The company formerly known as NewsCred has a new name and a new product: Welcome.
Co-founder and CEO Shafqat Islam explained that this follows a broader shift in the company’s strategy. While previously known as a content marketing business, Islam said NewsCred has been increasingly focused on building a broader software platform for marketers (a platform that it uses itself).
Eventually, this led the company to sell its content services business to business journalism company Industry Dive and its owner Falfurrias Capital Partners over the summer. Now Welcome is officially unveiling its new brand, which it’s also using for its new marketing orchestration software.
“It’s not often not often that startups like ours get to close one chapter and open another chapter,” Islam said. “We kind of went back to being a Series A, Series B startup, iterating and working very closely with our customers.”
While today is the official launch of Welcome platform, Islam said the company has been moving the software in this direction for the past year, and that this side of the business has already seen significant growth, with daily average users up 300% year-over-year.
Islam also suggested that while this was the right time to come up with a new company name, it’s something that’s been discussed repeatedly in the past.
Image Credits: Welcome
“Every time we raised money ever in last 10 years, the new investor would say, ‘What about the name? Can we change it?'” he recalled. “We could never do it, because we had this content heritage built up and enough brand equity. Finally, with this deal, and with the launch of the new software … we came up with the name Welcome.”
While there’s no shortage of marketing software out there already, Islam said marketers need an orchestration
(Reuters) – International Business Machines Corp
is splitting itself into two public companies, capping a years-long effort by the world’s first big computing firm to diversify away from its legacy businesses to focus on high-margin cloud computing.
IBM will list its IT infrastructure services unit, which provides technical support for 4,600 clients in 115 countries and has a backlog of $60 billion, as a separate company with a new name by the end of 2021.
The new company will have 90,000 employees and its leadership structure will be decided in a few months, Chief Financial Officer James Kavanaugh told Reuters.
IBM, which currently has more than 352,000 workers, said it expects to record nearly $5 billion in expenses related to the separation and operational changes.
Investors cheered the surprise move by Chief Executive Officer Arvind Krishna, the key architect behind IBM’s $34 billion acquisition of cloud company Red Hat last year, sending the company’s shares up 7%.
“We divested networking back in the ’90s, we divested PCs back in the 2000s, we divested semiconductors about five years ago because all of them didn’t necessarily play into the integrated value proposition,” Krishna said on a call with analysts.
In a blog, Krishna called the move a “significant shift” in the 109-year-old company’s business model.
“IBM is essentially getting rid of a shrinking, low-margin operation given the cannibalizing impact of automation and cloud, masking stronger growth for the rest of the operation,” Wedbush Securities analyst Moshe Katri said.
IBM, which has sought to make up for slowing software sales and seasonal demand for its mainframe servers, said it would now focus on open hybrid cloud and AI solutions that will account for more than half of its recurring revenues.
Krishna, who replaced Ginni Rometty as CEO in April, said IBM’s software and
International Business Machines Corp. (IBM) – Get Report shares jumped higher Thursday after the cloud-focused computer group said it would spin off its infrastructure division.
IBM said it will sell its ‘managed infrastructure services unit’, a legacy division that sits within the group’s global technology services group. The move will help concentrate IBM’s focus on hybrid cloud growth, the company said, which have been driving group earnings under new CEO Arvind Krishna.
IBM said the separation, a tax-free spin-off to IBM shareholders, will likely be completed by the end of next year.
“IBM is laser-focused on the $1 trillion hybrid cloud opportunity. Client buying needs for application and infrastructure services are diverging, while adoption of our hybrid cloud platform is accelerating,” Krishna said. “Now is the right time to create two market-leading companies focused on what they do best. IBM will focus on its open hybrid cloud platform and AI capabilities. NewCo will have greater agility to design, run and modernize the infrastructure of the world’s most important organizations.”
“Both companies will be on an improved growth trajectory with greater ability to partner and capture new opportunities – creating value for clients and shareholders,” he added.
IBM shares were marked 7.5% higher in early trading following news of the division sale to change hands at $133.62 each, the highest since early June.
IBM’s second quarter cloud revenues rose 30% to $6.3 billion. as well as solid sales from its cloud and cognitive software division, following a re-focus of business operations and reporting strucures announced last year.
Free cash flow generation also impressed, growing 15% year-on-year and snapping several quarters of decline under the previous executive team, while margins and cash collections improved.
Microsoft Chief Executive Officer (CEO) Satya Nadella has said social media companies should pay more attention to internet safety.
Nadella said Microsoft would have applied some of its experience in internet safety to ByteDance’s video-sharing app TikTok, The Wall Street Journal reported.
“What needs to happen is real reform in social media where internet safety is a top consideration,” Nadella was quoted as saying by WSJ. Microsoft recently made an unsuccessful bid to invest in TikTok’s US business.
TikTok, which was banned by India in June, has faced increased scrutiny over privacy and safety of user data.
Also read: India has tech smarts to build a rival app store, but platform monopoly will be hard to break
TikTok has previously been accused of privacy violations in the US. In February 2019, it paid $5.9 million to the Federal Trade Commission to settle allegations of collecting information of children.
Microsoft has experience of dealing with such content issues through its Xbox gaming platform, Nadella said.
Nadella is of the view that social media platforms should be better at self-regulation and be prepared for increased regulatory scrutiny.
“Regulation will never come fast enough to overcome some challenges,” the Wall Street Journal quoted him as saying. “Any product at scale with unintended consequences will face regulatory scrutiny.”
Oracle and Walmart have agreed to invest 12.5 percent and 7.5 percent, respectively, in TikTok Global, which would own the app in the US.
While US President Donald Trump has given the green signal to the deal, Beijing is yet to approve the transaction.
Chief Executive Satya Nadella said that internet safety should be a greater focus for social-media companies and that the software company would have applied some of its experience in that area to video-sharing app TikTok.
“What needs to happen is real reform in social media where internet safety is a top consideration,” Mr. Nadella said Tuesday at The Wall Street Journal’s CEO Council.
Microsoft during the summer made an unsuccessful bid to buy parts of TikTok and address what the U.S. said were national-security concerns about the app’s ties to China. The Redmond, Wash.-based company withdrew from the running after the Chinese government imposed export restrictions on the kind of software TikTok uses, leaving Microsoft’s cloud-computing rival
in pole position to partner with the app.
Mr. Nadella said TikTok approached Microsoft because it required help dealing with the U.S. government’s concerns.
Consumer-advocacy groups this year filed a complaint against TikTok with U.S. regulators, accusing the social-media powerhouse of flouting a children’s privacy law and breaking a previous settlement agreement over allegations that it illegally collected personal data from users under 13. TikTok agreed to a $5.7 million settlement with federal regulators over claims that it illegally collected personal information from children.
Microsoft, Mr. Nadella said, has experience in dealing with these kind of content issues through its Xbox gaming platform of mostly young users and would have drawn on its experience there to work with TikTok. Although Microsoft is best known for business-focused software, Mr. Nadella said TikTok would have been a good fit because it also sells consumer devices, has a videogaming business and runs professional networking social-media site LinkedIn.
Mr. Nadella said that social-media players should do a better job at self-regulation and expect closer regulatory scrutiny now that governments are starting