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PharmEasy Plans $300M Funding Round Amid Valuation Drop and Debt Pressure
PharmEasy, one of India’s largest online pharmacy startups, is actively working to raise approximately $300 million in a new funding round, which comes with a substantial markdown from its previous valuation, according to a person familiar with the matter. The funds will primarily be allocated to repay the debt owed to Goldman Sachs, which was acquired to facilitate the majority stake acquisition of Thyrocare for over $600 million… Read More
Meta’s Threads: The New Social Media App Challenging Twitter’s Reign
Meta, the parent company of Instagram, is gearing up to launch its latest creation, Threads, on Thursday. This exciting new app is set to revolutionize the way we connect and communicate, posing a formidable challenge to Twitter’s dominance in the social media realm… Read More
Norway Plans to Open Waters for Deep-Sea Mining, Sparking Environmental and Geopolitical Concerns
Scandinavian Country Seeks to Tap Into Critical Mineral Resources Despite Controversy
Norway is positioning itself to become one of the early pioneers in deep-sea mining as it unveils plans to open up a vast area in the Norwegian Sea for the extraction of transition minerals from the ocean floor. The ambitious initiative aims to secure crucial mineral resources for the country’s energy transition goals, but it has raised significant environmental concerns and geopolitical tensions… Read More
Network International Agrees £2.2bn Takeover Offer from Canadian Private Equity Giant Brookfield
Dubai-headquartered Payments Processor Set to Go Private in Landmark Deal
Network International, a prominent payments processor listed on the FTSE 250, has accepted a lucrative £2.2bn takeover offer from Brookfield, a Canadian private equity giant. The acquisition marks the latest in a series of listed companies being taken private and highlights the growing trend of foreign investors capitalizing on London’s undervalued assets.
Brookfield, led by former Bank of England governor Mark Carney, will acquire Network International at a premium price of 400 pence per share… Read More
Neuralink’s Valuation Skyrockets to $5 Billion as Revolutionary Brain Implant Captivates Investors
Elon Musk’s brain implant startup Neuralink has experienced a significant increase in valuation, soaring from around $2 billion to approximately $5 billion in recent privately executed stock trades, according to five sources familiar with the matter. The surge in valuation was driven by purchases from bullish investors, coinciding with Neuralink’s announcement on May 25 that it had obtained regulatory approval from the U.S. government for a human trial of its revolutionary brain chip.
While the trial approval is a significant milestone, experts anticipate that Neuralink may still require several years to secure commercial use clearance… Read More
Neuralink Granted FDA Approval for Human Testing: Pioneering Brain Implant Technology Takes Center Stage
Neuralink, the brain implant company founded by Elon Musk, has achieved a major breakthrough as it has been granted approval by the Food and Drug Administration (FDA) to commence human testing of its groundbreaking device. This development positions Neuralink at the forefront of a growing group of trailblazers in neurotechnology, all striving to integrate humans with machines to address a range of medical conditions such as paralysis, blindness, and depression. Furthermore, these advancements aim to augment human capabilities, including memory enhancement and the ability to interact with computers through pure thought… Read More
Golf’s Bitter Rivals Unite in Stunning Merger: PGA Tour and LIV Golf Form Unprecedented Partnership
In a jaw-dropping turn of events, the world of golf was sent into a frenzy on Tuesday as the PGA Tour, DP World Tour, and the Saudi-backed LIV circuit announced a groundbreaking agreement to merge and create a unified commercial powerhouse. This unexpected collaboration comes after a bitter feud that has divided the sport and left fans and players alike in shock.
The announcement, made through a joint news release, also revealed plans for LIV Golf players to reapply for membership on the PGA Tour and DP World Tour after the conclusion of the 2023 season, marking a significant step towards reconciliation between the warring factions… Read More
Sequoia Capital, Leading Global Venture Capital Firm, Announces Strategic Split into Three Independent Entities
Sequoia Capital, renowned for its early investments in major U.S. tech companies such as Airbnb, WhatsApp, and Zoom, is undergoing a significant transformation. The firm has decided to divide itself into three distinct entities – Sequoia Capital for the U.S. and Europe, HongShan in China, and Peak XV Partners in India and Southeast Asia. This strategic move aims to address conflicts between the different funds’ portfolios, alleviate brand confusion, and overcome the challenges of operating a centralized global investment business. The transition is expected to be completed by March 2024.
Background of Sequoia Capital: Founded in 1972 with a modest $3 million fund, Sequoia Capital became a prominent figure in Silicon Valley’s tech landscape, making early investments in Apple, Cisco, Google, and Nvidia. Over the years, the firm expanded its reach internationally by… Read More
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