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A News Digest on Healthcare, Insurance, and Data-Warehousing

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US cloud-based data-warehousing company reported Q4 FY 2021 revenue of $190.5M, up 117% YoY, vs. $178.5M expected, and a net loss of about $199M, up from $83M in Q4 FY 2020 Concerning guidance, Snowflake said it expects $195 million to $200 million in product revenue in the fiscal first quarter, which would be up 92% to 96% year over year. Analysts polled by FactSet were looking for $196.3 million in product revenue. Almost 94% of Snowflake’s revenue came from product revenue in the fiscal fourth quarter. For the full 2022 fiscal year, the company sees $1.00 billion to $1.02 billion in product revenue, representing 81% to 84% growth, a decline from 116% product revenue growth in the fiscal fourth quarter. Analysts polled by FactSet had expected $1.01 billion in product revenue.
Best Buy Health
Best Buy Health will offer its emergency and non-emergency assistance services, including fall detection, to seniors on the Apple Watch via the Lively app — Best Buy has stepped further into the health and technology market with a new partnership with Apple.
Oscar Health
Shares of Oscar Health fell more than 7% in their stock market debut on Wednesday, fetching a valuation of just over $7 billion for the health insurance startup backed by Google parent Alphabet Inc. The company was worth $3.2 billion in a private fundraising round in 2018, according to PitchBook. Alphabet took a nearly 10% stake in Oscar Health for $375 million that year. Oscar Health was founded in 2012 by Mario Schlosser, Kevin Nazemi, who is no longer a part of the company, and Josh Kushner, brother of former U.S. President Donald Trump’s adviser and son-in-law, Jared Kushner. The company’s other investors include venture capital firm General Catalyst Group, Fidelity Investments parent FMR LLC, Peter Thiel’s Founders Fund, investment firm Thrive Capital and Khosla Ventures. Goldman Sachs & Co LLC, Morgan Stanley, Allen & Company LLC, and Wells Fargo Securities are among the lead underwriters for the offering.
Brave acquires Tailcat, an open-source search engine made by the team behind the Cliqz anti-tracking browser, and shares plan to launch Brave Search — Brave, the privacy-focused browser co-founded by ex-Mozilla CEO Brendan Eich, is getting ready to launch an own-brand search engine for desktop and mobile.
Microsoft Garage
A new project from Microsoft’s in-house incubator, Microsoft Garage, introduces a different take on meeting transcriptions. Microsoft’s new Group Transcribe app reimagines meeting transcriptions as a more collaborative process, where everyone simultaneously records the meeting on their own device for higher accuracy. It also offers real-time translation for languages spoken in more than 80 distinct locales.
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