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<ul class="summary-list"><li><strong><keyword id="2436665" type="PERSON" weightage="60" keywordseo="Nutanix">Nutanix</keyword> shares jumped nearly 30% on Friday after the <keyword id="49933" type="PERSON" weightage="60" keywordseo="Cloud">cloud</keyword> software giant announced a $750 million investment from Bain Capital to "support the company's growth initiatives."</strong></li><li><strong>Nutanix CEO and co-founder Dheeraj Pandey also announced that he will retire as soon as his successor is named.</strong></li><li><strong>"There is no better time for me to make this transition to a new leader who can guide Nutanix through its next decade of growth and success," Pandey said in a statement.</strong></li></ul><p>Nutanix shares soared nearly 30% on Friday after the cloud infrastructure company company posted upbeat results and announced a $750 million investment from Bain Capital.</p><p>The <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="enterprise">enterprise</keyword> software giant, currentl valued at some $5.6 billion, also announced that CEO and co-founder <a href="https://www.businessinsider.com/nutanix-ceo-coronavirus-great-recession-downturn-2020-3">Dheeraj Pandey</a> is retiring after leading the company since its 2009 launch.</p><p>"There is no better time for me to make this transition to a new leader who can guide Nutanix through its next decade of growth and success," Pandey said in a statement.</p><p>Nutanix posted a narrower fiscal fourth quarter loss of $185.3 million, and said its revenue rose 9% year-over-year to $328 million, results that beat Wall Street estimates. Investors also cheered the Bain Capital investment.</p><p>"Investors will breathe a big sigh of relief from both the solid quarterly results and the influx of cash that should assuage liquidity concerns," William Blair analyst Jason Ader told clients in a note.</p><p>Nutanix emerged as a major player in enterprise tech by providing software that makes it easier for businesses to manage their networks in the cloud and in private data centers. </p><p>But the company has taken a hit from the coronavirus crisis and stiffer competition from VMware, the Dell-owned cloud software giant.</p><p>IDC President Crawford Del Prete said Nutanix's solid quarter and news of the Bain Capital investment "was a good time to announce the change."</p><p>"It's the start of a new chapter for the company," he told Business Insider. "They need to more effectively compete against VMware, and Bain will give them more financial options. This probably also requires new executive leadership to guide the company through its next phase, which could mean M &amp; A or new partnerships."</p><p>Ader of William Blair praised Pandey for "building and evolving Nutanix into a market leader and billion-dollar-plus company."</p><p>But he also wrote: "We think the time feels right for a leadership change, especially as the company enters its second decade."</p><p><em>Got a tip about Nutanix or another tech company? Contact this reporter via email at </em><em>bpimentel@businessinsider.com</em><em>, message him on Twitter </em><a href="https://twitter.com/benpimentel"><em>@benpimentel</em></a> <em>or send him a secure message through Signal at (510) 731-8429. </em><em>You can also </em><a href="https://www.businessinsider.com/how-to-tip-business-insider-securely-guide-signal-securedrop-2017-6"><em>contact Business Insider securely via SecureDrop</em></a><em>.</em></p><p><em>Claim your 20% discount on an annual subscription to BI Prime by </em><a href="https://www.businessinsider.com/subscription/prime-discount?r=birefer-mweinberger"><em>clicking here</em></a><em>. </em></p>

$5.6 billion cloud software company Nutanix shares soar almost 30% after Bain Capital invests $750 million, even as the CEO says he plans to retire

<ul class="summary-list"><li><keyword id="1815769" type="PERSON" weightage="60" keywordseo="slack">Slack</keyword> acquired business directory company <keyword id="9541163" type="UNKNOWN" weightage="60" keywordseo="rimeto">Rimeto</keyword> for an undisclosed amount, it announced Wednesday.</li><li>The move comes as employees that are working from home are "struggling to stay connected," Slack said in a blog post.</li><li>Rimeto, founded by three former Facebook employees, previously raised over $10 million in venture funding at a $42 million valuation, according to Pitchbook estimates. </li></ul><p>Work productivity company Slack bought <a href="https://slackhq.com/slack-acquisition-connecting-employees">business directory startup Rimeto</a>, it announced in a blog post Wednesday, as it tries to help its users strengthen their connections to their coworkers during the pandemic. </p><p>Rimeto's directories highlight employee skills, projects they're working on, and job experience along with contact information, and it's database is searchable by skill, region, or expertise. Slack plans to integrate Rimeto's profile and directory features directly into Slack, but will also continue to offer Rimeto as a standalone product.</p><p>Slack describes the acquisition as a solution to the fact that customers and employees were "struggling to stay connected" during the coronavirus crisis. </p><p>"We all want to understand the people we work with and have context around their lives," Slack wrote in <a href="https://slackhq.com/slack-acquisition-connecting-employees">its blog post explaining the acquisition.</a> "Employees with weak social ties to their colleagues aren't as happy or productive as employees at companies with a thriving, healthy culture."</p><p>The integration will make it easier for users to "find the people you need and understand the humans you're working with," the post added. </p><p>Rimeto was founded in 2016 by three former Facebook employees and raised an estimated $10.6 million in venture funding at a $42 million valuation, <a href="https://my.pitchbook.com/profile/235278-28/company/profile#insights" target="_blank" rel="noopener noreferrer">according to PitchBook</a>. Neither Slack nor Rimeto has disclosed the terms of the acquisition.</p><p>This is Slack's seventh acquisition, <a href="https://www.crunchbase.com/organization/slack#section-acquisitions">according to Crunchbase</a>, and the first company that it plans to keep as a standalone product. In 2018, it <a href="https://techcrunch.com/2018/09/24/slack-acquires-astro-to-conquer-email/">acquired email assistant startup Astro</a>, as well as <a href="https://www.businessinsider.com/atlassian-sell-hipchat-slack-2018-7">messaging rivals Stride and Hipchat</a> from the collaboration software company Atlassian. Its first acquisition was the <a href="https://www.businessinsider.com/slack-buys-spaces-2014-9">collaborative document company Spaces</a> in 2014. </p>

Slack just bought an employee directory startup that lets users find colleagues by skill or region as it tries to help people 'stay connected' during the pandemic

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Mike Windle/Getty Images</span></p><p class="caption">Salesforce CEO Marc Benioff</p></div><p></p></div></div></strong></p><ul><li><strong>Software as a Service (SaaS) companies like Salesforce and Workday could see their enteprise values double by 2020 if they focus on growing margins, Morgan Stanley forecasts.</strong></li><li><strong>Among 32 companies with similar profiles, Morgan Stanley projects a 21% growth in annual revenue, and 40% growth collectively in terms of earnings before interest and taxes (EBIT) by 2022. </strong></li><li><strong>Salesforce (CRM), ServiceNow (NOW), Proofpoint (PFPT), RealPage (RP), Workday (WDAY), and Veeva Systems (VEEV) are forecast to see the biggest gains. </strong></li></ul><p><br />Cloud-based software companies like Salesforce and Workday could see their values double in the next four years thanks to unique opportunities among this breed of tech companies to boost profit margins, according to the Morgan Stanley report published on Tuesday.</p><p>Analysts at Morgan Stanley wrote that while Software as a Service (SaaS) stocks may look expensive to investors under most traditional valuation metrics (such as price-earnings ratios), this ignores the real potential of cloud-based software companies that have recurring-revenue businesses.</p><div title="Page 6"><p><span>"Across our coverage group of 32 subscription-based models, we saw an average 30% revenue growth in 2017 (29% median)," the report says.  </span></p><p><span>That strong topline growth, combined with the improving efficiencies inherent in subscription software businesses translates into lots of room for operating margins to grow. Morgan Stanley has even coined a name for its SaaS company valuation model: Margin Medicine, which it defines as a framework for "for projecting efficiency improvements in subscription revenue models."<br /></span></p><p><span>Companies in this group could see 40% growth in terms of earnings before interest and taxes (EBIT). Collectively, these companies generate $3 billion in EBIT, which Morgan Stanley forecasts will grow to $16 billion in EBIT by 2022.</span></p><p><span>Among the stocks Morgan Stanley marks as most likely to see gains are Salesforce (CRM), ServiceNow (NOW), Proofpoint (PFPT), RealPage  (RP), and Workday (WDAY), and Veeva Systems (VEEV).</span></p><h2>5 key ingredients</h2><p>Morgan Stanley lists five factors that it believes will combine to provide a 30% point average boost in operating margins at SaaS companies:</p><ol><li><strong>Sales and Marketing efficiency, as headcount growth slows </strong></li><li><strong>Shifting in revenue mix towards subscription revenue instead of professional services</strong></li><li><strong>Spreading R&amp;D investments across a broader group of customers</strong></li><li><strong>Savings in General and Administrative costs</strong></li><li><strong>Improving subscription renewal rates from <keyword id="6356323" type="ENTERTAINMENT" weightage="100" keywordseo="Enterprise">enterprise</keyword> customers</strong></li></ol><div title="Page 8"><div><div><p><span>"Across our 32 recurring revenue software companies, we see significant room for revenue growth and profitability expansion," the report says. </span></p></div></div></div><p>With these gains, some of the SaaS companies could double in enterprise value, Morgan Stanley says.</p><p>Here are the 32 companies included in its analysis: </p><p>8x8 Inc., AppFolio, Appian, Box, Cloudera, Coupa Software, Castlight Health, EllieMae, Five9, GoDaddy, HubSpot, Instructure, Mindbody, Medidata Solutions, MongoDB, New Relic, Proofpoint, Qualys, Q2 Holdings, RealPage, Red Hat, RingCentral, Salesforce.com, SendGrid, ServiceNow, Shopify, Sophos Group, Veeva Systems, Workday, Workiva, Yext, Zendesk.</p></div><p> </p><p class="tagline">Visit  <a href="http://markets.businessinsider.com/">Markets Insider</a> for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. <a href="http://markets.businessinsider.com/">Go Now!</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/myths-earth-true-science-2016-4">5 common 'facts' about Earth that everyone gets wrong</a></h3>        <div>                    </div>    </div>

MORGAN STANLEY: Enterprise software companies like Salesforce and Workday could double in value by 2020

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Kevork Djansezian/Getty</span></p><p class="caption">HP and marijuana startup FlowHub are joining forces to make point-of-sale solutions for marijuana stores.</p></div><p></p></div></div></p><ul><li><strong>HP will start making registers for stores where marijuana is sold. It's the first major tech company to produce hardware for the marijuana industry.</strong></li><li><strong>The computer industry pioneer is partnering with marijuana startup Flowhub to sell point-of-sale solutions that come installed with marijuana-specific software.</strong></li><li><strong>The goal with this technology is to make it easy for marijuana stores, called dispensaries, to be compliant with state law and federal guidelines.</strong></li></ul><p> </p><p><a href="http://www.businessinsider.com/category/hp">Hewlett-Packard</a>, a computer industry pioneer, is cashing in on the marijuana "green rush."</p><p>In a first for the fledgling marijuana industry, HP Inc. will start providing point-of-sale retail solutions, or registers, that come installed with software made for marijuana businesses.</p><p>The <a href="https://www.nasdaq.com/symbol/hpq">$35 billion</a> enterprise company, whose business is built on selling and installing complex tech products for other companies, is partnering with marijuana startup <a href="https://flowhub.co/">Flowhub</a> on the first-of-its-kind retail offering. HP will manufacture the hardware, while Flowhub will handle the software side and sell the machines.</p><p>These new registers are designed for stores where marijuana is sold (called dispensaries), and their software aims to help licensed business owners track sales and inventory, create reports, and stay compliant with state regulatory agencies by sending reports to them automatically.</p><h2>Times are changing</h2><p>There was a time not too long ago when a medical marijuana patient could only buy their legal cannabis with cash, because f<span>ederal law prohibits banks and credit unions from taking marijuana money</span>. Even when dispensaries started accepting debit and credit cards, some people still paid with cash or <a href="http://www.businessinsider.com/future-of-marijuana-dispensaries-2015-11#tech-will-take-over-the-customer-experience-6">refused receipts</a> because they didn't want to create a paper trail.</p><p>But times are changing. With nine states and the District of Columbia having fully legalized marijuana, more than <a href="http://news.gallup.com/poll/221018/record-high-support-legalizing-marijuana.aspx">one in five Americans</a> live in a state where they can legally enjoy the drug for recreational use. <a href="http://www.businessinsider.com/legal-weed-market-to-hit-10-billion-in-sales-report-says-2017-12">Legal marijuana sales</a> hit $9.7 billion in 2017, a 33% increase over 2016.</p><p>As marijuana legalization sweeps the nation and the stigma against the drug decreases, tech companies have set out to solve one of the biggest problems facing the industry: compliance.</p><h2>HP saw the legitimacy of the marijuana industry</h2><p>In addition to making laptops and printers, HP is one of the world's <a href="https://www.grandviewresearch.com/industry-analysis/point-of-sale-pos-terminals-market">leading providers</a> of point-of-sale retail solutions. The global <a href="https://www.grandviewresearch.com/industry-analysis/point-of-sale-pos-terminals-market">point-of-sale market size</a> reached nearly $48 billion in 2016.</p><p>The marijuana industry opens up an entirely new revenue stream for the PC giant.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Flowhub</span></p></div><p></p></div></div></p><p>Kyle Sherman, who founded Flowhub in Denver, Colorado, the year after legal marijuana sales began, said HP approached his company about working together sometime in 2017.</p><p>"They read about us," Sherman told Business Insider. "Obviously we knew about them."</p><p>In December, Flowhub welcomed representatives from HP's Retail Solutions Department to Denver for a tour of some large-scale marijuana dispensaries. Sherman said that the experience showed HP employees how regulated and "really legit" the marijuana industry has become.</p><p>Earlier this year, HP started manufacturing the hardware for these point-of-sale systems. Flowhub installs its software and sells the machines to marijuana business owners. A handful of HP's systems have been in beta testing at select dispensaries since the start of the year.</p><p>Aaron Weiss, HP's vice president and general manager for Retail Solutions, said in a statement, "HP is delighted to be a key part of the solution in this exciting new regulated industry."</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Flowhub</span></p></div><p></p></div></div></p><p>The machine is metal and built to last, according to Sherman. His hope is that the system could someday replace iPads and computers that some marijuana businesses use as registers.</p><p>IPads and computers might be cheaper solutions than some point-of-sale systems, but, Sherman said: "You're getting a device that's going to break after six months or a year."</p><p>He added: "These machines are doing a big job - an important job - so you want quality."</p><h2>How Flowhub works</h2><p>Founded in 2015, Flowhub makes software for marijuana growers and sellers that allows them to monitor marijuana from "<a href="https://www.huffingtonpost.com/entry/how-seed-to-sale-systems-are-revolutionizing-the-cannabis_us_59724910e4b06b511b02c312">seed to sale</a>." It collects and crunches data to ensure every leafy bud and marijuana product is handled in compliance with state law and federal guidelines.</p><p>In practical terms, Flowhub helps marijuana businesses show the government that product isn't coming in from illegal cultivation sites or disappearing into the black market.</p><p>During a typical transaction at a dispensary that uses Flowhub software, customers place their order with an employee and pay in cash, credit, or debit at the register. The point-of-sale system logs the transaction and tracks what inventory comes in and leaves the store.</p><p>If there's a discrepancy in what inventory has been recorded and what's actually there - a problem known as shrinkage - a business owner can search the seed-to-sale platform to figure out a product's last known position in the supply chain and which employees handled it.</p><p>Flowhub creates a sort of audit trail for all the product managed, which a business owner can provide if they're ever questioned by government authorities seeking proof of compliance.</p><p>When business owners sync their registers to the cloud, the Flowhub platform sends sales reports automatically to Metrc, a database company that works with<span> government agencies that regulate legalized marijuana. Flowhub currently serves marijuana businesses in Colorado, Oregon, Alaska, California, Michigan, Maryland, Massachusetts, and Nevada, which all use Metrc.</span></p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Skye Gould/Business Insider</span></p><p class="caption">Recreational marijuana is legal in nine states and medical marijuana is legal in 29 states.</p></div><p></p></div></div></p><p><span>Flowhub processes over one million transactions every month, according to the company. With help from <a href="http://www.businessinsider.com/california-legalizing-weed-on-january-1-market-size-revenue-2017-12">California's recreational marijuana market</a>, Flowhub projects revenue will top $5 million in 2018.</span></p><h2>Big Tech is taking the leap into legal marijuana</h2><p>HP is the first major tech company to produce hardware for the marijuana industry.</p><p>It joins another computer industry pioneer in tapping into the "green rush."</p><p>In June 2016, <a href="http://www.businessinsider.com/microsoft-marijuana-tracking-software-2016-11">Microsoft revealed it would start making seed-to-sale software</a> from marijuana startup Kind Financial available through a cloud-based software suite that it distributes to state, county, and municipal governments. Kind's software helps regulatory agencies keep tabs on sales and commerce and gives entrepreneurs the comfort that comes with compliance.</p><p>David Dinenberg, founder and CEO of Kind, told Business Insider that it wasn't easy convincing Microsoft, a 41-year-old company, to foray into marijuana.</p><p>Kind appealed to Microsoft because it doesn't "touch the plant," or have direct ties to growing or selling marijuana, according to Dinenberg. There's less risk involved for companies that provide ancillary products and services, even when the end-user deals in marijuana.</p><p>"At the end of the day, we are a technology company that provides services. We happen to cater to the marijuana industry, but we don't grow marijuana," Dinenberg said.</p><p>The same thinking applies with the deal that HP struck with Flowhub. HP </p><p>The hulking enteprise company is getting involved with the marijuana industry in a tangential way, but the event still marks a major milestone for both the technology and marijuana industries.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/richard-branson-supports-legalizing-marijuana-health-problem-not-criminal-2016-11">RICHARD BRANSON: The war on drugs should've been shut down 49 years ago</a></h3>        <div>                    </div>    </div>

You Searched For "enteprise tech" and got 4 results

$5.6 billion cloud software company Nutanix shares soar almost 30% after Bain Capital invests $750 million, even as the CEO says he plans to retire

Benjamin Pimentel

Slack just bought an employee directory startup that lets users find colleagues by skill or region as it tries to help people 'stay connected' during the pandemic

Keerthi Vedantam

MORGAN STANLEY: Enterprise software companies like Salesforce and Workday could double in value by 2020

Becky Peterson

HP is jumping into the legal marijuana industry with a technology that could change the way people buy weed - and it's a first for Silicon Valley

Melia Robinson

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