BuzzFeed’s hopes of raising nearly $300 million in cash from its merger with a special purpose acquisition company appear to have been dashed. Most of the shareholders in the SPAC, 890 5th Avenue Partners, opted to take their money out of the company ahead of merger’s completion, said a person familiar with the situation, confirming a report in the Wall Street Journal . BuzzFeed can still...
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The Briefing startups uber/lyft
Oscar Health’s New CEO Has a Tough Job—but Lyft’s New CEO Has It Worse
Mark Bertolini must be feeling pretty good. Since he was named the new CEO of Oscar Health on Tuesday, Oscar’s long-suffering stock has bounced 78%. OK, skeptics will point out that bounce was off a very low base—the stock was at $3.59 on Monday. And even after the rally, Oscar stock is still down 84% from its initial public offering price. But any stock lift is better than the alternative,...
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