SAP: Wookey to lead Intelligent Spend and Business Network
John Wookey will rejoin SAP as the new President of Intelligent Spend and Business Network, the company has announced.
Wookey is tasked with ensuring that SAP continues to be a leader in the Intelligent Spend Management and Business Network markets while also leveraging the broader SAP portfolio to allow customers to benefit from a suite of integrated solutions.
Previously at SAP from 2008 to 2011, Wookey was responsible for the development and support of line-of-business cloud applications. Wookey recently held the position of executive vice president of the industry applications and platform technology teams at Salesforce. Prior to that, he also held senior leadership roles at Oracle.
“John is a recognized development expert with a proven track record of leading ERP, CRM and industry-specific application and platform technology teams,” said Thomas Saueressig, member of the Executive Board of SAP for SAP Product Engineering.
“Integration is top priority for our customers. John’s experience guiding companies through all development phases, including business needs analysis, design, development and deployment, will help us deliver on this promise to companies that rely on SAP to run their businesses. I look forward to welcoming John back to SAP and working with him to help our customers become intelligent enterprises.”
Wookey has an MS in engineering sciences from the University of California, Berkeley. He will report to Saueressig and be based in Silicon Valley.
Having previously led Intelligent Spend Management, Michael Weingartner will succeed Gunther Rothermel as President, SAP Cloud Platform, with Rothermel becoming head of SAP S/4HANA Sustainability.
Start-ups receive $60 billion investment, smash 2020 record
Start-ups on the continent have raised a massive 43.8 billion euros ($60.9 billion) in just the first six months of 2021, according to figures from Dealroom, surpassing the record 38.5 billion euros invested last year..
This is despite the fact that the number of venture deals signed so far is around half the amount agreed in 2020. Only about 2,700 funding rounds have been raised so far this year, compared to 5,200 last year.
Prime examples in times of change
Examples are Swedish buy-now-pay-later firm Klarna which has raised more than $1.6 billion in two financing rounds, the German stock trading app Trade Republic received $900 million in May and British payments provider Checkout.com snapped up $450 million at the start of the year.
The figures suggest that European tech firms are pulling in far larger sums of money per investment than in previous years, which defies the economic uncertainty of the pandemic and boosted online services enormously.
The CEO of Checkout.com, Guillaume Pousaz, said start-ups have often been created in times of crisis, citing the emergence of several new financial technology companies in the wake of the 2008 global financial crisis.
He added that big transformational change was often the time when there is the emergence of a lot of new start-ups, sometimes when people are losing their jobs for associated reasons.
UK leading the charge
Scale-Up Europe, a group that includes the founders of UiPath and Wise, proposed 21 recommendations to help the region build “the next generation of tech giants.” Among the suggestions are tax credits to corporates for investing in start-ups and regulatory changes that adapt to new innovations.
Sebastian Siemiatkowski, CEO of Klarna, said the U.K. leads Europe when it comes to tech policy, and that there were a number of regulatory issues needing to be addressed before the European Union can produce tech giants of its own.
Siemiatkowski highlighted EU regulation of web cookies as an example of “poor regulation.” Yet, as the number of $1 billion start-ups in Europe continues to grow, the number of exits in the continent is also increasing.
This year has already seen some notable acquisitions, including Etsy’s $1.6 billion purchase of U.K. fashion resale app Depop and JPMorgan’s takeover of London robo-advisor Nutmeg.
As for stock market listings, a number of notable debuts have taken place in London in particular, including food delivery app Deliveroo, cybersecurity firm Darktrace and reviews site Trustpilot. Money transfer giant Wise, formerly known as TransferWise, plans to go public in the U.K. capital soon.