Channel Bytes November 25, 2022 – HP announces layoffs; Charli AI launches generative AI platform; Key Toronto datacentres may be for sale; and more

Staying informed is a constant challenge. There’s so much to do, and so little time. But we have you covered. Grab a coffee and take five while you nibble on these tidbits.

Reddit welcomes two global VPs

Social media company Reddit has announced two new senior leaders: Stephen Riad, vice president (VP) of global mid-market and SMB sales, and Roelof van Zwol, VP of ads engineering. These new roles will be dedicated to strengthening Reddit’s sales and advertising business. Riad previously held a senior position at Google, overseeing sales and business growth, and Zwol has held senior roles at Pinterest, Netflix and Yahoo.

Riad also has over 20 years of machine learning experience and will be responsible for building the architecture that powers Reddit’s Ads Marketplace.

Boomerang expands its offering to Asia-Pacific and Europe

Boomerang, a Toronto-based integrated practice management software, digital marketing, and educational solution provider to the private-pay aesthetic medicine industry, is expanding its reach beyond North America to include Asia-Pacific and Europe.

The company’s cloud-based educational platform, BoomerangFX LEARN, recently surpassed 10,000 participants worldwide. It contains videos and webinars, certification programs, and content that cover a wide spectrum of training techniques and foundational business principles on how to launch, advertise, build, and manage a successful med spa practice.

HP to lay off up to 6,000 staff

HP Inc. has announced that it will lay off between 4,000 and 6,000 staff as a cost-cutting measure aimed at adding $1.4 billion to its bottom line.

The announcement accompanied HP’s fourth-quarter results.  Fourth quarter revenue fell by 11 per cent to $14.8 billion, with $1.3 billion of operating profit. Revenue for the year dropped one per cent to $63 billion, for an operating profit of $6.6 billion.

Printers made the major contribution to profits, with $3.7 billion profit on $18.9 billion in revenue.  PC revenue was $44 billion, almost double the printer revenue, but contributed much less to profit, with $2.9 billion.

(all dollar amounts are in USD)

Charli AI's Ancaeus platform brings generative AI to the enterprise

Vancouver-based Charli AI has launched Ancaeus, its new generative AI platform for the enterprise. Designed for cross-functional use, according to the company “ it can discover, understand, and use facts extracted from millions of pieces of content to generate insights, spreadsheets, presentations, and well written natural language reports that can be circulated, reviewed and integrated with third party applications.”

“Companies have spent billions on narrowly focused AI solutions with limited and siloed success,” said company founder and chief executive officer (CEO) Kevin Collins. “Traditional AI deployments require an enormous amount of data, an army of highly skilled staff to implement, and have prohibitive ongoing maintenance costs as the data gets stale and models need to be retrained and redeployed.”

Allied REIT considering selling Toronto datacentres

Allied Properties Real Estate Investment Trust (REIT) has confirmed that it is considering selling its Toronto urban datacentre portfolio, valued in its Nov. investor presentation at C$1.3 billion. It currently owns three properties, including 151 Front St. W., where key occupants include Bell, Equinix, Digital Reality, and Cologix, 250 Front St. W., housing what it refers to as “global technology providers”, and 905 King St. W., home to Cologix, Beanfield, and another unnamed global technology provider.

“Allied regularly reviews and evaluates strategic opportunities that Management believes could be in the best interest of Allied and its stakeholders,” the company said in a release. “Allied has not entered into an agreement to effect any particular transaction related to its UDC portfolio, and there can be no assurance that the current exploration will result in a decision to enter into any transaction.”

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Lynn Greiner
Lynn Greiner
Lynn Greiner has been interpreting tech for businesses for over 20 years and has worked in the industry as well as writing about it, giving her a unique perspective into the issues companies face. She has both IT credentials and a business degree

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