Spirit Shareholders to Decide Fate of Frontier Offer as JetBlue Looms

Spirit Shareholders to Decide Fate of Frontier Offer as JetBlue Looms

Spirit Airlines Inc. shareholders are deciding the fate of the budget carrier Wednesday, voting whether to merge with rival Frontier Airlines as JetBlue Airways Corp. tries to wrest Spirit away. After being delayed four times, the vote is proceeding Wednesday. With a higher offer from JetBlue on the table, some Spirit investors, including some of … Read more

The Speedy Downfall of Rapid Delivery Startups Like Jokr

The Speedy Downfall of Rapid Delivery Startups Like Jokr

It took only eight months for Jokr, the superfast delivery startup, to become a unicorn, and just six months more for its strategy to start coming apart. Jokr had plastered New York City with splashy ads promising to deliver groceries within 15 minutes — For free! With no minimum order! —And raised a total of … Read more

Spirit Stock Falls After Frontier Sweetens Its Takeover Bid

Spirit Stock Falls After Frontier Sweetens Its Takeover Bid

Shares of Spirit Airlines fell in premarket trading Monday after the Florida-based discount airline received a sweetened offer from rival Frontier Group Holdings Frontier (ticker: ULCC) bumped its offer for Spirit, adding an extra $ 2 per share in cash. It also said it would prepay $ 2.22 per share, and raised its break-up fee … Read more

PE & VC exits declined by 56% in 2022 due to market uncertainty

PE & VC exits declined by 56% in 2022 due to market uncertainty

Start-up and IT exits among private equity (PE) and venture capital (VC) investors in 2022 have slowed down significantly due to bearish sentiment in public markets coupled with the younger portfolios of top funds witnessing lower exits compared to pre-2021 stages. According to a report by management consulting firm Bain & Company, this year’s exit … Read more

This VC Is Betting Big on Flying Taxis and Scooters

This VC Is Betting Big on Flying Taxis and Scooters

Adam Grosser wants to improve transportationof people, goods, and energy. That’s why the chairman and managing partner of the early-stage venture capital fund UP Partners is investing in several mobility projects. They include Beta Technologies’ electric vertical-takeoff-and-landing (eVTOL) urban transportation aircraft, Quincus’s operating system for supply-chain and logistics providers, and Teleo’s teleoperation platform for mining, … Read more

Bolt Loaned Employees Thousands to Buy Stock — Then Laid Them Off

Bolt Loaned Employees Thousands to Buy Stock — Then Laid Them Off

In late May, employees of the fintech startup Bolt saw a message from their CEO on the company’s Slack. It warned them that “restructuring” was coming, and they should look out for a calendar invitation: One group would join a meeting with human resources, meaning they were being laid off, while another would go to … Read more

Binance raises $ 500 million fund to invest in Web3 startups

Binance raises $ 500 million fund to invest in Web3 startups

Binance is the world’s largest cryptocurrency exchange, handling $ 490 billion of spot trading volumes in March 2022. Akio Kon | Bloomberg | Getty Images Binance, the world’s largest cryptocurrency exchange, is launching its own venture capital fund. The company’s venture arm, Binance Labs, said Wednesday it has raised $ 500 million for its debut … Read more

Sequoia coaches start-ups to cut costs or face a ‘death spiral’

Sequoia coaches start-ups to cut costs or face a ‘death spiral’

One of Silicon Valley’s most successful venture capital firms does not see the economy bouncing back anytime soon and is warning portfolio companies to tighten their belts in the meantime. In a 52-page presentation seen by CNBC, the Sequoia lays out a litany of risks making it harder for founders to raise money and operate. … Read more