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Sierra Secures $175 Million Funding Led by Greenoaks Capital, Valued at $4.5 Billion

With a value of $4.5 billion, Sierra, a software business cofounded by former Salesforce coCEO Bret Taylor, has secured $175 million in a fundraising

With a value of $4.5 billion, Sierra, a software business cofounded by former Salesforce coCEO Bret Taylor, has secured $175 million in a fundraising round headed by Greenoaks Capital. Less than a year after its public debut, Sequoia Capital and Benchmark made a $110 million investment at a valuation of around $1 billion. Serving wellknown customers like WeightWatchers and Sirius XM, Sierra is an expert in AIpowered customer care chatbots for businesses, with an annualised revenue of over $20 million. In a competitive market, the firm stands out for its emphasis on minimising "hallucinations" in AI replies. Taylor, a wellknown personality in Silicon Valley, has highlighted Sierras special status in addition to his position at OpenAI. Read More..

B2B Tech News | 1 months ago        

Swiss Firms Boost Investments in India Amid $100 Billion Trade Deal and Economic Partnership

A $100 billion trade pact that offers lower tariffs and faster market access is driving Swiss firms, such as ABB and Kuehne+Nagel, to increase their i

A $100 billion trade pact that offers lower tariffs and faster market access is driving Swiss firms, such as ABB and Kuehne+Nagel, to increase their investments in India. As Indias economy surpasses Chinas with anticipated growth rates of 7% this year, this change represents a rising tendency among European businesses looking to mitigate the effects of U.S.China trade tensions. Swiss investment is anticipated to be further encouraged by the recent trade and economic alliance with the European Free Trade Association. For example, ABBs activities in India have grown dramatically, with the company completing eight projects since 2023 and growing from 6,000 to 10,000 employees. This action demonstrates Switzerlands continued commitment to China and the growing significance of India as a significant market for investments. Read More..

B2B Tech News | 1 months ago        

WTO Delays Ruling on Indias ICT Import Duties Amid Calls for Further Negotiations

India and Chinese Taipei have requested that the WTOs dispute settlement body DSB postpone the implementation of a verdict against Indias import taxes

India and Chinese Taipei have requested that the WTOs dispute settlement body DSB postpone the implementation of a verdict against Indias import taxes on certain IT items. Following many prior delays granted by the DSB, both sides requested more time until April 25, 2025, in a recent conference in Geneva, to enable a consensual settlement of the issue. On April 17, 2023, the EU, Japan, and Chinese Taipei filed a lawsuit claiming that Indias import taxes on certain ICT items violated international trade standards. India claims it is exempt from the requirement to remove customs taxes since these goods fall under the WTOs Information Technology Products ITA1 accord. Read More..

B2B Tech News | 1 months ago        

HSBC Reports 10% Profit Surge in Q3, Posts $8.5 Billion Pretax Profit, Beats Analyst Expectations

In the third quarter, HSBC Holdings beat analyst projections of $7.6 billion with a pretax profit of $8.5 billion, up 10% from $7.7 billion the previo

In the third quarter, HSBC Holdings beat analyst projections of $7.6 billion with a pretax profit of $8.5 billion, up 10% from $7.7 billion the previous year. With a strong emphasis on Asia, the Londonbased bank announced a $3 billion share purchase in addition to its $6 billion program. After the findings, Hong Kong equities increased by more than 2%. The banks activities were merged to improve efficiency and reduce expenses, and its geographic emphasis was divided under the new CEO, Georges Elhedery. Although interest rates are expected to fluctuate, HSBC hopes to maintain a return on tangible equity in the midteens for 2024 and 2025. The bank per share will distribute a 10cent interim dividend. Read More..

B2B Tech News | 1 months ago        

AT&T Signs $1 Billion Deal with Corning to Boost Fiber Internet Services Amid Stagnant Wireless Market

A $1 billion multiyear deal has been reached between AT&T and Corning to improve AT&Ts highspeed internet services by acquiring fibre, cable, and conn

A $1 billion multiyear deal has been reached between AT&T and Corning to improve AT&Ts highspeed internet services by acquiring fibre, cable, and connection technologies. As the U.S. cellphone industry slows and broadband firms like Comcast gain market share, AT&T and rival Verizon focus on highspeed internet. As demand for packaged services that combine fibre internet with cellular plans continues to rise, the alliance seeks to lower implementation costs while facilitating network growth and performance improvements. AT&T will achieve 30 million fibre passings by 2025, with 28.3 million reported in the third quarter. However, subscriber additions did not meet estimates because of a labour stoppage that affected fibre installations. Read More..

B2B Tech News | 1 months ago        

Storebrand Asset Management Sells Holdings in Palantir Technologies Over Human Rights Concerns

One of the biggest investors in the Nordic area, Storebrand Asset Management, has sold its shares in Palantir Technologies because of worries over the

One of the biggest investors in the Nordic area, Storebrand Asset Management, has sold its shares in Palantir Technologies because of worries over the companys work with Israel, which may be against human rights and international humanitarian law. Citing Palantirs sales of goods for use in occupied Palestinian areas, the asset manager, who is in charge of over $91.53 billion in assets, said that it has cut the business out of its investment portfolio. Peter Thiel cofounded Palantir, which offers AI models for military use and has come under fire for its alliance with Israel in the midst of the Gaza crisis. Storebrands move comes after the Norwegian government advised against doing business in Israeli settlements in Palestinian territory. Read More..

B2B Tech News | 1 months ago        

IMF Reports Improved Economic Outlook for SubSaharan Africa Amid Ongoing Challenges

The International Monetary Fund IMF said that although subSaharan Africas economic outlook is improving, high poverty rates, a lack of employment pros

The International Monetary Fund IMF said that although subSaharan Africas economic outlook is improving, high poverty rates, a lack of employment prospects, and poor governance continue to make reform implementation difficult. The IMFs most recent Regional Economic Outlook predicts average growth of 3.6% this year and 4.2% in 2025, but several nations inflation rates are still in the double digits. Policymakers must balance addressing significant development needs and stabilising macroeconomic circumstances in the face of slow growth and limited funding. Rebuilding public confidence requires strengthening social safety nets, safeguarding vulnerable groups, and improving governance, according to the IMF, which also states that passivity is not an option for sustainable development. Read More..

B2B Tech News | 1 months ago        

Korea Zinc’s 9.85% Share Buyback Fuels Stock Surge Amid Control Battle

On Monday, Korea Zinc 010130.KS declared that it had repurchased 9.85% of its shares for $1.5 billion to stop shareholders from selling to private equ

On Monday, Korea Zinc 010130.KS declared that it had repurchased 9.85% of its shares for $1.5 billion to stop shareholders from selling to private equity company MBK and significant investor Young Poong. Amid a power battle between the Chang family of Young Poong and the Choi family, who own Korea Zinc, Bain Capital also acquired a 1.41% share in the business. The repurchase raised anticipation for a protracted takeover war, sending shares up 10% to a record high. MBK has called for an extraordinary shareholder meeting to strengthen governance and proposed 14 new directors. With a 7.83% interest, the South Korean National Pension Service is anticipated to affect the result significantly. Read More..

B2B Tech News | 1 months ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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