BuzzFeed is closing BuzzFeed News, the company announced, as part of a sweeping cost-cutting including layoffs of 15% of the company’s staff, or 180 people. The news signals the financial strain on the digital media upstart which is grappling with a weak digital ad market. In a note to staff, BuzzFeed CEO Jonah Peretti said he had overinvested in BuzzFeed News in the past “because I love their...
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‘A Total Nightmare’: Transfer Delays With New Apple-Goldman Savings Accounts Prompt Complaints
When Kevin Smyth learned in April that Goldman Sachs and Apple were offering a savings account with higher yields than anyone else, he jumped at the chance to shift money that was earning less at another online bank. But within a few weeks, when he had to withdraw a small portion of the funds to pay for a home renovation, everything went awry. A transaction that was supposed to take one to...
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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.