Airbnb has made its biggest product announcement in its eight-year history – will it take off? November 21, 2016 Downtown Los Angeles was, until recently, an area more famous for Skid Row, but regeneration has brought trendy bars, foodie markets, and the likes of Urban Outfitters and Ace Hotels, creating a spot that feels not a million miles away from Shoreditch. This was the backdrop for multi-billion-dollar startup Airbnb’s biggest product announcement in its [...]
Powa founder Dan Wagner paid £50,000 to another company before administrators were called in on fintech unicorn November 20, 2016 The former owner of collapsed fintech start-up Powa Technologies paid £50,000 to a company he owned in January this year, shortly before administrators were called in to break up the company. Dan Wagner, the charismatic founder of the London-based firm, paid the money to Bright Station Ventures in January of this year, as was first reported [...]
Facebook to launch $6bn share buyback programme from first quarter of next year and accounting chief Jas Athwal to resign in February November 19, 2016 Facebook Inc will buy back up to $6bn (£4.8bn) of its shares, starting in the first quarter of next year. The social media behemoth's board of directors authorised the repurchase programme of Class A common stock, which does not have an expiration date, according to filings with the US Securities and Exchange Commission. Shares were [...]
Stay calm: The Sword of Damocles is not hanging over Britain’s fintech sector post-Brexit November 18, 2016 In times of uncertainty, it helps to stay calm and focused on the job at hand. At Innovate Finance, we see ourselves as the rational voice of the UK global fintech community. A big part of our job is promoting our members and fintech – not in a cheerleading capacity, but through rational analysis and [...]
Three Mobile has become the latest high-profile victim of a cyber attack November 18, 2016 Mobile network Three has become the latest high-profile victim of a major cyber-security attack. The breach could put the private information of two-thirds of the company’s 9m customers at risk, the Daily Telegraph reported. Read more: TalkTalk boss Dido Harding: Customers "trust us more" after cyber attack Three men have reportedly been arrested in connection [...]
London’s still the number one city in Europe for digital startups November 18, 2016 Nobody is taking London’s crown as the best city in Europe for digital entrepreneurs. Not yet anyway. For the second year in a row, it has been crowned the best EU city for digital entrepreneurs. According to innovation foundation Nesta and the European Digital Forum’s European Digital City Index, the capital is still the best city [...]
Tesla’s takeover of SolarCity has just been approved by shareholders November 17, 2016 Tesla Motors' acquisition of SolarCity is on after it was revealed tonight it had received the green light from shareholders, according to various reports. By bringing the two firms together, Tesla chief executive Elon Musk has previously said he hopes to create a one stop shop for customers looking to pick up solar panels, home batteries and [...]
Airbnb wants to sort out your entire travel itinerary way beyond home rental November 17, 2016 Airbnb wants to arrange your entire trip for you, not just find you a place to stay. The startup has set out ambitious plans to expand beyond simply being a holiday home rental platform, to turn itself into the go-to app for people's entire holidays with the addition of local trips, meetups, restaurant bookings and more. [...]
Sports software company Zwift secures bumper investment from London private equity house November 17, 2016 A software company promising to turn indoor sport on its head announced a $27m (£22m) investment from a London-based private equity house. Zwift, which currently focuses on creating an outdoor virtual reality for indoor cycling, said the cash boost would give them the "powder" to take the business to the next level. Gaming private equity specialist Novator Partners provided the [...]
E-cigarette innovation is stalling, a leading doctor has warned November 17, 2016 Innovation in electronic cigarettes will stall unless a bridging approach to new product regulations is made. New variants of e-cigarettes and next generation products risk being tied up in development, said James Murphy, head of reduced risk substantiation at British American Tobacco. Murphy gave a keynote speech today at the Next Generation Nicotine Delivery conference in [...]