The Briefing on Technology
The latest news, trends and data on technology
In Data:
Technology News in Numbers
$2tn
The market cap of Apple, as of 19 August, making it the first publicly traded US company to hit the milestone. Apple previously became the world’s first trillion-dollar publicly traded company in 2018. Its closest rivals, Amazon and Microsoft, each had a market cap of around $1.6tn when it hit the $2tn mark.
355%
The year-over-year revenue increase enjoyed by Zoom in its Q2 results. Zoom has reported second quarter revenues of $633.5m as it continues its meteoric growth as the enterprise communications platform of choice amid the pandemic.
$230m
The amount raised by Finnish company HMD Global, which manufacturers Nokia phones. The money will be used to expand its efforts in several areas, including 5G, where it is likely to challenge in the mid-market range.
29%
The revenue increase enjoyed by WeChat owner Tencent Holdings in Q2, bringing its second quarter revenues to $16.2bn. The company has insisted that US President Donald Trump’s ban of WeChat will have little impact on its bottom line.
$1.78bn
The net loss of Uber for Q2, which represents an improvement on the previous year’s $5.24bn, however remains concerning for investors. Uber saw a surge in its delivery segment, but its ride-hailing business has shrunk by 67%. Its overall revenue dropped by 29%.
100 million
The number of Instagram users impacted by a large-scale data breach that impacted 235 million social media accounts. The breach saw datasets owned by social media data company Social Data exposed, specifically data including a phone number or email address. 42 million TikTok users and 4 million YouTube users were also affected.
Top Stories
The Key Moments in Technology in Recent Months
North Korean hacking group behind global cryptocurrency attacks
Lazarus Group, a hacking organisation that has been linked to North Korea, has been attributed to global cyberattack campaign targeting companies in the cryptocurrency space. The link has been uncovered by cybersecurity company F-Secure, which found that tools used in a spate of attacks were almost identical to those previously used in campaigns conducted by Lazarus Group.
Bitcoin, Ethereum traded on Vienna Stock Exchange for first time
Bitcoin and Ethereum are, for the first time, available to trade on the regulated market of the Vienna Stock Exchange. The move makes the stock exchange only the third in the world to allow a Bitcoin product to trade in its regulated market segment, and is a strong vote of confidence in the future of the cryptocurrency.
Halo band brings Amazon into the wellness market
Amazon has launched its wellness band and app subscription, Halo. The band is unique in that it doesn’t have a screen like its competitors’ products, instead utilising artificial intelligence and “multiple advanced sensors”. Its voice-sensing feature Tone uses machine learning to analyse the wearer’s voice.
Unreal Engine spared but Fortnite’s App Store ban remains
Apple does not have to immediately reinstate Epic Games’ Fortnite on its App Store, a US judge has ruled. However, Apple was prevented from cutting off Epic Games’ developer accounts, which would have restricted the use of Epic’s Unreal Engine for other games on the App Store.
Startup Funding:
Key Industry Announcements
Cyware raises $10m funding to transform cybersecurity ecosystem
Cybersecurity startup Cyware has announced that it has raised $10m in a Series A funding round to expand amid growing demand for its automated threat intelligence and response product due to the Covid-19 pandemic. The round was led by Mercato Partners’s venture practice Prelude Fund and endpoint management company Tanium. The company is aiming to transform the cybersecurity ecosystem by eliminating siloed security teams.
Supermetrics nets €40m to bring data warehousing to marketing
Finnish martech company Supermetrics has announced that it has raised €40m in a Series B funding round to expand into data warehousing and grow use of its products globally. The funding round was led by growth-stage investor Highland Europe. Founded in 2013, Supermetrics provides marketers with the ability to consolidate data and automate reports, enabling them to use analytics to gain key insights for campaigns.
Demodesk scoops $8m to fund meeting software for remote sales teams
Demodesk, a Munich-based startup that proves online meeting software for sales teams, has raised $8m in a Series A funding round. The funding will go towards hiring new employees, developing its software and scaling up the business in the US and Europe. The platform allows sales teams to use interactive virtual displays to showcase a product while conducting a video sales presentation.
Healthtech Practio nets €8.2m funding to expand care capabilities of pharmacies
Healthtech startup Practio has announced it has completed an equity funding round that, combined with a loan conversion and debt financing, has raised €8.2m for the company. The funding round was led by long-standing collaborator PHEONIX Group and Swedish early-stage venture capital company Spinton Venture. The startup has developed a digital healthcare platform that allows pharmacies to become central points-of-care.
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