Theranos, the struggling blood testing company based in Silicon Valley, has landed a $100 million loan from Fortress Investment Group. Citing an email sent to shareholders by Elizabeth Holmes, the founder and chief executive officer of Theranos, The Wall Street Journal reported the loan is...
Need more evidence that the cryptocurrency craze is taking a page from the dotcom boom of the early 1990’s? Check out Long Island Iced Tea Corp., which saw its stock surge Thursday (Dec. 21) after changing its name to Long Blockchain Corp. According to Reuters,...
JPMorgan Chase is launching a lower-cost online investment management tool this week: the robo-adviser. According to news from Reuters, the company plans to offer the service to some clients next March and on a wide scale in the middle of the year. The required disclosures were...
Kasisto, the creator of KAI, the conversational artificial intelligence (AI) platform for finance, announced news on Wednesday (Dec. 13) that it raised $17 million in a Series B round of fundraising. In a press release, Kasisto said Oak HC/FT led the fundraising round, with participation...
Simility, the fraud detection and risk management startup, has landed $17.5 million in funding. In a company blog post, Chief Executive Officer and Co-Founder of Simility Rahul Pangam said the funding will be used to maintain the “explosive” growth the company has been enjoying. The...
Uber employees are taking advantage of the rare opportunity to convert their paper shares of Uber into cold, hard cash as SoftBank, the Japanese technology giant, buys 17 percent of the ride-hailing app’s outstanding shares. SoftBank is paying $33 a share, which represents a 30...
India’s biggest online supermarket Bigbasket is about to get even bigger. Chinese eCommerce giant Alibaba Group Holding Ltd. has said it will invest $200 million in the company, leading a $280 million funding round and garnering Alibaba a 25 percent stake in the startup. That...
Leading digital money transfer service WorldRemit has raised $40 million to drive its next phase of growth, bringing its total amount raised to $220 million. According to Finextra, the Series C round is led by LeapFrog Investments, with significant participation from existing investors Accel and...
Ofo, the Chinese bicycle sharing company, has raised $1 billion or more from Alibaba, the Chinese eCommerce giant, and other investors. According to a report in Financial Times, citing two sources familiar with the deal, the investment brings the company’s value to $3 billion, which...
