Business
Table Space eyes $2.5B valuation in India IPO
Table Space, an Indian managed workspace provider founded in 2017, is planning an IPO targeting a $2.5 billion valuation. The company leases large office spaces, converts them into tech-enabled campuses, and offers them to corporate clients as flexible offices and co-working spaces. With over 60 centers serving major clients like Apple and Google, Table Space plans to double its 9.5 million square feet portfolio. Despite global co-working challenges, India’s flexible workspace demand remains strong, driven by tech sector growth and companies reducing long-term lease commitments.
HubSpot acquires Cacheflow, a platform that helps close software sales
HubSpot has acquired Cacheflow, a startup specializing in tools for automating the software sales closing process, to enhance its Commerce Hub suite for subscription billing and configure, price, and quote (CPQ) tools. Founded in 2021, Cacheflow provides no-code solutions for B2B billing and subscription management, aimed at simplifying and speeding up sales cycles. The acquisition aligns with HubSpot’s broader strategy to grow its Commerce Hub, which has processed over $1 billion in gross merchandise value since its 2023 launch. Cacheflow’s team will join HubSpot to further develop its buying process tools. This marks HubSpot's first acquisition since its $150 million purchase of Clearbit in 2023.
Bangladeshi startup Jatri enters Saudi and UAE markets
Jatri, a Bangladeshi multi-modal travel platform, is expanding into the Gulf Cooperation Council (GCC) market, starting with Saudi Arabia and the UAE, through its new platform 'Saafir.' Initially focused on digitizing transportation in Bangladesh, Jatri has built a network of over 6,000 buses, 60,000 drivers, and 1.9 million users. Now, with GCC's initiative for a unified visa system and booming tourism market, Jatri aims to offer integrated travel solutions, including Umrah travel packages and chauffeur services. The company has partnered with Eilago to support its regional expansion, providing personalized travel experiences in line with the Middle East's growing tourism sector.
Subscription management platform RevenueCat acquires a ‘spicy’ audiobooks app
RevenueCat, a subscription management platform used by over 30,000 developers, including Notion and Buffer, has made its first acquisition by buying Dipsea, an app offering "spicy" audiobooks with 93,847 subscribers and an ARR of $6 million. Instead of a pivot, the acquisition allows RevenueCat to use Dipsea as a testing ground for new subscription tools and features. This move aligns with RevenueCat’s philosophy of "building in public" and will help the company better understand real challenges faced by subscription apps on platforms like the App Store. Dipsea’s CEO Faye Keegan and her team will join RevenueCat to continue running the app while integrating new tools. Terms of the all-cash deal were not disclosed.
IBM acquires Kubernetes cost optimization startup Kubecost
IBM has acquired Kubecost, a FinOps startup specializing in Kubernetes cost monitoring and optimization, which serves major clients like Allianz and Audi. This acquisition follows IBM's $4.3 billion purchase of Apptio and other related acquisitions, as part of its strategy to enhance its IT and FinOps capabilities. Kubecost, known for its OpenCost project, will be integrated into IBM’s FinOps Suite and potentially its OpenShift platform. The financial details of the acquisition were not disclosed, but Kubecost previously raised $25 million in Series A funding.
Confluent acquires streaming data startup WarpStream
Confluent acquired WarpStream, a Kafka-compatible streaming data solution. Confluent plans to introduce a new service, Confluent WarpStream, as part of its portfolio. The new service bridges fully-managed Confluent Cloud and self-managed Confluent Platform. Confluent CEO Jay Kreps calls this a "bring your own cloud" (BYOC) model. BYOC serves organizations with specific data requirements or customization needs. WarpStream offers a cloud-native solution that complements Confluent's product lineup. Kreps believes WarpStream fits the need for a comprehensive streaming data portfolio. The acquisition strengthens Confluent's position in observability, logging, and IoT. WarpStream users can seamlessly transition to Confluent’s platforms. The acquisition followed WarpStream’s $20 million funding round, backed by Greylock and Amplify Partners.
Airtable acquihires onboarding startup Dopt for AI talent
Airtable acquires Dopt, a startup focused on product onboarding experiences. Dopt introduced AI-based assistance tools earlier this year, attracting Airtable's interest. The acquisition closed last month, and Dopt will wind down its service on August 15. Dopt's team will join Airtable’s AI group. Airtable CEO Howie Liu discussed the company's focus on AI during a slowdown post-Covid hyper-growth. Liu emphasized resource constraints fostering creativity and strategic focus. Airtable's current bet is AI, with the recent launch of Airtable Cobuilder for app creation via a chat interface. Liu highlighted AI's role in simplifying software creation, as demonstrated by Cobuilder. The Dopt acquisition is mainly about acquiring talent and enhancing AI capabilities. The acquisition price was not disclosed; Dopt had raised $5.1 million in a seed round in 2022.
What you should know about TSMC, the trillion-dollar Taiwanese chip firm
TSMC, a Taiwan-based semiconductor company, briefly reached a valuation of $1 trillion. Founded in 1987 by Morris Chang, TSMC is a leader in chip production for devices from smartphones to robots. The AI boom, driven by ChatGPT, has increased demand for TSMC's advanced semiconductors. TSMC works with major companies like Nvidia, Qualcomm, AMD, and Apple. Taiwan's geopolitical tensions with China pose a risk to TSMC and the global chip supply chain. US Commerce Secretary warned of devastating consequences if China seized TSMC. TSMC is expanding with new manufacturing plants in the US, Japan, and Germany. US projects face challenges due to a lack of specialized human resources. Japan's strong government support has facilitated TSMC's plant development. Taiwan's earthquake risk also threatens TSMC's operations, prompting investment in seismic resistance features.
The story of Nvidia, the world’s most valuable company
In 1993, Nvidia was founded by Jensen Huang, Chris Malachowsky, and Curtis Priem. They predicted that video games would become a major driver of revenue for computers and that more powerful GPUs would be needed. Nvidia’s first successful product was the RIVA 128, released in 1996. Nvidia continued to innovate throughout the 2000s, acquiring much of its competition and becoming a member of the S&P 500. In recent years, Nvidia has benefited from the growth of artificial intelligence (AI). Nvidia GPUs are well-suited for the complex mathematical calculations required for AI training models. Nvidia has also introduced new products specifically designed for AI data centers. Nvidia stock has tripled since the beginning of 2024. Some are skeptical of Nvidia’s high stock price, but the company is backed by solid technology and consistent revenue growth.