NEW YORK (Reuters) -Business software firm Freshworks, which counts Accel and Sequoia Capital among its major backers, on Tuesday priced its U.S. initial public offering (IPO) well above the target range to raise $1.03 billion, a source familiar with the matter said.
Freshworks priced 28.5 million shares at $36 per share, the source said, requesting anonymity as the talks are confidential. The IPO valued Freshworks at $10.13 billion.
The company had earlier expected to raise $969 million at the top end of its new price range of $32 to $34 per share, up from $28 to $32 per share previously.
Freshworks did not immediately respond to a request for comment.
San Mateo, California-based Freshworks joins a number of big names from the enterprise softwareRead More »
More than 50 US companies, including the online review service Yelp, clothing maker Patagonia and ride-hailing app Lyft, have signed on to a statement opposing a new Texas law that bans abortion after six weeks of pregnancy.
"Restricting access to comprehensive reproductive care, including abortion, threatens the health, independence, and economic stability of our workers and customers," said the statement circulated by the Planned Parenthood Federation of America, American Civil Liberties Union and other groups.
"Simply put, policies that restrict reproductive health care go against our values and are bad for business," the statement added.
Other companies signing on included ice cream maker Ben & Jerry's, cosmetics and skin care company The BoRead More »
Apple announced iOS 15 and iPadOS 15 at its WWDC 21 a few months ago. Since then, it has rolled out several beta updates for the two operating systems.
Recently, Apple rolled out stable updates for iOS 15 and iPadOS 15. While they come with a slew of new updates, there are some features that are yet to make their way to the users. The iPhones and iPads miss out on features such as SharePlay, improved AirPod Find My support, Universal Control, and more. While the Universal Control is yet to roll out on the iPhones, the other features are missing from both iPhones and iPads.
The Verge reports that it looked through Apple's product pages for each OS to find the features that have yet to show up on iPhones and iPads. They found several missing features. One of thRead More »
Why are we seeing the chair emoji everywhere in comments on social media posts? It's a new trend that is storming the platforms. Is it to show support for a particular movement? A feminist statement? Am anti-racist symbol? Nope, none of the above. It all started with... a joke! Hold on to your chair, we'll explain everything.
It all started on TikTok, as is so often the case. It was user Anthony Mai, aka @blank.antho, who single-handedly kicked off this movement on TikTok in early August. The goal is simple: replace the laughter emoji with the chair emoji to indicate when something is funny. A joke or "inside joke" intended to be insider knowledge among a small circle of users. A small circle that has grown. Since its publication, the video has accumRead More »
(Reuters) - Facebook Inc's independent oversight board said on Tuesday it has asked the social networking giant to provide clarity on the system it uses to review content decisions relating to some high-profile users.
The board's inquiry follows a Wall Street Journal report last week that Facebook exempts high-profile users from some or all of its rules.
(Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)
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(Reuters) -Google plans to buy an office building in Manhattan for $2.1 billion, as the Alphabet Inc-owned search engine giant joins fellow technology companies in investing in prime real estate, even as hybrid work models become common.
The deal for St. John's Terminal site in New York City, which Google currently leases, will complete in the first quarter of next year, Chief Financial Officer Ruth Porat said in a blog post https://blog.google/inside-google/company-announcements/increasing-googles-investment-in-new-york on Tuesday. The space is expected to open by mid-2023.
Tech giants, with billions of dollars in cash reserves, have been taking advantage of lower office building prices across cities in the United States.
Amazon.com Inc's $978 million pRead More »
FLORENCE (Reuters) - Former Formula One world champion Nico Rosberg and Agnelli family holding company Exor are among the new investors in Italy's Treedom, an e-commerce platform on which customers pay for having trees planted around the world.
The company, founded in Florence in 2010, will receive 10 million euros ($12 million) of investment to develop its digital platform, launch new planting projects and open subsidiaries in Paris and Amsterdam later this year, it said on Tuesday.
The move comes ahead of the United Nations Climate Change Conference in Glasgow, known as COP26, in November which Italy is co-hosting with the UK.
The group of investors supporting the company is led by Italian asset manager Banca Generali, which put 3 million euros intRead More »
(Reuters) - Facebook on Tuesday announced two new models of its Portal video calling devices, including its first portable version.
The social media company also said it was testing with several U.S. companies a service for businesses to remotely manage Portal work accounts and devices.
Facebook has not provided specific sales numbers on Portal, but a spokeswoman said there had been increased sales and usage during the COVID-19 pandemic, through which many companies shifted to remote working and more people stayed at home under lockdown measures. Facebook makes the vast majority of its money from digital ads.
The company, which is under scrutiny from global regulators and lawmakers over its approach to user safety, privacy and content across its serRead More »
(Reuters) - AT&T Inc Chief Executive John Stankey said on Tuesday the U.S. wireless company will pursue a "multi-year effort" to improve its reputation with customers.
Speaking at Goldman Sachs' Communacopia conference, Stankey said he was not satisfied with AT&T's current brand image and added the company is not currently perceived by customers as "being the best in all cases."
AT&T has so far achieved $2 billion in "cost efficiencies" out of its goal of $6 billion, which the company is investing back into its business, Stankey said.
(Reporting by Sheila Dang in Dallas; Editing by Sonya Hepinstall)
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BRUSSELS (Reuters) - The European Commission will on Thursday present a legislative proposal for a common charger for mobile phones, tablets and headphones, a person familiar with the matter said - a move likely to affect iPhone maker Apple more than its rivals.
The European Union executive and EU lawmakers have been pushing for a common charger for over a decade, saying it would be better for the environment and more convenient for users.
The Commission wants the sale of chargers to be decoupled from devices, and also propose a harmonised charging port, the person said.
Apple, whose iPhones are charged from its Lightning cable, has said rules forcing connectors to conform to one type could deter innovation, create a mountain of electronic waste and iRead More »