Tech

Digital loan start-up Blend jumps to $1.7 billion valuation as mortgage demand surges

5 years ago

Digital lending start-up Blend raised $75 million in fresh funding at a valuation of almost $1.7 billion, a jump of more than 70% from its previous round a year earlier, CNBC has learned.
Refinance application volumes jolted more than 1,000% higher in March, and purchase applications climbed by more than 100% every month since May, according to company figures.
The Series F funding round was led by Canapi Ventures, a fintech VC fund that is backed by the banking industry and led in part by Gene Ludwig, a former U.S. regulator who founded the Promontory Financial Group.

Fintech app Robinhood is driving a retail trading renaissance during the stock market’s wild ride

5 years ago

The start-up, launched in 2013 with a free-trading model, has been mimicked by incumbent brokerage firms including Charles Schwab, Fidelity and TD Ameritrade.
Retail brokers are seeing record new account openings this year despite the pandemic.
In May, Robinhood brought in $280 million of fresh capital, boosting its valuation to $8.3 billion, even after its trading technology stumbled badly during the coronavirus crash.

Pandemic sours Delta’s investments in foreign airlines, costing $2 billion

5 years ago

Delta has aggressively pursued investments in foreign airlines in recent years to help grow abroad.
The carrier posted charges of more than $2 billion related to those soured investments.
International air travel demand has plunged in the pandemic due to weak demand and travel restrictions.

Tech

UK looks to challenge Elon Musk’s Starlink after winning bid for bankrupt satellite company OneWeb

5 years ago

The U.K. has pledged to invest $500 million in bankrupt satellite-broadband company OneWeb.
OneWeb is developing a satellite network that’s designed to beam high-speed, low latency internet to Earth.

Lemonade reaches $3 billion market cap after shares soar more than 138% on its IPO day

5 years ago

Shares of Lemonade, an digital insurance company, soared more than 138% in its Thursday market debut.
The company’s stock opened at $50.06 after pricing at $29 per share Wednesday.
Lemonade offers insurance to renters and homeowners with the use of artificial intelligence and chatbots.

Boeing suspends dividend, CEO foregoes pay after virus-related aid request

5 years ago

Boeing is pursuing $60 billion in U.S. government aid to help prop up a U.S. aerospace manufacturing supply chain already reeling from the year-old grounding of its previously fast-selling 737 Max jetliner after fatal crashes.

Tech

Top Tesla investor bets flying taxis are the future, taking a stake in German start-up Lilium

5 years ago

Lilium made waves last year with the maiden flight of its five-seater air taxi.
Following fresh funding, the firm has secured a valuation north of $1 billion.
Baillie Gifford has taken a less than 5% stake in the Munich-based company.

Tech

The race to develop AI chips heats up as Graphcore says it’s shipped ‘tens of thousands’

5 years ago

Graphcore co-founder and CEO Nigel Toon says that “tens of thousands” of his start-up’s intelligent processing units (IPUs) have now been shipped.
Microsoft is using Graphcore’s chips in some of its data centers and Dell is selling them on a server.
Graphcore has raised over $450 million from the likes of Sequoia, BMW, DeepMind’s co-founders and C4 Ventures.

Elon Musk calls for Amazon breakup after Covid-19 skeptic claims it censored his book

5 years ago

Elon Musk on Thursday tweeted that he thinks it’s time to break up Amazon.
“This is insane @JeffBezos,” Musk said, tagging the Amazon CEO. “Time to break up Amazon. Monopolies are wrong!”
His tweet was directed at former New York Times reporter Alex Berenson and Amazon CEO Jeff Bezos after Berenson published a screenshot showing that his upcoming book about Covid-19 doesn’t meet Amazon guidelines for sale.

Tech

Zoom revenue grew 169% during the quarter, and the company doubled its revenue guidance for the year

5 years ago

Zoom’s revenue growth picked up significantly during the quarter.
The company more than doubled its revenue guidance for the fiscal year as well.
Many people have flocked to Zoom in recent months to virtually meet with colleagues, classmates, friends and family members as the coronavirus has continued to spread.

Tech

Digital loan start-up Blend jumps to $1.7 billion valuation as mortgage demand surges

Fintech app Robinhood is driving a retail trading renaissance during the stock market’s wild ride

Pandemic sours Delta’s investments in foreign airlines, costing $2 billion

UK looks to challenge Elon Musk’s Starlink after winning bid for bankrupt satellite company OneWeb

Lemonade reaches $3 billion market cap after shares soar more than 138% on its IPO day

Boeing suspends dividend, CEO foregoes pay after virus-related aid request

Top Tesla investor bets flying taxis are the future, taking a stake in German start-up Lilium

The race to develop AI chips heats up as Graphcore says it’s shipped ‘tens of thousands’

Elon Musk calls for Amazon breakup after Covid-19 skeptic claims it censored his book

Zoom revenue grew 169% during the quarter, and the company doubled its revenue guidance for the year

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