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Chip design firm Arm seeks up to $52 billion valuation

Plus: Google’s latest Android feature updates come with a refreshed logo 

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Cash Nut
September 06, 2023

In Today’s Edition

  • E-commerce loan startup Wayflyer confirms $1B deal from Neuberger Berman

  • A Saas management platform Josys secures $93 M

  • Taylor Swift’s Eras Tour concert movie could make $100 million in its first weekend

  • Apple to Launch 'Low-Cost' MacBook Series Next Year to Rival Chromebooks

  • Google’s latest Android feature updates come with a refreshed logo

  • It’s time to put oceans to the test in the climate fight, scientists say

🚀Startups Nuts

Wayflyer raised $1B from Neuberger Berman to fund e-commerce revenue financing. This will help maintain a low debt-to-equity ratio and result in favorable terms. Wayflyer uses data analytics to aid loan and repayment decisions, giving them a predictive edge. Investors have faith in the company's approach, despite e-commerce industry challenges. The funds will be used to expand Wayflyer's presence in the US.

Josys, a Saas management platform, has secured $93 million in Series B funding to expand globally and double its product and engineering team. The platform has tripled its customer base to 300 companies and generates revenue through net revenue retention rates over 140%. Josys oversees the entire life cycle of IT devices, including Shadow IT detection and real-time tracking of SaaS usage and assets. The company plans to provide services in over 100 countries by 2025 and aims to create a "Better Systems, Better World" by providing a next-generation LifecycleOps platform for managing applications and devices that are efficient and secure for businesses of all sizes.

🏭Business Nuts

Chip design firm Arm on Tuesday submitted an updated filing for its upcoming blockbuster initial public offering on the Nasdaq stock exchange, setting a price range between $47 and $51. Only 9.4% of Arm’s shares will be freely traded on the Nasdaq. Arm was previously dually listed in London and New York before SoftBank acquired it for $32 billion in 2016.

Days after Taylor Swift announced her Eras Tour concert film would come to domestic movie theaters in October, tickets have been selling fast. While it’s early, some box office analysts see a potential $100 million opening for the film. The movie is set to open Oct. 13 in several North American theater chains.

📱Tech Nuts

Apple is developing a low-cost MacBook series to compete with Chromebook models. The new line could be launched as early as the second half of 2024. It will have a metal casing made out of different materials from other MacBooks. Educational institutions have rapidly adopted Chromebooks over the last few years compared to iPads. This is the first rumor regarding the new MacBook series, so expectations should remain guarded.

Google is rolling out new updates to its mobile apps and services. The At a Glance widget will offer more helpful information about events, travel, and local weather. Wallet will be updated to make it easier to upload passes with barcodes or QR codes. The Lookout app will be able to describe scenes intelligently and answer follow-up questions. Android Auto is getting the ability to join audio-only Zoom and Webex calls. The Android logo has been redesigned.

🔥Newsletter Spotlight

The best way to keep up with cybersecurity market trends - who are raising money, getting acquired, and the startup economy.

🎁Miscellaneous

More than 200 scientists have signed a letter calling for responsible research into ways to trap carbon dioxide in oceans. The group wants to take urgent action on the climate crisis without triggering any new problems by using oceans to help the fight. There are a lot of unknowns about the side effects of adding more carbon dioxide into the sea. The letter calls for controlled field trials to evaluate carbon removal strategies, third-party reviews of trial results, and safeguards to prevent unintended or adverse consequences.

💡What else are we reading and seeing?

  • The Engineer’s Guide to Career Growth — Advice from My Time at Stripe and Facebook

  • Every Billable Hour is Amateur Hour

  • How to disable Chrome’s new targeted ad tracking

  • Chandrayaan-3: Isro puts India's Moon lander and rover in 'sleep mode'

  • Want to make a difference on policy and governance? Become an expert in something specific and boring

  • If you can use open source, you can build hardware

  • Barbenheimer can’t save the movie industry

  • Pros and cons for upgrading to the new iPhone 15

  • TikTok has transformed the concert experience

  • How to turn every adversity you face into an advantage

  • How to become a morning person

😎Fun Fact

The electric chair was invented by a dentist, Alfred P. Southwick

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