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it's generally permitted that revenues for cell carrier suppliers are trending flat to down. A fresh ARPU document from Informa offers this photograph in detail by means of nation. Some mobile carrier providers have received content services as a means to increase this trend, however they admit that this too will eventually style to flat once again. What is needed is a brand new enterprise mannequin that goes past connectivity and bandwidth. There are a few stories on digital transformation and 5G in selected that note the features for enterprise are amazing increase alternatives between now the 2025 (and past). there's an in-depth 2016 file from the eu fee with a catchy title of “Identification and quantification of key socio-financial information to assist strategic planning for the introduction of 5G in Europe” that projects a big growth in enterprise business for mobile provider suppliers 5G network services between now and the 2025.
determine-1: Operator salary increase possibility
For brevity, the file focused on only a couple of key business areas, however you could certainly see from the charts above that enterprise features makes up a really small volume of income for cellular provider providers, but that it is projected to grow notably in eight years’ time.
one more unique analyze is a 2015 file by the GSMA on 5G chance. They discuss the technical requirements for 5G to convey new services. You’re like prevalent with many of these, like extremely-excessive reliability, extremely-low latency, and so forth. One aspect that jumped out to me is a chart they used (see beneath) of a basket of “5G” features. They reveal that approximately eighty five% of these “5G” features can definitely be delivered over latest radio technology if only the correct 5G-capable network basis changed into in region. this is in reality good news, as a result of we all understand that probably the most high priced materials of the cellular network is (a) spectrum and (b) radio. The rest of the community is a lots smaller piece of normal price. in case you can truly bring on a majority of 5G capabilities without the rate of recent radio (and therefore gaining remarkable price out of your current radio investment) that’s terrific information. Now you will also be much more pragmatic with you planning.
figure-2: 2015 GSMA document on 5G features
So, returned to discussing the appropriate community groundwork. via “right community groundwork”, we are speaking about advanced automation and virtualized performance. This includes community reducing over a dispensed structure that includes aspect computing and the capacity to region what materials are obligatory, the place necessary, and when obligatory. this is about the appropriate time to pause and explain what 5G is from a Cisco aspect of view. quite without difficulty, the Cisco Open community architecture (ONA) kinds an enablement platform for ingenious features and purposes. it is our unifying network textile that simplifies this through advanced end-to-end automation.So by means of now you're possible considering, “adequate Dan , that sounds best and all, but how does a mobile service company get from where they're today to this gorgeous Unified Enablement Platform and commercial enterprise functions nirvana? and how is that this economically possible?” I’m so happy that you simply asked. Cisco also takes a very pragmatic view of digital transformation and 5G. We agree with it's helpful to squeeze as tons business skills out of any community investment as possible.
At cellular World Congress 2017 in Barcelona, Cisco unveiled our three-part Plan to your 5G success. The three phases are:
part-1: investigate and BuildCisco functions will work with the cellular carrier company and create a complete 5G community assessment. This contains a present state mannequin (of community and company) and a future state model (the place you need to be and what they seems like). once agreed upon, we seriously change the community into a 5G equipped Unified Enablement Platform. This platform will leverage business leading distributed virtualized network and repair functions.
phase-2: set up new 5G service (over latest radio)Your network is now agile and operations simplified with advanced conclusion-to-conclusion automation and orchestration. You choose the carrier you are looking to introduce, the orchestration creates the community slice and assembles the mandatory building blocks to bring the particular requirements and meet SLAs.
part-3: strengthen to general based mostly 5GOnce 5G standards are in fact ratified and general-based mostly expertise is delivered, you already have the relaxation of your network in place and the leisure can also be added in a much less disruptive manner. additionally when you consider that you have already got been offering a majority of 5G capabilities, that you could have a greater pragmatic approach to what and the place you really need so as to add the 5G radios.
there are lots of merits of the 3-section Plan beyond essentially the most obvious – that you should promote 5G capabilities well earlier than 5G is ratified. The 5G able Unified Enablement Platform is enormously effective and you'll predict significant cost discounts:
Cisco is familiar with that reworking your business and community to take competencies of the digital transformation and 5G is complicated. however we have the abilities and management in IP infrastructure, systems and Automation. we are development leaders in our trade and we will help you bring new 5G functions nowadays. and extremely importantly is that Cisco is uniquely positioned to help related the provider company with commercial enterprise shoppers and vertical opportunities. such as you we take a realistic view of this 5G transformation and might assist the cell carrier company benefit essentially the most out of the digital transformation and 5G.you can gain knowledge of greater about our 5G equipped Unified Enablement Platform.
Zoom CEO Eric Yuan cut an not going figure as he addressed the cheering throng in the moments earlier than ringing the hole bell at Nasdaq, his bashful grin giving technique to a look of focus as he mentioned, “a brand new video game starts these days.” sure, his startup wasn’t as well-known as Lyft and Pinterest, two customer companies that additionally just made their IPO debuts. however to any individual standard with Yuan, the shock wasn’t how he bought there. It’s that he was physically existing in any respect.
because the founder of Zoom, which offers video conferencing application over the information superhighway, Yuan practices what he preaches. After Yuan employed lots of of engineers in his native China, he went three years between in-person visits. When he raised cash from good venture capital traders, he confirmed up only once, to make certain each investor within the room had downloaded the Zoom app. For his IPO road reveal, Yuan deigned to make the 50-mile trek from his San Jose headquarters to San Francisco for a single investor lunch—and then bolted back to work. every person else, funds manager massive or small, met with him very nearly, over Zoom. When Yuan flew to new york for the IPO, it was just his eighth business trip in 5 years.
“customers have at all times observed, ‘Eric, we’ll become your very important client, you’ve got to visit us,’” says Yuan. “I say, ‘high-quality, I’m going to seek advice from you, however let’s have a Zoom name first.’” That’s usually enough.
It labored with Wall road, the place demand for Zoom (formally known as Zoom Video Communications) triggered the company to elevate its IPO expense to $36 per share, valuing the business at $9.2 billion—and making Yuan a new billionaire at age 49. The inventory’s seventy two% first-day pop boosted Zoom’s market cap to $15.9 billion and the internet value of Yuan, who owns 20%, to $three.2 billion. concerned about video-conferencing tools that didn’t reinvent the wheel, simply made it an awful lot less painful to show. An engineer-became-founder who as soon as ran Cisco’s Webex video-conferencing company, Yuan set out to make equipment that work equally smartly in a board room in manhattan or from a kitchen table in China. in-built the cloud and priced the use of a “freemium” mannequin that allow any individual host a meeting of forty minutes or much less for free of charge, Zoom now posts numbers that had Aaron Levie, CEO of field (a customer), tweeting it may delivery a second business selling its “appealing” monetary numbers as a espresso desk ebook.
Zoom founder Eric Yuan likes to make use of his video tool's digital backgrounds to seem in places from San Francisco's Golden Gate Bridge to the beach in Santa Barbara, where Zoom maintains a satellite workplace.Ethan Pines for Forbes
With annual salary of $331 million, up 118%, Zoom became the ultra-rare tech unicorn to make its IPO debut with a income, boasting 50,000 company purchasers, including Samsung, Uber, Walmart and Capital One. Its sudden repute—emanating from its IPO—is a new suppose for an organization that takes its cues from a CEO who no longer most effective shuns the spotlight, however is so frugal he insists on reimbursing Zoom when he offers a friend swag like a Zoom backpack. below the belated buzz: a story of perseverance and superior execution, proving that an surprising challenger can sweep the field, even in a crowded market.
With hypergrowth comes possibility, of direction, and Zoom nonetheless should show it could proceed to most useful its competitors: massive groups, like Google and Microsoft, that scared off most task buyers in Zoom’s early days eight years in the past. Cisco, Yuan’s former service provider, can also privately rue letting him depart, nonetheless it’s now not shying far from a battle. And whereas Zoom has the goodwill of tons of the tech community, with partners like Atlassian, LinkedIn and Slack, its inevitable movement past video skill its record of rivals is probably going to develop. Ringing the Nasdaq bell checks off one dream for Yuan. There are lots extra to move. “It’s like a marathon,” Yuan says of his ambitions to join the working world like facebook did with consumers—which would make Zoom even larger than Cisco. “You’re handiest 5 miles forward of me, that’s ok. I’ll run quicker than you, and i’ll nonetheless catch up.”
For Yuan’s first entrepreneurial act, he burned down his neighbor’s cottage. The son of mining engineers in China’s japanese Shandong Province, in fourth grade Yuan begun collecting construction scraps to recycle their copper for cash. When the younger hustler found the power obligatory most effective the metal, he tried to burn away the additional material in a hen shack behind his neighbor’s residence. To his horror, firefighters needed to come put out the blaze. Yuan says with regular understatement: “My folks had been definitely upset.”
At Shandong college of Science & expertise, Yuan studied applied mathematics and laptop science and then, at age 22, received married whereas pursuing his master’s degree. Already convinced he’d start a company sooner or later, and concerned about entrepreneurs like bill Gates, he set his attractions on the U.S. tech boom. easier stated than finished: After U.S. customs asked for an English-language version of his enterprise card, it listed Yuan as a consultant, and he changed into misunderstood to be an element-time contractor. His visa changed into denied. For the next 12 months and a half, the now-skeptical immigration services would deny him seven extra instances. but Yuan refused to hand over. “I advised myself, k, first-rate. I’ll do all i can except you tell me that i can certainly not come here anymore. otherwise, I’m not going to cease.”
in the summer of 1997, Yuan joined two-12 months-old Webex, based mostly in Milpitas, California. As a young worker, Yuan would routinely code all nighttime on a Friday, then go play a pickup soccer game on no sleep on Saturday afternoon. riding the exuberance of the dot-com bubble and with video-conferencing tools taking expertise of sooner web speeds, Webex went public in July of 2000 and turned into acquired by means of Cisco for $3.2 billion in 2007. no longer lengthy after, Cisco tapped Yuan to lead Webex. however by way of 2010, Yuan turned into sad. The issue, based on Yuan: The carrier readily wasn’t very respectable. each and every time clients logged on to a Webex conference, the enterprise’s techniques would ought to determine which edition of the product (iPhone, Android, pc or Mac) to run, which slowed things down. Too many individuals on the line would stress the connection, resulting in uneven audio and video. And the service lacked contemporary points like display-sharing for mobile.
Zoom executives, traders and family unit wave to employees who joined the Nasdaq IPO ceremony remotely by means of Zoom video on its April 18, 2019 IPO.Nasdaq, Inc.
“someday a person goes to construct whatever on the cloud, and it’s going to kill me,” Yuan instructed invoice Tai, a assignment investor who became one of the most first backers of Zoom. After a yr of pestering his bosses to let him rebuild Webex, Yuan gave up and decided to go away Cisco in 2011. “Cisco became extra focused on social networking, attempting to make an business fb,” he says. “Cisco made a mistake. Three years after I left, they realized what I observed was right.”
The greatest hurdle: convincing his spouse, who saw him throwing away a lucrative job managing 800 americans. “I advised her, ‘I realize it’s an extended event and extremely difficult, but if I don’t are trying it, I’ll feel sorry about it.’”
First Yuan requested friends, together with fellow buyers in a consumer video app referred to as Tango, to put in writing him $250,000 exams so he could pay 30 engineers (some in China) to work on a new thought: create greater know-how for video communications, then figure out what app to construct on properly. often on account of their religion in Yuan, the traders, together with former Webex CEO Subrah Iyar, gave him $3 million for his startup, which became then known as Saasbee. “everyone in assignment capital notion it turned into a bad idea,” says Jim Scheinman of Maven Ventures, who as considered one of Zoom’s first backers came up with its existing identify.
inside months, Yuan realized he wanted to goal the video conferencing enterprise once again. The VCs had rationale to be skeptical. With Microsoft owning Skype, Google available in the market via Hangouts and Cisco still main in market share, video conferencing had entrenched incumbents; there have been additionally diverse startups, together with the neatly-funded BlueJeans community. “it might require flawless execution to win,” says one investor who passed on Zoom. Even at Qualcomm Ventures, which led Zoom’s $6 million sequence A funding in 2013 alongside Yahoo cofounder Jerry Yang, there become “a lot of inner debate,” says companion Quinn Li.
From rundown offices in Santa Clara, with an oft-broken elevator and a mission-vital video digicam perched atop a cheap fridge, Yuan and the U.S. contributors of his team quietly worked on their product for just about two years. When Zoom launched, it had several key modifications from the crowd. Its light-weight web client might work out virtually straight what kind of equipment you have been the use of, that means Zoom didn’t want different versions for Mac or pc. It additionally provided a software layer that shielded any bugs that might be delivered when a browser like Chrome, Firefox or Safari pushed an update. Zoom may operate even at 40% facts loss, so it would still work on a spotty or slow internet connection. And at $9.ninety nine per host per thirty days ($14.ninety nine today), it undercut its rivals. Zoom client service chief Jim Mercer became then working at competitor GoToMeeting when a colleague opened a Zoom account to peer what the hype changed into about. “One click, we had been in, and there were 25 feeds of individuals on the same time,” he says. “We were like, ‘What is that this voodoo? How are they doing it?’ ”
After raising another $6.5 million from Li Ka-shing’s Horizons Ventures, Zoom raised a $30 million round from Emergence Capital in 2015 (Li, Hong Kong’s richest adult, is still a generic user of the tool, a rep says). quickly after, Zoom started to target larger corporate customers. Yuan greatly surprised companions at Emergence when he confirmed up for his pitch assembly and promptly insisted every investor download the Zoom app and join him for a are living video convention of the presentation, accomplice Santi Subotovsky says. Yuan stunned them once again when, approached via significant companies that 12 months, he warned these abilities shoppers Zoom's elements may now not be in a position for his or her business. however after scooping up lots of the speedy-growing businesses in its backyard in Silicon Valley, like box, Slack and Uber, Zoom broke out of tech in 2016, and now manages debts equivalent to gap Inc. and Williams-Sonoma.
At Phoenix infants’s sanatorium, group of workers attend conferences, host surgical case conferences and work with patients over Zoom. irritated with a extra advanced predecessor, Phoenix toddlers’s validated Zoom for well-nigh four years and now has 464 staffers registered on it. For kids who're dealing with long stays, the hospital has offered them Zoom money owed and iPads to fulfill with every other in digital help groups and assist them attend faculty without immunological risk. “Being out of school for too lengthy, it may possibly result in them not graduating,” says Rachel Dunagan, an A/V tech on the hospital. “With Zoom, they can be are living in the room, interacting with the lesson and their classification. It continues them in a position to participate. It’s been magnificent up to now.”
by the time Sequoia backed Zoom in a $115 million collection D round in early 2017, valuing the business at $1 billion, the famed undertaking company had been combating to get a piece of it for greater than two years. “We had been going through the entire due diligence, and that i be aware saying there have to be a thousand Eric Yuans on earth, as a result of all and sundry we spoke to, they knew Eric, huge or small,” says Sequoia associate Carl Eschenbach.
Yuan’s secret for being in all places: Zoom, of direction. His addiction of taking probably the most crucial meetings basically all started on account of basketball. A diehard NBA fan given that relocating to the U.S., first of the Lakers’ Kobe Bryant for his work ethic and then of his local Golden State Warriors, Yuan made a degree of attending each of his three youngsters’ basketball video games and gymnastics meets. One wonderful Zoom function is a digital background the person can change to display a symbol or graphic, disguising the place they basically are. ultimate summer, his eldest son, now a graduating high college senior who set the local league record for 3-element photographs, had a event in la. “I set the historical past as the Santa Barbara seashore, and they all thought I’m there. After the assembly, I swipe,” revealing a sweaty excessive-college health club. “and they all say, ‘What?’ ”
Golden State Warriors athlete Andre Iguodala invested in Zoom after meeting Eric Yuan at a Forbes Cloud one hundred event.Bessemer challenge partners
Yuan’s love of basketball led him to make room for a celebrity investor from his cherished Warriors ultimate yr, however it changed into veteran position player Andre Iguodala, no longer a flashier celebrity like Steph Curry or Kevin Durant. “We had a good dialog on how my game relates to his business, doing the little issues appropriate,” Iguodala says. the feeling, both say, is mutual: appreciate for a professional who wins via inserting group earlier than ego.
Two months earlier than the IPO, Yuan walks throughout the earnings and engineering departments of Zoom’s newer San Jose headquarters. The elevators ultimately work during this one, nevertheless it’s nonetheless a bit of dingy, the effect of Yuan’s resolution to prioritize a space close to the Caltrain and rent it pre-furnished to save on prices. It’s the chinese language New yr, and Yuan fingers out little crimson envelopes to any employee who appears up, calling out most by identify. “Don’t open this,” he tells one neighborhood with the smirk of a dad teasing his kids. “After we go away, then you open them. It’s a lot of money!” For Zoom’s 1,seven hundred staffers nowadays, a lot of whom became multimillionaires in Zoom’s IPO, the payoff is a gag: one crisp, “lucky” $2 invoice.
Yuan’s public-dealing with thriftiness serves a secondary message: What concerns at Zoom is the product, now not the perks. He shares his office together with his product chief and historical friend Oded Gal, a fellow Webex veteran he hired away from BlueJeans community three years ago. however you’ll seldom locate Yuan there. a few times a year, the CEO takes a temporary desk with a group he wants to focus on through sitting aspect-by-side, marking his choice with two small household snap shots and a stack of books to supply out. Yuan’s been with the engineers given that Zoom announced a voice product in October, now known as Zoom phone. It’s one in all a couple of primary product traces Zoom has touted in recent months, alongside an update to its convention room bundle known as Zoom Rooms. though an increasing number of Zoom’s users log in via smartphone–one out of six these days, Yuan says–many large businesses nonetheless rely upon hardwired conference rooms. Zoom provides the application; partners like Dell, Logitech and Polycom provide the TVs, cameras and speakers. It’s a circulation Yuan thinks is strategic to successful over huge-measurement valued clientele whose CEOs spend a lot of time in digital conferences.
A mentor once advised Yuan the IPO can be like graduating from high faculty. “You go have a good time at some point, and that’s it,” Yuan says. “You don’t desire high college to be the peak of your efficiency, right?”
even though Zoom isn’t making hardware, its bundle smacks of the stuff bought by way of Yuan’s ex-organisation, Cisco. There’s some irony to that, as ultimate 12 months Cisco shook up its Webex unit—it now appears greater like Zoom. It reorganized below a new leader, Microsoft veteran Sri Srinivasan. His mission: revitalize Cisco’s collaboration products, with video conferences one of a number of elements. And he’s chuffed to throw some shade. “Zoom is apples and oranges,” Srinivasan says, and offers “fledgling” solutions beyond its core laptop-to-computing device video equipment. “They’ve finished a good looking good job in their own right, with a bunch of borrowed elements from Webex.”
A revitalized Cisco—as well as Google, Microsoft and even potentially Apple and Amazon—threatens Zoom simply because it did in its early days. while Zoom has claimed to work with at the least 90 of the Cloud a hundred—Forbes’ exclusive ranking of the precise deepest cloud groups—some enterprises like Sony have resisted the circulation to Zoom as too complex to install at significant scale. At some organisations like GM and Verizon, groups use assorted solutions that don’t include Zoom at all. Others like Ford use Zoom, however best for a handful of people. Even at Qualcomm, which owns a bit of the business, you’ll find Cisco and Microsoft. “individuals just have an answer they already pay for,” Qualcomm Ventures’ Li says.
Zoom's virtual backgrounds cover messy offices -- enabling users to pick where they appear to appear, from the golf course to the Las Vegas Strip.Zoom
As Zoom adds features and bigger bills, with some groups simultaneously internet hosting lots of individuals across multiple chats, the company will should be cautious now not to cut corners and damage the product. In January, Zoom suffered a excessive-profile provider outage, which it blamed on Amazon web services, however all people noticed was that Zoom’s app didn’t work.
“It’s like a restaurant,” Yuan says about the same glitch with a 3rd-birthday celebration seller. “When a client walks into a cafe, except they leave, the total journey must be wonderful. which you can’t blame anything else on anybody else.”
however, of path, it can reduce both ways. When fb went down in March, the brand new Zealand house of Representatives streamed its committee conferences over Zoom instead of facebook are living. And per its regulatory filing with the SEC before going public, Zoom stated greater than half of the 500 greatest organizations in the united states had at the least one paid seat on Zoom, however few had signed large contracts, suggesting an avenue for tremendous revenue down the street.
Then there’s the foreign market, where Zoom did just 18% of its company in its final fiscal year. enlargement into markets with the most demand for Zoom—the UK, Japan, France, Germany and Australia—gifts a natural future perspective of attack. Zoom is furthest alongside in Canada and is researching it for its next phase of boom. And after Yuan, ever thrifty, spurned the chance to purchase the Zoom.com address in the enterprise’s early days, choosing the more affordable Zoom.us, Zoom quietly got it remaining yr for $2 million, a site that could prove constructive in disassociating the enterprise from the U.S. in sensitive overseas markets.
China continues to be a wild card. Zoom has greater than 500 engineers there, rare for a U.S. business. however China is an unproven market for the business company, Yuan says. still, Zoom’s employee foothold within the nation and Yuan’s personal connections would imply that if any enterprise can make the soar, it would be Zoom—advantage privateness concerns apart.
If Zoom hopes to develop into as large as Cisco one day—the San Jose-based mostly enterprise booked $49 billion in income final fiscal yr, and its inventory is buying and selling close a 20-12 months excessive, producing a market capitalization of about $250 billion—it's going to seemingly should offer way over video within the years to come back. Voice-simplest calling become possible just the primary in a number of features Zoom might add in communications, akin to messaging and file sharing. One doubtless area for a much bigger push: records. Zoom already connects clients to other capabilities to checklist and transcribe its convention calls and aid sales reps flag phrases or patterns of interplay that might suggest a deal is close, from an incredible time to speak or the period of a call. equivalent equipment could help entrepreneurs, product developers and customer service reps be taught from their Zoom meetings sooner or later, too. And Zoom has powerful chums for that push, so long because it doesn’t compete too a lot. enterprise application leaders Atlassian and Salesforce each have invested without delay and others, like LinkedIn, have made it a preferred partner.
meanwhile, don’t are expecting Yuan to let his newfound billionaire reputation go to his head. He may additionally force a Tesla, however best because he sees the company as plenty like Zoom—it’s designed otherwise and it’s faster under the hood (plus Tesla is a consumer, too). lower back in his cubicle the Monday after the IPO, he’ll keep trawling the Zoom Twitter account for consumer testimonials to retweet. And he’ll expect employees, who became out world wide for the IPO ceremony to wave to their boss over a are living feed in instances rectangular the usage of—what else?—Zoom to follow his lead. A mentor as soon as instructed Yuan the IPO would be like graduating from high college. “You go have a good time at some point, and that’s it,” Yuan says. “You don’t want high faculty to be the peak of your efficiency, appropriate?”
Yvette Kanouff, the top of Cisco's provider company enterprise, introduced to the company Wednesday that she is leaving to birth her "third profession chapter."
In an interior message to employees got by means of light reading about her departure, Kanouff, the SVP and GM of Cisco techniques Inc. (Nasdaq: CSCO)'s carrier issuer company, stated that she's secured a board seat at a yet-unnamed business and should focal point on emerging applied sciences.
"My next part, which I have been considering for years, is set being capable of make an impact on boards and nurturing new industries and applied sciences," she wrote. "I beginning my first board seat this month, and that i have a chance to work with many startups and corporations. it's certainly a bit scary to make such a big alternate, but it surely is highly pleasing."
Cisco pointed out Jonathan Davidson, SVP and GM of its service company Networking unit, will lead Cisco's SP company going forward. "We admire Yvette's leadership of our provider company enterprise over the past 4 years and want her the entire most appropriate as she starts a brand new chapter," the enterprise mentioned in a statement.
Kanouff's movement comes about three months after the company inked a deal to promote its video application enterprise, together with what changed into a part of its $5 billion acquisition of NDS, to deepest equity company Permira . She is additionally relocating on amid ongoing struggles at Cisco's service issuer section, which was down 4% in Cisco's fiscal Q1. (See Cisco Dumps Video software Biz, Ends NDS period and Cisco Bets $5B greater on Video With NDS.)
That deal with Permira, headquartered on Cisco's provider company Video application solutions business, is slated to shut later this month, and Kanouff is expected to live on to see that deal via. Permira, which prior to now held a majority stake in NDS and counts former NDS Chairman and CEO Dr. Abe Peled as an advisor, plans to rebrand the enterprise and center of attention on developing and launching new video products for the pay-television business.
Kanouff has been asked for particulars on her new board seat (mild analyzing will replace the story if that information comes to easy).
Kanouff lately spoke to easy analyzing to talk about how network automation recommendations can yield backside-line enterprise outcomes (See Unknown doc 744497.)
Kanouff joined Cisco in 2014 as SVP and GM of its SP Video utility and solutions group, and become named to her final slot at Cisco in March 2016.
She is additionally late of Cablevision techniques (now part of Altice united states ) and changed into a protracted-time exec at video software business and VoD tech business SeaChange international Inc. (Nasdaq: SEAC), the place she finally rose to turn into president.
Kanouff was also a key participant at Time Warner Cable's technology division, and turned into a part of the crew that labored on the entire carrier community, an formidable (and costly) task that pioneered and proven an early mix of interactive features, including VoD and on-display, on-line searching and media-wealthy television interfaces. (See Now it's a set-excellent!)
— Jeff Baumgartner, Senior Editor, light reading
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PNB-Kwasa International 2 is a joint venture of Permodalan Nasional Bhd (PNB) and the Employees Provident Fund (EPF).
Battersea Phase 2 Holdco is a unit of Battersea Project Holding Company Ltd, which is owned by Sime Darby Property Bhd and S P Setia Bhd, each holding a 40% stake, and EPF holding the remaining 20%.
In a joint statement issued by SP Setia and Sime Property, the development was a major step in the ownership reorganisation for Phase 2 of the Battersea Power Station commercial.
“We are pleased with the sale of the Phase 2 commercial assets. It will bode well with our business plans as we continue to play a major role in the overall development of this iconic project. S P Setia is fully committed and positive on the long-term prospects of the project,” said SP Setia president and CEO Datuk Khor Chap Jen. “We would like to thank all the parties involved in evaluating this acquisition and making this transaction a success. The commitment shown by all demonstrates the confidence in this iconic London landmark development,” Khor said. “This is an important milestone in the development of the Battersea Power Station site, and it is a strong sign of confidence in the long-term success of this global property icon. We are pleased to have secured this commitment from two of Malaysia’s leading institutions,” said Sime Darby Property Group managing director Amrin Awaluddin.
Under the terms of the sale and purchase agreement, Battersea Phase 2 Holdco will dispose of the commercial elements of the Battersea Power Station building for a base consideration of £1.583 billion (equivalent to approximately RM8.351bil).
The transaction is expected to be completed in the first quarter of 2019.
London-based Battersea Power Station Development Company (BPSDC) will continue to manage the project, whilst subsidiaries of BPSDC Battersea Power Station Asset Management Ltd and Battersea Power Station Estate Management Ltd will be appointed as the asset manager and property manager after practical completion of the Power Station building for an initial term of 10 years.
MOUNTAIN VIEW, Calif., Jan. 7, 2018 /PRNewswire/ -- Semnur Pharmaceuticals, Inc., a clinical stage specialty pharmaceutical company focused on developing and commercializing novel therapeutics for pain, announced the start of a pivotal Phase 3 clinical trial in the U.S. to evaluate its lead product SP-102 in patients with lumbar radicular pain/sciatica. In addition, the U.S. Food and Drug Administration (FDA) has granted SP-102 Fast Track Designation for the treatment of lumbar radicular pain/sciatica.(PRNewsfoto/Semnur Pharmaceuticals, Inc.) (PRNewsfoto/Semnur Pharmaceuticals, Inc.)
SP-102 is the first non-opioid corticosteroid formulated as a viscous gel injection in development for the treatment of lumbar radicular pain/sciatica, containing no neurotoxic preservatives, surfactants, solvents or particulates. The CLEAR ("Corticosteroid Lumbar Epidural Analgesia for Radiculopathy") Clinical Study is a randomized, double-blind, placebo-controlled Phase 3 trial that will enroll 400 patients with lumbar radicular pain at up to 35 sites across the U.S.. The primary endpoint of the study is mean change in the Numerical Pain Rating Scale for leg pain compared to intramuscular injection of placebo over four weeks. The secondary endpoints include other measures of pain at 4 and 12 weeks as well as time to repeat injection of SP-102, safety and disability. The study includes an open-label extension to build the safety database of patients treated with SP-102.
The FDA's Fast Track program was implemented to expedite the development and regulatory review of therapeutic programs that seek to address significant unmet medical needs. As Semnur develops SP-102 for lumbar radicular pain, the company is eligible for more frequent communication with the FDA related to the drug development plan and data necessary to expedite the development of this novel non-opioid pain treatment.
"On the heels of our successful Phase 1 / 2 bridging study results, we are excited to be starting our pivotal Phase 3 CLEAR trial to evaluate how a single epidural injection of SP-102 relieves sciatica pain. We've received significant interest from physicians to participate in this trial, looking for treatment alternatives for their patients without the burden of opioids," said Jaisim Shah, Chief Executive Officer, Semnur Pharmaceuticals.
"Patients with lumbosacral spinal conditions return frequently to their doctors looking for pain relief. We are eager to investigate what may be the first FDA-approved epidural injection that the interventional pain physicians could offer their patients for persistent relief of their pain, caused by nerve root compression usually by herniated intervertebral discs. We designed SP-102 to address expectations of medical community for a safer and longer-lasting injectable medication to reduce inflammation and pain," said Dr. Dmitri Lissin MD, Chief Medical Officer, Semnur Pharmaceuticals, Inc.
CLEAR Study Information for PatientsA website is now available for patients interested in the Phase 3 CLEAR Clinical Study. It includes information about SP-102 sciatica-related back and leg pain, the treatment protocol and resources to help patients determine if they may qualify for the clinical study to evaluate a new therapy for the treatment of lumbar radicular pain, commonly known as sciatica. If a patient is chosen to participate in the CLEAR trial, all study-related care is provided at no cost to the patient. Visit www.clearbackpainstudy.com.
About SP-102SP-102 is a non-opioid corticosteroid formulated as a viscous gel injection, designed to prolong its analgesic effect at the site of the epidural injection, as demonstrated in clinical and preclinical studies. SP-102 does not contain neurotoxic preservatives, surfactants, solvents or particulates, which is expected to result in a better safety profile than commonly used off-label injected corticosteroids. Semnur's successful Phase 1/2 bridging study in patients with lumbar radicular pain achieved its primary pharmacokinetic endpoint of an extended product residency time at the site of injection, as well as demonstrated that a single injection of SP-102 led to over 30% improvement in leg and back pain over 30 days. Semnur's pivotal Phase 3 CLEAR trial is designed to satisfy regulatory requirements for a 505(b)(2) new drug application with the FDA.
About Lumbar Radicular PainIn the U.S., more than 30 million people live with low back and radicular pain, with this population expected to grow in the low-single digit percentages annually.1 Pain is one of the most common reasons people seek medical treatment. Low back pain is the second most common cause of disability for adults in the U.S.. Approximately 149 million work days are lost every year because of low back pain, with total costs estimated to be $100 to 200 billion a year (of which two-thirds is due to lost wages and lower productivity).2 There is a great need for highly effective analgesic medications to provide relief without the toxicity and tolerability challenges of NSAIDs and opioids. Opioid prescriptions account for about 60 percent of the chronic pain market and carry a well-known risk of abuse and misuse, underscoring the need for alternative pain therapies without the medical and societal challenges.3
About Semnur Pharmaceuticals, Inc.Semnur Pharmaceuticals, Inc. is a clinical-stage specialty pharmaceutical company based in Mountain View, CA, focused on the development and commercialization of best in class novel non-opioid pain therapies. Semnur's lead program, SP-102, is a non-opioid novel gel formulation administered epidurally in development for patients with moderate to severe chronic radicular pain/sciatica. For more information, visit www.semnurpharma.com or www.clearbackpainstudy.com. Follow us on LinkedIn, Facebook, Twitter, and Clear Back Pain Study.
Forward-Looking StatementsThis press release and any statements made for and during any presentation or meeting concerning the matters discussed in this press release contain forward-looking statements related to Semnur Pharmaceuticals, Inc. under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements regarding the outcome of the data from a clinical trial for SP-102, Semnur's prospects, future clinical trials and the results thereof, market and patient population trends, M&A strategy, and ability to accelerate the development of its lead program in the clinic. Risks and uncertainties that could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements, include, but are not limited to that SP-102 may not meet all endpoints of the clinical study and that the data may not support an NDA submission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release and we undertake no obligation to update any forward-looking statement in this press release except as may be required by law.
Company Contact:Stephen H. Ma Semnur Pharmaceuticals, Inc. 301 N. Whisman Rd, Suite 100Mountain View, CA 94043 Main: (888) 315-8706 Email: email@example.com
References(1) Jensen M, Brant-Zawadzki M, Obuchowski N, et al. Magnetic Resonance Imaging of the Lumbar Spine in People Without Back Pain. N Engl J Med 1994; 331: 69-116. (2) World Health Organization: Priority Medicines for Europe and the World Update Report, 2013; Background Paper 6.24, Low Back Pain (3) National Institutes of Health 2011: Opioids for Back Pain Patients – Primary Care Prescribing Patterns and Use of Servi
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