TokyoTokyo Mon - Fri 10:00-18:00 +81 (366) 701-751
info@mountequitygroup.com

Blog

Mount Equity Group Tokyo Japan > News

Marqeta closes up 13%, topping $16 billion market cap in Wall Street debut

June 10, 2021

Shares of payment processing company Marqeta closed up 13% after its market debut Wednesday on the Nasdaq. Shares closed at $30.52, giving the company a market cap of just over $16 billion.Marqeta priced just over 45 million shares at $27 apiece on Tuesday, above its initial $20 to $24 target range. The company raised $1.2 billion at an implied $15.2 billion valuation, up from its last private market valuation last year of about $4.3 billion.Marqeta has become one of the hottest businesses in digital commerce. It’s a two-time CNBC Disruptor 50 company and ranked No. 7 on this year’s list.Founded in 2010 and based in Oakland, California, Marqeta sells payment technology that’s designed to detect potential fraud and ensure that money is properly routed. The company issues customized physical cards that look like credit and debit cards, which contractors from DoorDash or Instacart use to make point-of-sale purchases from restaurants or supermarkets.In its IPO prospectus, Marqeta disclosed annualized revenue growth in the first quarter of 123% to $108 million, while its net loss narrowed to $12.8 million from $14.5 million a year earlier. In 2020, annual revenue more than doubled to $290.3 million.The company says the total addressable global market for card payments has reached $45 trillion and is expected to grow to $80 trillion by 2030. The growth is coming from digital banks and other online and mobile services that are using the Marqeta card-issuing platform to offer payment programs to their customers. A decade ago the technology didn’t exist.”We created modern card issuing,” CEO Jason Gardner said on CNBC’s “Squawk Box” Wednesday morning before shares started trading. “Today in the United States there’s nearly $6.7 trillion of card volume and we are simply scratching the surface with $60 billion in volume.”Gardner’s stake in the company is worth nearly $2 billion based on the IPO price.”We either support their core business or we are their core business,” Gardner added. “This really affects a lot of consumers at the point of sale, whether it’s their ability to use Klarna or Affirm or order food on an app like DoorDash or Instacart.”Marqeta says it’s issued more than 320 million cards to its customer to date. Many of its clients are coming off record years as the pandemic pushed commerce to mobile devices.In addition to meal-delivery companies, Marqeta powers Square’s debit card for small business owners and its popular Cash App for peer-to-peer payments. Affirm and Klarna, which provide small-dollar lending to consumers for purchases like bikes and TVs, use Marqeta’s technology to move money with their installment loans. JPMorgan Chase & Co. and Goldman Sachs were the lead underwriters for Marqeta’s offering. SIGN UP for our weekly, original newsletter that goes beyond the list, offering a closer look at CNBC Disruptor 50 companies, and the founders who continue to innovate across every sector of the economy.

US to buy 500M Pfizer vaccines to share globally

June 10, 2021

The US will buy 500 million more doses of the Pfizer COVID-19 vaccine to share through the global COVAX alliance for donation to 92 lower-income countries and the African Union over the next year, a person familiar with the matter said Wednesday.

President Joe Biden was set to make the announcement Thursday in a speech before the start of the Group of Seven summit. Two hundred million doses — enough to fully protect 100 million people — would be shared this year, with the balance to be donated in the first half of 2022, the person said.

National security adviser Jake Sullivan told reporters Wednesday that Biden was committed to sharing vaccines because it was in the public health and strategic interests of the US. As Biden embarks on his first foreign trip, he is aiming to show “that democracies are the countries that can best deliver solutions for people everywhere,” Sullivan said.

“As he said in his joint session (address), we were the ‘arsenal of democracy’ in World War II,” Sullivan said. “We’re going to be the ‘arsenal of vaccines’ over this next period to help end the pandemic.”

The news of the Pfizer sharing plan was confirmed to The Associated Press by a person familiar with the matter, who spoke on condition of anonymity ahead of the president’s formal announcement. The news was first reported by the Washington Post.

President Joe Biden brushes a cicada from his neck as he and first lady Jill Biden prepare to board Air Force One for Biden’s first overseas trip of his term. The US will reportedly buy 500 million Pfizer vaccines to share with other nations, an issue the US has been pressed to discuss.AP

The US has faced mounting pressure to outline its global vaccine sharing plan. Inequities in supply around the world have become more pronounced, and the demand for shots in the US — where nearly 64 percent of adults have received at least one dose — has dropped precipitously.

The announcement comes a week after the White House unveiled its plans to donate an initial allotment of 25 million doses of surplus vaccine overseas, mostly through the United Nations-backed COVAX program, promising infusions for South and Central America, Asia, Africa and others at a time of glaring shortages abroad.

Overall, the White House has announced plans to share 80 million doses globally by the end of June, most through COVAX. Officials say a quarter of the nation’s excess will be kept in reserve for emergencies and for the US to share directly with allies and partners.

The White House has also directed doses to allies including South Korea, Taiwan and Ukraine.

Global public health groups had been aiming to use the upcoming G-7 meetings in Cornwall, England, to press the nation’s wealthiest democracies to do more to share vaccines with the world, and Biden’s plans drew immediate praise toward that end.

“The Biden administration’s decision to purchase and donate additional COVID-19 vaccine doses is the kind of bold leadership that is needed to end this global pandemic,” said Tom Hart, acting CEO at The ONE Campaign, a nonprofit that seeks to end poverty. “This action sends an incredibly powerful message about America’s commitment to helping the world fight this pandemic and the immense power of US global leadership.”

Sullivan told reporters Wednesday that he does not expect the US push to waive the patents on vaccines to cause tension with European counterparts.

“We’re all converging around the idea that we need to boost vaccine supply in a number of ways, sharing more of our own doses,” Sullivan told reporters aboard Air Force One. “We’ll have more to say on that, helping get more manufacturing capacity around the world.”

Globally, there have been more than 3.7 million confirmed deaths from COVID-19, and more than 174 million people have been confirmed infected.

IBM tells U.S. employees they will return to the office in September

June 10, 2021

In this articleIBMA sign marks the entrance to IBM Corporate Headquarters in Armonk, New York.Stan Honda | AFP | Getty ImagesIBM’s U.S. employees will go back to the office the week of Sept. 7, according to a memo sent to staff this week from Chief Human Resources Officer Nickle LaMoreaux.In the memo, which was viewed by CNBC, LaMoreaux said that IBM is working on protocols for fully vaccinated employees to work in the office without masks. In addition, LaMoreaux said IBM is working on health and safety protocols for business travel and meetings with clients from outside the company.The memo didn’t specify whether or not employees will have the option to continue remote work either full or part time, but did say IBM has “long-established practices and policies supporting work life balance which will continue as we return to the office.”The return to work plan only applies IBM’s employees in the U.S., where Covid-19 cases have dramatically fallen in recent months amid a massive vaccination drive across the country. IBM operates in 175 countries.Also on Wednesday, Facebook clarified its post-pandemic work plans. CEO Mark Zuckerberg said most employees would be allowed to work remotely if their jobs didn’t require them to be in the office.–CNBC’s Hugh Son contributed to this report.

Here are the most important new changes coming to your iPhone this fall

June 10, 2021

Apple’s iOS 15 update will bring lots of new features to your iPhone when it launches this fall. Apple announced the latest iPhone software this week during its big annual developer conference when it highlighted some of the changes.The update will give you more options for FaceTime video chat including, yes, finally talking with friends on Android. It also brings new privacy features that help protect your email and show you how often apps access things like your camera and microphone. And later this winter, you may even be able to add your driver’s license to Apple Wallet, depending on where you live.There are a lot of changes, but I’m going to highlight some of the ones that stand out most to me. They’re available for developers to test now and anyone will be able to test a beta version starting in July. Otherwise, expect to see these on your iPhone in the fall. It’ll be available for the iPhone 6s and newer.FaceTime SharePlayApple iOS 15 will let you watch movies, TV shows and more with friends over FaceTime.AppleFaceTime is getting a few new features. One is called SharePlay. Once you start a FaceTime video call with someone (or multiple people), you’ll be able to open supported apps like Disney+, Hulu, TikTok and other apps, and then watch a movie or TV show together. Viewers can pause or fast forward and everything will stay in sync. You can even switch to chatting over iMessage while watching or share your screen. It works across iPad, Mac and iPhone.FaceTime with Android and Windows usersApple iOS 15 will let you FaceTime with Android and Windows users.AppleYou’ll be able to bring Android and Windows friends into your FaceTime video chats. Anyone with a Mac, iPad or iPhone will see a new button to create a link for a FaceTime video, which can be shared with users on non-Apple devices. You’ll need to let those users into the chat, too, so you don’t have to worry about the link being passed on to other folks and random people showing up in the chat. Your driver’s license in Apple Wallet (and keys, too!)Wallet and keysSource: AppleApple will soon let you store your driver’s license in the Apple Wallet app on your iPhone. That means, to start, you won’t have to pull out your license to move through TSA at the airport. This feature will come in the winter and Apple is working to get approval state-by-state. You’ll still need your driver’s license in case you get pulled over, since it will only be accepted by the TSA when it launches.And speaking of the wallet, you’ll soon be able to store digital keys to your house in Apple Wallet. If you have a supported HomeKit smart lock at home, or even at the office if your workplace offers it, you’ll be able to tap your phone to unlock the door. And you’ll be able to share temporary or permanent digital keys with other visitors.New iMessage featuresApple iOS 15 includes new updates to Messages.AppleiMessage will start to share relevant information in other apps. So, for example, if someone sends you a link to a news story, you’ll see that in the “Shared with You” section of Apple News with a reminder of who sent the link. It’s convenient if you want to read a story later but don’t want to go digging back through hundreds of messages to find the link.And if someone sends a picture (not a meme or a screenshot), it’ll appear in “Shared with You” in Apple Photos. This applies to links in Safari, podcasts, and movies and TV shows in Apple TV. Also, instead of seeing a long list of pictures when someone sends many, you’ll get a clean stack of photos you can flip through.Identify animals, items and plants in photosApple iOS 15 will let you search things in your photos.AppleYour iPhone will be able to identify and tell you more information about an animal, a landmark, a plant or an object, like a book. A small icon will appear on top of photos in your gallery and, with a tap, it can identify a pet’s dog breed and show you more information, for example. Or a flower with some background on the plant. The feature is similar to the one that’s been available on Android phones called Google Lens.Block out messages and notifications at certain times with FocusZoom In IconArrows pointing outwardsFocus in iOS 15 lets you tell other’s you aren’t available.AppleI’m excited for this. A new “Focus” feature will only allow notifications from people and apps you’ve pre-approved at a certain time.The idea is that, when you just want to sit down and read, or don’t want your phone buzzing after a certain hour, you won’t see random apps spamming notifications or texts from people you don’t need to hear from in the moment. And recipients will see if you’re focusing, with a message that says, for example, “Todd has notifications silenced with Focus.” If it’s urgent, the sender can push the message through anyway.Apple WWDC21Source: AppleYou can create Focus settings for lots of things: work, play, sleep and more. And each will let you create a custom home screen, so you only see (but can still access) certain apps, too. Maybe you create a home screen for work apps, and another for apps you use when you’re at home, for example.Big changes to Apple MapsApple MapsSource: AppleApple finished rolling out a full redesign to its apps map last year, but it’s already back with another big update. Among lots of other things, it offers improved driving directions with more clearly marked lanes, crosswalks and more. And there’s a really cool 3D model that shows elevation and points of interest in major cities. The new maps will work in San Francisco first, followed by Philadelphia, New York, London, Washington and Los Angeles before it spreads to other cities.And speaking of your location. iOS 15 will also provide more public transit information, including real-time alerts for when you need to get off the bus, train or subway. There’s even a new augmented reality feature that, like in Google Maps, overlays more information over the real world so you can see where you’re going.Updates to the Safari browser including searching the web by voiceZoom In IconArrows pointing outwardsSafari in iOS 15 gets big changes, too.AppleSafari is getting a big update on iPhone, Mac and iPad. It includes a redesign that brings the search bar to the bottom of the page on iPhone, support for saving groups of open tabs (like ones you use for work, or for planning a vacation) that you can reopen on any device and a new option to search the web by voice.Just tap a microphone button and speak what you want to search for and Safari takes care of the rest. Also, extensions are supported on iPhones and iPads for the first time, so you can use plug-ins like Honey to find discount and promo codes while shopping.Translate, copy and interact with text in photosApple iOS 15 can identify text in photos.AppleAny text in any photo can be copy and pasted or translated. So, if you’re reading a menu in another language, you can just take a picture of it and see what it says. Or, you can take a picture of an address or restaurant name and then tap it to get more information in Apple Maps. Another neat example: take a picture of a package and then click the tracking number to follow where the package is through UPS or FedEx. Lastly, you can also tap phone numbers in images to call a place right away.Improved Spotlight searchApple iOS 15 Spotlight searchAppleSpotlight search is the tool you get when you swipe down on the screen to search your iPhone. It’s getting big improvements, too. If you search a contact, for example, it’ll show you the pictures you’ve snapped that that person and any text message links that person has sent you. You’ll get more information about TV shows, movies, artists and musicians and more.Privacy report Apple iOS 15AppleApple will tell you even more about how apps are using your phone. A new privacy report will show you how often an app accesses your microphone, location, photos and camera over the last seven days. And it will show you the servers the app is contacting, so you can see if an app might be sending data to lots of other companies or places. iCloud+ and Mail privacy protectionsApple iOS 15 will let you hide your email address.AppleiCloud+ is a fancy new name for iCloud. You won’t pay more for some of the features, but it includes new benefits. It will hide your online activity using “iCloud Private Relay,” which makes it harder for people to see the sites and other places you visit.PrivacySource: AppleA “Hide My Email” feature that creates a random email address in forms where you need one to sign up, so the recipient doesn’t know your actual one (though you can still receive forwarded emails in your regular address.) And lastly, you’ll get support for up to unlimited HomeKit Secure Video cameras you may have around your house. (The $0.99 per month plan includes support for one camera, but you can add more depending on your plan.)Siri gets fasterSiriSource: AppleSiri is faster for some tasks in iOS 15. New on-device processing means you can ask Siri to do things like set timers and alarms, open apps, control music, turn on the flashlight and more, all without requiring an internet connection. That means those tasks should happen right away, instead of with a slight delay. This feature requires an iPhone XS (the 2018 iPhone) or newer.Create legacy contacts so they can access your account when you dieA new “Digital Legacy’ program lets you set contacts who will be able to access your account when you pass away. This should make it easier for loved ones to get everything off of your device, transfer the ownership of the phone or close an account. It’s currently a difficult and confusing process. Also, a new “Account Recovery Contacts” feature lets you designate certain people who will be able to help you change your password in case you ever forget it and get locked out of your account or certain devices. And moreThere’s a lot more in iOS 15, including changes to AirPods that can help you hear conversations better, new widgets for Apple Apps, system-wide translation and more. But these were some of the highlights that stuck out to me. Also, remember, sometimes Apple introduces a few new features that require the hardware in the newest iPhones, so expect some other changes in the fall.

New York Times taps Stella Bugbee to lead its Styles section

June 10, 2021

The New York Times on Wednesday named Stella Bugbee to edit its Styles section — a day after the embarrassing announcement that New York magazine had hired the paper’s previous Styles editor, Choire Sicha.

Bugbee’s hire at the Times means that she is effectively switching places with Sicha, who is taking her previous job as editor at large at New York magazine. That’s despite the Times strenuously insisting for weeks that Sicha was staying at the paper, and merely leaving the helm of the Styles section in favor of an undefined newsletter project.

“Stella brings to The Times a broad and ambitious vision for Styles coverage, one that embraces fashion and lifestyle even as it explores issues of politics, gender, power and fame,” said the memo from executive editor Dean Baquet, managing editor Joe Kahn and assistant managing editor Sam Sifton.

The memo likewise noted that Bugbee was a “gifted manager.” That’s an area where Sicha was seen as deficient by critics including Times deputy managing editor Carolyn Ryan, who reportedly clashed with Sicha over his hands-off, freewheeling style.

Bugbee, slated to start her new job on June 21, is a former editor of The Cut, the fashion vertical of New York Magazine, and was seen as the odds-on favorite to get the job by many insiders. Her selection for the top job came nearly two months after Sicha’s surprise announcement on April 19 that he was stepping down to become a consultant on a nascent newsletter division.

Stella Bugbee, moderating a 2019 panel of successful women, is being touted as a “gifted manager.”Getty Images for New York Magazine

At least one said the newsletter gig was a “charade” put out until Sicha found a new gig.

“I think they were talking to her before he got fired from the Styles job,” said one insider.

Another said talks may not have officially started until after the Sicha bombshell on April 19 — but she was a known quantity inside the Times, which had tried to lure her away from New York Magazine four years ago.

“She was always on their radar,” said the insider.

Incoming New York Times Styles editor Stella Bugbee is essentially switching places with Choire Sicha, who is now headed to her previous gig as New York magazine’s editor at large. LightRocket via Getty Images

In 2017, sources said the Times had reached out to her before they hired Sicha but she surprised them by turning down the job and staying at The Cut. That’s when, the source said, the Times went to a “bakeoff” involving Sicha, media editor Jim Windolf and Lori Leibovich, who was at the time managing a health vertical for Meredith. The latter has since joined the Times as editor at its Well vertical.

Bugbee meanwhile, after getting a promotion to run The Cut, stepped away in October and became an editor at large at New York — the exact same job that Sicha landed on Tuesday. “It is almost like two sports teams trading stars,” an insider noted.

Alexandra Jacobs, who had been at Styles for a decade and is one of three deputy editors in the section, was known to have put her hand up for the job as well and was seen as the leading inside candidate. It’s unclear if she will stay at the section or seek a new gig either inside or outside after getting passed over.

“They treated her nicely when she applied for the job, but it was pretty clear there was no urgency in her consideration,” according to a spy.

Sicha, on his way out the door in April, also posted on Twitter that everyone should apply for the job. That was seen by some as a ticked-off Sicha, who formerly worked for the now-defunct gossip site Gawker, creating a bit of mischief for his bosses. “I am sure they were inundated with resumes.”

Sharky Laguana Joins Fetii as Investor, Advisory Board Member

June 10, 2021

AUSTIN, Texas, June 9, 2021 /PRNewswire/ — Fetii, the Austin-based group rideshare company, announced today that Bandago Van Rentals CEO and Founder Sharky Laguana has become an investor and will serve on its Advisory Board, providing strategic guidance as it continues its rapid growth and expansion. While terms of the deal were not disclosed, Fetii expressed its newfound ability to tap into Bandago’s vehicle supply as the rideshare company looks to meet its increasing demand.Sharky Laguana is the CEO and Founder of Bandago, a passenger van rental company that specializes in 15-passenger vans (Fetii’s vehicle of choice) and operates in 13 major cities across the US, including Los Angeles, New York, San Francisco, Dallas, and Austin. In addition to running Bandago, Laguana serves on the board of the American Car Rental Association, is a mayoral appointee to the San Francisco Small Business Commission, was an early investor and advisor to Scoot Networks (a San Francisco-based scooter service), and has invested in and advised several tech startups.Sharky Laguana joins existing Fetii advisors Ashok Kumar and Joseph Kopser. Kumar served in multiple executive positions at Verizon including CTO of Digital Transformation and VP of FiOS. Kopser is a mobility expert best known as the Co-Founder and former CEO of RideScout, a ridesharing platform acquired by Mercedes-Benz.”We are attempting to create an all-star team that can provide the proper insights and perspectives as we scale. With Sharky’s addition, our vehicle acquisition strategy benefits tremendously,” said Matthew Iommi, Co-Founder, and Co-CEO of Fetii. “Sharky’s experience with our vehicle of choice, the 15-passenger transit van, opens many avenues for us as the company enters into new markets.”

“In addition to Sharky’s vehicle expertise and resources,” added Justin Rath, Co-founder, and Co-CEO of Fetii, “he is well connected in the Bay Area and can make impactful introductions to investors, advisors, and partners.”About FetiiFetii Inc. is a SaaS mobility company that utilizes a network of 15-passenger vehicles to service groups and businesses with on-demand group transportation. It aims to create the world’s first group-focused rideshare service that relieves congestion while offering a state-of-the-art user experience. Fetii looks to improve the lives of individuals and businesses by solving one of society’s most pressing issues: traffic congestion.Fetii services two segments: groups (Fetii Group) and businesses (Fetii Business). Fetii Group utilizes an iOS and Android app to connect vehicles with groups who need to get from Point A to Point B. Fetii Business connects vehicles with businesses and organizations that need transportation services for employees, clients, customers, etc. Movability, Central Texas’ first and only transportation management association, partnered with Fetii earlier this year to offer the group rideshare service to its portfolio of corporate members in the State of Texas.To learn more about Fetii, visit www.fetii.com.

Media Contact: Melanie Rodriguez, melanie@greatlike.com View original content to download multimedia:https://www.prnewswire.com/news-releases/sharky-laguana-joins-fetii-as-investor-advisory-board-member-301309280.htmlSOURCE Fetii Inc.

Facebook’s ad chief Carolyn Everson is leaving the company

June 10, 2021

President of Global Marketing Solutions for Facebook, Carolyn Everson attends the forum titled “Poverty Alleviation & Economic Development” within the One Young World Summit 2017 at Agora Conference & Special Events Center in Bogota, Colombia on October 05, 2017.Lokman Ilhan | Anadolu Agency | Getty ImagesFacebook global ads chief Carolyn Everson is departing the company. Everson, who had been at Facebook for more than a decade, has served as face of the company for major advertisers as the vice president of its Global Business Group. Facebook is an advertising giant that is expected to command nearly a quarter of digital ad spend globally in 2021, according to eMarketer. “I am extremely proud of what we set out to accomplish but way more proud of my team and the support we showed each other, especially in difficult times,” Everson wrote in a post on her Facebook page. “I always said no one will ever mention at my funeral the amount of revenue I oversaw.  But hopefully one day someone will say my legacy at Facebook was in how I showed up for my team, for our clients and for our industry.  I am very much looking forward to starting a new chapter.”Everson was a liaison to big marketers during major controversies involving Facebook, including a boycott last summer of the platform by major advertisers.Nicola Mendelsohn, head of the EMEA region for Facebook’s Global Business Group, will fill in as interim leader, a spokeswoman said. “We wish Carolyn the best as she moves into a new chapter. We are grateful for her contributions,” a Facebook spokesperson said via email.