Money

Hut group to Purchase Dermstore for $350 Million

Britain based online retailer The Hut Group (LON: THG) has announced its upcoming plan to acquire fellow online retailer Dermstore from its current owner Target Corp. (TGT) in a deal worth $350 million. Hut will be using this acquisition to increase the influence of its beauty products across United States. The company owns several retail […]

Spinning Eagle To Go Public in a $1.5 Billion IPO

Blank Check Company Spinning Eagle Acquisition Corp is planning to go public in a $1.5 billion initial public offering. The company founded by Hollywood film producer Jeff Sagansky has already filed for its IPO with the regulators. Sagansky is a former president of CBS Entertainment. Sagansky has also invested in other companies including gaming company […]

Ouster Aiming to go Public in a $1.9 Billion Deal

U.S based startup which manufactures lidar sensors for self-driving cars and smart cities Ouster Inc. will be tapping into a merger deal with a blank-check acquisition company to go public. This was revealed by involved sources which said the deal will give Ouster a market valuation of $1.9 billion. The Special Purpose Acquisition Company (SPAC) […]

ByteDance to Purchase Stake in Mobile Games Company CMGE

TikTok owner ByteDance is engaging mobile games company CMGE Technology Group Ltd (HKG: 0302) with an aim of acquiring stake in the China based games publisher. This information was revealed by insiders who claimed ByteDance want invest in CMGE as a way of diversifying its growth. The gaming industry has been experiencing a boom during […]

Walmart Partners With TikTok to Sell Items During a Livestream

Multinational retailer Walmart Inc. (WMT) announced having entered an agreement with Chinese short video sharing app Tiktok giving Walmart an opportunity to sell items during a livestream by creators featuring fashion merchandise from Walmart. Currently TikTok records an average of 100 million United States users per month. These users will now be able to buy […]

Reddit to Purchase TikTok’s Competitor Dubsmash

Dubsmash, a short video sharing app which offers services similar to what TikTok offers is set to be acquired by divergent social network company Reddit. Reddit announced the upcoming acquisition however it failed reveal any financial terms of the deal. Nonetheless, Reddit’s spokeswoman said payment of the deal will be a blend of cash and […]

Whitecap Resources to Acquire TORC Oil in a $430.83 Million Deal

Canada based crude petroleum and natural gas extractor Whitecap Resource Inc. (TSE: WCP) announced having agreed to purchase competitor TORC Oil & Gas Ltd (TSE: TOG) n a deal worth C$552 million ($430.81 million). Whitecap said the deal will be an all-stock one. Canada has the third largest oil reserves and it’s fourth largest oil […]

Sinovac Receives $15 Million to Propel Production of COVID-19 Vaccine

China based Biotechnology Company Sinovac Biotech (SVA) confirmed having received a $15 million funding from a local company to increase the production capacity of its COVID-19 vaccine known as ‘CoronaVac’. Following some positive results from phase 2 clinical trials Sinovac has been expanding supply deals and trials with more countries getting on board for the […]

Amazon to Reward U.S Front Line Workers With $500 Million Holiday Bonuses

World’s largest e-commerce company Amazon Inc. (AMZN) will be rewarding its United States based front line workers working during the holiday season during the pandemic with one time holiday bonuses totaling up to $500 million. Citing a blog post from the company’s website, full time employees of the company working in the United States From […]

China Construction Bank Drops a $3 Billion Blockchain Tech Bond

The China Construction Bank Corp. (CCB) has withdrawn from its plan of issuing a $3 billion blockchain technology bond. The bond was to be listed on Malaysian cryptocurrency-focused exchange. Malaysian exchanged announced the withdrawal saying they undertook the measure after receiving a withdrawal request from China Construction Bank. According to earlier plans the bond was […]