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Marc Gasol nears return from Spain, makes final stop in NBA trading: report

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KEY POINTS

  • Los Angeles Lakers have agreed to buy Marc Gasol from the Memphis Grizzlies
  • The Lakers acquired the Chinese center selected by the Grizzlies in the 2016 NBA Draft
  • Gasol could adapt to Barcelona and play alongside his brother Pau

Marc Gasol’s future seems mapped out, and that’s what most had speculated. The former NBA champion will return home to Spain after making a short stop on the same team where he started his NBA career, according to a report.

Los Angeles Lakers to send center-all-star to Memphis Grizzlies in exchange for Wang Zhelin draft rights, a 2024 second-round pick and money, according to one official statement of the Lakers released Friday.

While the return to Memphis is fine for Gasol, it will be short-lived.

Adrian Wojnarowski from ESPN, citing anonymous sources, reported that Gasol and the Grizzlies will work together on a “waiver and release” that will allow the three-time All-Star to stay in Spain with his family. International Business Times could not independently verify this information.

Gasol was selected 48th overall in the 2007 NBA Draft by the Los Angeles Lakers. However, he was soon sent to the Grizzlies as part of a commercial program that included his older brother, Pau, who was sent from Memphis to Los Angeles. The move turned out to be beneficial for the 7-foot-1 player, who went on to become the Grizzlies franchise player.

For his part, Pau, 41, won two NBA titles with the Lakers in 2009 and 2010. His younger brother’s only NBA title came with the Toronto Raptors in 2019.

The commercial announcement puts an end to speculation about the future of Gasol. It was a forgettable race for the 36-year-old Spaniard, and his use for the 2021-22 season has gone from bad to worse.

The reason is that the Lakers welcomed Dwight Howard again and then added DeAndre Jordan via the buyout market. Howard, Jordan and Anthony Davis are expected to take the helm in the midst of the Lakers this coming season.

Once Gasol and the Grizzlies finalize this release, it would align with a report in July that Barcelona manager Juan Carlos Navarro envisioned the 36-year-old as an addition to his squad. It would also allow the 7-foot-1 cager to find his brother Pau.

The only other option for Gasol is retirement. But with the chance to play at least another year alongside his brother, it could be the perfect end to his basketball career.

Pau Gasol # 16 of the San Antonio Spurs chats with his brother Marc Gasol # 33 of the Memphis Grizzlies Photo: Getty Images | Ronald Cortes



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The Balearics have picked up two out of three Dutch tourists

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The Balearic Islands have picked up two out of three Dutch tourists. image: Wikipedia

Data shows that the islands have recovered two in three Dutch tourists compared to 2019.

The Minister of Economic Model, Tourism and Labor, Iago Negueruela, met yesterday September 8 with the Ambassador of the Netherlands to Spain, Jan Versteeg, to analyze the tourist season. Among the data to be taken into account, it appears that the islands have recovered two out of three Dutch tourists compared to 2019.

During the meeting, the two parties analyzed the tourist season and the current situation, in an atypical year but in which the recovery of travelers from the Netherlands to the Balearics is “positive”.

According to the latest official data available, corresponding to the month of July, the Netherlands is already the sixth largest market, very close to the fifth (Switzerland).

One of the key factors in the recovery of this market during the current tourist season has been the confidence shown by the archipelago as a safe destination when, at the start of the season, the Netherlands placed the islands in their list of safe countries to travel. in its COVID traffic light system.

The meeting took place in the presence of Minister Iago Negueruela, accompanied by the Director General of Tourism, Rosana Morillo, the Ambassador of the Kingdom of the Netherlands to Spain, Jan Versteeg, who was accompanied by the Consul of the Netherlands to the Islands Balearic Islands, Ingrid van de Reijt.

Negueruela and Versteeg highlighted the possibilities offered by the islands to tourists and agreed to continue working together to end excessive tourism in problematic areas.

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Today’s Song: A Sun-Adorned Look at Broken Love on Andy Shauf’s “Spanish on the Beach”

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“Spanish On The Beach” is a playful mix of charming guitar and woodwind melodies that hide a more sinister story, Andy Shauf capturing audiences’ attention with his iconic lyrical prowess.
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Listen to: “Spanish On The Beach” – Andy Shauf


Andy Shauf is kind of an oxymoron: such a soft and calm voice delivering some of the most turbulent and devastating stories ever. His affinity for storytelling is at the heart of Shauf, each of his songs is a new and exciting tale that takes listeners through the lives of the characters he creates. “Spanish on the beach”Revisits such a character – such a relationship – with seductive sonic flair. Fans have known her as Jenny.

You spoke spanish on the beach
I tried to make up my mind
If I could understand a word you said
You took my hand and we walked out
I forgot to lock the door
You were waiting in a long dark dress
Spanish on the <a class=Beach – Andy Shauf” width=”350″ height=”350″ data-lazy-srcset=”https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-350×350.jpg 350w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-1024×1024.jpg 1024w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-150×150.jpg 150w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-768×768.jpg 768w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-370×370.jpg 370w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-570×570.jpg 570w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-770×770.jpg 770w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-1170×1170.jpg 1170w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-580×580.jpg 580w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-24×24.jpg 24w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-48×48.jpg 48w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-96×96.jpg 96w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-300×300.jpg 300w, https://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf.jpg 1200w” data-lazy-sizes=”(max-width: 350px) 100vw, 350px” data-lazy-src=”http://atwoodmagazine.com/wp-content/uploads/2021/09/Spanish-on-the-Beach-Andy-Shauf-350×350.jpg?is-pending-load=1″ srcset=”data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7″/>
Spanish on the Beach – Andy Shauf

Tender pinches of fingers thus joined by Shauf’s whispered voice meet listeners with what feels like a comfortable jaunt into the past. All is well, the track plunges into moments of love, perhaps influenced by a drink or two. With the first chorus, Shauf hums “I wish it was permanent”In what seems like a desperate tone, but more so at the end of their stay in Heaven rather than at the end of a relationship. It’s these aspects that make Shauf’s narrative compelling – the visceral details of the surroundings, the step-by-step actions of the protagonists, and the slow descent into grief. Many of his stories start out innocently enough, with Shauf’s whimsical charm helping that sentiment, but like “Spanish On The Beach,” listeners soon see the cracks.

i was wondering what you would have done
If I had bought the ring
And decided to get down on one knee
And in an opera voice
I would start singing with the band
It would be so mortifying
That makes me laugh

The percussion in the foreground adds another layer of sunshine, and as the second chorus, with the alluring harmonies of this signature clarinet, comes to an end, tragedy occurs. Thoughts of “what ifs,” regrets and accomplishments of a relationship over – it all falls apart. The soundtrack of loss is never a dark sound for Shauf. Instead, listeners kiss her with a smile and a drink in hand; a quiet melody that soothes rather than disturbs. Such is life sometimes: mountains of suffering even in the most picturesque moments of life. His last words, “Got on the plane and everything changedLinger in the mind. These memories of love and lust are now distant memories, ending the story with magnificent harmonies, closing the window on this life. For the moment.

The last day we were there
You said you wished we could stay
Got on the plane and everything changed

A mastery of lyricism and delivery skims the surface of Shauf’s musicality. Every track, every album, offers listeners something totally unique in the form of adventures of the heart, soul or inner thoughts of an unlucky party animal. “Spanish On The Beach” is no different. Its sustained pace and delightful instrumentation take fans by surprise, making it one of the best singles of the year.

– –

Listen to: “Spanish On The Beach” – Andy Shauf


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IFM receives approval from Spanish supervisor to buy 22.7% of Naturgy

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The logo of the Spanish energy company Naturgy at its headquarters in Madrid, Spain on October 9, 2018. REUTERS / Sergio Perez / File Photo

  • CNMV declares that IFM’s offer has met all conditions of the Spanish government
  • The IFM has five days to make the public announcement of its offer
  • Naturgy’s shareholders have 30 days to accept the offer

MADRID, Sept. 8 (Reuters) – Australian fund IFM received approval from Spain’s market supervisor on Wednesday to acquire a 22.69% stake in Spanish energy group Naturgy (NTGY.MC), ending the hour to launch the 4.9 billion euros ($ 5.79 billion). ) surgery.

The IFM has up to five days to make a public announcement. Once the offer and its conditions were publicly announced, Naturgy’s shareholders would then have 30 days to tender their shares.

In August, the government approved IFM’s partial takeover bid on the condition that it protects jobs, investments and the supply of gas and electricity. Read more

CNMV, as the supervisor is called, said in its statement Wednesday that the bidder has met all requirements set by the Spanish government.

After withdrawing the dividend payments, the IFM offers 22.07 euros per share, against 23 euros per initial share, to buy a 22.69% stake in Naturgy. Naturgy’s shares were trading at 21.73 euros on Wednesday at 12:15 GMT.

The offer is subject to obtaining at least 17% in the Spanish energy group.

The IFM said in a statement on Wednesday that it found its offer attractive because it involved a 28.9% premium over the average price for the six months preceding its first announcement at the end of January.

In addition to Criteria, which currently holds nearly 26% in the energy group, Naturgy’s main shareholders are the private equity funds CVC and GIP with 20.7% and 20.64% of the capital, respectively.

Criteria, the main shareholder of Caixabank (CABK.MC), is 100% owned by the foundation of the former La Caixa savings bank.

Although CNMV approval is awaited, Spanish investment firm Alantra had said in a note to clients prior to CNMV’s approval that it would not rule out IFM lowering the minimum threshold to guarantee l ‘offer.

“Under the current shareholding structure, reaching the minimum threshold of 17% will require 50% of the free float to accept the offer, and it’s not a done deal,” Alantra said.

The IFM declined to comment.

A source close to the IFM said the Australian fund was not considering lowering the minimum threshold.

According to the takeover prospectus published on Wednesday, the initiator can lower the minimum threshold to 10%.

Report by Jesús Aguado; Editing by Nathan Allen, Inti Landauro and David Evans

Our standards: Thomson Reuters Trust Principles.


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Disney stores continue to close across the UK –

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There have been rumors that all UK branches of the Disney store will close by the end of 2021. While Disney has not officially confirmed these rumors, it seems increasingly likely.

We have already seen 60 stores in North America (including all stores in Canada) close their doors and this week the UK has been rocked by several closures.

Current rumors indicate that all UK stores except the Oxford Street flagship store in London will close.

Locations where stores have already closed include Blackpool, Southhampton and now the popular Bluewater Mall store.

READ: Disney keeps ‘The Little Mermaid’ sequel on table

Although small, the Bluewater branch was popular with many customers visiting the store at least once on each trip.

Outside the UK, stores will also close in France, Spain and the Republic of Ireland, with only the Dublin store remaining open.

Why all these closures?

The pandemic has hit many businesses and Disney is no exception. With their resorts closed for most of the year and their movies delayed for most of 2020, they’ve worked hard to keep costs down wherever they can.

Exclusive: Disney legend Hayley Mills talks about her new memoir, “The Parent Trap” and more (interview)

Outside of flagship stores, Disney will be focusing its efforts on its ShopDisney websites which have been operating for many years now.

As stores close across the United States, Disney will open pop-up stores in 160 targets. It remains to be seen whether other countries will receive similar pop-up stores, but since the UK does not have Target, Disney could potentially strike a deal with ASDA (the UK version of Walmart and the closest equivalent of Target ).


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Air travel to Europe hits less than 40% of 2019 levels in July and August, ForwardKeys reports – The Moodie Davitt Report

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EUROPE. New research from ForwardKeys reveals that air travel to European destinations in July and August was 39.9% of pre-pandemic levels. This is an improvement from the comparable period last year (26.6% of 2019 levels), when the COVID-19 pandemic caused widespread blockages and vaccines were not still approved. The travel data analyst noted that the outlook “is not improving as bookings slowed towards the end of the summer period.”

This summer, Greece stood out, with 86% of bookings in July and August 2019, followed by Cyprus at 64.5%, Turkey 62% and Iceland 61.8%. ForwardKeys noted that Greece and Iceland were among the first countries to announce that they would accept visitors who had been fully vaccinated, may present a negative PCR test, or may show evidence of their recovery from COVID-19.

The countries that have performed least well in Europe over the summer are those that rely more on long-haul tourism, such as France and Italy, and those that have imposed the more “onerous and volatile” travel restrictions. Like the United Kingdom, which only reached 14.3%. 2019 arrivals in July and August.

Greece stood out among European travel destinations in July and August, delivering a clear and consistent message to potential visitors about who can enter the country; Click to enlarge

Excluding low-cost airlines, intra-European flights represent 71.4% of arrivals, against 57.1% in 2019.

The sharp decline in long-haul visitors, who tend to stay longer, spend more and focus their attention on cities and sightseeing, was highlighted in the rankings of top and bottom performing local destinations.

London was at the bottom of the list of busiest European cities, with just 14.2% of arrivals in 2019. This list was led by Palma de Mallorca, which reached 71.5% of 2019 levels and Athens at 70, 2%. Next come Istanbul with 56.5%, Lisbon 43.5%, Madrid 42.4%, Paris 31.2%, Barcelona 31.1%, Amsterdam 30.7% and Rome 24.2%.

Uncertainty among travelers over visiting London over the summer has been exacerbated by government changes to entry rules, ForwardKeys noted; Click to enlarge

In comparison, leisure destinations held up better. A ranking of all major local destinations (those with a market share greater than 1%) was dominated by traditional beach resorts or their gateway. The leaders were Heraklion and Antalya, which topped pre-pandemic levels by 5.8% and 0.5% respectively. They were followed by Thessaloniki, 98.3%; Ibiza, 91.8%; Larnaca, 73.7% and Palma Mallorca, 72.5% (see table).

Heraklion and Antalya topped pre-pandemic booking levels as travel rebounded in some European markets; Click to enlarge

Some destinations fare relatively better or worse as the rules change in their main home markets. Portugal, a favorite destination for British holidaymakers, suffered when the UK changed its designation from green to amber in June. Travel to Spain was hit in late July when Germany warned against all but essential travel.

ForwardKeys Vice President Olivier Ponti commented: “When you consider how terrible things have been for tourism in Europe last year, this summer has been a story of a very modest recovery. Compared to normal times, the continued low intensity of international air travel, below 40% of normal, has been extremely damaging to the aviation industry. The continued absence of long-haul travelers, especially from the Far East (it only reached 2.5% of pre-pandemic volumes this summer) will take a heavy toll on the economy of visitors from several European countries. “

Ponti concluded: “If there is one element of consolation, it is the people who ‘stay on vacation’, that is, take a vacation in their own country. While domestic aviation holds a minority share of the market in Europe under normal circumstances, it has fared much better during the pandemic as it has not been subject to such harsh travel restrictions. For example, the Canaries and the Balearics received more visitors from Spain than in the normal season.


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Tourism in Spain: Spain’s tourism sector seeks to extend high season until autumn to compensate for losses due to pandemic | Economy and business

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Tourists in Seville’s Plaza de España, September 3.PACO PUENTES / EL PAS

Spain’s regional governments and tourism industry are choosing to make this summer’s tourist season as long as possible. The goal is to continue to attract visitors until at least November, in order to recover some of the losses caused by the coronavirus pandemic. Catalonia, Andalusia, the Canary Islands, Valencia and the Balearic Islands use vouchers, international campaigns and sporting or cultural events to achieve this goal. With extra time for the fall season, administrations and businesses alike hope to bridge the gap caused by the absence of foreign visitors, which were down 55.5% in July from pre-pandemic levels.

Andalusia. The southern region was Spain’s main destination this summer, accounting for 45% of national demand and with occupancy levels above 80% in August. The numbers, in some cases above best expectations, have prompted the regional government and cities like Seville, Granada and Cordoba to believe that the inertia of the summer months will continue until October. The region is planning campaigns until Christmas.

The city of Seville has suffered two consecutive years without its famous Easter processions and Feria, events that account for 17% of the region’s GDP. He is however optimistic before the arrival of autumn. “In addition to the thermometer represented by the strong national demand for sun and beach tourism, we are optimistic given the return of international flights and the revitalization of major trade fairs from the fall”, explains Antonio Muñoz, delegate for habitat urban, to culture. and tourism in the city. Seville will host important in-person events such as the Tourism Innovation Summit. But the sector remains cautious, and stresses that the income of the summer is not enough to compensate the cumulative losses of more than 70% of the last season.

Catalonia. The arrival of the fifth wave of Covid-19 in early summer posed challenges for the regional government. “There was a recommendation not to travel to Catalonia, so we created a crisis cabinet in which we approved a special budget of € 500,000 for promotion abroad and an additional € 100,000 for an advertising campaign intended to the domestic market “, explains the director general of tourism, Marta Domènech. Given restrictions on flights from some countries, the region has targeted senior tourists from France, the Netherlands, Germany and Belgium, those who usually visit campsites. According to Domènech, “there are signs that people are still interested in coming in the fall”.

Extending the season will not be easy in family destinations dependent on school holidays, such as the Costa Daurada and the Costa Brava. “But we have to restart the activity to try to seasonally adjust [tourism], especially now that everyone is starting to assume that the Covid will be part of our lives, ”explains Berta Cabré, president of the Federation of Hotel Companies of Tarragona. In this province, they have detected an increase in camping bookings in the coming weeks and they are also promoting tourism related to sporting events and Halloween.

In the city of Barcelona, ​​occupancy in open hotels was around 50%, although 43% of these businesses are currently closed. Xavier Mercé, the city’s tourism manager, says promotions must “take full advantage of the cultural agenda that is starting now and create a bridge between summer and Christmas”.

Tourists on Peguera <a class=beach in Mallorca in July.” class=”lazyload block width_full” width=”8192″ height=”5464″ loading=”lazy” src=”https://images.english.elpais.com/resizer/XTDl4tKFtqcMKkMLoRdrl5fTZfA=/414×0/cloudfront-eu-central-1.images.arcpublishing.com/prisa/PDTX65L4Q6VAO74UDWQVGWG2FI.jpg” srcset=”https://images.english.elpais.com/resizer/XTDl4tKFtqcMKkMLoRdrl5fTZfA=/414×0/cloudfront-eu-central-1.images.arcpublishing.com/prisa/PDTX65L4Q6VAO74UDWQVGWG2FI.jpg 414w,https://images.english.elpais.com/resizer/RVG5bo1U2OEknF94cw3NHanHi-c=/828×0/cloudfront-eu-central-1.images.arcpublishing.com/prisa/PDTX65L4Q6VAO74UDWQVGWG2FI.jpg 640w,https://images.english.elpais.com/resizer/keW4a4OlfV_VPLPQt681TPtQGCk=/980×0/cloudfront-eu-central-1.images.arcpublishing.com/prisa/PDTX65L4Q6VAO74UDWQVGWG2FI.jpg 1000w,https://images.english.elpais.com/resizer/zaJ3MZhWkiQItV824AIpr2hyFgg=/1960×0/cloudfront-eu-central-1.images.arcpublishing.com/prisa/PDTX65L4Q6VAO74UDWQVGWG2FI.jpg 1960w”/>
Tourists on Peguera beach in Mallorca in July.CATI CLADERA / EFE

The Balearic Islands. This region has also spent years trying to attract visitors outside of the peak summer season, and this year has stepped up those efforts. “All of our efforts are aimed at extending the season,” explains Tourism Manager Iago Negueruela. From September, the success or otherwise of international advertising campaigns with airlines will become clear: 2.5 million euros have been invested to guarantee connectivity between the islands and foreign destinations. Another campaign, with the same budget, is about to be finalized, and aims to ensure travel links between the Balearics and the cities of the Iberian Peninsula.

“These two campaigns will ensure connectivity, which is a basic requirement for keeping hotels open,” explains Negueruela. “We have to work in October and November to guarantee more income for people on permanent seasonal contracts in our islands. He adds that the region is looking to promote tourism related to trade fairs, sporting events and culture, and expects it to be “a good fall”.

Valence. Companies in the region are looking to extend the current season as much as possible to compensate for the first five months of the year, which saw very low occupancy. Toni Mayor, president of the Hosbec hotel association, admits that the behavior of the market over the next four months is still unknown.

The association is waiting to see if Spain will be removed from the UK’s Orange Travel List, which currently means visitors returning from the former country to the former must take a coronavirus test before traveling as well as another once at destination. British nationals represent one of the main markets for cities such as Benidorm, among others.

The mayor is also counting on a peak of activity thanks to the vouchers that the regional government provides for travel, and which count on a budget of 16 million euros. These are intended to encourage weekend trips for residents of the region and will be activated again on September 15.

The region is also counting on the return of organized tours for seniors, another area of ​​activity that has been put on hold due to the pandemic.

Luis Martí, director of the Confederation of Tourism Entrepreneurs of Valencia, which represents 40,000 spaces in hotels and hospitality, agrees that the voucher system has stimulated national demand and hopes that the extension of the campaign and promotional activities will attract business and cultural visitors. “We had good levels of occupancy in the summer, but the first five months of the year were a disaster, so we will try to extend the season as long as possible,” explains Martí. Internationally, they are looking for promotional campaigns in markets like Italy, France and the Netherlands.

Based on reports from Eva saiz, Josep Catà, Lucia Bohórquez and Cristina Vázquez.

english version by Simon Hunter.

Surfer dies of serious arm injury in shark attack on beach in Australia, World News

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In a shark attack, a man was killed on Sunday at Emerald Beach on Australia’s east coast. The shark inflicted a “significant” injury to his arm, the New South Wales Ambulance (NSW) said.

After the incident was reported, a four-member medical team from the Westpac rescue helicopter, which included an intensive care doctor and an intensive care paramedic, were dispatched to the scene, according to NSW Ambulance.

Watch: Spain resumes famous bull-racing festival after COVID pandemic

NSW Ambulance Inspector Chris Wilson said: “A number of local surfers and passers-by came to the aid of this man. Despite the best efforts of bystanders, paramedics and other emergency departments, the patient could not be resuscitated. ”

According to NSW Ambulance, the man is in his 20s.

Also read: Israel to reopen borders for tourists from September 19 for some countries

New South Wales Police Inspector Ben Atkinson said: “Following the incident, a number of beaches around the area have been closed for the next 48 hours.”

In terms of the number of unprovoked shark encounters with humans in 2019, Australia ranks behind the United States according to the University of Florida’s International Shark Attack File, Reuters said.


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Spain’s Factorial Raises $ 80 Million at $ 530 Million Valuation Thanks to Strong Traction for “Workday for SMBs” – TechCrunch

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Factorial, a Barcelona startup that has built a platform that allows SMEs to perform HR functions with the same type of tools that are typically used by much larger companies, today announces funding to bolster Its own position: the company has raised $ 80 million, funding it will use to expand its operations geographically – especially deeper into Latin American markets – and to continue to enrich its product with more features.

CEO Jordi Romero, who co-founded the startup with Pau Ramon and Bernat Farrero, said in an interview that Factorial has experienced a huge growth boom over the past 18 months and has more than 75,000 clients in 65 countries, with the average size of each customer in a range of 100 employees, although they can be considerably smaller (single-digit) or potentially up to 1,000 (the “M” in SMB, or PME as it is often called in Europe).

“We have a generous definition of small business,” Romero said of how the company started with a goal of 10 to 15 employees, but is now working in what size bracket it is. “But that’s the limit. This is the segment that needs the most help. We see other competitors trying to get into SMEs and they screw up their product by making it too complex. SMBs want solutions that have as much data as possible in one place. It is specific to the SME. Customers can also include smaller franchises from much larger organizations: KFC, Booking.com, and Whisbi are some of those that fall into this category for Factorial.

Factorial offers a one-stop shop to manage hiring, onboarding, payroll management, leave, performance management, internal communications, etc. Other services such as the payroll process itself or candidate sourcing, it partners and integrates closely with more localized third parties.

Series B is being led by Tiger Global, and former investors CRV, Creandum, Point Nine and K Fund are also participating, in a valuation we understand from sources close to the deal at around $ 530 million post-deal. money. Factorial has raised $ 100 million to date, including a $ 16 million Series A round in early 2020, just before the Covid-19 pandemic really took hold of the world.

This timing turned out to be important: Factorial, as you would expect from an HR startup, was shaped by Covid-19 in a pretty powerful way.

The pandemic, as we’ve seen, has dramatically changed how – and where – many of us work. In the world of office jobs, offices have largely disappeared overnight, with people switching to working from home under shelter-in-place orders to curb the spread of the virus and then in many cases even staying there. after these have been lifted as businesses grappling with both the balance between the best (and least contagious) way forward and their own employee’s demands for safety and productivity. Frontline workers, meanwhile, faced a whole new set of challenges in the line of duty, from minimizing exposure to the coronavirus to dealing with massive volumes of demand for their services. In both cases, organizations faced economic contractions, time off, and in other cases hiring spurts, despite not having an office to carry it all out.

It all had an impact on HR. People who needed to manage others, and those who worked for organizations, suddenly needed – and were willing to pay for – new kinds of tools to fulfill their roles.

But it wasn’t always like that. At first, Romero said the company needed to adapt quickly to what the market was doing.

“We are targeting HR managers and they are currently very distracted with time off and layoffs, so we turned around and focused on how we could provide them with the best value,” Romero told me during Series A in early 2020. Then Factorial made their product free and sparked new interest from companies that had never used cloud-based services before but needed to quickly set up something. thing to be able to use it while working from home (and this migration to the cloud has turned out to be much more trendy which has manifested itself in several industries). Those who turned to Factorial had previously kept all of their recordings in local files or at best a “Dropbox folder, but nothing else,” Romero said.

It also provided tools specifically to address the most pressing HR needs at the time, such as advice on implementing leave and layoffs, best practices for communication policies, and more. “We had to get creative,” Romero said.

But it was not all easy. “We suffered in the beginning,” Romero says now. “People took time off and [frankly] less attention was paid to purchasing software. People just survived. Then, little by little, people realized that they had to improve their systems in the cloud, better manage remote people, etc. So after a few very slow months things started to take off, he said.

The rise of Factorial is part of a larger, longer-term trend in which the corporate tech world has finally started to focus on how to use the tools that were originally designed. for large organizations and size them for small clients.

The metrics are completely different: large companies are more difficult to gain as customers, but represent a huge gain when they sign up; small businesses represent a real scale because there are so many in the world – 400 million, representing 95% of all companies in the world. But the same goes for product demands, as Romero pointed out earlier: SMEs also want powerful tools, but they need to work more efficiently and out of the box.

Factorial is of course not the only HR startup to have looked into this subject. Among the broader domain are PeopleHR, Workday, Infor, ADP, Zenefits, Gusto, IBM, Oracle, SAP and Rippling; and a competitor very close to Europe, German Personio, raised $ 125 million on a valuation of $ 1.7 billion earlier this year, speaking not only of the opportunity but of the success he sees in it. .

But the major fragmentation of the market, the fact that there are so many potential clients, and Factorial’s own quick pull are three reasons investors approached the startup, which was not proactively seeking funding when it did. decided to go ahead with this B series.

“The HR software market opportunity is huge in Europe, and Factorial is incredibly well positioned to take advantage of it,” John Curtius, partner at Tiger Global, said in a statement. “Our diligence found a product that delighted customers and a world-class team well positioned to realize Factorial’s potential. “

“It is now clear that labor markets around the world have changed over the past 18 months,” added Reid Christian, general partner at CRV, which led its previous cycle, which was CRV’s first investment in Spain. . “It has put a strain on employers who have to manage their HR processes and properly serve their employees. Factorial has always been designed to help employers in all geographies meet their human resource and payroll needs, which has only accelerated demand for their platform. We are delighted to continue to support the business throughout this fundraising and the next phase of business growth. “

Notably, Romero told me that the fundraising process has really evolved between the two tours, with the first requiring him to fly around the world to meet people, and the second taking place via video link, while he was recovering from Covid-19. Considering not too long ago, Europe’s most ambitious startups were encouraged to move to the US if they wanted to be successful, it seems it’s not just the world of HR that is changing. quickly depending on new global conditions.


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Spain: rescuers remove 208 migrants from boats at sea and ocean

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Spanish rescuers removed 208 migrants from small boats that were heading to the southern coast of the Iberian Peninsula or the Canary Islands in Spain on Saturday.

Ships operated by the Spanish Maritime Rescue Service intercepted boats in the Mediterranean Sea and the Atlantic Ocean, adding to the increasing number of arrivals of people who risked a perilous sea voyage to reach Europe.

A total of 106 migrants, including 44 women and 20 minors, were found in boats heading for the Canary Islands of Gran Canaria and Lanzarote, rescue services said.

Four other boats were carrying 102 migrants crossing the Mediterranean to mainland Spain. All but one of the people on board were men.

Spain has seen a 49% increase in illegal migration this year compared to January-August 2020, according to the Interior Ministry. A total of 20,491 people arrived on Spanish soil, mainly by sea.

The International Organization for Migration reports that nearly 500 migrants have died or disappeared as they tried to reach Spain this year. Aid groups monitoring migration flows say the real number is likely much higher as some shipwrecks and drownings go unreported.

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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