Tag: Debut

11
Oct
2020
Posted in website

ASX website crashes on big debut

The launch of the revamped platform comes at a busy time for the bourse, with the commencement of the second week of annual general meetings, with biotech company Opthea set to hold its shareholder meeting on Monday and other blue chips like Commonwealth Bank and Telstra to follow on Tuesday.

The problems sparked a flurry of criticism on social media and in emails and communications to the Financial Review, including from market participants and service providers whose business operations have been disrupted by the crash.

Ben Williamson, co-founder of fintech Fresh Equities, told the Financial Review the problems were “frustrating”, especially given how long users of the website had waited for an upgrade.

“We were very excited to see an update to the ASX website, it has been a long time coming and we are very supportive of the ASX’s continued innovation,” he said.

“The new announcement feed is nice and clean, they have better structured corporate information, but still could have gone further … The back-end data is still flowing though to data providers like ourselves, so it seems to be an ASX website issue rather than a ASX infrastructure issue.”

John Winters of popular trading platform Superhero said the website “feels a bit buggy” and that the ASX was right to try to improve the quality of its website.

“The future of investing is going to be about the user experience,” he said.

But while some complaints related to the technical problems, others harboured criticisms of the design and and functionality decisions taken by the ASX in its renovation.

One ASX website user complained about changes to viewing company announcements, accusing the stock exchange of keeping him “wilfully uninformed” and “mushroomed by administrative malice”.

The Financial Review‘s Rear Window column was also unimpressed by new functionality

07
Oct
2020
Posted in software

OpenDrives Delivers Scale-Out Storage Capabilities with Debut of Powerful New Centralized Software Management System Atlas 2.1

Scales Software Capabilities to Support Enterprise-Grade Businesses Globally with Features Driving Scalability, Operational management, Performance Analytics, and Service Availability

OpenDrives Atlas

Floating Software Screens
Floating Software Screens
Floating Software Screens

LOS ANGELES, Oct. 07, 2020 (GLOBE NEWSWIRE) — OpenDrives, the global provider of enterprise-grade, hyper-scalable network-attached-storage (NAS) solutions, announces today the availability of Atlas 2.1, the next version of its software platform and file system that powers all OpenDrives storage solutions. Atlas 2.1 enables a scale-out storage architecture to accelerate performance, power, and flexibility of OpenDrives’ storage lineup, including the recently released Ultra Hardware series. Customers are now able to overcome significant constraints within key functional areas, such as scalability, operational management, performance analytics, and service availability. 

“Many people think of storage as purely hardware. While it underpins the processes and interconnections within a storage solution, it’s the software that drives true performance,” said Sean Lee, Chief Product and Strategy Officer at OpenDrives. “Debuting Atlas 2.1 is a significant step towards more fully software-defined storage solutions. We’re proud to reach this milestone, scaling OpenDrives as a boutique hardware company to provide enterprise-grade customers with software that, for the first time, provides customers with the infrastructure they need to enable performance scale-out storage capabilities.”

Atlas 2.1 includes features that allow companies to massively scale outward while maintaining scale-up performance. These features include: storage clustering, distributed file systems, containerization, conditional automation, centralized management and visibility, cloud storage support, and high-availability.

Storage Clustering allows individual scale-up devices, or nodes, to be aggregated together forming a cluster. This parallel distributed architecture enables balanced workloads among cluster nodes without sacrificing performance hits such as increased latency.

Containerization brings functions such as compute and the application itself closer to where the data resides in our storage. While many vendors commonly approach containerization from the compute side,

30
Sep
2020
Posted in technology

Asana jumps 10% in trading debut after opening at $4.2 billion valuation

NYSE trader


  • Asana jumped as much as 10% in its first day of trading on Wednesday.
  • The stock opened at $27 per share, 29% above its reference price of $21. The ensuing climb marked a 10% increase from the opening price.
  • With 155 million shares outstanding, Asana sported a valuation of $4.6 billion at its peak after opening at $4.2 billion.
  • Visit Business Insider’s homepage for more stories.

Asana jumped as much as 10% in its first day of trading on Wednesday, hitting a high of $29.79.

Asana is a work management software company based out of San Francisco. The firm went public via a direct listing rather than the traditional IPO route.

With a reference price of $21 per share, Asana opened at $27 per share in the first minute of trade, giving it a valuation of $4.2 billion. At its peak on Wednesday, Asana sported a valuation of $4.6 billion, based on about 155 million shares outstanding.

Asana was founded in 2008 and markets a web and mobile application designed to help teams organize, track, and manage their work. The firm counts other software based companies like SmartSheet and Atlassian as its competitors. 

Read more: BANK OF AMERICA: Buy these 29 high-quality value stocks primed to cash in on the economic recovery

According to its S-1 filing, Asana  reported fiscal year 2020 revenue of $142.6 million, representing year-over-year growth of 86%. Net loss in fiscal year 2020 was $118.6 million, more than double from the prior year’s loss of $50.9 million. 

As of January 31, the company had over 1.2 million paid users.

A direct listing differs from a traditional IPO in that a direct listing does not raise any money for the company going public. Instead, a direct listing allows employees and shareholders to

30
Sep
2020
Posted in technology

Secretive, never profitable Palantir makes market debut

BOSTON (AP) — Seventeen years after it was born with the help of CIA seed money, the data-mining outfit Palantir Technologies is finally going public in the biggest Wall Street tech offering since last year’s debut of Slack and Uber.

Never profitable and dogged by ethical objections for assisting in the Trump administration’s deportation crackdown, Palantir forged ahead Wednesday with a direct listing of its stock, gaining 31% in its first trading day.

Rather than selling newly minted shares to raise money; Palantir listed existed shares for public trading. After a delay, trading began after noon and the stock closed at $9.50 after reaching a peak of $11.42.


The low-key stock strategy was in character for a secretive company long reliant on spies, cops and the military as customers — and whose founders are keeping voting control of the company.

The big question for both investors and company management: Can Palantir successfully transition from a business built on the costly handholding of government customers to serving corporate customers at scale? The company is a hybrid provider of software and consulting services that often embeds its own engineers with clients.

Analysts say its future depends on selling multinationals on its tools for gathering disparate data from an ever-expanding data universe and using artificial-intelligence technology to find previously undetectable patterns. Those can theoretically guide strategic decisions and identify new markets much as they have aided in tracking terrorists and sorting military intelligence.

The company sets itself apart from most U.S. technology providers, and just moved its headquarters to Denver from Silicon Valley. Palantir colors itself patriotic and belittles other tech firms that won’t unquestionably support U.S. dominance in war-fighting and intelligence.

“Our software is used to target terrorists and to keep soldiers safe,” CEO Alex Karp wrote in a letter accompanying Palantir’s

30
Sep
2020
Posted in technology

Palantir Shares Go Up in Wall Street Debut

Palantir Technologies, a company that helps government agencies analyze vast amounts of digital data, saw its shares jump in its Wall Street debut on Wednesday in a sign of continued investor excitement for money-losing software companies.

The company’s shares began trading at $10 on the New York Stock Exchange, a 38 percent increase from a “reference price” of $7.25 set Tuesday evening, and closed the day at $9.73.

Palantir is one of many companies rushing to go public before the election on Nov. 3. It hit the market the morning after a presidential debate seemed to foreshadow political turmoil that could rattle investors in the coming months.

Still, as the rest of the American economy has struggled with mass unemployment and the closing of businesses big and small, Wall Street has been welcoming to new public offerings. The three months that ended with September were the busiest quarter for initial public offerings in 20 years, with 81 offerings set to raise $28.5 billion, according to Renaissance Capital, which tracks I.P.O.s.

Shares of Asana, a collaboration software provider, and Velodyne, which makes sensors for self-driving cars, also began trading on Wednesday. Asana’s stock rose, valuing the company at $4.4 billion, up from its last private valuation of $1.5 billion, while Velodyne’s stock fell 24 percent to $18.69.

Recent successful debuts have included the gaming company Unity Software, the software provider JFrog, and Snowflake, a business technology company whose value increased more than fivefold in its initial public offering this month.

Airbnb, DoorDash and several other tech companies are also expected to go public in the coming months.

Investors embraced Palantir despite its inability to turn a profit and the many controversies swirling around it. Among them is the highly unusual way Palantir has kept most of its corporate voting power in