Shares of Singapore-based food delivering and ride-hailing company Grab fell over 20% in its first day as a public company after going public via a merger with special purpose acquisition company Altimeter Growth Corp. The stock opened at $13.06 per share but immediately began trending downward, with shares trading around $8.60 Thursday afternoon. Grab, which is the largest U.S. listing of a...
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Instacart Cuts Staff, Curbs Hiring in Run-up to IPO
Instacart has been letting go of staff, slowing hiring and curbing other expenses as it heads toward a public listing, when the grocery-delivery company will try to convince public investors that it can maintain its growth—and make a profit—as the economy slows. The San Francisco startup over the last two months has fired some of its more than 3,000 workers after holding midyear...
Twitch’s Creators Chief Departs Amid Payout Cutbacks
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Google CEO Addresses Employee Questions about Cost-Cutting
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