Good morning, Austin! We have scrolled the internet to bring you the latest tech news. Here are this morning’s headlines:
Asure expects to raise $35M in public offering of its common stock
Austin-based Asure Software today announced the pricing of an underwritten public offering of its common stock.
The offering consists of 2 million newly issued shares being sold by Asure and 500,000 shares being sold by iSystems Holdings, the selling stockholder, at $17.50 a share.
Assure said it expects to receive proceeds of $35 million before underwriting fees and expenses.
The company said it intends to use the money received from the sale for general corporate purposes as well as to acquire or invest in complementary businesses, assets or technologies.
The offering is expected to close by the end of the month.
Asure’s products are used to help companies manage mobile workforces spread around the world.
Customers use Asure’s tools to track work hours as well as manage hoteling, which involves providing office space for mobile workers on an as-needed basis rather than a traditional reserved desk. Asure has more than 80,000 clients worldwide.
Report: Microsoft is developing tech to eliminate cashiers and
Microsoft is working on technology that would eliminate cashiers and checkout lines from stores, in a nascent challenge to Amazon.com’s automated grocery shop, according to a Reuters report.
The Redmond, Wash.-based software giant is developing systems that track what shoppers add to their carts, the people say. Microsoft has shown sample technology to retailers from around the world and has had talks with Walmart about a potential collaboration, sources told Reuters.
Microsoft’s technology aims to help retailers keep pace with Amazon Go, a highly automated store that opened to the public in Seattle in January.
Report: WeWork doubled revenue last quarter
As WeWork grows globally, the startup is also packing more people into its rental office spaces. The move helped drive revenue up 110 percent to $342 million last quarter, according to a Bloomberg report.
The occupancy rate for WeWork buildings, where startups and large companies rent office space, rose to 82 percent at the end of the first quarter, up from 73 percent a year ago, to a staff email viewed by Bloomberg.
WeWork expanded to 73 cities in the quarter from 40 a year earlier and more than doubled membership to 220,000. The company is increasing sales and customers at a faster rate than cities, which suggests it’s squeezing more out of existing markets, Bloomberg says.
According to documents associated with a bond sale in April, WeWork lost $933 million on sales of $886 million in 2017.
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