Crowdfunding is to financing what Uber is to taxis or what Airbnb is to hotels: Using the wisdom and resources of the crowd to raise money. Usually, crowdfunding brings many smaller investors or donors together to fund a business, startup or personal initiative. The concept is based on the collective effort of a large number…
Adam Neumann, who co-founded flexible workspace provider WeWork in 2010 and notoriously stepped down nine years later, is attempting to buy the company out of bankruptcy, according to multiple reports. In a letter published by The New York Times today, lawyers for Adam Neumann, his latest startup Flow Global Holdings LLC and “their affiliates” wrote…
Beena Ammanath Contributor Beena Ammanath is a global and U.S. Technology Trust Ethics Leader at Deloitte AI Institute. AI is on the minds of nearly every enterprise and startup leader today, challenging human decision-makers with a constant stream of “what if” scenarios for how we will work and live in the future. Generative AI, especially,…
Nigerian online teaching platform Klas has raised $1 million in pre-seed funding led by Ingressive Capital, with participation from Techstars, HoaQ Capital, and several angel investors. Founded in 2022 by Nathan Nwachuku and Lekan Adejumo, Klas enables users to create and sell ebooks, courses, and live classes. The platform offers essential class components such as…
Satellite-to-phone connectivity provider Lynk Global will head to the public markets via a merger with a shell company led by former professional baseball player Alex Rodriguez. The two companies confirmed the deal on Monday after announcing a non-binding LOI with Rodriguez’s special purpose acquisition company (SPAC), Slam Corp, in December. According to an investor presentation…
Commercial EV startup Arrival’s business continues to unravel. Arrival announced Monday in a regulatory filing that its U.K. division is entering administration, the country’s version of bankruptcy. The troubled company, which went public in 2021 via a merger with a special purpose acquisition company, said it’s looking to sell its U.K. assets and intellectual property…
Rivian will reveal its next-generation vehicle — a smaller, cheaper electric SUV known as R2 — on March 7, the company announced Monday morning. There’s little other detail about the event, though it’s expected to be held in Laguna Beach, California, as the company recently filed paperwork for an event there under the title “RIVIAN…
Samsung Electronics executive chairman Jay Y. Lee has been declared not guilty on the charge of stock price manipulation and accounting fraud related to the merger of Samsung affiliates in 2015, a South Korean Court ruled on Monday. In the November hearing, prosecutors had called for Lee to be in jail for five years and a…
Shares of Paytm plunged 10% on Monday, the third consecutive session of declines, touching an all-time low of 438.35 Indian rupees (or $5.28) after the RBI’s clampdown last week looks to have had a more extensive impact than previously anticipated. The trading was halted after Paytm’s shares fell 10%, the artificial limit put on its…
The long-awaited launch of bitcoin spot ETFs in the United States this year helped engender a wave of optimism that the value of the well-known cryptocurrency would quickly appreciate. The logic was simple: With an easy, low-cost avenue now available for regular investors to purchase bitcoin, the supply-demand curve would shift and the value of…
