Construction tech startup Procore shelves IPO

first_imgProcore CEO Craig “Tooey” Courtemanche Jr. (Credit: Boardroom Insiders, iStock)The latest coronavirus casualty is construction startup Procore, which has shelved its recent plans for an initial public offering. The news isn’t all bad for the California-based construction management software company. A private funding round has pushed its valuation to $5 billion.After filing paperwork in February for an IPO, the company completed a private funding round that raised more than $150 million, according to Bloomberg.The investors include Dan Sundheim’s investment firm, D1 Capital partners. Procore has not ruled out going public later this year if the markets stabilize, according to the report.The economic distress due to the pandemic has caused numerous companies to reassess their IPO plans. Nasdaq CEO Adena Friedman told Bloomberg TV that unaffected companies may go public at the beginning of the third quarter.Procore recorded net losses of $83.1 million in 2019 and $56.7 million in 2018, according to its March filing, on respective revenues of $289.2 million and $186.4 million.Procore counts some of New York City’s largest developers and contractors, including Brookfield Properties and Turner Construction, among its clients.In 2018, Procore raised $75 million from Tiger Global Management. Its other investors include Dragoneer Investment Group, Bessemer Venture Partners and Iconiq Capital. Last year, the firm acquired Honest Buildings, an online platform that allows landlords and developers to oversee construction and repair projects. [Bloomberg] — Georgia Kromrei  This content is for subscribers only.Subscribe Nowlast_img read more

Opinion: Yankee, divestment votes fail to put Vermonters over special interests

first_imgby Vermont Senators Richard Mazza, Robert Starr, and Peg Flory In recent years, the political winds of promised change have blown in and out of Vermont like a nor’easter. But as the dust has settled, we seem to be falling short, in some important areas, of the open, pragmatic, good governing Vermont that we all know and love. Recent issuances from Vermont’s government have overridden fiduciary responsibility and due process in favor of special interest campaigns and political gestures.For instance, in 2010 the Senate led by then-Senate Pro Tem Peter Shumlin prevented the Vermont Public Service Board from ruling on Vermont Yankee’s application to continue to operate. We three, along with then-Senator Phil Scott, alone voted to let the PSB rule. Then as now, we believed in the importance of due process.It is ironic, to say the least, that Gov. Shumlin is now invoking carbon reduction as a reason for short-cutting the due process of our pension fund investment system. For 42 years Vermont Yankee was an instate goldmine of very low-carbon electricity. We, along with Sen. Scott, also lamented the loss of more than 600 well-paying jobs, the ripple effect of that loss on the Windham County economy, and millions of dollars in local and state tax revenue.The eventual, unfortunate decision to close Vermont Yankee has now increased the state’s carbon footprint, as Vermont uses more fossil fuels for energy generation. State government officials at the time called the loss of high paying jobs and expanded tax base “hard news,” as if nothing could have been done to prevent the closure and its consequences. But this was just one of the many conscious steps taken away from Vermont’s history of good governance. Today some in state government seem too willing to do an end run around legislatively-required due process, to the detriment of the prosperity and quality of life of our people.In recent months another proposal has been laid on the table: to divest the state’s pension funds from fossil fuels, or alternatively, its limited coal and ExxonMobil assets. State Treasurer Beth Pearce and her Investment Committee have stressed again and again the millions of dollars in financial losses the state would incur, as well as the committee’s primary fiduciary responsibility to protect state retirees’ livelihood. Pearce has repeatedly called divestment a “bad practice,”saying “My first priority is to protect the 49,000 active, vested and retired members of the system, the beneficiaries, and the taxpayers who put dollars into that system.” While the proposal might have the semblance of tackling “big issues,” by making a “statement,” it sadly boils down to lost returns and nomeasurable impact of the fossil fuel industry or climate change. We need a practical approach to governance in Vermont that puts the taxpayers, retirees, employees and their families first.Vermont’s next governor must make Vermont more affordable for families and employers by building out a strong economy and raising wages. Lt. Gov. Scott’s position on Vermont Yankee and divestment embody his pragmatic approach to improving Vermont’s business climate and combating income reduction caused by state government. We ask our next governor, whomever he or she may be, to commit to such prosperity-based decision-making and pragmatic, good governance.Sen. Mazza (D) represents Colchester and Grand Isle County. Sen. Starr (D) represents Essex and Orleans County. Sen. Flory (R) represents Rutland County.February 16, 2016last_img read more

Majority of Promised Oil Pipeline Jobs to Be Temporary

first_imgiStock/Thinkstock(WASHINGTON) — President Donald Trump signed two memorandums Tuesday signaling his support for the advancement of construction on the Keystone XL and Dakota Access pipelines — two projects halted by former President Barack Obama.Obama’s move was greeted at the time with cheers from environmental advocates and Native American rights activists concerned with the pipelines’ potential impact on the environment and possible infringement upon the land and resources of Native American tribes.However, the benefits of the pipelines, Trump said, will be two-fold. First, the construction of promised “vital energy infrastructure” that will transport hundreds of thousands of barrels of oil throughout the United States each day. Second — and perhaps most notably to Trump, who made it a pledge at almost every campaign speech he gave — is jobs.“A lot of jobs, 28,000 jobs,” Trump said of the potential economic impact of the pipelines. “Great construction jobs.”Trump’s comments, however, contrast with conclusions drawn by researchers who have looked into the economic impact of the pipelines. While it is true that a large number of workers are required for construction, the jobs — and the money spent by these contractors locally — are temporary, researchers have noted, with only a small number of employees staying behind for permanent operations positions.It is unclear where Trump’s 28,000 number comes from. Dakota Access LLC and TransCanada, the companies operating and developing the two pipelines, have cited 12,000 and 42,000 jobs, respectively. A 2014 State Department report agreed with TransCanada on the Keystone XL number but in a far narrower sense.“Construction spending would support a combined total of approximately 42,100 jobs throughout the United States for the up to 2-year construction period,” the report states, but notes that approximately 26,000 of the positions would result from spending on goods and services by contractors and employees, and last only the duration of the project, up to two years.These jobs could comprise everything from fast food workers at establishments serving the communities in which construction takes place, to cashiers at local stores.Of the remaining 16,100 positions, only 3,900 (or 1,950 per year, if the construction lasts two years) would be “construction jobs,” as described by Trump, and all but 50 would be temporary, with those 50 workers engaged in the ongoing operation of the Keystone XL once it is completed.Similarly, the Dakota Access Pipeline would employ the vast majority of its workers on a temporary basis until construction is complete. The company’s calculation of 12,000 jobs also includes those indirect, non-construction roles at businesses in the region that expect an increase in activity during the short-term period of construction on the pipeline.The Brookings Institution estimates just 40 full-time permanent positions will remain upon the conclusion of construction on the DAPL.Trump said Tuesday that he also wants it to be a requirement for the materials used in the pipeline to be manufactured in the United States, possibly contributing to additional work for supporting industries.“If we are going to build pipelines in the United States, the pipes should be built in the United States,” Trump said. “We build the pipelines, we want to build the pipe, going to put a lot of workers, lot of steelworkers back to work.”However, there is currently no law that would require the domestic manufacture of such supplies and materials. And, as for-profit companies, both TransCanada and Dakota Access LLC will likely seek sources that will allow for the construction of the pipelines in the most cost-effective fashion possible.Previously, Trump himself was invested, literally, in the success of the pipeline. In his most recent financial disclosure in May 2016, the president has owned between $15,000 and $50,000 in shares of Energy Transfer Partners, the parent company of Dakota Access LLC and between $100,000 and $250,000 of Phillips 66, which has a 25 percent stake in the pipeline. Since then, both Trump and his aides have said he has sold all of his stocks, though they have not provided evidence to support the claim.Copyright © 2017, ABC Radio. All rights reserved.Powered by WPeMatico Relatedlast_img read more

Final season under starter’s orders

first_imgBy DAVID NAGEL PAKENHAM Racing Club begins its final season at the historic Racecourse Road track on Sunday with the…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.last_img

Selkirk College Saints Set for BCIHL Stretch Drive

first_imgEarlier this month the team traveled to the Lower Mainland where they took part in the BCIHL University Showcase. The Saints beat both Trinity Western and the University of Victoria, but fell 4-3 to SFU in an entertaining game that was decided in a shootout.“The showcase gave us a good opportunity to get a focused look at where we are at this point in the season,” says Heaven.“All three games featured excellent hockey and our guys showed that we can win on any given night. There were also a lot of scouts in the stands taking a look at how our players might fit into another program once they graduate from Selkirk College. Our guys certainly gave them something to think about.”The trio of Dallas Calvin, Jamie Vlanich and Ryan Edwards continue to lead the way offensively for the Saints. All three West Kootenay-raised forwards are in the top-five of league scoring, but Heaven says the team’s depth is what stands out.“It’s fun to watch these young men perform on the ice,” says Heaven.“But championship teams are not built with one line or three individual players. It’s a luxury as a coach to be able to roll four lines and know that every single player has the ability to make an important contribution each time they are out there. Most importantly, our play in our own zone has been developing well, we are fortunate to have such a strong defensive core and great goaltending.”Trinity Western currently sits third in the league, but are last season’s defending regular season champions. Heaven expects an entertaining game on Friday night.“When we played them earlier this month, it was a great battle,” says Heaven.“They have one of the top goaltenders in the league [Silas Matthy] who is able to withstand our constant attack on offence. It took a powerplay goal by Ashton McLeod midway through the third period to get the win. I’m expecting another great game and this will be an important test as we make our way to the playoffs.”The BCIHL post-season begins on the March 11-13 weekend. Friday night’s game at the Castlegar & District Recreation Centre begins at 7 p.m. The Selkirk College Saints pursuit of a fourth straight British Columbia Intercollegiate Hockey League (BCIHL) title begins in earnest Friday against the Trinity Western Spartans.With the second semester of play underway, the three-time defending league champions begin a string of five straight home games at the Castlegar & District Recreation Centre where they hope to get a firm grasp on the top seed heading into the post-season.“This team certainly has what it takes to become champions once again,” says Saints head coach Brent Heaven.“There’s still plenty of work to be done and we are going to get better, but we have put ourselves in a great position to compete with any team in this league.”The Saints currently sit one point back of Simon Fraser University (SFU) for first place in the BCIHL standings.The team is coming off a big 7-3 Saturday night win against Eastern Washington University in Cheney, Washington where the powerplay got hot with five goals on seven opportunities.last_img read more

Friday Night’s Hurling Results

first_imgIn the Senior B Hurling Championship, Beagh face Kiltormer at 5:30pm in Kenny Park, with Athenry and Tynagh Abbey Dunity in action at 6:30pm in Gort.In the Intermediate Hurling Championship, Meelick Eyrecourt throw-in against Clarinbridge at 4pm in Loughrea, followed by Ballindereen and Ahascragh Fohenagh at 5:30pm.print WhatsApp Facebook Twitter Email This Saturday in the Senior A Hurling Championship, Loughrea take on Sarsfields at Duggan Park at 6pm, followed by Portumna and Cappataggle at 7:30pm. Elsewhere at 7pm, St Thomas throw-in against Castlegar in Kenny Park. Tommy Larkins are top of Group 1 in the Senior B Hurling Championship after beating Abbeyknockmoy 1-12 to 0-12 last night. In Group 2 of the Senior B Hurling Championship Clarinbridge beat bottom-side Carnmore 1-20 to 0-12.last_img read more

Grand Forks edges LVR in WK Junior Boy’s Hoop Final

first_imgMatti Erickson added nine points for LVR.The Bombers, the second seed in the tournament, advanced to the final by stopping Salmo Falcons 47-37 in the semi-final.Nathaniel Pan and Kataoka each scored 11 points to lead LVR.LVR finishes the season with an impressive 11-2 record, capturing the J. Lloyd Crowe tournament and finishing fifth at the Fernie Falcons event.In Trail, the LVR Junior Girls lost to host Crowe Hawks by a wide margin in the West Kootenay Final.The Bombers defeated Salmo Falcons 27-15 to advance to the semi-final round.Cayanne Caney and Stine Ralfs each had seven points while Madeline Holitzki added six against the Falcons. Inconsistency around the basket proved to be the difference for the L.V. Rogers Junior Bombers at the West Kootenay High School Junior Boy’s Basketball Championships held in Grand Forks.The host Wolves secured a 48-43 victory over the Bombers in the final of the Zone Tournament.Meteo Kataoka scored 23 points to lead the Bombers offensively, connecting for 18 points from beyond the three-point arc.last_img read more

My Goals for eBook Culture

first_imgOne of my stated niches is ‘web strategy’ and I’ve written a couple of posts onthis subject. However strategy is one of those things that is better practiced ratherthan preached. I could write a whole bunch of articles on strategy, but the only way forsomeone to be credible on this topic is to execute a strategy – and preferably besuccessful at it! It’s the same for web design. If you’re going to spout theories onwebsite design, then you better make sure your personal website is spiffy andprofessional-looking. You can get away with not practicing what you preach in programming(just claim you’re an architect), in usability (ever seen Jakob Nielsen’s website?) andin Knowledge Management (in the real world KM is an oxymoron). But in design and strategyyou need to back up your theory with real-world evidence. And this is one of the reasonswhy I started a topic-focused blog.Lights, Strategy, Action!In order to explore the art of strategy, I’ve decided to openly discuss and publish mystrategy for my new topic-focused blog called eBookCulture. I’ll be doing this in a series of posts here on Read/Write Web, starting with this one. Today I’lloutline my high-level goals for eBook Culture,and in my next post I’ll review some successful examples of topic-focused blogs by otherbloggers. After that I’ll get stuck into the nitty gritty of my ongoing strategy for eBook Culture. All the while of course I’ll beimplementing my plans.btw eBook Culture is only a couple of weeksold and very much a work-in-progress. At this point I’m building up the ‘eBooks as social media’ theory, via a bunch of quickly-written posts. By itself, that’s unlikely to appeal to the masses. Pretty soon I’ll start publishing practicalthings (how-to’s and introductory articles) and introduce some basic web services.Part 1: My Personal Goals for eBook CultureSo what are my goals for eBook Culture? Wellactually they’re closely related to my goals for Read/Write Web and blogging in general. Inapproximate order of importance, here is what I want to achieve with eBook Culture:1. Explore the niche world of eBooks. I see eBooks as an extension of myread/write web philosophy, plus they combine two of my core interests: books andcomputing. Learn by Doing is a maxim that I live by, so a topic-focused blog givesme the opportunity to dive into eBooks as a specialist interest. At this point in timeI’m not an eBooks expert by any means. But as I build up the new website, I’ll learn moreand more about its sole topic – eBooks. Hopefully I’ll end up loving eBooks as much as Ilove working on the Web!2. Build up a weblog community of eBook users. I’m not looking so much at folkswho are already sold on the idea of eBooks, although it’s important I attract existingeBook experts to my site so that I earn their respect and patronage. My aim is to converta whole bunch of new people to the world of eBooks – myself among them!3. Prove to myself and future employers or customers that I’m able to successfullyimplement a web strategy and build a social media website. If I can provide eBook Culture with compelling content and useful,easy-to-use services – and along with that build up a community of people who regularlyvisit the website – then that alone would be an achievement to be proud of. But franklyit also has to benefit me – and to that end if eBook Culture achieves the above, then it’ll be avery powerful addition to my CV or portfolio.4. Earn some money and potentially grow a business. You may wonder why this isonly number 4 on my list of goals? Well actually I’d love it if I could eventually earn agood living out of eBook Culture. To achievethat though, I’d need to make some sacrifices and devote myself full-time to thisventure. I’d need to actively sell my ideas and plans to business people, a la Nick Denton. While I may well attempt this in thefuture, the time isn’t right for me to do it now. Even though I won’t be giving up myday job just yet, it is my goal to earn some money out of the site – certainlymore than the pennies I earn off Google ads at Read/Write Web. I’ll provide more detailson this when I get to the nuts and bolts of my strategy for eBook Culture.Summary of my GoalsSo my goals for eBook Culture are mainly toexplore eBooks (learn by doing), build up a community of eBook users, prove to myself andfuture employers/customers that I can successfully build a social media website, and makea few bob on the side. An ideal payoff for me would be to land a job doing the same kind of strategy / socialmedia work for an organization, or become skilled enough to offer my services as aconsultant, or use my experience as a springboard to launch other business ventures as anindependent. First I have to do it. Related Posts Why Tech Companies Need Simpler Terms of Servic… A Web Developer’s New Best Friend is the AI Wai… Tags:#web center_img richard macmanus 8 Best WordPress Hosting Solutions on the Market Top Reasons to Go With Managed WordPress Hostinglast_img read more

Movable Type 4.0 Announced – Becomes Social Media Platform

first_imgRelated Posts richard macmanus Tags:#web Six Apart is announcing today the beta release of Movable Type 4, a much anticipated upgrade to a blog platform that has two distinct user bases nowadays – consumer base (like R/WW, which uses MT) and Enterprise. Of equal interest is that Six Apart is also announcing the Movable Type Open Source Project, a move that will see the release of an open source version of Movable Type in Q3 of this year.MT4 boasts over 50 new features and “a completely redesigned user interface”, which includes a more advanced WYSIWYG editor and a system dashboard with dynamic graphic display. MT4 is also pushing itself as “a social media platform”, which allows users to turn their audiences into communities. In effect this means that readers can become members of a website, with rights to post alongside authors – including sharing photos, videos, and audio. There is also a new ratings framework and later in the beta period more community features are promised.MT4 also promises more down-to-earth functionality, like improvements in fighting blog spam. There will be a number of technical improvements, such as database caching through Memcached and authenticating of users with OpenID. MT4 also brings a new component-based architecture, which unifies its commercial and enterprise product lines “while enabling advanced capabilities with optional functionality packs”. All in all, there is a lot of new and improved functionality in MT4 (more on how this will effect bloggers like me, below).To understand why Six Apart is releasing an open source version of Movable Type, we need to briefly revisit its past. Movable Type was once the darling of the blogosphere, especially from its original launch in 2001 to about 2004 (when licensing issues upset many bloggers). Since 2004/05, many bloggers have migrated to the open source WordPress – and perhaps of more concern, a lot of third party developers transferred their efforts from MT to WordPress. However to make up for the loss of momentum in the consumer market, Movable Type began to sow some seeds in the Enterprise market. Back in October 2006 Read/WriteWeb reported on the release of Movable Type Enterprise 1.5. Movable Type at that point was being positioned as an advanced tool, suitable for enterprises and power bloggers alike. What’s changed since then is that it now wants to be a social media platform, and the open sourcing will address some market concerns over licensing.What MT4 will bring to current Movable Type usersRead/WriteWeb is powered by Movable Type. It’s held up well over the years, particularly as the site has scaled a lot over the past 1-2 years. I do however have some minor issues with MT (and note we are using MT 3.2 currently, so we’re not using the most recent version). The first is that I have looked on rather enviously at some of the plug-ins available to WordPress users. For example, outputting tags for posts, integrating comments and trackbacks, and listing “related entries” – these things are a lot harder with MT than it is with WordPress. In chatting with Anil Dash from Six Apart tonight, he assured me that almost all of the top 10 or 15 MT plugins have been integrated into MT4. This would certainly make things easier for me, as I am not a fan of fiddling around with Perl (when I could be writing blog posts with that time).Another of my current peeves is that comments are far too slow on R/WW currently. I haven’t been able to pinpoint the exact cause of this, but I am almost certain it’s an MT issue (as my research has indicated other MT blogs have suffered similar problems with slow comments). Anil told me that there are a lot of scaling pieces that are new in 4.0, that come from Vox and LiveJournal and Typepad – and from that they’ve learned to handle commenting from tens of milions of users. It sounds like relief may be on the way for R/WW’s commenters then!ConclusionIt remains to be seen how the open source effort will be received by the blogging public, but certainly MT4 sounds like a big functionality and performance improvement over MT3. For purely selfish reasons I hope it can fix all the minor technical issues R/WW has had with scaling, but also of course it will be a huge boost for Six Apart if MT4 has indeed ramped up technically and can meet the needs of small businesses (like mine) and enterprises alike. The social media platform is exciting too, and I can certainly see ways R/WW can leverage that!Here are some early screenshots. Let us know in the comments what you think of MT4. Why Tech Companies Need Simpler Terms of Servic…center_img 8 Best WordPress Hosting Solutions on the Market A Web Developer’s New Best Friend is the AI Wai… Top Reasons to Go With Managed WordPress Hostinglast_img read more

Another Facebook Success Story: TravBuddy Hits 1 Million Users

first_imgjosh catone 1 Anecdotal evidence suggests that the largest apps on Facebook are starting to make money from advertising, and TravBuddy is already operating on a mostly advertising supported business model. There is no reason they can’t try to monetize their Facebook users on Facebook in a similar way. Further, the barrier for entry is so low for Facebook applications that even if they aren’t capturing a ton of users from their app, it is likely still worth it.Further, the site is very active. Every time I visited TravBuddy today, there was new content that had been submitted from users within the past 10 minutes, and it seems like a very loyal user base has grown up around the site over the past two years.TravBuddy’s Facebook app is in direct competition with the Where I’ve Been application that last week made the jump to MySpace. Where I’ve Been is much more popular on Facebook than TravBuddy (with about 5 times as many users), but on MySpace it is TravBuddy that has the head start. Their MySpace widget has been around since last December. Tags:#web 8 Best WordPress Hosting Solutions on the Market Top Reasons to Go With Managed WordPress Hosting Why Tech Companies Need Simpler Terms of Servic… A Web Developer’s New Best Friend is the AI Wai… Related Posts Today TravBuddy, a social network built around travel, announced that it has hit the one million user mark. The network was launched in 2005, but over the past six months has seen its membership grow 100 fold. Why the big increase? One reason is clear: Facebook.In May, TravBuddy launched an a Facebook app called the TravBuddy.com Countries Visited Map, which lets users put a flash map on their profiles displaying which countries they’ve visited. The app has just under 500,000 users, all of which have signed up for an account on TravBuddy as well.TravBuddy’s Facebook app ranks 4th for most active users among applications in the travel section with nearly 10,000 users logging in daily. But does that activity on Facebook translate to activity on the TravBuddy web site? Or does it even matter?It’s hard to tell if TravBuddy’s Facebook users are making the jump to the site itself, but my money is that most of them aren’t. Of the site’s 1 million users, just 13,000 travel blogs have been posted, and just 1 photo has been uploaded to the site for every 3 users. To me, that suggests that most of those Facebook users are staying strictly users of the Facebook widget. But that may not matter.last_img read more