USA Technologies issued an open letter on Monday (January 14) to shareholders, admitting that the company “had prematurely or inappropriately recognized revenue” in 2017 and 2018. The self-service retail market payment technology service provider’s CEO, Stephen P. Herbert, wrote that the “Audit Committee, with the...
Stocks for Alibaba, China’s eCommerce giant, are down 1.7 percent after the president of the company admitted that China’s consumer market is slowing down, according to reports. “This is a market that requires patience,” said Alibaba President J. Michael Evans on Monday (Jan. 14),...
Immersive Labs, the cybersecurity skills platform company, announced Monday (January 14) that Goldman Sachs led an $8 million investment round in the company. In a press release, Immersive Labs said the Series A investment round also included participation from smaller private investors. The funding will...
Akulaku, a FinTech lending company, has received $40 million in funding from Ant Financial. The funding gives Akulaku, which does most of its business in Indonesia but recently expanded into Vietnam and the Philippines, a $450 million valuation, according to Deal Street Asia. Just a...
Slack Technologies, a popular workplace messaging app, is said to be considering going public through a direct listing, as opposed to a traditional IPO. The Wall Street Journal reported that the company would be the second big-name tech company to do so, following in the...
In the midst of an economically uncertain time in China stemming from the trade war with the U.S., Xiaomi said it will invest at least 10 billion yuan ($1.5 billion) in artificial intelligence and Internet of Things (IoT) smart devices over the next five years....
Bukalapak, an online marketplace company from Indonesia, will soon announce a new round of funding, according to reports. Naver Corp. is said to be one of the investors, as well as Ant Financial, which is the finance arm of Alibaba. Ant Financial already holds a...
The food delivery space keeps heating up — the latest news is that Postmates has scored a $100 million investment in advance of its initial public offering (IPO), expected with the first six months of 2019. And the coming months promise to bring more heat...
In a move that could bring in as much as $1 billion in funding, facial recognition firm Megvii is reportedly mulling an initial public offering (IPO). Sources, however, said that the idea is still in its beginning stages and the plan is not set in...
