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58.com Reports Second Quarter 2014 Unaudited Financial Results

BEIJING, Aug. 20, 2014 /PRNewswire/ -- 58.com Inc. (NYSE: WUBA) ("58.com" or the "Company"), China's largest online marketplace serving local merchants and consumers, today reported its unaudited financial results for the second quarter ended June 30, 2014.

Second Quarter 2014 Financial Highlights

  • Total revenues were US$64.6 million, an 83.9% increase from the same period last year; exceeding guidance of US$61 million to US$63 million.
  • Gross margin was 94.7%, compared with 93.9% during the same quarter of 2013.
  • Net income was US$11.2 million, a 125.6% increase from the same period last year.
  • Basic and diluted earnings per ADS attributable to ordinary shareholders were US$0.14 and US$0.13, respectively, compared to basic and diluted earnings per ADS attributable to ordinary shareholders of US$0.03 in the same quarter of 2013. One ADS represents two Class A ordinary shares.
  • Non-GAAP net income[1] was US$12.4 million, compared with non-GAAP net income of US$5.5 million in the same quarter of 2013.
  • Non-GAAP basic and diluted earnings per ADS[2] attributable to ordinary shareholders were US$0.15 compared to non-GAAP basic and diluted earnings per ADS attributable to ordinary shareholders of US$0.06 in the same quarter of 2013.

[1] Non-GAAP net income is defined as net income excluding share-based compensation expenses. For more information on these non-GAAP financial measures, please see the section captioned "Non-GAAP Financial Measures" and the tables captioned "Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this release.

[2] Non-GAAP basic and diluted earnings per ADS is defined as non-GAAP net income divided by weighted average number of basic and diluted ADS.

First Half 2014 Financial Highlights

  • Total revenues were US$112.8 million, a 91.7% increase from the same period last year.
  • Gross margin was 94.8%, compared with 93.0% in the same period of 2013.
  • Net income increased significantly to US$13.5 million from US$0.3 million in the same period of 2013.
  • Basic and diluted earnings per ADS attributable to ordinary shareholders were US$0.17 and US$0.16, respectively, compared to basic and diluted loss per ADS attributable to ordinary shareholders of US$0.23 in the same period of 2013.
  • Non-GAAP net income was US$15.8 million, compared with non-GAAP net income of US$1.4 million in the same period of 2013.
  • Non-GAAP basic and diluted earnings per ADS attributable to ordinary shareholders were US$0.20 and US$0.19, respectively, compared to non-GAAP basic and diluted loss per ADS attributable to ordinary shareholders of US$0.18 in the same period of 2013.

Shares Outstanding Post Tencent Investment and Share Repurchase

On June 30, 2014, Tencent Holdings Limited, a leading provider of comprehensive Internet services in China purchased 36,805,000 ordinary shares from the Company at a purchase price of US$40 per ADS, or a total cash consideration of US$736.1 million. The Company used part of the proceeds from this transaction to repurchase an aggregate of 27,603,750 ordinary shares from existing pre-IPO shareholders. After this transaction, the Company had a total of 175,207,179 ordinary shares issued and outstanding as of June 30, 2014. The Company used weighted average ADSs or ordinary shares to calculate earnings per ADS and earnings per share.

Management Comments

"I am pleased to report another record setting quarter as our business continues to gain strong momentum," commented Mr. Michael Yao, Chairman and Chief Executive Officer of 58.com. "Our overall traffic increased to record high levels. Mobile traffic continued to grow at a much faster pace than PC traffic, with 54% of traffic coming from our mobile platforms demonstrating the traction we are gaining. While we continue to be the leading player in China's multi-category local services market, we need to invest aggressively now to strengthen our competitive advantages in order to extend our lead and ensure future sustainable growth."

Mr. Hao Zhou, Chief Financial Officer of 58.com added, "Our revenues exceeded the high end of our guidance for the third consecutive quarter since our IPO. The number of subscription-based paying merchant members during the second quarter of 2014 exceeded 500,000 for the first time. However, it is still less than 10% of the merchants that use our platform and is an even smaller fraction of the SME merchants population in China. Our profitability and cash position give us more power to re-invest in growing our business, including M&A activities to further expand market share."

Second Quarter 2014 Financial Results

Revenues

Total revenues were US$64.6 million, representing an increase of 83.9% from US$35.1 million in the same quarter of 2013.

Membership revenues were US$35.1 million, an increase of 70.6% from US$20.6 million in the same quarter of 2013. The increase was primarily driven by the increase in the number of paying merchant members. The number of paying merchant members during the second quarter of 2014 was approximately 510,000, an increase of 71.1% from 298,000 in the same quarter of 2013. Paying merchant members are defined as the quarterly average number of paying merchant members over a given period.

Online marketing services revenues were US$29.3 million, an increase of 107.7% from US$14.1 million in the same quarter of 2013. The increase in online marketing services revenues was primarily attributable to an increase in user traffic and the effectiveness of the Company's online marketing services, particularly growth in the Company's bidding services.  

Cost of Revenues

Cost of revenues was US$3.4 million, an increase of 58.4% from US$2.1 million during the same quarter of 2013. The year-over-year increase in cost of revenues was primarily driven by the increase in short message service (SMS) costs and bandwidth fees.

Gross Profit and Gross Margin

Gross profit was US$61.2 million, an increase of 85.5% from US$33.0 million during the same quarter of 2013.

Gross margin was 94.7%, compared with 93.9% during the same quarter of 2013.

Operating Expenses

Operating expenses were US$53.9 million, representing an increase of 89.2% from US$28.5 million in the same quarter of 2013.

Sales and marketing expenses in the second quarter of 2014 were US$40.3 million, an increase of 106.6% from US$19.5 million during the same quarter in 2013. Within sales and marketing expenses, advertising expenses accounted for US$16.5 million and US$4.5 million during the second quarter of 2014 and 2013, respectively. The increase in advertising expenses was primarily due to expenses associated with the marketing of the Company's mobile platforms. Brand and online marketing expenses also increased, but to a lesser degree. The increase in other sales and marketing expenses was primarily driven by increased commissions, salaries and benefits for the Company's sales and customer service teams.

Research and development expenses during the second quarter of 2014 were US$9.5 million, an increase of 56.9% year-over-year from US$6.1 million in the same quarter of 2013. The increase was primarily due to increased personnel costs as a result of hiring additional research and development personnel for the development of new features and services as well as share-based compensation and increased rental expenses.

General and administrative expenses in the second quarter of 2014 were US$4.1 million, an increase of 39.5% from US$2.9 million in the same quarter of 2013. The increase was primarily driven by increased share-based compensation expenses, professional fees and other administrative related expenses. The increase in professional fees was mainly due to costs associated with being a public company.

Income from Operations

Income from operations was US$7.3 million in the second quarter of 2014 compared with an income from operations of US$4.5 million in the same quarter of 2013. Operating margin was 11.3% in the second quarter of 2014, compared with 12.8% in the same quarter of 2013.

Non-GAAP income from operations[3] was US$8.5 million in the second quarter of 2014 compared with non-GAAP income from operations of US$5.1 million in the same quarter of 2013. Non-GAAP operating margin was 13.2% in the second quarter of 2014 compared with non-GAAP operating margin of 14.4% in the same quarter of 2013.

[3] Non-GAAP income from operations is defined as income from operations excluding share-based compensation expenses.

Other Income

Other income in the second quarter of 2014 was US$5.6 million, a significant increase from US$0.5 million in the same quarter of 2013. The increase was primarily due to an increase of US$1.9 million in interest income, US$1.2 million in investment income and US$1.8 million in government grants compared with the second quarter of 2013.

Income Tax Expenses

Income tax expenses were US$1.7 million in the second quarter of 2014, which were calculated using the annual effective tax rate of 13% for 2014 estimated by the Company. The difference between the statutory tax rate of 25% in China and the Company's annual effective tax rate is mainly attributable to the preferential tax rate of 15% enjoyed by subsidiaries qualified as "high and new technology enterprises," research and development tax credits and net losses carried forward from prior years.

Net Income

Net income was US$11.2 million in the second quarter of 2014, compared with a net income of US$5.0 million in the same quarter of 2013. Net margin was 17.3% in the second quarter of 2014, compared with 14.1% in the same quarter of 2013.

Non-GAAP net income was US$12.4 million in the second quarter of 2014, compared with non-GAAP net income of US$5.5 million in the same quarter of 2013. Non-GAAP net margin was 19.2% in the second quarter of 2014, compared with non-GAAP net margin of 15.7% in the same quarter of 2013.

Basic and Diluted Earnings per ADS 

Basic and diluted earnings per ADS attributable to ordinary shareholders in the second quarter of 2014 were US$0.14 and US$0.13, respectively, compared with basic and diluted earnings per ADS attributable to ordinary shareholders of US$0.03 during the same quarter of 2013.

Non-GAAP basic and diluted earnings per ADS attributable to ordinary shareholders in the second quarter of 2014 were US$0.15, compared with basic and diluted earnings per ADS attributable to ordinary shareholders of US$0.06 during the same quarter of 2013.

Cash, Cash Equivalents, Term Deposits and Short-term Investments

As of June 30, 2014, the Company had cash, cash equivalents, term deposits and short-term investments of US$414.3 million.

Cash Flow

Net cash provided by operating activities was US$22.2 million in the second quarter of 2014, compared with US$13.5 million in the same quarter of 2013.

First Half 2014 Financial Results

Revenues

Total revenues were US$112.8 million in the first half of 2014, representing an increase of 91.7% from US$58.8 million in the same period of 2013.

Membership revenues were US$62.6 million in the first half of 2014, an increase of 76.6% from US$35.5 million in the same period of 2013. The increase was primarily driven by the increase in the number of paying merchant members. The number of average quarterly paying merchant members during the first half of 2014 was approximately 476,000, an increase of 74.4% from 273,000 in the same period of 2013.

Online marketing services revenues were US$49.8 million in the first half of 2014, an increase of 122.2% from US$22.4 million in the same period of 2013.

Cost of Revenues

Cost of revenues was US$5.8 million in the first half of 2014, an increase of 42.5% from US$4.1 million during the same period of 2013.

Gross Profit and Gross Margin

Gross profit was US$107.0 million in the first half of 2014, an increase of 95.4% from US$54.7 million during the same period of 2013.

Gross margin was 94.8% in the first half of 2014, compared with 93.0% during the same period of 2013.

Operating Expenses

Operating expenses were US$98.0 million in the first half of 2014, representing an increase of 76.9% from US$55.4 million in the same period of 2013.

Sales and marketing expenses in the first half of 2014 were US$72.4 million, an increase of 90.1% from US$38.1 million during the same period in 2013. Within sales and marketing expenses, advertising expenses accounted for US$29.1 million and US$10.3 million during the first half of 2014 and 2013, respectively.

Research and development expenses during the first half of 2014 were US$17.3 million, an increase of 45.6% year-over-year from US$11.9 million in the first half of 2013.

General and administrative expenses in the first half of 2014 were US$8.3 million, an increase of 52.8% from US$5.5 million in the first half of 2013.

Income from Operations

Income from operations was US$9.0 million in the first half of 2014, compared with a loss from operations of US$0.7 million in the same period of 2013. Operating margin was 7.9% in the first half of 2014, compared with negative 1.1% in the same period of 2013.

Non-GAAP income from operations was US$11.3 million in the first half of 2014 compared with non-GAAP income from operations of US$0.5 million in the first half of 2013. Non-GAAP operating margin was 9.9% in the first half of 2014 compared with non-GAAP operating margin of 0.8% in the same period of 2013.

Other Income

Other income in the first half of 2014 was US$6.5 million, an increase of 597.7% from US$0.9 million in the first half of 2013. The increase was primarily due to the increase in interest income, investment income and government grants, partly offset by foreign currency exchange loss in the first half of 2014.

Income Tax Expenses

Income tax expenses were US$2.0 million in the first half of 2014, which were calculated using the annual effective tax rate of 13% for 2014 estimated by the Company.

Net Income

Net income was US$13.5 million in the first half of 2014, compared with a net income of US$0.3 million in the same period of 2013. Net margin was 12.0% in the first half of 2014, compared with 0.5% in the same period of 2013.

Non-GAAP net income was US$15.8 million in the first half of 2014, compared with non-GAAP net income of US$1.4 million in the same period of 2013. Non-GAAP net margin was 14.0% in the first half of 2014, compared with non-GAAP net margin of 2.4% in the same period of 2013.

Basic and Diluted Earnings per ADS 

Basic and diluted earnings per ADS attributable to ordinary shareholders in the first half of 2014 were US$0.17 and US$0.16, respectively, compared with basic and diluted loss per ADS attributable to ordinary shareholders of US$0.23 during the same period of 2013.

Non-GAAP basic and diluted earnings per ADS attributable to ordinary shareholders in the first half of 2014 were US$0.20 and US$0.19, respectively, compared with basic and diluted loss per ADS attributable to ordinary shareholders of US$0.18 during the same period of 2013.

Cash Flow

Net cash provided by operating activities was US$40.2 million in the first half of 2014, compared with US$17.9 million in the same period of 2013.

Business Outlook

Based on the Company's current operations, total revenues for the third quarter of 2014 are expected to be between US$66 million and US$68 million, representing a year-over-year increase of 59% to 63%. These estimates reflect the Company's current and preliminary view, which is subject to change.

Non-GAAP Financial Measures

To supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or GAAP, this press release presents non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net margin and non-GAAP basic and diluted earnings per share and per ADS by excluding share-based compensation expenses from income from operations and net income attributable to the Company's shareholders, respectively.  The Company believes these non-GAAP financial measures are important to help investors understand the Company's operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess the Company's core operating results, as they exclude certain expenses that are not expected to result in cash payments.  The use of the above non-GAAP financial measures has certain limitations.  Share-based compensation expenses have been and will continue to be incurred in the future and are not reflected in the presentation of the non-GAAP financial measures, but should be considered in the overall evaluation of the Company's results.  The Company compensates for these limitations by providing the relevant disclosure of its share-based compensation expenses in the reconciliations to the most directly comparable GAAP financial measures, which should be considered when evaluating the Company's performance. These non-GAAP financial measures should be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP.  Reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measure is set forth at the end of this release.

Conference Call

58.com's management will host an earnings conference call on Thursday, August 21, 2014 at 8:00 a.m. U.S. Eastern Daylight Time (8:00 p.m. Beijing / Hong Kong the same day).

Dial-in details for the earnings conference call are as follows:

International:

+1-412-317-0790



U.S. Toll Free:

+1-877-870-4263



Hong Kong:

800-905945



China:

4001-201203



Passcode:

WUBA






Please dial in 15 minutes before the call is scheduled to begin and provide the passcode to join the call.

A telephone replay of the call will be available after the conclusion of the conference call through 8:00 a.m. U.S. Eastern Daylight Time, August 28, 2014. The dial-in details for the replay are as follows:

International:

+1-412-317-0088


U.S. Toll Free:

+1-877-344-7529


Passcode:

10051011






Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of 58.com's website at http://www.58.com

About 58.com Inc.

58.com Inc. (NYSE: WUBA) operates China's largest online marketplace serving local merchants and consumers, as measured by monthly unique visitors on both its www.58.com website and mobile applications. The Company's online marketplace enables local merchants and consumers to connect, share information and conduct business. 58.com's broad, in-depth and high quality local information, combined with its easy-to-use website and mobile applications, has made it a trusted marketplace for consumers. 58.com's strong brand recognition, large and growing user base, merchant network and massive database of local information create a powerful network effect. For more information on 58.com, please visit http://www.58.com.   

Safe Harbor Statements

This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. 58.com may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about 58.com's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: 58.com's goals and strategies; its future business development, financial condition and results of operations; its ability to retain and grow its user base and network of local merchants for its online marketplace; the growth of, and trends in, the markets for its services in China; the demand for and market acceptance of its brand and services; competition in its industry in China; its ability to maintain the network infrastructure necessary to operate its website and mobile applications; relevant government policies and regulations relating to the corporate structure, business and industry; and its ability to protect its users' information and adequately address privacy concerns. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and 58.com does not undertake any obligation to update such information, except as required under applicable law.

For more information, please contact:
58.com Inc.
[email protected] 

Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: [email protected] 

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: [email protected]

 


58.com Inc.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands, unless otherwise noted)







As of


December 31,

2013


June 30,

2014





ASSETS




Current assets:




Cash and cash equivalents

60,494


13,201

Restricted cash


16,308

Term deposits

152,190


235,329

Short-term investments

98,411


165,778

Accounts receivable, net

4,292


5,675

Amounts due from related parties

127


736,144

Prepayments and other current assets

8,983


16,218

Total current assets

324,497


1,188,653

Non-current assets:




Property and equipment, net

6,427


9,873

Intangible asset, net

65


58

Long-term prepayments

2,352


3,954

Total non-current assets

8,844


13,885

Total assets

333,341


1,202,538

LIABILITIES AND SHAREHOLDERS' EQUITY




Current liabilities:




Accounts payable

8,309


8,343

Deferred revenues

55,099


75,685

Customer advances and deposits

21,369


27,748

Taxes payable

2,264


9,995

Salary and welfare payable

17,962


18,479

Amounts due to related parties

6


552,081

Accrued expenses and other current liabilities

8,049


16,962

Total current liabilities

113,058


709,293

Total liabilities

113,058


709,293

Commitments and contingencies




Shareholders' equity:




Ordinary shares                              

2


2

Additional paid-in capital

359,276


618,868

Accumulated deficit

(138,419)


(124,924)

Accumulated other comprehensive loss

(576)


(701)

Total shareholders' equity

220,283


493,245

Total liabilities and shareholders' equity

333,341


1,202,538










 

 


58.com Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

(U.S. dollars in thousands, except share, per share and per ADS data, unless otherwise noted)












For the Three Months Ended


For the Six Months Ended


June 30,

 2013


March 31,

2014


June 30,

2014


June 30,

2013


June 30,

2014











Revenues:










Membership

20,570


27,548


35,092


35,461


62,640

Online marketing services

14,117


20,519


29,322


22,430


49,841

Other services

427


173


145


952


318

Total revenues

35,114


48,240


64,559


58,843


112,799

Cost of revenues(1)

2,141


2,440


3,392


4,094


5,832

Gross profit

32,973


45,800


61,167


54,749


106,967

Operating expenses(1):










Sales and marketing expenses

19,514


32,076


40,324


38,088


72,400

Research and development expenses

6,068


7,733


9,523


11,852


17,256

General and administrative expenses

2,903


4,293


4,051


5,462


8,344

Total operating expenses

28,485


44,102


53,898


55,402


98,000

Income/(Loss) from operations

4,488


1,698


7,269


(653)


8,967

Other income/(expenses):










Interest income

27


1,451


1,877


46


3,328

Investment and other income, net

254


1,356


1,436


649


2,792

Foreign currency exchange income/(loss), net

128


(3,531)


390


158


(3,141)

Others, net

59


1,688


1,877


85


3,565

Income before tax

4,956


2,662


12,849


285


15,511

Income tax expenses


(346)


(1,670)



(2,016)

Net income

4,956


2,316


11,179


285


13,495

Accretions to preference shares redemption values

(2,733)




(5,381)


Income attributable to preference shareholders

(1,476)





Net income/(loss) attributable to ordinary shareholders

747


2,316


11,179


(5,096)


13,495

Net income

4,956


2,316


11,179


285


13,495

Foreign currency translation adjustment, net of nil tax

(434)


(227)


102


(511)


(125)

Comprehensive income/(loss)                                  

4,522


2,089


11,281


(226)


13,370

Net income/(loss) per ordinary share attributable to ordinary shareholders ‑ basic

0.02


0.01


0.07


(0.12)


0.08

Net income/(loss) per ordinary share attributable to ordinary shareholders ‑ diluted

0.02


0.01


0.07


(0.12)


0.08

Net income/(loss) per ADS ‑ basic

0.03


0.03


0.14


(0.23)


0.17

Net income/(loss) per ADS ‑ diluted

0.03


0.03


0.13


(0.23)


0.16

Weighted average number of ordinary shares used in computing basic earnings per share

44,245,388


158,876,693


163,845,229


44,245,388


161,374,686

Weighted average number of ordinary shares used in computing diluted earnings per share

47,389,071


168,140,508


170,328,272


44,245,388


167,847,603





















Note:










    (1) Share‑based compensation expenses were allocated in cost of revenues and operating expenses as follows:











Cost of revenues

12


5


6


24


11

Sales and marketing expenses

109


156


177


218


333

Research and development expenses

214


372


495


426


867

General and administrative expenses

233


498


580


464


1,078

 

 


58.com Inc.

Reconciliation of GAAP and Non-GAAP Results

(U.S. dollars in thousands, except share, per share and per ADS data, unless otherwise noted)












For the Three Months Ended


For the Six Months Ended


June 30,

2013


March 31,

2014


June 30,

2014


June 30,

2013


June 30,

2014











GAAP income/(loss) from operations

4,488


1,698


7,269


(653)


8,967

Share-based compensation expenses

568


1,031


1,258


1,132


2,289

Non-GAAP income from operations

5,056


2,729


8,527


479


11,256











GAAP net income

4,956


2,316


11,179


285


13,495

Share-based compensation expenses

568


1,031


1,258


1,132


2,289

Non-GAAP net income

5,524


3,347


12,437


1,417


15,784











GAAP operating margin

12.8%


3.5%


11.3%


(1.1)%


7.9%

    Share-based compensation expenses

1.6%


2.1%


1.9%


1.9%


2.0%

Non-GAAP operating margin

14.4%


5.6%


13.2%


0.8%


9.9%











GAAP net margin

14.1%


4.8%


17.3%


0.5%


12.0%

    Share-based compensation expenses

1.6%


2.1%


1.9%


1.9%


2.0%

Non-GAAP net margin

15.7%


6.9%


19.2%


2.4%


14.0%











Weighted average number of ordinary shares used in computing non-GAAP basic earnings per share

44,245,388


158,876,693


163,845,229


44,245,388


161,374,686

Weighted average number of ordinary shares used in computing non-GAAP diluted earnings per share

47,389,071


168,140,508


170,328,272


44,245,388


167,847,603











Weighted average number of ADS used in computing non-GAAP basic earnings per ADS

22,122,694


79,438,347


81,922,615


22,122,694


80,687,343

Weighted average number of ADS used in computing non-GAAP diluted earnings per ADS

23,694,536


84,070,254


85,164,136


22,122,694


83,923,802











Non-GAAP net income/(loss) per ordinary share ‑ basic

0.03


0.02


0.08


(0.09)


0.10

Non-GAAP net income/(loss) per ordinary share ‑ diluted

0.03


0.02


0.07


(0.09)


0.09











Non-GAAP net income/(loss) per ADS ‑ basic

0.06


0.04


0.15


(0.18)


0.20

Non-GAAP net income/(loss) per ADS ‑ diluted

0.06


0.04


0.15


(0.18)


0.19

 

SOURCE 58.com

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With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, will discuss how the ability to access and analyze the massive volume of streaming data from mil...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Silver Spring Networks, Inc. (NYSE: SSNI) extended its Internet of Things technology platform with performance enhancements to Gen5 – its fifth generation critical infrastructure networking platform. Already delivering nearly 23 million devices on five continents as one of the leading networking providers in the market, Silver Spring announced it is doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communic...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...