Latest news with #ArielCohen
Skift
22-05-2025
- Business
- Skift
Navan Takes a Step Towards an IPO
U.S. stock markets are definitely not cooperating with Navan's long-held plans to IPO. Navan has hired underwriters for an IPO that could value the company at $8 billion. The move toward an IPO, reported by Reuters, follows Navan officials discussing such a prospect several times over the last couple of years. Goldman Sachs is the lead underwriter, according to the report, and an IPO, depending on market conditions, would take place in the fourth quarter at the earliest. A year ago, Navan CEO Ariel Cohen said the company is "not far" from an IPO, though he noted the timing could be affected by market conditions and geopolitical factors outside the company's control. In April 2024, Navan brought back former Chief Revenue Officer Rich Liu as CEO of Navan Travel and appointed former New York Stock Exchange CFO Amy Butte to its board, CNBC reported following an interview with Cohen in May 2024. Navan offers travel management, expense and payments services. Both Liu and Butte have IPO experience. Cohen, also a Navan co-founder, has been discussing IPO prospects for several years. In 2022, the company filed confidential IPO paperwork with the aim of going public at a $12 billion valuation. Business Insider reported in the summer of 2023 that Navan would seek to go public in about a year, subject to market conditions. Correction: The CNBC interview with Navan CEO Ariel Cohen took place in May 2024, not May 2025. The article has been updated to reflect that.
Skift
21-05-2025
- Business
- Skift
Navan 'Not Far' From IPO, Aims for 2025 Profitability
U.S. stock markets are definitely not cooperating with Navan's long-held plans to IPO. Navan CEO Ariel Cohen said the company is "not far" from an IPO, though he noted the timing could be affected by market conditions and geopolitical factors outside the company's control. In April, Navan brought back former Chief Revenue Officer Rich Liu as CEO of Navan Travel and appointed former New York Stock Exchange CFO Amy Butte to its board, CNBC reported following an interview with Cohen earlier this week. Both Liu and Butte have IPO experience. Reuters reported earlier this month that Navan hired underwriters for an IPO that could value the company at $8 billion. Navan offers travel management, expense and payments services. Cohen, also a Navan co-founder, has been discussing IPO prospects for several years. In 2022, the company filed confidential IPO paperwork with the aim of going public at a $12 billion valuation. Business Insider reported in the summer of 2023 that Navan would seek to go public in about a year, subject to market conditions. Profitability In Sight? In December 2023, Navan, formerly called TripActions, laid off 5% of its staff as it sought to focus on profitability. Cohen told CNBC this week that Navan will reach profitability in 2025. He said Navan's revenue is growing at a 40% clip overall, while its travel business and fintech arms are expanding 30% and 100%, respectively. Founded in 2015, Navan signed a contract with Citi in 2024 to use Navan Connect, a new product for expense reporting that would be made available to Citi Commercial Bank card holders, CNBC reported. Cohen said Navan Connect expands the company's total addressable market, and it's having discussions with other banks about signing on. Here's a video of Navan CEO Ariel Cohen's appearance on CNBC.
Associated Press
13-05-2025
- Business
- Associated Press
Unibeam Elevates the Trust Anchor, Debuts SIM-Level Authentication to Block Transaction Fraud
Introducing a revolutionary approach to secure business transactions with SIM-native authentication, eliminating vulnerabilities of traditional mobile security. 'Unibeam's 'On-S' solution is untouchable by fraud. It's the holy grail for telecoms and businesses. I'm confident this will change the OTP market in the near future'— Ariel Cohen, General Partner, AnD Venture. TEL AVIV, ISRAEL, May 13, 2025 / / -- Unibeam launched the world's only SIM-native authentication platform for business transactions, eliminating the risks of legacy, mobile network-based methods. Most solutions that claim to be 'SIM-based', such as OTP, actually rely on mobile operator data, not the SIM card itself. This makes them vulnerable to spoofing, SIM swap fraud, and AI-powered attacks. Unibeam changes that by verifying identity directly inside the SIM's secure enclave - the same tamper-resistant chip used in bank cards. 'Network trust breaks down when real money is on the line,' said Carlos DaSilva, VP Products at Unibeam. 'We moved the trust anchor inside the SIM - where AI and other threats can't touch it.' Unibeam creates dynamic identifiers inside the SIM, works on all SIM and eSIM-enabled devices, and instantly detects fraud attempts - all without apps, SDKs, or network involvement. Deterministic, device-native, and immune to manipulation, Unibeam is the first authentication platform built for the real risks of business transactions. For more information or to request a demo, visit About Unibeam Unibeam is a cybersecurity company specializing in eSIM/SIM-based authentication solutions for enterprises and service providers. Its platform uses deterministic authentication to verify identity with precision, without relying on behavioral data, passwords, or guesswork. By combining hardware-based security with frictionless user experience, Unibeam helps organizations stay ahead of fraud, meet regulatory standards, and build trust in a digital-first world. For more information, please visit Dana Poleg Unibeam [email protected] Visit us on social media: LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
14-03-2025
- Climate
- Yahoo
Tornado touches down in Pico Rivera, leaving trail of destruction behind
Residents were stunned after a tornado touched down in Pico Rivera early Thursday morning, leaving behind a trail of destruction. At around 3:15 a.m., the tornado, an EF-0 on the Enhanced Fujita scale with wind speeds of up to 85 mph, touched down at a neighborhood on the 9500 block of Glencannon Drive. It spanned approximately one mile in length and 80 yards in width, the National Weather Service confirmed. Lasting around two minutes, the twister knocked down trees and power lines and tore up sidewalks, fences and structures. Several water pipes were also ruptured, officials said. No injuries to people or animals were reported. The tornado arrived during a powerful storm that hit the Southern California region. Some toppled trees, many being large pines, landed atop parked vehicles, shattering windshields and damaging the roofs. Residents in the area recalled the moment they heard the brief but startling tornado touch down. 'I hear this loud bang and I walk over to the living room window,' one neighbor recalled. 'I open it and I see this tree sprawled out in my front yard.' 'Me and my wife, we thought it was an earthquake,' said Adrian Campos, a resident whose home surveillance cameras captured the tornado making its way down the street and setting off car alarms. NWS later dispatched a team of six meteorologists to survey the damage that spanned four blocks. 'We are still looking at the potential for showers and storms to be capable of producing strong gusty winds, small hail and even at times today, they couldn't rule out a couple of funnel clouds and maybe even another small, brief, weak tornado,' said Ariel Cohen, a NWS meteorologist. 'The main message is that folks need to be ready, to be prepared. Get in, get down and cover up.' KTLA meteorologist Henry DiCarlo spoke about what weather officials were looking for. 'They'll look at the damage and the path of the damage, and then they can determine whether it was just a downburst or if it was a tornado that had vortexing,' DiCarlo said. 'We don't get tornadoes too often but all 50 states can get tornadoes.' Although tornados remain uncommon in Los Angeles County, the last reported tornado was in March 2023 when an EF1 twister touched down in Montebello. It was the strongest weather event to impact the L.A. metro area in 40 years. 'We are grateful that there have been no reported injuries,' said Pico Rivera Mayor John R. Garcia. 'I want to commend our emergency responders and city personnel for their immediate action in keeping our community safe. Our top priority is ensuring all hazards are addressed and utilities are restored as quickly as possible.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
14-03-2025
- Climate
- Yahoo
Rare Tornado Carves Destructive Path Through Pico Rivera
A rare EF-0 tornado tore through a Pico Rivera neighborhood early Thursday morning, leaving a four-block trail of toppled trees, damaged power lines, and startled residents southeast of downtown National Weather Service confirmed the twister touched down around 3:15 a.m. in the El Rancho neighborhood, with winds reaching approximately 85 mph during its brief two-minute touchdown, according to NBCLA. NWS dispatched a survey team to the area to assess the damage pattern and officially classify the event."We'd been talking about the potential for tornados in this area for days in advance," said Ariel Cohen of the National Weather Service. "We had a line of intense showers that reformed over central and southern Los Angeles County. This activity exhibited some weak rotation with it."Morning light revealed the tornado's destructive path, including a massive tree that crashed near the intersection of Church and Underwood streets. Juan Valencia was jolted from sleep when the tree came down outside his family's home."I woke up to a big boom," Valencia said, describing how the tree fell directly onto their car, crushing the hood and shattering the damage assessment showed another tree ripped from the ground and leaning precariously against a house roof, while a third appeared split at its trunk. Despite the property damage, no injuries were reported in the tornado coincided with an overnight storm that brought steady rainfall and strong winds across L.A. County. The increased precipitation rates prompted evacuation warnings in several burn zones, including neighborhoods near the Palisades and Eaton fires due to potential slides and debris tornados remain unusual in California, they're not unprecedented. In February, NWS confirmed a weak tornado damaged a mobile home park in Oxnard, while a more significant tornado struck Montebello in March 2023. Perhaps most memorably, a powerful 1983 tornado with winds between 113 and 157 mph caused extensive damage in areas south of downtown L.A., including partially removing the roof of the L.A. Convention noted that certain areas of L.A. County are particularly susceptible to these weather events. "There is a local maximum of tornado frequencies across the L.A. basin, especially areas between Downey, Montebello, Compton, Carson areas, East Los Angeles," he explained. "That entire area has a very localized, meteorologically prime set of ingredients that can support the development of weak small tornados. We actually have seen them occur with actual frequencies that rival some portions of the Midwest."While Thursday's storm is expected to move eastward, forecasters predict continued showers and possible thunderstorms throughout the day across L.A. County. Get the latest news delivered to your inbox daily! Sign up for Los Angeles Magazine's The Daily Brief below or click here.
