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Tuesday, March 14, 2017

Yext and Okta file to go public. It's The Daily Crunch.

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THE DAILY CRUNCH
TUESDAY, MARCH 14 2017 By Anthony Ha

Two enterprise tech companies filed to go public yesterday, which could be good news for other software-as-a-service companies, not to mention the New York tech scene. Also, New York City is suing Verizon, a.k.a. the company that owns TechCrunch. That and more in The Daily Crunch for March 14, 2017.

1. New York-based Yext files for IPO

Yext, a company that powers location data in search results, social media and maps, has filed for an initial public offering. The offering is currently set to raise $100 million, but that number is subject to change.

Founded in 2006 and led by Howard Lerman, Yext has clients like Best Buy, McDonald's and Marriott. It's been rumored to go public for several years now. The company previously raised more than $117 million in venture funding at more than a $500 million valuation.

2. Okta IPO filing marks public market tipping point for SaaS Vendors

Identity management software provider Okta also filed its S-1 paperwork yesterday, making it the latest pure cloud, subscription-based company to go public. Frank Dickson, an analyst for IDC, told us that Wall Street will like Okta's eye-popping growth numbers.

3. New York City sues Verizon for not completing citywide fiber network

New York City has slapped Verizon with a lawsuit that claims the telecommunications conglomerate (which owns TechCrunch) broke a 2008 contract to provide citywide fiber coverage, depriving residents of competitively priced options for better television and internet service. Verizon defended itself, saying that the city's interpretation of their agreement is impractical.

4. Facebook, Twitter still failing on hate speech in Germany as new law proposed

Facebook and Twitter have once again been criticized in Germany for failing to promptly remove hate speech being spread through their platforms. The German government also has presented a draft bill aimed at more effectively combating hate criminality and criminal offenses on social network platforms.

5. Spotify and Waze partner to play music and navigate seamlessly

A new partnership between Spotify and Waze should make the experience of driving and listening to music more seamless. The two have teamed up so that users of the Waze app can listen to Spotify playlists from within the navigation app, while Spotify users can continue to get their Waze instructions while in the music app.

6. Jigsaw and The Washington Post try to explain tech jargon with their new Sideways Dictionary

Alphabet's tech incubator Jigsaw and The Washington Post are launching a new product called the Sideways Dictionary, which explains tech terminology and concepts through analogies — for example, BitCoin is "like digital gold," while a zero-day vulnerability is "like medics discovering a new virus." You can even contribute analogies yourself.

Get more stories at techcrunch.com 

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