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A News Digest on Fitness App, Cloud Services, Business Digital Transformation

  • 3-4 min read
  • August 11, 2021
  • 👍 Rating — 5 (4 votes)

Discord
Discord is considered a strategic asset, as it connects game companies with their biggest fans in audio and text chat communities. The game market is amok with plans and calculations right now. If Roblox is worth $42 billion in its public offering, the thinking goes, then such and such must be worth so much. Roblox had a successful public offering on March 10 that leaves the window open for other companies that are trying to maximize their value, either through acquisitions or the stock market. Discord may be a test as to whether or not another company with communications technology can follow in Roblox’s recent footsteps, and rumors often swirl about a possible IPO. The Wall Street Journal reported earlier this month that in 2020 Discord generated $130 million in revenue, up from nearly $45 million in 2019. In that sense, Discord was similar to many other game companies that saw huge gains during the pandemic when everyone was in lockdown. The Wall Street Journal Report
Peloton
Fitness company Peloton has recently acquired three startups, gaining expertise in wearable devices, voice assistants, and interactive workout mats The company quietly purchased Atlas Wearables, Otari and Aiqudo Aiqudo built an AI-powered digital voice assistant that lets developers add voice actions to apps and devices. Atlas Wearables made fitness-oriented smartwatches that guide users through workouts and gauge performance, while Otari created an interactive workout mat with its own screen. The deals give Peloton technology to potentially build new hardware and services, expanding on its bikes, treadmills, and existing software. The deals could help the company offer its own digital voice assistant, for instance. The engineers who joined from Atlas Wearables and Otari say on their LinkedIn profiles that they are focusing on AI and computer-vision technology. Bloomberg
Box Inc
U.S. cloud services provider Box Inc explores sale amid pressure from Starboard – sources Founded in 2005, Box’s offering includes file sharing, cloud storage, and cloud backup. Demand for secure file-sharing and other workplace collaboration services has risen since the onset of COVID-19, driven by the information technology needs of companies whose employees are working from home. While Box has benefited from this trend, it has struggled to fully capitalize on it, as some of its services and products are offered by competitors such as Microsoft Corp either for free or at a lower cost. https://reut.rs/31fnlDP
Synnex Corp
The merger comes less than a year after Apollo Global Management took Tech Data private in a $6 billion deal, at a time when both Synnex and Tech Data benefited from the pandemic-driven accelerate Synnex shareholders will own about 55% of the combined company, which expects to generate $57 billion in estimated annual revenue, while Apollo will own the rest and take four board seats after the deal closes in the second half of 2021. Apollo will receive 44 million shares of Synnex common stock, and the refinancing of existing Tech Data net debt and redeemable preferred shares of about $2.7 billion. Tech Data approached Synnex late last year following Synnex’s spinoff of its customer experience division Concentrix Corporation, according to a source familiar with the situation. With more than 22,000 employees, the combined company will operate in more than 100 countries on digital transformation as more people working from home. Reuters.com/article/synnex-corp-to-merge-with-tech-data-in-7-2-billion-deal
Feedzai
Financial technology group Feedzai said on Wednesday it had raised $200 million in a round led by investment company KKR valuing the startup at more than $1 billion. Existing investors, including Sapphire Ventures and Citi Ventures, also participated in the round, the San Mateo, California-headquartered company said.
Feedzai develops artificial intelligence and machine learning technology that helps banks and other financial firms to spot and prevent payments fraud, money laundering, and other types of illicit activities.
The company, whose engineering and product operations are based in Portugal, will use the money to speed up its global expansion and expand its product range, it said.
The use of digital banking and payments is booming globally, in part due to the coronavirus pandemic which has led both consumers and businesses to conduct more activities online. https://reut.rs/3cdjSfs

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