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Archivo del Autor: Belen De Leon

Snap CFO Tim Stone is resigning

Snap CFO Tim Stone is leaving the company, according to documents Snap filed with the SEC today.

“Tim has made a big impact in his short time on our team and we are very grateful for all of his hard work,” Snap CEO Evan Spiegel wrote in a memo, obtained by TechCrunch, to employees. “I know we have all benefitted from his customer focus and the way he has encouraged all of us to operate as owners.”

This marks Snap’s second CFO departure in the last 12 months.

“Mr. Stone has confirmed that this transition is not related to any disagreement with us on any matter relating to our accounting, strategy, management, operations, policies, regulatory matters, or practices (financial or otherwise),” Snap General Counsel and Secretary Michael O’Sullivan wrote in the filing. “Mr. Stone’s last day has not been determined. Mr. Stone will continue to serve as Chief Financial Officer to assist in the search for a replacement and an effective transition of his duties, including through our scheduled full year 2018 financial results announcement.”

In Spiegel’s memo, he also notes that Stone’s departure is not related to any disagreements pertaining to its finances (see full memo below).

Stone is a long-time Amazon executive who joined Snap from Amazon back in May to replace outgoing CFO Drew Vollero. Vollero served as Snap’s first CFO.

Snap is currently finalizing its Q4 2018 results and says it expects to report revenue and adjusted EBITDA results “that are slightly favorable to the top end of our previously reported quarterly guidance ranges for each.”

Snap closed the day up 3.65 percent at $6.54 per share. In after-hours trading, Snap is trading down more than seven percent.

Here’s the full text of Spiegel’s memo:

Team,

I wanted to let you know that Tim Stone, our CFO, has decided to leave Snap.

Tim has made a big impact in his short time on our team and we are very grateful for all of his hard work. I know we have all benefitted from his customer focus and the way he has encouraged all of us to operate as owners.

Tim will remain at Snap to help with the transition, including through our Q4 and full year earnings call on February 5th.

Tim’s transition is not related to any disagreement with us on any matter relating to our accounting, strategy, management, operations, policies, regulatory matters, or practices (financial or otherwise).

Please join me in wishing Tim all the best in his future endeavors!

TechCrunch has reached out to Snap and will update this story if we hear back.


Source: TechCrunch

The 'Spider-Man: Far From Home' Trailer Raises Some Questions

Think Peter Parker got dusted for good in ‘Infinity War’? Think again.
Source: Wired

The Subversive, Delectable Fun of Troye Sivan's "Lucky Strike"

Not to make this about politics or walls or borders or displacement, but the Australian pop singer’s new song is all about politics and walls and borders and displacement.
Source: Wired

The Instagram Egg’s Delightful Appeal

The egg feels absurd, but it’s part of a viral playbook we’ve seen before.
Source: Wired

Polk will have first non-Amazon speaker to support Alexa multi-room – CNET

Polk’s Command Bar is the first third-party device to the whole-home Alexa party.
Source: CNET

Mustang GT500 vs. Challenger Redeye vs. Camaro ZL1: How do they stack up? – Roadshow

We compare the latest American muscle from Chevy, Dodge and Ford.
Source: CNET

Microsoft continues to build government security credentials ahead of JEDI decision

While the DoD is in the process of reviewing the $10 billion JEDI cloud contract RFPs (assuming the work continues during the government shutdown), Microsoft continues to build up its federal government security bona fides, regardless.

Today the company announced it has achieved the highest level of federal government clearance for the Outlook mobile app, allowing US Government Community Cloud (GCC) High and Department of Defense employees to use the mobile app. This is on top of FedRamp compliance, the company achieved last year.

“To meet the high level of government security and compliance requirements, we updated the Outlook mobile architecture so that it establishes a direct connection between the Outlook mobile app and the compliant Exchange Online backend services using a native Microsoft sync technology and removes middle tier services,” the company wrote in a blog post announcing the update.

The update will allows these highly security-conscious employees to access some of the more recent updates to Outlook Mobile such as the ability to add a comment when canceling an event.

This is in line with government security updates the company made last year. While none of these changes are specifically designed to help win the $10 billion JEDI cloud contract, they certainly help make a case for Microsoft from a technology standpoint

As Microsoft corporate vice president for Azure, Julia White stated in a blog post last year, which we covered, “Moving forward, we are simplifying our approach to regulatory compliance for federal agencies, so that our government customers can gain access to innovation more rapidly,” White wrote at the time. The Outlook Mobile release is clearly in line with that.

Today’s announcement comes after the Pentagon announced just last week that it has awarded Microsoft a separate large contract for $1.7 billion. This involves providing Microsoft Enterprise Services for the Department of Defense (DoD), Coast Guard and the intelligence community, according to a statement from DoD.

All of this comes ahead of decision on the massive $10 billion, winner-take-all cloud contract. Final RFPs were submitted in October and the DoD is expected to make a decision in April. The process has not been without controversy with Oracle and IBM submitting a formal protests even before the RFP deadline — and more recently, Oracle filing a lawsuit alleging the contract terms violate federal procurement laws. Oracle has been particularly concerned that the contract was designed to favor Amazon, a point the DoD has repeatedly denied.


Source: TechCrunch

Alphabet's Loon recruits high-powered mobile veterans to serve on board – CNET

Loon, spun out of Google’s parent company, prepares for a commercial launch later this year.
Source: CNET

Avengers: Endgame comes out in 100 days, so here are some theories – CNET

After Infinity War came out, we came up with some ideas about what might happen next.
Source: CNET

German court dismisses latest Qualcomm patent suit against Apple – CNET

But a separate ban on iPhones in Germany still stands.
Source: CNET

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