Ryanair predicts a ‘grim’ winter after summer profits fall 7%

Ryanair reported lower-than-expected profits in the second quarter of its fiscal year on Monday, as the airline struggles with weaker fares, higher oil prices and several strikes. It reported a net profit of 841.5 million euros ($968.61 million) for the second quarter, which was slightly below analyst expectations of 855 million euros, according to data firm Refinitiv. For the first half of the year, Ryanair reported a 7 percent drop in net profit to 1.2 billion euros. Here are the key highlight


Ryanair reported lower-than-expected profits in the second quarter of its fiscal year on Monday, as the airline struggles with weaker fares, higher oil prices and several strikes. It reported a net profit of 841.5 million euros ($968.61 million) for the second quarter, which was slightly below analyst expectations of 855 million euros, according to data firm Refinitiv. For the first half of the year, Ryanair reported a 7 percent drop in net profit to 1.2 billion euros. Here are the key highlight
Ryanair predicts a ‘grim’ winter after summer profits fall 7% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: silvia amaro
Keywords: news, cnbc, companies, profit, euros, versus, billion, profits, million, second, reported, predicts, fares, grim, fall, winter, ryanair, summer


Ryanair predicts a 'grim' winter after summer profits fall 7%

Ryanair reported lower-than-expected profits in the second quarter of its fiscal year on Monday, as the airline struggles with weaker fares, higher oil prices and several strikes.

It reported a net profit of 841.5 million euros ($968.61 million) for the second quarter, which was slightly below analyst expectations of 855 million euros, according to data firm Refinitiv. For the first half of the year, Ryanair reported a 7 percent drop in net profit to 1.2 billion euros.

Here are the key highlights:

Net profit: 841.5 million euros, versus 309.2 million euros in the first quarter.

Total operating expenses: 1.825 billion euros, versus 1.708 billion in the first quarter.

Speaking to CNBC Monday, Ryanair’s CEO painted a gloomy picture for the rest of the year.

“The winter looks grim. We have a combination of rising oil prices; although Ryanair is very well hedged while competitors aren’t; fares are falling, there’s excess capacity in Europe … We see a winter characterized by declining air fares,” Michael O’Leary, CEO or Ryanair told CNBC’s “Squawk Box Europe” Monday.

He predicted that amid such an environment, many airlines would struggle to operate. “You will see more failures this winter as we enter what is probably a four-five year downturn in the industry.”


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: silvia amaro
Keywords: news, cnbc, companies, profit, euros, versus, billion, profits, million, second, reported, predicts, fares, grim, fall, winter, ryanair, summer


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Two ‘unstable’ OPEC nations may decide whether oil hits $100

“What I always worry about is the stories we should be watching, the unstable suppliers,” Croft recently told CNBC’s “Worldwide Exchange.” RBC has warned clients that 500,000 barrels per day could be periodically lost from the two nations, and elections may bring additional unrest. Iran’s exports are shrinking as oil buyers cut off purchases under threat of sanctions from the Trump administration. “If you’re going to have Venezuela continuing to decline, a million barrels of Iran off the market,


“What I always worry about is the stories we should be watching, the unstable suppliers,” Croft recently told CNBC’s “Worldwide Exchange.” RBC has warned clients that 500,000 barrels per day could be periodically lost from the two nations, and elections may bring additional unrest. Iran’s exports are shrinking as oil buyers cut off purchases under threat of sanctions from the Trump administration. “If you’re going to have Venezuela continuing to decline, a million barrels of Iran off the market,
Two ‘unstable’ OPEC nations may decide whether oil hits $100 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: tom dichristopher, abdullah doma, afp, getty images
Keywords: news, cnbc, companies, militants, oil, barrels, barclays, recent, opec, million, unstable, nations, saudi, nigerias, 100, decide, hits, market, recently


Two 'unstable' OPEC nations may decide whether oil hits $100

“What I always worry about is the stories we should be watching, the unstable suppliers,” Croft recently told CNBC’s “Worldwide Exchange.”

RBC has warned clients that 500,000 barrels per day could be periodically lost from the two nations, and elections may bring additional unrest.

Half a million bpd represents just half a percent of daily global demand, but a disruption of that scale would have an outsize impact given the anticipated loss of roughly 1 million barrels a day of Iranian crude in the coming months. Iran’s exports are shrinking as oil buyers cut off purchases under threat of sanctions from the Trump administration.

“If you’re going to have Venezuela continuing to decline, a million barrels of Iran off the market, you can’t afford to lose another big, major producer,” Croft said.

Washington is largely depending on Saudi Arabia, Russia and a handful of other producers to keep the market supplied and prevent an oil price spike as Iran’s shipments dwindle. Traders recently sent Brent crude to nearly four-year highs above $86 a barrel, as fears that the Saudi alliance will fall short stoked concern about $100 oil.

Investment bank Barclays does not think oil prices will hit triple digits, but the outcome of Nigeria’s elections in February presents the biggest risk to that outlook, Michael Cohen, the bank’s head of energy markets research, said in a recent note to clients.

If Nigeria’s political opposition unseats President Muhammadu Buhari, Barclays analysts believe the new leadership will probably have to renegotiate a deal with militants brokered by Buhari’s government. During a political transition, militants might resume attacks on oil infrastructure, which caused Nigeria’s output to plunge by about 400,000 bpd in early 2016.

Analysts at Barclays say there’s a growing chance that the opposition can present a credible alternative to Buhari, whose popularity is waning and who spent much of his presidency seeking medical treatment overseas.

“Oil market participants ought to be more concerned about the possibility of disruptions in the Niger delta,” Cohen wrote, referring to Nigeria’s southern oil-producing region, a maze of waterways where militants staged daring attacks between 2006 and 2009 and again in recent years.

Oil theft also remains endemic in the Niger Delta. This month, a pipeline blast believed to be caused by petroleum thieves killed dozens, sparking protests among locals who blamed the Nigerian National Petroleum Corporation for the explosion.


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: tom dichristopher, abdullah doma, afp, getty images
Keywords: news, cnbc, companies, militants, oil, barrels, barclays, recent, opec, million, unstable, nations, saudi, nigerias, 100, decide, hits, market, recently


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Mega Millions jackpot surges to $1.6 billion. If you win, here’s how to avoid big mistakes

After no one hit all winning numbers in Friday night’s Mega Millions drawing, the jackpot has surged to a staggering $1.6 billion — the largest prize in U.S. lottery history. And at some point, someone will get really lucky. As in really, really lucky. Your chance of winning the Mega Millions jackpot is pretty dismal: 1 in 302.6 million. Prior to last October, when changes were made to the game, it was 1 in 258.9 million.


After no one hit all winning numbers in Friday night’s Mega Millions drawing, the jackpot has surged to a staggering $1.6 billion — the largest prize in U.S. lottery history. And at some point, someone will get really lucky. As in really, really lucky. Your chance of winning the Mega Millions jackpot is pretty dismal: 1 in 302.6 million. Prior to last October, when changes were made to the game, it was 1 in 258.9 million.
Mega Millions jackpot surges to $1.6 billion. If you win, here’s how to avoid big mistakes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-20  Authors: sarah obrien, mark ralston, afp, getty images
Keywords: news, cnbc, companies, win, jackpot, how, to, millions, mistakes, you, mega, winning, in, million, if, surges, the, really


Mega Millions jackpot surges to $1.6 billion. If you win, here's how to avoid big mistakes

After no one hit all winning numbers in Friday night’s Mega Millions drawing, the jackpot has surged to a staggering $1.6 billion — the largest prize in U.S. lottery history.

And at some point, someone will get really lucky. As in really, really lucky.

Your chance of winning the Mega Millions jackpot is pretty dismal: 1 in 302.6 million. Prior to last October, when changes were made to the game, it was 1 in 258.9 million.


Company: cnbc, Activity: cnbc, Date: 2018-10-20  Authors: sarah obrien, mark ralston, afp, getty images
Keywords: news, cnbc, companies, win, jackpot, how, to, millions, mistakes, you, mega, winning, in, million, if, surges, the, really


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Icon Ventures’ Horowitz expands fund to stay relevant amid megafunds

Joe Horowitz is a venture capital traditionalist. But as megafunds and hundred-million-dollar rounds balloon valuations and flood the space, the Icon Ventures managing general partner finds himself fighting money with money. “If we don’t adjust to the reality of the implications of what the megafunds mean for us, we’re at risk for our business,” Horowitz told CNBC in an interview. Icon Ventures plans to announce the expansion of its most recent fund by an additional $110 million. “Venture capita


Joe Horowitz is a venture capital traditionalist. But as megafunds and hundred-million-dollar rounds balloon valuations and flood the space, the Icon Ventures managing general partner finds himself fighting money with money. “If we don’t adjust to the reality of the implications of what the megafunds mean for us, we’re at risk for our business,” Horowitz told CNBC in an interview. Icon Ventures plans to announce the expansion of its most recent fund by an additional $110 million. “Venture capita
Icon Ventures’ Horowitz expands fund to stay relevant amid megafunds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-20  Authors: sara salinas, source, icon ventures, boston dynamics
Keywords: news, cnbc, companies, venture, rounds, fund, amid, million, icon, megafunds, ventures, stay, expands, business, billion, relevant, capital, horowitz, valuations


Icon Ventures' Horowitz expands fund to stay relevant amid megafunds

Joe Horowitz is a venture capital traditionalist.

He believes in best practices, business fundamentals and calculated bets. But as megafunds and hundred-million-dollar rounds balloon valuations and flood the space, the Icon Ventures managing general partner finds himself fighting money with money.

“If we don’t adjust to the reality of the implications of what the megafunds mean for us, we’re at risk for our business,” Horowitz told CNBC in an interview. “To be relevant today … you need enough capital.”

Icon Ventures plans to announce the expansion of its most recent fund by an additional $110 million. Icon’s Fund VI had previously closed at $265 million, but is now getting a 40 percent bump to $375 million in committed capital.

“When we look at the kind of rounds that we’re invested in — with some of the best firms on the planet — we need more capital,” said Horowitz.

Icon focuses on Series B and C rounds, and counts successful exits in companies like 41st Parameter and Calypto and in now-public companies like FireEye and Palo Alto Networks. The firm manages more than $1 billion in total.

But megafunds like SoftBank are raising the ante, inflating valuations and pushing the market toward correction, Horowitz said.

“I have a lot of respect for [SoftBank CEO] Masa Son, but the notion of $100 billion when success in our world is a $20 billion outcome — it’s a very different business,” he said. “Venture capital is more about metering in money at different size financings as the company demonstrates the right kind of progress.”

Icon’s newest financing will help the firm compete, though it won’t be shifting investment strategy soon. Horowitz said the extra $110 million will be invested in software, security and consumer deals — like much of its previous funding.

Icon will also look at the internet of things and blockchain applications that it finds “compelling and legitimate,” Horowitz said.


Company: cnbc, Activity: cnbc, Date: 2018-10-20  Authors: sara salinas, source, icon ventures, boston dynamics
Keywords: news, cnbc, companies, venture, rounds, fund, amid, million, icon, megafunds, ventures, stay, expands, business, billion, relevant, capital, horowitz, valuations


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Want to work for Jack Ma? These are the traits he looks for in a candidate

For Jack Ma, the man behind Chinese tech giant Alibaba, that’s a process that took him some time to master. Ma, speaking in the Indonesian resort island of Bali last week, recalled a hiring mistake he made in the early days of Alibaba. One of the VPs of marketing came to me, he gave me a proposal, he said: ‘Sir, this is our next year’s business marketing plan,'” Ma said at the annual meetings of the International Monetary Fund and the World Bank. But that employee admitted that he had never done


For Jack Ma, the man behind Chinese tech giant Alibaba, that’s a process that took him some time to master. Ma, speaking in the Indonesian resort island of Bali last week, recalled a hiring mistake he made in the early days of Alibaba. One of the VPs of marketing came to me, he gave me a proposal, he said: ‘Sir, this is our next year’s business marketing plan,'” Ma said at the annual meetings of the International Monetary Fund and the World Bank. But that employee admitted that he had never done
Want to work for Jack Ma? These are the traits he looks for in a candidate Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: yen nee lee, bloomberg
Keywords: news, cnbc, companies, ma, company, candidate, week, fault, plan, hiring, business, looks, world, jack, million, work, traits, marketing


Want to work for Jack Ma? These are the traits he looks for in a candidate

Growing a company requires hiring the right people. For Jack Ma, the man behind Chinese tech giant Alibaba, that’s a process that took him some time to master.

Ma, speaking in the Indonesian resort island of Bali last week, recalled a hiring mistake he made in the early days of Alibaba.

“When I raised my first round of funds, it was $5 million. I hired a lot of vice presidents from multinational companies. One of the VPs of marketing came to me, he gave me a proposal, he said: ‘Sir, this is our next year’s business marketing plan,'” Ma said at the annual meetings of the International Monetary Fund and the World Bank.

As it turned out, that plan was designed to cost $12 million — way over the spending budget that the company could afford back then, Ma explained. But that employee admitted that he had never done a business plan below $10 million.

“So I said: ‘Alright, it’s not his fault, it’s my fault,'” Ma said, adding that he realized his decision to hire those people then was akin to placing a Boeing 747 engine into a tractor.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: yen nee lee, bloomberg
Keywords: news, cnbc, companies, ma, company, candidate, week, fault, plan, hiring, business, looks, world, jack, million, work, traits, marketing


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

3 mistakes you shouldn’t make if you win the $1 billion Mega Millions jackpot

The top prize for the Mega Millions lottery has reached a whopping $1 billion, according to the game’s official website. And while your chance of winning is a slim one in 302.6 million, coming into money like that would be life-changing. Even the top 1 percent of earners has $2.5 million in savings on average, or about 400 times less than the current lottery jackpot. If you find yourself holding a winning ticket, though, it doesn’t mean all your financial worries will go away. Here are three mis


The top prize for the Mega Millions lottery has reached a whopping $1 billion, according to the game’s official website. And while your chance of winning is a slim one in 302.6 million, coming into money like that would be life-changing. Even the top 1 percent of earners has $2.5 million in savings on average, or about 400 times less than the current lottery jackpot. If you find yourself holding a winning ticket, though, it doesn’t mean all your financial worries will go away. Here are three mis
3 mistakes you shouldn’t make if you win the $1 billion Mega Millions jackpot Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: shawn m carter, caiaimage robert daly, getty images
Keywords: news, cnbc, companies, winning, win, mega, shouldnt, millions, prize, jackpot, lottery, savings, reached, billion, money, loans, million, average, owes, mistakes


3 mistakes you shouldn't make if you win the $1 billion Mega Millions jackpot

The top prize for the Mega Millions lottery has reached a whopping $1 billion, according to the game’s official website. That’s the second-largest grand prize in U.S. history.

And while your chance of winning is a slim one in 302.6 million, coming into money like that would be life-changing. The median American household has only $11,700 in total savings. Even the top 1 percent of earners has $2.5 million in savings on average, or about 400 times less than the current lottery jackpot.

Meanwhile, credit card debt in the U.S. has reached a high, according to a report from the Federal Reserve, surpassing $1 trillion in 2017, and student debt is holding back a generation: The average 20-year-old with loans owes $22,135, and the average 30-year-old with loans owes $34,033.

If you find yourself holding a winning ticket, though, it doesn’t mean all your financial worries will go away. Lottery winners are actually more likely to declare bankruptcy than the average American.

CNBC Make It spoke to some money experts about coming into a huge windfall. Here are three mistakes they say you should avoid if you want to make the most or your winnings:


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: shawn m carter, caiaimage robert daly, getty images
Keywords: news, cnbc, companies, winning, win, mega, shouldnt, millions, prize, jackpot, lottery, savings, reached, billion, money, loans, million, average, owes, mistakes


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Mega Millions jackpot rises to $1 billion

The Mega Millions jackpot reached $1 billion on Friday, marking the second-largest prize in U.S. lottery history. The $1 billion prize refers to the annuity option. A Mega Millions prize of any amount can be claimed up to one year from the date of the drawing. The previous record jackpot in Mega Millions was a $656 million prize that was shared by winners from Kansas, Illinois and Maryland in March 2012. If no one picks all six numbers in Friday night’s drawing, the prize for Tuesday night’s dra


The Mega Millions jackpot reached $1 billion on Friday, marking the second-largest prize in U.S. lottery history. The $1 billion prize refers to the annuity option. A Mega Millions prize of any amount can be claimed up to one year from the date of the drawing. The previous record jackpot in Mega Millions was a $656 million prize that was shared by winners from Kansas, Illinois and Maryland in March 2012. If no one picks all six numbers in Friday night’s drawing, the prize for Tuesday night’s dra
Mega Millions jackpot rises to $1 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: laura galligan, angela weiss, afp, getty images
Keywords: news, cnbc, companies, mega, millions, nights, prize, drawing, jackpot, winners, rises, billion, tickets, million


Mega Millions jackpot rises to $1 billion

The Mega Millions jackpot reached $1 billion on Friday, marking the second-largest prize in U.S. lottery history.

The $1 billion prize refers to the annuity option. Most winners opt for cash, which for Friday night’s drawing would be $565 million. A Mega Millions prize of any amount can be claimed up to one year from the date of the drawing.

Although the jackpot keeps increasing, the odds of winning remain at one in 302.5 million. Tickets for Friday’s drawing can be purchased until 10:45 p.m. ET, 15 minutes before the live televised drawing. Tickets cost $2 each.

The prize has grown so large because no one has hit the jackpot since July 24, when a group in California won $543 million.

In 2016, Powerball had a $1.586 billion prize. The previous record jackpot in Mega Millions was a $656 million prize that was shared by winners from Kansas, Illinois and Maryland in March 2012.

If no one picks all six numbers in Friday night’s drawing, the prize for Tuesday night’s drawing would be $1.6 billion, tying the largest U.S. lottery prize.

The next Powerball drawing is at 10:59 p.m. ET Saturday.

–The Associated Press contributed to this report


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: laura galligan, angela weiss, afp, getty images
Keywords: news, cnbc, companies, mega, millions, nights, prize, drawing, jackpot, winners, rises, billion, tickets, million


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

StarKist admits fixing tuna prices, faces $100 million fine

Authorities say StarKist has agreed to plead guilty to price fixing as part of a broad collusion investigation of the canned tuna industry. Federal prosecutors announced the plea agreement Thursday and said the company faces a fine up to $100 million. Bumble Bee Foods last year pleaded guilty to the same charge and paid a $25 million fine. Chicken of the Sea has not been charged because prosecutors say the company exposed the scheme and co-operated with the investigation. Two former Bumble Bee e


Authorities say StarKist has agreed to plead guilty to price fixing as part of a broad collusion investigation of the canned tuna industry. Federal prosecutors announced the plea agreement Thursday and said the company faces a fine up to $100 million. Bumble Bee Foods last year pleaded guilty to the same charge and paid a $25 million fine. Chicken of the Sea has not been charged because prosecutors say the company exposed the scheme and co-operated with the investigation. Two former Bumble Bee e
StarKist admits fixing tuna prices, faces $100 million fine Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: danny johnston
Keywords: news, cnbc, companies, pleaded, guilty, bumble, tuna, say, bee, faces, 100, fixing, million, admits, prosecutors, price, fine, prices, starkist


StarKist admits fixing tuna prices, faces $100 million fine

Authorities say StarKist has agreed to plead guilty to price fixing as part of a broad collusion investigation of the canned tuna industry.

Federal prosecutors announced the plea agreement Thursday and said the company faces a fine up to $100 million. Bumble Bee Foods last year pleaded guilty to the same charge and paid a $25 million fine.

Chicken of the Sea has not been charged because prosecutors say the company exposed the scheme and co-operated with the investigation.

Two former Bumble Bee executives and a former StarKist executive also each pleaded guilty to price-fixing charges.

Former Bumble Bee chief executive Christopher Lischewski has pleaded not guilty to a price fixing charge.

The three companies are accused of conspiring to keep canned tuna prices artificially high between 2010 and 2013.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: danny johnston
Keywords: news, cnbc, companies, pleaded, guilty, bumble, tuna, say, bee, faces, 100, fixing, million, admits, prosecutors, price, fine, prices, starkist


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Top VC deals: Instacart’s $7B valuation, Bill Gates’ EU energy fund

The $300 million Series B financing values the company at $1.8 billion, people familiar with the matter told CNBC. Middle East ride-hailing company Careem secured $200 million from existing investors, including Saudi Arabian billionaire Prince Alwaleed bin Talal’s Kingdom Holding and Al Tayyar Group. SoftBank’s Vision Fund invested $100 million in Brazilian delivery start-up Loggi, according to Bloomberg. The company, which operates in goods and food delivery, previously raised funding from Qual


The $300 million Series B financing values the company at $1.8 billion, people familiar with the matter told CNBC. Middle East ride-hailing company Careem secured $200 million from existing investors, including Saudi Arabian billionaire Prince Alwaleed bin Talal’s Kingdom Holding and Al Tayyar Group. SoftBank’s Vision Fund invested $100 million in Brazilian delivery start-up Loggi, according to Bloomberg. The company, which operates in goods and food delivery, previously raised funding from Qual
Top VC deals: Instacart’s $7B valuation, Bill Gates’ EU energy fund Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: sara salinas, wan xiaojun, source, bloomberg, david paul morris, getty images
Keywords: news, cnbc, companies, round, gates, eu, 7b, bill, million, startup, instacarts, valuation, ridehailing, previously, fund, investment, vc, energy, deals, company, led, health, told


Top VC deals: Instacart's $7B valuation, Bill Gates' EU energy fund

Instacart CEO: Amazon-Whole Foods deal was a turning point in the industry 3:09 PM ET Tue, 28 Nov 2017 | 02:07

Andreessen Horowitz led a new round in Devoted Health, a health insurance start-up aimed at seniors. The $300 million Series B financing values the company at $1.8 billion, people familiar with the matter told CNBC. Devoted is co-founded and run by Todd Park, who previously co-founded Athenahealth and Castlight Health.

Middle East ride-hailing company Careem secured $200 million from existing investors, including Saudi Arabian billionaire Prince Alwaleed bin Talal’s Kingdom Holding and Al Tayyar Group. Careem competes head-to-head in many major Middle East cities with ride-hailing pioneer Uber. One source close to the deal told Reuters that the latest investment, combined with previous fundraising and expansion into new segments and markets, gave the company an estimated valuation of over $2 billion.

SoftBank’s Vision Fund invested $100 million in Brazilian delivery start-up Loggi, according to Bloomberg. The company, which operates in goods and food delivery, previously raised funding from Qualcomm Ventures and Dragoneer Investment Group.

Nikon led a $95 million financing round in Berkeley Lights, a digital cell biology company. Sequoia Capital and Cota Capital also participated in the round.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: sara salinas, wan xiaojun, source, bloomberg, david paul morris, getty images
Keywords: news, cnbc, companies, round, gates, eu, 7b, bill, million, startup, instacarts, valuation, ridehailing, previously, fund, investment, vc, energy, deals, company, led, health, told


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Cloud software company Qualtrics plans to follow rival SurveyMonkey to the public markets

Less than a month after survey software company SurveyMonkey held its public market debut, one of its top rivals, Qualtrics, announced plans to follow suit. In the first half of 2018, Qualtrics recorded revenue growth of 41.7 percent to $184.2 million. By contrast, SurveyMonkey had $121.2 million in revenue during that same period, up 14 percent. The company had 1,915 employees as of Sept. 30, and is based in Provo, Utah, the same state where Domo, another newly public software developer, reside


Less than a month after survey software company SurveyMonkey held its public market debut, one of its top rivals, Qualtrics, announced plans to follow suit. In the first half of 2018, Qualtrics recorded revenue growth of 41.7 percent to $184.2 million. By contrast, SurveyMonkey had $121.2 million in revenue during that same period, up 14 percent. The company had 1,915 employees as of Sept. 30, and is based in Provo, Utah, the same state where Domo, another newly public software developer, reside
Cloud software company Qualtrics plans to follow rival SurveyMonkey to the public markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: jordan novet
Keywords: news, cnbc, companies, qualtrics, plans, million, surveymonkey, revenue, venture, cloud, rival, smith, follow, customers, software, markets, company, public


Cloud software company Qualtrics plans to follow rival SurveyMonkey to the public markets

Less than a month after survey software company SurveyMonkey held its public market debut, one of its top rivals, Qualtrics, announced plans to follow suit.

Qualtrics filed its IPO prospectus on Friday, and will soon join SurveyMonkey on the Nasdaq Stock Market, trading under the symbol XM, which refers to “experience management.”

Qualtrics, whose technology captures sentiment among employees, customers, partners and others, is bigger than SurveyMonkey and growing much faster while also turning a profit last year. Most of its sales come from subscriptions, and the company also generates revenue from a research on demand option that existing customers can use to get feedback from “a curated group of respondents,” and from professional services.

In the first half of 2018, Qualtrics recorded revenue growth of 41.7 percent to $184.2 million. By contrast, SurveyMonkey had $121.2 million in revenue during that same period, up 14 percent. After generating a profit in 2017, Qualtrics reported a $3.4 million net loss for the first six months of this year.

Qualtrics was founded in 2002 — by brothers Ryan and Jared Smith and their dad, Scott, along with Stuart Orgill, who resigned from the board last year. The company had 1,915 employees as of Sept. 30, and is based in Provo, Utah, the same state where Domo, another newly public software developer, resides.

Qualtrics has more than 9,000 customers, including BlackRock, Kellogg, Microsoft, Mastercard and Under Armour. In addition to SurveyMonkey, Qualtrics said its competitors include Aon Hewitt, Medallia and Willis Towers Watson.

After the Smith family, the biggest shareholders are venture firms Accel, Insight Venture Partners and Sequoia Capital.

— CNBC’s Ari Levy contributed to this report.

WATCH: The IPO is aspirational again, says Goldman Sachs’ top tech banker


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: jordan novet
Keywords: news, cnbc, companies, qualtrics, plans, million, surveymonkey, revenue, venture, cloud, rival, smith, follow, customers, software, markets, company, public


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post