August 13, 2023
Investors Take Legal Action Against Amazon Over Anticompetitive Behavior
In a massive legal blow to Amazon, investors have filed a shareholder derivative lawsuit against the company’s board, CEO Jeff Bezos, and other senior executives for their lack of oversight...
August 11, 2023
FinTech IPO Index Plunges 6.6% as Upstart and Nuvei Earnings...
Seemingly everywhere you looked this past week, earnings were the sole arbiter of how stocks performed. And no matter the earnings, almost across the board, the performance was decidedly to...
August 10, 2023
Lulu Group Raising $2.72 Billion to Reposition Business for IPO
Abu Dhabi-based LuLu Group International, which owns one of the largest hypermarket chains in the Middle East, is reportedly raising 10 billion dirhams (about $2.72 billion) to refinance debt ahead of...
August 09, 2023
Upstart Stock Plunges 34% After Lower-Than-Expected Guidance
Artificial intelligence (AI) lending platform Upstart saw its stock plummet 34% Wednesday (Aug. 9). This follows the company’s delivery of an outlook for the third quarter that was lower than expected,...
August 09, 2023
European Union Extends Decision Deadline for Adobe-Figma Merger
In a recent development, EU antitrust regulators have announced an extension of the decision deadline for Adobe’s proposed acquisition of the cloud-based designer platform Figma. According to Reuters, the initial deadline...
August 09, 2023
Report: Amazon and Google Could Invest in Chipmaker Arm’s IPO
Amazon is reportedly in discussions to invest in chipmaker Arm’s initial public offering (IPO). Arm owner SoftBank is also talking to Google and companies from other industries heavily dependent on semiconductors in anticipation of a Nasdaq listing for...
August 09, 2023
ThredUP Taps Resale-as-a-Service for Path to Profitability
Is resale profitable for brands? While that question has yet to be answered, deploying the technology and functionality to create the resale-as-a-service (RaaS) apparently is. At least that’s what it’s...
August 08, 2023
Oscar Health Targets Rural Areas to Fuel Growth Beyond Q2
Health technology company and insurance platform Oscar Health announced “strong” second quarter 2023 earnings on Tuesday (Aug. 8), telling investors that its growth strategy for 2024 will focus on leveraging its provider...
August 08, 2023
Allbirds Q2 Revenue Takes Hit Amid Currency Exchange Headwinds
Direct-to-consumer (D2C) clothing and footwear retailer Allbirds on Tuesday (Aug. 8) posted “better-than-expected” second quarter earnings, amid decreases in average selling prices, currency exchange headwinds and an overall challenging macroeconomic environment....