Fidji Simo, CEO of Instacart Inc., speaks during an interview in San Francisco, March 3, 2022. David Paul Morris | Bloomberg | Getty Images Grocery delivery platform, Instacart, is aiming for a valuation of up to $10 billion as it raises its initial price range to between $28 and $30 per share, according to a …
Arm’s highly anticipated debut on the Nasdaq exchange is a major win for SoftBank, which recently spun off the company it acquired in 2016. However, Wall Street is scratching its head over the valuation. The UK-based chip design company saw its stock surge 25% to $63.59 after its initial public offering (IPO), pushing its fully …
Tony Xu, co-founder and CEO of DoorDash Inc., smiled during the Wall Street Journal Tech Live conference in Laguna Beach, California, on October 22, 2019. Martina Albertazzi | Bloomberg | Getty Images DoorDash announced on Thursday that it will move its listing from the New York Stock Exchange to the Nasdaq, dealing a potential blow …
The co-founder of Ethereum, Joseph Lubin, expressed optimism amidst the ongoing disputes between the U.S. Securities and Exchange Commission (SEC) and crypto firms over the classification of crypto tokens as securities. Lubin stated that “clear heads will prevail” in this matter, drawing parallels to previous technologies like the internet, web, and cryptography. He believes that …
Tech industry titans, including Elon Musk and Palantir co-founder and CEO Alex Karp, gathered at the U.S. Capitol for a bipartisan Artificial Intelligence (AI) Insight Forum hosted by Senate Majority Leader Chuck Schumer. The purpose of the meeting was to discuss AI regulation and establish guidelines for the powerful technology. Musk described the meeting as …
The Park MGM hotel and casino in Las Vegas, July 28, 2023. Bridget Bennett | Bloomberg | Getty Images MGM Resorts has filed a report with the U.S. Securities and Exchange Commission (SEC) detailing the ongoing “cybersecurity issue” that forced the company to shut down several critical systems. The problem persists three days after its …
Swan co-founder and CEO Nicolas Benady. Swan European venture capital giant Lakestar, an early supporter of fintech unicorn Revolut, has emerged as a prominent backer of French fintech startup Swan. Swan raised the funds in a series B investment led by European venture capital giant Lakestar. The latest fundraise takes Swan’s total money raised to …
A Citic Press book stand advertises for the release of the Chinese version of Walter Isaacson’s new Elon Musk biography. CNBC | Evelyn Cheng BEIJING — Walter Isaacson’s new biography of Elon Musk hit the Chinese market Tuesday, several hours ahead of the U.S. release due to a time difference that puts Beijing 12 hours …
Monzo, the $4.5 billion digital challenger bank, has announced the launch of a new investment feature, marking its entry into the financial investment market. The feature, called Investments, will enable Monzo’s customers to invest in various funds managed by asset management giant BlackRock. CNBC had the opportunity to preview the product at Monzo’s headquarters last …
Luckin Coffee, the Chinese coffee giant, has achieved a significant milestone by reaching 10,000 stores in China in June. This accomplishment has catapulted Luckin Coffee ahead of Starbucks as the largest coffee chain brand in the country. Luckin Coffee emerged in 2017 as a key competitor to Starbucks, offering affordable coffee options and convenient mobile …