Afrotech

This Black women-founded company has accepted an acquisition deal four years after its founding. Clutch, a digital marketing marketplace co-founded by Madison Long and Simone May that connects creators to businesses looking for content creation, was acquired by Plaiced, a self-serve platform for advertisers, TechCrunch reports. “The creator economy is growing rapidly, we knew to… Continue reading Clutch, A Black Women-Founded Digital Marketing Startup That’s Backed By Precursor Ventures, Gets Acquired

Clutch, A Black Women-Founded Digital Marketing Startup That’s Backed By Precursor Ventures, Gets Acquired

The Mumbai-based firm, which suspended all trading activities on its platform last week following the cyber attack that compromised nearly half of its reserves in India’s largest crypto heist, has outlined a strategy to resume operations within a week or so while implementing a “fair and transparent socialized loss strategy” to distribute the impact “equitably” among its user base.

WazirX to ‘socialize’ $230 million security breach loss among customers

This week we are talking about Wiz’s bold decision, VC’s public feud, legal tech’s new capital and a16z’s close call. Let’s go!. Wiz says no to Google: Walking away from the search giant’s $23 billion takeover proposal wasn’t an easy decision for the fast-growing, four-year-old cybersecurity startup that was valued in May at $12 billion. “Saying no to such humbling offers is tough, but with our exceptional team, I feel confident in making that choice,” Wiz’s CEO Assaf Rappaport wrote in a letter to his staff. The company is now aiming to reach a milestone of $1 billion in ARR by 2025, and an IPO, though Rappaport didn’t provide a timeframe for potential listing. Read more.

Legal tech, VC brawls and saying no to big offers

Mesh Payments, the technology provider for global corporate travel and expense (T&E) management, announced the appointment of Jennifer Ceran to its Board of Directors. Ceran brings more than two decades of financial leadership experience, “having served as CFO of Smartsheet, VP of Treasury for Box, and VP of Finance at eBay/PayPal.”

Mesh Payments, a Tech Provider for Corporate Expense Management, Appoints Jennifer Ceran to Board of Directors

For example, Black founders saw record amounts of funding in the bull year that was 2021, but that amount dipped substantially as the market cooled and as many DEI (diversity, equity, and inclusion) measures retreated. Women, on the other hand, have seen consistent funding for the past few years — hovering around 2%. Funding for mixed-gender teams, however, has been on the steady increase, implying that women founders see bigger checks if they bring a male co-founder along for the ride.

Stay up-to-date on the amount of venture dollars going to underrepresented founders

Lancaster County, PA

Community Voices represent independent, third-party users who have joined our contributor program but not yet verified their accounts. Community Voices are expected, like all users, to adhere to our Community Standards.

community_voice

NewsByJoshua

Fans of Frisco's Chicken were left reeling as the beloved Peruvian-style eatery announced the closure of all its locations in Lancaster County, Pennsylvania. The chain, known for its delicious food and strong community values, posted a heartfelt note on its doors, informing customers of the devastating news.

Favorite Chicken Chain Suddenly Closes All Stores, Heartfelt Message Found on Doors

New York Post

Cash or card?

Target will no longer be accepting personal checks as a form of payment at its stores beginning later this month, the company confirmed.

The Minnesota-based big-box retail chain will stop taking checks this month due to “extremely low volumes,” of such payments, a spokesperson told NBC Chicago.



America may soon be subjected to the country’s first DEI president: Kamala Harris

The company has taken “several measures” to notify customers in advance, the spokesperson added.

The change will go into effect on July 15 following the end of Target’s popular Circle Week sales event.

Walmart rival gaining ground in affordable pricing

While personal checks will...

Target will soon stop accepting this form of payment

OpenAI could lose as much as $5 billion in 2024, putting the startup at risk of bankruptcy within 12 months, according to a report. The Sam Altman-led company is spending more cash than it should and that could force it to bankruptcy if it doesn’t get more funding within 12 months, reported The Information.

OpenAI on verge of bankruptcy & heading for $5 billion in losses: Report

Colorado State

The Independent

The potential megamerger between Kroger and Albertsons, two of the largest supermarket operators in the United States, is on hold while lawsuits play out in state and federal court.On Thursday, the two companies agreed to a temporary injunction in Colorado – where the state Attorney General Phil Weiser sued to block the $24.6 billion deal from closing. Weiser said the merger violated Colorado antitrust laws and would cause “irreparable harm” to “consumers, workers and suppliers.”Simultaneously, the Federal Trade Commission has filed a lawsuit in federal court in Oregon, raising concerns the deal would lead to higher prices, fewer choices for...

Kroger pauses massive merger with rival grocery chain after numerous lawsuits and regulatory challenges

Here’s a story that’s making waves in the retail world: Conn's HomePlus, a well-known discount furniture chain, has just filed for Chapter 11 bankruptcy. And the news isn’t just about numbers—it’s about real people and places, so let’s dive into what’s happening.

Another retail giant has just filed for Chapter 11 bankruptcy and is shutting down several stores.

California State

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

writer

San Diego, CA

Capital Chronicles

Some big news out of California that's shaking up the job landscape, especially in the medical device industry. Dexcom, a major player in the field, has announced it will be laying off 535 employees at its San Diego location. This move is set to happen on July 26 and is part of a broader trend of job cuts across the medtech sector.

Major Company in California Lays Off 500 Employees

McPhersonBuzz News

Google has been ordered to pay out $700 million to consumers and the states after being found guilty of violating antitrust laws and engaging in anti-competitive practices. Google Forced to Pay Out $700 Million The US Department of Justice and several states sued Google four years ago, accusing the tech giant of abusing its power […]

Google Forced to Pay Out $700 Million: Consumers to Receive $2 Minimum Payout After Antitrust Violations

Business Insider

Ho's stake in the newly-public company is worth nearly $70 million. Bloomberg estimates his family's fortune at $13 billion.

Meet the 29-year-old son of a casino billionaire who just took his influencer and esports company public

UPS will soon acquire a nearly 50-year-old delivery company based in Mexico as part of the company’s plan to become the top delivery service in the world. UPS has entered into an acquisition agreement with Estafeta, which is expected to close by the end of the year. The acquisition of Estafeta will include six Boeing 737-400 freighters, along with maritime, railway, and trucking services, reported AirCargoNews.

UPS to acquire nearly 50-year-old Mexican delivery company

PYMNTS

As aggregators compete to win the spending of financially struggling consumers, more players in the space are expanding their acceptance of Supplemental Nutrition Assistance Program (SNAP) Electronic Benefits Transfer (EBT) payments. Target-owned same-day delivery aggregator Shipt, for instance, recently said it has begun accepting these benefits on its marketplace, reaching...

Aggregators Expand SNAP EBT Acceptance to Woo Paycheck-to-Paycheck Shoppers

San Francisco, CA

 X is reportedly looking to sublease its entire, roughly 800,000 square foot headquarters in San Francisco, in a potential sign the company may be relocating.Real estate firm Jones Lang LaSalle Inc is marketing the social media giant’s entire facility in the Mid-Market neighborhood as “one large headquarters opportunity,” though X may continue to occupy some office space, according to the San Francisco Chronicle. X, then known as Twitter, moved to the area in 2011 after received a special tax break, and is creditted with helping turn a blighted stretch of the city into one temporarily filled with office workers,...

Elon Musk’s X wants to sublease entire 800,000 sq ft San Francisco headquarters

Kentucky State

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

Northern Kentucky Tribune

Kentucky’s medical cannabis program has taken significant steps toward ensuring those with qualifying conditions have access to medical cannabis as soon as possible, said Gov. Andy Beshear this week.

State to open licensing applications for medical cannabis businesses beginning July 1

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

24/7 Wall St.

The EV Sector Can’t Stop Burning CashIn our discussion, we highlight Lucid (NASDAQ: LCID) Motors’ dire financial situation despite producing 2,110 cars in the second quarter. The company has suffered substantial losses, with its stock down 85% over the past two years and billions of dollars in shareholder value wiped out. We conclude that Lucid’s […]
The post This Company Is Headed For Bankruptcy appeared first on 24/7 Wall St..

This Company Is Headed For Bankruptcy

Evri is planning to hire 9,000 more staff as it prepares to deliver more parcels after agreeing to be bought by new owners in a deal worth £2.7 billion.The company said it was embarking on a recruitment drive to grow its team of couriers and in its warehouses.Scotland, Bury St Edmunds, Plymouth and Gatwick have been selected as key areas for hiring in a bid to meet swelling demand for deliveries.Evri said the number of parcels being delivered was now higher than during the pandemic years, when lockdowns and the shift to remote working caused home deliveries to boom.This has...

Evri plans hiring spree with 9,000 more jobs to meet delivery boom

NewsBreak

Stripe acquires payment processing startup Lemon Squeezy

Terms of the deal were not disclosed. As a merchant of record, Lemon Squeezy calculates and pays global sales tax for digital products, handling legal processing...

Stripe acquires payment processing startup Lemon Squeezy

Comments / 0