Dennis Mutua

Robinhood Raises $2.1 Billion From Highly Anticipated IPO

Financial service provider and owner of Robinhood trading app Robinhood Markets Inc. (HOOD) raised $2.1 billion from its much anticipated initial public offering which took place this week. This much talked about IPO leaves the company with a market valuation of $31.8 billion. The company priced its shares at $38 per share in the IPO […]

Softbank Selling 45 Million Uber Shares

Japanese multinational company investing in technology, financial and energy sector Softbank Group Corp. (TYO: 9984) is looking forward to sell 45 million of its shares in Uber Technologies Inc. (UBER). This information was revealed by an insider source. The insider source who sought anonymity, says any buyer interested in these shares will have a 30-day […]

Flipkart Wants India’s Supreme Court to Halt Antitrust Probe

Walmart Inc. (WMT) owned online retailer Flipkart is asking India’s Supreme Court to stop the country’s antitrust body, the Competition Commission of India (CCI), from continuing with an ongoing probe into the company. Flipkart made this request through a 700 paged court filing in which the online retailer claims that the antitrust regulator asked sensitive […]

Spotify Records 20% Increase in Paid Subscribers in the Second Quarter

Audio streaming and media service provider Spotify Technology S.A. (SPOT) has published its quarterly reports for the second quarter ended June 30 in which it recorded a 20% in its paid subscription services. Citing the July 28 released results, the company beat Wall Street’s estimate for the second quarter of the year. Spotify reported revenue […]

Starbucks Exiting $2 Billion Joint Venture in South Korea

U.S based company operating chain of coffeehouses and roaster reserves Starbucks Cooperation (SBUX) has announced its exit from a joint venture in South Korea which is approximately valued around $2 billion. Satrbucks will be selling its stake in the joint venture to South Korea based largest online retailer E-Mart Inc. (KRX: 139480) and to Singapore […]

Reckitt Posts Mixed Results in the Second Quarter

London based producer of health, hygiene and nutrition products Reckitt Benckiser Group (LON: RKT) has released its results for the second quarter in which it registered declined sales in the quarter further warning of costs will hit margins. For the second quarter ended June 30, sales in the health business of the company which consists […]

General Motors and Cruise Sue Ford to Bar the Automaker From Using BlueCruise for its Autonomous Cars

United States based vehicle manufacturer General Motors Company (GM) together with its subsidiary Cruise robo-taxi have sued fellow auto manufacturer Ford Motor Company (F) seeking to refrain Ford from using ‘BlueCruise’ to market its self-driving vehicles. In the lawsuit, both GM and Cruise jointly argue that Ford will be infringing on GM’s Super Cruise trademark […]

Food-Tech Firm NotCo Raises $235 Million in Latest Financing Round

Food-tech company producing plant-based alternatives animal-based food products NotCo announced having raised $235 million in its recently concluded financing round. This financing round leaves the company with a market valuation of $1.5 billion. Notable personalities in the world of sports took part in the just concluded financing round among them include Roger Federer and Lewis […]

Robinhood Considering Offering United States Retirements Accounts

United States based financial service provider and stock brokerage company Robinhood Markets Inc. is considering introducing U.S retirement accounts. This was revealed by the company’s chief executive officer, Vlad Tenev, during the past weekend while on a webcast with users of the company’s mobile trading app. The company is set to have its initial public […]

Tencent Denied Exclusive Rights in Online Music by Chinese Regulator

Chinese multinational technology company Tencent Holding Ltd. (HKG: 0700) will be denied online music rights by China’s market regulator regulator, The State Administration of Market Regulation (SAMR). The regulator says it will ban Tencent from exclusive copyright agreement and slap the company with fines for unfair market practices in the online music market. Among the […]