German software giant SAP plans to lay off 3,000 employees this year—roughly 2.5% of its global workforce—and is also looking to sell its 71% stake in Qualtrics, the provider of customer and employee feedback analysis software it acquired in 2018 and spun off two years later, CEO Christian Klein said on an earnings call. SAP’s job cuts are the latest sign of the ripple effect affecting...
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The Briefing markets startups
Forget the IPO Window. Watch for More M&A
Here’s some food for thought about initial public offerings. Yesterday I asked Brex co-CEO Henrique Dubugras when he thought the IPO window would open. His fintech company, after all, is one of many that could be beating down that door. Having raised $1.5 billion in funding, Dubugras said the company has a plan to break even off its existing funding. When I ask the IPO question, I usually...
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