WeWork will lay off at least 2,000 staff in the coming week — 13 percent of its 15,000 payroll — with thousands of more job losses expected to follow, the Guardian reported on Tuesday (Oct. 15). WeWork staff told the Guardian that they believe “the...
India payment service Paytm has almost closed a deal to get $2 billion in a new financing round in preparation for competition with a slew of other payment services, including Facebook’s Libra and Flipkart’s PhonePe. Bloomberg is reporting that the funding comes from Ant Financial...
U.K. FinTech company Revolut wants to raise as much as $1.5 billion so that it can expand globally. According to The Financial Times, a source familiar with the matter revealed that the company has hired JPMorgan to raise $500 million in new equity from investors,...
The parent company of WeWork is at a junction after its initial public offering (IPO) tanked and its chief executive officer stepped down, Reuters reported on Sunday (Oct. 13) Lead investor SoftBank has a financing package in place to command WeWork and put the firm’s...
The public market for cannabis is off by more than 40 percent, despite the industry’s blazing forecast and enthusiastic quarterly reports, The Wall Street Journal (WSJ) reported on Saturday (Oct. 12). The WSJ pointed to a near-$700 million merger of two U.S. companies that was...
SoftBank CEO Masayoshi Son is reportedly reconfiguring his strategy for investing with his latest Vision Fund due to the struggles of companies like Uber and WeWork. CNBC is reporting that Son wants to invest in companies that have a clear path to profitability and going...
WeWork needs to be financed by the end of November or it will run out of money. Bloomberg is reporting that the co-working company, which allows people to share office space, is working on a deal to help its cash woes. It is reportedly talking...
PayPal lost $228 million in the third quarter partially due to Uber’s failure to make money, Bloomberg reported on Tuesday (Oct. 8). PayPal’s $500 million investment in Uber just before its initial public offering (IPO) dropped 34 percent. Its investment in Latin American retailer MercadoLibre...
Three months to go, more or less. In terms of the total amount invested to date in FinTechs, as tracked by PYMNTS via the India FinTech Tracker, the year to date tally stands at just under $3.7 billion. Of that, logistics holds sway, at just...
