Flexport’s revenue fell nearly 70% in the first half of the year to $700 million as the logistics startup reeled from a drop in freight forwarding demand, The Information reported earlier Thursday. As sales sank the startup, last valued at $8 billion, burned roughly $300 million in cash in the first half of the year. One major source of the burn was payroll, which rose as former CEO Dave...
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What a Brazilian Steakhouse Says About the Tech Economy
Hi, welcome to your Weekend.One of my favorite tech memes is the “We’re so back” post, the kind that pokes fun at the industry returning to the good old days of expensive perks and wine-soaked dinners.I had a real-life “We’re so back” moment this week when I attended a bacchanalian feast thrown by Bain Capital Ventures at Fogo de Chão in San Francisco. Bain Capital’s private equity arm...
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