Facebook has bought Giphy, the New York-based search engine of animated gifs, both companies announced Friday. The deal was valued near $300 million with more for employee retention, said people familiar with the matter, a steep drop from Giphy’s last known valuation of $600 million in 2016. A Facebook spokesperson declined to comment on the financial terms of the deal. Giphy raised $150 million...
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Fintech’s Big Wakeup Call
Fintechs were supposed to transform banking by making it dead simple for users to open savings accounts or pay their bills. But a series of recent high-profile setbacks with both fintechs and the traditional banking sector is setting off alarm bells. This month’s series of bank collapses has shined a spotlight on the health of small banks, typically a behind-the-scenes partner of...
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The Instant Oral History of the Silicon Valley Bank Collapse
On a cosmic level, the collapse of Silicon Valley Bank was a mere blip. The murmurs about trouble began last Wednesday, the panic spread via group texts and Twitter threads on Thursday, the bank went under on Friday, the government got its act together on Saturday, and on Sunday every current and former customer of SVB could breathe a cautious sigh of relief.
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