London’s burgeoning fintech scene is about to get a bit bigger as a US start-up with a board of former Wall Street chief executives starts expanding internationally.
Orchard, a online direct lending platform, just raised $12m in venture funding with plans to open an office in London to tap into the UK’s growing demand, and government support, for direct lending.
Television’s $70bn advertising business isn’t dead yet. So says John Wren, chief executive of Omnicom, one of the world’s biggest advertising companies.
But Mr Wren’s message on Tuesday may be cold comfort to network executives who are seeing digital outlets grab more money once firmly earmarked for broadcast and cable.
“I believe that trend will continue. I don’t think TV’s dead,” Mr Wren told investors on Omnicom’s earnings call on Tuesday. He is the latest industry executive to acknowledge that the digital ad business is getting a boost from the proliferation of online content and from the valuable targeting data held by companies like Facebook. Read more
The Silicon Valley crowd loves Nest’s $250 thermostats and $99 smoke alarms. But while its $3.2bn acquisition by Google confirmed Nest as a defining company of the smart home, for many its designer appliances might seem a little on the pricey side.
Enter Leeo, a new smart-home company that wants to be the Nest for the rest of us. Read more
Barely two months after Apple admitted it was storing users’ data online in mainland China, reports emerged that hackers have tried breaking into its iCloud data.
Apple representatives in China declined to comment on the reports of the hacking attack, which were posted on GreatFire.org, a group that conducts research on Chinese internet censorship.
The revelations, if true, would be little surprise to China observers. But it would be a comeuppance for Apple whose decision to store users’ data in mainland servers underlined the tenuous balance that foreign tech companies must strike between commitment to customer security and the realities of the Chinese market. Read more
Apple just disrupted another industry: the analysts who are tasked with predicting its quarterly numbers.
During Monday’s earnings call, Tim Cook, chief executive, revealed that Apple will not disclose sales figures for its forthcoming Watch when it is released early next year. Read more
Jan Koum, WhatsApp’s chief executive officer and Facebook’s newest board member, apologised today for harassing an ex-girlfriend in a series of incidents that led to a restraining order being taken out against him.
Mr Koum‘s ex-girlfriend said he verbally and physically threatened her, harassed her at work and followed her through the campus of her community college. In court documents, filed in 1996 but discovered by Bloomberg, she also complained of “sexual harassment”. Read more
First it was Vice, then came Buzzfeed. Now, Ozy has become the latest news start-up aimed at young, digital natives to ramp up its offering on the back of a new injection of cash.
The California company backed by German publisher Axel Springer and Laurene Powell Jobs, widow of Apple co-founder Steve Jobs, is stepping up advertising and has hired Jonathan Dahl to become news editor from the Wall Street Journal. Read more
Google faces a lot of questions on Europe’s new right to be forgotten ruling.
Should it notify a news website that it taking down links to one of its stories in its search results? Can famous people remove links to information about them created before they began to make headlines? Should those who fail to understand Facebook’s privacy settings be able remove information held in their social network profile from Google’s search results?
At London swing of Google's advisory council hearings on #rtbf. Unlike the search engine, lots of questions, few answers
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These were among tricky dilemmas put today to Google’s “advisory council”: a group of independent experts advising the company on how to implement the European Court of Justice’s controversial decision in May. The court gave people the right to ask internet search engines to remove sensitive or embarrassing links to websites for queries that include their name. Deluged with hundreds of thousands of such takedown requests, Google wants the council to help develop policies to deal with the most difficult of cases.
Angry Birds may be in free fall but two of the executives most responsible for its success are spreading their wings.
Just days after the company behind Angry Birds cut 16 per cent of its workforce amid disappointing growth, two former Rovio executives are launching their first game backed with $5m of venture capital money.
Andrew Stalbow, former head of strategic partnerships at Rovio and now chief executive at Seriously, said he hoped Thursday’s launch of Best Fiends would be the start of creating a mobile phone-centred entertainment brand. Read more
Apple has invited reporters to an event on October 16, which is expected to see the debut of new iPads and Mac computers. Read more
Start-up Product Hunt, not yet one year old, may be setting new records for fastest fundraisings and longest list of big name investors.
The announcement of a new Windows isn’t what it used to be – even when you skip past little-loved 9 (a number which didn’t test well with focus groups, apparently) and jump straight to Windows 10.
But converging the different Windows operating systems on a single core, with distinct user interfaces suited to each type of device, is still an important step forward for Microsoft. It also represents the sort of evolution that might, in time, allow the Windows 8 debacle to fade into history. Read more
Apple is making a big splash in Europe this week. On the same day the European Commission published the initial findings of its investigation into Ireland’s handling of its taxes, Apple popped up at Paris Fashion Week to show off its forthcoming Watch to the general public for the first time.
In a clear break with previous launches, Apple chose a chic fashion boutique, rather than its own retail stores, as the venue, giving a hint of how the smartwatch might be marketed and distributed when it goes on sale next year. Read more
One of the early investors in payment processing start-up Stripe is upping its investment. Not in the company itself, valued earlier this year at near $2bn, but in the ecosystem of other start-ups that is slowly coalescing around it.
General Catalyst, an early investor in Stripe, is putting up $10m fund to invest in start-ups that offer services, like analytics or other business analysis tools, tied to the company’s Stripe Connect platform. Read more
Google has mocked News Corp for this anti-EU headline in the Sun
Google has responded to criticism from Rupert Murdoch’s News Corp that it is dominant, anti-competitive and bad for media companies. So where are the key battle lines, and how convincing are Google’s arguments?
Point 1: How dominant is Google?
News Corp said: “[Google’s] power increases with each passing day”. Read more
Apple’s latest iPhone has been has been hailed as the thinnest and biggest mobile device it has created yet. But those qualities may have created an unexpected problem: the gadget may have a tendency to “bend”.
Lewis Hilsenteger of product review site Unbox Therapy has published a video that has gone viral (over 3m views and counting), in which he conducted a not-so-scientific “bend test” on the phone. Using his hands to apply pressure on the back of the device while pulling the edges back, he found that the device was warped.
“Will this happen in your front pocket?” asked Mr Hilsenteger. “That probably depends on how tight your pants are.”
Ray Ozzie, the man who once filled Bill Gates’ very big shoes as chief software architect at Microsoft, is back.
His latest start-up – a voice-powered collaboration tool for workers – looks like a not-so-subtle snub of his former employer. It is, he says, what Skype (now owned by Microsoft) might have become, had it not given up on “innovation in depth”. Read more
The virtual-reality creations on show at this weekend’s Oculus Connect event were as varied as they were bizarre.
Some 800 overwhelmingly male developers gathered at the upmarket Loews Hotel in Hollywood to attend presentations ranging from game design to “360-degree filmmaking”. A session dedicated to the Gear VR, Oculus’s collaboration with Samsung to launch a mobile VR headset later this year, was particularly busy.
Outside the talks, developers lined up to try Oculus’s new Crescent Bay prototype device and showed off their own VR software – just some of the 325 games uploaded to Oculus Share, its version of an app store. Read more