Afternoon Coffee: Coupa's Q2 Earnings, Shell’s $5B Fine, Russia's "Made in USA" Olympic Uniforms

Coupa keeps growing.
Coupa`s Growth Velocity Continues in Q2 With 14th Sequential Quarter of Record Growth -- Coupa Software, the leader in cloud spend optimization software, today announced Q2 2012 results, highlighted by a 185 percent increase in the amount of spend through its platform, compared to Q2 2011. Further illustrating the momentum, Coupa posted its 14th sequential quarter of growth in new annual contract value. To fund growth, Coupa completed a $22 million Series E round of funding in May, led by new investor Crosslink Capital. Venture capital firms Battery Ventures, BlueRun Ventures, El Dorado Ventures and Mohr Davidow Ventures continued their commitment to Coupa by also participating in the round.

One expensive oil leak.
Shell Faces $5 Billion Nigeria Fine -- Royal Dutch Shell PLC could face a record $5 billion fine from authorities in Nigeria for an oil spill off the coast of the West African country last year, an amount that dwarfs similar fines in the U.S. and Brazil. Shell pushed back hard against the penalty, proposed by federal authorities seven months after some 40,000 barrels of oil leaked at Shell's Bonga offshore facility. "We do not believe there is any basis in law for such a fine," said a Shell spokesman. "Neither do we believe that Shell Nigeria Exploration and Production Company has committed any infraction of Nigerian law to warrant such a fine."

Looming Obamacare = doctor shortage?
As Obamacare Looms, New Medical Schools Open To Address Doctor Shortage -- The nation's universities are opening more medical schools as graduate medical education transforms to address the nation's physician shortage. The Association of American Medical Colleges (AAMC), which represents medical schools and teaching hospitals, said there are now 18 medical schools under development, which is the "largest number" of schools in various stages of development in decades. A dozen of them have preliminary accreditation or provisional accreditation, the association said.

What a mess.
Russian Olympians Will Wear Uniforms Made By American Brand -- American Olympians will wear Chinese made Uniforms in 2012. Russian Olympians will wear American made Uniforms in 2014. The recent announcement that the Russian team will march into the 2014 Winter Olympics stadium in Sochi, Russia wearing uniforms made in the United States is a stark contrast to the flap caused by Ralph Lauren last week when it was discovered that the United States team will march into the 2012 Summer Olympics stadium in London, England wearing uniforms made in China. The Russian uniforms will be made in Los Angeles, California, by American Apparel in their 800,000 square foot manufacturing facility.

- Sheena Moore

First Voice

  1. Thomas Kase:

    Some important pieces of information are missing – the Nigerian government actually owns 55% of Shell Nigeria – secondly, a fair amount of sabotage activities by rebels in the area, perhaps behind more than 70% of all discharges.

    About the potential Nigerian fines – since each barrel holds 42 gallons, that comes out to a cool $3K per spilled gallon! It’s not even that expensive in California – yet.

    Something to cry over – or close down operations – perhaps this is what Nigeria wants – a way to nationalize assets in a "legal" fashion?

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