RECENT ARTICLES
Global coronavirus deaths cross 200,000, US beaches reopen, NY expands testing
In this articleThe coverage on this live blog has ended — but for up-to-the-minute coverage on the coronavirus, .The global death toll from the coronavirus pandemic crossed 200,000 on Saturday as countries and a handful of U.S. states ease lockdown restrictions. New York, the epicenter of the outbreak in the U.S., reported hospitalization and death rates that continue to improve, while doctors and experts around the globe weigh in on testing, treatment and vaccination. The data above was compiled by Johns Hopkins University.All times below are in Eastern time.British Prime Minister...…In this articleThe coverage on this live blog has ended — but for up-to-the-minute coverage on the coronavirus, .The global death toll from the coronavirus pandemic crossed 200,000 on Saturday as countries and a handful of U.S. states ease lockdown restrictions. New York, the epicenter of the outbreak in the U.S., reported hospitalization and death rates that continue to improve, while doctors and experts around the globe weigh in on testing, treatment and vaccination. The data above was compiled by Johns Hopkins University.All times below are in Eastern time.British Prime Minister...WW…
Thoma Bravo's $12.3 billion purchase of Proofpoint is the largest private equity cloud deal
Key PointsEven with private equity firms spending record amounts of cash for software in recent years, Thoma Bravo just trumped them all, announcing the biggest cloud buyout ever on Monday.Thoma Bravo it's buying security software vendor in a deal valued at $12.3 billion. The announcement comes four days after Thoma Bravo its prior top cloud acquisition — the $10.2 billion purchase of RealPage, which serves the real estate industry.The buyout firm has been building up a portfolio of cloud software vendors, focusing primarily on companies that have seen slowing growth rates and are selling...…Key PointsEven with private equity firms spending record amounts of cash for software in recent years, Thoma Bravo just trumped them all, announcing the biggest cloud buyout ever on Monday.Thoma Bravo it's buying security software vendor in a deal valued at $12.3 billion. The announcement comes four days after Thoma Bravo its prior top cloud acquisition — the $10.2 billion purchase of RealPage, which serves the real estate industry.The buyout firm has been building up a portfolio of cloud software vendors, focusing primarily on companies that have seen slowing growth rates and are selling...WW…
Coinbase gets reference price of $250 per share from Nasdaq ahead of today's direct listing
Key PointsIn this articleNasdaq gave Coinbase a reference price of $250 a share ahead of Wednesday's planned direct listing, which would value the cryptocurrency exchange at about $65.3 billion on a fully diluted basis.Coinbase is set to become the first major crypto business to go public in the U.S. and, should it reach a $100 billion market cap, will instantly be one of the country's 85 most valuable companies. The company's value has soared in the past year alongside bitcoin and ethereum, the primary currencies traded on the site.Coinbase chose the path to the public market rather than...…Key PointsIn this articleNasdaq gave Coinbase a reference price of $250 a share ahead of Wednesday's planned direct listing, which would value the cryptocurrency exchange at about $65.3 billion on a fully diluted basis.Coinbase is set to become the first major crypto business to go public in the U.S. and, should it reach a $100 billion market cap, will instantly be one of the country's 85 most valuable companies. The company's value has soared in the past year alongside bitcoin and ethereum, the primary currencies traded on the site.Coinbase chose the path to the public market rather than...WW…
How indie game makers turned Roblox into a $30 billion company
Key PointsEthan Gawronski was about 10 years old when he discovered Roblox. He dove into its games, mostly to socialize with other kids.Now, at age 20, Gawronski has his own Roblox game that he works on full time with his girlfriend, Elle Deppe. The couple, who met on the app, earned more than $49,000 in the past month from their action game, , by selling outfits and weapons players can use to make their characters look cooler and perform better."In private developer communities, there were people that were making stupid amounts of money and we thought we could do that," said Deppe, who's...…Key PointsEthan Gawronski was about 10 years old when he discovered Roblox. He dove into its games, mostly to socialize with other kids.Now, at age 20, Gawronski has his own Roblox game that he works on full time with his girlfriend, Elle Deppe. The couple, who met on the app, earned more than $49,000 in the past month from their action game, , by selling outfits and weapons players can use to make their characters look cooler and perform better."In private developer communities, there were people that were making stupid amounts of money and we thought we could do that," said Deppe, who's...WW…
Okta says it's buying security rival Auth0 for $6.5 billion, sending stock plunging
Key PointsIn this article, whose cloud software allows office workers to access all of their apps through a secure online service, said on Wednesday that it's spending $6.5 billion to .Okta's shares plunged about 13% in extended trading after the announcement. The all-stock deal equals about 21% of Okta's market cap as of Wednesday's close. Okta said it expects the transaction to close by the end of July.With more large businesses counting on cloud-based applications, Okta has seen its revenue surge since its 2017 IPO. The company said in its earnings statement on Wednesday that...…Key PointsIn this article, whose cloud software allows office workers to access all of their apps through a secure online service, said on Wednesday that it's spending $6.5 billion to .Okta's shares plunged about 13% in extended trading after the announcement. The all-stock deal equals about 21% of Okta's market cap as of Wednesday's close. Okta said it expects the transaction to close by the end of July.With more large businesses counting on cloud-based applications, Okta has seen its revenue surge since its 2017 IPO. The company said in its earnings statement on Wednesday that...WW…
SPACs used to be a joke in Silicon Valley — now they're going mainstream
Key PointsIn this article of Battery Ventures says that "SPAC" used to be a "bad four-letter word" in Silicon Valley.Now, the board of every high-profile start-up is discussing special purpose acquisition companies as a legitimate way to go public, according to of Norwest Venture Partners.In the eyes of Lux Capital co-founder , SPACs are "stealing from the 2021 IPO calendar.""We have encouraged our highest-quality companies to seriously consider this," said Hebert, whose firm raised its own in October and is looking for a target. "The vast majority of companies looking at doing...…Key PointsIn this article of Battery Ventures says that "SPAC" used to be a "bad four-letter word" in Silicon Valley.Now, the board of every high-profile start-up is discussing special purpose acquisition companies as a legitimate way to go public, according to of Norwest Venture Partners.In the eyes of Lux Capital co-founder , SPACs are "stealing from the 2021 IPO calendar.""We have encouraged our highest-quality companies to seriously consider this," said Hebert, whose firm raised its own in October and is looking for a target. "The vast majority of companies looking at doing...WW…
These Airbnb hosts earned more than $15,000 on Thursday after the company let them buy IPO shares
Key PointsSince starting as an host in 2016, Travis Schurr has become a mainstay on the site, listing more than 20 houses in the Las Vegas area. He began when one of the properties in his didn't sell, so he turned it into a short-term rental.Now, Schurr and his wife, Janie, are among Airbnb hosts making money from a huge first-day pop in the company's IPO. In its public debut this week, Airbnb up to 3.5 million non-voting shares for hosts, accounting for as much as 7% of the total offering.Schurr, 45, said he's never been able to buy into an IPO before and called the decision a "no-brainer"...…Key PointsSince starting as an host in 2016, Travis Schurr has become a mainstay on the site, listing more than 20 houses in the Las Vegas area. He began when one of the properties in his didn't sell, so he turned it into a short-term rental.Now, Schurr and his wife, Janie, are among Airbnb hosts making money from a huge first-day pop in the company's IPO. In its public debut this week, Airbnb up to 3.5 million non-voting shares for hosts, accounting for as much as 7% of the total offering.Schurr, 45, said he's never been able to buy into an IPO before and called the decision a "no-brainer"...WW…
DoorDash sells shares at $102 in IPO, pricing above range
Key PointsDoorDash prices IPO at $102: SourcesDoorDash, the food delivery provider that's seen a surge in demand during the coronavirus pandemic, sold shares in its IPO at $102 a piece, pricing above its range, according to people familiar with the matter.The offering on Tuesday values the company at $32.4 billion, based on common stock outstanding and $38.7 billion on a fully-diluted basis. The company it expected to sell shares at between $90 and $95. The sources asked not to be named because the pricing is still confidential.DoorDash is the first IPO in a that includes the expected debut...…Key PointsDoorDash prices IPO at $102: SourcesDoorDash, the food delivery provider that's seen a surge in demand during the coronavirus pandemic, sold shares in its IPO at $102 a piece, pricing above its range, according to people familiar with the matter.The offering on Tuesday values the company at $32.4 billion, based on common stock outstanding and $38.7 billion on a fully-diluted basis. The company it expected to sell shares at between $90 and $95. The sources asked not to be named because the pricing is still confidential.DoorDash is the first IPO in a that includes the expected debut...WW…
Tesla CEO Elon Musk has told friends and associates he plans to move to Texas
Key PointsElon Musk tells close friends he plans to move to TexasTesla CEO put his California houses on the market this year while he was sparring with state lawmakers over Covid-19 restrictions. He's simultaneously been expanding operations in Texas and cozying up to Republican Gov. Greg Abbott.Now, several of his close friends and associates say that Musk has told them he's planning to move to the Lone Star State. The people with knowledge of his plans asked not to be named because their conversations were private.Musk, the world's second-wealthiest person behind , is in Texas frequently...…Key PointsElon Musk tells close friends he plans to move to TexasTesla CEO put his California houses on the market this year while he was sparring with state lawmakers over Covid-19 restrictions. He's simultaneously been expanding operations in Texas and cozying up to Republican Gov. Greg Abbott.Now, several of his close friends and associates say that Musk has told them he's planning to move to the Lone Star State. The people with knowledge of his plans asked not to be named because their conversations were private.Musk, the world's second-wealthiest person behind , is in Texas frequently...WW…
Amazon to buy self-driving technology company Zoox
Key PointsIn this article has just taken its boldest step yet into self-driving vehicles, acquiring six-year-old start-up Zoox, .Amazon said the deal will help bring Zoox's "vision of autonomous ride-hailing to reality." Zoox will continue to operate as a standalone business within Amazon, with CEO Aicha Evans and Jesse Levinson, the company's co-founder and CTO, continuing to lead the team, Amazon said. Terms of the deal weren't disclosed, but the previously reported that Amazon would pay more than $1.2 billion to acquire Zoox. An Amazon spokesperson declined to...…Key PointsIn this article has just taken its boldest step yet into self-driving vehicles, acquiring six-year-old start-up Zoox, .Amazon said the deal will help bring Zoox's "vision of autonomous ride-hailing to reality." Zoox will continue to operate as a standalone business within Amazon, with CEO Aicha Evans and Jesse Levinson, the company's co-founder and CTO, continuing to lead the team, Amazon said. Terms of the deal weren't disclosed, but the previously reported that Amazon would pay more than $1.2 billion to acquire Zoox. An Amazon spokesperson declined to...WW…