In today’s top news, Apple countersued Epic Games for punitive damages, and telemedicine company Amwell priced its initial public offering (IPO). Plus, Grab is in talks with potential investors to raise up to $500 million.
After Epic Games asked a California judge to reinstate Fornite in Apple’s devices, Apple has filed a counter-lawsuit accusing Epic Games of greed and deceit in the fight over the iPhone maker’s App store.
Amwell, the Boston-based telemedicine company, is planning to go public as the demand for virtual healthcare offerings skyrockets amid the coronavirus pandemic. Amwell plans to raise between $490 million and $560 million.
Grab Holdings Inc., the $14 billion global ride-hailing company based in Singapore, is seeking to raise as much as $500 million to boost its financial services division. Potential investors include Hong Kong-based AIA Group Limited, the publicly-traded life insurance group and Prudential PLC, the British global life insurance and financial services company.
Swedish FinTech Klarna is aiming to raise $500 million as it looks to fuel the expansion of its growing digital payments and online shopping business in the U.S. market. The new round of funding values Klarna at a hefty $10 billion.
For many small and medium-sized businesses (SMBs), surviving the pandemic has forced a transformation of their brick-and-mortar stores into virtual showrooms. But simply enabling consumers to shop online doesn't cut it when they want to pick up and inspect products at physical stores. In this month’s Small and Medium Business Reopening Report, Strictly Bicycles President Nelson Gutierrez explains how offering contactless payment options is helping bridge the online and in-store retail divide.
The $4.19 billion musical instrument industry has a growing fraud problem. As consumers go online to shop, card-not-present (CNP) fraud attempts are rising with victims being charged for high-price instruments and fraudsters reselling them on black markets, says musical instrument and equipment retailer Sweetwater’s Chief Digital Officer Mark Clem. In this month’s Next-Gen Debit Tracker, Clem discusses how combining digital footprint and behavioral analysis with public record research can help detect fraudsters and counter CNP fraud.
A recent report finds that recipients of the initial $2.2 trillion in stimulus checks tended to use those payments to bolster their savings or pay down debt.