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UK Books 7M Moderna Covid Vaccine Doses

The UK Government has now booked a total of 7 million doses of a Covid-19 vaccine developed by the American biotech company Moderna, having just announced that it's booked an additional 2 million doses to add to 5 million doses which it previously booked. The order for 2 million more doses notably comes after Moderna announced having recorded a  95% efficacy rate from the trial of its vaccine candidate. Overall, the UK has now booked up to 357 million Covid-19 vaccine doses from 7 different companies. Moderna's very own vaccine could start being delivered as early as spring 2021, still subject to approval from the UK's Medicines and Healthcare products Regulatory Agency (MHRA). Moderna has said that it's looking to produce between 500 million and 1 billion doses of its Covid vaccine each year beginning in 2021. The company has begun making arrangements with manufacturing partners in the US, Spain, and Switzerland. Already, the US government earlier awarded a $1.5 billi

Facebook's Libra Set For Early 2021 Launch

Facebook's digital currency project Libra is set for launch by as early as January next year but in a limited format, The Financial Times reports , whereas Facebook had earlier scheduled Libra's launch for this year but got delayed by regulatory hassles and pushback. Libra is a blockchain-based payments system that's planned by Facebook to be used globally and as such drawn attention from monetary regulatory authorities across the globe. Many have expressed skepticism including the US Federal Reserve Chair Jerome Powell who has voiced "serious concerns regarding privacy, money laundering, consumer protection and financial stability". Some like France and Germany have voiced outright opposition to Facebook's Libra project, leading the technology giant to delay its proposed launch in order to settle arisen issues.  Under its Libra project, Facebook had planned to release a digital wallet called 'Novi' this very November but now hasn't done so. The c

Nikola's Lockup Expiry Nears

Nikola, the publicly-traded electric carmaker that's notably still in the stage of developing its product and is reeling from recent scandals that include fraud accusations, is set to reach its 6-months lockup expiry c ounting from June  on the 30th of this month November.  The expiry will release a large block of shares for trading, estimated to be about 130 million additional shares to its current free float of about 171 million shares, Bloomberg reports . With that, the share price of Nikola could fall further after having fallen over 70% from its peak price of $93.99 to $27.93 as of trading close this Friday, depending on if shareholders decide to sell their previously locked-up shares en masse. Notably, Nikola's founder and former chief executive Trevor Milton who was ousted from the company this September after fraud accusations will now be free to offload his shares at choice. He had previously said in a tweet that he has no plans to do so but that was before he was ou

QuantumScape; A Good Investment?

Just yesterday or precisely Friday the 28th of November, 2020, QuantumScape, a ten-year-old company that's working on solid-state lithium-metal batteries for electric vehicles, debuted on the public markets via a merger with a blank-check firm named Kensington Capital Acquisition Corp.  The public debut added over $700 million to QuantumScape's coffers in addition to some $300 million in funding that the company had recently secured from the automaker Volkswagen and the Qatar Investment Authority, wheras QuantumScape fared very well and rose over 50% on its first day of trading. Companies or more so technology companies often pop by fairly large margins on their first trading days but may later cool down over time, whereas there's no guarantee of a company that soars on its first trading day continuing to soar and not fall or, on the other hand, a company that falls on its first trading day continuing to fall and not rise. Take for example the data mining and analytics fir

Netflix To Start Declaring Full UK Revenues

The video streaming giant Netflix will start separately declaring its UK revenues to the country's tax authorities, The Guardian reports , whereas the company has for long funneled its UK revenues through separate accounts at its European headquarters in the Netherlands.  Netflix like several other American tech giants including Apple, Amazon, and Facebook maintain European headquarters in countries with lesser corporate tax rates such as Ireland, Luxembourg, and the Netherlands. Netflix's move to start declaring the estimated £1 billion-plus revenues it makes from millions of UK subscribers will likely increase the amount of corporate tax it pays in the country and could put pressure on other fellow American tech giants to do the same. Currently, Netflix has about about 13 million subscribers in the UK that result to estimated annual revenues of over  £1 billion ($1.3 billion).  In 2018, the company declared just 48 million euros ($57.4 million) in UK revenues described as a

Zappos Founder Tony Hsieh Passes Away

Tony Hsieh, an entrepreneur best known for founding the popular online shoe and clothing retailer Zappos, has passed away aged 46. His family has confirmed his death in a message to friends, whereas details regarding his death are undisclosed. Hsieh's death has drawn lots of tributes from across the technology community, a testament to his standing as a successful entrepreneur and personality within the American technology industry. Hsieh was a serial entrepreneur who aged 23 co-founded an advertising network, LinkExchange, that sold to Microsoft for $265 million just two years after starting. Later on, he co-founded the online shoe and clothing retailer Zappos that sold to Amazon for $1.2 billion in 2009. After 21 years serving as the CEO of Zappos, Hsieh stepped down just this August. Shortly after stepping down, he made a noticeable move by acquiring $56 million worth of properties in Park City in Utah, exact reasons unknown. According to local media , Hsieh passed away surroun

Hyundai, Kia Fined $137M In The US

The US National Highway Traffic Safety Administration (NHTSA) has levied penalties of $137 million on the Korean automaker Hyundai and its sister company Kia for delaying engine failure recalls in the US after they were shown to be faulty.  The NHTSA says Hyundai and Kia conducted untimely recalls of over 1.6 million vehicles equipped with its custom Theta II engines and further reported inaccurate information to the NHTSA regarding their recalls. As to that, both automakers have been fined the equivalent of $137 million, plus a deferred fine of $73 million that'll be further paid if certain conditions aren't met. Under their settlement terms, Hyundai will pay a fine of $54 million upfront and has agreed to spend an additional $40 million on specified performance safety measures. If the settlement terms aren't met adequately as judged by the NHTSA, Hyundai is subject to an additional $46 million penalty in that case. Similarly,  Kia will pay a fine of $27 million upfront an

Tesla Faces Probe Over Suspension Issues

The electric carmaker Tesla is facing a probe from the U.S. National Highway Traffic Safety Administration (NHTSA) over what's termed to be a front suspension safety issue, whereas the NHTSA has said that it's opening a preliminary probe into 2015-2017 Model S and 2016-2017 Model X Vehicles after getting 43 formal complaints alleging failure of left or right front suspension fore links. Out of the 43 complaints received by the NHTSA, 32 involved suspension failures that took place during low-speed parking maneuvers while the remaining 11 took place while driving. There are also eight other complaints that may involve the same issue, the NHTSA says. Notably, such an investigation doesn't seem alarming and is a regular routine by the NHTSA after receiving certain levels of complaints from customers regarding a vehicle. Tesla on its part has denied any safety defect in its Model S or Model X suspensions but has acknowledged a request from the NHTSA to provide information about

EV Battery Maker QuantumScape Goes Public

QuantumScape, a startup that's working on solid-state lithium-metal batteries for use in electric vehicles and is notably backed by the Tesla co-founder JB Straubel, has finalized its merger with blank-check firm Kensington Capital Acquisition Corp and debuted on the public markets on a good note, wherein its shares rose over 50% on its first trading day. QuantumScape is now traded on the New York Stock Exchange after a decade as a private company that was spun off from the prestigious Stanford University. Among early investors in the company who have reaped sizeable profits from their stakes now on the public markets include the automaker Volkswagen, entrepreneur Bill Gates, and of course Tesla co-founder JB Straubel. QuantumScape signed a deal to go public this September, a deal that secured over $700 million for the company both from its blank-check merger target, Kensington Capital Acquisition Corp, and other investors including asset management firms Fidelity and Janus Henders

Palantir Shares Hit Record High

The share price of the data mining and analytics firm Palantir has hit a record high and added over $17 billion in market value over the week, hitting a price of as high as $33.50 during trading on Friday before cooling down to about $28.60 notably after the investment outfit Citron Research announced that it was shorting the stock to a projected price of $20. Palantir debuted on the New York Stock Exchange just this September at a price of $10 and now trades at nearly triple that figure. On the heels of its debut, the company has seen long-time shareholders and insiders including CEO Alex Karp and Chairman Peter Thiel cash out shares to the tune of over $400 million. In the third quarter of this year which marked Palantir's first quarter as a publicly-traded company, the company posted a 52% year-over-year revenue jump to about $289 million whereas its losses came at $847.8 million but with $847 million of that amount incurred from stock-based compensation. Notably, Palantir close

India Caps Ride-Hailing Fees At 20%

The Transport Ministry of the Government of India has issued new guidelines that limit the commissions charged by ride-hailing providers like Uber and Ola Cabs to 20%. The limit is noticeably higher than the previous 10% proposed by the Transport Ministry, wherein industry experts had warned that a 10% cap could have widely impacted the revenue and operations of ride-hailing services in India. India has also imposed a limit on the 'surge pricing' tactic usually adopted by ride-hailing services at a time of higher demand, stating that surge prices at busy times must be limited to at most 1.5 times the usual base fare. The country's Transport Ministry has also said that ride-hailing companies must provide insurance cover for drivers and limit them to a maximum of 12 daily working hours. The ruling marks a notable one for two of the biggest ride-hailing services in India, the local Ola Cabs and Uber. Notably, India accounts for an estimated 11% of Uber's annual global ride

Royole Targets Soon China IPO

Royole, a Chinese maker of flexible displays that's valued at $5 billion by its investors, has shelved plans to seek a public offering in the US and is now seeking one in China, particularly on Shanghai’s Star Market board, Bloomberg reports , whereas Royole is said to have plans to file for its IPO as soon as December. Royole is well-known for manufacturing the world's first commercial foldable phone. The company also makes tablets, notebooks, and a virtual reality headset.  Founded in 2012 by Stanford grad Bill Liu, Royole is one of the top-most hardware companies from China and has raised $1.1 billion in venture funding from investors including IDG Capital, Knight Capital, and AMTD Group.  With its venture funding, Royole has built a big operation wherein it produces flexible displays in volume at a 4.5-million-square-feet factory in Shenzhen, a Chinese city that's known to be a global manufacturing hub. An IPO for Royole will mark a notably exit for China's hardw

Google's India Revenue Soars Higher

The Indian revenues of the American tech giant Google grew by a double-digit percentage to the equivalent of about $756 million in its most recent fiscal year, whereas the company pulled in the equivalent of $79.2 million in profit from the country, as indicated by filings with regulatory authorities. Revenue for the year went up by 35% while profit went up 24%. It seems that Google's increasing investment in India is paying off, whereas the company has pledged to spend $10 billion in the country over the next five to seven years. It has already fulfilled a significant part of its pledge with a $4.5 billion investment in the Indian telecom outfit Reliance Jio just this July. Also, Google is reportedly looking to buy the popular Indian social media app ShareChat for a price of up to $1 billion. Advertising revenue contributed 27% of Google India's revenues in the recent year while the rest came from technology and IT services. India's digital market is poised for huge gr

UK To Launch New Tech Watchdog

The UK Government has announced plans to set up a new antitrust watchdog that'll focus on tech companies and particularly those funded by digital advertising, most notably Google and Facebook. The new "Digital Markets Unit" will be "set up to introduce and enforce a new code to govern the behaviour of platforms that currently dominate the [digital advertising] market," the UK says. Under the enforcement of the new Digital Markets Unit, tech giants "could be required to be more transparent about the services they provide and how they are using consumers’ data, give consumers a choice over whether to receive personalised advertising, and prevented from placing restrictions on their customers that make it hard for them to use rival platforms," the UK says. Notably, some European countries have long clashed with American tech giants like Facebook, Google, Apple, and Amazon. Over time, the EU has levied billions of dollars in fines on American tech giants,

Tencent, Alibaba Pause IQiyi Buy Talks

The Chinese tech giants Tencent and Alibaba have each held separate talks to buy a controlling stake in the publicly-traded Chinese streaming service iQiyi which is controlled by Baidu but happens to have now suspended their talks, Reuters reports .  It's said that both Tencent and Alibaba have balked at the acquisition due to Baidu's demand for a valuation of around $20 billion for iQiyi and increasing antitrust scrutiny from Chinese regulators. Another Chinese tech giant, the TikTok owner ByteDance, is now considering the possibility of acquiring iQiyi, it's said. iQiyi is an online streaming service for the Chinese market and one of the biggest in the country. It's China's equivalent of Netflix, whereas it was launched ten years ago by the Chinese search engine giant and Google-equivalent Baidu. Baidu took iQiyi public in 2018 and still retains a controlling stake of 56.2% in the company. Over the years, iQiyi has grown to be the second-biggest player in China&#

SoftBank Soars To 20-Year High

The share price of the Japanese technology conglomerate SoftBank has risen to a 20-year high of 7,250 Japanese Yen ($69.70) per share, propelled by a rise of over 70% this year alone. SoftBank is reaping the effects of a surging stock market that's driven up the value of stakes which it holds in technology companies such as the ride-hailing company Uber. Notably, SoftBank recently posted a net profit of the equivalent of $18 billion for the first half of this year.  In addition to its current liquid investments in various technology companies, SoftBank is set to clinch sizeable profits from the imminent public listings of two of its portfolio companies, the food delivery company DoorDash and the home flipper Opendoor . Over the year, SoftBank has spent billions of dollars in share buybacks including $1.35 billion this October alone. The company has a broader plan to buy back as much as $9.6 billion of its stock, a move that's undoubtedly contributed to its rise. SoftBank's

Ray Dalio To Launch Singapore Office

Ray Dalio, the billionaire investor who is the founder of the world's biggest hedge fund Bridgewater Associates, is launching a family office in Singapore to cater to his investments throughout the Asian region. His move isn't surprising, given that Dalio, who is worth over $15 billion per Bloomberg rankings , has long-held ties to Singapore and Asia at large. Dalio is the latest business tycoon to open an office in Singapore, following the British inventor James Dyson and Chinese billionaire Shu Ping. Singapore has long been an attractive spot for family offices for international tycoons looking to invest in Asia and has scored another apparent win with Dalio's move to launch his own office there. Family offices are dedicated firms that handle investment management and wealth management for wealthy families, usually for families with over $100 million in investable assets. They are common across global financial hubs such as New York, London, Shanghai, Tokyo, and lately S

Alibaba Backs New Chinese EV Maker

The Chinese tech giant Alibaba has backed a new electric vehicle outfit named Zhiji which was formed by SAIC, a state-owned Chinese automotive manufacturer. SAIC unveiled its newly formed electric vehicle arm this week with Alibaba and a Shanghai government-backed entity as minority shareholders. Alibaba's investment in Zhiji is strategic, given that the tech giant will provide software solutions for the company. Alibaba partnered with SAIC back in 2015 with a joint $160 million investment in internet-connected cars and Zhiji seems to be a continuation of that partnership. In the past, Alibaba had notably backed another Chinese electric carmaker, Xpeng Motors, which had a successful IPO this year and has seen its shares soar high from its debut price, now with a market cap of over $47 billion. Over the years, major Chinese tech giants including Alibaba, Tencent, and Baidu have collectively bet billions of electric carmakers both in and outside China, with Baidu having backed Nio

Dyson Unveils $3.6B Development Plan

Dyson Ltd, the British technology company controlled by the inventor and billionaire businessman James Dyson, has announced a new £2.75 billion ($3.6 billion) war chest for the development of new technologies and products over the next five years. The announcement notable comes after Dyson reportedly lost over $600 million on a failed bet on electric vehicles. Dyson, the company, is best known for its household appliances such as vacuum cleaners, bladeless fans, heaters, and hand dryers but in recent years has sought to get outside the home. It first sought to develop an electric vehicle and spent big to do that but later scrapped its plan even before unveiling a prototype. Now, after a failed electric vehicle plan, Dyson is now back with a fresh and well-funded plan to develop a product that's not a household appliance for the first time. Particularly, Dyson says its 'key' focus is the commercialization of its solid-state battery technology that's currently under deve

Amazon Splashes $500M Bonus For Workers

The e-commerce giant Amazon has said that it would award $500 million in fresh bonuses to its frontline workers in the US, notably in the middle of a year that has brought record revenues for the company as people have adopted more online shopping amid a Covid-19 pandemic.  The bonuses are split into $300 for full-time US frontline workers and $150 for part-time workers who are employed by Amazon from December 1 to December 31 of this year. Notably, Amazon doled out a similar $500 million bonus for its workers this June. Amazon employs hundreds of thousands of frontline workers in the US and over a million globally. Amid record revenues this year, the company added 400,000 more jobs to facilitate its mammoth e-commerce operations.  Amazon is fresh off a quarter where it pulled in a record $96 billion in revenue, representing a 37% growth over the year. Amid such record revenues, the e-commerce giant had doled out over $2 billion on special bonuses and incentives for its frontline worke

Vista Co-Founder Brian Sheth Leaves Firm

Brian Sheth, a co-founder and President of the tech-focused private equity firm Vista, has announced his departure from the firm he co-founded two decades ago with the investor Robert Smith.  Sheth's departure notably comes on the heels of his partner Smith's embroilment in a tax dispute with the IRS that saw him cough up a $140 million settlement . More so, Smith is now a cooperating witness in a case against his business associate Bob Brockman, who is battling charges of concealing up to $2 billion of income  from US tax authorities in what marks as the biggest-ever tax fraud case against an American individual. Sheth co-founded Vista in 2000 and has helped build the firm into a private equity juggernaut with over $73 billion of assets under its management. Under the leadership of Sheth and his partner Smith, Vista has deployed $38 billion of capital on investments and returned over $31 billion to investors. Being a prolific investor in the tech industry, Vista just this mont

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Pokémon Go Creator Niantic Raises $300M, Valued At $9B

Niantic , an augmented reality (AR) company whose products include the famous  Pokémon Go game, has raised a big new round of funding. It's raised $300mn in funding at a valuation of $9bn. All the funding came from just one investor; Coatue , a New York-based hedge fund famous for investing in many blue-chip tech startups. With its new funding, Niantic says it'll invest in current games and new apps and expand its AR developer platform called Lightship . The company says it's set on building the "real-world metaverse," jumping on the bandwagon popularized by Facebook's parent firm, Meta.  The base for Niantic's metaverse vision is the Lightship developer platform which it launched this month. It's a platform for developers to build augmented reality apps and experiences, drawing from Niantic's tools that helped create its hit  Pokémon Go game. To draw creators to Lightship, Niantic has also set up a $20mn venture fund to invest in AR startups

Deal: Workday Buys Ohio Startup Vndly For $510M

Workday (NASDAQ: WDAY), the famous HR/finance software vendor, has made a big new acquisition to support its platform. The company will acquire Vndly , a software platform for companies to manage contract workers. Vndly fits in well in Workday's overall software suite, and the rationale behind the purchase is clear. Vndly is an Ohio-based startup. Workday will pay $510mn to buy it, marking one of Ohio's biggest startup exits this year. Vndly has raised roughly $60mn from VCs, so a $510mn exit is very lucrative and more so for a startup founded just four years ago .  Before now, Vndly and Workday were already close allies. Vndly's platform is integrated with Workday's, with official certification to go. The Mason, Ohio-based startup is part of Workday's global network of endorsed software partners, so Workday didn't even have to look far to snatch its latest acquisition.  Vndly was founded in 2017 by two entrepreneurs,  Shashank Saxena and Narayana Surabhi .

Amazon, Apple Fined $230M For Reseller Collusion In Italy

Tech giants Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL) have been handed sizeable fines by the Italian government following an investigation into alleged reseller collusion between both companies. Amazon was fined €135mn ($151mn) and Apple  €69mn ($78mn), totaling $229mn .  The fine was levied by the  Italian Competition Authority . According to the agency, Apple and Amazon had a contractual agreement to allow  select resellers to sell Apple and Beats products on Amazon's Italian marketplace. The agency said that the selection was applied in a "discriminatory" way that violated European Union rules and affected price competition. According to the  Italian Competition Authority, at least 70% of local consumer electronics purchases are made on Amazon, making it a dominant retailer. This dominance, therefore, demands a "level playing field" for retailers that sell on Amazon's marketplace, the agency said. This is the nth time Amazon is getting in the cr

Antitrust: US DOJ Sues To Block Major Sugar Industry Merger

The U.S. Department of Justice (DOJ) is freshly on the antitrust circuit, seeking to block a merger it deems detrimental to consumers. The agency has filed a lawsuit to block the sale of  Imperial Sugar , a leading American sugar producer, to rival  U.S. Sugar . The DOJ says the proposed deal will make just two sugar producers account for an "overwhelming majority" of refined sugar sales in the U.S. Southeast, U.S. Sugar being one of the two producers. This concentration of power would make consumers pay more for refined sugar, the DOJ says.  Imperial Sugar is owned by Louis Dreyfus Company, a privately-held agricultural giant based in the Netherlands. The company agreed to sell Imperial to rival U.S. Sugar for the sum of $315mn this March.  U.S. Sugar is another privately-held agricultural giant headquartered in Florida. It can produce up to 850,000 tons of sugar annually at its refinery plant in Florida, and buying Imperial would give it two more sugar plants in Kentuc

Alt-Meat Maker Impossible Foods Raises $500M In Fresh Funding

A leading maker of plant-based meat substitutes, Impossible Foods , has obtained a fresh cash infusion from VCs. It has  raised $500mn in new funding, bringing the total amount of funding it has raised since inception to $2bn.  The latest round was provided entirely by existing investors doubling down on Impossible Foods.  Mirae Asset Global , a Korean investment firm, led the round and was joined by other unnamed existing investors.  It's evident that investors are longing for Impossible Foods, a leading brand in the nascent market for plant-based meat substitutes. There's clearly huge potential for plant-based meat substitutes, driven by an increasing vegan population and the appeal to lower the carbon footprint that spurs from meat consumption. To that end, Impossible Foods is growing rapidly. Its products can now be found in more than 20,000 retail stores, compared to 150 as of March 2020, and 40,000 restaurants globally. Over the past year, Impossible has launched in ne

Deal: KKR Makes $37B Buyout Offer For Telecom Italia

Private equity giant KKR (NYSE: KKR) has ventured into Italy for its latest buyout deal. The firm has offered to buy Telecom Italia (BIT: TIT), the largest telecom provider in Italy, in a deal worth  €33bn ($37bn), including debt. KKR offered 0.505 Euros in cash for each outstanding  Telecom Italia share, a 46% premium to the last closing share price before the offer. That sums up to  €10.7bn ($12bn) in cash to be paid for Telecom Italia, and including the telecom firm's large net debt of €22.5bn ($25bn) sums up to $37bn in total.  KKR's offer is non-binding and must be approved by Telecom Italia's board members and majority shareholders before the deal goes through. Approval must also come from the Italian government, which was veto power over the takeover of the formerly state-owned telecoms firm.  Telecom Italia gave no indication that it'll approve the deal. If approval is given, it'll mark one of the biggest buyout deals of a European company by an America

Earnings: Nvidia Is On A Tear

Chipmaking giant Nvidia (NASDAQ: NVDA) has unveiled the financial results for its latest fiscal quarter ended October 31, 2021. The company reported a sharp rise in sales that can only be described as being on a tear. Nvidia posted $7.1bn in revenue in the quarter, up 50% year-over-year . The large growth was driven mostly by the company's data center sales, which increased 55% year-over-year to $2.9bn. Similarly, Nvidia's gaming revenue rose 42% year-over-year to $3.2bn. Net income for the quarter was $2.5bn , up 4% from the same period last year. It was an outstanding quarter all-around for Nvidia, a beneficiary of the recent massive growth of the gaming industry and data center boom. Nvidia's GeForce graphics cards are very popular with gamers, and data center operators patronize Nvidia's high-performance graphics processors for artificial intelligence applications.  Save for data centers and gaming, Nvidia has other minor product lines, including automotive chip

Cyber: Apple Sues NSO Group Over Spyware Hacks

Tech giant Apple (NASDAQ: AAPL) has filed a lawsuit against NSO Group , a controversial Israeli company that sells smartphone hacking tools and has been  implicated in the hacks and surveillance of many notable persons, including journalists, activists, and business executives, by state-sponsored actors. Apple has sued NSO Group for infecting iPhones with spyware to track users of interest. As part of the suit, the tech giant seeks a permanent injunction to ban NSO Group from using any Apple products. NSO Group is best known for its Pegasus spyware that can be covertly installed on mobile phones running most versions of iOS and Android. The company exploits vulnerabilities in both operating systems to introduce spyware into a phone without the user's knowledge. Pegasus was the center of a Washington Post investigation called "The Pegasus Project," revealing that the spyware was used to surveil over 1,000 identified notable individuals across countries with shoddy hu

Markets: Retail Giant Authentic Brands Scraps IPO Plans

Authentic Brands Group , a New York-based retail conglomerate, has suspended its plans for an initial public offering (IPO) after already filing an S-1 document with the US SEC. The company has instead opted to raise private funding to fund expansion in the main time. Authentic Brands Group's portfolio retail brands include apparel retailer Forever21 , men's suit maker Brooks Brothers , and department store chain Barneys New York . The company is akin to an old people's home where once-vibrant retail brands go to stay after they've gone past their peak. Authentic buys these befallen retail companies and makes money from what's left of them through licensing deals.  Over the years, Authentic has relied on hefty venture funding to assemble its constellation of old-guard brands. An IPO was supposed to raise even more money for expansion but has been set aside in favor of private funding.  Authentic is  rather selling  equity stakes to private equity firm CVC Capital

Markets: IoT Startup Samsara Files For IPO

The latest tech startup to board the IPO train is Samsara , a VC-backed startup that makes internet-of-things (IoT)-based fleet monitoring hardware and software for logistical operators. It has unveiled an S-1 filing with the US SEC, showing its intention to list on the New York Stock Exchange (NYSE). Samsara has raised nearly $1bn from VCs including Andreessen Horowitz, Tiger Global, and General Catalyst, with a valuation of $5.4bn from its last funding round. The company's co-founders sold a previous startup named Meraki to Cisco for $1.2bn . As expected, Samsara's S-1 filing gives a deep glimpse into the company's business with information not publicly disclosed before. The company has been rather secretive over the years, making this long-awaited information. We've extracted some important information so you don't have to, mostly the financial stuff. Samsara brought in $303mn in revenue in the nine months ended October 2021, compared to $174mn in the same