Tag Archives: Business News

Aston Martin is in last-minute talks with the Canadian billionaire Lawrence Stroll. Reports indicate that the owner of the Racing Point Formula One team and the luxury carmaker are in talks. This is an effort by the carmaker to shore up finances. The company had a less than exciting performance last year. Lawrence Stroll and Aston Martin are said to be in talks to raise £200 million (about $260 million) in a fresh round of financing.Aston Martin Lagonda Global Holdings Plc. Limited is also in...

Recently, the new fintech terms came to town. We are already used to certain terms such as FAANG, FANG and even FAAMNG. When it comes to stocks, and especially technology-related ones, the times are certainly “a-changing”.2020 began already as a pretty turbulent one. With great geopolitical tensions, an unsure trade deal between the U.S. and China, Donald Trump’s impeachment (moreover, Meghan and Harry are leaving the Crown) – it seems that there is going to be a pretty tough year for big...

New York-based leading business analytics platform Sisense has touched $1 billion valuation after its recent $100 million funding round. Insight Venture Partners led this funding round along with other investors Bessemer Venture Partners, Battery Ventures, DFJ Growth, and others.In the last three years, the company’s valuations have surged 200% as it now serves over 2000 customers. Some of the big names in Sisense’s client list include Nasdaq, Philips, Salvation Army, and Tinder. Amir Orad,...

Social platform Little Red Book is seeking a $6 billion valuation. The platform is reportedly in talks with investors to raise between $400 million and $500 million. It’s also worth mentioning that it has the backing of internet giants Alibaba and Tencent holdings.Xiaohongshu which means “little red book” has tried to release its app before now. The startup though has indicated that the app will be available for download to about 300 million users in app stores from July this year. It is also...

Recently, there appeared reports stating that American food delivery giant Grubhub is in talks with Walmart, Kroger, Albertsons, and Ahold-Delhaize. Some have rumored that the companies may acquire the leading food ordering and delivery company. The discussions around the news became even hotter after the comments of Brittain Ladd, ex-Amazon executive, and supply-chain consultant.Ladd said:“I have spoken with executives from each company (especially Walmart) and there is interest in acquiring...

The largest electronic commerce company in South Korea Coupang Corp. is launching IPO (Initial Public Offering) in 2021. The company has declined to provide any comments on the news, but those familiar with the matter state that the information is accurate.It is notable that some consider Coupang as an unprofitable company. However, it attracts investors and expands its services. It is also seen as a strong rival by South Korea’s biggest food delivery app Woowa Brothers Corp. that sold an 87%...

Airbnb, DoorDash, and GitLab are among 18 unicorn companies that are set to run an initial public offering (IPO) sometime in 2020. The expectation for a more definite announcement at some point this year, already means that there is more than enough to anticipate in the financial clime. While there will most likely still be more public announcements, these 18 are already making the rounds.The market for initial public offerings in 2019 was a little disappointing, to say the least. Compared to...

Tesla can definitely say that it began this year with a record being the highest U.S. automaker in history. The company’s recent stock rally pushed its market value to approximately $85 billion. Just on Tuesday’s close, it surpassed the $80.8 billion, the record previously set by Ford back in 1999.However, just for comparison, Ford had a market value of only $37 billion at the end of trading on the same day.Tesla’s shares continued to climb and traded up more than 4% on Wednesday and at the...

Tencent Holdings Ltd. and China UnionPay Co. announced they plan to bring together their mobile codes that users scan to pay for purchases. In that way, the Chinese central bank gets a much larger niche network inside the $27 trillion payments playground.Both companies decided to consolidate their QR code systems so their users will be able to transfer or spend their assets just by using the same smartphone symbols.However, from the companies, they didn’t want to elaborate. The Tencent...

The Japanese financial giant SBI Holdings Inc. and internet corporation GMO Internet Group will mine the number one crypto. To mine Bitcoin, SBI and GMO will rent capacity of the world’s leading mining farm based in Rockdale, Texas. As Bloomberg has reported, the companies have agreed with Whinstone Inc., a subsidiary of Frankfurt-based Northern Bitcoin AG. Neither SBI nor GMO has commented on the announcement yet, but those familiar with the matter said that mining begins ‘within the coming...