Tag: million

13
Oct
2020
Posted in technology

McAfee Sets Terms of IPO, Hoping to Raise Up to $682 Million

McAfee, the cybersecurity company founded by tech eccentric John McAfee, has set the terms for its initial public offering, hoping to raise as much as $682 million in a deal that could value the company at $3.64 billion.

McAfee, based in San Jose, plans to sell 37 million shares at a price of $19 to $22 each. The stock will trade on Nasdaq, with the ticker symbol MCFE, the company said in an SEC filing.

Of the 37 million shares, 30,982,558 will come from the company and 6,017,442 from existing stockholders. McAfee expects to have 165.44 million Class A shares outstanding after the IPO.

In the six months through June 27, McAfee posted profit of $31 million, swinging from a loss of $146 million in the year-earlier period. Revenue rose 9% to $1.4 billion from $1.29 billion.

John McAfee founded McAfee Associates in 1987 and ran it until 1994, when he left the company.

McAfee’s anti-virus software was a market leader along with Norton in the 1990s and 2000s. It sold itself to Intel INTC for $7.7 billion in 2011.

In 2016, Intel sold a 51% stake to the San Francisco private-equity firm TPG for $1.1 billion. In its IPO prospectus, McAfee cites TPG and Chicago PE firm Thoma Bravo as investors.

After leaving McAfee Associates, John McAfee founded a raft of companies, including Tribal Voice, which offers the PowWow chat program; QuorumEx and Future Tense Central. 

In 2016 he sought the Libertarian Party nomination for president, losing to former New Mexico Gov. Gary Johnson. He gave it another shot this year, to no avail.

McAfee was arrested last week in Spain and is facing extradition to the U.S. on tax evasion charges. In a statement announcing the charges, the Department of Justice noted “The indictment does not allege that

13
Oct
2020
Posted in technology

Vivos Therapeutics Seeks $20 Million IPO

Vivos Therapeutics (VVOS) intends to raise $20 million in an IPO of its common stock, according to an S-1 registration statement.

Highlands Ranch, Colorado-based Vivos was founded to develop customized oral devices designed to help people who suffer from mild to moderate obstructive sleep apnea [OSA].

Management is headed by co-founder, Chairman and CEO R. Kirk Huntsman, who was previously founder of Dental One Partners, a large dental service organization.

Below is a brief overview video of Vivos Therapeutics:

The company’s primary offering is the Vivos System, composed of a nighttime appliance and a daytime/nighttime appliance.

Vivos has received at least $21 million from investors.

The firm sells its systems to dental practitioners via a direct sales force that targets prospects in the U.S. and Canada.

In the future, and with some of the proceeds from the IPO, the firm intends to develop strategic partnerships, connect with key opinion leaders, attend trade shows and use digital advertising platforms to introduce practitioners to the system.

Sales and Marketing expenses as a percentage of total revenue have dropped as revenues have increased.

The Sales and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Sales and Marketing spend, dropped 1.4x in the most recent reporting period.

According to a 2019 market research report, the global market for sleep apnea devices is expected to reach a value of $12.6 billion by 2025.

This represents a forecast CAGR of 6.8% from 2019 to 2025.

The main drivers for this expected growth are an increasing prevalence of sleep disordered breathing, growing awareness of the condition and a higher treatment rate in regions such as North America.

Also, therapeutic devices accounted for 65% of the market in 2018 and are expected to grow at a CAGR of

13
Oct
2020
Posted in software

BlackSwan Technologies Launches World’s First AI Operating System, Raises $28 Million in Funding to Pioneer Next Generation of Enterprise Software

Groundbreaking AI Software Highlighted by Gartner As “Bringing AI Closer to Human Learning and Intelligence”  

Company’s Stealth Mode Successes Include Tens of Millions in Revenue, Long-Term Contracts & Partnerships with the World’s Largest Consultancies & Fortune 500 Clients

BlackSwan Technologies launches as the world’s first enterprise AI operating system, enabling any company to leverage the most advanced artificial intelligence for an unprecedented level of operational efficiency and data-driven decision making. Since it began offering its technology to a limited customer base earlier this year, BlackSwan Technologies has generated tens of millions of dollars in revenue through multi-year contracts with many leading businesses. The company has also established a groundbreaking partnership with Deloitte to provide leading global banks an AI-powered platform that is already proven to increase revenue and drive efficiencies.

BlackSwan Technologies was recently recognized in Gartner’s 2020 Hype Cycle for Emerging Technologies report as a pioneer in “bringing AI closer to human learning and intelligence.” The company’s signature Platform as a Service (PaaS), ELEMENT, accomplishes this by combining multiple AI technologies — including machine learning, natural language processing, deep learning, neural network and data operation facilities — into a single platform.

Unlike other enterprise AI offerings, ELEMENT does not require well-organized data sets, countless hours of data normalization or technical in-house expertise to implement. ELEMENT’s Low code/No code, cloud-agnostic system includes several advanced enterprise applications including for Risk Management, Compliance, Lead Generation, Personalization and Market Intelligence. The platform also allows users to build enterprise applications up to 60 times faster and at a fraction of the cost of market alternatives. ELEMENT is designed to continuously learn and evolve with the enterprise and has a completely customizable structure with a simple, drag-and-drop interface, democratizing the development and execution of large, industrial enterprise applications.

“We believe this represents a

13
Oct
2020
Posted in technology

Crypto startup raises $2.2 million in fundraise to simplify governance for token delegates

Count this as another sign that the scrappy market for decentralized finance is growing up. 

Boardroom, a company developing a platform for DeFi governance, has completed a $2.2 million raise. The round was led by Standard Crypto, which was joined by a slew of digital asset investors including Slow Ventures, CoinFund, and Framework. The firm says it will use the fresh cash to build a suite of tools for DeFi power-users and protocols delegates to more seamlessly participate in governance decisions across projects.

Despite the breakneck growth of the DeFi market in recent months, governance has been fragmented and clunky. Stakeholders are forced to navigate disparate channels to access information about governance decisions and then vote, says Boardroom founder Kevin Nielson.

For instance, users who want to delegate their voting power to a third-party have to jump through a number of hoops to do so. In some cases token holders even have to self-delegate to vote on a given proposal (such as a change to interest rates offered on a DeFi lending platform).

In DeFi, users can offload their voting power to third-party delegates, but the process isn’t always straight forward and varies from protocol to protocol. In addition to simplifying delegation, Boardroom looks standardize the way in which protocol decisions are communicated to stakeholders. “We provide a standardization on top of the protocol,” said Nielson.

Part of that means moving projects from Discord channels and Twitter to the platform where they can more efficiently target stakeholders. In a sense, the platform resembles a DeFi-twist on Wall Street’s corporate governance platforms such as Nasdaq Boardvantage, which connects public company leadership with its board members. 

 In the future, the firm will offer a white-label service for DeFi projects as well, Nielson said.

“Think of it as governance as a service,” Nielson

13
Oct
2020
Posted in technology

Facebook donates $1.3 million to boost WWII code-breaking site

Facebook has made a £1 million ($1.3 million) donation to the museum at Bletchley Park, where British code-breakers decrypted messages sent using Nazi Germany’s Enigma cipher and contributed to an Allied victory in World War II, after the site was forced to cut dozens of jobs as a result of the pandemic.



a person standing in front of a store: UNITED KINGDOM - OCTOBER 23: Colossus was the world's first electronic programmable computer at Bletchley Park in Buckinghamshire. Bletchley Park was the British forces' intelligence centre during WWII, and is where cryptographers deciphered top-secret military communiques between Hitler and his armed forces. The communiques were encrypted in the Lorenz code which the Germans considered unbreakable, but the codebreakers at Bletchley cracked the code with the help of Colossus, and so aided the Allies' victory. The women seen here belonged to the Women's Royal Naval Service, (WRNS) and were nicknamed �Wrens�. (Photo by SSPL/Getty Images)


© Bletchley Park Trust/SSPL/Getty Images
UNITED KINGDOM – OCTOBER 23: Colossus was the world’s first electronic programmable computer at Bletchley Park in Buckinghamshire. Bletchley Park was the British forces’ intelligence centre during WWII, and is where cryptographers deciphered top-secret military communiques between Hitler and his armed forces. The communiques were encrypted in the Lorenz code which the Germans considered unbreakable, but the codebreakers at Bletchley cracked the code with the help of Colossus, and so aided the Allies’ victory. The women seen here belonged to the Women’s Royal Naval Service, (WRNS) and were nicknamed �Wrens�. (Photo by SSPL/Getty Images)

During the war, the mansion in Buckinghamshire, southeastern England, was home to the British government’s Code and Cypher School, where the world’s first programmable digital computer was built to decipher the Nazis’ communications.

Facebook said Monday that “the era of the computer was born” at the venue, as it announced its $1.3 million contribution.

“Like too many of our favorite places, it has been hit hard by a drop in visitors and revenue this year, pushing it toward difficult decisions about its future,” Mike Schroepfer, the company’s chief technology officer, said in a blog post. “Facebook is honored to be able to provide £1 million of support to help keep Bletchley Park open to the world.”

The museum that now operates on the site said in August it expected to lose £2 million ($2.6 million) in 2020 as revenues fell, and was planning to dismiss 35 workers —