Direct-to-consumer (D2C) clothing seller Everlane has reportedly been sold to fast-fashion-focused eCommerce giant Shein. The deal values Everlane at $100 million and was approved Saturday (May 16) by the Everlane board, according to a Sunday (May 17) report by journalist-owned-and-operated news site Puck. Everlane and...
OpenAI is preparing a potential future lawsuit against Apple due to dissatisfaction with the results of the companies’ two-year-old partnership, Bloomberg reported Thursday, citing unnamed sources. The artificial intelligence (AI) startup is also considering other options, such as sending a notice alleging breach of contract, according to the report. OpenAI...
Anthropic teamed with the Gates Foundation on a $200 million health-and-education-focused artificial intelligence project. The partnership will combine grant funding with technical support and usage credits for Anthropic’s Claude AI model to “extend the benefits of AI in areas where markets alone will not,” according...
Microsoft is reportedly looking to acquire startups to help it launch a new artificial intelligence model, Reuters reported Wednesday (May 13). The report characterized the move as preparation by the tech giant for a future separate from OpenAI. Microsoft had considered acquiring code-generation startup Cursor...
National Australia Bank (NAB) acquired FinTech company Banked to help more businesses receive payments faster and at a lower cost. Banked’s global technology platform uses a digital checkout and account-to-account payments to provide customers and businesses with a better experience and eliminate the need to...
Last year, Western Union announced plans to purchase money transfer service International Money Express (Intermex). That $500 million deal is now facing pushback from New York City Mayor Zohran Mamdami, who argues the acquisition would put financial pressure on the city’s immigrants. “Every month, thousands...
Visa is teaming with Zilch and Thredd to offer more flexible payment options for consumers in the United Kingdom, according to a Tuesday (May 12) news release. The Visa Flexible Credential helps issuers provide more choice via Visa’s worldwide network, bolstered by Zilch’s “customer-focused proposition”...
Online marketplace eBay has rebuffed GameStop’s $56 billion acquisition offer, calling the proposal “neither credible nor attractive.” The company announced Tuesday (May 12) that its board had reviewed the surprise takeover bid and decided to reject it. The announcement included the text of a letter the board had sent to...
PrimaryBid, a U.K. FinTech company that powers retail inclusion in global capital markets, has reportedly been acquired by SoFi Technologies. A message on PrimaryBid’s website dated Friday (May 8) says: “PrimaryBid’s technology has been acquired by SoFi Technologies Inc, a US-listed financial services company.” Reached...