Technology
Tempus is up 15% on its first day of trading, demonstrating investor appetite for health tech with the promise of artificial intelligence
Tempus, a genomic testing and data analytics company founded by Eric Lefkosky, who previously founded Groupon, debuted on the Nasdaq Stock Exchange on Friday, up about 15% since opening.
On Thursday, the company priced its initial public offering at $37 apiece, the top of the $35 to $37 price range, raising almost $411 million at a completely diluted valuation of over $6 billion. However, Tempus’ last official private valuation was $8.1 billion, and PitchBook data estimates the company was valued at $10.25 billion at the end of 2022. The shares closed the first day of trading at $40.25, a rise of almost 9% over the IPO price.
Despite a big discount to the previous valuation, the initial public offering is a feat for an unprofitable company in a period considered not very favorable for conducting public offerings. Tempus’ 2023 revenues were $531 million and its net loss was $290 million. However, the company’s operating losses dropped from 83% in 2022 to 37% in 2023, and Lefkosky told CNBC that he expects Tempus to be money flow and EBITDA positive in 2025.
Lefkofsky founded Tempus in 2015 after noticing that doctors weren’t relying on data when treating his wife’s breast cancer. He decided to construct an organization using the technology and data from genome sequencing.
Tempus is currently struggling to position itself as an artificial intelligence company, regardless that AI revenue accounted for just $5.5 million in revenue, or about 1% of its revenue in 2023. In its prospectus, the company said its AI product line it’s still in its infancy, but it surely intends to “embed artificial intelligence, including generative artificial intelligence,” into every aspect of its diagnostic tools.
Lefkofsky is by far the company’s largest shareholder. According to S1, he holds 30.1% of the company’s shares and 65% of shareholder votes, resulting from the dual-class share structure. The company, controlled by Kimberley Keywell, the ex-wife of Brad Keywell, Lefkosfky’s longtime business partner, owns 10.2% of Tempus. Scottish asset manager Baillie Gifford owns a 5.9% stake in the company, value $350 million at its IPO price.
The original shareholders of Tempus were NEA, Revolution and T. Rowe Price. In April, the company raised a $200 million G5 series from SoftBank. Tempus is the fourth company that Lefkofsky is taking public. He is best known for founding Groupon, which went public at a valuation almost $13 billion in 2011but it surely is currently valued at lower than $600 million.
Tempus is the fourth company that Lefkofsky is taking public. He is best known for founding Groupon, which went public at a valuation almost $13 billion in 2011but it surely is currently valued at lower than $600 million.
Technology
US medical device giant Artivion says hackers stole files during a cybersecurity incident
Artivion, a medical device company that produces implantable tissue for heart and vascular transplants, says its services have been “disrupted” resulting from a cybersecurity incident.
In 8-K filing In an interview with the SEC on Monday, Georgia-based Artivion, formerly CryoLife, said it became aware of a “cybersecurity incident” that involved the “compromise and encryption” of information on November 21. This suggests that the corporate was attacked by ransomware, but Artivion has not yet confirmed the character of the incident and didn’t immediately reply to TechCrunch’s questions. No major ransomware group has yet claimed responsibility for the attack.
Artivion said it took some systems offline in response to the cyberattack, which the corporate said caused “disruptions to certain ordering and shipping processes.”
Artivion, which reported third-quarter revenue of $95.8 million, said it didn’t expect the incident to have a material impact on the corporate’s funds.
Technology
It’s a Raspberry Pi 5 in a keyboard and it’s called Raspberry Pi 500
Manufacturer of single-board computers Raspberry Pi is updating its cute little computer keyboard device with higher specs. Named Raspberry Pi500This successor to the Raspberry Pi 400 is just as powerful as the present Raspberry Pi flagship, the Raspberry Pi 5. It is on the market for purchase now from Raspberry Pi resellers.
The Raspberry Pi 500 is the simplest method to start with the Raspberry Pi because it’s not as intimidating because the Raspberry Pi 5. When you take a look at the Raspberry Pi 500, you do not see any chipsets or PCBs (printed circuit boards). The Raspberry Pi is totally hidden in the familiar housing, the keyboard.
The idea with the Raspberry Pi 500 is you could connect a mouse and a display and you are able to go. If, for instance, you’ve got a relative who uses a very outdated computer with an outdated version of Windows, the Raspberry Pi 500 can easily replace the old PC tower for many computing tasks.
More importantly, this device brings us back to the roots of the Raspberry Pi. Raspberry Pi computers were originally intended for educational applications. Over time, technology enthusiasts and industrial customers began using single-board computers all over the place. (For example, when you’ve ever been to London Heathrow Airport, all of the departures and arrivals boards are there powered by Raspberry Pi.)
Raspberry Pi 500 draws inspiration from the roots of the Raspberry Pi Foundation, a non-profit organization. It’s the right first computer for college. In some ways, it’s a lot better than a Chromebook or iPad because it’s low cost and highly customizable, which inspires creative pondering.
The Raspberry Pi 500 comes with a 32GB SD card that comes pre-installed with Raspberry Pi OS, a Debian-based Linux distribution. It costs $90, which is a slight ($20) price increase over the Raspberry Pi 400.
Only UK and US keyboard variants will probably be available at launch. But versions with French, German, Italian, Japanese, Nordic and Spanish keyboard layouts will probably be available soon. And when you’re in search of a bundle that features all the things you would like, Raspberry Pi also offers a $120 desktop kit that features the Raspberry Pi 500, a mouse, a 27W USB-C power adapter, and a micro-HDMI to HDMI cable.
In other news, Raspberry Pi has announced one other recent thing: the Raspberry Pi monitor. It is a 15.6-inch 1080p monitor that’s priced at $100. Since there are quite a few 1080p portable monitors available on the market, this launch is not as noteworthy because the Pi 500. However, for die-hard Pi fans, there’s now also a Raspberry Pi-branded monitor option available.
Technology
Apple Vision Pro may add support for PlayStation VR controllers
According to Apple, Apple desires to make its Vision Pro mixed reality device more attractive for gamers and game developers latest report from Bloomberg’s Mark Gurman.
The Vision Pro was presented more as a productivity and media consumption device than a tool geared toward gamers, due partly to its reliance on visual and hand controls moderately than a separate controller.
However, Apple may need gamers if it desires to expand the Vision Pro’s audience, especially since Gurman reports that lower than half one million units have been sold to this point. As such, the corporate has reportedly been in talks with Sony about adding support for PlayStation VR2 handheld controllers, and has also talked to developers about whether they may support the controllers of their games.
Offering more precise control, Apple may also make other forms of software available in Vision Pro, reminiscent of Final Cut Pro or Adobe Photoshop.
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