At a major presentation near Detroit yesterday, GM revealed its gameplan to beat Tesla. The general idea? EVs for everyone.
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Waymo said it has raised $2.25 billion in new funding — adding its first non-Alphabet investors — and said it will likely bring in other first-round investors as its self-driving technology moves closer to commercialization.
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A record number of female-founded startups raised venture capital in 2019, representing more than a 500% increase from 2010, based on new data from PitchBook and All Raise. Median valuations also hit all-time highs.
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This week short-form video streamer Quibi said it has closed a second round of financing worth $750 million, bringing its total investment to $1.75 billion about a month before the service’s planned launch.
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E-commerce sales surpassed 10% of total retail sales in 2019 for the first time ever. The US retail industry was estimated to have recorded almost $1.5 trillion in sales in Q4 2019, with e-commerce contributing over $187 billion, according to the US Census Bureau.
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Shark Tank judge Barbara Corcoran lost nearly $400,000 in an elaborate email scam that tricked her staff.
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There were more than a few major executive departures this week.
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Intuit closed a deal to buy Credit Karma for a price tag of $7.1 billion on Monday, according to published reports. The bookkeeping software titan will now add the personal credit score website to its roster among other names like Quickbooks, TurboTax and more. The company is now worth more than $74 billion.
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Toast, Boston-based maker of payment processing hardware and software for restaurants, has raised $400 million in Series F funding at a post-money valuation of $4.9 billion led by Bessemer Venture Partners.
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Hold onto your Airpods, here comes three stats that will blow your mind:
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To quote Term Sheet’s Polina Marinova, “Blue Apron is trying just about everything to raise cash.”
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Private equity firm Sycamore Partners will pay $525 million for a 55% stake in L Brands’s Victoria’s Secret. Sycamore is known for brass-knuckle tactics that get results in a moribund U.S. retail market.
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Verizon outage sweeps US
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Despite how hard it is to book a reservation, the holiday actually does relatively little for the restaurant biz according to Morning Brew.
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As of January, Tesla was the most shorted stock in the US. Basically, that means it had more people betting against it than any other business.
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Meditation company Headspace announced this week it raised $93 million in a Series C funding round.
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New music drops every Friday, but last week's Friday featured a new artist - Elon Musk.
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A group of 30 companies have spent at least $16 billion on developing fully self-driving cars over the past few years—and so far they have little, if any, revenue to show for it. But billions more will likely be needed before the technology is ready for primetime.
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Disney reported fiscal Q1 earnings this week, its first since launching the Disney+ streaming service in November. First, the high-level financials…
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Disclosing YouTube revenue separately for the first time, Alphabet said Monday that the Google-owned video site accounted for more than 10% of the company’s $46.1 billion in revenue last quarter, and more than $15 billion for the year.
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