Vice is laying off 100 employees across the globe after seeing huge declines in advertising stemming from the coronavirus pandemic. Vice has worked over the years to broaden its business beyond digital advertising—for instance, by creating its own television shows—but it still makes up 21% of the revenue for the company, according to a memo by CEO Nancy Dubuc. In the memo, Dubuc didn’t name...
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MoonPay Is Trying to Reinvent Itself
In case you missed it, I scooped Tuesday that insiders at MoonPay, including its DJ-turned-CEO Ivan Soto-Wright, sold $150 million worth of shares in a secondary transaction as part of its $555 million November 2021 funding round. And a few weeks after the Series A announcement, Soto-Wright bought a $38 million Miami Beach estate that was previously owned by retired Miami Heat star Chris Bosh....
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How Microsoft Swallowed Its Pride to Make a Massive Bet on OpenAI
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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.