Tag Archives: billion

Lessons from Amazon and Google helped build this $1.5 billion start-up

Lessons from Amazon and Google helped build this $1.5 billion start-up

Faisal Masud knows what it takes to make a multibillion-dollar company thrive. The 49-year-old spent more than two decades working his way up the executive ranks at Amazon, Google, eBay and Staples. Now, he’s trying to implement lessons from those successful firms as the CEO of Fabric, a Seattle-based e-commerce start-up that launched in 2016 and is valued at $1.5 billion. (The company stylizes its name as “fabric,” to avoid confusion with online insurance company Fabric Technologies.) Masud… Source link

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Google Chrome 101 security warning for 3.2 billion users–update now

Google Chrome 101 security warning for 3.2 billion users–update now

May 11 Update: This post was originally published on May 10 I spoke too soon when I reported yesterday that Google had confirmed a relatively rare update just for Android users of the Chrome browser. Windows, Linux, and Mac users can no longer breathe easy and instead should now also be checking that their Chrome browsers are updated as soon as possible. Why the change? Because Google has now confirmed that billions of users of the most popular web browser on the planet are affected by the… Source link

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Musk’s $44 billion Twitter buyout challenged in shareholder lawsuit

Musk’s $44 billion Twitter buyout challenged in shareholder lawsuit

By Jonathan Stempel (Reuters) – Elon Musk and Twitter Inc were sued on Friday by a Florida pension fund seeking to stop Musk from completing his $44 billion takeover of the social media company before 2025. In a proposed class action filed in Delaware Chancery Court, the Orlando Police Pension Fund said Delaware law forbade a quick merger because Musk had agreements with other big Twitter shareholders, including his financial adviser Morgan Stanley and Twitter founder Jack Dorsey, to support… Source link

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Shopify Plunges After Earnings Miss, $2.1 Billion Acquisition

Shopify Plunges After Earnings Miss, $2.1 Billion Acquisition

(Bloomberg) — Shopify Inc. dropped as much as 16% after it missed analysts’ estimates for revenue and profit and announced the largest acquisition in its history, a $2.1 billion deal for delivery startup Deliverr. Most Read from Bloomberg The Canadian e-commerce software firm earned 20 cents per share on an adjusted basis in the first quarter, short of analyst calls for 64 cents. Revenue rose 22% to $1.2 billion from a year earlier, but couldn’t match analyst expectations of $1.25… Source link

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Alibaba Recovers After Report on ‘Ma’ Briefly Erased $26 Billion

Alibaba Recovers After Report on ‘Ma’ Briefly Erased $26 Billion

(Bloomberg) — A brief bout of concern about the status of Alibaba Group Holding Ltd. co-founder Jack Ma triggered wild swings in shares of the e-commerce company on Tuesday, underscoring continued investor anxiety toward China’s tech sector after a year-long crackdown. Most Read from Bloomberg Alibaba plunged as much as 9.4% in Hong Kong, erasing about $26 billion of market value, after state broadcaster CCTV reported that authorities in the company’s home base of Hangzhou had imposed… Source link

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Biden administration announces $3.1 billion for America’s battery shortage

Biden administration announces $3.1 billion for America’s battery shortage

The White House announced $3.16 billion is on the way to help with the battery shortage in America. The money, which will come from funds in the recently enacted Bipartisan Infrastructure Law, was announced by the White House and the Department of Energy on Monday. Officials promise the money will help domestic manufacturers make more batteries in the U.S., iron out supply chain issues for components, and also mitigate some of the environmental impacts from battery manufacturing. “We need a… Source link

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End of Easy Money Brings a $410 Billion Global Financial Shock

End of Easy Money Brings a $410 Billion Global Financial Shock

(Bloomberg) — The global shift away from easy money is poised to accelerate as a pandemic bond-buying blitz by central banks swings into reverse, threatening another shock to the world’s economies and financial markets. Most Read from Bloomberg Bloomberg Economics estimates that policy makers in the Group of Seven countries will shrink their balance sheets by about $410 billion in the remainder of 2022. It’s a stark turnaround from last year, when they added $2.8 trillion — taking the… Source link

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Massive New Security Update For 3.2 Billion Google Chrome Users

Massive New Security Update For 3.2 Billion Google Chrome Users

It’s been a breathtakingly busy few weeks in the world of Google Chrome security and the pace doesn’t appear to be slowing down. Hot on the heels of two emergency fixes for in-the-wild exploits, and confirmation of a record number of Chromium zero-days across 2021, comes another truly massive security update for billions of Chrome users. How massive would that be? Well, newly confirmed stable channel update for desktop which takes Google Chrome to version 101.0.4951.41 for Windows, Mac and… Source link

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Google parent Alphabet’s Q1 profits dropped by more than $1 billion compared to 2021

Google parent Alphabet’s Q1 profits dropped by more than $1 billion compared to 2021

After a record-breaking 2021 with annual revenue of $257 billion — the first time it has gone over $200 billion for a year — Google’s parent company reports in a filing (pdf) that it has started off 2022 with Q1 revenue that’s up 23 percent from the same period last year, reaching $68 billion. However, with expenses up compared to 2021, its net profit actually dropped to $16.4 billion compared to last year’s $17.9 billion. In an accompanying statement, Google and Alphabet CEO… Source link

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Tesla Is on Pace to Lose $100 Billion in One Day

Tesla Is on Pace to Lose $100 Billion in One Day

(Bloomberg) — Tesla Inc. is on pace to wipe off over $100 billion from its valuation in a single session Tuesday with the stock down more than 11% on investors’ concern that Elon Musk may sell shares to complete his $44 billion takeover of Twitter Inc. Most Read from Bloomberg The electric-vehicle maker’s market capitalization is already down nearly $250 billion since April 4, when Musk disclosed that he increased his Twitter stake. That’s a drop of roughly 23%. The dollar value of… Source link

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