Optimizely, a San Francisco-based cloud-based startup, is slashing its workforce by 10 percent across all the departments. Based on recent round of finance, Otpimizely was valued at $585 million. Since its inception in 2009, Optimizely has raised over $146 million investments including $58 million round in 2015.
People
Meal-Kit Deliveries Are Gaining Popularity in the U.S., More Such Companies Emerging
Offering raw but pre-packed and pre-measured food ingredients and step-by-step recipes, meal-kit deliveries are getting more popular in the U.S. The country has seen an increase both in demands and the companies who offer such services.
Silicon Valley Bank report says more UK start-ups prefer acquisition than IPOs
Silicon Valley Bank report shows 59% of UK start-up heads chose to be acquired rather than seek IPOs. Many UK executives consider hiring labours to be more challenging than other business issues.
Bosch Launches a Cloud Network, Determined to Develop Its Own Internet of Things
Bosch is seeking to transform itself from equipment manufacturers to service providers. The company has launched its own cloud computing network and is determined to develop its Internet of Things technology and software to be better.
Propel raises $4.2mln from Cloud Apps Capital Partners
Product management tool provider Propel has closed $4.2 million series A investment. Cloud Apps Capital Partners participated in the A series investment round for Propel.
Latest News
Ford introduced a new technology that makes its police cars doors able to hold powerful rifles strikes. It was the first police cars doors to be passed by the Justice Department to provide level IV protection.
The US Postal Service will cut the price of postage, the first time in nearly hundred years. While, the cost of all commodities are rising, the drop in stamp prices surprises consumers. The cost decrease is anticipated to come live on April 10, 2016.
Chicago Transport Authority has planned to replace 2,600 age old rail cars with 846 units of 7000-Series cars. CTA has awarded the $1.3 billion deal, the largest purchase in its history to a unit of CRR Corp. on Wednesday. Chinese companies have been awarded the second major deal following $567 million contract to supply trains for Boston’s subway system.
Fiat Chrysler Automobiles (FCA) has prepared a blueprint on business growth for its Fiat dealers. The new plan enables Fiat dealers to trim operational costs and restore trust in the brand. FCA has also advised dealers to close down unviable stand-alone dealership outlets.
Jessica Alba’s Honest Company is facing allegations of using harsh chemicals it claimed to never use. Two test labs initiated by the Wall Street Journal showed a significant amount of the chemical SLS, but the company strongly denied using the chemical in manufacturing.
MMB patented gene modified seeds are capable of secreting anti pest protein. However, the seed giant is accused of charging higher royalty fees exerting undue dominance in the seed market. Upon complaints from respective trade body, the Indian agriculture ministry has imposed ceiling for royalties on gene modified cotton seeds.
Venture capitalization has appeared as an investment industry rival for banks and insurances. The new trend of raising capital has become much more popular for fintech startups during 2015 while raising $13.8 billion in funding. The raised fund appears just double compared to that in previous year and expected to grow significantly also in 2016.
Diagio Plc, British liquor major, says it paid $40 million to trouble-ridden Indian businessman Vijay Mallya. This comes close on the heels of an order by Debt Recovery Tribunal (DRT) not to pay Mallya any amount.
Kenya Airlines has recorded an annual loss of $690 million during 2015. Following the ever largest corporate debacle in Kenyan history, the struggling national carrier has revealed bailout plan for $690 million. The plan needs to get approval in the board meeting scheduled to take place on Thursday.
