McAfee Corp., the cybersecurity company founded by tech eccentric John McAfee, has set the terms for its initial public offering, hoping to raise as much as $682 million in a deal that could value the company at $3.64 billion.
McAfee, based in San Jose, plans to sell 37 million shares at a price of $19 to $22 each. The stock will trade on Nasdaq, with the ticker symbol MCFE, the company said in an SEC filing.
Of the 37 million shares, 30,982,558 will come from the company and 6,017,442 from existing stockholders. McAfee expects to have 165.44 million Class A shares outstanding after the IPO.
In the six months through June 27, McAfee posted profit of $31 million, swinging from a loss of $146 million in the year-earlier period. Revenue rose 9% to $1.4 billion from $1.29 billion.
John McAfee founded McAfee Associates in 1987 and ran it until 1994,
There’s another entrant in the startup race to provide financial services to Latin America’s small and medium-sized businesses.
Financial services have been a huge opportunity for startups coming out of Brazil, Colombia and Mexico in recent years, and now Xepelin, a new company from Chile, is looking to join the fray.
Xepelin’s founders, Sebastian Kreis and Guillermo Molina Carvallo, launched their company with the vision of creating a new kind of online bank for Latin America’s small businesses.
Sebastian Kreis, chief executive officer, Xepelin. Image Credits: Xepelin
The company’s pitch to business owners depends on a variation of the lending tool known as factoring, where small businesses can take out loans based on the income they’re expecting to receive. In Latin America, where small businesses have limited avenues to traditional loans, according to Kreis, factoring represents a novel solution.
Xepelin already has a multimillion dollar credit line on the books
The effort is part of what Gen. Paul Nakasone, the head of Cyber Command, calls “persistent engagement,” or the imposition of cumulative costs on an adversary by keeping them constantly engaged. And that is a key feature of CyberCom’s activities to help protect the election against foreign threats, officials said.
“Right now, my top priority is for a safe, secure, and legitimate 2020 election,” Nakasone said in August in a set of written responses to Washington Post questions. “The Department of Defense, and Cyber Command specifically, are supporting a broader ‘whole-of-government’ approach to secure our elections.”
Trickbot is malware that can steal financial data and drop other malicious software onto infected systems. Cyber criminals have used it to install ransomware, a particularly nasty form of malware that encrypts users’ data and for which the criminals then demand payment — usually in cryptocurrency — to unlock.
In the hours since the president revealed he has COVID-19, some people have been tweeting that they’re in favor of the virus. This Motherboard article mentions they asked Twitter about the behavior, and were informed that under its current rules, tweets that wish or hope for death of anyone are not allowed.
Twitter told Motherboard that the rule has been in place since April, but a look at the Internet Archive shows this specific policy appears to have arrived as part of the simplified rules Twitter rolled out in the spring of 2019. Since June 2019 the rules have remained the same:
Wishing or hoping serious harm on a person or group of people
We do not tolerate content that wishes, hopes or expresses a desire for death, serious bodily harm or fatal disease against an individual or group of people. This includes, but is not limited to: