We look at Rackspace’s finances, a Facebook code change causes numerous app issues and electric vehicle company Rivian raises $2.5 billion. Here’s your Daily Crunch for July 10, 2020.
The big story: Rackspace is going public again
The cloud computing company first went public in 2008, before accepting a $4.3 billion offer to go private from Apollo Global Management. Rackspace says it will use the proceeds from the IPO to lower its debt load. Alex Wilhelm took a deep dive into Rackspace’s finances , concluding that the proper valuation is a “puzzle”: The company is tech-ish, which means it will find some interest. But its slow growth rate, heavy debts and lackluster margins make it hard to pin a fair multiple onto. The tech giants
New report outlines potential roadmap for Apple’s ARM-based MacBooks — Analyst Ming-Chi Kuo said that a 13.3-inch MacBook powered by Apple’s new processors will arrive in the fourth quarter of this year.
Facebook code change caused outage for Spotify, Pinterest and Waze apps — Looks like Facebook was responsible for some crashing apps this morning.
California reportedly launches antitrust investigation into Google — This makes California the 49th state to launch an antitrust investigation into the search giant, according to Politico .
Startups, funding and venture capital Rivian raises $2.5 billion as it pushes to bring its electric RT1 pickup, R1S SUV to market — The company plans to bring its electric pickup truck and SUV, as well as delivery vans for […]
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