PayPal beat The Street when it reported fourth-quarter earnings after the bell on Wednesday. The global payments giant surpassed analyst expectations for both sales and profit. The company reported $3.71 billion in revenue on a foreign-exchange neutral basis, or 24% growth from the same period last year. Analysts were expecting $3.63 billion in revenue for the quarter. Adjusted earnings per share were 55 cents, compared to the 52 cents that Wall Street forecast. But shares later ticked down as much as 14% in after-hours trading, after eBay announced that it is making competitor Adyen its primary checkout partner. PayPal will remain a checkout option, however, with the two companies agreeing to extend their partnership through July 2023. “eBay has signed an agreement with Adyen, a leading global payments processor, to become its primary payments processing partner. PayPal, a long-time eBay partner, will be a payments option at checkout for eBay buyers,” read the eBay … [Read more...] about PayPal beats Wall Street quarterly expectations; shares fall on eBay partnership change
Reporters 3rd july 2015
Sakurajima volcano in Japan marked its 500th eruption of the year with an impressive pyrotechnic display on Sunday (Aug. 18) at 4:31 p.m. local time.The island volcano unleashed a pyroclastic flow, which is a superheated mix of volcanic gas, ash and debris that can race down a slope at more than 200 mph (320 km/h), according to Japan's Meteorological Agency. The eruption tossed large volcanic cinders (pieces of hot lava) more than 5,900 feet (1,800 meters) from the volcano's Showa crater, one of two active craters atop Sakurajima.Ash spurted more than 16,400 feet (5,000 m) into the sky, then drifted westward toward the nearby city of Kagoshima, raining down on residents who walked around town carrying umbrellas and wearing masks for protection, according to news reports.Residents living near Sakurajima were prepared for fallout. On the island, children are already required to wear hardhats on their walks to school, said David Fee, a geophysicist with the Alaska Volcano Observatory and … [Read more...] about 500th Eruption! Why Japan’s Sakurajima Volcano Is So Active
Go-Jek, the Indonesia-based ride-hailing company that is challenging Grab in Southeast Asia, has announced the first close of its Series F round, as TechCrunch reported last week. The company isn’t revealing numbers. Sources told us last week that it has closed around $920 million, but we understand that today the round is at more than $1 billion. Go-Jek is planning to raise $2 billion for the round, as reported last year. Go-Jek said the first close is led by existing backers Google, JD.com and Tencent, with participation from Mitsubishi Corporation and Provident Capital. It didn’t provide a valuation, but sources told us last week that it is around $9.5 billion. Starting out with motorbike taxis in 2015, Go-Jek has since expanded to taxis, private cars and more. The company said it plans to spend the money deepening its business in Indonesia, its home market, and growing its presence in new market expansions Vietnam, Singapore and Thailand. It is also … [Read more...] about Go-Jek makes first close of Series F round at $9.5B valuation
At nighttime, ominous lightning flashes above erupting volcanoes light up the sky like a living nightmare. Now, scientists are closer to understanding volcanic lightning, which stems from both ash and ice, two new studies reveal.Unraveling the origin of volcanic lightning has been difficult. In thunderstorms, the culprits are colliding ice crystals, which generate enough of an electric charge to trigger lightning. But ash clouds are less predictable and harder to study than supercells (thunderstorms), so scientists are still trying to figure out what sets off volcanic lightning. For instance, it seems absurd to blame ice for lightning in a volcanic inferno.Two new studies reveal different reasons for lightning above erupting volcanoes. One cause is static electricity, from particles rubbing together in dense ash clouds near the ground. The other source of lightning happens near the stratosphere, high above the Earth's surface, where jockeying ice crystals unleash powerful jolts. … [Read more...] about What Causes Eerie Volcanic Lightning?
Viva Republica, the company behind Korean financial services app Toss, has closed a $48 million Series C funding round that includes a strategic investment from payment giant PayPal. The deal is PayPal’s second investment this year — coming just days after it backed health startup Virta — but the round was led by San Mateo-based VC firm Goodwater Capital, which led Viva Republica’s Series B round and counts Korean tech giants Kakao (messaging) and Coupang (e-commerce) among its portfolio. Bessemer Venture Partners, Altos Ventures and Partech Ventures also participated in the round. The deal takes Viva Republica to $76 million raised to date. The company didn’t provide a post-money valuation, but Goodwater Capital partner Eric Kim said there’s “a clear path to it becoming one of Asia’s most significant fintech unicorns.” Viva Republica is known for Toss, a financial services platform that started out … [Read more...] about Korea’s top financial services startup lands $48M from PayPal and others