The Soaring and the Falling in 2020: How the COVID-19 Pandemic Has Changed the Business World

The Soaring and the Falling in 2020: How the COVID-19 Pandemic Has Changed the Business World




The Soaring and the Falling in 2020: How the COVID-19 Pandemic Has Changed the Business World

Dublin, March 02, 2021 (GLOBE NEWSWIRE) — The “The Soaring and the Falling in 2020: How the COVID-19 Pandemic Has Changed the Business World” report has been added to ResearchAndMarkets.com’s offering. ]

In many countries, the global COVID-19 pandemic has brought economic activity to its knees. Countries are struggling to deal with the pandemic and with the economic devastation that it has brought. This report looks at the global economy and how it has performed in 2020. While most organizations would not like to be seen as profiting from the pandemic, the pandemic has helped some organizations grow. It has brought other behemoths to their knees.

This report also looks at organizations that have grown the most and organizations that have been hurt the most from the pandemic. Sectoral influences that have contributed to the growth/downfall of organizations are explored while understanding the ‘new normal’ of the post-COVID-19 world. Apart from gainers and losers in the market cap/stock market game, we also look at other entities: Unicorns and the ‘up and comers’ who have attracted attention for doing something right, something wrong or just being in the right place at the right time. The report will also look at changing the investment strategies of VCs in the current scenario and how businesses are pivoting to stay relevant.

Report Includes:

  • An overview of how the COVID-19 pandemic has changed the business and economic world
  • Highlights of some of the lessons that can be learned from pandemics
  • Market positioning and future outlook of the listed companies who have grown the most, changing investment strategies of venture capitalists, and how businesses are pivoting to stay relevant in the current scenario
  • A look at the sectoral influences that have contributed to the growth/downfall of the organizations while understanding the ‘new normal’ of the post-COVID-19 world
  • Information pertaining to some of the unlisted entities and how they have fared in 2020 amid the COVID-19 pandemic

What is a Pandemic? What Happens Economically in One?

Have you ever played the board game Pandemic? It is a game in which players collaborate to deal with a disease that has broken out. Or have you played the simple mobile game Plague Inc.? That is a game in which you are in control of a pandemic and are looking to spread it (while learning more about the disease) and the world (played by AI) tries to find a cure or locks down to prevent the spread before the population dies out. While these games provide entertainment and may help us learn how to deal with a pandemic in a closed setting, we know that reality with its dynamic settings is often slightly different. A pandemic fosters doom and gloom. A mysterious, rapidly spreading illness, misinformed panic, lack of medication, and general anxiety loom everywhere. Who to blame? What to do? Where to go? These are usually questions that arise during pandemics.

Key Topics Covered:

  • Introduction
  • What is a Pandemic? What Happens Economically in One?
  • What Can be Learned from Pandemics? And Do We Learn?
    • Economic Lessons from the ‘Spanish Flu’
    • Is It Normal or Is There a New Normal?
  • What Does the New Normal Bring?
  • Global Indicators
    • Crude Oil
    • China
  • How Has COVID 19 Changed Our Economic World?
  • So Whose Stock Rose and Whose Fell Globally?
  • How Have the Large Caps Fared? The Stocks in Indices?
    • The Big Gainers
    • The Falling Stocks of 2020
    • Other Markets
  • How Did the Unlisted Entities Fare in 2020?
  • What are the Major Trends That VCs are Seeing?
  • Pivoting in Times of Need
  • Constant Innovation
  • Conclusion
  • Information Sources
  • Analyst’s Credentials
  • Related Reports

For more information about this report visit https://www.researchandmarkets.com/r/qqka38

CONTACT: CONTACT: ResearchAndMarkets.com
         Laura Wood, Senior Press Manager
         press@researchandmarkets.com
         For E.S.T Office Hours Call 1-917-300-0470
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FrontFundr and ExpoWorld Announce Partnership to Guide Companies from Early-stage Funding to Public Exchange Listing

FrontFundr and ExpoWorld Announce Partnership to Guide Companies from Early-stage Funding to Public Exchange Listing




FrontFundr and ExpoWorld Announce Partnership to Guide Companies from Early-stage Funding to Public Exchange Listing

TORONTO, March 02, 2021 (GLOBE NEWSWIRE) — Silver Maple Ventures Inc. (SMV), owner of FrontFundr and DealSquare, and Toronto-based strategic investor ExpoWorld Ltd (ExpoWorld) are partnering to help promising and fast-growing private companies explore the path of going public. Assistance will also involve migration from early funding solutions toward full listing on one of Canada’s public stock exchanges.

ExpoWorld will support interested corporate clients of FrontFundr with solutions to go public, from assessing a potential go-public transaction as a viable corporate finance strategy to planning and execution of sustainable public listing. ExpoWorld founder, John Passalacqua, will also join SMV’s advisory board as capital markets advisor and has made a strategic investment into SMV.

“We are excited to be working together with ExpoWorld,” says Peter-Paul Van Hoeken, Founder and CEO of SMV, “As more and more companies will be raising capital in the private markets, there will be increasing need for supporting these companies with adequate and suitable corporate finance and liquidity strategies to underpin their growth. ExpoWorld’s expertise in private and public markets and guidance in viable go-public strategies enhances our value proposition to early stage and growth companies, as well as to investors who invest in companies on FrontFundr.”

“The nexus between private and public markets in Canada grows ever stronger. Smooth, well-planned transitions between private and public markets have never been more important for private growth companies,” says ExpoWorld founder, John Passalacqua. “We are excited to work closely with SMV on welding together the deep plumbing required to bring the best of what Canadian entrepreneurs have to offer to the public markets with a notably well-balanced approach.”

Beyond working together on supporting private companies through their finance lifecycle as they grow their business, ExpoWorld and SMV have also agreed to work together on an innovative solution toward facilitating secondary liquidity for qualified private companies and their investors.

The private markets are growing at an incredible pace. SMV and FrontFundr have opened to the public a whole new channel for investing in private companies and unlocked an entirely new pool of capital to early stage and growth companies (estimated to be around $2.5 billion per year in North America). In 2020, SMV also introduced DealSquare, in partnership with NEO Exchange, as Canada’s first fully digitized and electronic private markets platform for securities dealers, investment advisors and portfolio managers.

This communication is for informational purposes only and does not constitute an offer to sell or the solicitation to buy any securities.

About Silver Maple Ventures

Silver Maple Ventures Inc. (“SMV”) is an exempt market dealer and holding company of FrontFundr Financial Services Inc. (“FrontFundr”) and DealSquare Technologies Inc. (“DealSquare”). With offices in Toronto and Vancouver, the SMV team are national leaders in the private capital markets, operating two fintech platforms to provide access to private markets in Canada and to simplify the transaction process.

About ExpoWorld

ExpoWorld is a private Canadian-based family office specializing in local and international public and private financial markets. ExpoWorld provides public and private companies with strategic financing alternatives, including funding to early stage venture companies and supporting them with eventual and well-balanced go-public strategies and financing alternatives. The firm has particular sector expertise in technology, renewables, green-power, lifestyle, plant-based alternatives, psychedelics, social conscience and other specialized industries.

CONTACT: Media Contact
Peter-Paul Van Hoeken
Tel: 416-843-4111
Email: peter-paul@frontfundr.com
www.frontfundr.com

John Passalacqua
Tel: 416-546-6885
Email: jap@expoworld.com
www.expoworld.com

Homepie Becomes California’s Hottest Brokerage for Savings

Homepie Becomes California’s Hottest Brokerage for Savings




Homepie Becomes California’s Hottest Brokerage for Savings

California Home Sellers Shocked with 6% Drop in Real Estate Seller Costs

SIMI VALLEY, Calif., Feb. 25, 2021 (GLOBE NEWSWIRE) — Homepie, Inc®, a leading provider of do-it-yourself tools for homebuyers and sellers who wish to transact without a real estate agent, today announced that they have surpassed brokerages like Redfin in delivering the lowest cost real estate transactions.

Homepie, Inc® is a property technology (proptech) startup, hitting headlines for giving California home sellers a marketplace where they can sell their home for free with over 400 homes listed on the platform in the last two months. Since launching in 2019, Homepie’s technology/concierge hybrid model has established itself as the lowest cost and highest service option available.

Today’s proptech allows consumers to eliminate tens of thousands of dollars in commissions by leveraging technology to independently stage their property and get it in front of online buyers. 

According to the California Association of REALTORS®, the average value of property purchased or sold in California is $717,930. The normal commission on a real estate transaction is 6% of the closing price, typically paid by the seller then split between the seller’s and buyer’s agents. With Homepie’s model applied to California properties, sellers stand to save $43,075 on average.

Dean Vendouris, a homeowner in Tujunga, CA shared his experience with Homepie that led to $26,000 dollars in commission savings – more than even the lowest discount fees offered by Redfin.

“I sold our rental condo 20 years ago and wanted to try selling my home this year. After plenty of phone calls, lowball offers, and frustration that things weren’t happening quickly, Tammy (a Homepie concierge) promptly addressed my concerns. I was given a thorough report and wise recommendations regarding listing photos. After being on the MLS, Zillow, Realtor, Redfin, etc., for 5-6 weeks with lame photos attracting bad offers, I took Homepie’s suggestion. Using their photographer, I sold it three days later, full ask. Couldn’t be more pleased with Homepie; they fully delivered,” said Dean.

“When marketed correctly using the tools we provide, homes are selling in three to five days,” says Brad Rice, CEO of Homepie. “Inventory is so low in California that most customers see multiple full-price offers on their home within days of adding them to our site.”

About Homepie

Homepie is the place where savvy consumers go for commission-free help to buy or sell homes.  Today, nearly 1 in 10 home sales already close directly between buyer and seller without a real estate agent. Now, with Homepie’s central online marketplace and a simple step-by-step process, anyone can do the same with confidence. Homepie has all the tools to list, market, search, view, offer, negotiate, and auto-generate a purchase agreement that is digitally signed. Best of all, they offer a 100% free listing for consumers, as the recommended service providers (photography, insurance, inspectors, etc.) cover the costs. Homepie takes the worry and guesswork out of home buying and selling. Learn how at homepie.com

Media Contact:
Jules Penham
jules@wavgroup.com 801-971-8446

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1596a917-a96e-4545-91d3-90783a0ae1cb.

Borrowell Raises $25 Million in New Funding and Completes Acquisition of Refresh Financial

Borrowell Raises $25 Million in New Funding and Completes Acquisition of Refresh Financial




Borrowell Raises $25 Million in New Funding and Completes Acquisition of Refresh Financial

Additional funds will accelerate growth of Borrowell’s 1.5+ million member base and development of new products and services for consumers looking to achieve their financial goals

TORONTO, Feb. 22, 2021 (GLOBE NEWSWIRE) — Borrowell, Canada’s leading credit education company and one of its largest financial technology (fintech) companies, today announced it has completed the acquisition of Refresh Financial, a leader in providing underserved Canadians with long-term access to affordable and sustainable credit, and raised $25 million in funding for the acquisition and to support future growth. The acquisition doubles Borrowell’s revenue and employee base.

The $25 million funding round includes new investors Kensington Capital Partners, BDC Capital, iA Financial Group and Impact Engine, a Chicago-based social impact-focused investment fund. Existing investors Portag3 Ventures, White Star Capital, National Bank of Canada’s NAventures and Equitable Bank also participated with new funding.

“This acquisition and fundraise allow us to double-down on our strategy of helping consumers achieve their financial goals,” said Andrew Graham, co-founder and CEO of Borrowell. “With an expanded team across the country and a comprehensive suite of credit building solutions, we’re eager to help even more Canadians access credit products that meet their specific needs and maximize their long-term financial health. All Canadians deserve a fair shot at building credit history, accessing affordable credit, and reaching their financial goals. We believe Borrowell can help make that a reality.”

“As the effects of the pandemic continue to be felt, many consumers across North America are looking for help improving their financial standing,” said Win Bear, Managing Director at Kensington Capital Partners. “Borrowell is exceptionally well-positioned to address this need, having seen usage of its products increase impressively over the past months. They’ve built strategic partnerships with Canada’s major financial institutions, and they leverage data-driven customer insights to develop solutions that place the financial health of Canadian consumers front-and-center. We look forward to helping this expanded Borrowell team accelerate their ongoing growth.”

“Through the pandemic, Borrowell has strengthened its core business model and found new ways to expand in the Canadian market through acquisition,” says Jack Fraser, Partner, BDC Capital. “With a strong, diverse leadership team, we believe the company is poised for further growth, and look forward to supporting their trajectory.”

“Borrowell has already demonstrated its ability to help its diverse customer base improve credit scores through credit transparency, education and access to financial products,” said Priya Parish, Managing Partner with Impact Engine. “We invested in the company with a belief that the acquisition and expansion of proprietary products will enable even greater financial mobility for its customers by providing a broader suite of products and services that meet the diverse needs of each user.”

This brings Borrowell’s total equity financing to $55 million and accelerates the company’s mission to help Canadians build their credit, make smart financial decisions, and achieve financial stability.

Raymond James Ltd. acted as financial advisor to Borrowell and Osler, Hoskin & Harcourt LLP acted as legal advisor. Ernst & Young Orenda Corporate Finance Inc. acted as financial advisor to Refresh and Bennett Jones LLP acted as legal advisor.

About Borrowell
Borrowell is dedicated to making financial stability possible for everyone. The company offers free credit scores, education, and weekly credit monitoring, as well as innovative digital tools like personalized credit coaching and AI-powered financial product recommendations.

With over one and a half million members, Borrowell is one of largest fintech companies in Canada. Borrowell has won numerous awards, including being named one of the top 100 fintech companies in the world by KPMG, earning a spot on the Deloitte Technology Fast 50™ list of fastest growing companies in Canada (2019 and 2020), and making App Annie’s list of Breakout Finance Apps for 2019. For more information, please visit www.borrowell.com. You can also download the Borrowell mobile app for Android and iOS today.

Media Contact
media@borrowell.com

Related Links
https://www.borrowell.com
https://www.refreshfinancial.ca

UPDATE – KOHO Launches Credit Building to Level the Playing Field for Canadians Striving to Grow Their Credit Score

UPDATE – KOHO Launches Credit Building to Level the Playing Field for Canadians Striving to Grow Their Credit Score




UPDATE – KOHO Launches Credit Building to Level the Playing Field for Canadians Striving to Grow Their Credit Score

TORONTO, Feb. 09, 2021 (GLOBE NEWSWIRE) — The Canadian FinTech KOHO continues to disrupt the personal finance space, announcing today the launch of their first Credit Building product. KOHO Credit Building reports all activity to TransUnion®, one of the two major reporting bureaus in Canada.

For many Canadians, the current credit building marketplace is comprised of expensive products that lack transparency. KOHO’s Credit Building is a simple and affordable solution that helps users take control of their credit narrative for only 7$/month. A small line of credit is issued and reported monthly, generating a positive credit history. There are no additional fees, no compounding debt and no gimmicks – just another KOHO product built on user feedback.

“Historically, the options for building credit are expensive, murky or both, especially for middle-class Canadians,” stated CEO of KOHO, Daniel Eberhard. “We think our approach to credit building is a new form factor. It’s simple, affordable and transparent. We’re really proud of it.”

KOHO has experienced amazing growth over the past year as more Canadians turn to more transparent banking tools amidst global economic challenges. KOHO’s attention to their users’ financial needs has helped them create a product roadmap that continues to deliver on their promise to make banking simple and accessible for everyone.

About KOHO
KOHO is a new era of banking on a mission to make the financial system accessible and intuitive to everyone. KOHO offers a full-service account with no hidden fees. The account comes with a prepaid Visa card that earns cash back on every purchase, and an integrated app that helps users spend smart and save more.

For media inquiries, please contact:

Brittany Bell
brittany@koho.ca
For more information, please visit www.koho.ca

KOHO Launches Credit Building to Level the Playing Field for Canadians Striving to Grow Their Credit Score

KOHO Launches Credit Building to Level the Playing Field for Canadians Striving to Grow Their Credit Score




KOHO Launches Credit Building to Level the Playing Field for Canadians Striving to Grow Their Credit Score

TORONTO, Feb. 09, 2021 (GLOBE NEWSWIRE) — The Canadian FinTech KOHO continues to disrupt the personal finance space, announcing today the launch of their first Credit Building product. KOHO Credit Building reports all activity to TransUnion®, one of the two major reporting bureaus in Canada.

For many Canadians, the current credit building marketplace is comprised of expensive products that lack transparency. KOHO’s Credit Building is a simple and affordable solution that helps users take control of their credit narrative for only 7$/month. A small installment loan is issued and reported monthly, generating a positive credit history. There are no additional fees, no compounding debt and no gimmicks – just another KOHO product built on user feedback.

“Historically, the options for building credit are expensive, murky or both, especially for middle-class Canadians,” stated CEO of KOHO, Daniel Eberhard. “We think our approach to credit building is a new form factor. It’s simple, affordable and transparent. We’re really proud of it.”

KOHO has experienced amazing growth over the past year as more Canadians turn to more transparent banking tools amidst global economic challenges. KOHO’s attention to their users’ financial needs has helped them create a product roadmap that continues to deliver on their promise to make banking simple and accessible for everyone.

About KOHO
KOHO is a new era of banking on a mission to make the financial system accessible and intuitive to everyone. KOHO offers a full-service account with no hidden fees. The account comes with a prepaid Visa card that earns cash back on every purchase, and an integrated app that helps users spend smart and save more.

For media inquiries, please contact:

Brittany Bell
brittany@koho.ca
For more information, please visit www.koho.ca

Sony Innovation Fund by Innovation Growth Ventures (IGV) Invests in Arkose Labs to Keep Gamers Safe Online

Sony Innovation Fund by Innovation Growth Ventures (IGV) Invests in Arkose Labs to Keep Gamers Safe Online




Sony Innovation Fund by Innovation Growth Ventures (IGV) Invests in Arkose Labs to Keep Gamers Safe Online

Company’s prevention technologies are helping the gaming industry eliminate online fraud and abuse

SAN FRANCISCO, Feb. 04, 2021 (GLOBE NEWSWIRE) — Arkose Labs, provider of online fraud and abuse prevention technology, today highlighted how the gaming industry is benefiting from its partnerships with companies like Microsoft, Sony Interactive Entertainment, Roblox, EA and Minecraft. As a testament to its leadership in online fraud and abuse detection, Arkose Labs is announcing that the Sony Innovation Fund, by Innovation Growth Ventures (IGV), is making an investment in the company. This investment follows Arkose Labs’ 2020 $22 million Series B investment round led by M12, Microsoft’s venture capital fund.

With many adults continuing to work remotely and children staying home (online gaming traffic rose 30% in the second quarter of 2020), there’s an urgent need for companies to eliminate online gaming fraud and keep their customers safe online. By going beyond traditional fraud detection to address abuse of virtual economies, bot-driven in-game cheating, and bonus abuse, Arkose Labs provides powerful remediation against bot and human-driven attacks without disrupting good users. As a result, some of the world’s best-known online gaming companies like Microsoft, Sony Interactive Entertainment, Roblox, EA and Minecraft trust Arkose Labs with keeping their gaming communities secure.

“Arkose Labs’ innovative approach to fighting fraud has successfully scaled across multiple industries and we believe the company is on track for more growth,” said Gen Tsuchikawa, CEO and Chief Investment Manager for Sony Innovation Fund (SIF) and Chief Investment Officer for Innovation Growth Ventures (IGV). “Not only does the company’s platform create a frictionless experience for users, but its technology enables intelligence that remediates attacks in real-time while keeping customers ahead of evolving threats. We are excited to join forces with the team at Arkose Labs as they take on online fraudsters and make the digital world a safer place.”

Gaming companies choose Arkose Labs for their innovative approach to fighting fraud, including:

  • Looking beyond just remediation to gain actionable insights into user intent
  • Providing user-centric authentication with fun challenges for good users, inspired by gamification
  • Stopping ATO with the elimination of large-scale attacks on user accounts
  • Eliminating real money trading and securing the in-game experience from auction house abuse, economy inflation and match-fixing
  • Halting abusive behavior and protecting communication channels from spam and malicious content
  • Providing easy implementation, rapid deployment, and instant results
  • Protecting all live chat and other communication channels from malicious content and scams targeting good users
  • Launching promotions and new customer acquisition giveaways, with robust protection to stop bonus abuse and fraud

“Fraud detection and prevention has never been more important, particularly in the realm of online gaming,” said Arkose Labs CEO Kevin Gosschalk. “We look forward to continuing our work with the gaming industry to make online experiences safer in an ever-tumultuous world. With proven technology that breaks down the ROI of fraudsters and a newly expanded executive leadership team, we’re in a stellar position to protect both individuals and businesses struggling with an onslaught of fraud brought on by increased digital adoption.”

In addition to working with Microsoft, Sony Interactive Entertainment, Roblox, EA and Minecraft, Arkose Labs has been working with other leading gaming companies to fight account takeovers, eliminating the creation of fake accounts and protecting gamers across both their web and desktop launcher experiences.

Additionally, Arkose Labs was recognized for its ongoing commitment to online fraud detection when it was named a 2020 Gartner Cool Vendor for Identity Access Management and Fraud Detection.

About Arkose Labs:
Arkose Labs bankrupts the business model of fraud. Its patented platform combines Arkose Detect, a sophisticated risk engine, with Arkose Enforce, which uses targeted step-up challenges to wear fraudsters down and diminish their ROI. The world’s largest brands trust Arkose Labs to protect their customer journey while delivering unrivaled user experiences. Arkose Labs is based in San Francisco, Calif., with offices in Brisbane, Australia. For more information, visit www.arkoselabs.com or on Twitter @ArkoseLabs.

About Sony Innovation Fund by IGV:
Sony Innovation Fund by Innovation Growth Ventures (IGV) is a venture capital fund established in 2019 by Sony Corporation, Daiwa Capital Holdings Co., Ltd. and external limited partners. As one of Sony Group’s venture investment programs, IGV invests in mid to late-stage startup companies across Japan, the U.S., Europe, Israel and India.

Media Contacts:
Paul Wilke
arkose@uprightcomms.com
+1-415-881-7995

One-of-a-Kind Bike Rack Takes Off in Colorado’s Grand Valley

One-of-a-Kind Bike Rack Takes Off in Colorado’s Grand Valley




One-of-a-Kind Bike Rack Takes Off in Colorado’s Grand Valley

QuikRStuff Receives Advanced Industries Grant, Expands Production

Grand Junction, CO, Jan. 22, 2021 (GLOBE NEWSWIRE) — Last week, QuikRStuff welcomed new, automated CNC machines to its production facility in Grand Junction, Colorado, kick-starting a much-awaited second run for the fast-growing manufacturing startup.  The expansion was made possible thanks to a successful fundraising round that included a $150,000 Advanced Industries Accelerator (AI) Grant from the Colorado Office of Economic Development and International Trade. QuikRStuff was the only company outside Colorado’s urban I-25 corridor among 37 AI grant recipients in November 2020.

QuikRStuff is a manufacturer of a modular high-end, high-quality and high-capacity bike racks. The products are all American-made, designed and built in Grand Junction. With a 300-pound capacity, they are also the only racks on the market capable of managing multiple, heavy e-Bikes.

QuikRStuff was founded by JT Westscott, a veteran machinist and business owner in Grand Junction, and Bryan Wachs, serial entrepreneur and Entrepreneur-in-Residence at the Colorado Mesa University (CMU) Maverick Innovation Center. Wachs’ unique relationship with CMU has allowed the company to work closely with local students in every aspect of the business – six students have had hands-on experience with QuikRStuff productionengineering, finance management, marketing and more.

In the last year, QuikRStuff has raised approximately $900,000. The startup plans to add four employees to work the new machines, and accelerate production from its initial run of 100 racks to upward 2,000 racks by the end of March.

Designed by Cal Phillips, the renowned inventor of the revolutionary 1Up Quik Rack bike carrier, the first run sold out in three days, and the company currently has over $400,000 in presales.

###

This release is distributed by the Grand Junction Economic Partnership
The Grand Junction Economic Partnership (GJEP) works to enhance the economic vitality and quality of life in Colorado’s Grand Valley by supporting high-impact capital investment and job creation. GJEP is a single stop for businesses looking to relocate or expand in the cities of Grand Junction and Fruita, the Town of Palisade and surrounding communities of Mesa County. Operating as a 501(c)3, GJEP offers free services that connect businesses with realtors, developers, workforce, local leadership and more. GJEP also provides guidance on incentive programs, such as the Rural Jump-Start Tax Credit and Opportunity Zones. Join us in the New West – visit www.gjep.org for more information.

CONTACT: Cilia Kohn
Grand Junction Economic Partnership
720.272.1777
cilia@gjep.org

Bryan Wachs
QuikRStuff
970.658.8492
bryan@quikrstuff.com

Rookout gives developers X-Ray vision into other people’s code for rapid debugging

Rookout gives developers X-Ray vision into other people’s code for rapid debugging




Rookout gives developers X-Ray vision into other people’s code for rapid debugging

One of the major pain points for software developers is debugging other people’s code that nevertheless impacts their application. This could be everything from code written by an ex-employee, to open source frameworks, to 3rd party PaaS.

SAN FRANCISCO, Jan. 19, 2021 (GLOBE NEWSWIRE) —  Rookout, the modern debugging platform, today announced new functionality that empowers software developers to debug other people’s code for the first time. Traditionally, when trying to arrive at the root cause of an issue, running into 3rd party code presents a number of challenges. Fundamentally, this is code that the developer herself did not write, making it that much more difficult to understand. Rookout provides X-ray vision into these 3rd party dependencies that software developers are used to experiencing as black boxes.

“Debugging becomes even more difficult when you run into code that you didn’t write — which in today’s modern distributed environments can be the large majority of code keeping the application running,” said Liran Haimovitch, CTO and Co-Founder of Rookout. “Before today, even adding a log line to one of those 3rd party dependencies seemed like an insurmountable task, but that is all changing with our newly released functionality.”

In today’s world, where more and more people are working remotely, the ability to even jump over to a colleague’s desk has become reduced. The distance between the developer and the code they are debugging is even wider when it’s code written by a former employee, an open source framework, or even 3rd party proprietary code. According to Jason Bloomberg, President and Principal Analyst at Intellx, “An understandability tool like Rookout brings information about the running software in production to developers, providing visibility into how individual lines of code impact the behavior of running software.”

“These modern applications consist of multiple software objects running across multiple runtime environments. As a result, tracking down a bug in a particular line of code becomes that much more difficult as compared to a monolithic application,” continues Bloomberg. “The connection between individual lines of code and the behavior of all software running in production is thus tenuous at best. Tracking down bugs has just become far trickier.”

Rookout is installed as an SDK and deployed in every running instance of the application. The SDK performs bytecode manipulation, gaining direct access to running code frames as the application runs. This allows the Rookout SDK to fetch the value of local variables, stack traces, and metadata about the running application. The unique implementation offered by Rookout means this data can be fetched even when the software engineer didn’t build the application herself or has no access to the source code.

According to IDC, a premier analyst firm researching technology trends in over 100 countries, in their report titled Worldwide Developer and DevOps 2020 Predictions, they write that “re-use of third-party code in new apps and digital solutions will increase from 40% in 2020 to 80% of code in 2024.” Arnal Dayaratna, Research Director in software development for IDC, says about Rookout: “One of the challenges faced by contemporary developers is the task of understanding applications that they may not have even developed or used — Rookout empowers developers to truly understand the applications that they are debugging.”

“The future of software lies in cutting down on deployment, reducing CI/CD strain, and speeding development and the delivery of new features,” said John Kodumal, CTO and Co-Founder of LaunchDarkly. “With Rookout, the data you need is available with just a click.”

About Rookout

Rookout empowers engineers to solve customer issues 5x faster, by reducing debugging and logging time by 80%. With its live data collection and debugging platform, Rookout allows software engineers to understand and debug any application in real time, no matter where it’s running; from cloud native distributed environments to on prem. With the use of Non-Breaking Breakpoints, software engineers get the data they need instantly, without additional coding, restarts, or redeployment of their application required. See what Rookout can do for you at https://www.rookout.com.

Contact

Adam LaGreca
Founder, 10KMedia
adam@10kmedia.co

Hot Cloud Storage Provider Wasabi Fuels Continued Growth with $27.5 Million Funding Round

Hot Cloud Storage Provider Wasabi Fuels Continued Growth with $27.5 Million Funding Round




Hot Cloud Storage Provider Wasabi Fuels Continued Growth with $27.5 Million Funding Round

New debt financing will support capital investments as Wasabi expands its global footprint

Boston, MA, Jan. 19, 2021 (GLOBE NEWSWIRE) — Wasabi, the hot cloud storage company, today announced that it has raised $27.5 million in debt financing from MGG Investment Group, LP (“MGG”), a leading private investment firm. The new funding will be used to bolster the company’s infrastructure, including constructing additional data centers in new geographies, to meet accelerating global demand for Wasabi’s affordable, predictable and simple cloud storage solutions. This funding follows the company’s April 2020 $30 million equity round, bringing Wasabi’s total financing raised since launch to nearly $140 million.

Today’s announcement comes on the heels of a banner year for Wasabi. In 2020, the company’s total storage expanded 150%, annual revenues grew by more than 3 times over 2019, and the customer base increased to more than 21,000 businesses, educational institutions, municipalities and technology service providers worldwide. Wasabi’s growth continues to be fueled by its expansive partner community of more than 4,000 channel partners and 350 technology partners and its ongoing expansion into new geographies and markets.

Wasabi’s low cost, high-performance storage is empowering organizations to rethink critical data strategies by providing access to bottomless storage capacity that can scale up or down based on changing needs. Wasabi’s storage is one-fifth the cost of Amazon S3, faster than the competition with no fees for egress or API requests, and no vendor lock-in. These characteristics, along with strengths in multi-cloud deployments, established Wasabi as an “Outperformer” by GigaOm when compared to other alternatives to Amazon AWS S3.

“Our transformative deal with MGG marks Wasabi’s first major institutional debt round, which is an important milestone for our company and mission as we continue to roll out more data centers and bring our unique solutions to more customers around the world,” said Wasabi CEO & co-founder, David Friend. “MGG distinguished itself due to the firm’s successful track record of partnering with companies to build enduring value as well as the team’s understanding of our business model and growth potential. This financing provides our company with stable, long-term support to drive our rapid growth and we look forward to a prosperous relationship with MGG in the years to come.”

“While the migration to cloud storage was already well underway, the COVID-19 pandemic has accelerated this shift and demonstrated the need for increased remote data accessibility and storage,” said Kevin Griffin, Chief Executive Officer and Chief Investment Officer of MGG. “Wasabi is a disruptor in the space, and its growth over the past year is a testament to the company’s standout technology and the clear market need for secure, infinite, high-performance, high-value storage. We are pleased to have the opportunity to support Wasabi in its global growth, enabling cloud storage to become the next utility for all data-driven organizations.”

Lincoln International served as financial advisor to Wasabi in connection with the financing.

For more information on Wasabi’s hot cloud storage, please visit Wasabi.com.

About Wasabi

Wasabi provides simple, predictable and affordable hot cloud storage for businesses all over the world. It enables organizations to store and instantly access an infinite amount of data at 1/5th the price of the competition with no complex tiers or unpredictable egress fees. Trusted by customers worldwide, Wasabi has been recognized as one of technology’s fastest-growing and most visionary companies. Created by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi has secured $140 million in funding to date and is a privately held company based in Boston.

Follow and connect with Wasabi on Twitter, Facebook, Instagram and our blog.

About MGG Investment Group, LP

Founded in 2014, MGG Investment Group is a private investment firm that provides bespoke financing solutions to mid-size and growing lower-middle market companies. MGG works with owners and management teams to help build lasting value, address immediate needs, and solve complex situations while generating attractive risk-adjusted returns for investors irrespective of and through market cycles. For more information, visit mgginv.com

CONTACT: Nick Brown
InkHouse for Wasabi
wasabi@inkhouse.com

Nathaniel Garnick/Sam Fisher
Gasthalter & Co. for MGG
(212) 257-4170