Dennis Mutua

AutoStore Aiming to Raise $315 Million From its IPO

Norway based unique and simple solution that uses robots and bins to quickly process small parts orders AutoStore says that it’s aiming at feting $315 million from its initial public offering (IPO) on the Oslo Bourse Stock Exchange. This initial public offering will go down as the largest IPO on the market for the last […]

Citibank Launches a Tech Unit in Bahrain Seeking to Expand its Digital Platform Reach

United States investment bank and financial service provider Citibank Inc. (C) has launched a global technology hub at its offices in Bahrain with an aim of expanding its digital platform in the global space. The bank says that it’s looking forward to employ 1,000 coders in the next 10 years. The tech unit is located […]

Google to Cut Down Charges on Sales From its Cloud Marketplace

Alphabet Inc. (GOOGL) the parent company of leading search engine Google announced that it will be cutting down the amount it charges customers who purchase software from other vendors on its cloud marketplace. According to a report released by the company, Google is cutting down its percentage revenue share from 20% down to 3% for […]

Huawei CFO Meng Wanzhou Finally Leaves Canada to China

The chief financial officer of Chinese technology company Huawei Technologies, Meng Wanzhou, left Canada to China for the first time since 2018 when she was put under house arrest following allegations from United States that she gave misleading information concerning the operations of Huawei in Iran. This happened after the United States prosecutors reached an […]

Ninja Van Raises $578 Million in Latest Funding Round

Singapore based logistics company Ninja Van announced having $578 million from the latest financial round it held, the company made this revelation on September 26. Ninja Van which engages in last mile logistics and package delivery announced having added leading Chinese online retailer Alibaba Group Holding Ltd. (BABA) on its balance sheet as an investor. […]

Google to Sue India’s Antitrust Regulator for Leaking Investigational Report

Alphabet Inc. (GOOGL) the parent company of leading search engine Google says that it will sue India’s antitrust regulator, the Competition Commission of India (CCI) following leakage of a confidential CCI report of an investigation conducted by the regulator on Google. Several popular newspapers had headlines reading that CCI investigation finds Google guilty of abusing […]

Apollo Selling Italian Insurance Company Amissima Vita

United States based global investment management company Apollo Global Management (APO) announced having entered into an agreement to sell Italy based insurance company also providing reinsurance services Amissima Vita. Apollo global will be selling the insurance company to Bermuda based insurance and reinsurance company Athora Holding Ltd. This sale deal is subject to various regulatory […]

Philippines Legislators Approves VAT for Big Tech Companies

The lower house of congress in Philippines has approved a bill which imposes a 12% value added tax (VAT) to big technology companies operating in the country. The lawmakers voted 167:6:1 in favor of the bill which affects multinational companies like Google, Facebook Inc. (FB), Apple Inc. (AAPL) and Netflix Inc. (NFLX). The 12% will […]

Freshworks IPO Raises $1.03B Leaving the Company with a $10.13B Market Valuation

Business software company targeting small and medium-sized businesses Freshworks Inc. (FRSH) has just concluded its United States initial public offering (IPO) from which it raised a whopping $1.03 billion leaving the company sitting on a market valuation of $10.13 billion. In the IPO, Freshworks sold 28.5 million shares with each share going for $36. The […]

Twitter to Pay $809 Million as Settlement for a 2016 Class Action Lawsuit

Social network company Twitter Inc. (TWTR) says that it will part with $809.5 million to settle a 2016 shareholder class action lawsuit in which it was accused of deceiving investors how frequently individuals use its social media platform. Back in 2016, shareholders of the company sued Twitter after discovering the company artificially inflated the price […]