On this episode Of Scaling Up, March Capital managing partner, Jamie Montgomery and Forbes futurist Rich Karlgaard talk to Bill.com’s founder and CEO, René Lacerte. Bill.com is a fast-growing cloud software company that sells automated payment services for small and medium sized businesses. When we interviewed Lacerte, BILL was worth $8 billion in market cap; today it is $9.12 billion. We talked about fast growth leadership, mentorship secrets, and how Lacerte’s father was a pianist for the late Gram Parsons, even though Lacerte’s father was missing four fingers.

Click below for video.

MORE FROM FORBESPersonal Growth Needs To Be Every CEO’s Top Priority, Says Bill.com’s Rene Lacerte

The following transcript has been edited for clarity and length.

Rich Karlgaard:  René, what was your original mission, how was it progressed, and the fundamental question – why is what you do important to your customers?

René Lacerte:  We think of ourselves as champions for small and medium-sized businesses to help them automate the financial processes that around paying and getting paid. If you think about payables and receivables, people do not expect this number to be true but it is. Ninety percent of businesses still rely on paper to manage their processes and make their payments. If paper is a primary form of making the payment, it ends up being fairly inefficient, error-prone, and lots of challenges. It ends up being a mess. For us, I wanted to focus on solving that mess. I wanted to take care of that pain point and really make a difference for a small and mid-sized businesses. There are six million employers in the U.S. – that is the target market. We have 98,000 businesses today that are on our platform. They use us to interact with two and a half million network members



a man holding a sign: A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company's IPO in New York City


© Reuters/Brendan McDermid
A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company’s IPO in New York City


(Reuters) – Cloud communications platform provider Twilio Inc plans to buy customer data infrastructure company Segment for $3.2 billion, Forbes reported on Friday.

The deal, which had not been finalized as of Friday afternoon, was expected to be at least partially based on Twilio stock, the report added, citing two sources it did not name.

San Francisco-based Segment has recently been open to acquisition offers, according to the report.

Twilio declined to comment to Reuters. Segment was not immediately available for comment outside regular business hours.

Segment raised $175 million in a Series D funding round in April 2019. The startup said in September that it worked with more than 20,000 businesses including Intuit, FOX and Levi’s, employing more than 550 people.

Cloud companies have seen a surge in demand this year as more businesses use their services to meet the demands of the switch to work from home due to the coronavirus outbreak.

“Twilio is a beneficiary of pandemic-catalyzed digital transformation acceleration,” brokerage JP Morgan said in a note this month.

Last week, Twilio estimated third-quarter sales above its previous forecast, as the switch to remote working and learning boosted demand for cloud services.

(Reporting by Juby Babu and Kanishka Singh; Editing by William Mallard)

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a man looking at the camera: Reuters


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Reuters

  • IBM surged on Thursday after it announced plans to spin off its legacy managed-infrastructure business so it can focus on building up its cloud division.
  • The spinoff is expected to be tax-free for IBM shareholders and be completed by the end of 2021, the company said.
  • CEO Arvind Krishna said the spinoff would allow IBM to be “laser-focused on the $1 trillion hybrid cloud opportunity.”
  • IBM also released preliminary third-quarter earnings results.
  • Visit Business Insider’s homepage for more stories.

IBM is shedding its legacy business to focus on growing its cloud unit, it said on Thursday.

IBM said it would spin off its managed-infrastructure business as a new publicly traded company in a tax-free deal for IBM shareholders. The spinoff is expected to be completed by the end of 2021, it said.

CEO Arvind Krishna said that spinning off the company’s legacy networking business would allow it to be “laser-focused on the $1 trillion hybrid cloud opportunity.”

The deal follows IBM’s acquisition of RedHat for $34 billion in 2019 to bolster its cloud offering.

“Now is the right time to create two market-leading companies focused on what they do best,” Krishna said.

Video: IBM CEO and executive chair on spinning off IT infrastructure unit (CNBC)

IBM CEO and executive chair on spinning off IT infrastructure unit

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IBM said that as it focuses on growing its cloud business, it will have “an enhanced financial profile with a clear trajectory for improved revenue and profit growth.”

News of the spinoff was well received by investors, with shares of IBM surging as much

FILE PHOTO: A man stands near an IBM logo at the Mobile World Congress in Barcelona, Spain, February 25, 2019.    REUTERS/Sergio Perez
FILE PHOTO: Man stands near an IBM logo at the Mobile World Congress in Barcelona


  • IBM surged on Thursday after it announced plans to spin off its legacy managed infrastructure business so it can solely focus on building up its cloud division.
  • The spinoff is expected to be tax-free for IBM shareholders and will be completed by the end of 2021, the company said.
  • “IBM is laser-focused on the $1 trillion hybrid cloud opportunity,” IBM CEO Arvind Krishna said.
  • IBM also released preliminary third quarter earnings results.
  • Visit Business Insider’s homepage for more stories.

IBM is shedding its legacy business to focus on growing its cloud unit, according to a release on Thursday.

IBM will spin off its managed infrastructure business as a new publicly traded company in a tax-free deal for IBM shareholders. The spinoff is expected to be completed by the end of 2021.

The spinoff of IBM’s legacy networking business will allow the company to become “laser-focused” on the $1 trillion hybrid cloud opportunity, IBM CEO Arvind Krishna said.

The deal follows IBM’s continued transition to the cloud business, which was heightened in 2019 after it acquired RedHat for $34 billion to help bolster its cloud offering.

“Now is the right time to create two market-leading companies focused on what they do best,” Krishna explained.

Read More: A $2.5 billion investment chief highlights the stock-market sectors poised to benefit the most if stimulus is passed after the election – and says Trump ending negotiations doesn’t threaten the economic recovery

With IBM able to focus on growing its cloud business, the company said it will have “an enhanced financial profile with a clear trajectory for improved revenue and profit growth,” the company said.

News of the IBM development was well received by investors, with shares

TEL AVIV, Israel, Oct. 5, 2020 /PRNewswire/ — In the modern-day, all a company’s most vital information is stored digitally. No longer is keeping it safe as simple as locking a filing cabinet. Cyberattacks are an increasing danger for companies. In 2020, there have been nearly 16 billion records exposed, a worrying 273 percent rise compared with the beginning of 2019. Most prominently was the Twitter hack in July, where 45 notable individuals were hacked in a Bitcoin scam.

These attacks are growing in their sophistication. As such, companies need to evolve their security to protect their data from cybercriminal activities. Staying ahead of the curve is a priority. The holy grail of cybercrime is personally identifiable information, which can be sold off or ransomed for large amounts of money. Companies worldwide are legally obliged to follow GDPR compliance, under EU law, protecting such data from potential breaches, and conforming to the highest security standards.

However, the question is: how do companies secure their data from attacks? Encryption is one of the most secure methods of personally identifiable information (PPI) protection. By using encryption, a company’s valuable data will be protected from theft, as hackers have no means of decryption. Thereby, significantly reducing the impact of cyberattacks.

Yet, encryption is complicated when dealing with the management of private keys. That’s why we developed AnonyFlow (anonyflow.com). AnonyFlow uses encryption-based anonymization to protect part of the data. The rest will be left untouched. You decide which data you want to protect. Instead of going through the tedious process of secret key management, we handle everything for you.

Through the API, information can be deanonymized whenever you need access. Data can also be shared safely and securely with colleagues or third parties. Plus, we always have a customer support team on hand