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Dutch payments company Adyen opens at €400/share, a pop of 67%, now valued at $16B

After raising €1.1 billion in its initial offering and pricing its shares at €240 each last night, Adyen , the Dutch payments company, went public today with a bang. It  opened for trading this morning on Amsterdam’s Euronext exchange at €400 a share, an impressive jump of 67 percent. The share price closed at €462.50 — over 92 percent up on its price last night —  giving it a market cap of over €13.6 billion, or $16 billion at current exchange rates. It’s gone as high as €503.90 today. The number moved between about €15 billion and €16 billion throughout the day. This all represents a big jump on Adyen’s valuation. In a statement  last night announcing its initial offer price of €240 per share, Adyen said the figure implied a market capitalization of €7.1 billion, based on the current number of Shares outstanding. The writing may have been on the wall for its strong performance this morning even then. Adyen said yesterday that the offering  was “multiple times oversubscribed… with strong demand from institutional investors globally.” Adyen is selling between 12 percent and 13.4 percent of its issued and outstanding shares, the latter figure representing i f the over-allotment option is exercised in full. Adyen’s strong performance underscores both the strength for tech IPOs at the moment, as well as the strength of Adyen’s payment story specifically. For the year ended December 31, 2017, Adyan generated net revenue of €218 million, a rise of 38 percent over the year before. Perhaps more importantly (when you compare it to other payment startups that have recently gone public, such as Square) it is profitable. Adyen last year had an EBITDA of €99 million, giving it an EBITDA margin of 45.5 percent. Signs are pointing to more growth, too. The company counts fast-growing tech companies like Uber and Netflix among its customers, and earlier this year it picked up a key client in the form of eBay , which is swapping in Adyen instead of spun-out business PayPal as its primary payment provider.

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Apple unveils new screen time controls for children

Apple this morning announced a new set of parental controls for iOS devices at its WorldWide Developer Conference this morning in San Jose. The company had already acknowledged back in January that it had new, more robust parental control features in the works, following an open letter posted by two large Apple shareholder groups, Jana Partners LLC and the California State Teachers’ Retirement System. The letter from the influential, activist shareholders mentioned recent research from child development experts whose studies have found links between the use of electronic devices by kids, and negative effects on concentration, emotional health, sleep and empathy. One study even found a link between time spent on devices and teen suicide, with teens who spent three or more hours per day on devices at higher risk than those who used them for an hour or less. In addition, the letter argued that managing children’s device usage isn’t just the parents’ responsibility alone – they also need help from tech companies on the matter. The shareholders suggested Apple task an executive to focus on these digital wellbeing features aimed at children and parents, and include new setup menus in Apple software that better allow parents to tailor the functionality of the device to the child’s specific ages. Apple responded by saying updated parental controls were coming, and it rolled out a “Families” page on its website with educational materials for parents. The company today unveiled for the first time what these new controls would look like, and how they work. Now, there’s a new activity report for parents and kids that shows how much time is spent using the device and the apps, and parents will have the option of creating screen time allowances for kids. Another “downtime” option will help kids to unplug, and parents can limit app usage by category or individual whitelisted apps.

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Looks like macOS 10.14 will have a new dark mode and an Apple News app

Apple’s Worldwide Developers Conference is just a couple of days away , but some of the updates appear to have been revealed early. Specifically, developer Steve Troughton-Smith tweeted some screenshots this morning of what he said was macOS 10.14. And while the screenshots focused on Xcode 10, they also revealed a couple of bigger changes to the operating system. For one thing, it looks like the new version of macOS will include a more comprehensive dark mode — one that doesn’t just darken the menu bar and the dock, but applies much more broadly, affecting apps and even the Trash can . The screenshots also include an icon for Apple News in the dock, so there’s probably a new desktop version of the app on the way. Ladies and gentlemen, I give you Xcode 10 on macOS 10.14. Dark Appearance, Apple News, App Store w/ video previews pic.twitter.com/rJlDy81W4W — Steve Troughton-Smith (@stroughtonsmith) June 2, 2018 How did Troughton-Smith get ahold of these screenshots? He said Apple posted a preview video for Xcode to the Mac App Store API — a video he then shared with 9to5Mac . So it seems the Mac App Store will start include preview videos like this one (the iOS App Store already does). Ahead of WWDC, there have been rumors that Apple will launch “universal” apps that work on both desktop and mobile. Nothing here confirms that, but it does suggest Apple is working to make iOS and macOS — and their respective App Stores — more similar.

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Facebook mistakes Kentucky woman for a Westworld bot

PSA: Don’t use a popular brand name for your online accounts. Facebook’s social media team accidentally directed users to the Messenger account of a random Facebook user this morning, instead of the new HBO Westworld Messenger account it was trying to promote. On Twitter, the Messenger account instructed followers to chat with “Tes, the host of the new @WestworldHBO experience on Messenger” and linked to the Messenger account, messenger.com/t/westworld. One small problem: “Westworld” was a Kentucky woman named Lisa, not an account run by HBO. The mistake was first spotted by Matt Navarra, who wondered if Lisa was about to get an inbox slammed with messages. Facebook Messenger about to destroy the inbox of a random women from Kentucky? They sent this tweet about Westworld, but the link takes you to a regular FB user called Lisa… Not a Westworld bot?! Oops! pic.twitter.com/gg8u4PfOIP — Matt Navarra (@MattNavarra) May 29, 2018 The tweet was up for a couple of hours before the mistake was realized. As a result, Lisa received a small handful of messages – around 20, she says. Facebook’s messaging system filtered these as “message requests,” which is how it handles unsolicited chat requests. Fortunately, the headache was minimal for the unintended recipient as she was able to just decline the incoming requests without having to respond. Lisa says Facebook also reached out to her to apologize, and it corrected the link. She has a sense of humor about the whole thing, as well

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Pluralsight pops more than 30% in its public debut

Pluralsight is having a pretty good day in its debut as a public company, with its shares popping more than 30% after its first trade following its IPO. There’ll be a little bit of debate as to whether Pluralsight might have left some money on the table in its IPO after raising its price last night above its original target range. After looking at a range between $12 and $14 per share, the company settled on $15 in an IPO that would raise as much as $357 including additional shares offered to underwriters. But the significant pop this morning suggests that there is both a lot of demand for the company, and also that it could have potentially captured more capital in its IPO. Still, Pluralsight will be considered a pretty successful one this morning, much like zScalar and Dropbox before it. Pluralsight, like many other enterprise-focused companies, offers investors an opportunity to tap a business model that can grow more consistently and methodically than a consumer company subject to the whims of fickle consumers. While Dropbox has more of a hybrid model, it was considered a substantially successful enterprise IPO, as was zScalar and others earlier this year. Pluralsight offers companies a way to run courses that help their employees pick up new software engineering skills. That’s important for larger companies that can have a sprawling employee base, offering them an opportunity to find talent in their own workforces that might be missing a few skills instead of having to look out in a very competitive landscape. That minted another successful unicorn startup in the Utah tech scene, and now the company is going to potentially offer a nice return for its investors and an opportunity for investors with some appetite for risky early IPOs . The company launched in 2004 and was largely bootstrapped until its first financing round in 2013, and raised nearly $200 million total prior to going public. Having a successful IPO like this one is also going to have the ancillary effect of keeping up morale at the company, as well as attracting talent with generous compensation packages. Pluralsight can point to the pop in its IPO and ongoing performance as a public barometer of its success, and the interest Wall Street has in it going forward as a good investment.

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