• 2019 年：The Browser Company 在纽约成立，由 Josh Miller（前 Facebook 产品经理）等人创立。 就在刚刚，AI 浏览器 Dia 的母公司 The Browser Company 宣布，将以 6.1 亿美元全现金 被团队协作巨 头 Atlassian 收购。 交易完成后，The Browser Company 将继续独立运营，未来的重心将放在 Dia 这款新产品上。 这笔收购引发了科技圈广泛关注：为什么一家以浏览器起家的小团队，能在短短几年里卖出 6 亿美元？ 为什么 Atlassian 要豪掷重金买下他们？ 我们先简要看一下其发展时间线 • 2021 年：首款产品 Arc 浏览器 发布，凭借独特的侧边栏与卡片式设计，迅速收获一批早期用户。 • 2023 年：Arc 面向公众开放下载，成为"设计感最强的浏览器"代表作。 • 2024 年：团队推出新产品 Dia， 定位为知识工作入口工具，不再局限于浏览器，而是面向协作与信息 组织。 • 2025 年 9 月：宣布以 6.1 亿美元全现金被 Atlassian 收购，Dia 成为战略重点。 这条时间线可以看到，The ...

Dynatrace (DT) 2025 Conference September 04, 2025 10:50 AM ET Company ParticipantsFatima Boolani - MD & Co-Head US Software Equity ResearchJim Benson - CFODan Zugelder - Chief Revenue OfficerFatima BoolaniJoining us, for the Dynatrace fireside. Chad Fatima Boolani, your resident software analyst here at Citi. I'm very excited to have Jim Benson, CFO of Dynatrace, and Dan Zugulder, chief revenue officer and head of the go to market organization at Dynatrace for what I think is gonna be a really fun conversat ...

PresentationTyler RadkeVP & Senior Analyst We've crew from Autodesk here. I get a stand for this session, which is great because I'll be sitting in those chairs for about 6 hours today. So from left to right, we got Sid Haksar, VP of Construction; Mike Haley, SVP of Autodesk Research. And we all know Simon from Investor Relations. I'm going to turn it over to Simon for the most exciting part of the presentation, which is the safe harbor. ...

China Technology & Telecom Key Takeaways from Citi's 2025 China TMT Day CITI'S TAKE Citi hosted 2025 China TMT Day on Aug 28-29 and we met with 20 HK & China tech and telecom companies. Key highlights: (1) Glass cover/metal casing design change, with heat sink modules and battery casing upgrade will drive dollar content in 2H25 iPhone; (2) Foldable iPhone will likely come in 2H26 with major upgrade in UTG and hinges; (3) Android cameras continue upgrade trend periscope, OIS, variable aperture etc.); (4) Pro ...

Investor sentiment around tech stocks remains volatile as companies navigate changing market dynamics and investor expectations. Amid this backdrop, Gitlab Inc.‘s GTLB recent financial performance and strategic adjustments highlight the challenges and opportunities facing tech firms today.Shares of Gitlab fell in early trading on Thursday, even after the company reported upbeat second-quarter results.Here are some analyst takeaways.Canaccord Genuity analyst Kingsley Crane maintained a Buy rating, while redu ...

Salesforce Inc (NYSE: CRM) shares were last seen down at 7.9% to trade at 236.23, even after the company topped second-quarter estimates with $10.24 billion in revenue and earnings of $2.91 per share. Despite the impressive numbers, a lower-than-expected revenue guidance for Salesforce's next quarter is dispelling confidence. Sluggish growth despite heavy AI investment is also spelling trouble for the cloud-based blue-chip.Should CRM's losses hold, it will mark the stock's fifth drop in its last six session ...

Group 1 - Salesforce's stock dropped 8% following a disappointing revenue forecast, marking a 28% decline for 2025, the worst performance among large-cap tech companies [1] - Revenue for the fiscal second quarter increased by 10% year-over-year, reaching $10.24 billion, surpassing analyst expectations of $10.14 billion [2] - For the fiscal third quarter, Salesforce projected revenue between $10.24 billion and $10.29 billion, slightly below the analyst expectation of $10.29 billion [2] Group 2 - Despite investments in artificial intelligence and advancements in its software as a service (SaaS), Salesforce has not benefited from the AI boom as much as its tech peers, particularly those focused on infrastructure [3] - There are concerns in the market that AI advancements may negatively impact the software sector [3] - Analysts from KeyBanc Capital Markets noted that while Salesforce's current performance is impressive, it is insufficient to change the overall narrative regarding the future of SaaS [4]

PresentationExcellent. All right. Well, welcome, everyone, to Citi's 2025 Global TMT Conference Day 2. Good morning. I'm George Kurosawa, software analyst here at Citi, and I'm pleased to be joined by SPS Commerce CEO, Chad Collins; and CFO, Kim Nelson. For those in the room today who are joining us, I will leave time at the end for questions. So if there's anything we don't address, please don't be shy. To start with Chad, if you wouldn't mind giving us the SPS story, who are your customers and what do you ...

PresentationFatima BoolaniDirector & Co-Head of Software Research Welcome to Day 2 of Citi's Global TMT Conference. Very delighted to have you all here. I'm Fatima Boolani. I jointly head up our software equity research effort here at Citi, and I am so thrilled to be kicking off day 2 with the management team at Zscaler. So to my left is Founder, CEO, Jay Chaudhry; and to his left is brand new CFO, just coming to the seat, Kevin Rubin. Thank you so much. I think this is one of your first tours of duty as CF ...

Teradata (TDC) 2025 Conference Summary Company Overview - **Company**: Teradata (TDC) - **Event**: Citi Tech Conference, September 4, 2025 - **Speaker**: John Ederer, CFO Key Points Company and Industry Context - Teradata is undergoing a business model transformation towards cloud and subscription services, with a focus on AI and data modernization [5][9][10] - The software market is experiencing challenges, particularly in application sectors, but data-related services are showing healthy results [12][13] Financial Performance and Strategy - FY '24 faced challenges, but the company is stabilizing in FY '25 and setting up for growth in FY '26 and beyond [9][11] - Priorities include driving a profitable growth strategy and improving the "Rule of 40" metric, which combines growth rate and profit margin [10][11] - The company aims to achieve durable free cash flow growth, with guidance indicating flat operating margins year-over-year despite headwinds [41][42] AI and Market Trends - Increased demand for AI is reshaping the market, leading to a natural rebalancing of IT investments [14][15] - Teradata is seeing a shift in customer demand towards secure and efficient AI deployment at scale, which bodes well for its business [15][16] - The company is experiencing enthusiasm around new product announcements, such as Enterprise Vector Store and AI Factory, which are positively influencing the sales pipeline [18][19] Customer Engagement and Retention - Improved customer engagement and retention strategies are yielding better results, with a focus on early identification of risk factors [25][26] - The company has seen a reduction in migration dependence, indicating a shift towards hybrid environments where customers can invest in AI without full migration [29][30] Competitive Landscape - Teradata is positioning itself uniquely with a hybrid solution that combines on-premise and cloud capabilities, appealing to customers' needs for efficiency and scalability [62][64] - The competitive landscape includes players like Databricks and Snowflake, but Teradata's focus on hybrid solutions is seen as a differentiator [62][66] Capital Allocation and Shareholder Returns - The company is committed to returning 50% of its free cash flow to shareholders through stock buybacks, indicating confidence in its financial health [79][80] - There is a recognition of the need to balance growth opportunities with shareholder returns [79] Organizational Changes - Recent restructuring efforts have optimized the marketing organization and improved alignment between product development and sales, enhancing overall execution [40][55] - New leadership has been brought in to drive improvements in go-to-market strategies and customer engagement [54][55] Future Outlook - The company is optimistic about returning to positive growth and achieving double-digit growth in the future, driven by AI and hybrid platform opportunities [37][38] - Continued investments in product development and market strategies are essential for long-term growth and shareholder value [46][47] Additional Insights - Teradata is actively pursuing new logo opportunities in both on-premise and cloud environments, indicating a balanced approach to market expansion [72][73] - The company is leveraging AI internally to improve efficiencies, although quantifying specific savings remains challenging [51][52] This summary encapsulates the key insights and strategic directions discussed during the Teradata conference, highlighting the company's focus on growth, AI integration, and shareholder value.