5 Channel Partner and MSP Market News Updates: 13 May 2022
Here are five (actually more) technology news updates, insights, chatter, and plenty more to start your day for Friday, May 13, 2022. Sip up.
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- Who We Serve: Content for managed services providers (MSPs), IT service providers (ITSPs), cybersecurity consultants, technology solutions providers (TSPs), systems integrators, VARs, independent software vendors (ISVs), distributors and any other partner acronym that further caffeinates our already stellar SEO.
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A. Today’s Technology, Channel Chief and MSP Partner Program News
1. Zombie Unicorn Concerns: The share prices of newly public tech companies, as tracked by the Renaissance IPO index, have lost roughly 60% of their value since October, and tech investors have begun to fret about zombie unicorns, or high-valuation startups that are unable to raise additional capital and thus must drastically cut costs, Bloomberg reports.
3. Secure Content Management – Part One: Egnyte has enriched its partner program to include unique packages, faster response time for invoicing, and dedicated training for new solutions. The updates include:
- Dedicated pricing and packages for partners.
- A designated team of experts to help MSPs select security, governance, and industry solutions.
- An expanded partner portal and enablement solutions.
4. Secure Content Management – Part Two: Egnyte has hired BugCrowd, SonicWall and Juniper Networks veteran Ravi Chopra as CFO. The move comes as Enyte pushes beyond $160 million in annual recurring revenue (ARR), CEO Vineet Jain indicated.
6. New Relic Financial Results, CFO Transition: New Relic’s revenue was $206 million in Q4 of fiscal 2022, up 19% from Q4 of fiscal 2021. The results essentially met Wall Street’s expectations. Meanwhile, New Relic CFO Mark Sachleben has decided to retire. Sachleben will remain in his role until New Relic finds his successor.
7. Funding – Fiber Network: LOGIX Fiber Networks, the largest independent fiber provider in Texas, has secured $100 million in capital commitments from its partners Astra Capital Management and O’Connor Capital Solutions, the private credit unit of UBS O’Connor LLC. The goal: Fund key customer-driven growth initiatives, support an accelerated network evolution plan and refinance a portion of its senior debt, LOGIX said.