Business Cloud News

Bitreserve re-launches as cloud based financial service hub Uphold

Money cloud

Cloud based financial exchange Uphold, formerly Bitreserve, has redesigned its functions, products and services for a relaunch.

Twitter builds commerce model with CardSpring buy

CardSpring specialises in delivering payment APIs through via the cloud

Social network Twitter has acquired payments infrastructure firm CardSpring for an undisclosed sum. The San Francisco-based startup develops a web service API that makes it easy for payment companies and point-of-sale vendors to work with developers to create card-linked services.

Red Hat results show OpenStack, OpenShift interest high, commercialisation low

Red Hat reported a better-than-expect Q4 2013 last week, and is looking to target OpenStack and OpenShift commercialisation strongly this year

With $400m in quarterly revenue and 15 per cent year on year growth Red Hat reported a better-than-expected fourth quarter at the end of last week. Red Hat president and chief executive officer said that despite a solid quarter and a high level of interest in its emerging technology investments, OpenStack and OpenShift, commercialisation is still low.

Cisco to pour $1bn into cloud as hardware revenues decline

Cisco said it will spend $1bn on developing its cloud services portfolio over the next two years as it moves to rebalance its hardware-focused products and service offerings

In a bid to shift its business towards selling more cloud-based software Cisco is ramping up investment in cloud services, pouring up to $1bn into products and services in the sector over the next two years according to the Wall Street Journal.

Gigas raises $2.7m to unseat incumbents in LatAm

Gigas announced Friday that the company has raised $2.7m, with which it will attempt to unseat incumbent providers

Small but fast growing Spanish infrastructure as a service provider Gigas announced Friday that the company has raised $2.7m in its latest round of funding. The company said it will use the money for growth initiatives in Latin America as it seeks to unseat existing cloud incumbents.

Resource Guru scores $870K to make cloud-based scheduling platform agnostic

Resource Guru scored $870,000 in new funding from new and existing investors

Cloud-based scheduling app company Resource Guru said Monday that it has closed $870,000 in new funding. The company’s co-founder Andrew Rogoff told Business Cloud News he expects to accelerate product development, hiring and marketing efforts in a bid to acquire more customers and make scheduling more seamless across multiple platforms.

Rackspace Q3 sees mix of sun and cloud

Rackspace's Q3 results were mixed, beating analysts expectations on revenue but falling short on profit

Hosting and cloud services provider Rackspace reported mixed Q3 results Monday evening. The company brought in revenues of $388.6 million in the quarter ending September 30, slightly surpassing analyst estimates of $387.4 million. But Rackspace’s Q3 profit, 4.2 per cent, was down from previous quarters.

Cloud-based wallet targets US market

Zenius Solutions has launched a cloud based mobile wallet

A cloud based mobile wallet has been launched by Silicon Valley start-up in a bid to ignite take up of mobile money services. Zenius Solutions has launched a mobile commerce solution, compatible with iOS and Android products, that uses secure cloud-based tokens to authenticate transactions.

The need for speed

Milliseconds can mean millions of dollars in the hyper-competitive world of high-frequency financial trading. Trading institutions are driving demand for ever faster throughput speeds in communication networks that span the globe.

Telefonica drives innovation through partnerships

Speaking at an event in London on Thursday, Matthew Key, head of Telefónica Digital since its inception nine months ago, said his unit expects to drive annual revenues of approximately €5bn by 2015 with an annual revenue growth rate of 20 per cent.