Darktrace revenue hits $200m as it confirms London float April 12, 2021 Darktrace today said its revenue surged to almost $200m (£146m) thanks to the pandemic as it confirmed plans to float on the London Stock Exchange. In a filing this morning the Cambridge-based tech firm unveiled its intention to list in London, with its registration document due to be published later today. Darktrace did not provide [...]
UK tech industry grows tenfold in last decade as London leads Europe May 19, 2021 The UK tech industry has expanded tenfold over the last 10 years as London continues to close the gap on Silicon Valley. Between 2010 and 2020 the number of British unicorns — private tech firms valued at more than $1bn — grew from eight to 81, while the number of companies nearing unicorn status also [...]
Made.com considers public listing amid pandemic boom February 12, 2021 Online retailer Made.com is said to be mulling an IPO after a bumper year of sales amid the pandemic. The furniture specialist is in talks with banks about its options, which could include a public listing valuing the company at more than £500m, according to Sky News. City A.M. understands Made.com has not yet appointed [...]
Curve launches NFT auction in bid to raise cash for London theatres March 26, 2021 Fintech Curve has joined the NFT bandwagon and launched an auction in a bid to raise cash for London’s theatres that have been left devastated by the pandemic. Non-fungible tokens are cryptocurrency takens which certify the ownership of a unique digital file using blockchain. They have become a way for creatives to raise cash during [...]
Higher than expected inflation clip drags London markets down September 15, 2021 London’s FTSE 100 dipped today, driven lower by a higher than expected inflation clip in August fuelling concerns the Bank of England may rein in stimulus measures sooner than forecast. The capital’s premier index closed down 0.25 per cent to 7,016.49 points, while the mid-cap FTSE 250 finished 1.07 per cent to lower, dropping to [...]
Strict new cybersecurity requirements could burst China’s tech bubble July 30, 2021 Covid has driven ubiquitous growth in digital services in nations as geographically far apart as the UK and China. London has seen massive tech IPOs this year with listings of Deliveroo, Alphawave and Wise. However, the sharp rise in digitalisation has brought an inevitable need for businesses to protect their networks, as vast swathes of [...]
Soho House mulls $3bn New York listing amid IPO boom February 25, 2021 Private members’ club Soho House is the latest company reportedly mulling a New York listing with a valuation of up to $3bn. Soho House, which operates 27 clubs around the world, first considered a Wall Street listing in 2018. This time round the company has hired JP Morgan and Morgan Stanley and is looking to [...]
Bill Gates-backed Evolv goes public in $1.7bn Spac deal March 8, 2021 Crowd safety company Evolv Technology is merging with a special acquisition company (Spac) to go public in a deal that values the firm at $1.7bn. Evolv will merge with NewHold Investment Corp and the combined company expects to receive approximately $470m in gross proceeds. Following the closing of the transaction the company will be led [...]
Aldi launches first click and collect trial September 14, 2020 Aldi has launched its first click and collect trial as the budget supermarket seeks to attract new customers amid rising demand for online shopping. The German discounter is running the trial for Aldi employees from a store in the Midlands and is planning to extend the service to customers in the coming weeks. If the [...]
Beleaguered Cineworld tops the list of 10 most shorted UK stocks April 15, 2021 Cineworld tops the list of 10 most shorted stocks in the UK as hedge funds take aim at the cinema which has been forced to shut for over a year. A “short” is a method of betting against a stock, so that the investor can make a profit if the share price falls. Investors borrow [...]