Finance

Goldman Sachs Participating in Ant’s Giant IPO Dubbed ‘World’s Largest IPO’

America based investment bank Goldman Sachs Inc. (GS) becomes the latest entry in the list of investment banks interested in participating in upcoming initial public offering of Chinese financial technology company Ant Group. Reliable insider sources are valuing the IPO at $30 billion making it the world’s ever largest IPO. Additionally the sources said the […]

Skillz to Get Listed Through Merger With Flying Eagle

Game developer Skillz Inc. is set to go public on New York Stock Exchange through a merger deal with a blank check company Flying Eagle Acquisition Corp. (FEAC) A blank check company is also known as a special purpose acquisition company (SPAC) and it uses cash fetched from its initial public offering to purchase another […]

Bumble Eyeing a $6 Billion Initial Public Offering

Virtue dating app Bumble has announced that it’s eyeing an initial public offering, sources involved with the matter revealed the company is looking forward to have a $6 billion to $8 billion market valuation after the IPO. According to the source, this Bumble is aiming to conduct its IPO during the first quarter next year […]

Zoom Raises its Annual Targets After Beating Quarterly Estimates

Technology company Zoom Video Communications Inc. (ZM) has increased its annual revenue and sales targets after comfortably beating analysts’ estimates in the second quarter of the year. The company raised its target for annual revenue by 30%. Zoom is now looking forward for revenue between $2.37 billion to $2.39 billion in the fiscal year 2021. […]

Xpeng Scales Up Its U.S IPO Size to $1.5 Billion

China based electric car manufacturer Xpeng (XPEV) has scaled up its initial public offering size in the U.S to around $1.49 billion. This has been revealed by insider sources who declined being revealed. Initially the company had targeted to raise $1.1 billion in the IPO. The company had planned to sell 85 million American Depository […]

J.Crew Expecting to Come Out of Bankruptcy in September

Multi-brand apparel and accessory retailer J.Crew Group says that it expects to come out of bankruptcy in the upcoming month. The company said a court accepted its debt restructuring plan hence it’s looking forward to emerge from chapter 11 bankruptcy in the beginning of next month. In the restructuring proposal approved by a Virginia federal […]

Nvidia Soar Above Analysts’ Estimates in Q2 Results

Nvidia Corp. (NVIDA) announced its results for the second quarter of the year in which the California based company registered better results than what analysts were expecting. This made it the second consecutive quarter Nvidia was outperforming analysts’ estimates. For the second quarter ending June 26, Nvidia generated revenue of $3.87 billion beating the analysts’ […]

Oracle Expresses Interest in Purchasing TikTok’s U.S Operations

The race to purchase Chinese short video sharing app TikTok seems to be getting stiffer with each passing day. Several American companies and interested parties have expressed their interest to acquire the company’s operations in the United States. Notable companies like Microsoft Corp (MSFT) and Twitter Inc. (TWTR) have expressed interests of buying the company. […]

Vroom Posts a Bigger Than Expected Share Loss in Q2

Online car retailer and e-commerce company Vroom Inc. (VRM) posted its quarterly reports for the second quarter of the year in which the company posted huge share loss than it was expecting. For the second quarter ending June 30, Vroom posted a net loss of 34 cents per share against the 7 cents per share […]

Lyft’s Revenue Drops by 61% in the Second Quarter

North America based ride hailing firm Lyft Inc. (LYFT) announced that its revenue for the second quarter of the year dropped sharply by 61% due to travelling restrictions and stay at home orders put in place to curb spread of the deadly virus. The company says number of active riders declined by 60% to 8.69 […]