When Ju Rhyuâs Hero Cosmetics, a brand known for its Mighty Patch acne treatments that got its start selling on Amazon, was closing in on $100 million in revenue in mid-2021, she and her co-founders began to think about selling the five-year-old brand to a bigger company. Rhyu and the companyâs board began interviewing bankers that summer, and Vennette Ho and her team at Financo Raymond James quickly emerged as... Read more âș
1
When lingerie manufacturer Ariela & Associates International announced its purchase of buzzy direct-to-consumer intimates startup Parade in August, the deal appeared to be yet another example of larger holding companies and licensing firms buying up popular digitally native brands. Parade, valued by investors last year at about $200 million, wound up with a last-ditch sale, in a process similar to a bankruptcy liquidation. The process wiped out essentially all its... Read more âș
0
Maybe, just maybe, startup employees who held onto their jobs amid spurts of mass layoffs over the last year and a half can exhale. They have survived. The number of monthly job cuts at tech companiesâjust over 4,600âhit an 18-month low in September, according to Layoffs.fyi, the venerable tracker of employee career pain. The recent sprinkling of venture-backed IPOs helped lift the mood, too.But now isnât the time for employees... Read more âș
11
Logistics startup Flexport plans to lay off up to 30% of its workforce, according to a person close to the company. That would represent about 1,000 people based on a headcount of around 3,300 people. The cuts are the latest and most drastic in a series of cost-cutting moves founder Ryan Petersen has made at the decade-old company since he returned as CEO in September. Account management, customer service and... Read more âș
20
Investment firm Andreessen Horowitz recently signaled to another firm that it was discussing leading a new equity financing for Ideogram, a startup that uses artificial intelligence to create unique images, said a person with knowledge of the situation. The Toronto startup, which has been seeking a $500 million pre-money valuation, doesnât generate revenue. Four former Google AI researchers last year founded the company, and in August this year they launched... Read more âș
0
Meta Platformsâ decision to create artificial intelligence characters based on the likeness of some of the most famous people on the planet is paying off handsomelyâfor the stars themselves. Last week, the parent of Facebook and Instagram said it was paying stars including Snoop Dogg, Tom Brady, MrBeast and Charli DâAmelio for allowing Meta to use their likenesses for fictional AI characters. For several top creators, the payments can amount... Read more âș
49
The trial of Sam Bankman-Fried is officially underway and the spotlight is back on the bankrupt crypto exchange he founded. Recall that FTX launched a $2 billion venture fund early last year and bought stakes in some of the top crypto companies. When FTX imploded late last year, its decision to play venture capitalist seemed like an embarrassment. But maybe those investments, which extended beyond the struggling crypto industry, will... Read more âș
56
A startup seeking to bring robotaxis to dedicated roads surrounding airports and transit hubs is inching closer to realizing its vision. The startup, Glydways, has raised a $56 million Series B fundraising round, including about half of it from convertible debt that the notes holders are converting to equity. New Science Ventures led the round, while other investors include the ACS Group, a global construction company based in Spain; Gates... Read more âș
0
As large-language model developers such as OpenAI, Meta Platforms and Google battle for global supremacy, European LLM providers are trying to carve off that region for themselves. Thatâs a bad idea.Letâs back up. A number of European Union members have poured resources into promising AI startups. In last Wednesdayâs release of Mistral 7B, an open-source LLM developed by Paris-based Mistral AI, the startup thanked the operators of Leonardo, a supercomputer... Read more âș
17
As cloud providers struggle to cope with fast-growing demand for artificial intelligence computing, they may turn to a source of power that has gone largely untapped by the cloud industry: nuclear. What might be the first data center site with direct access to a nuclear power plant, located outside Berwick, Pa., is now on the auction block. The sale has drawn attention from cloud providers that are running out of... Read more âș
0
Silicon battery developer Enovix this week laid off 185 engineers and other staff at its Fremont, Calif., factory as it shifted the bulk of its operations to Asia, close to the smartphone manufacturers that it hopes will buy its cells.The moves, announced Tuesday, reflect a reality in the rapidly growing lithium-ion battery industry, which is thatâgiven the weight and bulk of battery cellsâbattery and battery component manufacturers are likely to... Read more âș
17
What a time to be a tech business reporter! Even as Sam Bankman-Friedâs fraud trial gets underway, our scoop yesterday about AI startup Anthropicâs rising valuation suggests that the disgraced FTX founder may have scored at least one home run with his Anthropic investment. Yes, thatâs right: The fast-evolving story about AI startups has converged with the SBF drama. The big question is how much money FTXâs creditors can make... Read more âș
0
Last week, I was scrolling on LinkedIn when I noticed a new AI-powered assistant the professional social network is testing. The bot reviewed the part of my profile where I list my title and the âaboutâ section, and drafted personalized suggestions âusing insights from millions of profiles,â for me to review. It was the first time I had used this feature, which the Microsoft-owned social network had teased in March.... Read more âș
0
General Motorsâ chief technology officer, Gil Golan, is leaving the job after one month, according to an internal company memo distributed today, parts of which were seen by The Electric. Golanâs departure, effective Nov. 1, comes one week after a profile in The Electric in which he described a plan to aggressively expand the companyâs work in batteries, create a âdream teamâ of battery scientists, and manufacture batteries from the... Read more âș
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Sam Bankman-Friedâs criminal trial kicked off in a Manhattan courtroom on Tuesday with jury selection, followed by opening statements from both the prosecution and the defense earlier today. I went down to check out the action in person on Wednesday, where we got the first in depth look at how Bankman-Fried and his lawyers will defend the case.   Marc Cohen, one of Bankman-Friedâs lawyers, repeatedly used the phrase âgood faithâ... Read more âș
0
To turn around X, the company formerly known as Twitter, Elon Musk and CEO Linda Yaccarino are betting on shopping and sports. As Musk and Yaccarino try and turn the company around, there are growing signs they want to make X a shopping destination. For instance, X managers are considering ways of using direct messages on the platform to offer one-click checkout to X users, according to three people familiar... Read more âș
2
How much should a well-regarded artificial intelligence startup be worth on paper?Thatâs the question facing scores of sovereign wealth funds, mutual fund firms and other private equity investors looking at two marquee AI opportunities: OpenAI and Anthropic. OpenAI is in the middle of its second employee share sale in the last six months, and if it succeeds, the new share price could imply an enterprise valuation of at least $80... Read more âș
3
Ryan Petersenâs clearout of Flexportâs top management is continuing. The companyâs top engineering executive and longtime chief legal officer both departed the company this week, according to an internal memo reviewed by The Information. The logistics startupâs Asia sales head has also left the company, the memo said. The three exits follow an exodus of other senior executives since Petersen, Flexportâs founder, returned to the CEO role last month, ousting... Read more âș
0
The end of an era of historically low interest rates has been a boon for big banks, which can now earn more from the loans they make. But for financial tech startups that sought to challenge traditional lenders, steeper borrowing costs have provoked a reckoning, forcing some to hike fees and cut off their riskiest customers. Upstart, which focuses on personal and auto loans, reined in lending this year in... Read more âș
0
About a month ago, I finally reached my breaking point with YouTube TV, the streaming service I had subscribed to years earlier as a replacement for cable TV. I didnât think twice about paying $40 a month for it in 2018, but after years of price increasesâYouTube TV now costs $73 a monthâI realized my family wasnât watching it nearly enough to justify the money. So I ditched it. More... Read more âș
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01.04.2026 19:17
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