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2/25/21: What’s Going On

News from around the business world.
(michelmond)
(michelmond)
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“Despite the tech industry’s broad shift to remote work, Facebook is doubling down on physical office space in New York. It signed a major deal during the pandemic making it one of the city’s largest corporate tenants. WSJ takes an exclusive look inside Facebook’s future NYC offices.”

“WeWork co-founder and former Chief Executive Adam Neumann is set to reap an extra $50 million windfall and other benefits as part of an agreement that would settle a bitter dispute he and other early investors in the shared-office-space provider have waged with SoftBank Group Corp.”

“Watershed, a software startup intended to help businesses reach zero net carbon emissions quickly, launched today with backing from Sequoia Capital, Kleiner Perkins, Stripe founders Patrick and John Collison, and Laurene Powell Jobs. Renowned investors Michael Moritz and John Doerr have joined its board of directors, the company announced.”

Companies Raising Capital
NameAmountDescriptions
Wallapop$191 MillionClassifieds Marketplace
Doubtnut$31 MillionIndian EdTech Startup
Fi$30 MillionConnected Pet Collar Company
Lexer$25.5 MillionCustomer Data Platform
Next Gen$10 MillionPlant-Based Food Startup

“Dispo, a camera app and burgeoning social network co-founded by social media celebrity David Dobrik, has raised $20 million at a $200 million valuation, Axios reports. The Series A financing was led by venture firm Spark Capital.”

“Markets are signaling that inflation is coming and investors are getting ready. Treasury yields are rising and stock-market investors are starting to shift from high-growth tech companies toward companies like airlines that will benefit from an economic rebound.”

“Boeing Co. was planning to strengthen protective engine covers on its 777 jets months before a pair of recent serious failures, including one near Denver last weekend, according to an internal Federal Aviation Administration document.”

“Rich countries’ governments borrowed $18 trillion from bond markets in 2020—more than ever before—but their borrowing costs hit a record low, due to a big rise in bond purchases by central banks, as well as a lack of concern about public debt levels among private investors.”

“Chinese ride-hailing giant Didi Chuxing Technology Co. plans to make its debut in Western Europe, people familiar with the matter said, as the company seeks new growth markets ahead of a long-awaited initial public offering.”

“Europe’s main antitrust enforcer has found a new target in its regulatory push against global tech companies: the labor conditions of gig workers.”

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