A $3.6B Indian jewelry chain tripled in size in 6 years — and lost it all in the last few months

PC Jeweller lost $2.8B in a few months -- and, according to them, they have no idea why it happened. What’s really going on here?

Lindsey Quinn • May 8, 2018

2 out of 3 of Spotify’s major record label shareholders cash in their stock for over $1B

Last week, Sony, who easily held the biggest stake in Spotify, sold about half its shares for close to $750m. Then, yesterday, Warner Music Group followed suit.

Wes Schlagenhauf • May 8, 2018

Another reason to be crabby on Monday: Maryland’s shellfish industry going belly-up

The Chesapeake Bay produces 50% of US blue crab, but a crippling labor shortage is leaving almost half of Maryland’s crab businesses high and dry.

Conor Grant • May 7, 2018

Toms shoes is struggling despite Wall Street being its biggest champion

Toms shoes didn’t have enough foresight in the early days of pioneering their “get one, give one” strategy, and now, they’re paying the price.

Wes Schlagenhauf • May 7, 2018

Buffett’s magic touch sends Apple stock to its highest value in history

After Warren Buffett announced a 75m share investment in Apple in the first quarter, the company’s stock hit an all-time high.

Conor Grant • May 7, 2018

Walmart outbids Amazon for $15B majority stake in India’s Flipkart

Walmart wins the battle against Amazon for a $15B majority stake in India’s fastest-growing startup, Flipkart.

Wes Schlagenhauf • May 7, 2018

Jumping into the grocery aisle, Blue Apron surprises everyone and stays in business

Blue Apron, the grizzled veteran of the meal-kit delivery space, reported better-than-expected earnings, sending shares up 9% yesterday. To be clear, the chain didn’t make more than it expected, it just lost less. But for the dirty Apron, whose value was in free fall just months ago, this stability is a win — even if […]

Conor Grant • May 4, 2018

Global gold demand hits a 10-year low — here’s what that means

  Demand for gold dropped 7% in Q1 this year to post its weakest quarter since the ‘08 financial crisis, driven, according to MarketWatch, by lower demand for gold bars and gold-backed funds. What does this mean? And why do people decide to keep their money in gold in the first place? People just aren’t […]

Lindsey Quinn • May 4, 2018

Smartphone maker Xiaomi readies for $100B IPO

The Chinese smartphone maker (pronounced she-yow-mee) has filed for an initial public offering in Hong Kong, and expects to raise at least $10B, valuing them at $100B and making it the world’s largest IPO since Alibaba back in 2014. The smartphone maker had a big 2017. According to WSJ, Xiaomi’s revenue rose 67% to $18B, […]

Wes Schlagenhauf • May 4, 2018

Telegram calls off their ICO after raising $1.7B 

Encrypted messaging app Telegram canceled its widely hyped initial coin offering after drumming up $1.7B in investment, reports the Wall Street Journal. The Russia-based startup initially planned to use their ICO money to fund a project called the Telegram Open Network (TON), which they claimed will usher in a 3rd generation of blockchain — but […]

Conor Grant • May 4, 2018

Hobby Lobby returns the 3.8k artifacts it ‘accidentally’ stole from Iraq

Hobby Lobby, the Bible-loving craft store that paid a $3m fine for smuggling antique artifacts into the US, is finally returning 3,800 relics to their cultural homeland of Iraq.

Conor Grant • May 3, 2018

AI Superlatives: Here’s what’s happening in the global race for AI supremacy

China and the US are still ‘most likely to succeed’ in the global AI race -- but there are a couple of “late bloomers” rising in the ranks.

Wes Schlagenhauf • May 3, 2018

Birchbox invaded by Vikings, leaving investors empty-handed

Birchbox investor Viking Global will buy out its other existing VC investors with a new, $15m investment in the subscription beauty box.

Lindsey Quinn • May 3, 2018

Nikola v. Tesla: Musk’s company sued for $2B by hydrogen truck startup Nikola motors

Hydrogen-electric truck company Nikola Motors is suing Tesla for $2B, claiming their new truck causes “confusion in the market.”

Wes Schlagenhauf • May 3, 2018

This is the diet vodka for you if you want to have your booze and diet too

As skinny-conscious consumers continue to opt for diet-friendly alternatives, even traditional liquor companies are rolling out low-calorie options.

Conor Grant • May 2, 2018

Pandora jacked up ads for 35m of its users, and old people paid to make them just stop

Research shows that the success of ad-based and subscription-based models varies by user age -- and that young people are a lot less susceptible to ad bullying.

Conor Grant • May 2, 2018

Levi’s is back on top after a strong 2017, and a big Q1

Levi’s put up their biggest year in a decade and boosted sales 22% in Q1 2018. And they’ve come along way from their early aughts slump.

Wes Schlagenhauf • May 2, 2018

Zuckerberg wants to help us find love: Day 1 of Facebook’s annual developer conference

Facebook kicked off its annual, 2-day developer conference, F8, yesterday. Here’s what we know after Day 1.

Lindsey Quinn • May 2, 2018

A high-tech anti-poaching alarm system takes aim at the $23B poaching industry

An unlikely transatlantic tech partnership is making progress in the battle against rhino poachers with a high-tech alarm system that could serve as a model for conservationists.

Conor Grant • May 1, 2018

Virgin Hyperloop One joins forces with DP World to bring cargo shipping to India

Virgin Hyperloop one has announced a joint venture with one of its investors that will specialize in Mach 1 shipping across India.

Wes Schlagenhauf • May 1, 2018

WhatsApp founder and CEO steps down to collect Porsches and play Frisbee

WhatsApp founder, Jan Koum, is parting ways with Facebook. Publicly, he says it’s time “to move on.” But according to insiders, tensions have been bubbling below the surface…

Lindsey Quinn • May 1, 2018

Big mergin’: Wallets are out and mergers are happening, people

Phones, fuel, and timeshares: Major M&As this week, from T-Mobile and Sprint, to Marathon Petroleum and Andeavor.

Wes Schlagenhauf • May 1, 2018

Wall Street sees the ’Sign: DocuSign stock jumps 38% in first day of trading post-IPO 

Cloud-based esignature company DocuSign raised $629m in their IPO last Thursday at $29 a share -- and their stock climbed to nearly $40 in their first day of trading on Friday.

Lindsey Quinn • April 30, 2018

Forget what your English teacher told you — trade jobs pay pretty darn well

Emphasis on the importance of a 4-year degree causes young workers to go into debt for a bachelor’s degree -- instead of taking high-paying trade jobs that desperately need workers.

Conor Grant • April 30, 2018

BlaBlaCar acquires carpooling startup as rideshare companies consolidate

French ride-share giant acquires another carpooling service as it looks to compete with the other ride-sharing glam-brands.

Wes Schlagenhauf • April 30, 2018

Power to the Peep-le: Union workers claim a sweet win over old man ’mallow

Marshmallow makers at a Pennsylvania Peeps factory won a court decision that will force their company Just Born, to honor their pension promises (while they still can).

Conor Grant • April 30, 2018

MoviePass reduces their 1-movie-a-day subscription plan to 4 movies per month

Looks like the other shoe just dropped… MoviePass reduces new subscribers to only 4 movies a month after losing money on every single new subscriber.

Wes Schlagenhauf • April 27, 2018

Nintendo had a killer fiscal year as profits continue to fly from Switch sales

Nintendo had a monstrous 2017 and it’s all thanks to the Nintendo Switch -- and a little nostalgia.

Wes Schlagenhauf • April 27, 2018

The truck driver shortage impacts everything from food prices to stock market performance 

As reported by USA Today, there’s a shortage of 51k truck drivers nationwide — which has driven shipping costs up by 6-10%, an increase that consumers will soon have to pay for. As baby boomers retire and young people fail to take their spots at the wheel, the shortage is expected to grow to more […]

Conor Grant • April 27, 2018

Amazon unveils Alexa for kids… and there’s a lot at stake for them to get it right

On May 9, Amazon will release the Echo Dot Kids Edition, complete with kid-friendly responses, and rewards for good manners... and we have some concerns.

Lindsey Quinn • April 27, 2018

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