fbpx

3/5/21: What’s Going On

News from around the business world.
(Sundry Photography)
(Sundry Photography)
Share on facebook
Share on twitter
Share on linkedin
Share on email

“Alphabet Inc.’s Google has crushed almost all its competitors in the world of digital-advertising technology. But one rival is emerging as the best hope to challenge the tech giant—if it manages to keep up its momentum. The Trade Desk Inc., which specializes in helping companies buy online ads across publishers’ websites, did what others failed at: eating into Google’s share of the market. While Google dominates that area of ad-buying with about 40% of the business, Trade Desk is up to nearly 8% and its share is growing faster than Google’s, according to ad-tech consulting firm Jounce Media.”

“An independent market monitor said the Texas power-grid operator made a critical mistake that resulted in $16 billion in electricity overcharges last month, and recommended that the charges be reversed. The monitor concluded that Texas kept wholesale prices high for 33 hours longer than warranted as the state dealt with a major winter storm that led to power shortages and mass blackouts and should correct this mistake by retroactively repricing its wholesale power market for that period.”

Billionaire investor Chamath Palihapitiya, the chairman of Virgin Galactic who took the company public through a SPAC deal in 2019, sold his remaining personal stake this week, a securities filing disclosed. Palihapitiya sold about 6.2 million Virgin Galactic shares on Tuesday and Wednesday, worth about $213 million at the average selling prices. He still indirectly owns about 15.8 million shares through Social Capital Hedosophia Holdings — the special purpose acquisition company that he formed with investor Ian Osborne.

Companies Raising Capital
NameAmountDescriptions
SiCepat$170 MillionEnd-To-End Logistics Startup in Indonesia
Stream$38 MillionService Which Lets Developers Build Chat And Activity Streams Into Apps
Whatnot$20 MillionLive Streaming Platform Built To Sell Collectibles
Hepster$10 MillionGerman Insurtech Platform

“SpaceX has launched another batch of its Starlink satellites — the usual complement of 60 of the low Earth orbit spacecraft, which will join the more than 1,000 already making up the existing constellation. This is the fifth launch of Starlink satellites for SpaceX this year, and the twentieth overall.”

“The owner of Saks Fifth Avenue is splitting off its e-commerce business into a separate entity and raising $500 million to capitalize on the explosive growth in online shopping, according to company executives.”

“Chinese leaders said they would target gross domestic product growth of 6% or more this year, a relatively modest goal that nonetheless signals continued optimism after a year in which the coronavirus eviscerated the global economy.”

“Canada’s trade sector unexpectedly recorded its first surplus in almost two years on across-the-board increases in exports.”

“Senate Democrats advanced a $1.9 trillion coronavirus relief package Thursday after making a series of adjustments related to student loans, infrastructure and other matters, with approval in the chamber expected within days.”
“Daniel Danker, an Uber executive who helped to expand the company’s restaurant-food delivery business to groceries last year, is decamping to Instacart, a much bigger grocery delivery firm, according to a person familiar with the move.”

Share on facebook
Share on twitter
Share on linkedin
Share on email

Responses

Related Posts