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3/24/21: What’s Going On

News from around the business world.
(BigTunaOnline)
(BigTunaOnline)
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“WarnerMedia appears to be done with its 2021 experiment of releasing movies simultaneously on HBO Max and in theaters. The company has struck a deal with the Regal theater chain under which Warner films will have a 45-day exclusive window, which means streaming release would be delayed by at least six weeks after films show up in theaters.”

“Messaging app Telegram has raised over $1 billion in debt ahead of an eventual public offering, according to founder and CEO Pavel Durov. To secure the financing, Telegram sold corporate bonds to “some of the largest and most knowledgeable investors from all over the world,” Durov announced on his Telegram channel, where he regularly communicates with the app’s 500 million monthly active users, most of whom live outside of the United States.”

“London-based Hopin bought two more video streaming businesses as the virtual events start-up spends some of the hundreds of millions of VC-funding it’s raised. The company, which stages online events and conferences, has benefitted hugely from the worldwide shift to working from home, raising $570 million in VC-funding since founding two years ago, at a valuation that reached $5.65 billion.”

Companies Raising Capital
NameAmountDescriptions
Dream Sports$400 MillionIndian ‘End-To-End Sports Tech’ Company
Fedzai$200 MillionUsing AI Tools To Fight Financial Fraud
Hopper$170 MillionCanadian Travel Startup
Neighbor$53 MillionSelf-Storage Marketplace
Public App$41 MillionIndian Social Network

“Intel is spending $20 billion to build two new chip fabrication plants in Arizona while also rekindling plans to provide chip manufacturing services to other companies in the U.S. and Europe, CEO Pat Gelsinger said in his first major news conference since taking the helm last month.”

“The blogging platform Medium announced it is offering voluntary buyouts to all of its roughly 75 journalists and editors, most of whom it hired away over the past few years from publications like Fast Company and Mashable to build bespoke publications around topics like tech and health.”

“Amazon is among a group of big-name investors looking to quickly cash-in on food and grocery delivery company Deliveroo’s initial public offering next week.”

“The prospect of summer drivers crowding U.S. highways is powering steep gains in the price of gasoline, a sign of economic recovery and a boon for the pandemic-ravaged energy industry.”

“Amazon warehouse workers in Alabama are voting on whether to unionize this month. Whatever the result, the e-commerce giant faces pressure from staff world-wide to make changes to its working conditions.”

“Blockchain.com, a London-based firm that provides a variety of cryptocurrency services to retail and institutional clients, raised $300 million in a deal that highlights venture capital’s growing willingness to jump back into the bitcoin frenzy.”

“GoPuff, the SoftBank-backed delivery startup that delivers convenience store items, said its value after a new cash injection had more than doubled to $8.9 billion.”

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