It’s no secret that 2022 has been a tough year for cryptocurrencies, and companies operating in the sector have struggled to cope with the crash of the crypto market. Coinbase, the crypto…
Amazon Bolsters Smart Home Offerings with $1.7 billion iRobot Deal
Amazon has agreed to buy iRobot Corp., the company behind the Roomba robotic vacuum, in a deal worth $1.7 billion. Roomba will be added to Amazon’s already lengthy list of smart home…
Post-Pandemic Travel Boosts Uber and Lyft
Ride-hailing giants Uber and Lyft both reported promising Q2 results this week, as they took advantage of a post-Covid boom in travel. Uber posted its first ever cash-flow positive quarter. The Silicon…
Robinhood to Cut 23% of Workforce, Revenue falls 44%
Online brokerage Robinhood announced plans to lay off 23% of its workforce this week, amid falling revenues. It’s been a miserable week for the company, as its second quarter earnings report revealed…
SEC Swoops on Massive Cryptocurrency Pyramid Scheme
The US Securities and Exchange Commission (SEC) announced it has charged 11 people for their role in an alleged Ponzi scheme called Forsage, which defrauded retail investors for more than $300 million. …
Meta Suffers First Ever Year-on-Year Revenue Decline
Meta, the parent company of Facebook, WhatsApp and Instagram, posted its first yearly decline in revenue in the firm’s history this week, as advertising sales fell in the three months to July. …
Tesla Sells Off Majority of Bitcoin Holdings
Electric car maker Tesla has ditched 75% of its holdings in Bitcoin, after the cryptocurrency fell in value by more than 50% this year. In February last year Tesla boss Elon Musk…
Esports Giant FaZe Clan Goes Public Via SPAC
Esports company FaZe Clan has completed a SPAC merger deal worth $725 million, and began trading on the Nasdaq on Wednesday. FaZe Clan is an online media and digital entertainment company, looking…
Stripe Lowers Internal Valuation as Private Startups Re-Evaluate Worth
The payments startup Stripe has lowered its internal valuation by 28%, according to reports, becoming the latest private company to readjust amid tech sell-offs on the public markets. Last year investors valued…
Climate Tech Funds Emerge at Record Pace, but Is It Too Late?
Global investors have already closed more climate-technology related funds in 2021 than the previous five years combined, according to PitchBook data. But the latest scientific report from the U.N. has raised fears…