Google lays out investment plans for 2021 ; Where’s Philly?

Tom Paine

Source: Google Blog

Google posted on its blog Thursday its plans to invest across the US in 2021. Nothing on the scale of Amazon’s second city search, but Google says it will invest over $7 billion in offices and data centers, and add at least 10,000 new jobs in 2021.

There is nothing close to staggering about those numbers, since Google has 135.000 employees already and $85 billion in PP&E (Property, Plant & Equipment) on its balance sheet. Google plans to significantly expand its Pittsburgh presence. And it sounds like a major expansion is planned for the DC & Northern Virginal area. But one thing about Google’s plans is there is no mention of the Greater Philadelphia area.

i wasn’t able to retrieve the exact number of Google employees around Philly, but based on what I’ve seen my guess is its in the low hundreds (I don’t pay for premium access to LinkedIn).The major concentration seems to be around Google Cloud Platform (GCP). That may be partly due to GCP’s closeness to SAP in building its enterprise cloud business. Another area of emphasis for the Philly area is Life Sciences.

In terms of physical plant, there is nothing in the Philly area in Google’s listing of locations nationwide. Although that doesn’t necessarily mean Philly doesn’t have a Google office, as we found out once before.

Former SAP executive Rob Enslin is Google’s California-based President of Cloud Sales.. Phillip Moyer, a Philly-based onetime Safeguard Scientifics exec, moved in 2019 from Amazon to GCP, setting off a suit over an alleged non-compete violation from Amazon (since settled). His title is Vice President- Strategic Industries (encompassing Financial Services, Healthcare, Retail, CPG, Telco, Media & Entertainment, Gaming).

I’ve requested of Google’s press center any information it can provide on specific stats or plans it may have for Philadelphia. I’ll let you know if I get anything back

Qualtrics IPOs at $30 per share, upping price again

Tom Paine

Qualtrics is reported to be going public at a price of $30 per share, up from its previously announced range of $26 to $29 per share. It will raise the SAP spinoff’s initial value up to close to $15 billion. Qualtrics will start trading on Thursday on the Nasdaq under the symbol “XM”. SAP will retain a controlling stake.

At the least, this answers the criticism SAP ex-CEO Bill McDermott received for buying Qualtrics for $8 billion slightly more than two years ago. The IPO price is almost double the late-2018 acquisition price.

But questions remain about how this structure will motivate the Qualtrics management team to support SAP’s strategy, as opposed to pursuing separate goals.

Philly EnterpriseTech Highlights 6/13-6/15: SAP says Azure is preferred Cloud; Elliot Management going UpMarket, but are profits the same?

Morgan is out as SAP co-CEO

Tom Paine

Jennifer Morgan, the Newtown Square-based co-CEO of SAP, is leaving the giant business software company, the Wall Street Journal reported.

Christian Kiein, 39 years old and based in Germany, moves from co-CEO to sole CEO.

“More than ever, the current environment requires companies to take swift, determined action which is best supported by a very clear leadership structure. Therefore, the decision to transfer from Co-CEO to sole CEO model was taken earlier than planned to ensure strong, unambiguous steering in times of an unprecedented crisis,” the company said in a statement.

Ms. Morgan, 48, joined SAP in 20o4. She followed former SAP CEO Bill McDermott, now CEO of ServiceNow, to SAP, and was percieved as his protoge.

The true point of contention that led to this sudden decision is not yet known. Morgan became co-CEO along-side Klein in October of last year.

This article by Virginia Backaitis offers some possible explanations.

Philly EnterpriseTech Highlights 4/8 & 4/9: Hot COBOL market; Co-CEO: SAP Has 2x as Many Cloud ERP Customers as Oracle

First Round Capital an early investor

Tech Events Status Changes due to #CoronaVirus: SAP Cancels Sapphire Now And Partner Summit, Plans Digital Events

Updates added as received. (Tweet to @phillytechnews)

Updates added as received. (Tweet to @phillytechnews)

American Academy of Allergy, Asthma & Immunology (AAAAI), Philadelphia, 3/13/20 – 3/16/20: Monitoring developments but no plans to cancel or postpone at this time.

Philly EnterpriseTech Highlights 2/19 to 2/21: Another SAP reorg; Comcast said to seek Vudu

Philly EnterpriseTech Highlights 2/1/20- 2/2/20

Philly EnterpriseTech Highlights 1/27-1/28: Report-Wawa card breach may rank as one of the biggest