1. Data.world Supports Fortune 500 Companies
The Austin-based social networking site for data projects, Data.world, announced a $12M investment raised to strengthen data usage for Fortune 500 companies. Digital-age companies have established “set data cultures,” using high-quality data to drive decision-making. However, many Fortune 500 companies are wrestling with their data. “There is a huge data divide that has occurred between these big, traditional companies that were built from the ground up from atoms and these digital-age companies that were built from the ground up from bits,” says Data.world CEO, Brett Hurt. Data.world has raised $45M to date and will be using this capital to solve this divide and further roll out their enterprise offering – customers already include Microsoft Excel and Power BI, IBM SPSS, MicroStrategy, Google Data Studio and more.
(Source: TechCrunch)
2. Facebook Loses Instagram Leaders
Facebook must say farewell to leaders as their subsidiary, Instagram, announces the resignation of their co-founders. Both CEO, Kevin Systrom, and CTO, Mike Krieger, plan to depart within the next few weeks. The two express that by removing themselves from work, they can fulfill their desire to express their creativity and discover new inspirations. There have been reports of other motivators, including frustration with Zuckerberg, who exhaustively relies on Instagram for Facebook’s growth. Facebook bought Instagram for $1B in 2012 and uses it to attract young users.
(Source: AdAge)
3. Starbucks Combats Low Sales Growth
As coffee giant Starbucks’ sales begin to lessen, the company has been working extensively to distinguish themselves on the top once again. The company is planning to remodel their company by laying off employees beginning with top level corporate positions. The company is also focusing on innovation, adding new items to the menu like a strawberry Frappuccino and chorizo sous vide egg bites. They hope to reverse their stationary sales and prompt interest from new investors. Delivery will also be a feature Starbucks is testing as the company has already partnered with UberEats in over 100 Miami locations.
