Finance

Logitech Reports 300% Increase in Quarterly Profit Increases Annual Estimates

Swiss-American maker of computer peripherals and software Logitech International SA (SWX: LOGN) reported its quarterly results for the third quarter ending December 31 in which the company recorded a 300% profit increase in the quarter. The company is attributing this good performance to the pandemic which created a shit to people working and holding meeting […]

Sennder Gains $1 Billion Valuation After Raising $160 Million from Investors

Europe based digital road freight startup Sennder announced having raised $160 million from the last investing round it held with its investors on January 14. This leaves the company with a valuation of over $1 billion. This latest financing round was backed by HV Capital, Lakestar, Scania and Accel. Following this round, Sennder has now […]

Twitter to Purchase Social Podcast App Breaker

Social podcasting app Breaker announced that it will be acquired by widely used social network Twitter Inc. (TWTR). Following the acquisition breaker will shut down its website and app in the coming week. “The Breaker team is joining Twitter! We’re excited to build the future of public conversations. Breaker will be shutting down on Jan […]

Mytheresa’s Parent Company Files for U.S IPO

The parent company of German based online luxury retailer Mytheresa Group known as MYT Netherlands Parent B.V has filed for an initial public offering to be listed in United States financial markets. Mytheresa sells clothes from world leading fashion brands including Burberry, Prada and Gucci. In the third quarter results for the period ending September […]

ContextLogic Raises $1.1 Billion From IPO

ContextLogic Inc. the developer of leading mobile shopping app Wish raised $1.1 billion from its initial public offering held on December 15. In the IPO the company sold its shares at $24 a piece which was the highest price according to the targeted range of $22 and $24 per share issued by the company earlier. […]

Biosimulation Company Certara Raises $630 Million in its IPO

U.S based biosimulation company Certara Inc. held its initial public offering on December 12 raising around $630 million from the offering. The drug development consultancy company priced its shares at $23 per share in the IPO. Both the IPO price and size was greater than what the company had announced, earlier the company had issued […]

Northrop Selling its Federal IT and Mission Support Business for $3.4 Billion

United States based aerospace and defense company Northrop Grumman Corp. (NOC) will be selling its federal IT and mission support services business to private equity firm Veritas Capital in a deal worth $3.4 billion. Northrop which is among world’s largest producers of weapons and provider of military technology said the deal will be an all […]

Uber Selling its Autonomous Driving Unit for $4 Billion

Ride hailing company Uber Technologies Inc. (UBER) will be selling its self-driving unit Uber Advanced Technologies Group (ATG) to autonomous driving startup company Aurora for $4 billion. Uber believes this deal is good for the company since it will help it achieve its profitability goals. The company’s CEO Dara Khosrowshahi says this move will propel […]

Snowflake Losses Widens in Third Quarter Results

Cloud-based data-warehousing company Snowflake Inc. (SNOW) reported its third quarter results further generating a bigger loss compared to the previous quarter. For the third quarter ending October 31, the company reported a net loss of $168.9 million. This loss is far much wider compared to the $88.1 million net loss the company reported at a […]

China Okays Tesla to Start Selling Shanghai-Manufactured Model Y

Leading electric vehicle manufacturer Tesla Inc. (TSLA) received a go ahead from the government of China to start selling locally made Model Y sport utility vehicle in the country. In the beginning of the month the company submitted its application to start selling Model Y SUV made in its Shanghai gigafactory in China. On Nov […]