Government AI, Yahoo acquiring Artifact and Smarsheet crosses $1B in ARR 🚀

Product Scoop
April 09, 2024

Hey Hey and welcome to the first edition of Software Scoop. We’re the newsletter delivering insights, updates, and analysis into the software sector.

Without further ado, here’s your first scoop 🍦

Issue #1

During a recent earnings call, Oracle's Larry Ellison outlined a significant market opportunity: providing cloud infrastructure for national and state governments. Ellison emphasized that Oracle is not only winning business with companies but also with countries, negotiating sovereign regions with national governments. Read more

Smartsheet, a leading business software company based in Bellevue, Washington, has achieved a significant milestone, surpassing $1 billion in annualized recurring revenue in the fourth quarter. Despite challenges posed by cautious customer spending, CEO Mark Mader remains optimistic about the company's growth trajectory. Read more

Yahoo has announced its acquisition of Artifact, the AI-powered news app developed by Instagram's co-founders Kevin Systrom and Mike Krieger. While the financial terms were not disclosed, Artifact will cease to exist as a stand-alone app, with its AI-powered personalization technology set to integrate across Yahoo's platforms, including the Yahoo News app in the coming months. Systrom and Krieger will advise Yahoo during the transition. Read more