Shopify acquires Remix to bolster its headless commerce framework and sharpen performance and scalability

Key Signals in Enterprise Software

Centre Setup and Expansion
Oracle and Microsoft form multi-cloud in South Africa 
A new Oracle Interconnect opened in the Microsoft MSFT Azure location in Johannesburg, South Africa. The new location will provide direct connectivity between the Oracle Cloud Johannesburg region and the Microsoft Azure South Africa North region. Read More>>
Vertiv opens office and customer experience center in Kenya 
Vertiv opened its new office and state-of-the-art Customer Experience Centre in Nairobi. With an increasing demand for high-efficiency critical infrastructure in East Africa, this center supports Vertiv’s efforts in offering digital infrastructure solutions to local customers. Read More>>
Rackspace Technology launches Cloud Innovation Center in India 
Rackspace Technology announced its new Cloud Innovation Center (CIC) department in Hyderabad and Delhi NCR. It will focus on deepening customer engagement with in-depth, cloud-first expertise as a trusted technology advisor. Read More>>
VEEM wins Hunter frigate order from BAE 
VEEM received an order from BAE Systems Australia to manufacture demonstrator blades and hubs for the Hunter Class Frigate Program. The USD 1.7 Mn order, known as a targeted task, enables VEEM to formally demonstrate that it has the propeller manufacturing capability to deliver into the HCFP supply chain. Read More>>
Ethiopian Airlines has renewed its agreement with Travelport International Operations Ltd. 
Ethiopian Airlines renewed its agreement with Travelport International Operations Ltd. to distribute Travelport+ and other related products of Travelport in Ethiopia. The renewed agreement includes Travelport’s new features and products to be deployed in Ethiopia’s agency market and remains effective until the end of 2026. Read More>>
Idemia NA fingerprint biometrics contract for US immigration extended 
The company has had its biometrics contract with U. S. Citizenship and Immigration Services (USCIS) extended through 2027. Idemia Livescan will be used to capture fingerprint biometrics from applicants and submit them to the Federal Bureau of Investigation (FBI) and the Office of Biometric Identity Management. Read More>>
Mergers and Acquisitions
Sourcepass acquires Microsoft Dynamics Specialist Infinity Computer Systems 
Sourcepass expanded its Microsoft practice with its fifth MSP acquisition in under a year, purchasing Microsoft Dynamics 365 expert Infinity Computer Systems. Infinity Computer Systems is a Microsoft Dynamics integrator and service provider with clients across multiple industries who use Dynamics as their ERP, CRM, or business intelligence tools. Read More>>
InComm Payments acquires The Card Network 
InComm acquired The Card Network (TCN), an Australian-based gift card provider known for its suite of creatively themed, multi-brand gift cards. The acquisition enhances InComm Payments’ ability to create personable gift card products that consumers seek while supporting business growth for its brand and retail partners. Read More>>
LambdaTest collaborates with Microsoft 
LambdaTest launched a Playwright testing cloud powered by HyperExecute and announced deep integrations with Microsoft Azure DevOps and GitHub Actions. The collaboration spans deep-tech integrations, certification courses, and exclusive offers to Microsoft customers. Read More>>
Adform and Ipsos MMA announce analytics partnership 
The two companies teamed up to provide advertisers with customer journey analytics without third-party cookies. The announcement comes at a valuable time for many companies as increased advertising platforms (DSPs and ad servers) are doing away with third-party IDs, and advertisers can no longer easily monitor the effectiveness of their media campaigns. Read More>>
DXC Technology expands global partnership with Dynatrace, accelerating business transformation for customers 
DXC Technology expanded its partnership with Dynatrace. The Dynatrace Software Intelligence Platform will become the preferred DXC Platform X software for observability and artificial intelligence-powered automated management of a customer’s IT estate. Read More>>
 Executive Movements
DataBank amplifies ESG Strategy with the appointment of Sr. Director of sustainability 
Databank appointed Jenny Gerson as Sr. Director, Sustainability, responsible for creating and implementing Databank’s Environmental, Social, and Governance strategy. Gerson is currently conducting a materiality assessment to engage internal and external stakeholders and determine the high-priority ESG topics that impact DataBank. Read More>>
Rey Perez appointed Chief Customer Officer of Confluent 
Confluent appointed Rey Perez as Chief Customer Officer. As CCO, Rey will lead the customer success, sales engineering services, training, and support teams as data streaming becomes a core part of modern businesses’ operations. Read More>>
Dynatrace names Jim Benson as Chief Financial Officer 
Dynatrace appointed Jim Benson as Chief Financial Officer (CFO). Benson has a broad business background with more than 30 years of experience at market-leading technology companies. Benson most recently served as executive vice president and CFO at Akamai Technologies, a global cloud services, and cybersecurity leader. Read More>>

Key Signals in Consumer Software

GFA signs a three-year sponsorship deal with Uber 
The Ghana Football Association (GFA) inked a three-year sponsorship deal with Uber as the official e-hailing partner. Per the deal, Uber is obliged to design services for football fans who travel far and near to watch the domestic leagues and national team matches in the Greater Accra Region, Kumasi, Cape Coast, Tamale, Takoradi, and Sunyani. Read More>>
Getir signs a rapid delivery deal with a co-op in London 
Getir secured a deal with the Co-op to list its products at certain London stores. The move by the Turkish-founded startup comes at a time when on-demand delivery services seek out additional revenue streams in what is currently a low-margin and unprofitable model. Read More>>
Merger and Acquisition
Shopify acquires Remix to bolster its storefront design tools 
Remix will receive long-term backing and support from Shopify, allowing it to grow faster and sharpen its focus on performance and scalability. Shopify itself will use Remix across many projects and can expect to see more of Shopify’s developer platform include first-class support for Remix over time. Read More>>
Netflix partnership boosts digital ad revenue to USD 29 Bn 
Microsoft estimated the ad revenue opportunity with the introduction of Netflix’s new ad-tier subscription in partnership with Microsoft based on the average ad revenue per user. They forecasted the growth of Netflix’s ad-tier subscriber growth to estimate the revenue opportunity for Microsoft. Read More>>
Revolut and Sweatcoin partner for free premium account promotion 
The two companies have quietly come together in a partnership that could offer many people a sneak peek into their premium worlds. The two fintech powerhouses have partnered to offer six months of Sweatcoin premium and three months of Revolut premium, all for free. Read More>>
Schnucks will launch a 30-minute delivery partnership with Instacart 
Schnucks will launch Schnucks Now, an online delivery service focused on fulfilling convenience orders fast, as rapidly as 30 minutes. Customers can access it at all Schucks’ locations through the Schnucks Rewards App or the Instacart Convenience Hub. Read More>>
Executive Movements
Himanshu Chakrawarti was appointed as the new CEO of the Snapdeal marketplace business 
The AceVector Group has elevated Himanshu Chakrawarti as the chief executive officer (CEO) of the Snapdeal marketplace business. Chakrawarti participated in driving the platform’s value commerce strategy and has been instrumental in steering various growth-related and operational initiatives. Read More>>
TrueCar appoints Brendan Harrington to its Board of Directors 
TrueCar elected Brendan Harrington, General Manager of Capistrano Valley Toyota, to its Board of Directors. After these changes, TrueCar’s Board remains comprised of eight directors, three of whom are women and seven of whom are independent. Mr. Harrington has experience in automotive retail. Read More>>
Revolut India appoints Arjun Mehta as the new CFO 
Revolut appointed Arjun Mehta as the new chief financial officer for its India operations. Mehta has almost two decades of experience in the finance industry. He will lead the company’s channel development, expense management, and revenue planning in his new role. Read More>>
Wellness tech company Mindbody cuts jobs 
The San Luis Obispo, California-based company, cut ninety-four jobs on Nov. 1. Representatives from Mindbody did not respond to a request for comment. It is the second job culling in less than three years at Mindbody, which laid off seven hundred employees in April 2020, just as the COVID-19 pandemic had started. Read More>>
Lyft laid off 13% of workers in the second round of cuts this year but maintained financial guidance 
Lyft laid off sixty employees as it ended direct car rentals. It was not changing its financial guidance when it reported second-quarter results. The layoffs are across teams, with about 25% of the cuts affecting employees in California. Read More>>
Financial and Market Activity
Flipkart lost INR 9.3 Cr/day (USD 1.1 Mn) in the last 365 Days 
Despite the increase in revenues, the consolidated net loss widened to INR 3,413 Cr (USD 416.28 Mn) in the budget year 2021-22. A net loss of INR 2,445.6 Cr (USD 298.29 Mn) in the previous budget year 2020-21. In FY21, the total net income, both on a standalone and consolidated basis, increased by about 18% to INR 51,175.7 Cr (USD 6.2 Bn) from INR 43,349.1 Cr (USD 5.2 Bn). Read More>>

Latest Industry Insights from Draup Braindesk

  1. Meta focuses on developing advertising services and digital platforms to enhance online operations. 
  2. Meta is keen on providing networking and broadcasting solutions by leveraging digital technologies like Artificial Intelligence, Big Data, Cloud, Machine Learning, and Data Analytics. 
  3. Meta deploys AI/ML technologies that help a user with voice-over services for communication and provide virtual assistant services to offer solutions for user queries. 
  4. Meta intends to develop chatbots that enable customers to search for information and topics with secure voice services. 
  5. San Francisco Bay Area, United States, serves as the critical location for Meta, focusing on IT Consulting and Software Testing related engagements. 
  6. Wipro is Meta’s major outsourcing partner, working on Consulting & System Integration and Product Engineering Services related engagements. 

Key Funding Alert

Walmart to raise USD 3 Bn for Flipkart 
Flipkart is considering fundraising at a more than USD 40 Bn valuation to expand its product range in India and challenge rivals. Last year, Flipkart raised USD 3.6 Bn in a funding round, giving it a valuation of USD 37.6 Bn. Read More>>

Startup Spotlight

Company – Capitalizarme
Total Funding – USD 11.63 Mn
About: Capitalizarme is an E2E marketplace, just like Amazon or MeLi, but for real estate assets. The company chooses the best investment options and simplifies the process of making a responsible investment, democratizing the market for first-time investors. Read More>>
Latest Reports Published in Draup
Uber Account Intelligence Report 
Uber is developing digital payments and applications to increase the company’s growth. It strives for partnerships and geographic expansions in its grocery delivery in 2022 and views this potential development with digital solutions. Read More>> – Account Intelligence Report 
Cloud, artificial intelligence, real-time analytics, customer relationship management, and data analytics are the key trends of Salesforce. Service Cloud enables users to automate service processes, streamline workflows and find key articles and experts to support customer service agents. Read More>>
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