Investments

Amid Snapchat’s IPO Debut, Some Unicorns Have Wings

The big news in tech land might have been the debut of Snapchat IPO shares, publicly traded in the U.S. And indeed those shares soared upon their first day of trading, up roughly 50 percent at the opening. But beyond that, and a bit more quietly, the unicorns stirred a bit.

In news tied to financial results, data-as-a-service firm Actifio said that it has achieved a “dramatic” level of growth across its revenue base. The firm said that for the year that just ended on Jan. 31, they were up 60 percent while cash burn was reduced by 70 percent. The customer base, the firm said, has been using as much as 250 petrobytes of data annually.

Separately, in the land of securitizations, Kabbage is marketing a $500 million securitization of small and mid-sized business loans, according to trade reports, that will be used to refinance an older deal, Global Capital reported. That deal will be marketed next week, the second week of March.

In a nod to the continued competition in India’s eCommerce realm, intense as it is, Snapdeal has said that it is laying off staff amid a larger restructuring effort. The firm will jettison 500 to 600 positions, TechCrunch reported, and that comes after the company said that its push toward profitability continues, and it will be among the first eCommerce firms in the region to show black ink on its bottom line in two years.

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