In a blog post, CEO and co-founder Travis Kalanick says the growth of the company doesn’t come without “growing pains.”
The service is a howitzer pointed at startups who have tried to steal business from Schwab and other old-school brokerages and advisers.
Vice Media, which started as a tiny free magazine in Montreal, raised $500 million in a pair of deals that value the company at $2.5 billion. The investments, which come after talks about a deal with Time Warner’s HLN cable network fell apart, were from A&E Networks and venture capital firm Technology Crossover Ventures. Each company invested $250 million in return for a 10% stake.
Osmium Partners, which just unseated the CEO and took control of the board of Spark Networks, the parent company of JDate.com and ChristianMingle.com, now holds a 10% stake in Rosetta Stone.
Hedge fund Jana Partners, which has been pushing for a sale of the pet supply company citing poor financial performance in the last year, received anonymous documents that appear to have persuaded PetSmart into considering a deal. Competitor Petco or a private equity firm is looking to bid on the company.
A lame duck CEO, a swift sale of Red Lobster without shareholder approval, and two hedge funds out for the entire board should make the Darden annual meeting in Orlando next month quite the spectacle. So. Much. Drama.
Cannell Capital in April doubled its stake in Crumb Bake Shop to more than a million shares, despite nearly all signs pointing to the company’s ultimate demise. Earlier this week, the cupcake giant said it was closing all of its stores and going out of business.
JP Morgan cut off its correspondent banking relationships with Sberbank and VTB. One industry expert called it a “slap in the face” for the Russian banks.
Pershing Square Capital has launched a new website attacking former Herbalife employees. Experts say the hedge fund could be in questionable legal territory with its “unprecedented” move.
According to the assembled financial minds who spoke with BuzzFeed on the sidelines of the World Economic Forum in Davos, Switzerland, last week.
Citron Research released a report calling the financial practices at construction industry service provider Textura Corp. “American Hustle meets Wolf of Wall Street” and sent the stock into free fall. There was also a reference to Die Hard and Liar Liar.
Taking a long position on a stock involves a love that should be built to last. “It wasn’t over. It still isn’t over.”