Silicon Valley Journals Planet, the satellite imagery company that went public in December 2021 through a special purpose acquisition company (SPAC), has decided to lay off 117 employees, constituting approximately 10% of its workforce. The move is aimed at focusing on driving revenue amid challenges posed by an ongoing downturn in the public markets. In a blog note, … Read more
Rapyd, the fintech-as-a-service startup that powers payment and financial services through APIs, is set to acquire a significant part of PayU, the payments group owned by Prosus, for $610 million. The move marks a significant step forward in Rapyd’s growth, fueled by a new financing round of $700 million. The acquisition will enable Rapyd to … Read more
Yellow, a once-dominant US trucking company, has ceased operations and laid off all 30,000 of its workers, marking a significant blow to the American shipping industry. The embattled firm intends to file for bankruptcy following unsuccessful attempts to reorganize and refinance its staggering debt, which amounts to over a billion dollars. The Teamsters union, representing … Read more
Kape Technologies, the cybersecurity firm behind well-known VPN services like ExpressVPN, has recently laid off approximately 180 employees, constituting about 12% of its workforce
Figure Technologies, the profitable lending business founded by Mike Cagney, recently underwent a staff reduction, cutting 20% of its workforce, according to a Bloomberg report.
The funds will be utilized to accelerate the development and sales of SensorUp’s innovative gas emissions management solution.
Walmart has completed the acquisition of Tiger Global’s remaining shares in Indian e-commerce major, Flipkart, for $1.4 billion. This move further solidifies Walmart’s control over Flipkart and boosts its stake in the company. With this transaction, Flipkart’s valuation is estimated to be around $35 billion. Tiger Global’s investment of $1.2 billion in Flipkart has resulted … Read more
Lindsay Corporation has completed the acquisition of FieldWise, LLC, a market leader in agricultural technology products, specializing in precision irrigation solutions on a subscription-based model. Based in Norfolk, Nebraska, FieldWise offers innovative solutions that allow agricultural producers to remotely monitor and intelligently control critical assets on their farms or ranches, with a focus on mechanized … Read more
Dynatrace, a leader in unified observability and security, has announced its plan to acquire Rookout, a provider of enterprise-ready and privacy-aware solutions that enable developers to troubleshoot and debug actively running code in Kubernetes-hosted cloud-native applications. The addition of Rookout to the Dynatrace platform aims to empower developers to accelerate innovation and delivery of flawless … Read more
Rio Tinto, a global mining company, has agreed to acquire PanAmerican Silver’s stake in Agua de la Falda S.A., a company with exploration tenements in Chile’s Atacama region, and to enter a joint venture with Codelco, the world’s largest copper producer and Chile’s state-owned mining company. The joint venture will explore and potentially develop Agua … Read more