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Self-driving vehicle company Aurora has been approved by California regulators to allow passengers rides in its fleet of driverless vehicles, according to reports. The California Public Utilities Commission ( CPUC ) granted the company an official authorization, showcased on the official Aurora website.
Overall cash consideration for the purchase of the company is $325 million, which is subject to “customary cash/debt and working capital adjustments,” of which $100 million has been deferred and will be paid on different dates over the 12 months to come. California-based Shoe Palace was started in 1993 by the Mersho family.
5) just as the company’s stock is soaring on the election victory of Proposition 22, a California referendum to exempt ridesharing companies from the state’s AB 5 gig worker law. Shares of Uber and other gig economy companies were rallying a day after California voters backed Prop 22. London Reprieve.
Legislation in California that aims to expand worker protections for so-called gig economy workers has led to a debate in the state’s freight services market and a lawsuit hoping to block the law. New legislation in California, set to take effect in January, was met with resistance from the California Trucking Association (CTA), Yahoo!
Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks, the firm reported. Last year, Square Capital did $2.3 Of that number, 60 percent of the borrowers had never before received a loan through Square Capital.
California has passed the California Consumer Privacy Act (CCPA), a sweeping law that forces companies to tell customers about the data they gather about them, and to allow customers to opt out of those practices. Even the attorney general is still figuring out specifics and probably won’t start enforcing the law until July.
In PYMNTS’ latest B2B venture capital roundup, which yielded $75 million in new funding, startups embraced distributed ledger technology for B2B payments and supply chain management, with 80 percent of total funding landing at blockchain companies. The $13 million raised for U.K. ClearMetal.
Investors backed a range of B2B FinTechs this week operating in areas including accounting, cross-border payments, virtual cards, expense management, cybersecurity and more. In total, more than $68 million in venture capital was announced — but that’s not counting the $130 million round for one U.K. Back Office. Buckzy Payments.
There are few more contentious issues currently than the status of workers operating on platform-type business models,” noted Brandeis University Heller School Dean David Weil in an interview with The New York Times in March. California Trucking Weighs In. State governments are grappling with this debate, too.
After news surfaced in May that Golden Gate Capital was considering a merger of Eddie Bauer and Pacific Sunwear of California , the private equity firm has created a new operating company comprised of the two retailers. Both brands have made great progress in the past 24 months and have generated strong performance.
It was a busy time for B2B venture capital this week, and while funding ranged across verticals from expense management to SaaS, there was a clear theme in investment rounds: high-tech data analytics. Based in Finland and with offices in California, MariaDB offers enterprises an open source database solution. Expense Management.
The round drew participation from Sequoia Capital, Tiger Global Management, General Atlantic, SoftBank Group, and Dragoneer Investment Group. California-based Chime collaborates with regional banks to create member-centric financial products, coining itself as a financial technology firm rather than a bank. Want the full post?
The grants are part of the San Jose, California-based worldwide online payments system’s $530 million pledge made earlier this year to strengthen minority communities and fight for economic equality and racial justice. PayPal Holdings Inc. provided $5 million in grants to support Black-owned businesses in the U.S.
Yesler operates a B2B eCommerce platform for the lumber and building materials industry, and investors at Tech Square Ventures have just led a $3.3 India's BharatPe, which operates a B2B payments platform, is currently in the process of building credit solutions for its business users that will include short-term capital loans.
Cybersecurity returned to the top of the B2B startup investment list as three companies in the enterprise security realm landed nearly half of the $246 million in B2B venture capital this week. Commerce Ventures, Flint Capital, Two Sigma Ventures, Synchrony and Sorenson Capital also participated, according to reports.
Community Development Financial Institution (CDFI) loan funds help to promote healthy communities by providing early-stage credit, capital, and financial services to small businesses, affordable housing and community facilities developers, community organizations, and other types of borrowers. communities where capital tends to be scarce.
As such, automakers are hitting the venture capital highway in droves. In the rideshare arena, InMotion , Jaguar Land Rover’s venture capital arm, invested $25 million in a $600 million funding round for Lyft in 2017. The automaker is also reportedly joining the Open Platform operated by Lyft for autonomous cars. Ridesharing.
This week, the two countries were the only markets that landed on the B2B venture capital board, with funding landing at SaaS, Big Data and procurement startups across a range of industries, from corporate social media management to marijuana procurement. PYMNTS breaks down the $24 million in venture capital raised. Honorable Mention.
In February, Revolut raised $500 million in a round led by Menlo Park, California-based TCV, one of the largest growth equity firms. Revolut is also backed by Index Ventures, the global venture capital firm with dual headquarters in San Francisco and London, and a half dozen others. the New York-based settlement platform.
It’s too soon to tell how coronavirus will impact the venture capital ecosystem, but some analysts are turning to the economic crisis of 2008 to make some educated guesses. Venture Partners, while existing backer Chicago Ventures and newcomer Soma Capital also participated, according to a press release.
The word “California” never fails to conjure up a mental image, though that will vary from person to person – some will think sun and sand, others will think movie stars, while still others will think internet startups. Well, if all of these California test drives go according to plan, anyway. The California Bot-Building Race.
Backers at Meritech Capital Partners and Lead Edge Capital led the Series D investment round, according to TechCrunch news, while Index Ventures and Workday also participated. This California-based startup has a particular cybersecurity focus: payments fraud. Cybersecurity. Duo Security. Blockchain. Digital Asset.
Payment operations software company Modern Treasury raised $38 million through an Altimeter Capital-led Series B funding round, according to a Tuesday (Jan. 12) announcement. The company says that over $18.5
In a venture capital slowdown, any investment round is a win. Whistic said it would use the investment to grow its staff and scale operations. California- and Israel-based Ermetic is another newly funded B2B startup focused on enterprise security. million in fresh investment for the industry. million fundraise.
However, it was a B2B software procurement platform that raised the most money — $55 million — in this week’s B2B venture capital roundup. Energy Innovation Capital and Chevron Technology Ventures led the funding, while R/GA Ventures and Macquarie Capital also came on board as new investors.
With more than $200 million in venture capital funding landing with B2B FinTechs this week, investors had their eyes set on a variety of pain points in corporate finance. Kobo360 operates a freight technology platform, connecting truckers with businesses that need shipping services across the region. Lendingkart.
We've cut expenses, suspended capital projects, furloughed our cast members while still paying benefits, and modified our operations to run as efficiently as possible, however, we simply cannot responsibly stay fully staffed while operating at such limited capacity," D'Amaro said, according to a memo to employees seen by CNN.
The company recently announced $10 million in venture capital funding, led by GV and Foundation Capital, while Amicus and Pierre Lamond also participated. Participants in the round also included 42K Investimentos, Chromo Invest and Capital Labs, as well as previous backers Yellow Ventures and Osher Tech.
The owner/operator of 85 shopping centers in California, Colorado and Illinois said shoppers are returning to recently reopened malls, but they’re not lingering, according to a CNBC report.
Next Insurance , the online insurance provider for small businesses, is negotiating a deal to raise new capital in a round that would value the FinTech startup at $2.25 Google’s parent company, is in talks to lead the $250 million funding round for the Palo Alto, California-based insurer, the news service reported.
As Target eyes boosting its same-day delivery services, the company is negotiating to purchase portions of California startup Deliv Inc., Due to a confluence of events over the past few months, Deliv will unfortunately be winding down our operations over the next 90 days,” she wrote. CNBC reported. Macy’s Inc., Mercato Inc.,
ZipLoan operates a digital platform to connect small businesses to loans, with a focus on kirana stores and micro-enterprises. Mexico’s Creze secured about $12 million in fresh funding that will bolster the company’s small business lending operations. Accounting automation startup CANDIS secured about $14.2
Minneapolis-based buy now, pay later (BNPL) firm Sezzle has raised $55 million in its latest capital round, according to a press release. Sezzle was also approved for a lending license by California’s Department of Business Oversight (DBO) in January.
Following the state’s new law allowing autonomous vehicles, Palo Alto, California-based Gatik was approved by the Arkansas Highway Commissioner to launch a commercial service with Walmart, Walmart said in a press release. . with California autonomous car startup company Udelv. said in a news release. . said in a news release. . “We
Vouch Insurance , which offers insurance to high-growth technology firms through an online platform, said last week that it has raised $45 million in a funding round, and has expanded its service into California. Many founders are operating their businesses, from day one, with the ambition of entering an international setting.
The owner/operator of 85 shopping centers in California, Colorado and Illinois said shoppers are returning to recently reopened malls, but they’re not lingering, according to a CNBC report.
Following the state’s new law allowing autonomous vehicles, Palo Alto, California-based Gatik was approved by the Arkansas Highway Commissioner to launch a commercial service with Walmart, Walmart said in a press release. . with California autonomous car startup company Udelv. said in a news release. . said in a news release. . “We
A California college student has filed a lawsuit against TikTok , accusing the viral video service of sending her personal data to its parent company in China, as well as creating an online profile for targeted advertising, without her consent. is instrumental to an eventual goal of taking the company public next year.
DoorDash, the country’s largest deliverer of restaurant meals, could be valued as high as $15 billion following a likely infusion of capital from existing investors. The interest among established buyers in growing food delivery operations is far more than a U.S. Uber Technology is reportedly offering $2.6 phenomenon.
The Libra Association has named James Emmett as managing director of Libra Networks, the association’s operating company subsidiary. Emmett previously was the top executive of HSBC Bank plc and Europe, where he was responsible for HSBC's UK Wholesale Bank and operations across Continental Europe, Sub-Saharan Africa and Bermuda.
On another note, Coinbase , which is based in California, has become a Japan Virtual Currency Exchange Association (JVCEA) second-class member, Coindesk reported. The company reportedly applied for an operating license in the country in the past. And another unsealed document indicates that the U.S.
With Tradeshift securing a nine-figured fundraise, the supply chain payments company was the undoubted leader of this week’s B2B venture capital fundraise. The series A round also saw participation from access ventures, Agaeti Venture Capital, Ahabe Group and Central Capital Ventura. Below, PYMNTS looks at how more than $292.5
True Religion was acquired for $824 million in 2013 by London-based capital investment firm TowerBrook Investment Partners, and ended up filing for bankruptcy in 2017. True Religion was founded in 2002 with a headquarters in Malibu Beach, California. True Religion tried to capitalize on that with its own brand of workout pants.
The cloud, artificial intelligence (AI) and robotics are all prevalent themes in this week’s venture capital breakdown, with startups working to overhaul entire processes for their enterprise customers, from logistics to workforce management. The firm said it will use the investment to focus on operational expansion.
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