U.S. Tsunami Warning System Struggles with Budget and Staffing Reductions Facing Additional Challenges

This month, nine seismic observatories in Alaska are expected to lose power, leaving tsunami forecasters without essential data to assess whether an earthquake could generate destructive waves heading toward the West Coast.

These stations depended on federal support that lapsed last year, and the Trump administration declined to renew it this fall. Information from the observatories is vital for researchers studying the size and shape of earthquakes occurring along the Alaska subduction zone, a fault known for producing some of the globe’s most potent earthquakes, thereby endangering California, Oregon, Washington, and Hawaii.

Michael West, director of the Alaska Earthquake Center, mentioned that the removal of the observatory could postpone the notification of a potential tsunami in Alaska’s coastal regions, with areas like Washington state potentially facing less precise forecasts.

“Statistically, the last tsunami in the United States originated from Alaska, and the next one will likely follow suit,” he stated.

This is yet another setback for the U.S. tsunami warning system, which has already been grappling with underfunding and staff shortages. Researchers are alarmed that the network might be on the verge of collapse.

“The entire tsunami warning system is regressing,” West said. “There are numerous issues at play.”

In the United States, there are two tsunami warning centers that operate continuously—one in Palmer, Alaska, and another in Honolulu. These centers provide forecasts that assist emergency managers in deciding if coastal evacuations are necessary after an earthquake. Data from Alaska’s seismic stations has historically been integral to the center’s operations.

Both centers are already experiencing staffing shortages; currently, only 11 of the 20 full-time positions at the Alaska center are filled, as reported by Tom Fahey, union legislative director for the National Weather Service Employees Organization. Meanwhile, in Hawaii, four out of 16 positions remain vacant. (Fahey indicated both sites are looking to hire scientists.)

Furthermore, funding for the National Tsunami Hazard Reduction Program, which finances the majority of state tsunami risk reduction initiatives, has been slashed by the National Oceanic and Atmospheric Administration (NOAA). In 2025, a mere $4 million was allocated—significantly less than the historic $6 million provided.

“You’re on life support,” West remarked regarding the program.

Tsunami evacuation route sign in Bolinas, California.Steven Lamb/San Francisco Chronicle, via Getty Images file

Additionally, due to probationary layoffs in February under the Trump administration, NOAA terminated Corinna Allen, director of the National Weather Service’s tsunami program, as reported by Washington state seismologist Harold Tobin. Allen, who had just recently joined the agency, refrained from commenting through a spokesperson for her new employer, the Washington State Department of Natural Resources.

These recent reductions coincide with the Trump administration’s broader strategy to cut federal spending, especially on science and climate research. NOAA enacted cuts in February, including hundreds of layoffs, reductions in weather balloon launches, and a halt to research on climate and weather disaster costs.

Most of the closed seismic stations in Alaska are located in isolated regions of the Aleutian Islands. West noted that this chain extends westward from the Alaska Peninsula towards Russia, following a subduction zone on the ocean floor. KHNS is Alaska’s public radio station, which first reported the news of the stations going offline.

A NOAA grant of approximately $300,000 annually had supported these stations. The Alaska Earthquake Center sought a new grant to continue operations through 2028 but was turned down, according to emails between West and NOAA officials examined by NBC News.

NOAA spokesperson Kim Doster stated that the federal agency ceased funding in 2024 under the Biden administration. Uma Bhatt, a professor at the University of Alaska Fairbanks and deputy director of the institute managing the grant, mentioned that the University of Alaska Fairbanks managed to raise funds in the spring to keep the program running for another year, anticipating that federal support would follow. Unfortunately, that funding never materialized.

“The removal of these observations does not hinder the Tsunami Warning Center from fulfilling its mission,” Doster remarked. “AEC [Alaska Earthquake Center] is one among many partners aiding the National Weather Service’s tsunami initiatives, and the NWS continues using various methods to guarantee the collection of seismic data throughout Alaska.”

The White House has not responded to requests for comment.

West indicated that the Alaska Earthquake Center supplies a significant portion of the data utilized for tsunami alerts in the state. The grant funding the nine seismic stations also facilitated a data stream that included inputs from the center’s additional sensors. Consequently, tsunami warning centers across the nation will no longer have direct access to that data feed.

West noted that the stations spread across the Aleutian Islands cover an extensive geographical expanse.

“There’s nothing else in the vicinity,” he pointed out. “It’s not like there’s another piece of equipment 20 miles away; there aren’t even any roads.”

West intends to abandon the station later this month but will leave the equipment behind.

Washington State’s Tobin expressed concerns that the closures “might lead to delays and diminish the quality of tsunami warnings.”

“Surveillance is sparse in this region. We need to be vigilant,” he remarked, adding, “These programs often operate unnoticed until a critical event occurs.”

The Alaska-Aleutian subduction zone stands out as one of the most active fault lines globally, having previously triggered substantial tsunamis. In 1964, a magnitude 9.2 earthquake unleashed a tsunami that claimed 124 lives, with 13 fatalities in California and five in Oregon. The majority of California’s casualties occurred in Crescent City, where waves reaching 6 meters obliterated 29 city blocks, according to the city’s website.

Experts in tsunami studies emphasized that the observatory stations in the Aleutian Islands are crucial for the swift identification of nearby earthquakes. The closer an earthquake is to a sensor, the lower the uncertainty regarding the resulting tsunami.

NOAA’s Tsunami Warning Center aims to generate an initial forecast within five minutes, which is vital for local communities. (In the event of a significant earthquake in the Aleutian Islands, the first waves could reach nearby Alaskan towns within minutes.) The only data available quickly enough to facilitate these initial projections comes from seismic signals, as opposed to buoy-mounted tide gauges or pressure sensors.

Subsequently, the warning center provides a more detailed wave height prediction about 40 minutes later. Daniel Ungaard, director of tsunami programs at the Washington Geological Survey, noted that without sensors in Alaska, there would be increased uncertainty about projected wave heights, complicating decisions on whether to initiate evacuations along Washington’s coastline.

“We strive to avoid unnecessary evacuations,” he explained, emphasizing that unwarranted alerts could result in wasted time, resources, and credibility.

Last year, tsunami warning centers nationwide were inundated. In December, a magnitude 7.0 earthquake near Cape Mendocino, California, activated a tsunami warning along the coast. July saw an 8.8 magnitude earthquake off the coast of Russia’s Kamchatka Peninsula, prompting a widespread warning along the U.S. West Coast, just west of the Aleutian Islands.

NOAA has been instrumental in establishing many seismic observatories that form part of the Alaska Earthquake Center network. However, West mentioned that over the past two decades, the agency has decreased its support. The nine bases developed by NOAA were decommissioned in 2013.

“Now is the moment for NOAA to decide on their commitment,” he declared. “I aim to ignite a conversation about tsunami preparedness in the United States, ensuring it doesn’t merely arise in response to the next catastrophic tsunami.”

Source: www.nbcnews.com

Kido Nursery Hackers Threaten to Release Additional Children’s Profiles | Cybercrime Update

A hacker threatens to release personal information and photographs of thousands of nursery children online unless a ransom is paid.

Identified by the alias Shine, the hacker compromised the UK-based Kido Nursery chain and revealed the profiles of 10 children online on Thursday. Their Dark Web site features a “Data Leak Roadmap,” indicating plans to “publish 30 profiles of personal data for each child and 100 employees.”

A cybersecurity briefing reviewed by the Guardian suggests that Radiant is a new entity within the cybercrime landscape, “pushing the limits of morality and practicality.”

The group’s online content demonstrates proficient English skills; however, there are hints they may not be Western, attributed to a “slight awkwardness” in their phrasing, the analysis indicates.

The Radiant Gang’s “leak sites”—a common strategy in ransomware attacks displaying victim data on the dark web—contain 10 Kido customer profiles for parents, which include the child’s name, date of birth, parent’s and grandparent’s names, as well as address and phone number.

The site claims to possess sensitive information on over 8,000 children and their families, documenting incidents, protection reports, and claims. All Kido nurseries in the UK have reported being impacted.

The leak site mentioned its efforts to negotiate with Kido, stating, “It’s slowly leaking, which undermines the entire company and prompts them to continue the dialogue.”

A spokesperson from Kido stated: “We have recently identified and responded to cyber incidents. We are collaborating with external experts to investigate and determine the details of what occurred. We will promptly inform both our families and relevant authorities and maintain close communication with them.”

The nursery chain is collaborating with authorities, including the intelligence committee’s office, Ofsted, and the Metropolitan Police, which is currently conducting an investigation.

An email from Kido UK CEO Catherine Stoneman, reviewed by the Guardian, noted a “complex” forensic investigation and emphasized treating the incident as a “first priority.” She suggested that the breach involved “two third-party systems responsible for processing certain data.”

Stoneman elaborated: “If we confirm that family information has been compromised, affected families have been contacted. If you have not received direct communication, that means there is no forensic evidence indicating your data has been impacted.”

With 18 locations across London, the US, India, and China, Kido informed parents that the breach occurred due to criminal access to data hosted on a software service known as Famly.

Famly’s CEO, Anders Laustsen, stated: “We will conduct a comprehensive investigation into this matter to ensure that Famly’s security and infrastructure have not been compromised.

One parent shared with the BBC that she received a threatening phone call from a hacker.

Sean, whose child attends Kido Nursery in Tooting, southwest London, expressed that neither he nor any parents he knew had been directly informed by the nursery about the potential compromise of their children’s data. “How could they obtain details for specific kids, not just generally? That’s the real issue,” he remarked.

Sean noted that he viewed the risk of real-time information regarding children—such as through cyberattacks—as a necessary trade-off for using the app. He empathized with nursery staff who bear the brunt of parental complaints, pointing out that the app provider should be held accountable.

“One of the obviously alarming aspects is that anyone could stoop to such depths to extort money from a nursery while using children as leverage,” he said.

Authorities are cautioning businesses against paying hacker ransoms to help prevent the perpetuation of criminal activities, as cyberattacks continue to escalate in frequency.

Recent high-profile victims include Co-ops, Marks & Spencer, and Jaguar Land Rover. Many of these attacks have been linked to an English-speaking cybercrime group known as “scattered spiders.”

The M&S hack utilized ransomware commonly associated with Russian-speaking cyber gangs, including software designed to lock target IT systems.

The BBC communicated with criminals via the Signal messaging app, found them fluent in English but learned that it wasn’t their primary language, and they employed others for calls.

The hacker remarked, “We do it for profit, not just for the sake of being criminals. I know I’m committing crimes and this isn’t my first or my last.”

They added that the public scrutiny was too intense, leading them to refrain from targeting nurseries again.

Source: www.theguardian.com

Nvidia confirms US will restrict sales of additional AI chips to China

Nvidia stated on Tuesday that the US government will sell some of its artificial intelligence chips to China without a license and will require a license for future sales.

These restrictions mark the first major limitations imposed by President Trump’s administration on semiconductor sales overseas. This decision could lead to Nvidia’s sales to China diminishing in the near future, as the US has restricted the export of chips to its geopolitical rivals.

Nvidia has been striving to maintain sales to China amidst increasing government restrictions. In response to rules imposed by the Biden administration in 2022, Nvidia modified its main AI chip, the H100, to comply with the US government’s regulations. The resulting H20 chip has now become a product exclusively available in China.

NVIDIA is projected to incur a $5.5 billion expense against current quarterly revenues due to H20 inventory, purchase commitments, and related reserves.

The impact of these restrictions is more strategic than financial. Nvidia holds a dominant position in the semiconductor market for artificial intelligence systems. Selling chips to China is vital for its future, and losing access to this market could potentially benefit Huawei, a leading Chinese AI chip manufacturer, in challenging Nvidia globally.

“This decision will limit Nvidia’s reach in key markets and weaken its influence in the country,” stated Patrick Moorhead, a technology analyst at Moor Insights & Strategy. “Chinese companies may simply turn to Huawei as an alternative.”

Nvidia declined to provide a comment. The company’s stock price dropped over 5% in after-hours trading on Tuesday.

Commerce Department spokesperson Benno Kass announced on Tuesday that the government will be enforcing new export licensing requirements for NVIDIA H20 chips, AMD’s MI308 chip, and equivalents.

“The Commerce Department is dedicated to implementing the President’s directive to safeguard our national and economic security,” Kass remarked.

Nvidia announced changes to its regulatory filings on Tuesday, a day after earning praise from the White House for committing to invest $500 billion in US AI infrastructure. The company plans to begin manufacturing servers at its Houston plant and collaborate with a chip packaging company based in Arizona.

Despite these commitments, a regulatory submission revealed that NVIDIA will need to seek licenses from China for selling AI chips following notification from the Trump administration. The administration confirmed on Tuesday that the licensing requirements will remain in place indefinitely.

This development follows a meeting between Nvidia CEO Jensen Huang and Trump at a $1 million Mar-a-Lago dinner per person. Speculation arose that the US government might relent on its plans to restrict Nvidia’s sales to China.

Since taking office, the Trump administration has vowed to crack down on US support for Chinese AI companies. The emergence of Chinese startup Deepseek in recent months, which developed an AI system at a fraction of the cost typically spent by US companies, has raised concerns in Washington.

During his nomination hearing, Commerce Secretary Howard Lutnick emphasized the need to prevent Chinese companies from leveraging American technology to compete against the US.

Nvidia reported $17 billion in sales to China last year. As US government restrictions continue, the company’s operations face significant challenges, with sales to China dropping from about a fifth of Nvidia’s revenue in 2023 to 13% last year.

In its filing, NVIDIA did not indicate the impact of the licensing requirements on future sales. Analysts suggest that stock may be limited as the H20 chips have been modified to match the performance of the H100 chip, which can still be sold by US and European companies.

Source: www.nytimes.com

Experiments in Basic Physics Could Uncover Hidden Dark Matter in Additional Dimensions

We don’t tend to dwell on the fact that we exist in three dimensions. Front to back, left to right, up to down – these are the axes along which we move through the world. When we try to imagine something else, we usually conjure up the most outlandish science fiction images of portals in the fabric of space-time and parallel universes.

But serious physicists have long been fascinated by the possibility of extra dimensions. Despite their intangibility, extra dimensions hold the promise of solving some big questions about the deepest workings of the universe. And just because they’re hard to imagine and even harder to observe doesn’t mean we can rule them out. “There’s no reason they have to be three-dimensional,” says David Schneider, a physics professor at the University of California, San Diego. Georges Obie At Oxford University. “It could have been two, it could have been four, it could have been ten.”

Still, there comes a time when any self-respecting physicist wants hard evidence. That’s why it’s so exciting that over the past few years, researchers have developed several techniques that may finally provide evidence of extra dimensions. For example, we might be able to detect gravity leaking into extra dimensions. We might see subtle signatures of it in black holes, or we might find its signature in particle accelerators.

But now, in an unexpected twist, Ovid and his colleagues claim that there is an extra dimension that is fundamentally different from any previously conceived. This “dark dimension” hides ancient particles whose gravity could solve the mystery of dark matter, the force that is thought to have shaped the universe. Crucially, this dimension is relatively…

Source: www.newscientist.com

Company announces plans to sell additional shares as Trump Media stock crashes

Former President Donald Trump’s social media company saw a 12% drop in shares on Monday due to a regulatory filing stating the potential sale of millions of additional shares. This resulted in a further decline in stock prices.

The filing revealed that 146.1 million shares of Trump Media & Technology Group could be sold, including 114.8 million owned by Trump himself. Additionally, 21.5 million shares could be sold through warrants issued during the company’s merger with Digital World Acquisition Corp.

Since its market debut on March 26, parent company Truth Social has seen a 60% decrease in stock price. Trump is currently unable to sell any of his shares due to a lock-up agreement until September, tying his wealth to the company’s value. If the price remains stable, he stands to make significant profits from the stock.

On the same day, Trump, the presumed 2024 Republican nominee, began a criminal trial in Manhattan facing 34 felony charges related to falsifying business records in connection to payments to Stormy Daniels. This marks the first criminal trial of a US president and is expected to continue for about six weeks.

Trump is currently under financial strain due to various legal battles over the past year, owing approximately $500 million from civil cases. Trump media has received support from some of his major political donors, providing a lifeline for him to pay off his debts.

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Recently, Democratic advocacy groups urged Congress to investigate Trump Media due to suspicious activities. In early April, two Florida brothers pleaded guilty to insider trading linked to the social media company. Additionally, reports suggest that the company is relying on loans from a Russian-American businessman facing federal investigations for money laundering and insider trading.

Source: www.theguardian.com

Julia Louis-Dreyfus is back with additional insights and words of wisdom from inspiring women | Podcast

This week’s picks

football dial F
Widely available every week starting Wednesday

Total Sport FM listeners are used to their hosts being white and ungainly, so what happens when the management brings in a young YouTuber? Rory Adefope (below), with Des (Fergus Craig) She plays Lisa, a new employee who pairs up to compete for airtime. The fast-talking, tongue-in-cheek satire of sports radio is spot-on, and every character is a bit ignorant and awful. As the producer says, “Hate equals clicks, views, and ad dollars.” Hannah Verdier

miss me?
BBC Sounds, 2 episodes every week
Lifelong friends Lily Allen and Mikita Oliver have a wealth of chemicals and materials for their twice-weekly updates. Funny stories, memories from her ’90s involving A-listers, discussion of hot topics, musings on the Princess of Wales are all here, and an insider’s look at how the celebrity world works It also includes a perspective. HV

Rory Adefope. Photo: Julia Kennedy/Observer

smarter than me
Wide range of weekly episodes available
Julia Louis-Dreyfus’ best podcast with older (and smarter) women is back for season two. Billie Jean King, Patti Smith, and Sally Field are among the sensational subjects who offer pure inspiration this time around. Louis-Dreyfus says it has “brainwashed” her about her own ideas about aging and made her look forward to it. I can see why. HV

unreliable witness
Wide range of weekly episodes available
Who is Ellie Williams? The 22-year-old was jailed on false rape charges in 2022, but this nuanced podcast proves there’s a lot the public doesn’t know. Sky News home editor Jason Farrell and producer Liz Lane have spoken to her family and friends, who portray her as an intelligent and sociable woman who had shown signs of abuse. HV

strike
BBC Sounds, weekly episodes
There are many reflections on the miners’ strike, which marks its 40th anniversary, but it is the personal memories that are truly moving. Merthyr Tydfil-born filmmaker Jonny Owen, then 13, explores the divide between miners who went on strike and those who didn’t, and how it divided friendships and communities. talked about. HV

There’s a podcast for that

Danny Robbins, host of the Battersea Poltergeist Podcast. Photo: David Levin/The Guardian

this week, Rachel Aroesti choose the best five paranormal phenomenon Podcasts from a guide to American spiritualism to a BBC investigation finding the truth about 1950s London poltergeists.

ghost story
This wonderful podcast by journalist Tristan Redman begins as a vague anecdote about a potentially haunted attic in south-west London and turns into a fascinating, deep, and rather beautiful meditation on memory and the past. We will continue to expand. This series was started by a strange coincidence. As a child, Redman experienced strange occurrences in her bedroom. Years later, he found his wife’s great-grandmother murdered next to her. What follows is an interesting investigation into a very strange murder and a spine-chilling investigation into the possibility of ghosts. Could it be that Redman has lived under the influence of supernatural forces all his adult life? Although his conclusions were by no means definitive, they were revelatory and moving.

battersea poltergeist
Danny Robbins is the king of paranormal podcasting in the UK, as host of the BBC’s excellent audio series-turned-TV show Uncanny. But it was actually the 2021 series Battersea Poltergeist that first ignited the comedy writer’s late career. switch. An incredibly thorough investigation into the ghostly events that took place on Wycliffe Road in the 1950s, Robbins pulls out all the stops to uncover the noises and flights that haunted the Hitchings family and made headlines for more than a decade. Provided a reasonable explanation for the object. But no matter how hard he tries, the host can’t completely dismiss the idea that something happened there that can’t be explained scientifically. And by the end of the series, you will too.

ghost church
Podcaster and comedian Jamie Loftus (known as co-host of the long-running show “The Bechdel Cast”) is an American spiritualist (a religion adjacent to Christianity defined by the belief that the dead never actually die). ) is a reliable and often hilarious guide to. This charming, funny and heartfelt series. To delve into the shaky underpinnings of spiritualism and its less comical modern aspects, Loftus ventures into Cassadaga, a small, highly insular community in Florida that has dedicated its life to communicating with spirits. I would like to interview mediums. Although she arrived with an open mind, she quickly realized that it would take a preternatural level of seriousness to keep from laughing at all the mind-bogglingly bizarre details. Ta.

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radio rental
Podcaster Payne Lindsay, who made a name for himself by investigating a series of cold cases, goes on to create a series of gruesome films that revolve around something that isn’t exactly a true crime, but is still incredibly sinister. I turned my attention to the story. After scouring forums for suitably chilling stories, from stories of her girlfriend’s doppelgänger to an evil babysitter that clearly never existed, Lindsay tracks down the posters and reveals the gruesome details of their experiences. I recorded everything. The paranormal is just one possibility in these explanations, but human evil is a far more terrifying possibility, so for once it’s often the preferable option. Oh, and if that gets a little too much, Rainn Wilson (aka Dwight from The Office US) is on hand to break the ice, serving as MC for the whole thing in the guise of video store owner Terry Carnation .

ghost in the suburbs
Wellesley, Massachusetts is a real place, but it’s not the poltergeist-filled community this podcast would have you believe. Ghosts in the Burbs does not initially appear to be a work of fiction. Our host is a seemingly real person named Liz Sower, a community member who decided to compile local ghost stories from her neighbors into a (real) blog. However, it soon becomes clear that Sour is actually narrating a sophisticated melodrama about a town plagued by paranormal activity. The tone is pleasant, and Sour and his acquaintances give off a delicious mummy vibe, but it’s also very unsettling. After a while, the host will be able to see ghosts, spirits, and demons. It’s not a skill set that will help you sleep at night.

Why not try it…

  • After Broad and Market Examines the 2003 murder of Sakia Gunn, a young, black, gay 15-year-old student in downtown Newark. Her murder galvanized LGBTQ+ activism in New Jersey.

  • in Y is importantnutritionist Alina Kuzmina and expert guests discuss a wide range of health topics, including overeating, work-life balance, and the relationship between mind and body.

  • Serpentine Podcast: Intimacy We ask how we can expand and evolve our connections with ourselves, others, and the world around us.

If you want to read the full newsletter, subscribe to receive Listen Here in your inbox every Thursday.

Source: www.theguardian.com

SumUp secures an additional €285m in funding to weather challenges in the fintech industry

summary The fintech company, which provides payments and related services to around 4 million small and medium-sized businesses in Europe, the Americas and Australia, is raising growth capital to navigate the current turbulent fintech market. The thumb-up itself is tilted and shaken.

The London-based startup with German roots has raised €285 million (just under $307 million). The company plans to use the funding to continue growing its business organically and launch more financial services, focusing on card readers and other POS tools, offering invoicing, loyalty, business accounts, and more. is. We also have our sights set on more regions beyond the 36 we currently operate in.

The company will also focus on inorganic growth, namely M&A. The latter is noteworthy. We are currently in a buyer’s market. Fintech startups are experiencing a significantly tighter funding environment, with funding declining 36% globally in the last quarter. According to S&P.

(M&A deals can check several strategic boxes. When SumUp acquired loyalty startup Fivestars in 2021, it gave it an edge in the U.S. and also brought new services to its platform.) (Introduced)

Sixth Street Growth is leading this latest round, with participation from previous backers Bain Capital Tech Opportunities, Fin Capital, and Liquidity Group. SumUp has currently raised approximately $1.5 billion. pitch book data.

Hermione McKee, who was appointed SumUp’s CFO earlier this year, described the round as “mostly equity” but declined to provide a more precise figure. He also declined to discuss SamUp’s specific valuation, but he did note that SumUp has raised 590 million euros (half equity and half debt) in 2022. He said it was more expensive than the dollar.

The company states that it has been “positive on an EBITDA basis since the fourth quarter of 2022” (note: this does not mean it is profitable). And, compared to the previous year, he has achieved “sales growth” of more than 30%.

But on the other hand, there are other signs that business is tough right now. According to SumUp, the company’s customer base is now around 4 million people, which is exactly the same number the company had two years ago.

And today’s funding news comes on the heels of several other volatile data points about the company. It was only a few months ago that Groupon revealed it was selling some of its shares at a valuation of $4.1 billion as part of a larger secondary transaction between existing shareholders. In other words, we were able to sell the company for less than half of its 2022 value.

Meanwhile, the $8.5 billion valuation from 2022 is a significant discount to the 20 billion euros ($21.5 billion) that SumUp was aiming to achieve, reflecting how difficult it would be to raise a large equity round. It highlighted that. (And in line with this, the last raise SumUp gave in August was $100 million credit facility. )

Payment technology companies in Europe and the United States also faced increased scrutiny and suffered weak performance.

PayPal and Square, two U.S.-listed companies that directly compete with SumUp, have seen their stock prices and market caps decline since 2022. (PayPal’s stock is now less than $60 a share, down from a peak of nearly $300 a share.) Square and parent company Block are trading at about 25% of their peak. ) Stripe’s valuation famously fell by almost half this year to $50 billion.

Closer to home, listed Adyen has also reported slowing growth and is in financial trouble. But as a measure of how volatile the current market is, and how desperate investors are for signs of good news, Adyen’s mere mention of a turnaround plan (a plan, not an outcome) suggests that the company’s ‘s stock price soared. 30% up.

So far, Klarna and Checkout haven’t been so lucky. Klarna’s valuation fell by around 85% during its last funding round. Checkout was valued at $40 billion when it raised $1 billion in January 2022, but that number has reportedly been lowered since then. 10 billion dollars Internally.

Now 11 years old and one of the largest private payments startups, SumUp relies on a track record of longevity as proof of its stability.

“For more than a decade, SumUp has consistently delivered sustained growth, boldly entering and leading entirely new product categories and markets,” said Nari Ansari, MD of Sixth Street Growth. said in a statement. “This … track record and culture of innovation, combined with SumUp’s thoughtful approach to growth and efficiency, aligns well with Sixth Street Growth’s investment strategy.”

Source: techcrunch.com

Enhanced Google Maps now includes additional social features for planning outings with friends

Google Maps get some new updates, includes social features designed to help people plan and collaborate with friends. The navigation platform also adds improved transit directions and emoji responses.

New social features are designed to take planning from group chats to Google Maps. The platform is updating its Lists feature to make it easier for people to share locations, make plans with friends, vote on group activities, and more. With this new feature, you can share locations in Maps with your friends, then create collaboration lists and start planning hangouts. Everyone in the group can add locations they want to visit and vote using emojis like hearts and thumbs up.

Image credits: Google

Google says the new feature will allow users to plan outings from start to finish within the Maps app. For example, you can invite your friends, make a list, and decide on all the activities you want to do this winter. Everyone can add activities that interest them, like ice skating at a specific rink or checking out the Holiday Market. Once people start voting, everyone will be able to see which activities are the most popular.

The new update will roll out globally on Android and iOS in the coming weeks.

When it comes to transportation improvements, Google Maps now makes it easy to see the best route to your destination based on factors such as ETA, number of connections, and trip length. We’ve also added the option to customize your route based on the type of transportation you want to use, or choose a route that requires minimal walking.

Plus, you’ll know exactly where the station entrances and exits are, which side of the street they’re on, and a clear walking route to and from the station. These updates will help ensure you’re on the right train in the right direction.

The transportation update will begin rolling out on Android and iOS in the coming weeks.

Google Maps also adds emoji reactions to photos, videos, and reviews. If you can’t find an emoji that sums up your feelings, you can sometimes create a mashup reaction like this: emoji kitchen. Emoji reactions begin rolling out globally today on Android and iOS.

Source: techcrunch.com

Xage Security secures an additional $20 million funding for expanding security platform

The number of cybersecurity-related financing deals reached its highest point in 2022, but that doesn’t mean the sector is underutilized. According to Statista, in the second quarter of 2023 he had 148 deals, worth a total of $1.6 billion.

And, at least anecdotally, deal flow in the third quarter also looks healthy. Case in point, Xage securitya startup that provides software that prevents network intrusions, today announced that it has raised $20 million in a B2 funding round, bringing the company’s total funding to $80 million.

Piva Capital, March Capital, SCF Partners, Overture Climate Fund, Valor Equity Partners, Chevron Technology Ventures, and Science Applications International Corporation participated in Xage’s B2. Sources familiar with the matter told TechCrunch that the pre-money valuation is about 60% higher than Xage’s pre-money as of January 2022, when the company first closed its Series B.

Geoffrey Mattson, who was appointed CEO of Xage in September, said the proceeds will be used to expand research and development and Xage’s go-to-market operations, with a focus on expanding its presence in the Asia-Pacific region.

“Despite mixed technology economics, cybersecurity attacks against critical infrastructure are on the rise, and Xage sees growing tailwinds and headwinds given the threat environment and customer needs. ,” Mattson told TechCrunch in an email interview. “With more companies operating remotely to reduce costs, it is more important than ever to provide Zero Trust security solutions for critical infrastructure and distributed operations, including operational technology, IT, and cloud environments. Yes, it is a priority.”

Xage was founded in 2016 by Susanto Irwan and Roman Arutyunov after noticing an increase in attacks on Internet of Things (IoT) devices, including devices such as surveillance cameras and temperature sensors. (This trend continues, with 41% in his first two months of 2023. Rise Average number of weekly attacks per organization targeting IoT devices compared to 2022. )

With Xage, Irwan and Artyunov can protect IoT devices and operational technology (the hardware and software used to monitor, control, and upgrade industrial systems), whether they are isolated or connected to the cloud. We have started developing a cybersecurity platform that can.

Xage’s core product sits on top of your existing environment, ostensibly without the need for network changes, either on-premises or as part of a software-as-a-service installation. Xage “monitors” device interactions and data movements and changes on a company’s network, discovering policy violations, and enforcing security policies, including invoking multi-factor authentication for system logins from unknown locations. I will do it.

Xage is not alone in the market for platforms that protect IoT and industrial systems. Dragos is probably its biggest competitor, at least on the startup side. But Xage has done well when it comes to customer acquisition, with the U.S. Space Force winning him a $17 million contract and the U.S. Air Force a $743,000 contract.

Xage’s other customers include energy, manufacturing, utilities, and transportation infrastructure operators. Mattsson claims that the startup’s revenue of about 90 employees increased by 420% year-on-year in the first half of 2023, and bookings increased by 560%.

“When the pandemic first broke out, Zarj There was a temporary pause in demand as customers tried to organize their businesses,” Mattson said. “Fortunately, Zarj Companies believe that information and data security is key to business continuity, and they have secured a comfortable runway.

Source: techcrunch.com