Manish Lachwani, the co-founder and former CEO of mobile app testing startup HeadSpin, pled guilty to wire fraud and securities fraud in San Francisco federal court on Thursday. Lachwani was arrested in 2021 for providing false key financial metrics to venture capital investors. His sentencing hearing is scheduled for September 23. Palo Alto-based HeadSpin, founded in 2015, was once valued...
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Why Nvidia Aids Cloud Rivals of AWS, Google and Microsoft
Nvidia’s business of selling chips for artificial intelligence is going gangbusters, but the company faces a looming problem. Its biggest customers—cloud providers including Microsoft, Google and Amazon—are making their own AI chips to reduce their reliance on Nvidia. In response, Nvidia is helping two upstart cloud providers whose ambitions don’t include developing...
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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.