Exclusive: Supply chain software firm E2open nears deal to go public – sources

(Reuters) – U.S. supply chain management software firm E2open LLC is nearing a deal to go public through a merger with blank-check acquisition company CC Neuberger Principal Holdings I at a valuation of more than $2.5 billion, including debt, people familiar with the matter said on Tuesday.

An agreement could be announced as soon as Wednesday, the sources said, cautioning that talks could still falter. E2open is owned by private equity firm Insight Partners.

The sources requested anonymity because the matter is confidential. CC Neuberger declined to comment. E2open and Insight Partners did not immediately respond to requests for comment.

CC Neuberger I shares rose as much as 10.7% on the news but pared gains to close 3.2% higher at $10.53.

CC Neuberger I is a special purpose acquisition (SPAC), or shell, company that uses proceeds from an initial public offering to acquire a private company, which then becomes public as a result.

Merging with a SPAC has become a popular alternative to going public in a traditional initial public offering, as it involves less regulatory scrutiny and more certainty over the market valuation and funds raised.

So far this year, sports betting platform DraftKings Inc and electric commercial truck maker Nikola Corp have gone public by merging with a SPAC.

Insight Partners took E2open private in 2015 in a roughly $273 million deal. The Austin, Texas-based company sells software that allows companies to manage their supply chain.

E2open’s revenue is around five times what it was in 2015, one of the sources said. It stands to benefit as companies automate their supply chains further in the COVID-19 pandemic.

Led by veteran Wall Street dealmaker Chinh Chu’s investment firm, CC Neuberger I raised $414 million in an IPO in April with the aim of buying a company in the financial,

SpaceX’s Starlink Set To Begin Public Beta. Will It Deliver?

[10/13/2020] Starlink Preps Public Beta For Parts Of U.S & Canada

Last week, Elon Musk indicated that SpaceX’s satellite-based Internet business, Starlink, had launched enough satellites to start public beta services in parts of the northern U.S. and southern Canada. With the launch of about 60 Starlink satellites last Tuesday, SpaceX will have a total of over 770 satellites in orbit. While the company should be able to offer speeds of about 100 Mbps, it plans to launch thousands of more satellites, enabling Starlink to provide Internet at speeds of as much as 1 Gbps to much of the populated world. The success of Starlink will be crucial to SpaceX, which has thus far focused on the relatively niche space launch services business. If Starlink Internet service is able to provide a compelling value proposition compared to traditional broadband in terms of both pricing and performance, SpaceX could have a winner on its hands. Below, we provide a scenario of how Starlink could be worth about $30 billion by 2025.

[2/12/2020] Starlink Valuation: What Could SpaceX’s Starlink Service Be Worth?

SpaceX recently indicated that it could spin off and pursue an IPO for its satellite-based Internet business, Starlink. The Starlink service, which is likely to see operations begin later this year, aims to provide high-speed Internet globally in a cost-effective manner by leveraging a constellation of several thousand satellites. While SpaceX has not given a definitive timeline for an

LA And Microsoft Provide Free Internet to Public Housing Residents

Satya Nadella, chief executive officer of Microsoft, Starry Internet CEO Chet Kanojia, and Los Angeles Mayor Eric Garcetti (Credit: Drew Angerer/Getty Images, Alex Wong/Getty Images, and Gabriel Rossi/Getty Images)
Satya Nadella, chief executive officer of Microsoft, Starry Internet CEO Chet Kanojia, and Los Angeles Mayor Eric Garcetti (Credit: Drew Angerer/Getty Images, Alex Wong/Getty Images, and Gabriel Rossi/Getty Images)

The City of Los Angeles and Microsoft have partnered up to provide free internet services for six months to thousands of South L.A. public housing residents.

Mayor Eric Garcetti announced the collaboration with service provider Starry Internet, according to the Los Angeles Daily News. Roughly 6,000 residents will benefit from the program, an extension of an existing program.

Starry Internet — Related Companies is a minority investor — began providing free internet to residents at Mar Vista public housing in June, and has committed to offering service through the end of the year.

Microsoft is now providing grant funding to expand that to four more L.A. Housing Authority complexes in Watts — Nickerson Gardens, Jordan Downs, Imperial Courts, and Pueblo del Rio. They have 3,600 units between them.

Residents will be able to continue service with Starry Internet for $15 per month after the six-month period, according to the report.

The Boston-based company has partnered on similar projects with both public and private owners of affordable housing in other cities, including public housing authorities in Denver and Boston.

Starry internet also provides services in some of Related’s market-rate properties. [LADN] — Dennis Lynch

Source Article

Game Platform Roblox Files Confidentially for Public Listing

Online game platform Roblox said Monday that on a confidential basis it had submitted a draft registration statement to the Securities and Exchange Commission for a public offering of common stock.

The San Mateo, Calif., company said it hasn’t determined the number of Class A common shares it will sell and at what price.

Roblox said it intends to commence the public offering following completion of the SEC review.

The company is aiming for a public valuation of about $8 billion, Reuters reported earlier this month. 

That would double the $4 billion valuation it got in a $150 million fundraising round in February led by venture capital firm Andreessen Horowitz. The VC firm said in February that the platform reached more than 115 million monthly users.

The company hosts millions of games that are built by its users, who then get a share of any related revenue. 

“Roblox is powered by a global community of over two million developers who produce their own immersive multiplayer experiences each month using Roblox Studio,” the company said on its website. 

“Our popularity is driven purely by the community with millions of people signing up through word of mouth every month.”

Roblox, which was founded in 2004, said that two-thirds of all U.S. kids 9 to 12 years old use the platform.

In July, Roblox said its developer community was on pace to earn more than $250 million in 2020, more than double 2019’s $110 million.

David Baszucki is the company’s founder and chief executive. Prior to Roblox, he founded Knowledge Revolution, which was acquired by MSC Software in 1998.

Last month, Andrea Wong, who was most recently the president of international at Sony Corp.,  (SNE) – Get Report joined the Roblox board. 

U.S., UK and other countries warn tech firms that encryption creates ‘severe risks’ to public safety

  • Lawmakers from countries within the Five Eyes intelligence-sharing alliance have urged tech firms to develop backdoors that allows them to access encrypted messages.
  • In an open statement, seven nations said that unbreakable encryption technology “creates severe risks to public safety.”
  • While citizens benefit from additional privacy, law enforcement agencies see end-to-end encryption as a barrier to their investigations.



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LONDON — Lawmakers from countries within the Five Eyes intelligence-sharing alliance have warned tech firms that unbreakable encryption technology “creates severe risks to public safety.”

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Ministers from the U.S., U.K., Canada, Australia and New Zealand published a statement Sunday calling on the tech industry to develop a solution that enabled law enforcement to access tightly encrypted messages.

“We urge industry to address our serious concerns where encryption is applied in a way that wholly precludes any legal access to content,” the statement, which was signed by U.S. Attorney General William Barr and U.K. Home Secretary Priti Patel, said.

The statement, published on the website of the U.S. Department of Justice, was also signed by India and Japan, which are not part of the Five Eyes alliance.

Technology companies like Apple and Facebook encrypt user’s communications “end-to-end,” meaning that only users can access their own messages. It applies to written messages, as well as audio and video communications.

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While citizens benefit from additional privacy, law enforcement agencies see end-to-end encryption as a barrier to their investigations and have been calling on tech companies to introduce backdoors that would give law enforcement agencies access.

“We call on technology companies to work with governments … on reasonable, technically feasible solutions,”