TikTok’s fate in the US has improved immensely after the election of Donald Trump to a second presidential term, according to industry observers and insiders, as the valuation of the app’s Chinese owner ByteDance swells. The future of the embattled short-video platform is “a lot brighter than it was” after Trump’s win, said Cameron Johnson, … Read more
Brian Altomare, founder of LugLess, entered the airline baggage services industry after his business pitch was rejected by Shark Tank in 2013. LugLess offers a service that enables travellers to ship their luggage in advance at competitive prices, positioning itself as a cost-effective alternative to expensive airline baggage fees. The business saw a quick rise, … Read more
Billionaire investor and chairman of Berkshire Hathaway, Warren Buffett, bought 1.04 million Class A shares of aerospace and electronics company Heico Corporation (NYSE: HEI.A) for $185.37 million in Q2, according to the latest 13F filing. Heico operates in two segments: the Flight Support Group (FSG) and the Electronic Technologies Group (ETG), where most of its … Read more
Wall Street’s enthusiasm about artificial intelligence has Nvidia on the verge of becoming more valuable than Amazon for the first time in two decades, and the AI chip maker is not far behind Google-owner Alphabet. A 40 per cent surge in Nvidia so far in 2024 has elevated its market capitalisation to US$1.715 trillion as … Read more
New Delhi: Global investment firm Fidelity has further marked down the value of its holding in social commerce platform Meesho, to $3.5 billion. Fidelity had recently cut the valuation of Meesho to $4.1 billion from $5 billion, in a regulatory filing with the US’ Securities and Exchange Commission (SEC). According to TechCrunch, the latest valuation … Read more
New Delhi: Edtech major Byju’s is reportedly seeking new funding at around $2 billion valuation, down from its top valuation of $22 billion in early 2022. The company, which announced its audited FY22 financial results on Tuesday after a long gap, aims to raise $100-$200 million via a rights issue, reports TechCrunch, citing people familiar … Read more
