Slack sold to business software giant for $27.7bn



a screen shot of a video game


© Reuters


Salesforce has agreed to buy workplace messaging app Slack for $27.7bn (£20bn) in what would be one of the biggest tech mergers in recent years.

Marc Benioff, boss of the business software giant, called the deal a “match made in heaven”.

He has been pushing to expand the company’s software offerings and fend off rivals such as Microsoft.

The acquisition comes as the pandemic has increased the focus on remote work and tools, like Slack, which enable it.

Tech analyst Dan Ives of Wedbush Securities called it a “now or never” purchase for Mr Benioff.

“If Salesforce wants to expand beyond its core gold mine of sales and marketing departments … this was the moment and thus represents a major shot across the bow against Microsoft,” he wrote in a note to investors after the deal was announced.

Slack, founded in 2009, has won a following with its

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S&P Nears $44 Billion IHS Markit Deal to Build Data Giant

(Bloomberg) — S&P Global Inc. is in advanced talks to buy IHS Markit Ltd. for about $44 billion, a deal that would accelerate the wave of consolidation among Wall Street’s biggest data providers.

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An announcement could come as early as Monday, according to a person familiar with the matter, who declined to be identified because the information isn’t public. IHS Markit was valued at $36.9 billion at the close of New York trading on Friday, after climbing to a record earlier in the week. S&P has a market capitalization of $82 billion after climbing 25% in New York this year.

The proposed tie-up of S&P with IHS Markit, a research firm with more than 5,000 analysts, data scientists, financial experts and industry specialists, is part of a race for scale as the industry’s largest players try to capitalize on surging demand for data and analytics in increasingly computerized

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Bitcoin Investigation Giant To Raise $100 Million At $1 Billion Valuation

A new bitcoin unicorn is about to be born. After days of rumors flying around the cryptocurrency industry, investigation firm Chainalysis confirmed exclusively to Forbes it expects to raise $100 million venture capital at a $1 billion valuation as soon as next week. Led by Tiger Global alum Lee Fixel’s newly founded venture capital firm, Addition, the Series C round is expected to be joined by previous investors Accel, Benchmark, and Ribbit.

Though Chainalysis CEO and co-founder Michael Gronager declined to share the actual revenue generated by the firm, Forbes estimates it made $8 million in 2018, and Gronager says its revenue increased by about 96% over the past year. With revenue expected to double next year and again in 2022, the investment is further evidence there’s more money to be made in crypto than by just buying low and selling high.

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Video Giant Joyy Dives After Muddy Waters Labels It a Fraud

(Bloomberg) — Joyy Inc.’s shares tumbled the most ever after short-seller Muddy Waters called it a “fraud tech company,” casting doubt over a pioneer of Chinese livestreaming that’s selling its local video business to Baidu Inc.

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Muddy Waters Research founder Carson Block said Joyy’s livestreaming service YY is “guilty of bot forming, creating fake transactions and having fake users.” The report, published Wednesday, came days after Baidu agreed to buy YY for $3.6 billion. Baidu representatives had no immediate comment. Joyy fired back on Thursday, saying the report was replete with errors and demonstrated a lack of understanding of the industry.

In a 71-page report, Muddy Waters alleged evidence of revenue inflation: livestreamers who got paid during long periods of absence or inactivity; mis-matches with local credit reports it obtained; and payments originating from company servers. Muddy Waters also said it holds a short position in Joyy, meaning

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George Soros buys stake in big data giant Palantir

Two heavy hitters of the investment world recently bought stakes in Palantir, the secretive and controversial big data firm backed by Peter Thiel that began trading on Wall Street in September.



George Soros wearing a suit and tie: Hungarian-born US investor and philanthropist George Soros delivers a speech on the sideline of the World Economic Forum (WEF) annual meeting, on January 23, 2020 in Davos, eastern Switzerland. (Photo by Fabrice Coffrini/AFP/Getty Images)


© Fabrice Coffrini/AFP/Getty Images
Hungarian-born US investor and philanthropist George Soros delivers a speech on the sideline of the World Economic Forum (WEF) annual meeting, on January 23, 2020 in Davos, eastern Switzerland. (Photo by Fabrice Coffrini/AFP/Getty Images)

Soros Fund Management, run by billionaire investor and philanthropist George Soros, and Third Point, the firm led by occasional activist investor Dan Loeb, both disclosed late Friday that they own shares of Palantir.

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Soros Fund Management acquired 18.5 million shares of Palantir while Third Point took a more modest position of 2.4 million shares.

The Soros investment was worth about $175.3 million, according to a filing with the Securities and Exchange Commission. That works out to a purchase price

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Doctor Who’s sonic pioneers to turn internet into giant musical instrument

The Radiophonic Workshop has always broken new sonic ground, from the Doctor Who theme to the Hitchhiker’s Guide to the Galaxy. Now they’re at it again – this time using the internet as a musical instrument.

A performance of Latency will take place at a special online event on 22 November using a technique inspired by lockdown Zoom calls. The band includes composers from the original BBC Radiophonic Workshop, which created soundtracks for most BBC shows from the 60s to the 90s and influenced generations of musicians from Paul McCartney, Pink Floyd and Mike Oldfield to Aphex Twin, Orbital and Mary Epworth.

“The idea [of playing the internet] reflected our time,” said workshop member Peter Howell. “We’re all subject to the internet now in a way that we never thought we would be. And Bob and Paddy came up with an idea that is literally using what we’re all

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Doctor Who’s sonic pioneers to turn internet into giant musical instrument | Music

The Radiophonic Workshop has always broken new sonic ground, from the Doctor Who theme to the Hitchhiker’s Guide to the Galaxy. Now they’re at it again – this time using the internet as a musical instrument.

A performance of Latency will take place at a special online event on 22 November using a technique inspired by lockdown Zoom calls. The band includes composers from the original BBC Radiophonic Workshop, which created soundtracks for most BBC shows from the 60s to the 90s and influenced generations of musicians from Paul McCartney, Pink Floyd and Mike Oldfield to Aphex Twin, Orbital and Mary Epworth.

“The idea [of playing the internet] reflected our time,” said workshop member Peter Howell. “We’re all subject to the internet now in a way that we never thought we would be. And Bob and Paddy came up with an idea that is literally using what we’re all

Read More

Delivery giant DoorDash files paperwork to offer public stock

DoorDash says it has captured 50% of the food delivery market in the U.S., leading Uber Eats, Grubhub and Postmates in the space

Delivery giant DoorDash Inc. is planning to sell its stock to the public, capitalizing on the growing trend of consumers embracing app-based deliveries as much of the world stays home during the pandemic.

The San Francisco-based company filed papers signaling its intent for initial public offering Friday.

“Technology has changed consumer behavior and driven a wave of demand for convenience,” the company said in its prospectus. “Recent events have further accelerated these trends, pulling the future of e-commerce forward for businesses large and small.”

Its revenues reflect the explosion in demand for delivery. Last year, DoorDash generated $885 million in revenue. During the first nine months of 2020, revenue more than doubled that to $1.9 billion. It was already growing before the pandemic. In 2018 it brought

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Delivery giant DoorDash plans IPO

NEW YORK (AP) — Delivery giant DoorDash Inc. is planning to sell its stock to the public, capitalizing on the growing trend of consumers embracing app-based deliveries as much of the world stays home during the pandemic.

The San Francisco-based company filed papers signaling its intent for initial public offering Friday.

“Technology has changed consumer behavior and driven a wave of demand for convenience,” the company said in its prospectus. “Recent events have further accelerated these trends, pulling the future of e-commerce forward for businesses large and small.”

Its revenues reflect the explosion in demand for delivery. Last year, DoorDash generated $885 million in revenue. During the first nine months of 2020, revenue more than doubled that to $1.9 billion. It was already growing before the pandemic. In 2018 it brought in $219 in revenue.

But DoorDash has lost money each year since its founding and the company warned potential

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Amazon worker who was fired after leading COVID-19 safety protest files lawsuit against tech giant

Amazon Walkout; Chris Smalls
Amazon Walkout; Chris Smalls

Chris Smalls, a former Amazon employee who was fired in March after staging a small walkout over conditions, speaks during a protest of working conditions outside of an Amazon warehouse fulfillment center on May 1, 2020 in the Staten Island borough of New York City. People attending the protest are concerned about Amazon’s handling of the coronavirus and are demanding more safety precautions during the pandemic. Stephanie Keith/Getty Images

This article originally appeared here on Salon.com

Chris Smalls, a former Amazon worker who made headlines for organizing a walkout over working conditions at an Amazon fulfillment center in Queens, N.Y., is suing the tech giant that fired him, Smalls believes, for organizing workers. 

The class action suit filed in Brooklyn claims that Amazon violated federal and state laws due to the company’s failure to provide adequate COVID-19 protections, specifically to Black and other minority workers. Smalls,

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