Chinese eCommerce and social media startup Xiaohongshu, also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. The company is backed by Tencent and Alibaba, and it wants to raise somewhere between $400 million and $500 million....
Despite headline-grabbing startup debacles, U.S. investors are still hot to bankroll up-and-coming companies like challenger bank Chime, The Financial Times (FT) reported on Tuesday (Jan. 7). In nine months, the valuation for Silicon Valley’s Chime grew to four times its original size, with investors offering...
Online brokerage startup Robinhood has introduced a cash management service that will give customers 1.8 percent interest on any money they don’t have in stocks, Bloomberg reported on Wednesday (Dec. 11). This new service follows last year’s unsuccessful launch of a checking and savings account...
India-based OYO has filed a valuation report with India’s ministry of corporate affairs indicating that the company did not expect to turn a profit until 2022, Reuters reported on Monday (Nov. 25). The losses were six times higher in 2019 through March compared to 2018, but...
Tech startups fearing anticipated instability are scrambling to conserve an age-old commodity — cash — the New York Times (NYT) reported on Sunday (Nov. 17). Following quick growth and easy funding, startups are starting to jump off the fast lane and follow a more conservative...
In the second closure of a free-floating carshare in Seattle in two months, Lime has announced it is winding down LimePod. The startup will begin taking away the LimePod vehicles from the streets of the city in October and intends to shut down the service...
Emmanuel Macron, president of France, has announced that institutional investors are ready to loan $5.5 billion to assist tech startups over the next three years, the Financial Times reported Tuesday (Sept. 17). Axa, Natixis, Aviva and Allianz are among asset managers and insurers recruited to...
Digital parking company SpotHero has raised $50 million in a series D funding round led by Macquarie Capital, according to a release. The new amount raised brings SpotHero’s total fundraise so far to $118 million. Other participants in the round included Union Grove Venture Partners,...
FinTech startup Open is partnering with global payments tech leader Visa to offer better banking options for SMEs in India. The collaboration gives Open the power to co-create new products with Visa, like real-time payments and business credit cards for startups, the companies announced in...
