Latest news with #techchampion
CNA
21-05-2025
- Business
- CNA
Paris named as Europe's leading tech ecosystem, beating London
STOCKHOLM :Paris has been named as the new European tech champion, beating London for the first time on some metrics, according to data from Dealroom, which collects information on startups and venture capital firms. Between 2017 and 2024, the combined enterprise value of Paris startups increased 5.3 times, compared with 4.2 times for London, Dealroom said, after assessing dozens of metrics that contribute to a successful tech ecosystem. Although London attracted bigger funding rounds, the actual valuations of the companies have not increased dramatically, while the funding rounds secured by Paris-based companies have had a bigger impact on valuations, it said. French tech companies, including Mistral AI and Poolside, raised $7.8 billion last year, less than London's $11.3 billion. Europe has been falling behind other regions in tech innovations, with only some countries trying to boost tech investments. While the market capitalisation of global tech, media and telecom companies rose from $7 trillion in 2000 to $34 trillion last year, Europe's share dropped from 30 per cent to just 7 per cent, a McKinsey report said on Wednesday. If Europe had maintained its share, it would have generated an additional $8 trillion in market value, it said. Paris is also the only European city on Dealroom's top five global champions list, which is dominated by U.S. cities. It comes a month ahead of Paris hosting one of the largest global tech conferences, VivaTech, featuring top executives from companies such as Nvidia, Alibaba, Meta, OpenAI, Mistral, Anthropic and Cohere. Last year's conference was attended by more than 165,000 people. "It's not just about the competitiveness of Paris on the AI scene today, it's also about what will happen next and how we can keep on attracting the talent, investment, and the tech activities," Francois Bitouzet, managing director of VivaTech, told Reuters. Since coming to power in 2017, French President Emmanuel Macron has talked about wanting France to be a world leader in AI and 'deep-tech', inviting several firms to invest in the country and pushing for creation of startup incubator Station F.
Reuters
21-05-2025
- Business
- Reuters
Paris named as Europe's leading tech ecosystem, beating London
STOCKHOLM, May 21 (Reuters) - Paris has been named as the new European tech champion, beating London for the first time on some metrics, according to data from Dealroom, which collects information on startups and venture capital firms. Between 2017 and 2024, the combined enterprise value of Paris startups increased 5.3 times, compared with 4.2 times for London, Dealroom said, after assessing dozens of metrics that contribute to a successful tech ecosystem. Although London attracted bigger funding rounds, the actual valuations of the companies have not increased dramatically, while the funding rounds secured by Paris-based companies have had a bigger impact on valuations, it said. French tech companies, including Mistral AI and Poolside, raised $7.8 billion last year, less than London's $11.3 billion. Europe has been falling behind other regions in tech innovations, with only some countries trying to boost tech investments. While the market capitalisation of global tech, media and telecom companies rose from $7 trillion in 2000 to $34 trillion last year, Europe's share dropped from 30% to just 7%, a McKinsey report said on Wednesday. If Europe had maintained its share, it would have generated an additional $8 trillion in market value, it said. Paris is also the only European city on Dealroom's top five global champions list, which is dominated by U.S. cities. It comes a month ahead of Paris hosting one of the largest global tech conferences, VivaTech, featuring top executives from companies such as Nvidia (NVDA.O), opens new tab, Alibaba ( opens new tab, Meta (META.O), opens new tab, OpenAI, Mistral, Anthropic and Cohere. Last year's conference was attended by more than 165,000 people. "It's not just about the competitiveness of Paris on the AI scene today, it's also about what will happen next and how we can keep on attracting the talent, investment, and the tech activities," Francois Bitouzet, managing director of VivaTech, told Reuters. Since coming to power in 2017, French President Emmanuel Macron has talked about wanting France to be a world leader in AI and 'deep-tech', inviting several firms to invest in the country and pushing for creation of startup incubator Station F.
Yahoo
19-05-2025
- Business
- Yahoo
Prosus launches £3.4bn takeover offer for Just Eat in deal ‘milestone'
Dutch technology investor Prosus has formally launched its 4.1 billion euro (£3.4 billion) agreed takeover of Just Eat to create a European tech 'champion'. Prosus, which is majority-owned by South Africa's Naspers, has agreed to pay 20.30 euro (£17.07) a share to buy the takeaway delivery giant. The firm already owns a 28% stake in Just Eat rival Delivery Hero. Just Eat will continue to be based in Amsterdam under its current name and will maintain its key brands following the deal, the firms said. It comes after the pair provisionally agreed the deal in February amid a flurry of deals in the sector, with UK-listed Deliveroo recently announcing a £2.9 billion takeover by its US rival DoorDash. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, chief executive and founder of Just Eat said: 'The launch of the offer marks an important milestone in the transaction process. 'We are excited about the future and the opportunities this brings and recommend that our shareholders tender their shares and vote in favour of the resolutions at the upcoming extraordinary general meeting.' Fabricio Bloisi, chief executive of Prosus, added: 'Europe is at a pivotal moment to create a new generation of AI-powered tech champions, and this transaction is a unique opportunity to lead that transformation.' Prosus said it 'does not envisage material reductions in the total workforce of the Just Eat Takeaway Group' following the deal. Mr Bloisi has previously said he expects to grow the number of full-time workers Just Eat employs and its number of couriers. Shareholders in Just Just will vote on the deal at a meeting held on July 8 in Amsterdam. The planned all-cash offer comes after a difficult past few years for Amsterdam-based Just Eat, which had enjoyed booming business – and a soaring share price – during the pandemic when households were forced to eat at home, but saw trading and its stock price pare bask sharply when lockdowns ended. Prosus already has a food business spanning 70 countries, with full ownership of Latin American food delivery platform iFood, as well as the stake in Delivery Hero, a 4% holding in global food delivery giant Meituan and a 25% stake in India's recently floated food and grocery delivery platform, Swiggy. It has had its sights on Just Eat for many years, having lost out to Netherlands-based firm in the battle to buy Just Eat in early 2020. Since then, Just Eat bought US food-ordering platform Grubhub in an ill-fated deal, paying 7.3 billion US dollars (£5.8 billion) at the height of the takeaway boom in 2021, only to offload the business for 650 million dollars (£514 million) last November. Just Eat also delisted from the London Stock Exchange last December to focus on its Amsterdam listing amid cost-cutting efforts. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Independent
19-05-2025
- Business
- The Independent
Prosus launches £3.4bn takeover offer for Just Eat in deal ‘milestone'
Dutch technology investor Prosus has formally launched its 4.1 billion euro (£3.4 billion) agreed takeover of Just Eat to create a European tech 'champion'. Prosus, which is majority-owned by South Africa's Naspers, has agreed to pay 20.30 euro (£17.07) a share to buy the takeaway delivery giant. The firm already owns a 28% stake in Just Eat rival Delivery Hero. Just Eat will continue to be based in Amsterdam under its current name and will maintain its key brands following the deal, the firms said. It comes after the pair provisionally agreed the deal in February amid a flurry of deals in the sector, with UK-listed Deliveroo recently announcing a £2.9 billion takeover by its US rival DoorDash. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, chief executive and founder of Just Eat said: 'The launch of the offer marks an important milestone in the transaction process. 'We are excited about the future and the opportunities this brings and recommend that our shareholders tender their shares and vote in favour of the resolutions at the upcoming extraordinary general meeting.' Fabricio Bloisi, chief executive of Prosus, added: 'Europe is at a pivotal moment to create a new generation of AI-powered tech champions, and this transaction is a unique opportunity to lead that transformation.' Prosus said it 'does not envisage material reductions in the total workforce of the Just Eat Takeaway Group' following the deal. Mr Bloisi has previously said he expects to grow the number of full-time workers Just Eat employs and its number of couriers. Shareholders in Just Just will vote on the deal at a meeting held on July 8 in Amsterdam. The planned all-cash offer comes after a difficult past few years for Amsterdam-based Just Eat, which had enjoyed booming business – and a soaring share price – during the pandemic when households were forced to eat at home, but saw trading and its stock price pare bask sharply when lockdowns ended. Prosus already has a food business spanning 70 countries, with full ownership of Latin American food delivery platform iFood, as well as the stake in Delivery Hero, a 4% holding in global food delivery giant Meituan and a 25% stake in India's recently floated food and grocery delivery platform, Swiggy. It has had its sights on Just Eat for many years, having lost out to Netherlands-based firm in the battle to buy Just Eat in early 2020. Since then, Just Eat bought US food-ordering platform Grubhub in an ill-fated deal, paying 7.3 billion US dollars (£5.8 billion) at the height of the takeaway boom in 2021, only to offload the business for 650 million dollars (£514 million) last November. Just Eat also delisted from the London Stock Exchange last December to focus on its Amsterdam listing amid cost-cutting efforts.
Yahoo
19-05-2025
- Business
- Yahoo
Prosus launches £3.4bn takeover offer for Just Eat in deal ‘milestone'
Dutch technology investor Prosus has formally launched its 4.1 billion euro (£3.4 billion) agreed takeover of Just Eat to create a European tech 'champion'. Prosus, which is majority-owned by South Africa's Naspers, has agreed to pay 20.30 euro (£17.07) a share to buy the takeaway delivery giant. The firm already owns a 28% stake in Just Eat rival Delivery Hero. Just Eat will continue to be based in Amsterdam under its current name and will maintain its key brands following the deal, the firms said. It comes after the pair provisionally agreed the deal in February amid a flurry of deals in the sector, with UK-listed Deliveroo recently announcing a £2.9 billion takeover by its US rival DoorDash. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, chief executive and founder of Just Eat said: 'The launch of the offer marks an important milestone in the transaction process. 'We are excited about the future and the opportunities this brings and recommend that our shareholders tender their shares and vote in favour of the resolutions at the upcoming extraordinary general meeting.' Fabricio Bloisi, chief executive of Prosus, added: 'Europe is at a pivotal moment to create a new generation of AI-powered tech champions, and this transaction is a unique opportunity to lead that transformation.' Prosus said it 'does not envisage material reductions in the total workforce of the Just Eat Takeaway Group' following the deal. Mr Bloisi has previously said he expects to grow the number of full-time workers Just Eat employs and its number of couriers. Shareholders in Just Just will vote on the deal at a meeting held on July 8 in Amsterdam. The planned all-cash offer comes after a difficult past few years for Amsterdam-based Just Eat, which had enjoyed booming business – and a soaring share price – during the pandemic when households were forced to eat at home, but saw trading and its stock price pare bask sharply when lockdowns ended. Prosus already has a food business spanning 70 countries, with full ownership of Latin American food delivery platform iFood, as well as the stake in Delivery Hero, a 4% holding in global food delivery giant Meituan and a 25% stake in India's recently floated food and grocery delivery platform, Swiggy. It has had its sights on Just Eat for many years, having lost out to Netherlands-based firm in the battle to buy Just Eat in early 2020. Since then, Just Eat bought US food-ordering platform Grubhub in an ill-fated deal, paying 7.3 billion US dollars (£5.8 billion) at the height of the takeaway boom in 2021, only to offload the business for 650 million dollars (£514 million) last November. Just Eat also delisted from the London Stock Exchange last December to focus on its Amsterdam listing amid cost-cutting efforts. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
