tech

Dreaded ‘down rounds’ shave billions off startup valuations

Aug 9 (Reuters) – Several high-flying startups are being brought down to earth, as a recent carnage in global equity markets and lackluster demand for new listings force companies to raise funds at a substantial discount to their sky-high valuations. Easy money from venture capital dealmaking is fast evaporating in an inflation-induced high interest-rate environment …

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Rocket Cos to buy personal finance app Truebill for nearly $1.3 bln

Dec 20 (Reuters) – Rocket Cos Inc (RKT.N) said on Monday it would buy personal finance app Truebill for nearly $1.3 billion in cash, as the Detroit-based company looks to expand its reach in the consumer finance market. Shares of Rocket, a platform that comprises mortgages, tech-driven real estate and financial services businesses, were down …

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Singapore-based crypto lender Hodlnaut suspends withdrawals

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register HONG KONG, Aug 8 (Reuters) – Hodlnaut, a Singapore-based crypto currency lender and borrower, has suspended withdrawals, swaps and deposits, …

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Musk challenges Twitter CEO to public debate on bots

Elon Musk’s Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration//File Photo Register now for FREE unlimited access to Reuters.com Register Aug 6 (Reuters) – Elon Musk on Saturday challenged Twitter Inc (TWTR.N) Chief Executive Officer Parag Agrawal to a public debate …

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India freezes assets of Binance-linked WazirX

Representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register MUMBAI, Aug 5 (Reuters) – India’s financial crime-fighting agency said on Friday it had frozen the assets of WazirX, linked to the world’s largest digital currency exchange Binance, as part of its investigation …

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Musk says Twitter deal should go ahead if it provides proof of real accounts

An image of Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register Aug 6 (Reuters) – Elon Musk said that if Twitter Inc. (TWTR.N) could provide its method of sampling 100 accounts and …

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Tensions with US spur Chinese buying of chipmaking stocks

Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration Register now for FREE unlimited access to Reuters.com Register SHANGHAI, Aug 5 (Reuters) – Chinese chipmakers’ shares jumped by the most in two years this week as House of Representatives Speaker Nancy Pelosi’s visit …

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Tesla sets Aug 25 as trading day for three-for-one split shares

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann Register now for FREE unlimited access to Reuters.com Register Aug 5 (Reuters) – Tesla Inc (TSLA.O) said on Friday trading in its three-for-one split shares will start on Aug. 25, after the electric vehicle maker’s …

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Amazon’s connected device cart grows with $1.7 billion deal for Roomba maker

Aug 5 (Reuters) – Amazon.com Inc (AMZN.O) will acquire the maker of robot vacuum cleaner iRobot Corp (IRBT.O) in an all-cash deal for about $1.7 billion, in the latest push by the world’s largest online retailer to add to its cart of smart home devices. Amazon will pay $61 per share, valuing iRobot at a …

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Tesla shareholders broadly follow board recommendations at the annual meeting

Aug 4 (Reuters) – Tesla Inc (TSLA.O) shareholders voted in line with board recommendations on most issues at the company’s annual meeting on Thursday, re-electing directors, approving a stock split and rejecting a number of proposals focused on environment and governance. Votes on three of 13 proposals did not follow board recommendations, according to preliminary …

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