Bird has filed for Chapter 11 bankruptcy, capping off a turbulent year for the electric scooter company. In a press release today, Bird confirmed that it had entered into a “financial restructuring process aimed at strengthening its balance sheet,” with the company continuing to operate as normal in pursuit of “long-term, sustainable growth.” Founded in…
ShareChat is in final stages of deliberations to secure about $50 million in new funding that trims the startup’s valuation to below $1.5 billion, according to two sources familiar with the matter. Existing backers including Temasek and Tencent are among the investors in advanced stages of talks to invest in the new round, the sources…
Micromobility.com, formerly Helbiz, was delisted from the Nasdaq on Monday as a result of the company’s noncompliance with the stock exchange’s listing rules, according to a regulatory filing. Competitor Bird — the only other shared micromobility company to brave the public markets — was also delisted from the stock exchange in September. The company’s common stock…
Despite the ongoing regulatory crackdown on the crypto industry and the collapse of some of its poster children, the underlying decentralized technology continues to drive internet incumbents into the web3 space. Telegram and Line, two of the world’s most popular messengers with hundreds of millions of monthly users, have both been integrating crypto features in…
Poor grocery demand forecasting is responsible for more waste than you might expect. According to one source, grocery stores in the U.S. toss 10% of the roughly 44 billion pounds of food that the country produces annually. It’s not only bad for the environment — food waste is a major source of carbon emissions —…
Black founders in the UK are also seeing the impact of venture’s winter year. Black founders in the United Kingdom raised only 0.95% of all venture investment allocated in the country so far this year (or just $165 million out of around $17.3 billion), according to a new report by Extend Ventures. That would put…
Alteryx, an Irvine, California-based software company developing data science and analytics products, today announced that it’s agreed to be acquired by private equity firms Clearlake Capital Group and Insight Partners in a deal worth $4.4 billion. Clearlake and Insight reportedly beat out Symphony Technology Group, another private equity firm, which Reuters reported several days ago…
OpenAI is expanding its internal safety processes to fend off the threat of harmful AI. A new “safety advisory group” will sit above the technical teams and make recommendations to leadership, and the board has been granted veto power — of course, whether it will actually use it is another question entirely. Normally the ins…
ServiceNow announced this morning that it was acquiring Czech Republic task mining company UltimateSuite, giving the company a new way to capture and understand how work flows through a business. The companies did not reveal the price, but it was a 3-year old startup that had raised €768,000 (approximately $839,000), so likely not a huge…
Tamara, a buy now pay later platform for consumers in Saudi Arabia and the wider GCC region, has raised $340 million in a financing C round that values the fintech at $1 billion. Saudi asset manager and financial institution SNB Capital and Sanabil Investments, a wholly-owned company by Saudi’s sovereign wealth fund Public Investment Fund…
