Craig Newmark, the founder of Craigslist, made his fortune off a website that was founded in 1995 and hasn’t been updated in years. Despite its outdated appearance, Craigslist still offers apartment listings, a jobs board, and items for sale. However, other companies like Airbnb, LinkedIn, and Facebook Marketplace have surpassed Craigslist in value. Although Newmark’s …
Instacart announced its updated filing for the highly anticipated initial public offering (IPO) on Monday. The company aims to raise up to $616 million, differentiating between fresh capital and existing shareholders, with a valuation reaching $9.3 billion. In the IPO, Instacart plans to offer shares at a price range of $26 to $28. This offering …
You can watch David Faber’s interview with Arm CEO Rene Haas and SoftBank CEO Masayoshi Son on CNBC Pro. In an interview with CNBC, Arm Holdings CEO Rene Haas stated that despite the geopolitical challenges in the past few years, Arm’s China subsidiary is performing well and has great potential in data center and automotive …
David Solomon, Goldman Sachs interview with David Faber, September 7, 2023. CNBC The return of large tech IPOs this week after a prolonged drought isn’t just a test of investors’ appetite for risky new offerings — it’s a key moment for Wall Street’s top advisor, Goldman Sachs. Chip designer Arm is expected to begin trading …
Arm CEO Rene Haas and executives cheer as Softbank’s Arm, a chip design firm, holds an initial public offering at the Nasdaq MarketSite in New York, Sept. 14, 2023. Brendan Mcdermid | Reuters Arm Holdings, the chip design company controlled by SoftBank, surged by approximately 25% on its first day of trading, following its initial …
MALIBU, California – Discovering the remarkable ease of driving the $2.1 million Rimac Nevera is the most astonishing aspect of this experience. The Nevera, an electric hypercar from Croatia, sits remarkably low to the ground. It might seem daunting to enter, but the doors, which lift up and out like a Lamborghini’s, cleverly cut into …
Just days before MGM’s computer systems experienced a cyberattack, Caesars, another casino operator, paid $15 million in ransom to a cybercrime group that infiltrated and disrupted their systems, according to sources familiar with the matter disclosed to CNBC. CNBC’s Contessa Brewer also reported that the same cybercrime group has demanded a ransom from MGM as …
Sequoia Capital and Andreessen Horowitz, two prominent venture firms in Silicon Valley, are facing significant losses on their recent investment in Instacart, a grocery delivery company. The deal closed in 2021 when tech stocks were thriving. In Instacart’s updated IPO prospectus, filed on Friday, the company announced its plan to sell shares at $28 to …
Tesla CEO Elon Musk arrives for a U.S. Senate bipartisan Artificial Intelligence Insight Forum at the U.S. Capitol in Washington, D.C., Sept. 13, 2023. Andrew Caballero-Reynolds | AFP | Getty Images WASHINGTON — Three Democratic members of the Senate Committee on Armed Services have requested information from the Pentagon about SpaceX CEO Elon Musk. They want …
Oracle Co-founder Larry Ellison, left, and Microsoft Co-founder Bill Gates watch a match between Gael Monfils of France and Alexander Zverev of Germany during the BNP Paribas Open in Indian Wells, Calif., on Oct. 13, 2021. Sean M. Haffey | Getty Images Larry Ellison, the co-founder, chairman and chief technology officer of Oracle, has been …