Lyft reported revenue fell 36% to $609 million in the first quarter, as the impact of the pandemic continued to ebb. The ride-hailing company’s net loss rose slightly to $427 million. The quarterly result was better than Lyft had projected in February, when it reported the fourth quarter. At that time Lyft executives said that based on January results, the first quarter’s business could be...
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals.
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