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2/10/2021: What’s Going On

Salesforce, Apple and more from around the business world.
(Daniel Constante)
(Daniel Constante)
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“Aunt Jemima is now Pearl Milling Co. The PepsiCo Inc. unit that sells Aunt Jemima pancake products unveiled the new name on Tuesday, officially retiring a brand that had come under criticism for its origins in racist imagery of Black people.”

Online-dating company Match Group Inc. has reached an agreement to acquire South Korean social-media company Hyperconnect for $1.73 billion, broadening its services beyond connecting people in their love lives. The cash-and-stock deal, announced Tuesday, marks Match Group’s largest acquisition to date.

Companies Raising Capital
NameAmountDescription
Thrasio$750 MillionConsolidating The Amazon Third-Party Seller Market
Ramp$150 MillionStartup That Competes In The Corporate Spend Market (Raised Debt Line)
Lengoo$20 MillionAI Translation Service That Rivals Professionals
Uptime$16 Million“Micro-Learning” And “Knowledge Hacking” Platform
SmartHop$12 MillionEasing Trucking Logistics

“Archer Aviation, the electric aircraft startup targeting the urban air mobility market, has landed United Airlines as a customer and an investor in its bid to become a publicly traded company via a merger with a special purpose acquisition company.”

“Group Corp. plans to put $900 million into red-hot gene-sequencing company Pacific Biosciences of California Inc., as the Japanese technology conglomerate ramps up a new public-equity investing effort.”

“China’s Huawei Technologies Co. filed a lawsuit in the U.S. disputing its designation as a national security threat by the Federal Communications Commission, stepping up legal challenges in the country despite a change of administration in Washington.”

“Salesforce.com Inc. plans for most of its employees to work remotely part or full time after the pandemic and to reduce its real-estate footprint as a result, a top executive said, showing Covid-19’s lasting impact on how companies manage their workforces.”

“Apple is working with Taiwanese chipmaker TSMC to develop new display technology that could eventually go into its upcoming augmented and virtual reality devices, Nikkei Asia reported.”

“A combination of two Eli Lilly & Co. antibody-based drugs to treat recently diagnosed Covid-19 was authorized by federal health regulators, the latest treatment aimed to help people at high risk of severe disease from avoiding hospitalization.”

A surge of expected store closings early this year hasn’t materialized after strong holiday sales prompted retailers to hold on to their leases in hopes of a shopping rebound.

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