Japanese Startup Surges 300% on Demand for Cloud-Based Accounting

(Bloomberg) — Daisuke Sasaki has seen his cloud-based accounting company’s valuation swell to $3.7 billion despite having yet to show a profit, but he’s not letting that pressure him.

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Shares of Freee K.K. have quadrupled since going public on the Tokyo Stock Exchange in December, along with rising demand for cloud services amid the remote-working trend.

“We don’t have a set timeframe for when the company will swing to profits,” Sasaki, founder and chief executive of Freee, said in an interview on Aug. 17. “Our business is about subscription.”

The Tokyo-based firm’s stock is one of the many technology names that have surged during Covid-19, fueled by investor euphoria over stay-at-home and DIY themes. While the pandemic roiled the outlook for companies around the world, U.S. accounting software giant Intuit Inc. beat recent earnings estimates, helped by better-than-expected growth for its cloud-based service for small businesses.



chart: Shares of cloud accounting firm have nearly quadrupled since IPO


© Bloomberg

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Japan Startup Surges 300% on Demand for Cloud-Based Accounting

(Bloomberg) — Daisuke Sasaki has seen his cloud-based accounting company’s valuation swell to $3.7 billion despite having yet to show a profit, but he’s not letting that pressure him.

Loading...

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Shares of Freee K.K. have quadrupled since going public on the Tokyo Stock Exchange in December, along with rising demand for cloud services amid the remote-working trend.

“We don’t have a set timeframe for when the company will swing to profits,” Sasaki, founder and chief executive of Freee, said in an interview on Aug. 17. “Our business is about subscription.”

The Tokyo-based firm’s stock is one of the many technology names that have surged during Covid-19, fueled by investor euphoria over stay-at-home and DIY themes. While the pandemic roiled the outlook for companies around the world, U.S. accounting software giant Intuit Inc. beat recent earnings estimates, helped by better-than-expected growth for its cloud-based service for small businesses.



chart: Shares of cloud accounting firm have nearly quadrupled since IPO


© Bloomberg

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Wall Street surges on rekindled stimulus optimism

NEW YORK (Reuters) – U.S. stocks jumped on Wednesday as fresh hopes for a new pandemic relief package and upbeat economic data set the major indexes on course to end the quarter on a high note.

FILE PHOTO: A worker cleans the floor of the New York Stock Exchange (NYSE) , U.S., March 20, 2020. REUTERS/Lucas Jackson/File Photo

All three major indexes moved sharply higher after U.S. House of Representative Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin both expressed hope for a breakthrough in partisan stimulus negotiations.

“The real thing that’s pushing the markets higher today is hopes for additional stimulus,” said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York. “But you combine that with good economic news and throw in quarter-end window dressing, you end up with a market that’s up as opposed to where futures were headed last night after the debate.”

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Air Purification Innovator, Molekule, Enters Japanese Market with Partner Sourcenext, as Global Demand for its Technology Surges

Agreement includes $10M investment to be used for growth initiatives

SAN FRANCISCO, Sept. 28, 2020 /PRNewswire/ — Molekule, the company reinventing air purification, today announced that it closed a partnership agreement with Sourcenext, (listed on the first section of the Tokyo Stock Exchange, code: 4344), a market maker for brands in Japan including software, hardware, and IoT products. The agreement signals the next phase of growth for Molekule, which includes global expansion. In a commitment to Molekule’s innovation, Sourcenext has also invested $10 million into the company. The funds will be used for growth initiatives as the company prepares to meet strong global demand for an air purification solution that destroys airborne pollutants, including viruses and chemicals.

Molekule Air Mini+
Molekule Air Mini+

“Molekule’s breakthrough and patented PECO technology is unique in the marketplace, offering a new solution that both captures and destroys air pollutants,” said Nori Matsuda, Founder and

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Dreamscape Education And Defense Business Surges In Lockdown

Last week, Dreamscape Immersive announced the creation of Dreamscape Learn, an VR education platform now in development with Arizona State University. Over one hundred fifty designers, coders, and educators will work collaboratively to create immersive learning curricula on the Tempe campus. The first course, an entirely immersive approach to introductory biology, takes place inside of Dreamscape’s signature VR adventure Alien Zoo, which will serve as a virtual laboratory for students to explore, observe and solve problems. Michael Crow, President of ASU, said “Dreamscape Learn will take education into the 21st Century, where students become scientists working within pods in an Alien Zoo to study evolutionary biology.” 

Dreamscape Learn is expected to be available to students in 2021 with rapid expansion into other subjects by 2022. “Education is not a new direction for us. They’re in the founding DNA of the company,” said Parkes, “This is what Artamin, our Swiss

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COVID-19 forces one of the biggest surges in technology investment in history, finds Harvey Nash/KPMG survey


COVID-19 forces one of the biggest surges in technology investment in history, finds Harvey Nash/KPMG survey




HONG KONG, Sept. 25, 2020 /PRNewswire/ — Companies spent the equivalent of around US$15bn[1] extra a week on technology to enable safe and secure home working during COVID-19, reveals the global 2020 Harvey Nash/KPMG CIO Survey. This was one of the biggest surges in technology investment in history – with the world’s IT leaders spending more than their annual budget rise[2] in just three months, as the global crisis hit, and lockdowns began to be enforced.


The largest technology leadership survey in the world of over 4,200 IT leaders, including over 100 leaders from mainland China and Hong Kong, analysed responses from organizations with a combined technology spend of over US$250bn. Surveyed CIOs in mainland China and Hong Kong

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