SYS-CON MEDIA Authors: Esmeralda Swartz, Elizabeth White, Yeshim Deniz, Glenn Rossman, Pat Romanski

News Feed Item

Zendesk Announces 2014 Second Quarter Results

Zendesk, Inc. (NYSE: ZEN) today reported financial results for its second quarter ended June 30, 2014.

“We had a strong first quarter as a public company,” said Mikkel Svane, Founder, Chairman and CEO of Zendesk. “We steadily increased our revenue and our number of customer accounts, and showed improvement in our operating metrics. We attracted more enterprise customers, while also strengthening our core business with small- and medium-sized organizations.”

Results for the Second Quarter 2014

Revenue was $29.5 million for the quarter ended June 30, 2014, an increase of 80% over the prior year period and an increase of 18% from the quarter ended March 31, 2014.

GAAP net loss for the quarter ended June 30, 2014 was $21.7 million, and GAAP net loss per share was $0.48, based on 45.8 million weighted-average shares outstanding. Non-GAAP net loss was $10.1 million, and non-GAAP net loss per share was $0.16, which excludes approximately $11.1 million in share-based compensation related expenses (including $0.1 million of amortized share-based compensation capitalized in internal-use software), and $0.5 million of amortization of purchased intangibles. Non-GAAP net loss per share is based on 64.2 million non-GAAP weighted-average shares outstanding1.

Cash and cash equivalents were approximately $120.1 million as of June 30, 2014, including $106.1 million of net proceeds from our initial public offering and reflecting the repayment of a $20.0 million line of credit during the second quarter.

1 The non-GAAP weighted-average shares outstanding used to compute non-GAAP net loss per share assumes that the conversion of our redeemable convertible preferred stock that occurred in connection with our initial public offering occurred at the beginning of the relevant period.

Outlook

“As of August 5, 2014, Zendesk is initiating revenue and operating loss guidance for our third quarter of 2014 and revenue and operating loss guidance for calendar year 2014,” said Alan Black, Senior Vice President and CFO. “Our financial results for the second quarter of 2014 were ahead of our expectations. Looking forward, we intend to continue to reinvest to grow our business while remaining mindful of the need to balance our pace of reinvestment and our progress toward increased efficiency in our business model.”

For the third quarter of 2014, Zendesk expects to report:

  • Revenue in the range of $30.0 – 32.0 million.
  • GAAP operating loss of $19.5 – 20.5 million, which includes share-based compensation expense of approximately $8.0 million and amortization of intangibles of approximately $0.5 million.
  • Non-GAAP operating loss of $11.0 – 12.0 million, which excludes share-based compensation expense of approximately $8.0 million and amortization of intangibles of approximately $0.5 million.

For the full year 2014, the company expects to report:

  • Revenue in the range of $118.0 – 122.0 million.
  • GAAP operating loss of $72.0 – 74.0 million, which includes share-based compensation expense of approximately $30.0 million and amortization of intangibles of approximately $2.0 million.
  • Non-GAAP operating loss of $40.0 – 42.0 million, which excludes share-based compensation expense of approximately $30.0 million and amortization of intangibles of approximately $2.0 million.

Management Appointments

Zendesk is also pleased to announce the promotion of two senior managers, Anne Raimondi to Senior Vice President, Operations and Matt Price to Senior Vice President, Global Marketing. Zendesk also announced that William Macaitis had departed the company effective August 1, 2014. “I am proud of our accomplishments to date and feel really good about the breadth and depth of our bench going forward,” said Mikkel Svane.

Conference Call Information

Zendesk will host a conference call today, August 5, 2014, to discuss financial results at 2:00 p.m. Pacific Time, 5:00 p.m. Eastern Time. A live webcast of the conference call will be available at https://investor.zendesk.com. The conference call can also be accessed by dialing 877-201-0168, or +1 647-788-4901 (outside the U.S. and Canada). The conference ID is 73888745. A replay of the call via webcast will be available at https://investor.zendesk.com or by dialing 855-859-2056 or +1 404-537-3406 (outside the U.S. and Canada) and entering passcode 73888745. The dial-in replay will be available until the end of day August 7, 2014. The webcast replay will be available for 12 months.

About Zendesk

Zendesk provides a customer service platform designed to bring organizations and their customers closer together. With more than 45,000 customer accounts, Zendesk is used by organizations in 140 countries to provide support in more than 40 languages. Founded in 2007 and headquartered in San Francisco, Zendesk has operations in the United States, Europe, Asia, Australia and South America. Learn more at www.zendesk.com

Forward-Looking Statements

This press release contains forward-looking statements, including, among other things, statements regarding Zendesk’s future financial performance, its re-investment to grow its business, progress towards its long-term financial objectives, and its current leadership team. The words such as “may,” “should,” “will,” “believe,” “expect,” “anticipate,” “target,” “project,” and similar phrases that denote future expectation or intent regarding our financial results, operations and other matters are intended to identify forward-looking statements. You should not rely upon forward-looking statements as predictions of future events.

The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to differ materially, including (i) adverse changes in general economic or market conditions; (ii) our ability to adapt our customer service platform to changing market dynamics and customer preferences or achieve increased market acceptance of our platform; (iii) our expectation that the future growth rate of our revenues will decline, and that as our costs increase, we may not be able to generate sufficient revenues to achieve or sustain profitability; (iv) our limited operating history, which makes it difficult to evaluate our prospects and future operating results; (v) our ability to effectively manage our growth and organizational change; (vi) our ability to compete effectively in the intensely competitive market in which we participate; (vii) the development of the market for software as a service business software applications; (viii) our ability to sell our live chat software as a standalone service and more fully integrate our live chat software with our customer service platform; (ix) breaches in our security measures or unauthorized access to our customers’ data; (x) service interruptions or performance problems associated with our technology and infrastructure; (xi) real or perceived errors, failures, or bugs in our products; (xii) our substantial reliance on our customers renewing their subscriptions and purchasing additional subscriptions from us; and (xiii) our ability to effectively expand our sales capabilities.

The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in our filings with the Securities and Exchange Commission, including our final prospectus filed with the Securities and Exchange Commission on May 16, 2014 pursuant to Rule 424(b) of the Securities Act of 1933, as amended. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that Zendesk makes with the Securities and Exchange Commission from time to time.

Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

 

Condensed Consolidated Statements of Operations

(In thousands, except per share data; unaudited)

 
Three Months Ended June 30, Six Months Ended June 30,
2014   2013 2014   2013
 
Revenue $ 29,506 $ 16,396 $ 54,598 $ 30,307
Cost of revenue   11,731     5,681   20,726   10,551
Gross profit 17,775 10,715 33,872 19,756
Operating expenses:
Research and development 10,499 3,528 15,677 6,877
Sales and marketing 20,339 8,208 34,626 16,203
General and administrative   8,315   5,140   14,699   8,098
Total operating expenses   39,153   16,876   65,002   31,178
Operating loss (21,378 ) (6,161 ) (31,130 ) (11,422 )
Other expense, net   (450 )   (133 )   (909 )   (210 )
Loss before provision for income taxes (21,828 ) (6,294 ) (32,039 ) (11,632 )
Provision (benefit) for income taxes   (85 )   58   (36 )   78
Net loss (21,743 ) (6,352 ) (32,003 ) (11,710 )
Accretion of redeemable convertible preferred stock   (6 )   (12 )   (18 )   (24 )
Net loss attributable to common stockholders $ (21,749 ) $ (6,364 ) $ (32,021 ) $ (11,734 )
 
Net loss per share attributable to common stockholders, basic and

Diluted

$ (0.48 ) $ (0.30 ) $ (0.95 ) $ (0.55 )
Weighted-average shares used to compute net loss per share

attributable to common stockholders, basic and diluted

  45,760   21,568   33,817   21,213
   

Condensed Consolidated Balance Sheets

(In thousands, except par value; unaudited)

June 30, December 31,
2014 2013
 
Assets
Current Assets:
Cash and cash equivalents $ 120,054 $ 53,725
Marketable securities 9,430 9,889
Accounts receivable, net of allowance for doubtful accounts of $361 and $282, respectively 9,655 7,237
Prepaid expenses and other current assets   5,806   3,008
Total current assets 144,945 73,859
Marketable securities, noncurrent 2,764 2,225
Property and equipment, net 38,160 15,431
Goodwill and intangible assets, net 15,961
Other assets   1,482   1,221
Total assets $ 203,312 $ 92,736
 
Liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit)
Current liabilities:
Accounts payable $ 6,758 $ 3,988
Accrued liabilities 11,764 4,737
Accrued compensation and related benefits 7,971 4,226
Deferred revenue 38,526 28,473
Current portion of credit facility 2,685 365
Current portion of capital leases   195   364
Total current liabilities 67,899 42,153
Deferred revenue, noncurrent 462 575
Credit facility, noncurrent 5,015 23,395
Capital leases, noncurrent 10
Other liabilities   8,193   1,510
Total liabilities   81,569   67,643
 
Redeemable convertible preferred stock, par value $0.01 per share     71,369
Stockholders’ equity (deficit):
Preferred stock, par value $0.01 per share
Common stock, par value $0.01 per share 715 229
Additional paid-in capital 217,815 18,591
Accumulated other comprehensive income 322 10
Accumulated deficit (96,457 ) (64,454 )
Treasury stock at cost   (652 )   (652 )
Total stockholders’ equity (deficit)   121,743   (46,276 )
Total liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit) $ 203,312 $ 92,736
 

Condensed Consolidated Statements of Cash Flows

(In thousands; unaudited)

 
Three Months Ended June 30,
2014   2013
Cash flows from operating activities
Net loss $ (21,743 ) $ (6,352 )
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization 2,696 1,209
Share-based compensation 10,983 2,466
Other 42 9
Changes in operating assets and liabilities:
Accounts receivable (682 ) (191 )
Prepaid expenses and other current assets (1,764 ) 116
Other assets and liabilities (261 ) 129
Accounts payable 242 332
Accrued liabilities (352 ) 501
Accrued compensation and related benefits 1,808 (187 )
Deferred revenue   5,539   2,075
Net cash used in operating activities (3,492 ) 107
Cash flows from investing activities
Purchases of property and equipment (9,517 ) (1,070 )
Internal-use software development costs (2,114 ) (1,284 )
Purchases of marketable securities (6,464 ) (660 )
Proceeds from maturities of marketable securities 4,850
Cash paid for the acquisition of Zopim, net of cash acquired   (112 )  
Net cash used in investing activities (13,357 ) (3,014 )
Cash flows from financing activities
Proceeds from initial public offering, net of issuance costs 106,139
Proceeds from exercise of employee stock options 979 165
Principal payments on debt (20,000 )
Tax paid related to net share settlement of equity awards (969 )
Principal payments on capital lease obligations   (90 )   (84 )
Net cash provided by financing activities   86,059   81
Effect of exchange rate changes on cash and cash equivalents   (11 )   11
Net increase (decrease) in cash and cash equivalents 69,199 (2,815 )
Cash and cash equivalents at the beginning of period   50,855   32,693
Cash and cash equivalents at the end of period $ 120,054 $ 29,878
   

Non-GAAP Results

(In thousands, except per share data)

 

 

The following table shows Zendesk’s GAAP results reconciled to non-GAAP results included in this release.

 
Three Months Ended
June 30,
Six Months Ended
June 30,
2014     2013 2014   2013
Reconciliation of gross profit and gross margin:      
GAAP gross profit $ 17,775 $ 10,715 $ 33,872 $ 19,756
Plus: Share-based compensation 1,010 61 1,100 100
Plus: Amortization of purchased intangibles 377 418

Plus: Amortization of share-based compensation capitalized in internal-use software

  147   14   167   26
Non-GAAP gross profit $ 19,309 $ 10,790 $ 35,557 $ 19,882
GAAP gross margin 60 % 65 % 62 % 65 %
Non-GAAP adjustments   5 %   1 %   3 %   1 %
Non-GAAP gross margin   65 %   66 %   65 %   66 %
 
Reconciliation of operating expenses:
GAAP research and development $ 10,499 $ 3,528 $ 15,677 $ 6,877
Less: Share-based compensation   (4,168 )   (155 )   (4,478 )   (226 )
Non-GAAP research and development $ 6,331 $ 3,373 $ 11,199 $ 6,651
GAAP research and development as percentage of revenue 36 % 22 % 29 % 23 %
Non-GAAP research and development as percentage of revenue 21 % 21 % 21 % 22 %
 
GAAP sales and marketing $ 20,339 $ 8,208 $ 34,626 $ 16,203
Less: Share-based compensation (3,268 ) (229 ) (3,758 ) (388 )
Less: Amortization of purchased intangibles   (98 )     (109 )  
Non-GAAP sales and marketing $ 16,973 $ 7,979 $ 30,759 $ 15,815
GAAP sales and marketing as percentage of revenue 69 % 50 % 63 % 53 %
Non-GAAP sales and marketing as percentage of revenue 58 % 49 % 56 % 52 %
 
GAAP general and administrative $ 8,315 $ 5,140 $ 14,699 $ 8,098
Less: Share-based compensation (2,537 ) (2,022 ) (3,471 ) (2,155 )
Less: Transaction costs related to acquisition  

    (649 )  
Non-GAAP general and administrative $ 5,778 $ 3,118 $ 10,579 $ 5,943
GAAP general and administrative as percentage of revenue 28 % 31 % 27 % 27 %
Non-GAAP general and administrative as percentage of revenue 20 % 19 % 19 % 20 %
 
Reconciliation of operating loss and operating margin:
GAAP operating loss $ (21,378 ) $ (6,161 ) $ (31,130 ) $ (11,422 )
Plus: Share-based compensation 10,983 2,467 12,807 2,869
Plus: Amortization of purchased intangibles 475 527
Plus: Transaction costs related to acquisition 649
Plus: Amortization of share-based compensation capitalized in

internal-use software

  147   14   167   26
Non-GAAP operating loss $ (9,773 ) $ (3,680 ) $ (16,980 ) $ (8,527 )
GAAP operating margin (72 %) (38 %) (57 %) (38 %)
Non-GAAP adjustments   39 %   16 %   26 %   10 %
Non-GAAP operating margin   (33 %)   (22 %)   (31 %)   (28 %)
 
Reconciliation of net loss attributable to common stockholders:
GAAP net loss attributable to common stockholders $ (21,749 ) $ (6,364 ) $ (32,021 ) $ (11,734 )
Plus: Share-based compensation 10,983 2,467 12,807 2,869
Plus: Amortization of purchased intangibles 475

527

Plus: Transaction costs related to acquisition

649

Plus: Amortization of share-based compensation capitalized in

internal-use software

  147   14   167   26
Non-GAAP net loss attributable to common stockholders $ (10,144 ) $ (3,883 ) $ (17,871 ) $ (8,839 )
 

Reconciliation of net loss per share attributable to common stockholders,
basic and diluted:

GAAP net loss per share attributable to common stockholders, basic and diluted $ (0.48 ) $ (0.30 ) $ (0.95 ) $ (0.55 )
Non-GAAP adjustments to net loss 0.25 0.12 0.42 0.14
Non-GAAP adjustment to weighted-average shares used to compute net loss per share   0.07   0.11   0.23   0.25
Non-GAAP net loss per share attributable to common stockholders, basic and diluted $ (0.16 ) $ (0.07 ) $ (0.30 ) $ (0.16 )
 

Reconciliation of weighted-average shares used to compute net loss
per share attributable to common stockholders:

GAAP weighted-average shares used to compute net loss per share
attributable to common stockholders, basic and diluted

45,760 21,568 33,817 21,213
Conversion of preferred stock   18,482   34,323   26,359   34,323

Non-GAAP weighted-average shares used to compute net loss per share
attributable to common stockholders, basic and diluted

  64,242   55,891   60,176   55,536

About Non-GAAP Financial Measures

To provide investors and others with additional information regarding Zendesk’s results, the following non-GAAP financial measures were disclosed: non-GAAP gross profit and gross margin, non-GAAP operating expenses, non-GAAP operating loss and operating margin, non-GAAP net loss attributable to common stockholders, non-GAAP net loss per share attributable to common stockholders, basic and diluted, and non-GAAP weighted-average shares.

Specifically, Zendesk excludes the following from its historical and prospective non-GAAP financial measures, as applicable:

Share-based Compensation and Amortization of Share-based Compensation Capitalized in Internal-use Software: Zendesk utilizes share-based compensation to attract and retain employees. It is principally aimed at aligning their interests with those of its stockholders and at long-term retention, rather than to address operational performance for any particular period. As a result, share-based compensation expenses vary for reasons that are generally unrelated to financial and operational performance in any particular period.

Amortization of Purchased Intangibles and Acquisition Related Expenses: Zendesk views amortization of purchased intangible assets, including the amortization of the cost associated with an acquired entity’s developed technology, as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are evaluated for impairment regularly, amortization of the cost of purchased intangibles is an expense that is not typically affected by operations during any particular period. Zendesk views acquisition related expenses as events that are not necessarily reflective of operational performance during a period. In particular, Zendesk believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods, which may or may not include such expenses.

Zendesk uses non-GAAP financial information to evaluate its ongoing operations and for internal planning and forecasting purposes. Zendesk's management does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Zendesk presents such non-GAAP financial measures in reporting its financial results to provide investors with an additional tool to evaluate Zendesk's operating results. Zendesk believes these non-GAAP financial measures are useful because they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making. This allows investors and others to better understand and evaluate operating results and future prospects in the same manner as management.

Zendesk's management believes it is useful for itself and investors to review, as applicable, both GAAP information that may include items such as share-based compensation expense, amortization of share based compensation capitalized in internal-use software, amortization of purchased intangibles, transaction costs related to acquisitions, and the non-GAAP measures that exclude such information in order to assess the performance of Zendesk's business and for planning and forecasting in subsequent periods. Whenever Zendesk uses such a non-GAAP financial measure, it provides a reconciliation of the non-GAAP financial measure to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measure as detailed above.

Source: Zendesk, Inc.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
Blue Box has closed a $10 million Series B financing. The round was led by a strategic investor and included participation from prior investors including Voyager Capital and Founders Collective, as well as the Blue Box executive team. This round follows a $4.3 million Series A closed in December of 2012 and led by Voyager Capital. In May of this year, the company announced general availability of its private cloud as a service offering, Blue Box Cloud. Since that release, the company has dem...
SYS-CON Events announced today that Verizon has been named "Gold Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Verizon Enterprise Solutions creates global connections that generate growth, drive business innovation and move society forward. With industry-specific solutions and a full range of global wholesale offerings provided over the company's secure mobility, cloud, strategic network...
Ixia develops amazing products so its customers can connect the world. Ixia helps its customers provide an always-on user experience through fast, secure delivery of dynamic connected technologies and services. Through actionable insights that accelerate and secure application and service delivery, Ixia's customers benefit from faster time to market, optimized application performance and higher-quality deployments.
SimpleECM is the only platform to offer a powerful combination of enterprise content management (ECM) services, capture solutions, and third-party business services providing simplified integrations and workflow development for solution providers. SimpleECM is opening the market to businesses of all sizes by reinventing the delivery of ECM services. Our APIs make the development of ECM services simple with the use of familiar technologies for a frictionless integration directly into web applicat...
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic...
Cloudwick, the leading big data DevOps service and solution provider to the Fortune 1000, announced Big Loop, its multi-vendor operations platform. Cloudwick Big Loop creates greater collaboration between Fortune 1000 IT staff, developers and their database management systems as well as big data vendors. This allows customers to comprehensively manage and oversee their entire infrastructure, which leads to more successful production cluster operations, and scale-out. Cloudwick Big Loop supports ...
To manage complex web services with lots of calls to the cloud, many businesses have invested in Application Performance Management (APM) and Network Performance Management (NPM) tools. Together APM and NPM tools are essential aids in improving a business’s infrastructure required to support an effective web experience… but they are missing a critical component – Internet visibility. Internet connectivity has always played a role in customer access to web presence, but in the past few years use...
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, will discuss how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP ...
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation...
What are the benefits of using an enterprise-grade orchestration platform? In their session at 15th Cloud Expo, Jeff Tegethoff, CEO of Appcore, and Kedar Poduri, Senior Director of Product Management at Citrix Systems, will take a closer look at the architectural design factors needed to support diverse workloads and how to run these workloads efficiently as a service provider. They will also discuss how to deploy private cloud environments in 15 minutes or less.
Headquartered in Santa Monica, California, Bitium was founded by Kriz and Erik Gustavson. The 1,500 cloud-based application using Bitium’s analytics, app management, and single sign-on services include bug trackers, customer service dashboards, Google Apps, and social networks. The firm states website administrators can do multiple tasks online without revealing passwords. Bitium’s advisors include Microsoft’s former CMO and the former senior vice president of strategy, the founder and CEO of Li...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. ...
StackIQ offers a comprehensive software suite that automates the deployment, provisioning, and management of Big Infrastructure. With StackIQ’s software, you can spin up fully configured big data clusters, quickly and consistently — from bare-metal up to the applications layer — and manage them efficiently. Our software’s modular architecture allows customers to integrate nearly any application with the StackIQ software stack.
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, will address the big issues involving these technologies and, more important, the results they will achieve. How important are public, private, and hybrid cloud to the enterprise? How does one define Big Data? And how is the IoT tying all this together?
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce t...
TechCrunch reported that "Berlin-based relayr, maker of the WunderBar, an Internet of Things (IoT) hardware dev kit which resembles a chunky chocolate bar, has closed a $2.3 million seed round, from unnamed U.S. and Switzerland-based investors. The startup had previously raised a €250,000 friend and family round, and had been on track to close a €500,000 seed earlier this year — but received a higher funding offer from a different set of investors, which is the $2.3M round it’s reporting."...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, da...
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. ...
In his session at 15th Cloud Expo, Mark Hinkle, Senior Director, Open Source Solutions at Citrix Systems Inc., will provide overview of the open source software that can be used to deploy and manage a cloud computing environment. He will include information on storage, networking(e.g., OpenDaylight) and compute virtualization (Xen, KVM, LXC) and the orchestration(Apache CloudStack, OpenStack) of the three to build their own cloud services.