In his first major move as CEO, Jeff Shell is reorganizing NBCUniversal, putting Mark Lazarus, who previously headed up sports and local stations, in charge of all entertainment. As part of the shakeup, Andy Lack, the head of NBC News Group, is leaving the company, and is being replaced by Cesar Conde, the former head of Telemundo, who is now chair of NBC’s News Group. The naming of Conde is a...
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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.