Tag Archives: Business News

Alphabet’s decision to completely divest from Robinhood raises questions about the tech giant’s confidence in the long-term viability of the once-burgeoning fintech darling. In a recent development, Alphabet Inc (NASDAQ: GOOGL), the parent company of Google, announced the dissolution of its stake in the trading app operator, Robinhood Markets Inc (NASDAQ: HOOD). This decision follows Alphabet’s earlier reduction of its stake in the company by nearly 90%, leaving it with approximately...

In tandem with the IPO preparations, Bithumb has initiated efforts to improve its corporate structure. Bithumb, one of South Korea’s leading crypto exchanges, is reportedly gearing up for a groundbreaking Initial Public Offering (IPO) on the KOSDAQ, South Korea’s equivalent of the Nasdaq Composite (INDEXNASDAQ: .IXIC). Bithumb IPO: An Ambitious Move A recent report from local news outlet Edaily indicates that Bithumb is setting its sights on becoming the first digital asset company to go...

Saylor sees Bitcoin’s potential to soar even higher, especially once regulators approve financial firms’ Bitcoin spot ETF products. MicroStrategy Inc (NASDAQ: MSTR), the software firm led by Executive Chairman Michael Saylor, has seen its shares surge by an astounding 246% in 2023. Saylor attributes this success to Bitcoin (BTC), which has not only fueled MicroStrategy’s growth but also positioned the company to compete with tech giants like Apple Inc (NASDAQ: AAPL), Microsoft Corp...

Market analysts believe the new updates released by OpenAI significantly contributed to the rise of Microsoft (MSFT) shares.  Microsoft Corporation (NASDAQ: MSFT), a global technology powerhouse, witnessed a remarkable surge in its share price, achieving unprecedented heights for the first time since 2021. On November 7, the company’s shares ended the trading session at a record high of $360.53, representing an impressive daily increase of 1.12%. The surge propelled the company’s market...

A Circle spokesperson confirmed that a public listing is not exactly far from the firm’s aspirations. Circle, the issuer of the USD Coin (USDC) stablecoin, is reportedly in talks with its advisers over an initial public offering (IPO) for early 2024. According to Bloomberg, which cited sources with inside knowledge about Circle, the deliberations may or may not end up in a public listing. If it does go public, however, sources did not share what valuation Circle is expected to hit. But the...

Datadog has further given an optimistic outlook for the entire year of 2023 while forecasting Q4 revenue between $564 million and $568 million. On Tuesday, November 7, cloud monitoring software firm Datadog Inc (NASDAQ: DDOG) reported stronger-than-expected results for Q3 2023 following which its stock price shot up by 28%, thereby registering the highest-ever single-day gains. Datadog Performance in Q3 2023 The company reported Q3 2023 revenue of $547.5 million, marking a 25%...

WeWork has filed to begin bankruptcy proceedings to protect itself as it reorganizes debt in US and Canada only. Co-working space provider WeWork Inc (NYSE: WE) has filed for Chapter 11 bankruptcy in New Jersey federal court. The bankruptcy filing is expected to protect the company from action against landlords and creditors as the company tries to manage its heavy debt. WeWork is now worth less than $50 million, from a $47 billion valuation back in 2019. WeWork Bankruptcy In a...

Klarna has established itself as a major player in the European payments industry, with a valuation of $6.7 billion. Klarna, a renowned fintech startup based in Stockholm, Sweden, has embarked on a significant corporate restructuring by establishing a holding company in the United Kingdom, signifying its intentions for a potential Initial Public Offering (IPO). Klarna and the Corporate Restructuring: Is IPO Close? Klarna’s spokesperson confirmed to CNBC that the establishment of the...

Despite the potential negative impacts of AI, Musk also believes that AI would be a force for good and could even serve as a great friend and companion to users.  During a recent AI Safety Summit in London, Elon Musk had a one-on-one discussion with UK Prime Minister Rishi Sunak about the future of artificial intelligence and its impacts on society. The tech billionaire warned that AI might eventually lead to a world where jobs become a thing of the past. He also painted a picture where...

With this acquisition, Treehouse would be hoping to integrate Origins’ technology into its product portfolio. Treehouse, a Singapore-based Web 3.0 data firm, has announced its acquisition of non-fungible token (NFT) analytics platform Origins. According to the announcement, the deal is part of Treehouse’s efforts toward bolstering its NFT product offering. Treehouse to Tap Origins’ Tech Origins, originally, offers NFT-based data analysis using both on-chain and off-chain data. Its software...