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Exam Code: C2040-405 Practice test 2022 by team
C2040-405 IBM Notes and Domino 9.0 Social Edition System Administration Update

Exam Title : IBM Certified Advanced Application Developer - Notes and Domino 9.0
Exam ID : C2040-405
Exam Duration : 75 mins
Questions in test : 48
Passing Score : 70%
Official Training : TLCC's Notes Domino 9.0 System Administration Update distance learning course
Exam Center : Pearson VUE
Real Questions : IBM Notes and Domino Social Edition System Administration Update Real Questions
VCE practice questions : IBM C2040-405 Certification VCE Practice Test

General Administration
- Implement Group Messages by Date, Abbreviated Dates and Snippets features
- Use server group names and pattern matching characters in Program documents
- Use "Mark new contacts as private by default" in desktop policy document
- Set policy settings for return receipts
- Understand and configure Database Maintenance Tool (dbmt)
- Understand and configure Quality of Service (QoS)
- Configure policy settings documents
- Understand client features introduced in IBM Notes 9.0

Install and Configure
- Configure IBM Connections Files with IBM iNotes
- Configure IBM Domino Social Edition Open Social Component for IBM iNotes clients
- Configure OpenSocial components
- Configure widget catalog
- Install and configure IBM Notes Browser Plug-in
- Render embedded experiences in IBM Notes mail

- Configure IBM HTTP Server on an IBM Domino server
- Configure IBM Domino to Use IBM Tivoli Federated Identity Manager as the identity provider
- Integrate IBM Docs with IBM iNotes
- Integrate IBM Sametime with IBM iNotes and IBM Notes

- Configure and setup SAML
- Configure TLS
- Understand how to use a credential store application
- Understand Secure Hash Algorithm-2 (SHA-2)
- Understand uses of SAML
- Use SAML to configure federated identity authentication

- Configure the Fault Analyzer task
- Troubleshoot the widget catalog, locked domains, and the IBM Domino OpenSocial Component
- Troubleshoot SAML

IBM Notes and Domino 9.0 Social Edition System Administration Update
IBM Administration Topics
Killexams : IBM Administration courses - BingNews Search results Killexams : IBM Administration courses - BingNews Killexams : IBM report shows cyberattacks growing fast in number, scale No result found, try new keyword!A new report out of IBM shows that when it comes to the rising threat of data breaches, it’s the consumer – not the company – fronting the price tag. Fri, 29 Jul 2022 22:30:00 -0500 text/html Killexams : The 59 most important VCs in New York, according to other VCs

Hayley Barna, First Round Capital

Hayley Barna, who cofounded Birchbox, is a partner at First Round Capital.
Brian Ach/Getty

Hayley Barna got one of the first checks for her startup, the beauty subscription company Birchbox, from First Round Capital. Now, she's a partner at the firm. She's made investments in companies such as Mirror, Thirty Madison, and Caper, which Instacart bought for $350 million in October.

After leaving Birchbox in 2015, Barna was initially reluctant to become a VC. In her bio on the seed-stage firm's website, she wrote, "I so valued being a part of the First Round community that I wanted to remain a part of it and supply back to it."

Olivia Benjamin, Operator Partners

At Operator Partners, Olivia Benjamin made an early investment in Whatnot, which is now worth $3.7 billion.
Olivia Benjamin

Olivia Benjamin's career path has been described as a "rocketship." As an analyst at Goldman Sachs, she drew early attention as a member of the winning team for the bank's impact fund competition. She then joined Bain Capital Ventures, where she worked with companies such as Mirakl, which makes software for online marketplaces and is now worth $3.5 billion.

Benjamin's work at Bain grabbed the attention of Nat Turner and Zach Weinberg, the cofounders of Flatiron Health, who tapped her as a partner for their new VC firm, Operator Partners, in 2020. Her deals there include an investment in the retail livestreaming company Whatnot, which is now worth $3.7 billion.

Jesse Beyroutey, IA Ventures

Jesse Beyroutey's arrival at IA Ventures "changed the firm as we knew it," the firm's founder, Roger Ehrenberg, wrote.
Jesse Beyroutey

Jesse Beyroutey joined IA Ventures in 2011 fresh out of the University of Pennsylvania's management and technology program. Over the next few years, he made his mark on the then-fledgling VC firm, backing startups such as Komodo Health and Ironclad. 

At IA, Beyroutey and his partners took a unique approach, applying principles of game theory to evaluate which startups have the potential to dominate their industries. In 2021, when Roger Ehrenberg, IA's founder, retired, he named Beyroutey and Brad Gillespie as the firm's new heads.

"We had the great fortune of meeting a then 22-year-old Jesse Beyroutey, and that changed the firm as we knew it," Ehrenberg wrote upon his retirement in September.

John Borthwick, Betaworks

John Borthwick's Betaworks has backed companies such as Twitter and Venmo.

John Borthwick's Betaworks helped power the second wave of internet startups in the mid-to-late 2000s. Borthwick founded the venture studio and VC firm after selling a previous startup to AOL, working as an executive at Time Warner, and launching an early photo-sharing site.

Since 2008, Betaworks has built or invested in companies such as Twitter, Tumblr, Chartbeat, Venmo, and Giphy. More recently, it has backed startups such as Gimlet, Rec Room, Hugging Face, and Superplastic.

Peter Boyce II, Stellation Capital

Peter Boyce II, founder of the VC firm Stellation Capital.
Stellation Capital

When he was a student at Harvard, Peter Boyce II founded two campus organizations focused on entrepreneurship and investing. It's no wonder then that as a partner at General Catalyst, he cofounded the firm's student-run investment fund, Rough Draft Ventures.

As an investor, Boyce has worked with companies such as Ro and Mark43. Earlier this year, he left General Catalyst to launch his own pre-seed and seed-stage VC firm, Stellation Capital. His investments at Stellation include Hopscotch, which makes a payments system for small businesses, and Bods, where online shoppers can create avatars to try on clothing virtually.

Sandy Cass, Red Swan Ventures

Sandy Cass wrote early checks into Bonobos, Artsy, and Coinbase.
Sandy Cass

Sandy Cass joined Bonobos and Artsy after writing early checks into both companies. But he eventually decided to focus more on backing and advising founders rather than serving in executive roles.

"My skill set and passion is more about helping founders realize their vision," he told Insider. "I realized that my day job was starting to get in the way of investing."

He's now a managing partner of Red Swan Ventures, alongside Bonobos founder Andy Dunn, whom Insider named to its Seed 100 list of the top early-stage investors. Red Swan's list of big exits include Coinbase, Warby Parker, and Oscar Insurance.

Nisha Dua, BBG Ventures

Nisha Dua cofounded BBG Ventures, which has backed the unicorn Spring Health.
BBG Ventures

Nisha Dua's path to becoming a prolific backer of female founders started at the AOL Brand Group. A former lawyer and management consultant, she worked with the longtime media executive Susan Lyne and created a site called Built By Girls, focused on encouraging young women to pursue careers in technology.

Through the site, Dua and Lyne spotted an opportunity to support female tech founders with greater access to capital, and the two decided to launch a fund. Originally under AOL's umbrella, the firm spun out in 2019. Its investments include Spring Health, Zola, CanelaTV, and The Mom Project.

Anu Duggal, Female Founders Fund

Anu Duggal launched Female Founders Fund in 2014.
Female Founders Fund

Anu Duggal launched Female Founders Fund following her own experience running a venture-backed startup, the private-sale company One thing she noticed: She was a relative rarity, given that a slim portion of venture funding went to women.

Since 2014, Female Founders Fund has backed women-led startups such as Eloquii, Rent the Runway, Hued, and Maven Clinic, which notched a $1 billion valuation last year.

Esther Dyson, angel investor

Esther Dyson has invested in companies such as 23andMe and Block.
Esther Dyson

Esther Dyson is an OG in the tech scene. She served as the founding chair of the Internet Corporation for Assigned Names and Numbers, which manages key processes that control the internet. She also once chaired the Electronic Frontier Foundation.

Dyson is now the founder of Wellville, a nonprofit project focused on health and equity in five US communities. She's a prolific investor as well, backing companies such as 23andMe, Meetup, Evernote, and Block. Earlier this year, she made Insider's Seed 25 list of the top female early-stage investors.

Dyson started her career in a decidedly low-tech role, as a fact-checker at Forbes magazine. She told Insider, "That role is one of the best preparations I could imagine for almost any career."

Stuart Ellman, RRE Ventures

Stuart Ellman cofounded RRE Ventures, one of the oldest VC firms in New York, in 1994.
Stuart Ellman

Stuart Ellman said he didn't consider himself a technologist. But he's had an outsize role in fueling New York's tech scene for almost three decades.

Ellman, who in May made Insider's Seed 100 list of top early-stage investors, cofounded RRE Ventures in 1994 with Jim Robinson, his classmate from Harvard Business School. Since then, Ellman has raised eight funds totaling more than $2 billion, and he's backed companies such as Bark, Giphy, Venmo, and Fi. He was also an early investor in Insider.

Jenny Fielding, The Fund

As a managing director of Techstars, Jenny Fielding spotted promising startups such as Alloy and Chainalysis early on.

Through her former role as a managing director of Techstars, Jenny Fielding became one of the most well-connected investors in New York. At the accelerator, she backed companies such as Alloy, Latch, and Chainalysis, all of which have gone on to become unicorns.

Having been a founder herself, Fielding invests with the mindset of a company operator. In that vein, she launched The Fund with a group of founders and startup executives in 2018. The VC firm has since backed more than 200 companies.

Shana Fisher, Third Kind Venture Capital

Shana Fisher was an early investor in Pinterest.
Brian Ach/Getty Images

Shana Fisher has shunned the spotlight, but she's long been a fixture of New York's tech-investing scene.

She attended New York University's Interactive Telecommunications Program — the same place where Dennis Crowley hatched the precursor to his company Foursquare — and got her feet wet in tech mergers and acquisitions, first at Allen & Co. and then at IAC.

Both as an angel investor and through her firm Third Kind Venture Capital, Fisher has been an early backer of startups such as Pinterest, ThredUp, Refinery29, and Notion. She's also a board partner at Andreessen Horowitz.

David Fiszel, Honeycomb Asset Management

David Fiszel's crossover fund has backed Klarna and Ramp.
Honeycomb Asset Management

An alum of Steve Cohen's hedge fund Point72, David Fiszel has joined the ranks of crossover fund managers who make both public and private investments. His investment firm Honeycomb Asset Management, which he founded in 2016, has backed Klarna, Ramp,, and Bombas, among other companies.

Fiszel told Insider that he first aspired to become an investor as a student at Stuyvesant High School, where he could overhear workers making their commutes to Wall Street. At Point72, where he worked from 2008 to 2015, he got his first exposure to private investments, including the firm's stakes in Facebook, Twitter, and Palantir.

Backing growth-stage startups isn't that different from investing in public companies, he said: "The learnings cross over."

Lee Fixel, Addition

Lee Fixel was a top dealmaker at Tiger Global. He's now on his own.

For more than a decade, Lee Fixel served as one of Tiger Global Management's top VC dealmakers. He led the firm's investments in Stripe, Roblox, and Freshworks, among others.

But in 2019, Fixel left to start his own firm, Addition. His firm has since backed startups such as Path Robotics and Lyra Health.

With his wife, Lauren, Fixel founded the Lauren and Lee Fixel Family Foundation, a major contributor to organizations conducting research on Parkinson's disease.

"We believe it is essential to invest in innovative research to develop groundbreaking treatments with the goal of curbing this debilitating illness," Fixel said in a statement when donating $20 million to the University of Florida and UF Health to establish an institute focused on researching the disease.

Mitchell Green, Lead Edge Capital

Mitchell Green's Lead Edge Capital has invested in Benchling, Bird, Spotify, and Uber.
Lead Edge Capital

A former alpine ski racer, Mitchell Green cut his teeth in venture capital at Bessemer Venture Partners. Now he has an arsenal of hits under his own firm, Lead Edge Capital, which he founded in 2009.

The firm's successful exits include Asana, Spotify, and Uber, and it's also invested in Benchling, Bird, and Toast.

Green attributed much of his success to cold-calling hot startups and slowly winning over the ones that initially turn down his overtures, as he told Insider's Julie Bort in October 2020. "We want the CEOs who are like, 'I don't need your money. I don't want your money. I'm growing really fast,'" he said.

David Haber, Andreessen Horowitz

David Haber is Andreessen Horowitz's first full-time general partner in New York.
David Haber

David Haber became Andreessen Horowitz's first general partner in New York when he joined the firm in July 2021 from Goldman Sachs.

It's a return to his roots, so to speak: Haber started his career in venture capital, first as an associate at New Ventures and then at Spark Capital, where he helped source the firm's investment in Plaid. At Goldman, he harnessed that venture background to connect the investment bank with startups such as Carta and the Argentine banking app Ualá.

Haber is also an entrepreneur himself. He joined Goldman after the investment bank acquired his startup Bond Street, which provided lending services for small businesses. 

Matt Harris, Bain Capital Ventures

Matt Harris has invested in the fintech industry for more than two decades.
Bain Capital Ventures

During the chaos of the dot-com bust, Matt Harris had a hunch that startups would bring much-needed changes to the finance industry. For more than two decades, he's built his career around that thesis. At Bain Capital Ventures, which he joined in 2012 after previously running his own venture firm, Harris has backed companies such as Justworks, Flywire, Orum, and Finix. 

That deep experience in fintech has served as a calling card for Harris, a self-described introvert who told "The Twenty Minute VC" host Harry Stebbings in 2019 that he shies away from the social circuit. Instead, he said, he gains an edge through "ruthless priorization" — which also comes in handy for him as a father of six.

Rick Heitzmann, FirstMark Capital

Rick Heitzmann cofounded FirstMark Capital in 2008.
Ramin Talaie/Corbis/Getty Images

Rick Heitzmann has backed a steady string of hits since founding FirstMark Capital in 2008. Among his investments are DraftKings, Discord, Ro, and Crisp.

FirstMark has evolved quite a bit since its founding, Heitzmann told Insider. Originally an early-stage firm, it now invests in growth companies as well and has launched special purpose acquisition companies, too. (One of its SPACs took Starry Internet public in March.) But one thing hasn't changed: Heitzmann is still bullish on the local tech scene.

"The majority of our deals are in New York," he said. "The closer the companies are to our office, the easier it is to do a deal."

Eric Hippeau, Lerer Hippeau

Eric Hippeau, the former CEO of HuffPost, cofounded the VC firm Lerer Hippeau.
Lerer Hippeau Ventures

Before cofounding the venture firm that bears his name, Eric Hippeau had a long career as a media executive, including as the CEO of Ziff Davis Media and, later, The Huffington Post (now HuffPost). In 2010, he cofounded Lerer Hippeau with Ken Lerer, a HuffPost cofounder, and Lerer's son, Ben, the cofounder of Thrillist and former CEO of Group Nine Media.

Hippeau has a long track record of investing in media companies. He invested in HuffPost when he was a managing partner at SoftBank Capital, and at Lerer Hippeau, he's backed BuzzFeed, Axios, K Health, and Blockdaemon.

Aaron Holiday, 645 Ventures

Aaron Holiday has backed companies such as Goldbelly and Squire.
645 Ventures

Aaron Holiday began his career as an engineer on Goldman Sachs' program trading desk, which makes billions of dollars in trades each day. But now, as a venture capitalist and the cofounder of his own firm, 645 Ventures, he's not afraid to slow things down.

Even when venture capital funding soared to dizzying heights in 2021, he told Insider, he and his partner, Nnamdi Okike, stuck to their measured investment pace. It's an approach that since 645's founding in 2014 has helped Holiday spot breakout portfolio companies such as Iterable, Goldbelly, and Squire.

Jeff Horing, Insight Partners

Jeff Horing cofounded Insight Partners in 1995.
Insight Partners

Jeff Horing cofounded Insight Partners in 1995 after working at Warburg Pincus and Goldman Sachs. He's since backed more than 150 companies. Among his notable investments are Shutterstock, Alteryx, and SentinelOne.

Horing has a particular interest in startups based in Israel. Insight backed Wix and, for instance, which are both headquartered there, and the firm has an office in Tel Aviv.

Amish Jani, FirstMark Capital

FirstMark Capital's Amish Jani made Insider's Seed 100 list of top early-stage investors.
FirstMark Capital

Amish Jani cofounded FirstMark Capital with Rick Heitzmann in 2008. Since then, he's made investments in companies such as Brooklinen, Shopify, Bluecore, and, which Adobe acquired for nearly $1.3 billion last year. In May, Insider named Jani to its Seed 100 list of top early-stage investors.

Yet Jani isn't afraid to highlight his failing bets. His profile on FirstMark's website links to his postmortem blog post on one of his investments, Aereo, whose business model was effectively invalidated by the US Supreme Court.

Rebecca Kaden, Union Square Ventures

At Union Square Ventures, Rebecca Kaden has invested in companies such as Outschool and Modern Fertility.
Union Square Ventures

Growing up in New York, Rebecca Kaden once thought she'd be part of the city's bustling media scene. Instead, she's a partner at one of its most storied venture firms, Union Square Ventures. There, she's helmed investments in companies such as Outschool, Soona, and Modern Fertility, which Ro acquired in 2021.

A former journalist, Kaden began her investing career on the West Coast at the consumer-focused firm Maveron after graduating from Stanford's business school. She told Insider that a few aspects of her first career transferred to venture capital — namely, "the idea of forming relationships with people and getting them to trust you."

Jonathan Keidan, Torch Capital

Jonathan Keidan has already had two portfolio companies go public since founding Torch Capital in 2018.
Torch Capital

Jonathan Keidan founded Torch Capital just three and a half years ago, but he's already amassed some big exits. The firm backed Compass, Sweetgreen, and DigitalOcean, all of which went public in 2021.

Before becoming a VC, Keidan worked in the music industry and later at McKinsey & Co. He also cofounded the digital media company InsideHook. He began making angel investments and then launched Torch, which is focused on consumer companies, with a $60 million fund.

In addition to the exits already under his belt, Keidan has backed Ro, Acorns, Tia, and Zocdoc.

Mo Koyfman, Shine Capital

Mo Koyfman, formerly a general partner at Spark Capital, founded Shine Capital in 2020.
Noam Galai/Getty Images

Mo Koyfman isn't one for being "loud on Twitter," as he told Insider — he prefers the founders he backs to get the spotlight. He's helped guide an array of startups dating back to the web 2.0 era of the mid-2000s.

After a stint at the now defunct investment bank Bear Stearns, Koyfman started his career in tech at IAC, serving as COO of the subsidiary that ran Vimeo and CollegeHumor. In 2008, he left to join Spark Capital, where he backed Sift, Skillshare, Plaid, and Warby Parker.

In 2020, Koyfman launched his own early-stage firm, Shine Capital, which has invested in companies such as Kinta AI, TryNow, Kingdom Supercultures, and Meow.

Josh Kushner, Thrive Capital

Josh Kushner founded Thrive Capital when he was 25 years old.
Alo Ceballos/GC Images

Josh Kushner has plenty of high-wattage connections. He's married to model Karlie Kloss, and his brother, Jared, figured prominently in the administration of former President Donald Trump. But he's a quiet power player in New York's VC scene through his firm Thrive Capital, which he founded in 2010 when he was 25 years old.

At Thrive, Kushner has backed companies such as Instagram, Oscar Insurance, Airtable, and Compass. The firm, which started with a $5 million fund, now commands roughly $16 billion in assets under management.

Addie Lerner, Avid Ventures

Addie Lerner's venture firm, Avid Ventures, has the unicorn companies Alloy and Oyster in its portfolio.
Avid Ventures

Addie Lerner cut her teeth in growth investing at Goldman Sachs and General Atlantic, where she worked under the renowned investor Anton Levy. At her next stop, General Catalyst, she backed companies such as Rapyd and Chief.

Now, she's the founder and managing partner of Avid Ventures, an early-stage firm launched in 2020. Lerner's investments include Alloy, Oyster — both now worth over $1 billion  — and Nava.

Jeremy Levine, Bessemer Venture Partners

Jeremy Levine backed LinkedIn, Pinterest, and Shopify during their early stages.

Jeremy Levine has backed a who's who of tech companies over his two decades as an investor at Bessemer Venture Partners.

The Duke alum joined the firm in 2001, right in the thick of the dot-com bust. Yet through his investments, he helped usher in the rise of new internet powerhouses such as Yelp, LinkedIn, Shopify, and Pinterest.

Levine focuses mainly on early-stage investments. He said he's willing to take a light-handed approach with talented founders who may be on the fence about heavy VC involvement — and he even writes angel-size checks. "It's like dating, getting to know each other and building chemistry over a longer period of time," he said.

Anton Levy, General Atlantic

Anton Levy, who heads General Atlantic's technology investments, says he has "always been a bit of a computer geek."
General Atlantic

Anton Levy grew up loving computers and in college discovered a passion for finance. As the co-president, managing director, and global head of technology at General Atlantic, he has deftly combined those interests.

He's led deals in companies such as Airbnb, Uber, Klarna, Gilt Groupe, and Squarespace over his 24 years at the growth investment firm and has been a mainstay on Forbes' Midas List of the top venture capitalists since 2014.

"What really drove me, ultimately, on my path is that I've always been a bit of a computer geek," he told "The Twenty Minute VC" host Harry Stebbings in October.

Jeff Lieberman, Insight Partners

Jeff Lieberman backed Qualtrics, which SAP bought for $8 billion in 2018.
Insight Partners

Jeff Lieberman joined Insight Partners in 1998, after a two-year stint at McKinsey & Co. He focuses on investments in internet and software companies, and he's led deals across four continents, Insight said.

Some of Lieberman's notable investments include Mural, HelloFresh, and Udemy.

Another of his signature deals was Qualtrics. In a video posted last year, Lieberman described meeting the company's CEO, Ryan Smith, in 2015 and the path to the company's sale to SAP for $8 billion in 2018.

"The sale to SAP represents the largest privately held, VC-backed software exit in history," Lieberman said.

Jessica Lin, Work-Bench

Jessica Lin, cofounder of the VC firm Work-Bench, is an advocate for increasing the number of women in enterprise technology.

Jessica Lin got her first taste of the tech world as a student at Harvard, where she helped develop an energy-generating soccer ball that gained accolades from Popular Mechanics. The experience led her to pursue tech as a career — a detour from her original dreams of working in public health.

After two years working at Cisco, Lin teamed up with Jonathan Lehr to cofound Work-Bench, a seed-stage venture firm focused on enterprise technology. In addition to backing companies such as Spring Health, Catalyst, Octane, and RippleMatch, she's also become a strong advocate of gender equity in the industry: Work-Bench maintains a list and community of women in enterprise tech and issues regular reports on the topic.

Susan Lyne, BBG Ventures

Susan Lyne, a longtime media executive and the former chair of Gilt Groupe, cofounded BBG Ventures in 2014.
BBG Ventures

Before she moved into venture capital, Susan Lyne had a storied career in media as an executive at Disney, ABC, Martha Stewart Living Omnimedia, and AOL. She also served as the CEO and later chair of the ecommerce company Gilt Groupe.

Through those experiences, she saw firsthand how challenging it could be for women business leaders, especially in raising money for their companies to grow. With Nisha Dua, she launched BBG Ventures — whose name is inspired by Built By Girls, the AOL-backed site they ran — in 2014. BBG is now one of the most established VC firms focused on women-led businesses, having raised a third, $50 million fund in March 2021.

Nihal Mehta, Eniac Ventures

Nihal Mehta cofounded Eniac Ventures alongside three of his classmates from the University of Pennsylvania.
Eniac Ventures

Before he became a VC, Nihal Mehta racked up plenty of experience founding startups. He launched and served as the CEO for five companies.

That background has come in handy in Mehta's present work at Eniac Ventures, where he's known as the "human Rolodex," the firm's website said. In 2009, he cofounded Eniac Ventures with three of his classmates from the University of Pennsylvania. He's backed companies such as Admob, Alloy, Attentive, Tala, and Uber.

Mehta is married to Reshma Saujani, who's also a formidable presence in New York's tech scene: She's the founder of the nonprofit Girls Who Code.

Amy Nauiokas, Anthemis Group

Amy Nauiokas, a cofounder of the fintech-focused VC firm Anthemis Group, also runs a media production company.
John Phillips/Getty Images

These days, fintech is perhaps the hottest area of venture capital. Amy Nauiokas, the cofounder and co-chief investment officer of Anthemis Group, has been focused on investments in the space for more than a decade.

She launched the firm in 2010, just after the financial crisis — a particularly difficult time to convince investors of the benefits of new technologies and tools for the industry, she told Insider. Since then, Anthemis has built up a portfolio of notable companies, such as Betterment, Carta, Pipe, Branch Insurance, and Rally.

In addition to her work as a VC, Nauiokas also founded the media production company Archer Gray, whose projects include the Tony-winning musical "Once" and the Independent Spirit Award-winning film "The Diary of a Teenage Girl."

Jerry Neumann, Neu Venture Capital

Jerry Neumann has invested in Datadog, The Trade Desk, and Clubhouse Software.
Jerry Neumann

Jerry Neumann entered the tech industry straight out of college, as an engineer at IBM working on mainframe computers. He got his start in venture capital by seeding digital agencies at Omnicom. He later spun out the agency's portfolio as part of his own firm.

Neumann founded Neu Venture Capital in 2008. Since then, he's backed companies such as The Trade Desk, Datadog, BankSimple, and Scoot Science.

Charlie O'Donnell, Brooklyn Bridge Ventures

Charlie O'Donnell, the founder of Brooklyn Bridge Ventures, organizes tech dinners throughout the various neighborhoods of New York City.

Charlie O'Donnell is perhaps one of the biggest boosters of New York's tech scene. In addition to making investments in local startups, he organizes dinners throughout the city's neighborhoods for people in the industry. He also compiles a newsletter of New York tech events.

O'Donnell, a Brooklyn native, got his start in investing while working at General Motors' pension fund. Eventually, he sought to invest at earlier stages, which led him to Union Square Ventures — then in its early days. In 2012, he launched Brooklyn Bridge Ventures, which focuses on pre-seed and seed-stage startups in the New York area.

Among his investments are Hungryroot, Petal, and Clare.

Chris Paik, Pace Capital

Chris Paik previously worked at Josh Kushner's Thrive Capital before launching Pace Capital.
Chris Paik

Chris Paik entered New York's tech-investing scene with a bang just over a decade ago. He made his mark by leading Thrive Capital's investment in Twitch, which Amazon acquired in 2014 for $970 million, and assisting in the firm's investment in Instagram. Insider named him one of New York's rising VC stars in 2014.

Since then, Paik has set out on his own, launching the fund Pace Capital alongside Jordan Cooper, an alum of Lerer Hippeau, in 2019. Paik has backed companies such as Patreon, SchoolHouse, and Beam.

Deven Parekh, Insight Partners

Deven Parekh's investments include Twitter, Alibaba, and Calm.
Noam Galai/Getty Images

Since joining Insight Partners in 2000, Deven Parekh has made more than 130 investments and racked up an extensive portfolio of big wins, including Twitter, Alibaba, and He's also invested in companies such as Calm,, and Fanatics.

Outside of his day-to-day work, Parekh serves on the board of directors of the US International Development Finance Corporation, the US government's development bank for lower-income and middle-income countries. Last year, he won a Ripple of Hope Award from the nonprofit organization Robert F. Kennedy Human Rights.

Jeremy Philips, Spark Capital

Jeremy Philips has backed companies such as Affirm, Ramp, and Coinbase.
Spark Capital

Long before he became a VC, Jeremy Philips got firsthand experience of taking a company to an IPO in Australia, his home country. In his role as a partner at Spark Capital, he's now shepherding founders who are aiming to do the same.

Since 2014, when he joined Spark to lead its expansion into growth investments, he's backed companies such as Affirm, Ramp, Slack, and Coinbase.

In his previous career, Philips launched an internet company called Ecorp, which went public on the Australian Stock Exchange in 1999. Now, in addition to investing, he teaches classes at Columbia Business School, where he's an adjunct professor.

Aniq Rahman, Vast Ventures

Aniq Rahman has invested in Acorns, Carta, and LiveRamp.
Patrick McMullan/Getty Images

Aniq Rahman is prolific both in leading companies and backing them.

He last served as president of the cloud-analytics company Moat, which Oracle acquired in 2017. He's also founded other companies, including one in stealth.

As a VC, he's a managing partner at Vast Ventures, which had six companies in its portfolio go public in 2021, including Ginkgo Bioworks, Coinbase, and Clover Health. Rahman has personally invested in startups such as Acorns, Carta, and LiveRamp.

Bryan Rosenblatt, Craft Ventures

Bryan Rosenblatt, a partner at Craft Ventures, has invested in Dapper Labs and Orum.
Craft Ventures

Bryan Rosenblatt has had stints helping to build out New York teams for Bay Area companies. Now, as a partner at Craft Ventures — the VC firm founded by David Sacks, the Yammer founder and member of the "PayPal mafia" — Rosenblatt is working to grow the firm's East Coast presence.

Prior to joining Craft, Rosenblatt worked on the East Coast teams at Twitter and Reddit. Now, he's backed startups such as Dapper Labs, Orum, Eight Sleep, and Citizen. In 2021, he made Insider's Seed 100 list of the top early-stage investors.

Micah Rosenbloom, Founder Collective

Micah Rosenbloom leads Founder Collective's New York office.
Founder Collective

Micah Rosenbloom had multiple startups under his belt by the time he cofounded his VC firm in 2010. In fact, that's the premise of the Founder Collective firm: Each of its partners, including Rosenbloom, has personal experience building a company.

At Founder Collective, Rosenbloom has backed companies such as Dia & Co., as well as Plated and Sense360, which have both since been acquired. As a three-time entrepreneur, Rosenbloom has firsthand experience with exits: He sold Brontes Technologies, a 3D-scanning company, to 3M; and the food-safety company Sample6 Technologies to IEH.

Katie Shea, Divergent Capital

Divergent Capital's Katie Shea has deep roots in the consumer industry: In college, she built an accessories business.
Katie Shea

Katie Shea got her start in the retail and consumer industry building a women's fashion accessory business out of her dorm room at New York University. She's been in the field ever since, and it's given her a keen eye for the next big consumer brands. Her angel investments include the popular apparel brands Bombas and Parade.

Shea started her VC career at the venture studio Kairos, where she spun out the pre-seed fund K50 Ventures, and in 2021 launched the firm Divergent Capital, whose portfolio companies include the edtech startup EdSights and the skincare company Topicals.

Ian Sigalow, Greycroft

Ian Sigalow cofounded Greycroft in 2006.
Ian Sigalow

Ian Sigalow entered venture capital fresh out of MIT in 2001. Five years later, he set off to launch his own firm.

That firm, Greycroft, now has more than $2 billion in capital commitments and has made more than 200 investments. Sigalow has led the firm's deals in companies such as Venmo, Flutterwave, Public, and Branch.

Sigalow is keenly interested in fintech, and recently he's become particularly focused on finding promising startup founders around the world, especially within that sector, Greycroft told Insider.

Arianna Simpson, Andreessen Horowitz

A trip to southern Africa launched Arianna Simpson into a career in crypto. She's now a general partner at Andreessen Horowitz.
Andreessen Horowitz

"Into crypto way before it was cool," says Arianna Simpson's Twitter profile. Simpson first started thinking about the benefits of cryptocurrencies after a trip to southern Africa nearly a decade ago. That led her into a career in Web3, first as a startup employee and now as an investor.

In 2020, Simpson joined Andreessen Horowitz's crypto arm, and last year, she became a general partner at the firm. Her investments there include the popular Web3 game Axie Infinity, the non-fungible token company Autograph, and the decentralized-finance company Goldfinch.

Caitlin Strandberg, Lerer Hippeau

Caitlin Strandberg joined Lerer Hippeau in 2018.
Lerer Hippeau

In her time at Lerer Hippeau, Caitlin Strandberg has developed an eye for backing Gen Z and family-oriented consumer brands. Her investments include Topicals, Cake, Parade, Camp, and Onward.

Strandberg joined Lerer Hippeau in 2018 from another New York firm, FirstMark Capital, where she was a vice president. She started her career working in business development at two startups, Behance and LearnVest.

Ben Sun, Primary

Ben Sun has invested in companies such as Coupang and Ollie.
Primary Venture Partners

Ben Sun teamed up with Brad Svrluga to launch Primary in 2015. He's since led the firm's investments in companies such as Coupang, Chief, K Health, Slice, and Mirror.

Back when he cofounded Primary, Sun told Insider, his peers thought he was "insane" for building a firm around seed-stage startups in New York. At the time, the biggest exit was Yahoo's $1.1 billion acquisition of Tumblr in 2013, and some investors were still skeptical on the city's tech scene. But now New York hosts public tech companies such as as UiPath, Compass, and Latch, one of Primary's past investments.

"NYC had almost 30 tech IPOs last year alone, and success breeds success," he wrote in an email.

Dan Sundheim, D1 Capital Partners

Dan Sundheim's D1 Capital Partners has backed Robinhood and Snowflake.
Will Ragozzino/Patrick McMullan via Getty Images

Dan Sundheim, who's been dubbed the "LeBron James of investing," leads D1 Capital Partners, which has made its fair share of notable private investments. It's backed Warby Parker, Robinhood, Snowflake, and Instacart.

Sundheim cut his teeth on Wall Street at Bear Stearns and Viking Global Partners. In his spare time, he's an avid art collector who owns works by Andy Warhol and Jean-Michel Basquiat. 

Brad Svrluga, Primary

Brad Svrluga cofounded the VC firm Primary in 2015.

Brad Svrluga started his career as a consultant and began investing in startups at the tail end of the dot-com boom. He launched his first venture firm in 2003 and made early investments in companies such as Ticketfly and TxVia.

Svlruga now focuses on enterprise apps and healthcare IT companies at his VC firm Primary, which he cofounded with Ben Sun in 2015. At Primary, he's backed companies such as Alloy, Electric, and K Health, all of which are unicorns, and Latch, which went public in 2021. 

Jarrid Tingle, Harlem Capital

Jarrid Tingle cofounded Harlem Capital in 2015.
Harlem Capital

Jarrid Tingle launched his venture fund, Harlem Capital, out of his living room. He and cofounder Henri Pierre-Jacques came up with the idea after noticing the dearth of Black investors in venture capital. They originally made angel investments. Then in November 2019, they raised their first $40 million fund.

At Harlem Capital, which in 2021 closed a $134 million fund, Tingle has backed companies such as Cashdrop, Wagmo, and 4Degrees.

David Tisch, BoxGroup

David Tisch's BoxGroup was an early investor in Airtable, Plaid, and Ro.
Sarah Jacobs

David Tisch comes from a family of prominent New York businessmen. Over the past decade and a half, he's made a big mark in the city's tech scene, as the founder and past managing director of TechStars NYC and as the founder and managing partner of the VC firm BoxGroup.

At BoxGroup, Tisch has backed companies such as Airtable, Ro, Titan, and Plaid. He also cofounded the e-commerce startup Spring, which ShopRunner acquired in 2018.

Nat Turner, Operator Partners

Nat Turner has invested in Bark, Plaid, and Clover Health.
Flatiron Health

Before he turned to investing, Nat Turner gained plenty of cred as a startup founder, alongside his business partner Zach Weinberg. The duo cofounded two companies: Invite Media, which Google bought for $81 million in 2010, and Flatiron Health, which the pharmaceutical giant Roche bought for $1.9 billion in 2018.

After selling their companies, the two turned their attention to the VC world, launching the firm Operator Partners. Turner has also backed hundreds of startups as an angel investor, including Bark, Plaid, and Clover Health.

Alexa von Tobel, Inspired Capital

Alexa von Tobel founded the VC firm Inspired Capital a few years after selling her startup, LearnVest.
Business Insider

Alexa von Tobel was an early founder in the nascent fintech category. Now, as a VC, she's backing potential standouts in the space.

Von Tobel launched LearnVest, a personal-finance site, in 2008. Northwestern Mutual later acquired the startup. As Northwestern Mutual's chief innovation officer, von Tobel began to dip her toes in investing through the insurance company's corporate venture fund, which backed fintech startups such as Chime.

Since 2019, von Tobel has run her own VC firm, Inspired Capital, which she launched alongside Penny Pritzker, the former US Secretary of Commerce. Its portfolio companies include Finix, Orum, and Habi.

Jesse Walden, Variant

Jesse Walden, an alum of Andreessen Horowitz, now runs the venture firm Variant, which raised a $110 million fund in 2021.

As he told Insider earlier this year, Jesse Walden didn't intend to become a venture capitalist. But as an early crypto founder-turned-investor, he's quickly made a mark in the world of Web3.

In 2020, after a stint at Andreessen Horowitz, Walden launched the venture firm Variant, which has backed boldfaced names in the crypto world such as Uniswap, Phantom, and Friends with Benefits. Last year, Variant raised a $110 million fund and brought on another Andreessen alum, Li Jin, who previously ran the VC firm Atelier Ventures.

Zach Weinberg, Operator Partners

Zach Weinberg cofounded Operator Partners with Nat Turner, his business partner at Flatiron Health.
Zach Weinberg

Zach Weinberg has a multi-hyphenate résumé. He has launched multiple startups, selling one for billions of dollars; he's backed a long list of startups as an angel investor; and he now owns an events space and dance club in the hip Williamsburg neighborhood of Brooklyn.

Alongside Nat Turner, Weinberg cofounded Invite Media and Flatiron Health and now runs the VC firm Operator Partners. Operator's portfolio includes Dapper Labs, Spring Health, and Whatnot.

Ellie Wheeler, Greycroft

Ellie Wheeler has invested in Parade and Hubble as a partner at Greycroft.
Steve Jennings/Getty Images for TechCrunch

Ellie Wheeler originally intended to become a doctor. But in her first semester of medical school, she quickly realized she wanted to do something else.

That "something else" turned out to be spotting emerging tech companies — first at Cisco, where she had a hand in the company's acquisitions of Xobni and Jabber, and then at Chris Sacca's VC firm Lowercase Capital.

Since 2011, Wheeler has been an investor at Greycroft, where she was named partner in 2015. She focuses on digital health and wellness companies and has backed companies such as Thirty Madison, Eden Health, Hubble, and Parade.

Jillian Williams, Cowboy Ventures

Jillian Williams joined Cowboy Ventures in 2021 from Anthemis Group.
Anthemis Group

In her six-year career in venture capital, Jillian Williams has already made a significant mark. As a principal at Anthemis Group, she led deals in Rally, Pipe, and Matic Insurance. In April 2021, she joined Aileen Lee's Cowboy Ventures, where she focuses on fintech investments.

Williams started her career as an analyst in Barclays' financial institutions group. She gained an edge by becoming familiar with startups, she told Insider, as her colleagues sought to wrap their heads around fintech companies such as Venmo. Soon she became fascinated with the burgeoning field.

"The earlier the companies were that I was meeting with, the more interesting I found it," she said.

Fred Wilson, Union Square Ventures

Fred Wilson cofounded Union Square Ventures in 2003.
Lucas Jackson/Reuters

Fred Wilson cofounded what is now considered one of New York's blue-chip venture firms, Union Square Ventures. He's backed startups for more than three decades and is married to a fellow investor, Joanne Wilson of Gotham Gal Ventures.

Wilson got his start in venture capital as an associate at the firm Euclid Partners, right after earning an MBA from Wharton. In the mid-1990s, he left to start his own firm, Flatiron Partners, which folded in the wake of the dot-com bust. His second go-round — at Union Square Ventures, which he cofounded in 2003 — has yielded big hits such as Twitter, Etsy, Kickstarter, Coinbase, and Duolingo.

Josh Wolfe, Lux Capital

Josh Wolfe cofounded Lux Capital in 2000.
Lux Capital

In 2000, Josh Wolfe cofounded Lux Capital, which focuses on funding companies capable of giant breakthroughs — akin to what Google calls "moonshots" — in areas such as biotech, artificial intelligence, aerospace, and defense.

Among Wolfe's investments are the defense AI company Anduril, space startup Hadrian, and 3D-printing company Shapeways, which went public in September 2021.

Wolfe grew up in the Coney Island neighborhood of Brooklyn. He told Insider his upbringing gave him a natural sense of skepticism that comes in handy for evaluating investments.

Thu, 21 Jul 2022 21:00:00 -0500 en-US text/html
Killexams : Dow Analyst Moves: IBM No result found, try new keyword!T he latest tally of analyst opinions from the major brokerage houses shows that among the 30 stocks making up the Dow Jones Industrial Average, International Business Machines is the #22 analyst pick ... Mon, 01 Aug 2022 03:46:00 -0500 text/html Killexams : Digital-Led and Innovation-Driven

Digital Finance Forum of Global Digital Economy Conference 2022 Kicked off

BEIJING, Aug. 1, 2022 /PRNewswire/ -- With the development of information technology, the world has entered the era of digital economy. The modern financial industry is one of the industries with the highest degree of digitization and the closest ties to the digital economy as well as an important driver of growth for the high-quality development of the digital economy.

The Digital Finance Forum of the Global Digital Economy Conference (hereinafter referred to as GDEC) 2022 kicked off in the Beijing Banking & Insurance Business Park in Shijingshan District on July 30. As an important part of the thematic forums of this GDEC, the Digital Finance Forum is organized by the Shijingshan District People’s Government of Beijing Municipality and Asia Digital Group. The forum, as a platform for in-depth exchange, centered on building a bridge for financial industries, driving financial innovation and digital strategic upgrade under the new dual-cycle pattern and helping the development of digital finance in China’s capital.

Wang Wei, First Class Inspector of Beijing Municipal Bureau of Economy and Information Technology, Zhao Weijiu, Member of Standing Committee of CPC of Beijing Local Financial Supervision and Administration, Deputy Director of Beijing Local Financial Supervision and Administration, Li Xin, Deputy Secretary of CPC Beijing Shijingshan District, Mayor of Shijingshan District People’s Government of Beijing Municipality, Zhu Dongfang, President of Asia Digital Group and other guests were present on site. Over 20 important guests in the financial sector from 10+ countries were invited to attend the forum offline or online to discuss the transformation of the digital financial industry with focus on the trend of digital finance. More than 100 visitors from financial institutions and enterprises joined the on-site events, supplemented with online links involving 1.2 million people.

Adopting the Market-Oriented Operation Led by Government

Nowadays, the digital economy with the deep integration of information technology and the real economy has become a global trend, and the corresponding financial digital transformation has also become the main task of financial industry transformation when the government-led and market-oriented operation plays an irreplaceable role.

According to the speech delivered by Wang Wei, First Class Inspector of Beijing Municipal Bureau of Economy and Information Technology, Beijing, centering on the construction of the national financial management center, will further promote the innovative practice of digital finance, in cooperation with the Beijing Local Financial Supervision and Administration to build a modern digital financial system in China’s capital, Excellerate the level of digital finance supporting the development of the real economy, and help the construction of Beijing into a global model city of digital economy. It is necessary to take such measures as supporting the implementation of key digital financial institutions and major projects, improving the digitalization of financial infrastructure, increasing the openness of public data and social data, accelerating the implementation of the Beijing Digital Economy Promotion Regulations, deepening the construction of the Beijing International Data Exchange and the Zone for Financial Data and providing data of higher quality as a key factor of production.

Zhao Weiju, Member of Standing Committee of CPC of Beijing Local Financial Supervision and Administration, Deputy Director of Beijing Local Financial Supervision and Administration, pointed out in his speech that Beijing’s fintech will take the deepening of digital industrialization and financial digitization as the main task, with focus on both the supply side and the demand side, supply full play to the synergistic effect of financial reform and financial opening and take stronger steps to enhance the innovation of a modern digital financial system that fits the positioning of the capital so as to build a strong and solid network for building Beijing into a benchmark city for the global digital economy. Great efforts will be made to foster the main body of the digital financial industry, strengthen the R&D and innovation of digital financial technology, expand the experience of the digital financial application scenarios, construct and Excellerate the supervision system of digital finance, and optimize the industrial layout of digital finance.

Li Xin, Deputy Secretary of CPC Beijing Shijingshan District, Mayor of Shijingshan District People’s Government of Beijing Municipality, noted in his speech that Shijingshan District has seized development opportunities and issued the Five-Year Plan for Digital Economy, in alignment with the development orientation of the Beijing Banking & Insurance Business Park given by the State Council to build a National Financial Industry Demonstration Zone. In this way, the financial digital transformation is regarded as the support of strategic importance for the development of regional digital economy. In order to further promote the development of digital finance, Li Xin proposed four guarantees, that is, building a consensus on cooperation to promote the development of digital finance, creating an ecological environment conducive to the its development, fostering new drivers of growth for digital finance and constructing the “circle of friends” of digital finance.

Jointly Exploring the Path to Future via Exchange of Ideas

Lenny Zhao, Vice President and Head of Visa Consulting and Analytics (VCA), Visa Greater China, delivered a speech themed as “Responsible Innovation Fostering the Sustainable Development of Digital Payment”, reflecting the thinking and commitment of the world’s leading digital technology companies to digital payment security to advance the sustainable development of the digital economy.

Fan Bin, VP & Senior Partner, IBM Consulting Greater China Group, General Manager, IBM Consulting China Financial Service Sector, delivered a speech on the theme of “Let’s Create a Digital Finance New Era”, and Jin Songhua, CFO of Microsoft Greater China talked about “AI Empowers Innovation for Sustainable Growth”, both expounding their ideas for the future of new digital finance, and sharing their experience in the development of digital finance in related industries. Fiona Ma, Treasurer of California, USA, Tom Simpson, Managing Director, China Operations & China Chief Representative China-Britain Business Council, Arno Oudijn, Financial Counsellor at the Netherlands Embassy and Kasia Greco, Vice President, Vienna Chamber of Commerce & Industry delivered speeches on courses such as “UK-China Digital Finance Overview and Outlook” and “Fintech Developments, an Outsiders’ Perspective”. They have explored new trends and hot issues in the development of digital finance from a broader perspective beyond the industry to seek for opportunities to deepen cooperation and development with digital finance in China.

The roundtable discussion around “Critical Thinking with Digital Intelligence to Reconstruct Financial” was moderated by Zhang Li, executive vice president of Asia Digital Group. A lively discussion on digital intelligence, the core of the transformation of the digital financial format was presented among guests including Li Xianxia, Member of Standing Committee of CPC Beijing Shijingshan District, Deputy Mayor of Shijingshan District People’s Government of Beijing Municipality, Li Wenhua, Deputy Mayor of Shijingshan District People’s Government of Beijing Municipality, Zhang Ning, Director of the Central University of Finance and Economics, Liu Dongmin, Director of the Division of International Finance, Institute of World Economics and Politics, Chinese Academy of Social Sciences, Li Junping, Vice President of Alibaba Cloud Intelligence, Michael Jing, Senior Vice President of BOE, Du Xiaozheng, GM of Business Analysis Division at GienTech, Chairman of Data Development Committee at GienTech, Bu Renhai, Data Solutions Expert of China Information.

Promoting Steady Progress in Digital Financial Innovation Guided by Think Tank

In order to further enhance and promote the development of digital finance in Shijingshan District, this Digital Finance Forum witnessed the signing of the strategic cooperation framework agreement between the Shijingshan District People’s Government and Asia Digital Group, represented by Li Xianxia, Member of Standing Committee of CPC Beijing Shijingshan District, Deputy Mayor of Shijingshan District People’s Government of Beijing Municipality and Zhang Li, Executive Vice President of Asia Digital Group respectively.

Meanwhile, in order to strengthen the Shijingshan District Digital Finance Consultant Team, Li Xin, Deputy Secretary of CPC Beijing Shijingshan District, Mayor of Shijingshan District People’s Government of Beijing Municipality presented letters of appointment for senior consultants of digital finance of Shijingshan District to over guests from academia and business in digital finance, including Fan Bin, VP & Senior Partner, IBM Consulting Greater China Group, General Manager, IBM Consulting China Financial Service Sector, Jin Songhua, CFO of Microsoft Greater China, Zhang Li, Executive Vice President of Asia Digital Group, Huang Hongying, Vice President of Alibaba Cloud Intelligence, Li Junping, Vice President of Alibaba Cloud Intelligence, Michael Jing, Senior Vice President of BOE, Liu Dongmin, Director of the Division of International Finance, Institute of World Economics and Politics, Chinese Academy of Social Sciences, Zhang Ning, Director of the Central University of Finance and Economics, Du Xiaozheng, GM of Business Analysis Division at GienTech, Chairman of Data Development Committee at GienTech, Huang Wanzhong, Chief Data Expert of China Information, Vice Chairman of DAMA China, International Data Management Association, Wu Lianfeng, Vice President & Chief Research Analyst IDC China, Doris Liu, Head of Inward Investment China (Hong Kong), Scottish Development International, Qu Shaoguang, Vice General Manager of China Financial Computerization Group, Zhang Shaofeng, Founder, Chairman, CEO of Bairong Inc., Li Fan, Secretary of the Party Committee, General Manager of the Tech Innovation Department of China Everbright Group, Han Bo, Board Director, President of Longyingzhida (Beijing) Technology Co., Ltd., etc. The consultants and leaders of Shijingshan District conducted in-depth exchanges and discussions at the subsequent meeting on the development of modern financial industry in Shijingshan District, and offered suggestions for promoting steady and solid progress in the innovation of digital finance in this area.

In addition, this forum utilized AI, VR, AR and other digital technologies to build a cloud platform that breaks the boundaries of time and space through cloud conferences, livestreaming videos, cloud exhibitions and cloud docking, together with offline conferences. The cloud platform can enable the global audience to experience as if they were here, with latest projects and research results presented in a detailed and multi-dimensional manner from such enterprises as China CITIC Bank, Bank of Beijing Shijingshan Sub-branch, China Banking and Insurance Information Technology Management Co., Ltd., CRCC Cyber Information Technology Co., Ltd., China Banking and Insurance Information Technology Management (Beijing) Co., Ltd., Beijing Iron Ore Trading Center Corporation, Beijing Shangrong Factoring, BOB-Cardif Life Insurance Co., Ltd. Beijing Branch, Guobao Life Insurance Co., Ltd. Beijing Branch and Bairong Inc.

The Digital Finance Forum of this GDEC is committed to building a diversified digital finance platform based on the present and facing the future through the release of academic achievements, the collision of cutting-edge ideas, the face-to-face communication between government and market and the technological display of digital financial projects.

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SOURCE Asia Digital Group

Mon, 01 Aug 2022 04:05:00 -0500 en text/html
Killexams : Intelligence Squared U.S. Launches Weekly Debate Show on Public Radio

Show airing weekly on WNYC, Saturday evenings after All Things Considered 

Joining WNYC carrying the program are WLRN and WGCU (Miami), KVPR (Central California), WBHM (Birmingham), WYSO (Southern Ohio), and Wyoming Public Radio.

NEW YORK, Aug. 4, 2022 /PRNewswire/ -- Intelligence Squared U.S., the nation's leader in provocative nonpartisan debates, has kicked off a weekly show on public radio stations across the country. The hour-long program is now airing on WNYC Radio every Saturday at 6:00 PM ET following All Things Considered, as the veteran media brand transitions to a weekly release schedule across its public radio, podcast, and video platforms.

The weekly show will feature new debates and conversations furthering Intelligence Squared U.S.'s mission of combating extreme polarization by exposing audiences to smart arguments across a range of timely issues. Episodes will come out every Friday in podcast apps and air soon after every week on a range of public radio stations across the country, with more being announced regularly.

The programming schedule for the next two months is as follows:

  • August 5: Should We Eat More Processed Foods?
  • August 12: Should We Indict Trump?
  • August 19: Is Cancel Culture Toxic?
  • August 26: Should We Do Away With the SAT?
  • September 2: Will AI Do More Harm than Good?
  • September 9: Activism in Healthcare
  • September 16: Can We Separate Art from the Artist?
  • September 23: Is Amazon Good for Small Business?
  • September 30: Will Dollar Dominance Last?

To mark the launch of the new weekly show for public radio, Intelligence Squared U.S. will take the stage live on August 31st at PRPD Public Radio Content Conference in New Orleans to debate a timely question: "Is public radio still relevant in a digital world?"

"In our increasingly divided world, Americans deserve a contempt-free zone for hearing both sides of the issues," said Clea Conner, CEO of Intelligence Squared U.S. "We are thrilled to offer our program on a weekly basis to help expose public radio listeners to a range of ideas on some of the most important questions of our time."

The program was made possible in part by a generous grant from the Laura and Gary Lauder Family Venture Philanthropy Fund, contributing up to $1.25 million over four years to initiate the Debate for Understanding program.

"The ability to consider and learn from each other's perspectives is crucial for our democracy to function," said Laura Lauder. "We are thrilled to support Intelligence Squared U.S.'s new program, Debate for Understanding, to enable all Americans to explore the most pressing issues of our time through debates conducted with civility and respect."

The new show builds on a remarkable recent run for the veteran media platform. Just last month, Intelligence Squared U.S. won six Telly Awards for excellence in digital programming. The nonprofit media organization has also produced recent debates in partnership with Bloomberg, IBM, the German Marshall Fund, the Richmond Forum, Northwestern Pritzker School of Law, and more. The program will continue to air on other public radio stations across the country and via the Intelligence Squared U.S. podcast and YouTube channel.


Intelligence Squared U.S. was founded to address a fundamental problem in America: the extreme polarization of our nation and our politics. Through its award-winning live debates and associated programming, the nonprofit organization serves as a model for responsible media in a new age - fair, intelligent, nonpartisan - while restoring critical thinking, facts, reason, and civility to public discourse. Recognized as "Best Podcast Event of 2020" by Adweek, Intelligence Squared U.S. reaches millions through multi-platform distribution, including public radio, podcasts, video live streaming, newsletters, interactive digital content, and on-demand apps. With over 220 debates and counting, plus additional podcast and video content, the organization has encouraged the public to "think twice" on a wide range of provocative courses for over a decade. Intelligence Squared U.S. was initiated by The Rosenkranz Foundation, which continues to provide major support.

For more information on Intelligence Squared U.S., please contact Ray Padgett ( or Mark Satlof ( at Shore Fire Media.

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SOURCE Intelligence Squared U.S

© 2022 Benzinga does not provide investment advice. All rights reserved.

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Thu, 04 Aug 2022 02:00:00 -0500 text/html
Killexams : Cloud Foundry Foundation to Host Cloud Foundry Day October 25 at KubeCon

Opens call for sessions for event in Detroit

SAN FRANCISCO, Aug. 4, 2022 /PRNewswire/ -- Cloud Foundry Foundation today announced Cloud Foundry Day will be held on Tuesday, October 25, co-located with KubeCon NA in Detroit, and opened the call for proposals.

Cloud Foundry has long been the industry-standard open source cloud application platform. Now, with Korifi and Paketo Buildpacks, the best-in-class developer experience that Cloud Foundry is known for is available on Kubernetes. Cloud Foundry Day is a full day of sessions that brings the technical community, end-users, and member companies together.

"It will be great to meet with people in our community in person after such a long hiatus," said Chris Clark, program manager of Cloud Foundry Foundation. "We've made tremendous progress in advancing Cloud Foundry with the introduction of Korifi and are looking forward to the opportunity for face-to-face interaction with our community at the event."

For this one-day event, the Cloud Foundry Foundation will join forces with the community-elected program committee to curate a program that fosters collaboration among attendees and offers an interactive platform for education. The call for sessions is now open and closes Friday, August 26.

Session topics will include Korifi, Paketo Buildpacks, new features in cf-deployment, adoption of new stemcells, and more.

For more information about sponsoring Cloud Foundry Day, get the Sponsorship Prospectus. Sponsorship deadline is Friday, September 23.

The registration fee for Cloud Foundry Day is $50 or free to attend virtually. Attendees can register for the event here.

Cloud Foundry is an open source technology backed by the largest technology companies in the world, including, HCL, Huawei, IBM, SAP, and VMware, and is being used by leaders in manufacturing, telecommunications and financial services. Only Cloud Foundry delivers the velocity needed to continuously deliver apps at the speed of business. Cloud Foundry's container-based architecture runs apps written in any language on a choice of cloud platforms — Amazon Web Services (AWS), Google Cloud Platform (GCP), IBM Cloud, Microsoft Azure, OpenStack, and more. With a robust services ecosystem and simple integration with existing technologies, Cloud Foundry is the modern standard for deploying mission critical apps at global organizations.

About Cloud Foundry Foundation

The Cloud Foundry Foundation is a non-profit open source organization formed to sustain the development, promotion and adoption of Cloud Foundry as the industry standard for delivering the best experience for developers at companies of all sizes. The Foundation projects include Cloud Foundry, Paketo Buildpacks, Korifi, Eirini, BOSH, Open Service Broker API, CredHub, and more. Cloud Foundry makes it faster and easier to build, test, deploy and scale applications, and is used by more than half the Fortune 500, representing nearly $15 trillion in combined revenue. Cloud Foundry is hosted by The Linux Foundation and is an Apache 2.0 licensed project available on Github: To learn more, visit:

Joe Eckert
Eckert Communications

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SOURCE Cloud Foundry Foundation

© 2022 Benzinga does not provide investment advice. All rights reserved.

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All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to Excellerate the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

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Thu, 04 Aug 2022 03:44:00 -0500 text/html
Killexams : Core Strengths Expands Board of Directors to Bolster Data Science Integrations

Press release content from PR Newswire. The AP news staff was not involved in its creation.

SAN DIEGO, July 28, 2022 /PRNewswire/ -- Core Strengths, the inventor of Relationship Intelligence and global leader in team effectiveness for the enterprise, today announced that Som Shahapurkar, Ph.D., and Greg Barnett, Ph.D. will join the company’s Board of Directors.

Dr. Som Shahapurkar has built and operationalized Artificial Intelligence (AI), Machine Learning (ML), and advanced analytics for the entirety of his career. He’s led teams at Intel, Verizon, and FICO and is an adjunct Professor of Artificial Intelligence at the University of San Diego. Som holds patents in applied AI and co-founded an AI startup for energy management. “The vision of Core Strengths is inspiring. Integrating AI and ML inside their Relationship Intelligence will be transformative for organizations. Team collaboration and performance are about to get an upgrade,” said Dr. Shahapurkar.

Greg Barnett is an Industrial/Organizational Psychologist with over 20 years of experience in HR Technology and SaaS. He is currently the Chief People Scientist at Energage and consulted over half of the Fortune 50 in employee selection, leadership development, engagement, and coaching. He’s passionate about leveraging innovation and data science to help people perform at their best. His clients include Microsoft, IBM, Bank of America, AT&T, Citigroup, Boeing, and Walmart. “I couldn’t be more excited to join Core Strengths. They’re building innovative new products and solutions for customers and helping people meet the challenges of this new world of work,” said Dr. Barnett.

“Core Strengths is built on the foundation that people are unique and different, and those differences shape the way we connect with others. Whether you work in an office, remotely, or a hybrid of both, people still need to establish meaningful connections. The need to collaborate, understand each other, and communicate effectively is greater than ever. Som and Greg’s expertise will help us deliver smarter and more nuanced communication tips to help teams have better meetings, messages, and conversations – and by extension, more productive relationships,” said Tim Scudder, Ph.D. Author and Principal at Core Strengths.

About Core Strengths

Core Strengths’ mission is to make work better by helping teams work together. Built on 50 years of science, Relationship Intelligence (RQ) empowers leaders and teams to optimize their work styles and strengthen trust. Over 5 million users in organizations worldwide rely on Core Strengths to measure talent, coach employees, and build winning teams.

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Killexams : Coursera, Inc. (COUR) CEO Jeffrey Maggioncalda on Q2 2022 Results Earnings Call Transcript

Coursera, Inc. (NYSE:COUR) Q2 2022 Earnings Conference Call July 27, 2022 5:00 PM ET

Company Participants

Cam Carey - Head, IR

Jeffrey Maggioncalda - CEO and President

Kenneth Hahn - SVP and CFO

Conference Call Participants

Stephen Sheldon - William Blair

Taylor McGinnis - UBS

Brian Peterson - Raymond James

Josh Baer - Morgan Stanley

Ryan McDonald - Needham

Jason Celino - KeyBanc Capital Markets

Terry Tillman - Truist Securities

Brett Knoblauch - Cantor Fitzgerald


Ladies and gentlemen, thank you for standing by, and welcome to Coursera's Second Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode and please be advised this call is being recorded. After the speakers' prepared remarks, there will be a question-and-answer session. [Operator Instructions].

Thank you. I'd like turn the call over to Cam Carey, Head of Investor Relations. Mr. Carey, you may begin.

Cam Carey

Hi, everyone, and thank you for joining our Q2 earnings conference call. With me today is Jeff Maggioncalda, Coursera's Chief Executive Officer; and Ken Hahn, our Chief Financial Officer. Following their prepared remarks, we will open the call for questions.

Our press release, including financial tables, was issued after market close and is posted on our Investor Relations website located at, where this call is being simultaneously webcast and where versions of our prepared remarks and supplemental slides are available.

During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP measures to the most directly comparable GAAP measure can be found in today's press release and supplemental presentation, which are distributed and available to the public through our Investor Relations website. Please note that all growth percentages refer to year-over-year change, unless otherwise specified.

Additionally, all statements made during this call relating to future results and events are forward-looking statements based on current expectations. These forward-looking statements include, but are not limited to, statements regarding trends and their potential impact on our industry and our business; our ecosystem, platform, content and partner relationships; our strategy and priorities; and our business model mission, opportunities, outlook and long-term financial framework.

Actual results and events could differ materially from projections due to a number of risks and uncertainties discussed in our press release, SEC filings, and supplemental materials.

These forward-looking statements are not guarantees of future performance and plans and investors should not place undue reliance on them. We assume no obligation to update our forward-looking statements.

And with that, I'd like to turn it over to Jeff.

Jeffrey Maggioncalda

Thanks Cam and good afternoon everyone. Several days after our first quarter call, we held our 10th annual Coursera Conference. Over 3,000 live attendees from nearly 150 countries, including leaders from higher education, business, and government came together to discuss, debate, and most importantly, collaborate on the most pressing issues facing the future of learning and work.

We believe that cross-sector collaboration between businesses, governments, and academic institutions will be critical to addressing the scale of the skills gap crisis and lay the foundation for future of higher education amid rapid transformation.

We shared concrete examples of the innovation and collaboration that is occurring amongst institutions in the Coursera community, demonstrating incredible progress toward creating more equal access to education. And I was personally excited to introduce new offerings like Career Academy for institutions.

This career training academy leverages our entry-level Professional Certificates and Guided Projects, created by the world’s leading companies and experts, to deliver the skills and credentials that prepare learners for in-demand, digital jobs, even those with no college degree or prior work experience.

It’s one of the ways that we are focused on creating greater access to high-quality education that can be delivered through institutions at accelerated speed and scale to unlock economic opportunity for learners around the world.

And now turning to our results. In Q2, we grew total revenue 2%percent to $125 million. Our Enterprise segment delivered strong revenue growth across business, campus, and in particular, government customers, and our growing catalog of entry-level Professional Certificates continue to see strong demand from both individuals and institutions.

Nonetheless, our overall revenue growth was lower than anticipated, particularly the performance in our Consumer and Degrees segments. In Consumer, we saw somewhat weaker conversion rates in several markets outside of the U.S., with a more pronounced impact in EMEA, along with a negative impact from several pricing and payment-related tests that we ran.

In Degrees, we are seeing lower-than-expected student enrollments, particularly in mature U.S. and European degree programs where our revenue is concentrated today. Ken will cover each in more detail during the discussion of our financial results and our outlook for the remainder of the year. But in this dynamic environment, it is advantageous that we have a differentiated business model given our three-sided platform.

Our diverse offerings, unique assets, and global distribution provide us with multiple opportunities for growth -- and allow us to navigate the long-term trends shaping higher education and adult learning more broadly.

Let’s briefly discuss the latest on the three key trends that we see at play. The first trend is digital transformation. The forces of technology, globalization, and increasingly remote and hybrid work are transforming industry-after-industry. The impact of these forces has amplified the criticality of technology and digital tools, has caused businesses, governments, and campuses to redefine the way that they operate, and has reshaped both the supply and demand for jobs globally.

At its core, this ongoing transformation has created an accelerated rate of change that we believe will be a permanent feature of our increasingly digital world and a long-term driving force of Coursera’s growth.

The requirement for us all to keep pace with this accelerating change leads to my second major trend, skill development. In the past, we’ve discussed the ways in which institutions are adapting to a changing skills landscape, but this quarter, I wanted to share the most prevalent feedback I was able to hear directly from our Coursera for Business, Government, and Campus customers around the world.

Businesses are investing to upskill and reskill their talent, but they want the ability to drive and measure the ROI of skill programs and to better understand the skill proficiencies of their workforce.

Additionally, as automation reduces the need for jobs that are repeatable and predictable, businesses are focused on reskilling existing employees into new roles that better align with their future business needs.

Governments said that reducing unemployment and underemployment, especially among young people, was a key priority and they are looking to help higher education create more employable graduates.

And campuses, or higher academic institutions, they told us that they need to bridge the gap between employer needs and the skills students graduate with -- while finding ways to attract and retain new students.

Each of these use cases will require a flexible, affordable, and responsive system of higher education that can keep pace with skill requirements as they evolve. We believe that Coursera’s offerings are suited to meet these needs. This leads me to the third trend driving our business the transformation of higher education and adult learning more broadly.

As technology and automation accelerate a changing skills landscape, a new and inclusive lifelong learning model must meet this challenge with rapid speed and scale. Adapting to this change will require institutional collaboration between academic institutions, industry leaders, and government to meet the needs and pace of this new digital world.

One example of this is a recent Coursera for Campus partnership. Louisiana Tech University along with the University of Louisiana System is launching a system-wide for-credit initiative in partnership with Coursera and Google.

Beginning with a summer programming series open to faculty, the Louisiana Tech University Office of Professional Education Outreach is offering Google’s entry-level Professional Certificates on the Coursera platform as a complement to their regularly scheduled professional development.

Later this year, they plan to expand the initiative to other universities in the University of Louisiana System to reach faculty via their Bridging the Divide program and more broadly to students who are interested in gaining the in-demand skills for high-growth jobs like Data Analyst and UX Designer.

We believe that innovative programs like these from forward-thinking institutions

demonstrate the future of higher education. The future is not universities or industry it is the collaboration between universities and industry. Critical thinking, coaching, and community are all hallmarks of the university experience that higher education institutions do exceptionally well.

But at the pace of digital transformation, many universities and colleges lack a connection to industry, the fast-changing skills landscape, and evolving employer demands.

This is the power of Coursera’s three-sided platform and innovations like Career Academy, connecting learners, educators, and institutions in a global learning ecosystem designed to keep pace with our rapidly changing world.

Our platform has three distinct advantages that we continue to reinforce. First are the leading educator partners who have created a broad catalog of branded content and credentials. Second is the global reach of Coursera. And the third is the data, technology, and ongoing product innovation that powers our unified platform.

Let’s discuss recent highlights for each of these. First, our educator partners. We now have more than 275 educator partners on Coursera, including world-class universities and globally recognized industry leaders.

Recently, we welcomed four premier Indian university partners, including the Indian Institute of Management Ahmedabad, the Indian Institute of Management Indore, the Indian Institute of Science, and the International Institute of Information Technology, or IIIT, Bangalore.

Additionally, we announced 11 new industry partners at Coursera Conference that will continue to expand our catalog of high-quality, job-relevant content. These industry partners include Accenture, ADP, Coinbase, Genentech, Goodwill, Hero Mindmine, PwC India, SAP, and Tally Education.

Our broad catalog of content and credentials created by these educator partners continues to grow. We announced 10 new university certificates from the Indian Institute of Technology Guwahati; the Indian Institute of Technology Roorkee, and the University of Colorado Boulder. These programs generally take six months or less to complete, and help learners develop expertise in cutting-edge fields like machine learning for finance, supply chain management with AI, and natural language processing.

Additionally, we unveiled three new Master’s degree programs expected to start their first student cohorts later this year. They include a Master in Data Science from the International Institute of Information Technology Bangalore, an Executive Master in Business Administration from the Indian Institute of Technology Roorkee, and our first-ever university and industry collaborative degree on Coursera with the Master in Management in Digital Healthcare Transformation from Northeastern University and Mayo Clinic.

This new program combines a top academic research institution with the expertise of one of the world’s best hospitals. We believe this type of partnership demonstrates the promise of cross-sector collaboration, students benefit from the cutting-edge skills of Northeastern’s faculty, along with the real-world expertise, case studies, and hands-on projects drawn directly from Mayo Clinic.

Finally, we announced a significant expansion of our entry-level Professional Certificate catalog. For existing partners, these new certificates include; Google’s fifth certificate, designed to prepare learners for a career in digital marketing and e-commerce. Five new certificates from Meta for in-demand careers in the field of software engineering, including Front-end, Back-end, Android, and iOS developer -- as well as Database Engineer. And three new certificates from IBM in Technical Support, Supply Chain, and Operations.

We also previewed the first entry-level Professional Certificates expected from several new partners, including Akamai, HR Certification Institute, and Microsoft. In total, we have announced 32 entry-level Professional Certificates across nine industry partners. 23 of these certificates are live on the platform today and 12 have secured American Council on Education ACE credit recommendation, which enables more universities to accept the certificates for credit toward a degree program.

These entry-level professional certificates provide online job training for high-demand entry-level digital jobs that don’t require a college degree or any prior work experience. They are well-suited for the millions of career starters and career switchers looking to land a high paying digital job.

The second major advantage is the global reach of our platform. Our large, growing learner base attracts educator partners looking to teach both individuals and institutions around the world.

Once again this quarter, we added approximately 5 million new registered learners, growing our global learner base to 107 million by the end of June. Learner growth continues to be broad-based, with double-digit increases in all regions and the fastest growth coming in the Asia-Pacific region.

Additionally, we’ve grown the number of Paid Enterprise Customers by 64% this quarter to 958, with the majority of new additions coming from Coursera for Business customers.

Our final advantage is the ongoing product innovation on our unified platform. Our product team continues to introduce a number of new capabilities to better serve our learners, educators, and institutions.

As I mentioned earlier, I was thrilled to announce Career Academy for institutions at the Coursera Conference in May, and we are excited about the early feedback we are getting from our Enterprise customers.

Career Academy enables higher education institutions, governments, and businesses to offer a co-branded, turnkey solution to upskill and reskill entire populations of students, workers, and employees for new economy careers at rapid speed and scale.

Campuses can help attract and retain students by offering industry-recognized certifications and micro-credentials, along with skills development that helps graduates enter in-demand careers.

Governments can provide job seekers a path to a better career and help them gain the skills they need to achieve it. And businesses can become a career destination to attract frontline workers and expand their talent pools, while reskilling and redeploying their current workforce.

Career Academy leverages our entry-level Professional Certificates and Guided Projects, which equip learners, particularly those with no college degree or prior work experience with two critical elements designed to help them in landing a good job.

First is a branded credential, created and endorsed by an industry leader, that provides employer signaling value. And second is the ability to build a portfolio of hands-on projects using the software, applications, and tools of the trade to demonstrate their skills proficiency.

For example, an aspiring data analyst can practice SQL, Python, and Tableau, while UX designers can build projects using Figma and Adobe Creative Cloud and they can do this in a cloud-based desktop browser without the need for a license or local installation on their device.

As we continue to expand our catalog with the announcements I highlighted earlier, institutions will be able to offer learners a more diverse selection of roles from a wider range of industries, brands, and languages.

Next, we introduced Clips for Coursera for Business customers starting in May. Clips allows companies to make the most valuable, in-demand skill development content more easily accessible to their employees. Leveraging existing Coursera content, Clips delivers short five to 10-minute videos and lessons that address in-the-moment learning needs.

Videos and lessons are surfaced within the context of our longer courses, providing a clear path to deeper skills development when the learner is ready to enroll in the full course. We launched with over 10,000 Clips that we expect to scale to more than 200,000 Clips by the end of the year using our existing catalog of content and credentials.

Finally, innovations for learners. Our team has been focused on creating a more personalized, engaging learning experience to better serve the unique needs of each individual learner. At Coursera Conference, we introduced a number of new tools and features focused on the motivation and support of learners.

These include the ability to input a personalized schedule into a course and receive data-driven deadlines for each item based on the real experiences of prior completers. AI-powered nudges and in-course coaching, with features like highlighting key

lectures and content that other learners reviewed prior to an assessment.

And machine learning generated summaries of key lecture videos, providing learners with an easy way to review prior course material, gain a quick understanding of a topic, and progress more quickly through their studies.

Before I turn the call over to Ken for a closer discussion of the financial results, let me remind you of several of the key priorities that we are focused on to grow in the years ahead. First, we will continue to invest in our fast-growing Enterprise segment, focusing on both new customer acquisitions and expanding existing relationships.

Second, we are still in the early stages of our Degrees segment and are focused on expanding our program catalog, including the types of degrees offered and a greater variety of subject matters and languages from new and existing partners.

Third, we will broaden our entry-level Professional Certificate catalog, sourcing new partners, expanding with existing leaders, and offering learners a greater variety of roles, industries, and languages to choose from.

And finally, we will continue to scale the Coursera platform. Investing in growing our registered learner base, increasing our network of educator partners and their content and credentials, and expanding our reach into more countries, more institutions, and more learners around the world.

And now, I’d like to turn it over to Ken. Ken, please.

Kenneth Hahn

Thanks Jeff and good afternoon, everyone. We continue to demonstrate strong progress across our platform, expanding our number of educator partners and their catalog of job-relevant content and credentials, growing our global reach with individuals and institutions, and delivering new innovations for learners, educators, and our Enterprise customers.

In Q2, we generated total revenue of $124.8 million, which was up 22% from a year ago on strong demand for our entry-level Professional Certificates and sustained momentum across our Enterprise segment.

As Jeff mentioned, our revenue performance was mixed this quarter, with strength in Enterprise offset by lower-than-expected growth in Consumer and Degrees, which I’ll cover in more detail shortly during the discussion of our segment results.

Nonetheless, the long-term, structural trends driving our business have not changed. First, individuals and institutions are increasingly turning to online learning to supply the digital skills required in today’s economy.

Second, we have a powerful combination of university and industry content that delivers the in-demand skills and branded, recognized credentials required by learners no matter the stage of their career.

And third, our three-sided platform provides us with global reach and the ability to leverage our strategic assets across our segments to compete differently. Please note that for the remainder of the call, as I review our business performance and outlook, I will discuss our non-GAAP financial measures, unless otherwise noted.

Our non-GAAP adjustments remove only stock-based compensation and related payroll tax nothing else. Gross profit was $79.2 million, a 63.5% gross margin, up 28% from a year ago. This margin was approximately three percentage points higher than the prior-year period due to the ongoing drivers we’ve discussed the past several quarters, particularly the positive changes in our segment content margin for both Consumer and Enterprise.

Our Consumer segment’s content margin rate increased from 66% in the prior year period to 73% this quarter and our Enterprise segment’s content margin rate increased from 67% in the prior year period to 71% this quarter. This expansion continues to be driven by learners consuming a larger proportion of industry partner content, which tends to have lower than average content cost.

Total operating expense was $99.3 million, or 80% of revenue, compared to 67% in Q2 of last year. The increase was partially driven by one-time impairment expenses associated with the subleasing of a portion of our Mountain View office.

As a reminder, during our outlook last quarter we discussed our expectations around a likely partial sublease of our Mountain View headquarters, which was consummated in a lease during Q2.

This resulted in $3.2 million of additional costs this quarter, which are included in

the departmental expenses and account for a portion of the OpEx increases as we did not pull the cost out as pro forma.

As discussed previously, we expect a net benefit to accrue over the coming quarters and years, with much of the savings expected to be redeployed to fuel our talent strategy.

Now, moving to the expense details. Sales and marketing expense represented 38% of total revenue, up from 32% in the prior year period as we expanded the capacity of our Enterprise sales force and invested in marketing programs related to higher margin content and credentials.

Research and development expense was 26% of revenue, up from 22% in the prior year period, driven by content development investments associated with our entry-level Professional Certificates.

And general and administrative expense was 16% of revenue, up from 13% in the prior year period. Our net loss was $21.6 million or 17.3% of revenue and our adjusted EBITDA loss was $15.6 million, or 12.5% of revenue.

Now, turning to cash performance and the balance sheet. As of June 30th, we had approximately $783 million of unrestricted cash, cash equivalents, and marketable securities with no debt. Our free cash flow was a use of $3.2 million compared to $8.5 million in the prior year.

The strength of our balance sheet, in combination with the modest cash requirements for operating needs, provides us with a strong financial base, positions us well in any environment, and allows us to invest confidently in our long-term strategy.

Now, let’s discuss our segments in more detail. Consumer revenue was $69.7 million, up 12% from the prior year. At the start of this year, we communicated that we expected Q2 to be a seasonally light quarter for learners, reflecting the traditional education cycle.

With that being said, our Consumer growth was lower-than-anticipated. First, we saw softness in several markets outside of the U.S., particularly in EMEA, with new payer conversion rates that were below our seasonal expectations and may reflect ongoing macroeconomic challenges in the region.

Second, we conducted several pricing and payment-related tests in markets around the globe that resulted in a negative impact on Consumer revenue. To be clear, we continue to see increased demand for our job-relevant portfolio of entry-level Professional Certificates, particularly in North America, and we expect to rapidly expand this category with new and existing industry partners as Jeff highlighted.

Segment gross profit was $50.7 million or 73% of Consumer revenue, up from 66% in the prior year. The expansion in our Consumer segment margin demonstrates the ongoing benefit we see from a lower content cost rate associated with higher consumption of industry partner content. And we added another 5 million new registered learners for a total base of 107 million.

Next is Enterprise. Enterprise revenue was $43.7 million, up 55% from a year ago on strong growth across business, government, and campus customers. The total number of Paid Enterprise Customers increased to 958, up 64% from a year ago and our net retention rate for Paid Enterprise Customers was 111%.

Segment gross profit was $31.1 million, or 71% of Enterprise revenue, up from 67% in the prior year, driven by higher consumption of industry content that similarly benefited our Consumer segment, although less pronounced.

And finally, our Degrees segment. Degrees revenue was $11.4 million, down 4% from a year ago on lower-than-anticipated student enrollments in our mature programs and lower overall student activity.

The total number of Degrees students grew 19% from a year ago to 17,460. Our Degrees performance reflects what we believe to be broader macroeconomic trends at play, particularly with U.S. and European enrollments and Master’s degree programs, which is where our revenue is concentrated today.

As we’ve discussed, our Degrees segment is still in its very early stages. We have a small base of fully-mature, existing programs, which is where we experienced decreased new student enrollments.

While we remain excited about the momentum in new program announcements that will diversify our Degrees revenue base, it will take time to see their contribution given the extended ramp cycle we’ve discussed and the lower range of international tuition price points. As a reminder, there is no content cost attributable to the Degrees segment, so Degrees segment gross margin was 100% of revenue.

Now, onto our updated financial outlook. For Q3, we are expecting revenue to be in the range of $126 million to $130 million, or 16% growth at the midpoint of the range.

For adjusted EBITDA, we are expecting a loss in the range of $10.5 million to $13.5 million. For full year 2022, we anticipate revenue to be in the range of $509 million to $515 million or 23% growth at the midpoint of the range.

With a three-sided platform, our business has exposure to the needs of learners, educators, and institutions that affect our three operating segments in different ways. Given the revised full-year outlook, we thought it would be helpful to provide new growth expectations by segment for 2022 to reflect our latest view.

For Consumer, we expect to grow in the high teens for full-year 2022, which is slightly lower than our prior expectations given the softer conversion rates seen in Q2. For Enterprise, we expect our broad momentum to continue, with full year percentage growth in the mid-40s, inclusive of some macroeconomic headwind related to EMEA Coursera for Business customers.

And for Degrees, we anticipate a mid-single-digit decline on an annual basis given the enrollment challenges witnessed in the first half and forecasted for this fall in our most mature programs.

For full year 2022 adjusted EBITDA, we’re expecting a loss of $42.5 million to $48.5 million or a negative 8.9% adjusted EBITDA margin at the midpoint of revenue and EBITDA guidance ranges.

Our messaging and annual operating framework with regards to EBITDA margin has been consistent over the past two years. At the beginning of the year, we set an annual EBITDA margin target and work within that plan to maximize our growth opportunities across the business.

With our reset revenue expectations for the second half of 2022, we have adjusted the pacing of our investments to align with the annual EBITDA margin target. Continuing to maintain the same margin target results in a lower adjusted EBITDA loss in dollar terms, for a midpoint of $45.5 million, down from the previous $48.5 million loss.

This, along with our strong cash position and minimal cash burn, allows us to prioritize near-term growth opportunities, while strategically positioning Coursera

for the long-term.

I’ll now turn the call back to Jeff for final comments.

Jeffrey Maggioncalda

Thanks Ken. We have entered a new and ever-evolving era of work that consistently requires new skills. Technology is creating new career opportunities, but students and workers need access to flexible, affordable, and fast-tracked learning and career pathways to transition into well-paying jobs of the future. This is particularly true for women and other underrepresented groups, who have been disproportionately impacted by the pandemic and automation.

With many of our learners based in emerging markets, we partnered with the International Finance Corporation and the European Commission to publish a global study seeking to better understand how these learners, particularly women, have been learning online since the pandemic’s onset.

During the fourth quarter of 2021, we surveyed nearly 10,000 learners on Coursera in four focus countries; Egypt, India, Mexico, and Nigeria, targeting learners that had completed at least one graded item between January 2019 to the end of June 2021. And nearly half of the respondents reported earning in their country’s bottom 50th

percentile of income.

Our research found women and other underserved populations view online learning as more accessible than in-person education. In fact, 45 percent of women and 60 percent of women caregivers said they would have had to postpone or stop studies if online learning weren’t an option, citing mobility, safety, and family obligations as their top deciding factors.

Women also said that they faced more restrictions that limited how and where they learn, but that online learning had provided an opportunity for them to achieve their goals.

The study also confirmed links between online learning and career outcomes in emerging markets. The IFC research found that online learning produces gains in the broader economy through direct and indirect effects, with one new job created for every 30 people trained on Coursera in our four focus countries.

About one-third of the women learners surveyed said they found a new job, set up a business, or improved their job or business performance after taking online courses and 22% of women saw an increase in their income, with nearly 40% reporting an increase of 10% or more.

Finally, 99% of respondents said they plan to continue learning either online or in a blended format after the pandemic. These results demonstrate why increasing access to online learning, in combination with broadband connectivity and remote work, have the power to advance equal opportunity in the post-pandemic economy.

However, it will require significant collaboration from both the public and private sectors to address the scale of the crisis and build competitive, equitable, and sustainable workforces. People often say, talent is equally distributed, but opportunity is not. With our Coursera community, encompassing leaders in higher education, business, and government, we are working together to expand access to economic opportunities for learners around the world.

Now, let’s open the call to questions.

Question-and-Answer Session


[Operator Instructions]

We'll now take our first question from the line of Stephen Sheldon with William Blair. Your line is open. Hey,

Stephen Sheldon

Hey, thanks for taking my questions. The first one here, just on the revenue guidance for the rest of the year, it seems like it assumes a year-over-year deceleration in the third quarter, and then some reacceleration in the fourth quarter. So can you talk about that? And I know you gave some segment level expectations from four years. Are there underlying segment level dynamics that you're kind of factoring in in the second half kind of in play there?

Kenneth Hahn

Yes. Hi, Stephen. No, it was it's simply based on mechanics are forecasting what we're seeing in the pipeline and the usual ratios that we use to determine our forecast. There's nothing unusual in that. We're ensuring or wanting to ensure that we're careful to hit our numbers this coming quarter. But there's nothing unusual in there from seasonality standpoint.

Stephen Sheldon

Got it. And then on the -- I think you previously talked about 50% growth, I think this year for Enterprise, right now you're talking to mid-40%s. And I think you called out some headwinds in EMEA. Can you supply some more detail on I guess what, what those headwinds look like in EMEA, and just generally what's kind of changing there? Is it the slower new client wind? Is it churn? Maybe a touch, I mean, just what, what's driving the slowdown there?

Jeffrey Maggioncalda

Yes, hey Steve. It's a combination of things. I mean, when we look at Enterprise, we've got Coursera for Business, we've got Coursera for Government, and we've got Coursera for Campus and then we've got the different regions. What we're seeing in EMEA is more of a Coursera for Business Challenge, relative to what we were expecting.

North America actually has been pretty solid on the Enterprise side across all three segments, and gov. Globally, the quarter for government has been quite paused. was. So it really is kind of Europe Coursera for Business and most of that is more like -- more in a pipeline development process, as opposed to the churn rates.

But that it is kind of Coursera for Business in Europe where we're seeing the biggest sensitivity and we suspect that that is kind of due to macroeconomic factors of what's going on in Europe right now. But that seems to be where we're seeing the localized weakness.

Kenneth Hahn

And of course, Steve your question was Enterprise that we saw similar weakness in EMEA in consumer on conversion rates. So, suspect that's part of the same trend, the general pressures on the economy's there.

Stephen Sheldon

Got it. All right. Thank you for the color.

Jeffrey Maggioncalda

Yes, thank you.


Your next question comes from the line of Taylor McGinnis with UBS. Your line is open.

Taylor McGinnis

Yes hi. Thanks for taking my question. Maybe to touch on what you were just referring to on the last question about some of the macro weakness and how that's materializing and what you guys are seeing in the pipeline and with consumers. So, can you talk about, I guess, one on like, the enterprise side, is that more a function of deals being delayed and pushed out? Or what -- I guess, how are you guys thinking about that in terms of it's the second half to have guide there, and then it's the second part on the consumer side? Maybe you can talk about activity levels on the platform, what you're seeing there and how that macro impact is materializing?

Jeffrey Maggioncalda

Yes, thanks Taylor, this is Jeff. So, on the Enterprise side, it's not a whole lot to add beyond what we mentioned to the Stephen. I think it is -- it appears to be a little bit of tightness with budgets in terms of how much do people spend, how quickly do they spend it?

I feel like we kind of thought the opposite of that when COVID first happened, it just seemed like people were opening the walls, maybe with government money. And in Europe kind of moving pretty quickly, it almost feels like the opposite has happened.

Now, people seem to be a little bit more careful with their spend. I would guess that's probably timing, as well as kind of purchase size. But not totally clear on exactly the distinction there.

On the Consumer side, it's interesting because the professional surge are still performing really well, particularly in North America. In Europe, it's kind of more of a conversion rate challenge. And so, like Ken said, maybe it's the same kinds of effects. You asked about activity levels, I don't think that we're seeing any notable difference in activity levels. It seems to be an even a lot of top of the funnel seems to be similar between Europe and other regions. I will say that, generally speaking, search volume for online courses and online degrees.

And this is not just on Coursera, which is general search volume is down. I think there's sort of a bit of a the economy reopening and people doing things outside their house that we're that we kind of see globally. And that probably is happening in Europe as well, but a lot of it sort of conversion rates on the Consumer segment in EMEA, and particularly Europe that we're seeing.

Taylor McGinnis

Got it. And then my next question is just on the Enterprise piece, I think, it looks like your net retention ticked up a little bit, but it looks like at least like the net logo ads in the quarter, maybe were the area that was a little bit weak relative to what we've seen in the past. So, can you talk about that, like the new versus existing and expansion activity? And when you think about the guide, like, where you're seeing more of the impact and how that influence it?

Jeffrey Maggioncalda

Yes, on this one, it is really a mixture of different sized companies that we sell, we do midmarket, we do some small, medium business, and then, of course, we have bigger accounts as well. Also when we look at deal sizes, they're different between a campus, a government, and a business. So, part of this is variability within the segment, part of it is variability in average deal size across sub-segments, if you will, of Enterprise.

I would say that as we and we've seen governments growing faster than business in terms of in terms of revenue growth, and those are generally bigger ticket sizes. So, I wouldn't be surprised if what we ended up seeing is I guess what I'd say is general continued sort of variability, depending on the mix of what's growing fastest on the campus side, and we're seeing pretty good uptake of Career Academy. These are more narrow, simple focus SKU that might sell faster than the typical ones. We might have higher numbers with lower average ticket sizes, but it's really sort of a combination of mix across segments, I think that we're seeing mostly.

Ken, I don't know if you want to add anything to that?

Kenneth Hahn

Just a little bit on the data side, looking at the number of paid, the net increase, which essentially you're referring to 41 versus 100, let's generalize over the previous four quarters, was definitely slower on the enterprise side, which is reflected in a lower forecast for the rest of the year. So it's part of the same, but there's absolutely a mix of, as Jeff said, between smaller and larger customers. But it's fewer conversions once again.

Taylor McGinnis

Great. Thanks so much for answering my question.

Jeffrey Maggioncalda

Sure Taylor.


Your next question comes from the line of Brian Peterson with Raymond James. Your line is open.

Brian Peterson

Hi, gentlemen, thanks for taking the question. So, I wanted to hit on the Degrees business for a second. And I understand some of the programs can have different enrollment times. But I was curious, what drove the enrollment change, particularly in the second quarter for some of these programs, I guess in the traditional cycle, maybe that's not the case.

And then maybe looking ahead, how do we think about that potentially getting better? Doesn't sound like maybe that's the case and the outlook, but is there a possibility for those enrollment trends to change as we're looking ahead to maybe the fall semester of 2022?

Jeffrey Maggioncalda

Yes. Hey, Brian. So when we look at the Degree segment, I mean, clearly minus 4% in Q2 is lower than expected. A lot of that is lower than anticipated student enrollments, part of it is also lower overall student activity. So, the tuition paid depends on how many credit hours students are learning. Partly probably because of working maybe because of vacation, whatever it students have pulled back in the activity level.

So if you look at where the Degree segment revenue comes from, currently, with our current portfolio Degrees, our four largest most mature Degree programs, they saw limited to negative revenue growth year-over-year and three of these four in the U.S.

We think that what's going on when we look at our funnel and also sort of outside information of what's happening with other degree providers in the U.S. market, we think that there are economic trends, particularly in the U.S. associated with a strong labor market and the stronger labor market historically has led to lower enrollments.

If you look country-wide, at sort of national data on graduate enrollment rates, is down 1% in spring of 2022 compared to plus 4.6% spring 2021. So, we do think that there's an impact in the U.S. because of that, and that's where the concentrated and more mature programs are.

I would also say that some people are like we have, but there's a recession, this should be countercyclical, right? It's a funny recession right now, people are talking about a recession, but the unemployment rate is really low. And generally speaking, degrees are countercyclical with mostly unemployment.

And so if unemployment goes up and a recession happens, that's where you get the most. We're kind of looking at a potential recession, but we're really low unemployment. So, I don't think that we're seeing yet the any sort of counter cyclicality because it's more associated with unemployment rates.

The other thing I'll add and I'll turn it over to Ken, but when we look at the revenue sort of year-on-year, part of it, as I mentioned, is the student enrollments and then part of it is the average revenue for students. And so the more intensely that students are learning, the -- higher their tuition in a given period, the average revenue per student was lighter in Q2 because of lighter kind of learning loads, if you will, that students have been taking it. So that was another difference from what we're expecting. Ken I don't know if there's anything you want to add to that?

Kenneth Hahn

Not a lot, I just reemphasize that our revenue is quite concentrated in a few large U.S. and European Master's Degree programs, which is why you referred to graduate programs, that’s -- again, it's the large majority of our business today. So, the effect on those markets affects us disproportionately in that business. And also that everybody understands, I think the our degrees model, it takes a long time to build revenue from new programs. We've recently had the last few quarters, some great new program announcements, those are still building and don't show in revenue immediately. So, we're excited about that trajectory over time, but we don't see any near-term impact. What we're seeing now is specifically what's happening in the U.S. and Europe for Master's Degree programs.

Jeffrey Maggioncalda

You asked by the way, Brian, like, when's it going to get better? My best guess would be it'll be related to unemployment. That's my best guess based on historical patterns.

Brian Peterson

Understood, No, I appreciate all the context there and maybe a follow-up for you Ken. Just in terms of the growth environment, obviously, not certain macro we've referenced some cyclicality. How do you think about that balance maybe beyond 2022, in terms of the growth versus the margin? Appreciate you're not giving guidance for 2023 yet, but has anything changed in terms of the thought process on how you're looking at some of the investment posture? Thanks, guys.

Kenneth Hahn

Sure. No, that's an incredibly important question as to how we run the business. The environment has changed and the outlook has changed somewhat in the near-term. But philosophically, we're not changing our approach. We want to continue to scale the business, we want to build leverage in the business. So, we expect to see improving EBITDA margin.

So, this last quarter, we just reduced, of course, the forward look on revenue and so we're reducing our rate of growth for the year, our rate of investment. We still want to fund growth, so we're not changing anything, we're in a great financial position from a cash standpoint, we're stable, we're burning $3 million a quarter that should continue at roughly that rate going forward.

So, we control our own destiny with $783 million in cash and cash equivalents. But we do want to have the model start to scale, we plan to continue to do that regardless of the revenue rate. And so you'll see us continue to adjust our investments on a go-forward basis.

So, I think next year what we'll say depending on the growth environment, at the end of the day, we need to win in this market, we need to own these markets, and we need to have long-term growth. We're not going to be confused about that. This is a growth company. But at the same time, we need to see leverage and so going forward, we don't have guidance yet, but you'll expect our EBITDA margin to be better next year. We've committed to that early on, as we went public and we continue to hold the same philosophy.

Jeffrey Maggioncalda

And Ken on -- sort of to continue on that a little bit about sort of where are we continuing to invest. I mean, we did pull back on the pace of expense growth, to try to match the lower than expected revenue growth, to try to kind of hold just adjusted EBITDA margin roughly the same.

We're still leaning in heavily a building direct salesforce to land and expand in Enterprise, growing top of funnel, the distribution, providing more localized learner experiences around the world.

Some of the product innovation that we talked about, notably the Career Academy, most Professional Certificates, the Eclipse, which is sort of the shorter, more accessible learning. These are all things that we're continuing to invest in, because it seems like there's good demand for this and they're pretty differentiated. And so we don't really want to pull back on that.

Brian Peterson

Understood. Thanks guys

Jeffrey Maggioncalda



Your next question comes from the line of Josh Baer with Morgan Stanley. Your line is open.

Josh Baer

Great, thank you for the question. I wanted to ask a couple follow-ups on Enterprise and the step down and the net new account additions quarter-over-quarter from that 100 level to 41. Like is that all in the EMEA region or was there impact in other geographies -- in North America?

Jeffrey Maggioncalda

Yes. Our North America enterprise was pretty consistent with what we were expecting and I'm not sure exactly the number of deals maybe, Ken, you can grab that. But when you look at overall bookings, like that was pretty solid. Assuming that ASPs weren't changing a whole lot, I know that our new and expansion, the new logos in Europe was where it was really the latest. I don't know if that accounts for the full amount of it, certainly on the revenue expectations, that's where we're seeing the weakness for the rest of the year. Ken, any additional color that you provide in terms of the net logo adds and kind of where those showed up?

Kenneth Hahn

The as you referenced, the focus is on ACV. It's on contract value, it's how we measure the Salesforce and measure our success over time. So, the -- so we were lighter in the as Jeff said, the performance in North America was fine. It's an ACV total contract value focus that we look at as opposed to a number of new ads for them to look that up. But it's not something we necessarily forecast to be fair, we've run the business on contract value.

Josh Baer

Okay. Got it. And with Enterprise in mind and the guidance, I guess, just wondering if you're seeing some of these -- if you're seeing deals that are pushed out? Or are you -- or is there a change in. I guess, again, for like the new account additions, is there a change to win rates? Essentially, like, are you -- is this just a little shift in macro and in EMEA and demand that's getting pushed out? Or is there any other changes to note in the competitive landscape or anything else to note there?

Kenneth Hahn

Yes, Josh, we didn't mention competition in the script. But I'm feeling pretty good about our competitive position, especially in Coursera for campus and Coursera for government. And with this career academy, the professor's these long form job training certificates, we are willing that portfolio quite quickly. And that is just really resonating with governments are trying to get people trained for jobs, and are looking for an affordable way to do that with good quality and good brand.

And then frankly, academic institutions who are seeing, competition from others and saying, if I'm going to attract students, I've got to, I've got to provide something that make them more job ready when they graduate industry micro-credentials is becoming quite a buzz word around, the higher the academic space. And not to say, there's no competition, but we really feel good about our competitive position in both the campus environment and the government environment.

See, for me, honestly, not really much change that we've seen. And, and so I nothing stands out as being be more exceptional than these macro-economic factors that we're talking about.

Jeffrey Maggioncalda

So Josh said your stat on briefly two-third one piece D. So it would be more pushing out a lack of closure, particularly in Europe as what we've seen, not that we're losing the competition, I'm always a little hesitant to say it's pushed out and it's delayed, because the deal that doesn't happen might not ever happen. You're being realistic, but we're not losing. It's just we're not closing immediately. And again, that affects primarily in Europe.

Josh Baer

Got it. Thank you.

Jeffrey Maggioncalda



Your next question comes from the line of Ryan McDonald with Needham. Your line is open.

Ryan McDonald

Hi, Jeff and Ken. Thanks for taking my questions. I had a question on the consumer segment, you talked about some pricing experiments during the quarter that perhaps had a bit of a negative impact or not the impact you're expecting? Can you can you provide a bit more color on what you were doing there? And perhaps corrective actions you're taking that gives you more confidence in sort of a back half step up in the consumer revenues? Like you're implying in the guidance? Thanks.

Jeffrey Maggioncalda

Sure. Not a problem. Yes, there was the number of pricing and packaging experiments that we ran? Some of them which came from some work we did in India, with some shifts in how we handle subscriptions within certain credit card rules there, where we saw some promise, actually some improvements in some of our metrics that are related to revenue. And so we ran experiments in other parts of the world, primarily Europe. And instead, we saw a decline. And as a result, we change those back to what we were doing. So yes, we've kept this quarter on an ongoing basis, we've factored any ongoing effects from them, although we've corrected it. And we did take some steps. It's a young company, we're growing, we try to be as aggressive as we can, in figuring out where there's opportunity for growth.

But you know, we're ensuring a few new sign offs as we look at future experiments. So cheers for the team for looking for more growth. And we've upped the operational game a little bit in that group, so that will not have the recurring effects beyond our forecast.

Kenneth Hahn

And as Ryan, this was something that we actually saw in Q1. We ran some tests in Q1, right. This looks pretty interesting. It might be a way to stimulate, new pain learners, with, albeit potentially a risk on the retention side. And the themes that we should run these a little bit more broadly. So basically, we took some that worked in Q1, we ran a bit more broadly in Q2, basically, in May, we said, we don't like the back end of this on the retention side, we should pull this back. But to Ken's point, there'll be some persistent but diminishing effect over the rest of the year. And so we factored that in.

Ryan McDonald

Excellent. Thanks. And maybe just a follow-up on enterprise. Obviously, you've talked at nauseam about Europe and sort of delay of deals. I'm just curious, when you talk with your customers, what you're seeing in terms of headcount and retention there, obviously, we've seen in sort of May in June, start to see some tech layoffs and mass in the US and some hiring freezes. Just curious what you're hearing in terms of potential expansion opportunities from a pure headcount perspective at your existing customers? Thanks.

Jeffrey Maggioncalda

Thanks. Yes, sure, Ryan, this is one I think that is a little bit more specific to Coursera. Generally speaking, when we sell into companies, it's a higher price tag than the competition is usually not an enterprise license agreement that covers all heads based on the number of heads, people usually buy seat licenses at a higher price for a target population. That's a generally a small portion of the overall company.

Often, what they're doing is they're up-skilling people in very high demand roles, like data science and tech and in like digital marketing and things. So I think with respect to your overall layoffs, I don't think that that's going to impact our Rescue sort of revenue retention, if you will of enterprise accounts, because we don't typically have those broader enterprise license agreements. I mean, it might certainly have caused a pullback. And maybe we might be seeing some of that in terms of new spend or sort of cross selling into other organizations.

But anecdotally, we are certainly seeing customers have their organizations restructured, downsize, and some, in some cases, the point of contact that we've had, are being moved around. And so it looks like and again, in Europe, there are there are changes that companies are making it seemingly in response to the environment. That's really pretty anecdotal. I mean, I couldn't supply you an exact count on that.

Ryan McDonald

Thanks for the color.

Jeffrey Maggioncalda

Sure. Thanks, Ryan.


Your next question comes from the line of Jason Celino with KeyBanc Capital Markets. Your line is open.

Jason Celino

Great. Thanks for filling me in. Can you just talk a little bit about the linearity of the headwinds that you saw by segment, how they kind of developed in the quarter? Did these materialize very early on or towards the end? Just trying to understand kind of how it played out.

Jeffrey Maggioncalda

Yes. I think that this is going to be different by segment. One of the things about enterprise is it's typically very back-end loaded that's kind of when the deal gets done. So you don't get a lot of visibility in the last usually a few weeks. On consumer, it's a little bit more continuous. And then degrees, frankly, is based on one of the close date for the application process. And so across each segment, the dates are a little bit different, but generally it's back-end loaded on enterprise towards the end of the quarter.

So I think, as I mentioned, on the consumer side, it was sort of a gradual sort of recognition of the conversion rates in Europe and then these pricing cuts, which are kind of midway in the quarter. On enterprise, we didn't really see anything until more the later part of the quarter because we just don't get a lot of visibility. It's not equal and linear process. And on degrees, it was more sort of the cohorts and seeing are they filling up or not when the closed bases come. Ken, anything you add to that?

Kenneth Hahn

No, I think that captures that exactly.

Jason Celino

Okay. And then just to clarify, the third quarter guidance, I imagine, it assumes for these trends to kind of remain consistent or get worse or any thoughts there?

Kenneth Hahn

Yes. Sure. No. So of course, we forecast with all available information where we think the trends are going. It also depends on segment, as Jeff referred to, is the same as visibility. So it depends how we do each of those existing, but we assume, we had assumptions on all of the key factors of the conversion rates and certainly did not factor improvement on any of them. We -- it's important for us to hit our numbers, so this quarter is a little bit painful. But we took into consideration everything we know and did not assume anything in an optimistic fashion.

Jason Celino

Great. Thank you.

Jeffrey Maggioncalda

Thanks, Jason.


Your next question comes from the line of Terry Tillman with Truist Securities. Your line is open.

Terry Tillman

Yes. Thanks for fitting me in as well on the call. I had a couple quick questions. I'll try and make it brief. So we've got about a 10 percentage point downtick in enterprise revenue. And I'm not trying to harp on that, but you're talking about enterprise sales capacity expansion and quota carrying headcount expanding. So it's kind of interesting that those are happening at the same time. Is that enterprise sales capacity levered to the European market where that seems like a softness or is it in another markets worked more resilient? And how quickly could that provide some offset in terms of assuming they become productive? And then I had a follow-up?

Kenneth Hahn

Yes, a great question, Terry. So we -- so the answer is yes, the performance by the reps has vary by region, in by reps and by product, as Jeff mentioned before, no secrecy which we're very excited about has been slower in Europe. And so as we look will reallocate quotas, we have not pulled back on the number of reps were on an overall basis happy with the performance of the reps any time you have a slower quarter, of course, you have lower productivity.

But it's -- the one thing, we're not cutting capacity, because we have any doubts of productivity going forward. We certainly did see variance by region. But that's typical. And so performance in Europe was weaker as one would naturally expect with results that weren't as good. But that's what we've seen. We've seen a bit of variability by product rep, because the reps are striped by the product and a little bit by region.

Terry Tillman

Okay. And final question, and thanks for that, but follow-up question. And thinking about ton of positive opportunities, your Career Academy, maybe you could talk a little bit more about the genuine pipeline, how many are signed up in terms of kind of referenceable customers and the ticket size for Career Academy? Thank you.

Kenneth Hahn

Yes. Sure, Terry. The Career Academy, we launched it on May 5 at conference. So it was really pretty much the two-thirds of the quarter, maybe half the quarter that was out there. We were pretty happy with the progress kind of right out of the gate. It is a sort of narrowly specified product. It's kind of add -- the basic claim is add industry micro credentials for your students, so they can get jobs when they graduate.

On the average ticket size, I'd say, it's a relatively limited number of pieces of content, that long form, usually 50 to 75 hours for these Professional Certificates. But it's about 22 Professional Certificates out of a catalog of 5,000. So it's a much more focused part of the catalog. And it is a much more sort of simple and standardized offering.

The average ticket price is lower than then a standard one, because it's a more focused offering. And we're expecting and so far the evidence suggests that this is the case that the ability to move deals through the pipeline for Career Academy will be a little bit quicker, because it's just simpler, it's easier, it's a little bit less expensive. And there seems to be a resonance of this idea of get ad industry micro-credentials to help my students to compete for students, and then help my students get jobs when they graduate.

So, I think we're looking at some favorable characteristics, although to your point. And what I was kind of trying to allude to in one of the earlier calls, if the average ticket price comes down, we couldn't see an increase in the number of deals assigned clients. But that might grow faster than the overall revenue, if the average size of the ticket is lower, it's likely going to be with Career Academy, at least in Coursera for campus.

Terry Tillman

Okay. Thank you.

Kenneth Hahn



Your next question comes from the line of Brett Knoblauch with Cantor Fitzgerald. Your line is open.

Brett Knoblauch

Hi, guys. Thanks for taking my question. First one on the enterprise side, I don't think you guys have added less than 3 million in enterprise revenue in the quarter since 4Q 2020. If you add 3 million, both 3Q and 4Q, you had call it 49% growth for the year. So I guess what is with the mid 40% guidance? Is that a result of conservatism? Do you expect to increase churn? And to that point, we've seen a lot of companies flag deal cycles lengthening, have you seen that across Coursera for business, campus or government?

Jeffrey Maggioncalda

Yes. Again, it's not -- it hasn't been renewals. It's been new bookings where it's been slower. On the revenue side, again, primarily Europe, but a little bit across the board. We've seen the effect, more in secrecy, and cheaper the -- but both are doing well. It was a deceleration versus historic. We still are confident in the enterprise business. I want to be clear about that. We feel very good about where we are and the additional products we're introducing.

So I wouldn't read into this a broad weakness in our enterprise business. That's not what we believe we're seeing. We think we've seen some slowdown in region. And again, we're continuing to -- it's the one area we've chosen to continue to invest, particularly, as we right size some of our investments going forward. Does that answer your question? Or is there anything more specific?

Brett Knoblauch

Yes. That's -- there’d be another question on just the segment margins. I think the consumer segment margin has kind of continuously kind of maybe outperformed your guys expectations, definitely mine, seems like that mix is really saying at the industry side from a content perspective, I guess, is that something you expect to persist, especially as you seems to ramp more your business towards entry level for Professional Certificates? And do you think if maybe unemployment kicks up, you'll see the university content, maybe see that uptake a bit more? How should we think about that dynamics?

Jeffrey Maggioncalda

Yes. I generally say on the consumer segments, it's kind of just what kind of content are individuals around the world looking for these days? It seems like what we're seeing is people are coming because they wanted to get a new job. A lot of people want to become data analysts and computer scientists and people who make money. They have more flexibility in a job.

So a lot of that kind of content does skew towards industry. I think that if we continue to see growth in consumer because of people looking to start and switch careers, which is what we've been seeing, and that has not abated, and there's not an obvious reason, why would abate. The kind of content that they will be looking for is this sort of career switchers, Professional Certificate content.

And so yes, I remember when we first started talking about this, as we started seeing it showing up in May was Q2 of 2021, it has continued to not just persist, but grow a bit. Unless consumers switch away to a different kind of content, I think it'll persist. I also -- I do want to say that we are reinvesting a lot of the money into supporting and promoting these programs.

And so we're trying to build up the best, fastest of what the best set of entry level Professional Certificates as possible. We're marketing them pretty heavily. And so what's not showing up on some of the content fee cost of sales line is showing up a bit on the sales and marketing where we're promoting these, and also someone R&D, where we're capitalizing some of the costs of the content development.

So it's not that it all would just naturally be formed at the bottom of the line. We are reinvesting some of this in building out more content and making sure that we really promote this. We just think that this is a time when a lot of people are looking for this kind of content. And frankly, this kind of content is pretty unique to Coursera, and generally speaking.

Brett Knoblauch

No, I agree. And maybe just quickly, one last question on Coursera Plus. I think last quarter, you said it was 30% -- north of 30% of the consumer revenue. Was there any weakness related to Coursera Plus? And I guess any update on how or that metric as a percentage of consumer revenue?

Jeffrey Maggioncalda

So there was no specific weakness in Coursera Plus, if Coursera Plus is grown throughout this year. It's still north of 30%. We're not looking to get specific guidance on the Coursera Plus composition of the total on an ongoing basis, but general colors where we like to provide, I'll confirm or north of 30%. And it's grown throughout the years.

So we feel great. It's continued to be adopted. Where does it cap out? We don't know. It's great revenue. It's nice to have recurring revenue and makes it easier for the consumer team to continue to grow their revenue. So that's been great. But yes, so all is well in Coursera Plus.

Brett Knoblauch

Awesome. Thanks, guys. I appreciate it.

Jeffrey Maggioncalda


Cam Carey

Great. Thanks, Brian. That wraps the Q&A. A replay of this webcast will be available on our Investor Relations website, along with the transcript in the next 24 hours. We appreciate you joining us today.


This concludes today's conference call. You may now disconnect.

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