Fidelity National to buy payment processor Worldpay for about $35 billion

U.S. fintech group Fidelity National Information Services (FIS) has agreed to buy payment processor Worldpay for about $35 billion, in the biggest deal to date in the booming payments industry. U.S.-based Fiserv bought payment processor First Data in January for $22 billion. The FIS offer for Worldpay, which was bought by U.S. credit card processing company Vantiv in 2017 for $10.63 billion, values Worldpay at about $43 billion, when debt is included, the companies said on Monday. The combined e


U.S. fintech group Fidelity National Information Services (FIS) has agreed to buy payment processor Worldpay for about $35 billion, in the biggest deal to date in the booming payments industry. U.S.-based Fiserv bought payment processor First Data in January for $22 billion. The FIS offer for Worldpay, which was bought by U.S. credit card processing company Vantiv in 2017 for $10.63 billion, values Worldpay at about $43 billion, when debt is included, the companies said on Monday. The combined e
Fidelity National to buy payment processor Worldpay for about $35 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: lori moffett, bloomberg, getty images
Keywords: news, cnbc, companies, 35, valuing, worldpay, shareholders, billion, fidelity, payment, london, national, fis, shares, companies, company, processor, buy


Fidelity National to buy payment processor Worldpay for about $35 billion

U.S. fintech group Fidelity National Information Services (FIS) has agreed to buy payment processor Worldpay for about $35 billion, in the biggest deal to date in the booming payments industry.

The deal is the latest in a wave of consolidation in the financial software and payments technology sectors as firms bulk up to compete with newcomers seeking to disrupt the way merchants are paid.

U.S.-based Fiserv bought payment processor First Data in January for $22 billion. In Europe, startups such as Italy’s Nexi plan to list, capitalizing on booming interest in the industry fueled by surging online sales.

The FIS offer for Worldpay, which was bought by U.S. credit card processing company Vantiv in 2017 for $10.63 billion, values Worldpay at about $43 billion, when debt is included, the companies said on Monday.

Worldpay’s London listed shares were up 9.4 percent at 8,104 pence in early trading on Monday.

“Scale matters in our rapidly changing industry,” FIS Chief Executive Officer Gary Norcross said in a statement.

Worldpay shareholders will receive 0.9287 FIS shares and $11 in cash for each share held, valuing the company at $112.12 per share — a premium of about 14 percent based on the stocks’ Friday closing, according to Reuters calculations.

The combined entity will have revenue of about $12 billion, the companies said.

Upon closing, FIS shareholders will own about 53 percent and Worldpay shareholders about 47 percent of the combined company.

Worldpay, which has provided payment processing services for more than 40 years, operated as a business unit of Fifth Third Bancorp until June 2009 when it separated as a stand-alone company. It was spun out of RBS to private-equity firms Bain Capital and Advent International in 2010.

The company listed on the London Stock Exchange in 2015, with an initial public offering valuing it at 4.8 billion pounds, the biggest flotation in London that year.

Centerview Partners and Goldman Sachs were financial advisers to FIS, the companies said, adding that Willkie Farr & Gallagher served as FIS’ legal adviser in the transaction.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: lori moffett, bloomberg, getty images
Keywords: news, cnbc, companies, 35, valuing, worldpay, shareholders, billion, fidelity, payment, london, national, fis, shares, companies, company, processor, buy


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Fidelity National to buy payment processor Worldpay for about $35 billion

U.S. fintech group Fidelity National Information Services (FIS) has agreed to buy payment processor Worldpay for about $35 billion, in the biggest deal to date in the booming payments industry. U.S.-based Fiserv bought payment processor First Data in January for $22 billion. The FIS offer for Worldpay, which was bought by U.S. credit card processing company Vantiv in 2017 for $10.63 billion, values Worldpay at about $43 billion, when debt is included, the companies said on Monday. The combined e


U.S. fintech group Fidelity National Information Services (FIS) has agreed to buy payment processor Worldpay for about $35 billion, in the biggest deal to date in the booming payments industry. U.S.-based Fiserv bought payment processor First Data in January for $22 billion. The FIS offer for Worldpay, which was bought by U.S. credit card processing company Vantiv in 2017 for $10.63 billion, values Worldpay at about $43 billion, when debt is included, the companies said on Monday. The combined e
Fidelity National to buy payment processor Worldpay for about $35 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: lori moffett, bloomberg, getty images
Keywords: news, cnbc, companies, 35, valuing, worldpay, shareholders, billion, fidelity, payment, london, national, fis, shares, companies, company, processor, buy


Fidelity National to buy payment processor Worldpay for about $35 billion

U.S. fintech group Fidelity National Information Services (FIS) has agreed to buy payment processor Worldpay for about $35 billion, in the biggest deal to date in the booming payments industry.

The deal is the latest in a wave of consolidation in the financial software and payments technology sectors as firms bulk up to compete with newcomers seeking to disrupt the way merchants are paid.

U.S.-based Fiserv bought payment processor First Data in January for $22 billion. In Europe, startups such as Italy’s Nexi plan to list, capitalizing on booming interest in the industry fueled by surging online sales.

The FIS offer for Worldpay, which was bought by U.S. credit card processing company Vantiv in 2017 for $10.63 billion, values Worldpay at about $43 billion, when debt is included, the companies said on Monday.

Worldpay’s London listed shares were up 9.4 percent at 8,104 pence in early trading on Monday.

“Scale matters in our rapidly changing industry,” FIS Chief Executive Officer Gary Norcross said in a statement.

Worldpay shareholders will receive 0.9287 FIS shares and $11 in cash for each share held, valuing the company at $112.12 per share — a premium of about 14 percent based on the stocks’ Friday closing, according to Reuters calculations.

The combined entity will have revenue of about $12 billion, the companies said.

Upon closing, FIS shareholders will own about 53 percent and Worldpay shareholders about 47 percent of the combined company.

Worldpay, which has provided payment processing services for more than 40 years, operated as a business unit of Fifth Third Bancorp until June 2009 when it separated as a stand-alone company. It was spun out of RBS to private-equity firms Bain Capital and Advent International in 2010.

The company listed on the London Stock Exchange in 2015, with an initial public offering valuing it at 4.8 billion pounds, the biggest flotation in London that year.

Centerview Partners and Goldman Sachs were financial advisers to FIS, the companies said, adding that Willkie Farr & Gallagher served as FIS’ legal adviser in the transaction.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: lori moffett, bloomberg, getty images
Keywords: news, cnbc, companies, 35, valuing, worldpay, shareholders, billion, fidelity, payment, london, national, fis, shares, companies, company, processor, buy


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Chipmakers are on pace for their best first quarter ever as fears about global economy ease

The Federal Reserve’s move to pause interest rate hikes has bolstered high-flying growth names like Advanced Micro Devices and Micron. Both of these companies are among the best performers this year, with AMD up more than 27 percent and Micron up more than 23 percent. But that hasn’t stopped investors from jumping in, as many point to improving signs about the U.S. and global economy. “These days the semiconductor companies have their tentacles in everything,” CNBC’s Jim Cramer, host of “Mad Mon


The Federal Reserve’s move to pause interest rate hikes has bolstered high-flying growth names like Advanced Micro Devices and Micron. Both of these companies are among the best performers this year, with AMD up more than 27 percent and Micron up more than 23 percent. But that hasn’t stopped investors from jumping in, as many point to improving signs about the U.S. and global economy. “These days the semiconductor companies have their tentacles in everything,” CNBC’s Jim Cramer, host of “Mad Mon
Chipmakers are on pace for their best first quarter ever as fears about global economy ease Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: jr reed, michaela rehle
Keywords: news, cnbc, companies, companies, nvidia, economy, chipmakers, best, recent, ease, issued, quarter, micron, stocks, global, fears, intel, weight, semiconductor, investors, pace


Chipmakers are on pace for their best first quarter ever as fears about global economy ease

But, amid investors’ newfound optimism and more encouraging trends in the semiconductor industry, chip stocks have rallied more than 31 percent off of their recent low hit on Dec. 26. The Federal Reserve’s move to pause interest rate hikes has bolstered high-flying growth names like Advanced Micro Devices and Micron. Both of these companies are among the best performers this year, with AMD up more than 27 percent and Micron up more than 23 percent. Rising rates tend to hurt these stocks as investors adjust to the new environment.

The chipmakers’ rally has come despite a mixed set of earnings reports over the past several weeks. On Friday, Broadcom jumped more than 8 percent after reporting better-than-expected results and issued encouraging guidance for the rest of 2019. But its peers have not been as successful in assuaging investors’ concerns. In late January, Nvidia reported its first quarterly year-over-year revenue decline in five years, while Intel lowered its outlook for the year, citing ongoing trade concerns. Qorvo, meanwhile, issued guidance well below Wall Street expectations in its report in early February.

But that hasn’t stopped investors from jumping in, as many point to improving signs about the U.S. and global economy.

“These days the semiconductor companies have their tentacles in everything,” CNBC’s Jim Cramer, host of “Mad Money”, said this week. “Now, I often tell you that housing punches above its weight when we talk about the economy. If housing’s strong, then the strength might spread to banks and retail. These days, in the new global economy dominated by data, the semiconductor stocks punch well above their weight, just like housing.”

Nvidia’s $6.8 billion bid to buy Israeli chipmaker Mellanox has also helped renew investors’ faith in this beaten-down sector. Nvidia beat out several other potential suitors, including rival Intel, and some see the move as evidence that these companies are more aggressively pursuing new growth channels.

The deal, if approved, would mark Nvidia’s biggest ever acquisition as it pushes into the growing data center market. The stock has now surged more than 27 percent to start the year, but it still down 42 percent from its most recent peak in early October.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: jr reed, michaela rehle
Keywords: news, cnbc, companies, companies, nvidia, economy, chipmakers, best, recent, ease, issued, quarter, micron, stocks, global, fears, intel, weight, semiconductor, investors, pace


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Value-added tax won’t push companies out of the US: Presidential candidate Andrew Yang

“This is the trickle-up economy, not the trickle-down economy,” Yang said. Yang used Amazon as an example as to why the U.S. should enforce a value added tax. He said Amazon, which is one of the most valuable public company in the world, should not be paying $0 in taxes. Amazon noted in a recent company filing that it will pay $756 million in state and international taxes this year. 1 market in the world, and if companies want to sell their products here “they have to pay their fair share.”


“This is the trickle-up economy, not the trickle-down economy,” Yang said. Yang used Amazon as an example as to why the U.S. should enforce a value added tax. He said Amazon, which is one of the most valuable public company in the world, should not be paying $0 in taxes. Amazon noted in a recent company filing that it will pay $756 million in state and international taxes this year. 1 market in the world, and if companies want to sell their products here “they have to pay their fair share.”
Value-added tax won’t push companies out of the US: Presidential candidate Andrew Yang Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: ashley turner, joshua lott, afp, getty images
Keywords: news, cnbc, companies, andrew, companies, world, yang, economy, taxes, paid, wont, pay, amazon, tax, paying, push, presidential, valueadded, candidate, company


Value-added tax won't push companies out of the US: Presidential candidate Andrew Yang

Democrats should be proposing a VAT, not a wealth tax, says AEI’s Pethokoukis 4:51 PM ET Fri, 25 Jan 2019 | 03:46

Yang said the tax would help pay for his plan to give every American adult between the ages of 18 to 64 a monthly $1,000 stipend. Yang claims there is a need for a universal basic income as artificial intelligence threatens to put a third of Americans at risk of permanent unemployment.

Yang said those handouts would then boost the economy.

“This is the trickle-up economy, not the trickle-down economy,” Yang said.

According to data from the Roosevelt Institute, a $1,000 handout per month to each adult citizen would grow the economy by $2.5 trillion in eight years.

Yang used Amazon as an example as to why the U.S. should enforce a value added tax. He said Amazon, which is one of the most valuable public company in the world, should not be paying $0 in taxes. This is the second year in a row the company has paid nothing in federal taxes.

“Is it Amazon’s fault that they paid zero in taxes?” Yang said. “No, it’s our fault.”

Amazon noted in a recent company filing that it will pay $756 million in state and international taxes this year.

“Amazon pays all the taxes we are required to pay in the U.S. and every country where we operate, including paying $2.6 billion in corporate tax and reporting $3.4 billion in tax expense over the last three years,” an Amazon spokesperson told CNBC Make It.

Yang said the United States is the No. 1 market in the world, and if companies want to sell their products here “they have to pay their fair share.”


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: ashley turner, joshua lott, afp, getty images
Keywords: news, cnbc, companies, andrew, companies, world, yang, economy, taxes, paid, wont, pay, amazon, tax, paying, push, presidential, valueadded, candidate, company


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Large fund firms’ support for combating climate change is all talk

Climate change questions don’t get more fundamental than this one: How much time is left to act before it is too late? Before he died, Vanguard Group founder Jack Bogle said one of the biggest issues the index fund would face in the future is its societal influence. BlackRock, the world’s largest asset manager, and Vanguard Group, the creator of the index fund, manage more than $11 trillion combined. And their market influence continues to grow: Vanguard has attracted roughly $1 trillion in the


Climate change questions don’t get more fundamental than this one: How much time is left to act before it is too late? Before he died, Vanguard Group founder Jack Bogle said one of the biggest issues the index fund would face in the future is its societal influence. BlackRock, the world’s largest asset manager, and Vanguard Group, the creator of the index fund, manage more than $11 trillion combined. And their market influence continues to grow: Vanguard has attracted roughly $1 trillion in the
Large fund firms’ support for combating climate change is all talk Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: eric rosenbaum, getty images, pickstock, matthew davidson, eyeem, hero images, laflor, saul loeb, afp
Keywords: news, cnbc, companies, firms, companies, change, fund, vanguard, talk, funds, large, index, combating, trillion, shareholder, climate, sustainability, support, vote, showing


Large fund firms' support for combating climate change is all talk

Climate change questions don’t get more fundamental than this one: How much time is left to act before it is too late?

Right now the difficulty of answering that question is showing up in a place where many individuals are heavily invested in getting the answer right: The index funds responsible for meeting millions of Americans personal financial goals, from saving for a house, to a child’s education, and a secure retirement.

Before he died, Vanguard Group founder Jack Bogle said one of the biggest issues the index fund would face in the future is its societal influence. Specifically, he meant the need to vote proxies on complex issues such as sustainability at annual meetings held by every publicly traded company and on behalf of so many individual fund shareholders.

BlackRock, the world’s largest asset manager, and Vanguard Group, the creator of the index fund, manage more than $11 trillion combined. Just in ETFs, they manage roughly $2.5 trillion. And their market influence continues to grow: Vanguard has attracted roughly $1 trillion in the past three years alone.

“Larger mutual funds companies, like Vanguard, Fidelity, BlackRock and State Street Global Advisors, can move the market,” said Mindy Lubber, CEO and president of Ceres, a nonprofit organization that works with big investors and companies on sustainability. “They can take a shareholder resolution from 10 percent to 40 percent.”

In 2017 both companies voted to require ExxonMobil to produce a report on climate change, a watershed moment showing what can occur when index funds punch their weight in proxy voting.

Yet shareholder advocates say there have not been nearly enough of those ExxonMobil vote moments.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: eric rosenbaum, getty images, pickstock, matthew davidson, eyeem, hero images, laflor, saul loeb, afp
Keywords: news, cnbc, companies, firms, companies, change, fund, vanguard, talk, funds, large, index, combating, trillion, shareholder, climate, sustainability, support, vote, showing


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Chipmakers are on pace for their best first quarter ever as fears about global economy ease

The Federal Reserve’s move to pause interest rate hikes has bolstered high-flying growth names like Advanced Micro Devices and Micron. Both of these companies are among the best performers this year, with AMD up more than 27 percent and Micron up more than 23 percent. But that hasn’t stopped investors from jumping in, as many point to improving signs about the U.S. and global economy. “These days the semiconductor companies have their tentacles in everything,” CNBC’s Jim Cramer, host of “Mad Mon


The Federal Reserve’s move to pause interest rate hikes has bolstered high-flying growth names like Advanced Micro Devices and Micron. Both of these companies are among the best performers this year, with AMD up more than 27 percent and Micron up more than 23 percent. But that hasn’t stopped investors from jumping in, as many point to improving signs about the U.S. and global economy. “These days the semiconductor companies have their tentacles in everything,” CNBC’s Jim Cramer, host of “Mad Mon
Chipmakers are on pace for their best first quarter ever as fears about global economy ease Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: jr reed, michaela rehle
Keywords: news, cnbc, companies, companies, nvidia, economy, chipmakers, best, recent, ease, issued, quarter, micron, stocks, global, fears, intel, weight, semiconductor, investors, pace


Chipmakers are on pace for their best first quarter ever as fears about global economy ease

But, amid investors’ newfound optimism and more encouraging trends in the semiconductor industry, chip stocks have rallied more than 31 percent off of their recent low hit on Dec. 26. The Federal Reserve’s move to pause interest rate hikes has bolstered high-flying growth names like Advanced Micro Devices and Micron. Both of these companies are among the best performers this year, with AMD up more than 27 percent and Micron up more than 23 percent. Rising rates tend to hurt these stocks as investors adjust to the new environment.

The chipmakers’ rally has come despite a mixed set of earnings reports over the past several weeks. On Friday, Broadcom jumped more than 8 percent after reporting better-than-expected results and issued encouraging guidance for the rest of 2019. But its peers have not been as successful in assuaging investors’ concerns. In late January, Nvidia reported its first quarterly year-over-year revenue decline in five years, while Intel lowered its outlook for the year, citing ongoing trade concerns. Qorvo, meanwhile, issued guidance well below Wall Street expectations in its report in early February.

But that hasn’t stopped investors from jumping in, as many point to improving signs about the U.S. and global economy.

“These days the semiconductor companies have their tentacles in everything,” CNBC’s Jim Cramer, host of “Mad Money”, said this week. “Now, I often tell you that housing punches above its weight when we talk about the economy. If housing’s strong, then the strength might spread to banks and retail. These days, in the new global economy dominated by data, the semiconductor stocks punch well above their weight, just like housing.”

Nvidia’s $6.8 billion bid to buy Israeli chipmaker Mellanox has also helped renew investors’ faith in this beaten-down sector. Nvidia beat out several other potential suitors, including rival Intel, and some see the move as evidence that these companies are more aggressively pursuing new growth channels.

The deal, if approved, would mark Nvidia’s biggest ever acquisition as it pushes into the growing data center market. The stock has now surged more than 27 percent to start the year, but it still down 42 percent from its most recent peak in early October.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: jr reed, michaela rehle
Keywords: news, cnbc, companies, companies, nvidia, economy, chipmakers, best, recent, ease, issued, quarter, micron, stocks, global, fears, intel, weight, semiconductor, investors, pace


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Amazon is introducing private investors to high-risk start-ups in a new pilot program

Amazon is testing a new way to bolster its relationship with start-ups and possibly bring in more capital to the ecosystem. The fledgling effort, known as the Amazon Web Services Pro-Rata Program, is designed to link private investors with companies that use AWS, as well as venture funds whose portfolios are filled with potential cloud customers. Start-ups bring innovation to the platform and some, like Lyft, Pinterest and Slack, grow up to be large enterprises with hefty technology budgets. Ama


Amazon is testing a new way to bolster its relationship with start-ups and possibly bring in more capital to the ecosystem. The fledgling effort, known as the Amazon Web Services Pro-Rata Program, is designed to link private investors with companies that use AWS, as well as venture funds whose portfolios are filled with potential cloud customers. Start-ups bring innovation to the platform and some, like Lyft, Pinterest and Slack, grow up to be large enterprises with hefty technology budgets. Ama
Amazon is introducing private investors to high-risk start-ups in a new pilot program Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: ari levy, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, bring, investors, pilot, venture, aws, private, startups, program, companies, cloud, amazon, highrisk, prorata, introducing


Amazon is introducing private investors to high-risk start-ups in a new pilot program

Amazon is testing a new way to bolster its relationship with start-ups and possibly bring in more capital to the ecosystem. The fledgling effort, known as the Amazon Web Services Pro-Rata Program, is designed to link private investors with companies that use AWS, as well as venture funds whose portfolios are filled with potential cloud customers. Amazon is not investing money through the program.

The Pro-Rata program is being run by Brad Holden, a former partner at TomorrowVentures (founded by ex-Google CEO Eric Schmidt), and Jason Hunt, who are both part of AWS’s business development team focused on angel and seed relationships, according to an email they sent to investors in January.

“The Pro-Rata Program is a new pilot intended to connect family offices and venture capitalists for specific investment opportunities from the AWS ecosystem,” according to the email, which was viewed by CNBC. “Pro rata” refers to the rights investors have to put money in subsequent rounds.

AWS has built a $25 billion enterprise tech behemoth by luring big companies and government agencies onto its cloud, and it now accounts for the bulk of Amazon’s profit. Ever since getting off the ground over a decade ago by providing computing and storage services for start-ups, AWS has counted on young and emerging companies for a big part of its success. Start-ups bring innovation to the platform and some, like Lyft, Pinterest and Slack, grow up to be large enterprises with hefty technology budgets.

Previously, Amazon and its smaller cloud competitors, Microsoft and Google, have attracted start-up developers through promotional credits that let them get started for free before they’re even generating revenue. Amazon also has a program called AWS Activate, which partners with over 3,000 incubators, accelerators, venture firms and other groups to expand use of the technology.

The new program is another effort to bring more new start-ups into the fold.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: ari levy, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, bring, investors, pilot, venture, aws, private, startups, program, companies, cloud, amazon, highrisk, prorata, introducing


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Amazon is introducing private investors to high-risk start-ups in a new pilot program

Amazon is testing a new way to bolster its relationship with start-ups and possibly bring in more capital to the ecosystem. The fledgling effort, known as the Amazon Web Services Pro-Rata Program, is designed to link private investors with companies that use AWS, as well as venture funds whose portfolios are filled with potential cloud customers. Start-ups bring innovation to the platform and some, like Lyft, Pinterest and Slack, grow up to be large enterprises with hefty technology budgets. Ama


Amazon is testing a new way to bolster its relationship with start-ups and possibly bring in more capital to the ecosystem. The fledgling effort, known as the Amazon Web Services Pro-Rata Program, is designed to link private investors with companies that use AWS, as well as venture funds whose portfolios are filled with potential cloud customers. Start-ups bring innovation to the platform and some, like Lyft, Pinterest and Slack, grow up to be large enterprises with hefty technology budgets. Ama
Amazon is introducing private investors to high-risk start-ups in a new pilot program Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: ari levy, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, bring, investors, pilot, venture, aws, private, startups, program, companies, cloud, amazon, highrisk, prorata, introducing


Amazon is introducing private investors to high-risk start-ups in a new pilot program

Amazon is testing a new way to bolster its relationship with start-ups and possibly bring in more capital to the ecosystem. The fledgling effort, known as the Amazon Web Services Pro-Rata Program, is designed to link private investors with companies that use AWS, as well as venture funds whose portfolios are filled with potential cloud customers. Amazon is not investing money through the program.

The Pro-Rata program is being run by Brad Holden, a former partner at TomorrowVentures (founded by ex-Google CEO Eric Schmidt), and Jason Hunt, who are both part of AWS’s business development team focused on angel and seed relationships, according to an email they sent to investors in January.

“The Pro-Rata Program is a new pilot intended to connect family offices and venture capitalists for specific investment opportunities from the AWS ecosystem,” according to the email, which was viewed by CNBC. “Pro rata” refers to the rights investors have to put money in subsequent rounds.

AWS has built a $25 billion enterprise tech behemoth by luring big companies and government agencies onto its cloud, and it now accounts for the bulk of Amazon’s profit. Ever since getting off the ground over a decade ago by providing computing and storage services for start-ups, AWS has counted on young and emerging companies for a big part of its success. Start-ups bring innovation to the platform and some, like Lyft, Pinterest and Slack, grow up to be large enterprises with hefty technology budgets.

Previously, Amazon and its smaller cloud competitors, Microsoft and Google, have attracted start-up developers through promotional credits that let them get started for free before they’re even generating revenue. Amazon also has a program called AWS Activate, which partners with over 3,000 incubators, accelerators, venture firms and other groups to expand use of the technology.

The new program is another effort to bring more new start-ups into the fold.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: ari levy, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, bring, investors, pilot, venture, aws, private, startups, program, companies, cloud, amazon, highrisk, prorata, introducing


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PagerDuty files to go public in what should be a big year for tech IPOs

PagerDuty, whose software helps companies respond quickly when their websites go down, is preparing to hit the public markets. By today’s standards, PagerDuty is small for a software company at the time of IPO. The company generated $32.1 million in the quarter that ended Oct. 31, and had a net loss of $15.3 million. T. Rowe Price Group led a $90 million investment in PagerDuty in September at a $1.3 billion valuation. The filing says PagerDuty is looking to raise as much as $100 million in the


PagerDuty, whose software helps companies respond quickly when their websites go down, is preparing to hit the public markets. By today’s standards, PagerDuty is small for a software company at the time of IPO. The company generated $32.1 million in the quarter that ended Oct. 31, and had a net loss of $15.3 million. T. Rowe Price Group led a $90 million investment in PagerDuty in September at a $1.3 billion valuation. The filing says PagerDuty is looking to raise as much as $100 million in the
PagerDuty files to go public in what should be a big year for tech IPOs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: jordan novet
Keywords: news, cnbc, companies, tech, ipos, software, files, pagerduty, million, company, big, public, respond, investors, ipo, san, companies


PagerDuty files to go public in what should be a big year for tech IPOs

PagerDuty, whose software helps companies respond quickly when their websites go down, is preparing to hit the public markets.

The company filed its IPO prospectus on Friday, and plans to trade on the New York Stock Exchange under the symbol “PD.”

By today’s standards, PagerDuty is small for a software company at the time of IPO. The company generated $32.1 million in the quarter that ended Oct. 31, and had a net loss of $15.3 million. And for the year ended Jan. 31, 2018, sales rose 41 percent to $79.6 million.

PagerDuty has over 10,000 customer, including, Gap, GE, IBM and Netflix, according to its website. Competitors include Atlassian and Splunk, which have both acquired their way into the market. PagerDuty’s software helps technical staff at companies spot problems and respond to incidents such as customer complaints.

Morgan Stanley and J.P. Morgan Chase are among the banks leading the deal. Investors include Accel, Andreessen Horowitz, Baseline Ventures and Bessemer Venture Partners. T. Rowe Price Group led a $90 million investment in PagerDuty in September at a $1.3 billion valuation.

The company was founded in 2009 and is based in San Francisco. Last year several technology companies started trading on the public markets, including Dropbox, DocuSign and Zuora. Lyft filed to go public earlier this month, and Uber, Airbnb, Pinterest and Slack are among other big names that investors could see debut this year.

The filing says PagerDuty is looking to raise as much as $100 million in the IPO.

WATCH: Tech IPOs could impact San Francisco real estate, here’s why


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: jordan novet
Keywords: news, cnbc, companies, tech, ipos, software, files, pagerduty, million, company, big, public, respond, investors, ipo, san, companies


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These tech companies aim to cure pain without pills

In 1992, doctors told Sana Health founder and CEO Richard Hanbury that he had just five years to live. It was a 1990’s movie — “Hudson Hawk” — that led Hanbury to develop a cure. In the film, Hawk, played by Bruce Willis, is just out of prison and gets pulled back into a series of heists, including stealing famous works of art. “Bruce Willis did literally save my life with that film,” Hanbury said in an interview. “The film went from good and bad to good and bad the whole way through.


In 1992, doctors told Sana Health founder and CEO Richard Hanbury that he had just five years to live. It was a 1990’s movie — “Hudson Hawk” — that led Hanbury to develop a cure. In the film, Hawk, played by Bruce Willis, is just out of prison and gets pulled back into a series of heists, including stealing famous works of art. “Bruce Willis did literally save my life with that film,” Hanbury said in an interview. “The film went from good and bad to good and bad the whole way through.
These tech companies aim to cure pain without pills Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: lora kolodny, katie schoolov
Keywords: news, cnbc, companies, hanbury, film, pain, good, cure, hawk, morphine, worse, bad, aim, companies, willis, yemen, pills, tech


These tech companies aim to cure pain without pills

In 1992, doctors told Sana Health founder and CEO Richard Hanbury that he had just five years to live.

A Jeep accident in Yemen at age 19 left him in a wheelchair and in such intense pain that he was rarely able to sleep, he recalls. Prescription drugs, even morphine, lost their effectiveness and the chronic pain from nerve damage only got worse, to the point that it threatened to kill him.

It was a 1990’s movie — “Hudson Hawk” — that led Hanbury to develop a cure. In the film, Hawk, played by Bruce Willis, is just out of prison and gets pulled back into a series of heists, including stealing famous works of art.

“Bruce Willis did literally save my life with that film,” Hanbury said in an interview. “The film went from good and bad to good and bad the whole way through. As I was watching, I realized that had changed my pain levels more than morphine. That’s where the whole idea of using a visual stimulus to create a different state of consciousness came from.”


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: lora kolodny, katie schoolov
Keywords: news, cnbc, companies, hanbury, film, pain, good, cure, hawk, morphine, worse, bad, aim, companies, willis, yemen, pills, tech


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