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One of the recent investment <keyword id="6390344" type="CITY" weightage="20" keywordseo="Cisco">Cisco</keyword> has done is a $3.7 billion deal with a startup called <keyword id="4102659" type="UNKNOWN" weightage="20" keywordseo="appdynamics-inc">AppDynamics Inc</keyword> - a US-based application performance management and IT operations analytics company. 
 
AppDynamics helps large enterprises translate vast amounts of complex, weave data into business insights and empower them to drive value for their customers. This is Cisco’s largest acquisition since it acquired security firm Sourcefire for $2.7 billion in 2013. 
 The US company has also been making venture-style <keyword id="6362476" type="ORGANIZATION" weightage="20" keywordseo="investments">investments</keyword> in India. Until last year, Cisco had invested in about 25 companies in India. 
 
In March 2016, Cisco said it would invest $100 million to fund startups and train 2.5 lakh students in India by 2020. 
 
The company, which has over 10,000 employees in India, is looking at funding early- and growth-stage companies in the country across areas such as Internet of Things and smart cities. 
 In November last year, <keyword id="2221884" type="UNKNOWN" weightage="20" keywordseo="Cisco-Investments">Cisco Investments</keyword> joined the Series B funding round of Pune- and San Francisco-based mobile customer relationship management firm Helpshift Inc. 
 In October 2015, Cisco took over Bangalore-based IT security firm <keyword id="4123622" type="UNKNOWN" weightage="20" keywordseo="pawaa-software-pvt-ltd">Pawaa Software Pvt Ltd</keyword>. for an undisclosed amount, making its first acquisition in India.

Cisco is making big bets in Indian firms

<ul><li>The Chennai-based <keyword id="4621694" type="PERSON" weightage="20" keywordseo="Freshworks">Freshworks</keyword> has raised $100 million in a funding round led by Sequoia Capital, Accel Partners and CapitalG, giving it a $1.5 <keyword id="55426" type="COMPANY" weightage="20" keywordseo="billion">billion</keyword> valuation. </li><li>It has become the fifth Indian <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> of 2018 along with Byju, Paytm Mall, Swiggy and PolicyBazaar. </li><li>Freshworks will use the latest investment to expand its platform, add clients in new markets and integrate AI into its core service offering.</li></ul> After Byju, Paytm Mall, Swiggy and PolicyBazaar, India now has a fifth addition to a rarified group of startups with $1 billion valuations this year. Chennai-based Freshworks, a software as a service (<keyword id="6395918" type="UNKNOWN" weightage="20" keywordseo="SAAS">SaaS</keyword>) provider, has raised $100 million in a funding round led by Sequoia Capital, Accel Partners and CapitalG, which has given it a valuation of $1.5 billion. <div type="javascript" title="Custom"><cdata><![CDATA[
 
]]></cdata></div>

 Freshworks commenced operations in 2010 as a customer support company - Freshdesk - before rebranding itself and branching out into software services. It currently offers businesses a variety of services, ranging from IT systems, sales management software and customer service. It competes with the likes of Zendesk and Salesforce and has over 150,000 clients across the world including Cisco, Toshiba, Honda, Bridgestone and the University of Pennsylvania. The company has raised $250 million to date. Its last major capital infusion came in 2016, wherein Sequoia led a $55 million funding round to give it a valuation of $700 million. It recently reached around $100 million in annual recurring revenues. Freshworks will use the latest investment to expand its platform, add clients in new markets in the Asia-Pacific, Middle East and Africa and integrate artificial intelligence into its core service offering. GIven the company’s plans of an initial public offering in the near future, this is likely the last time it will take the private funding route before going public. To this effect, Freshworks also announced the appointment of Suresh Seshadri, the former VP of finance at AppDynamics, as its new chief financial officer. Seshadri was instrumental in taking AppDynamics, a San Francisco-based IT analytics company, public last year.

Freshworks just became India’s fifth entrant to the unicorn club this year

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Getty ImagesMark Zuckerberg.</div></div></div>Good morning. Here's everything you need to know in the world of <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> today.1. <a href="http://www.businessinsider.com/ad-agencies-paying-settlements-contracts-2017-1">Ad agencies are paying secret settlements to their clients to avoid showing them all their contracts</a> The settlements, which have ranged from the single digit millions up to a value of more than $10 million, are being paid by US agencies to avoid being fully audited by their clients.2. <a href="http://www.businessinsider.com/dcn-report-shows-publisher-revenue-from-google-facebook-snapchat-2017-1">Premium publishers made only $7.7 million on average from distributed content in the first half of 2016</a>. A report by the publishing trade body DCN surveyed 19 of its members - including The New York Times, Bloomberg, and the Financial Times - and found that publishing on social platforms only made up an average of 14% of their revenue.3. <a href="http://www.businessinsider.com/time-inc-acquires-adelphi-to-create-direct-marketing-platform-compete-google-facebook-2017-1">Time Inc's Viant acquired ad tech startup Adelphic</a>. The publisher is looking to create a self service advertising platform.4. <a href="http://www.businessinsider.com/ad-tech-company-adform-is-laying-off-8-percent-of-its-staff-2017-1">Adform is cutting 8% of its global workforce</a>. The cuts will take place in 15 markets around the world and the company will centralize more of its activity in Lithuania.5. <a href="http://www.businessinsider.com/trends-tv-shows-industry-2017-1">These are the trends that are shaking up the TV industry</a>. Executives from the industry finished up the Television Critics Association press tour - and these are the themes that emerged.6. <a href="http://www.businessinsider.com/yahoo-hack-had-minimal-impact-on-user-engagement-2017-1">The Yahoo hack only had a small impact on traffic</a>. It's good news for investors waiting on Verizon to complete its $4.8 billion acquisition of the company.7. <a href="http://www.businessinsider.com/cisco-buying-appdynamics-ipo-cancelled-2017-1">Cisco acquired the app analytics company AppDynamics for $3.7 billion</a>. AppDynamics was set to be the first big tech IPO of 2017.8. <a href="http://www.cnbc.com/2017/01/24/mark-zuckerberg-says-hes-not-running-for-president.html">Mark Zuckerberg says he's not running for president.</a> The Facebook CEO told BuzzFeed News he's focused on Facebook and the Chan Zuckerberg Initiative.9. <a href="http://www.businessinsider.com/apple-opens-siri-to-third-party-developers-on-apple-watch-2017-1">Apple Siri is getting ready to take on Amazon's Alexa in a big way</a>. The latest version of WatchOS allows third party Apple Watch apps to use Siri.10. <a href="http://adage.com/article/digital/snapchat-lets-advertisers-buy-ads-based-nielsen-ratings/307675/">Snapchat is offering to bill brands the same way as TV</a>. The media app is taking on TV by letting brands pay for ad campaigns using Nielsen's digital ratings, AdAge reports. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/wwe-chief-marketing-revenue-officer-michelle-wilson-ces-interview-2017-1">WWE's marketing and revenue boss says its content output has doubled in the last 5 years, all thanks to digital</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="A5cGMxOTE6oUhPOPDBPRWLoCAT8iKGn4" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The 10 things in advertising you need to know today

CiscoCisco CEO Chuck RobbinsCisco just reported its third-quarter, FY2017 earnings.It reported: $11.9 billion in revenue. Analysts expected $11.89 billion, so that's a small beat.EPS of $0.60, excluding extraordinary items. Analysts expected $0.58, so that's a beat.This was its sixth consecutive quarterly decline in revenues, though only by a hair. In its third quarter a year ago, Cisco posted $12 billion in revenues.Still, the stock is down about 5% in after-hours trading. Despite that expectation, <a href="http://www.businessinsider.com/cisco-naysayer-reverses-course-rates-stock-a-buy-2017-4">Wall Street has generally been pleased with Cisco's direction of late.</a> Under CEO Chuck Robbins, Cisco has been spending big bucks on acquisitions to expand into growing markets, offsetting the declines in some of its bread-and-butter networking equipment business. Robbins is particularly focused on remaking the company into a software business with recurring revenues from lots of products in lots of markets other than networking.More to come.Here's <a href="http://investor.cisco.com/investor-relations/news-and-events/news/news-details/2017/Cisco-Reports-Third-Quarter-Earnings/default.aspx">the press release.</a>Cisco Reports Third Quarter EarningsSAN JOSE, CA -- (Marketwired) -- 05/17/17 -- Cisco (NASDAQ: CSCO)<ul><li>Q3 Revenue: $11.9 billion -- Decrease of (1)% year over year -- Recurring revenue was 31% of total revenue, up 2 pts year over year</li><li>Q3 Earnings per Share: $0.50 GAAP; $0.60 non-GAAP</li><li>Q4 FY2017 Outlook: -- Revenue: (6)% to (4)% decline year over year -- Earnings per Share: GAAP $0.46 to $0.51; Non-GAAP: $0.60 to $0.62</li></ul>Cisco (NASDAQ: CSCO) today reported third quarter results for the period ended April 29, 2017. Cisco reported third quarter revenue of $11.9 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.5 billion or $0.50 per share, and non-GAAP net income of $3.0 billion or $0.60 per share."I am pleased with the progress we are making on the multi-year transformation of our business," said Chuck Robbins, CEO, Cisco. "The Network is becoming even more critical to business success as our customers add billions of new connections to their enterprises. We are laser focused on delivering unparalleled value through highly secure, software-defined, automated and intelligent infrastructure."<table><tbody><tr><td colspan="14"> </td></tr><tr><td colspan="14">GAAP Results</td></tr><tr><td colspan="14"> </td></tr><tr><td> </td><td> </td><td colspan="4">Q3 FY2017</td><td> </td><td colspan="4">Q3 FY2016</td><td> </td><td colspan="2">Vs. Q3 FY2016</td></tr><tr><td>Revenue</td><td> </td><td>$</td><td>11.9</td><td> </td><td>billion</td><td> </td><td>$</td><td>12.0</td><td> </td><td>billion</td><td> </td><td>(1</td><td>)%</td></tr><tr><td>Net Income</td><td> </td><td>$</td><td>2.5</td><td> </td><td>billion</td><td> </td><td>$</td><td>2.3</td><td> </td><td>billion</td><td> </td><td>7</td><td>%</td></tr><tr><td>Diluted Earnings per Share (EPS)</td><td> </td><td>$</td><td>0.50</td><td> </td><td> </td><td> </td><td>$</td><td>0.46</td><td> </td><td> </td><td> </td><td>9</td><td>%</td></tr><tr><td colspan="14"> </td></tr><tr><td colspan="14">Non-GAAP Results</td></tr><tr><td colspan="14"> </td></tr><tr><td> </td><td> </td><td colspan="4">Q3 FY2017</td><td> </td><td colspan="4">Q3 FY2016</td><td> </td><td colspan="2">Vs. Q3 FY2016</td></tr><tr><td>Net Income</td><td> </td><td>$</td><td>3.0</td><td> </td><td>billion</td><td> </td><td>$</td><td>2.9</td><td> </td><td>billion</td><td> </td><td>5</td><td>%</td></tr><tr><td>EPS</td><td> </td><td>$</td><td>0.60</td><td> </td><td> </td><td> </td><td>$</td><td>0.57</td><td> </td><td> </td><td> </td><td>5</td><td>%</td></tr><tr><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr></tbody></table>The third quarter of fiscal 2017 had 13 weeks compared with 14 weeks in the third quarter of fiscal 2016.Reconciliations between net income, EPS and other measures on a GAAP and non-GAAP basis are provided in the tables located in the section entitled "Reconciliations of GAAP to non-GAAP Measures.""We executed well in Q3, delivering $11.9 billion in total revenue, while driving solid profitability and cash generation as we deliver on our strategic priorities," said Kelly Kramer, CFO, Cisco. "We will continue to invest in growth areas as we move the business toward more software and recurring revenue and return value to shareholders."Financial SummaryAll comparative percentages are on a year-over-year basis unless otherwise noted.Q3 FY 2017 HighlightsRevenue -- Total revenue was $11.9 billion, down 1%, with product revenue flat and service revenue down 2%. 31% of total revenue was from recurring offers, up from 29% for the third quarter of fiscal 2016. Revenue by geographic segment was: Americas flat, EMEA flat, and APJC down 2%. Product revenue performance was led by Wireless and Security, which increased by 13% and 9%, respectively. Switching revenue increased by 2%. NGN Routing, Collaboration, Data Center, and Service Provider Video revenue decreased by 2%, 4%, 5%, and 30%, respectively.Gross Margin -- On a GAAP basis, total gross margin and product gross margin were 63.0% and 61.7%, respectively. The decrease in the product gross margin compared with 63.8% in the third quarter of fiscal 2016 was primarily due to pricing, a supplier component remediation adjustment in the third quarter of fiscal 2016, and product mix, partially offset by continued productivity improvements.Non-GAAP total gross margin and product gross margin were 64.4% and 63.2%, respectively. The decrease in non-GAAP product gross margin compared with 64.5% in the third quarter of fiscal 2016 was primarily due to pricing and product mix, partially offset by continued productivity improvements.GAAP service gross margin was 66.7% and non-GAAP service gross margin was 67.8%.Total gross margins by geographic segment were: 64.6% for the Americas, 65.5% for EMEA and 61.8% for APJC.Operating Expenses -- On a GAAP basis, operating expenses were $4.3 billion, down 8%. Non-GAAP operating expenses were $3.8 billion, down 9%, and were 32.1% of revenue.Operating Income -- GAAP operating income was $3.2 billion, up 6%, with GAAP operating margin of 26.5%. Non-GAAP operating income was $3.9 billion, up 7%, with non-GAAP operating margin at 32.3%.Provision for Income Taxes -- The GAAP tax provision rate was 21.2%. The non-GAAP tax provision rate was 22.0%.Net Income and EPS -- On a GAAP basis, net income was $2.5 billion and EPS was $0.50. On a non-GAAP basis, net income was $3.0 billion, an increase of 5%, and EPS was $0.60, an increase of 5%.Cash Flow from Operating Activities -- was $3.4 billion, an increase of 10% compared with $3.1 billion for the third quarter of fiscal 2016.Balance Sheet and Other Financial HighlightsCash and Cash Equivalents and Investments -- were $68.0 billion at the end of the third quarter of fiscal 2017, compared with $71.8 billion at the end of the second quarter of fiscal 2017, and compared with $65.8 billion at the end of fiscal 2016. The total cash and cash equivalents and investments available in the United States at the end of the third quarter of fiscal 2017 were $2.9 billion.Deferred Revenue -- was $17.3 billion, up 13% in total, with deferred product revenue up 26%, driven largely by subscription-based and software offerings. Deferred service revenue was up 7%. The portion of product deferred revenue related to recurring software and subscription businesses grew 57% which includes the acquisition during the third quarter of fiscal 2017 of AppDynamics. Excluding AppDynamics, the increase was 51%.Capital Allocation -- In the third quarter of fiscal 2017, Cisco declared and paid a cash dividend of $0.29 per common share, or $1.5 billion. For the third quarter of fiscal 2017, Cisco repurchased approximately 15 million shares of common stock under its stock repurchase program at an average price of $33.71 per share for an aggregate purchase price of $0.5 billion.As of April 29, 2017, Cisco had repurchased and retired 4.7 billion shares of Cisco common stock at an average price of $21.21 per share for an aggregate purchase price of approximately $99.1 billion since the inception of the stock repurchase program. The remaining authorized amount for stock repurchases under this program is approximately $12.9 billion with no termination date.AcquisitionsIn the third quarter of fiscal 2017, Cisco completed its acquisition of AppDynamics, Inc. The AppDynamics acquisition provides cloud application and business monitoring platforms that are designed to enable companies to improve application and business performance.On May 1, 2017, Cisco announced its intent to acquire Viptela, Inc., a privately held software-defined wide area network company. The acquisition is expected to close in the second half of calendar 2017.On May 4, 2017, Cisco announced its intent to acquire the Advanced Analytics team and associated advanced analytics intellectual property developed by Saggezza, a privately held technology services company. The acquisition is expected to close in the fourth quarter of fiscal 2017.On May 11, 2017, Cisco announced its intent to acquire MindMeld, Inc., a privately held artificial intelligence (AI) company. The acquisition is expected to close in the fourth quarter of fiscal 2017.Business Outlook for Q4 FY 2017Cisco expects to achieve the following results for the fourth quarter of fiscal 2017:<table><tbody><tr><td> </td><td> </td><td> </td></tr><tr><td>Q4 FY 2017</td><td> </td><td> </td></tr><tr><td>Revenue</td><td> </td><td>(6)% to (4)% decline Y/Y</td></tr><tr><td>Non-GAAP gross margin rate</td><td> </td><td>63% - 64%</td></tr><tr><td>Non-GAAP operating margin rate</td><td> </td><td>29.5% - 30.5%</td></tr><tr><td>Non-GAAP tax provision rate</td><td> </td><td>22%</td></tr><tr><td>Non-GAAP EPS</td><td> </td><td>$0.60 - $0.62</td></tr><tr><td> </td><td> </td><td> </td></tr></tbody></table>Cisco estimates that GAAP EPS will be $0.46 to $0.51 which is lower than non-GAAP EPS by $0.11 to $0.14 per share in the fourth quarter of fiscal 2017.A reconciliation between the Business Outlook for Q4 FY 2017 on a GAAP and non-GAAP basis is provided in the table entitled "GAAP to non-GAAP Business Outlook for Q4 FY 2017" located in the section entitled "Reconciliations of GAAP to non-GAAP Measures." Get the latest Cisco stock price<a href="http://markets.businessinsider.com/stock/csco-Quote"> here.</a> <h3>NOW WATCH: <a href="http://www.businessinsider.com/marines-corps-machine-gun-wielding-robot-controlled-by-tablet-2017-4">The Marine Corps is testing a machine gun-wielding robot controlled with just a tablet and a joystick</a></h3> Please enable Javascript to watch this video

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Cisco is making big bets in Indian firms

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Freshworks just became India’s fifth entrant to the unicorn club this year

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The 10 things in advertising you need to know today

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