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SAP CEO Bill McDermott to step down, pre-announces earnings

Bill McDermott Anjali Sundaram | CNBC SAP said on Thursday that Bill McDermott is stepping down as CEO after more than nine years running the German software company. Board members Jennifer Morgan and Christian Klein have been appointed co-CEOs effective immediately, SAP said in a statement. McDermott, 58, will stay …

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Bill Gurley’s plan to move from tech IPOs to direct listings

Bill Gurley, general partner of Benchmark Capital Holdings Co. Patrick T. Fallon | Bloomberg | Getty Images Two years after ending a tumultuous run on the Uber board, Bill Gurley is now on a very different crusade. Ever since an appearance on CNBC last month in which he described the …

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Most Netflix subscribers won’t leave for Disney or Apple, survey finds

stockcam | iStock Unreleased | Getty Images Netflix shares cratered over the past three months, as concerns about slowing subscriber growth have combined with investors fearing the risks of new streaming competition from both technology and media giants. But Piper Jaffray remains unfazed, sticking by its optimistic forecast for Netflix’ …

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New IPOs face ‘reckoning’ over lofty private valuations

Lyft President John Zimmer and CEO Logan Green applaud as Lyft lists on the Nasdaq at an IPO event in Los Angeles March 29, 2019. Mike Blake | Reuters As 2019’s IPO class faces a reckoning on the public markets, there are now even more questions about why the private …

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Valued between consumer hardware and platform companies

Peloton executives celebrate at the Nasdaq MarketSite before the opening bell and his company’s IPO, Thursday, Sept. 26, 2019 in New York. Source: Nasdaq Peloton hit the market on Thursday amid a wave of investor skepticism, following the disappointing debuts of Lyft and Uber earlier this year and the WeWork …

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SoftBank has a multi-million-dollar protection in WeWork’s IPO

Investors like SoftBank have an obscure protection that will grant them hundreds of millions in shares if WeWork’s IPO value is lower than they bought in at in the private market. The fine print is known as a ratchet, and speaks to the opaque nature of private markets and sky-high …

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Datadog is fourth software IPO in 2019 to reach $10 billion market cap

Celebration at the Nasdaq during the Datadog IPO, September 19, 2019. Source: Nasdaq Other years have had more tech IPOs than 2019, but there’s never been a year that’s minted so many big ones. After Datadog’s first-day pop on Thursday, the provider of analytics and monitoring tools became the fourth …

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Roku stock price volatility: why?

Anthony Wood Stephen Desaulniers | CNBC Twice in the past eight trading days, Roku has dropped more than 10% for reasons having nothing to do with what’s happening inside the company. That sounds disastrous until you consider that the stock is still up almost 340% this year, topping the best-performing …

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Datadog pops 50% in Nasdaq debut as cloud software IPOs stay hot

Olivier Pomel Source: CNBC Datadog, a cloud software company that sells analytics and monitoring tools, surged 50% in its stock market debut on Thursday, becoming the latest subscription software company to be met with enthusiasm by public market investors. Trading on the Nasdaq under the ticker symbol “DDOG,” the stock climbed …

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Amazon Music HD promises high-quality music; difference hard to hear

A child listening to music on headphones. KidStock | Blend Images | Getty Images Amazon on Tuesday introduced CD-quality 24-bit “Ultra HD” music to Amazon Music. It’s $12.99 a month if you pay for Amazon Prime, or $14.99 a month if you don’t. In theory, it should sound better than …

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