Weekly Roundup 7.27 – 7.31

News | July 31st, 2020

👤💰 SAP will spin off Qualtrics and take it public less than two years after acquiring the company for $8 billion in cash. Qualtrics helps companies get feedback from employees and customers. Link to article Source: The Salt Lake Tribune, The Associated Press, 2020 

📱💳 JPMorgan Chase has partnered with fintech start-up Marqeta to implement a line of virtual credit cards. Marqeta’s technology is similar to DoorDash or Instacart, which also utilize virtual credit cards. Link to article Source: CNBC, Rooney, 2020  

💻🛍 Google announced that sellers who utilize the “Buy” on Google Checkout won’t be required to pay a commission fee to compete with Amazon. Google hopes this will serve as a catalyst for brands to sell on Google directly, as opposed to Amazon and Shopify. Link to article Source: Business Insider, Carnahan, 2020 

 📱🔓 A security breach left details of 7.5 million users on the digital banking app and tech unicorn Dave vulnerable on a public forum. Dave quickly launched an investigation into the attack and plugged the hacker’s point of entry. Link to article Source: ZDNet, Cimpanu, 2020 

 💻🏥 Online health start-up Ro is now valued at $1.5 billion after closing a new round of funding of $200 million. The company is generating $250 million in annual revenue while facilitating 5 million patient-doctor interactions. Link to article Source: CNBC, Farr, 2020 

 👤📈 The North American Human Capital Management market is forecast to grow at a 10.5% CAGR over the next five years, reaching an estimated $10.2 billion by 2025. Growth is driven by increased demand for HCM solutions. Link to article Source: MenaFN, 2020 

 💻📉 Certain sectors of the Fintech market have suffered as COVID-19 rages. Fintech funding is down 41% on the year, with firms only raising $6.3 billion in the second quarter. Link to article Source: Insurance Journal, Withers, Irrera, Wilson, 2020 

 📱🛒 Cross-border eCommerce sales have surged by 21% from January to June compared to the same time last year, as consumers are showing a greater willingness to shop outside of their home country. Data was reported from users across 185 countries. Link to article Source: Digital Commerce, Evans, 2020 

 📱💳 TransferWise, a money transfer firm, reached a valuation of $5 billion, making it one of Europe’s most valuable start-ups. The fintech unicorn serves 8 million customers while processing a staggering $5.2 million in cross-border payments monthly. Link to article Source: CNBC, Browne, 2020 

 📱🔒 The CEO’s of tech giants AppleGoogleFacebook, and Amazon were questioned over a five hour congressional hearing regarding the power of their companies and potential security risks synonymous with this power. Business Insider looks at some of the biggest takeaways. Link to article Source: Business Insider, Hamilton, 2020