Author: GPosting
Fisker provided an upbeat forecast on the ramp-up of its electric automaking business during Wednesday’s third-quarter earnings call, highlighting its manufacturing partnership with Foxconn, a battery supply agreement with Chinese battery giant CATL secured and its on-track production for the company’s debut Ocean SUV. The company confirmed that it will start production of the Ocean in November 2022, in partnership with automotive contract manufacturer Magna Steyr, and will produce two vehicles a day by the first quarter of next year, CEO Henrik Fisker said during an investor call Wednesday. Deliveries are on track to begin in the U.S. and Europe…
Meet Pixpay, a French startup that wants to replace cash when you’re handing out pocket money to your kids. Anybody who is older than 10 years old can create a Pixpay account, get a debit card and manage pocket money. Challenger banks are nothing new, but they’re still mostly targeted towards adults. If you want to create an N26 or Revolut account, you need to be at least 18 years old. You can create a Lydia account if you’re at least 14 years old with parental consent. Pixpay, like Kard, wants to fill that gap and offer modern payment methods…
French startup Gourmey just raised a Series A funding round led by Earlybird Venture Capital. In total, the company banked $48 million (€48 million). The company has been working on cultivated meat, and more specifically lab-grown foie gras. It is part of a new wave of companies that want to turn cell-cultured meat products into mainstream products. “Most of the financing is equity but also includes a minor portion of non-dilutive funding, specifically from public institutions like Bpifrance,” co-founder and CEO Nicolas Morin-Forest told me. Gourmey isn’t disclosing the valuation of the company. Other investors in today’s round include Keen…
Naver, the South Korean search giant, today announced it plans to acquire secondhand apparel marketplace Poshmark for $1.2 billion in cash. The deal values publicly traded Poshmark’s shares at $17.90 — a 15% premium over today’s closing price — and the companies expect it to close by Q1 2023, subject to approval by Poshmark stockholders and “the satisfaction of certain other customary closing conditions.” Assuming the transaction goes through, Poshmark will become a standalone subsidiary of Naver led by CEO Manish Chandra and Poshmark’s current management team. It’ll continue to operate under its existing brand, Naver says, and maintain its…
[Thread] Former Facebook employee, now Coatue Management Chairman, shares his experiences working with Mark Zuckerberg during Facebook’s early days — In my experience the best founders develop a fighter mentality. Mark Zuckerberg was a fighter, and without that mentality Facebook would never have achieved its full potential. Here’s what I saw over 13 years working for Zuck:
Nintendo says it doesn’t see “component shortages recovering” at the moment as it cuts Switch sales target from 25.5M to 24M for FY 2021 — – Company upgrades operating profit outlook citing FX rates — Sustaining sales momentum will depend heavily on OLED model
A bug in Razer’s Synapse software, which Windows fetches and installs when a Razer accessory is plugged in, lets anyone with a Razer mouse gain admin privileges — A Razer Synapse zero-day vulnerability has been disclosed on Twitter, allowing you to gain Windows admin privileges simply by plugging in a Razer mouse or keyboard.
Interview with Sam Lessin and YouTuber Marina Mogilko about a $1.7M investment in her, in exchange for 5% of her creator-related earnings for the next 30 years — She gets $1.7 million. Sam Lessin’s venture firm gets 5% of her creator earnings for 30 years. “it’s def not indentured servitude,” he says.
Profile of DigitalMint, a final-mile crypto broker that helps ransomware victims pay ransoms in cryptocurrency, within 30-60 minutes of contact from the hacker — – A business will fall victim to a ransomware attack every 11 seconds this year, according to research firm Cybersecurity Ventures.
A look at the rise of BitClout, a burgeoning crypto service monetizing social influence, valued at more than $1B in April, but operating in a legal gray zone — BitClout collapses everything—art, humor, personhood—into money, laying bare just who, and what, we are willing to pay for.