smartphones. The value of the deal was not disclosed, but Paytm senior vice president Kiran Vasireddy confirmed that it is close to the $8 million reported by new outlets like the Times of India. Read More

  • Recognizing Probabilities In Budgeting And Forecasting Crunch Network

    Recognizing Probabilities In Budgeting And Forecasting

    Based on practical experience with hundreds of early stage companies over many years, we generally recommend the following budgeting best practices. We call it the Bessemer Optimal Budget, and it involves explicitly recognizing probabilities in budgeting and forecasting. Read More

  • Samsung Pay Will Launch Online Payments In the U.S.

    Samsung Pay Will Launch Online Payments In the U.S.

    Samsung Pay plans a major expansion in the United States next year. Users will be able to make purchases on websites with Samsung Pay, which puts it into more direct competition with services like Paypal, Reuters reports. The mobile wallet platform will be also available on lower-end Samsung smartphones, not just flagship models like the Galaxy S6 Edge. Read More

  • Can Fintech Fix Financial Services? Crunch Network

    Can Fintech Fix Financial Services?

    A review of the new Michael Lewis movie The Big Short describes a scene during the 2008 financial crisis in which renters were “kicked out of their homes because their landlord didn’t pay the mortgage, even though they were making their rent payments in full.” It serves as one of many examples of how our malfunctioning financial system produces fundamentally unfair outcomes. Read More

  • Three Ways To Stay Current In The Financial Services Industry Crunch Network

    Three Ways To Stay Current In The Financial Services Industry

    The financial services industry is a cutthroat market with razor-thin margins, making it one of the toughest industries in which to generate profit. Yet, for fintech startups, it is one of the least chartered, most lucrative sectors. Accenture recently reported that fintech investments grew 201 percent in 2014 compared to the previous year. As a comparison, overall venture capital investments… Read More

  • 9 Of The Worst Performing Tech Stocks In 2015

    Who said making money in the stock market is easy? In a year the market was essentially flat, a few tech stocks had a really tough time staying afloat. Companies like Twitter, Groupon, and Yahoo all suffered at the hands of the public markets. Click through to read about nine of the worst performing public technology companies of 2015. And, check out part one which highlighted some of… Read More

  • Toshiba To Cut 7,800 Jobs, Forecasts Record $4.5 Billion Loss

    Toshiba To Cut 7,800 Jobs, Forecasts Record $4.5 Billion Loss

    Just in time for CES, consumer electronics giant Toshiba announced another wave of layoffs. This time, the company plans to axe 6,800 jobs in the consumer electronics business. It represents around 30 percent of the consumer electronics division, or 3 percent of Toshiba’s workforce. In addition to these cuts, 1,000 people in the corporate staff will also lose their job as part of an… Read More

  • Following Patent Deal, Every Time Apple Sells An iPhone, Ericsson Gets A Bit Of Money

    Following Patent Deal, Every Time Apple Sells An iPhone, Ericsson Gets A Bit Of Money

    Telecommunications infrastructure company Ericsson just announced that it has reached an agreement with Apple over an ongoing patent dispute. For the next seven years, Apple will pay a fraction of its iPhone and iPad profit to Ericsson in royalties. Read More

  • Israel’s Flourishing Fintech Has Many Fathers Crunch Network

    Israel’s Flourishing Fintech Has Many Fathers

    Israeli finance technology has taken giant leaps in the last few years. Hundreds of local startups are developing new technologies for payment and security solutions, and multinational companies and banks are flocking to Israel for a piece of the action. Much like other tech sectors in Israel, the country’s fintech know-how is largely a byproduct of innovations in other fields, such… Read More

  • Dell Subsidiary SecureWorks Files To Go Public, Shows Ramping Losses

    Dell Subsidiary SecureWorks Files To Go Public, Shows Ramping Losses

    Today Dell subsidiary SecureWorks filed to go public, showing expanding revenue, and ramping losses. Dell, then a public company, acquired SecureWorks in 2011 for a reported $612 million. TechCrunch reported in October that SecureWorks had filed for an IPO privately. The company’s S-1 filing, released today, fits into that timing. Before we get into the numbers, keep in mind the… Read More

  • 9 Of The Best Performing Tech Stocks In 2015

    In a year when the stock market has essentially been flat, a few tech companies have killed it on the public markets. Companies like Facebook, Amazon, and Netflix created tremendous shareholder value this year, and their public market valuations are showing it. Click through to read about nine of the best performing public technology companies of 2015. And, stay tuned for the next… Read More

  • Yelp Shares Are Not Having A Good Year

    Yelp Shares Are Not Having A Good Year

    The year has not been kind to Yelp shareholders. On the year, shares of Yelp have tanked around 50 percent. Today wasn’t an exception, with shares of the company down more than 9 percent. That big swing today comes on the heels of a new way of finding top-rated local businesses through Facebook cropped up on the Internet. Read More

  • Easy Taxi And Tappsi Merge To Try To Run Uber Off The Road In LatAm

    Easy Taxi And Tappsi Merge To Try To Run Uber Off The Road In LatAm

    Rocket Internet-backed Easy Taxi is joining forces with Colombian taxi app startup Tappsi in a merger the pair will be hoping helps them keep accelerating ahead of Uber, which only has a limited presence in the region. Read More

  • Bitcoin Hits Highest Levels Since Late 2014

    Bitcoin Hits Highest Levels Since Late 2014

    After a mostly boring 2015, bitcoin is making waves as the year ends by reaching new price heights. Bitcoin is north of the $400 mark, once again, for the second time since 2014. This time, it has surpassed a prior boomlet, reaching price points not seen since late summer last year. Read More

  • Families Get Screwed Sending Dollars To Mexico. TransferWise Does It 4X Cheaper

    Families Get Screwed Sending Dollars To Mexico. TransferWise Does It 4X Cheaper

    Money transfers are a crooked racket. They’re designed to hide just how much cash they steal from immigrant workers sending funds to family back home. Western Union, Moneygram, even PayPal’s Xoom trumpet that they only charge around $5, but quietly pocket people’s money by setting their own unfair exchange rate. TransferWise wants to put an end to all this bullsh*t. Today the… Read More

  • J.P. Morgan, OnDeck And The Future of Alternative Lending Crunch Network

    J.P. Morgan, OnDeck And The Future of Alternative Lending

    Earlier this month, J.P. Morgan announced a strategic partnership with OnDeck Capital to originate, underwrite, and distribute loans targeted specifically at small businesses. As evidenced by a 28% single-day spike in OnDeck’s share price, this announcement clearly is a big deal to one of the leading FinTech companies today, and has major implications for the future of alternative lending. Read More

  • Worst Year For Tech IPOs Since 2009

    Worst Year For Tech IPOs Since 2009

    With just 28 technology companies entering the U.S. public markets, 2015 was the worst year for IPOs since 2009, according to Dealogic. This compares to 62 last year and 48 the year before, with 131 “unicorns” opting to remain private longer. “We haven’t seen so few tech IPOs since the 2008-09 U.S. financial crisis,” notes Kathleen Smith, principal at IPO ETF… Read More

  • Fintech’s Five Emerging Powerhouse Markets Are At A Crossroads Crunch Network

    Fintech’s Five Emerging Powerhouse Markets Are At A Crossroads

    Accenture has warned local banking communities in Asia to wake up: It took just nine months for investment in the region’s non-banking fintechs to quadruple from 2014’s $880 million to $3.5 billion. While in developed markets, fintech disrupts financial models by exploiting service gaps between provider and consumer, in emerging markets, fintech is on its way to becoming the… Read More

  • Augmented Reality Company Magic Leap Raising $827 Million

    Augmented Reality Company Magic Leap Raising $827 Million

    According to a report by Forbes, the under-the-radar but much discussed startup is raising a $827 million C round of funding. Magic Leap’s product seems to be a cross between Microsoft HoloLens and the Oculus Rift, shown here in this demo from October. Read More

  • Airbnb Confirms Its Massive $1.5 Billion Raise

    Airbnb Confirms Its Massive $1.5 Billion Raise

    Back in June, the WSJ reported that Airbnb had raised a massive $1.5 billion round of funding. Today, the company confirmed those reports by way of an SEC filing. The total offering and sold amount is $1,499,937,904.00 for those keeping score. Read More

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