Meta planning to launch free code-generating software to compete with OpenAI

Partnerships 
Taboola renews pact with Associated Press for Header Bidding Integration
Taboola renews partnership with the Associated Press, introducing new features like header bidding and video reel placements to enhance monetization and user engagement for AP News content. Read More>>
Insurity & WCL partner to expand Sure Underwriting platform to the London Market
The company aims to integrate a London Market messaging function, streamlining data exchange and workflows for insurance organizations in the commercial insurance industry. Read More>>

Merger and Acquisition
The Access Group extends care offering through the Oysta acquisition
The Access Group acquires Oysta Technology to enhance its Health, Support, and Care division, bridging health and social care with innovative technology solutions. This strategic merger strengthens Access’s software ecosystem for NHS and Local Government, offering personalized care and proactive support. Read More>>

Product Launch
Semrush’s new E-commerce Booster app supercharges your Shopify store
Semrush introduces the Ecommerce Booster app for Shopify, using AI to optimize product pages, enhance visuals, and improve user experience, enabling small businesses to drive more traffic and sales efficiently. Read More>>
VersaAI delivers AI-assisted enhancements across the Versa Networks portfolio
Versa Networks has introduced enhanced AI capabilities for their VersaAI platform, offering real-time identification of malicious behaviors and secure generative AI tools for network security and management. Read More>>

Executive Movement
Bella Ling-Nair takes on Global Comms Role at Lenovo
Bella Ling-Nair takes over as Lenovo’s Head of Global Communications for Solutions and Services Group, succeeding Kinan Suchaovanich. With a strong background in tech firms like Airbnb and SAP, Ling-Nair will lead global communication strategies to enhance business outcomes. Read More>>

Layoff
AppFolio lays off 9% of the workforce in the second round of 2023 cuts
AppFolio has announced the immediate layoff of 149 employees, constituting 9% of the workforce, due to the company’s lack of profitability and the need to reinvest for long-term growth. Read More>>
SecureWorks to cut 15% of its workforce
SecureWorks has announced its second round of job cuts this year, affecting 15% of its workforce in an estimated USD 14.2 million in expenses due to the layoffs. This follows a previous layoff of 9% of its global workforce in February. Read More>>

Partnerships
Shiseido Americas selects Amperity to transform first-party data strategy
Shiseido Americas partners with Amperity’s customer data platform to enhance personalized digital experiences across brands. It will leverage unified customer profiles for effective omnichannel interactions in the luxury beauty market. Read More>>
IRCTC’s Zoop partners with Simpl
Zoop partners with Simpl to offer a Pay After Delivery feature, enabling Indian train passengers to enjoy onboard meals without upfront payments, reducing Cash on Delivery orders, and enhancing user experience. The integration yields a 4% drop in CoD orders and a 19% rise in average order value. Read More>>

Product Launch
Web Version of Meta’s Threads set to launch this week
Meta’s Threads platform and Twitter competitor is set to launch its web version. Despite gaining over 100 million users quickly, Threads has seen an 80% drop in weekly active users since its launch. Read More>>
Meta planning to launch free code-generating software to compete with OpenAI
Meta is gearing up to launch Code Llama, its open-source AI model for generating programming code. It aims to challenge established offerings like OpenAI’s Codex and Google’s solutions in the coding automation space. Read More>>

Executive Movement 
Greg Glenday named Chief Business Officer at Acast
Glenday will oversee global revenue and growth, while Ricardo Neto is named Vice President of Sales in the US, responsible for the region’s sales divisions. Read More>>

Layoff
Getir to Cut 11% of workers, announces Global Restructuring
Getir plans to cut 2,500 jobs across five countries, 10.9% of its workforce, as part of a global restructuring aimed at increasing operational efficiency. Read More>>

Strengths:

• Snowflake Inc. focuses on advancing its cross-cloud Snow grid capability that interconnects clouds and regions for customers to streamline collaboration with richer experiences and privacy-preserving controls and automate data protection.  
• Snowflake Inc. focuses on introducing a premier suite of tools, ‘Snow Convert,’ for efficiently migrating databases to the Data Cloud, using sophisticated automation techniques to reduce the need for manual coding.  
• Snowflake Inc. focuses on empowering the public sector with a cross-cloud data platform to enhance mission outcomes and enable public sector organizations to spend more time caring for citizens and students.

Weaknesses:

• Snowflake’s competitor’s platform growth in various public clouds may negatively impact the ability of the platform and put downward pressure on prices, gross margins, and financial conditions.  
• A security breach could negatively impact Snowflake Inc. through a cyber-attack, cyber intrusion, insider threats or otherwise, or other significant disruption of the IT networks and related systems or of those who operate for certain customers.  
• Snowflake Inc.’s operations could be adversely affected if it does not meet the evolving customer requirements, new technologies, or other market requirements with its updated innovation.

Key Funding Alert

Dunzo in talks to raise up to USD 100 Mn
The company is in talks with multiple investors for the potential investment, which could value Dunzo at around USD 1 billion. Dunzo offers a hyperlocal delivery service for groceries, medicines, and other essentials. The potential investment comes as the demand for online delivery services has surged due to the COVID-19 pandemic. Read More>>

Startup Spotlight

Company – Connectbase
Total Funding – USD 65.16 Mn
About: Connected2Fiber’s groundbreaking SaaS platform transforms the network sector. By seamlessly blending Account Based Marketing, Location Intelligence, and predictive algorithms, it achieves exceptional outcomes. Network owners and buyers enjoy boosted transparency, speed, and efficiency via automation and data-driven insights. Read More>>

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