Huawei’s revenue rose 18% to a record $122 billion, while its smartphone shipments rose 17% to 240 million in 2019, the Wall Street Journal reported, citing an internal memo written by the company’s chairman. Still, Huawei grew slower than expected in 2019 and will face greater challenges in 2020 because of U.S. sanctions, Huawei chairman Eric Xu said, according to the memo. Huawei doesn’t...
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SoftBank’s Onetime Pizza-Robot Darling Shuts Down
Zume, which raised $375 million from SoftBank to automate pizza-making with robots before switching to developing sustainable packaging, has shut down. The company is insolvent and has retained restructuring firm Sherwood Partners to liquidate the assets for the benefit of the creditors, an alternative to bankruptcy, according to Martin Pichinson, Sherwood Partners’ cofounder. It ceased...
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MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.