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| | June 2, 2015 | |
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| | Good morning, Data Sheet readers. Several high-profile Cisco executives intend to leave when John Chambers’ replacement Chuck Robbins takes over next month. NetApp replaced its CEO, and Microsoft sued the IRS for more information related to the agency’s audit into how the software giant accounts for certain offshore profits. Plus, read on for a flood of funding news, led by the $80 million round for cloud expense management company Coupa Software. Have a productive Tuesday! | |
| | TOP OF MIND | |
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| | Cisco shakeup. Here's what's official. Two presidents, Gary Moore (who was also COO) and Rob Lloyd (who led development and sales) will leave as part of a restructuring intended to create a "flatter" organization. Both were potential candidates for the CEO spot that will be claimed by Chuck Robbins in July. Here's what's unofficial as of right now: it looks like the company's high-profile chief technology officer, Padmasree Warrior, is also leaving. | |
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| | TRENDING | |
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| | Why GE's Jeff Immelt is paranoid. For one thing, it helps him anticipate change. For another, Immelt been around 14 years. That's longer than the average CEO tenure but necessary for executing on long-term strategy shifts. "In order for companies to be successful, you need a horizon to be able to make changes," Immelt told Fortune last week during the first edition of its new video interview show, The Chat. NetApp swaps CEOs. Tom Georgens, who was also chairman, is out barely two weeks after the company delivered a disappointing outlook. The storage company promoted George Kurian, executive vice president of product operations, to the post. Independent director Mike Nevens, a former McKinsey & Co. partner, is now chairman. "These changes are aimed at speeding the company's movement to its next phase of innovation and growth," Nevens said in a statement. Microsoft-IRS fight escalates. The software giant last week sued for more information about why the tax agency has hired David Boies, the lawyer who successfully argued the antitrust case against the company back in 2000. Microsoft is the subject of an ongoing audit, focused on whether it owes back taxes—a whopping $29.6 billion according to the Bloomberg update on this situation. Meanwhile, Google faces another complaint in Europe. This one was filed by mobile app developer Disconnect, which sells privacy and security software for the Android operating system. Its complaint claims that Google yanked its app because it interfered with the search giant's advertising and analytics services. A broader antitrust investigation is still under way. | |
| | THE PITCH | |
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| | Why you should know this marketing analytics startup Did you know that 40% of Apple Watch customers in April bought more than one model? Or that almost two-thirds of buyers opted for a white or black wristband during that same timeframe? Marketing analytics startup Jumpshot, which boasts a panel of 107 million consumers and analyzes more than 5 billion clicks daily, in May scored $22 million in Series A funding to help surface metrics such as these. Its big backer is security company Avast Software, which also happens to provide Jumpshot with a large portion of the data used in Jumpshot's calculations, said CEO Deren Baker, who joined the company about six months ago after a stint as COO with travel commerce company Switchfly. "The sheer volume and diversity of the data allows our predictions to be more statistically significant," Baker told Fortune. Why is Jumpshot's platform different from the other services—such as Quantcast, Compete, SimilarWeb or Hitwise—that track consumer's digital behavior? For one thing, it collects clickstream data at a deeper level, which means it can provide a much more detailed picture of activity, including the social media behavior or marketing campaigns that might have inspired it, according to Baker. "Https data and persistent user IDs allow us to go beyond reporting discrete moments in the customer journey to also reveal why particular events took place," he said. For example, Jumpshot's analysis of Airbnb reservations from January to March was showed that 11% of the company's 500,000 U.S. listings had reservations—almost 88% of those bookings were for groups of two to four people. That begs the question: could the site benefit from marketing more to business travelers? Jumpshot doesn't disclose customer names on its web site, and Baker wouldn't name any during an interview. The launch funding will be used by the 50-person company to scale its two primary services: a basic platform priced at $349 per month that businesses can use to examine market trends or benchmark performance against competitors; and a service that marketers can use to analyze specific questions. Share this article: http://fortune.com/2015/06/01/jumpshot-22-million/
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| | FUNDING FREE-FOR-ALL | |
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| | Coupa Software snags $80 million to cut corporate spending. The cloud software startup, which helps the likes of Salesforce, Sanofi and Swiss Re drive down procurement costs, nearly doubled its backing with an oversubscribed round. The financing was led by T. Rowe Price Associates along with Iconiq Capital and Premji Invest. Existing backers Crosslink Capital, Battery Ventures, and El Dorado Ventures also participated. The new money bring Coupa's total funding to $165 million. Coupa CEO Rob Bernshteyn said his company "isn't big on" discussing its valuation, but he confirmed it is in the billion-dollar range. More important, in his mind: the investment gives Coupa the cash to invest in more sales and marketing resources, along with additional research and development. The company, which employs about 400 people total, has more than doubled its engineering team in the past 18 months, Bernshteyn said. Coupa touts its flagship offering as a "savings as a service" system that helps businesses reduce the cost of buying everything from information technology to buying raw materials to orchestrating corporate travel. The company figures it has helped its more than 500 corporate customers save around $5 billion; its system handles more than 1 million transactions daily. (More details on its strategy.) $45 million to improve employee feedback. HireVue, a startup that uses video webcams and predictive analytics to make recruiting more scientific and scalable, is turning the lens on your existing employees with a new offering called Team Acceleration. The Utah company closed another $45 million in funding led by Technology Crossover Ventures to fund the new system. HireVue's existing clients include ExactTarget, Facebook, and Netflix. Earlier corporate testers of its new approach include Hilton and Honeywell, said HireVue CEO Mark Newman. From systems integrator to software purveyor. Saama Technologies, which has created a series of prepackaged, industry-centric analytics services, raised $35 million in a Series A funding round led by Carrick Capital Partners. The company, which got its start in 1997, counts Delta Dental, PayPayl, Saleforce, and Unilever as customers. Its new solutions are initially focused on five areas: healthcare, lifexceinces, insurance, consumer packaged goods, and high tech. More money for protection against advanced threats. Security rookie Cyphort, which counts Netflix and Tribune Co. as clients, closed $30 million in Series C financing led by Sapphire Ventures. Existing backers Trinity Ventures, Foundation Capital, and Matrix Partners also upped their investments. The new financing brings Cyphort's total backing to $53 million. DataScience snags $6 million. The analytics company plans investments in sales and marketing resources, among other things. Its customers include Sonos, Belkin, and Jarden. | |
| | ALSO WORTH SHARING | |
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| | Preview of coming attractions. Here's what could be included in Apple's new subscription TV service, which may or may not be announced next week at its big annual developers conference. EMC's cloud strategy: diverse or downright confusing? After its Virtustream acquisition, it's got some explaining to do. BlackBerry prevails. Typo Products, the smartphone accessories company backed by Ryan Seacrest, will stop selling a case that adds a physical keyboard to the iPhone. The issue: it too closely resembles BlackBerry's iconic design. Under the agreement to settle an ongoing lawsuit, Typo can sell the model it makes for iPads and tablets. Twitter is simplifying its marketing partner programs. There's now just one, and the first company on board (no big surprise) is IBM. Microsoft adds to mobile apps portfolio. Its latest acquisition is Wunderlist, a to-do application sold by a Berlin software startup. The deal size wasn't disclosed, but The Wall Street Journal sizes it between $100 million and $200 million. Netflix is testing advertising, inserted into its original video programming. This is what Pinterest's "action button" for e-commerce services might look like. One year after admitting it has a workplace diversity issue, Google hasn't made much progress on changing things. | |
| | MY FORTUNE BOOKMARKS | |
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| | Ellen Pao plans appeal of sexism case she lost to VC firm by Kia Kokalitcheva Millennial men more likely to stray when their wives earn the pay by Erik Sherman What the Surreal Vision acquisition means for Oculus by John Gaudiosi This new phone is literally called the 'Selfie' by Jen Wieczner Amazon is selling a discounted Kindle bundle for kids by Robert Hackett Check out LEGO's Minecraft killer by John Kell | |
| | ONE MORE THING | |
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| | You, too, can create a successful YouTube business like breakout makeup guru Michelle Phan. | |
| | MARK YOUR CALENDAR | |
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| | Apple Worldwide Developers Conference: Future of iOS and OS X. (June 8 - 12; San Francisco) Hadoop Summit San Jose: Mainstreaming adoption. (June 9 - 11; San Jose, California) Red Hat Summit: Energize your enterprise. (June 23 - 26; Boston) Brainstorm Tech: Fortune's invite-only gathering of thinkers, influencers and entrepreneurs. (July 13 - 15; Aspen, Colorado) LinuxCon North America: All about open source. (Aug. 17 - 19; Seattle) VMworld: The virtualization ecosystem. (Aug. 30 - Sept. 3, 2015; San Francisco) Dreamforce: The Salesforce community. (Sept. 15 - 18; San Francisco) Cassandra Summit: Largest gathering of Cassandra database developers. (Sept. 22 - 24; San Francisco) BoxWorks 2015: Cloud collaboration solutions. (Sept. 28 - 30; San Francisco) Workday Rising: Meet and share. (Sept. 28 - Oct. 1; Las Vegas) HP Engage: Big data, big engagement. (Oct. 4 - 6; San Diego) Gartner Symposium ITxpo: CIOs and senior IT executives. (Oct. 4 - 8; Orlando, Florida) Grace Hopper Celebration of Women in Computing: World's largest gather of women technologists. (Oct. 14 - 16; Houston) Oracle OpenWorld: Customer and partner conference. (Oct. 25 - 29; San Francisco) QuickBooks Connect: SMBs, entrepreneurs, accountants and developers. (Nov. 2 - 4; San Jose, California) | |
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