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StockX Taps Banks for IPO

By Malique Morris
· · Source: Bloomberg

StockX has tapped Morgan Stanley and Goldman Sachs to work on its planned initial public offering that could happen as early as the first half of this year, Bloomberg reported on Wednesday. Detroit-based StockX, which connects buyers and sellers of popular sneakers, gaming consoles and other collectibles and takes a cut of the sale, has been a potential IPO candidate for at least a year now....

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Senators Target Google With New Bill to Break Its Grip on Murky Ad Tech Market
By Josh Sisco, Sarah Krouse and Mark Di Stefano · Jan. 28, 2022 2:09 PM PST
From left: Sens. Mike Lee and Amy Klobuchar, and Alphabet CEO Sundar Pichai. Photos by Bloomberg
A bipartisan group of U.S. senators that has been trying to rein in Google and other big tech companies plans to introduce a bill that would regulate the shadowy world of online ads more like how the government regulates Wall Street. The draft bill, aiming to prevent potential conflicts of interest, would effectively force Google to sell or spin off major parts of its dominant advertising...
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Exclusive
Tiger Global, Alkeon Slash Startup Valuations Amid Public Stock Selloff
By Berber Jin and Kate Clark
For more than a year, startup founders have watched in awe and some trepidation as hedge funds and other large investors flooded private startups with big checks, pushing up valuations and making it easier than ever to raise money.
Snowflake CEO Frank Slootman (left) and Databricks CEO Ali Ghodsi. Photos by Snowflake, Bloomberg. Collage by Mike Sullivan
Exclusive Cloud
Snowflake vs. Databricks: How Onetime Friends Became Fierce Cloud Rivals
By Kevin McLaughlin
A few years ago, Snowflake and Databricks were up-and-coming cloud software startups that were so friendly, their sales teams regularly passed customer leads to each other.
Pinterest headquarters office in San Francisco. Photo by Bloomberg
Exclusive Entertainment E-commerce
Pinterest Has Lost at Least 7 Senior Execs in Recent Weeks
By Jessica Toonkel and Sahil Patel
Pinterest has lost at least seven senior executives in roles ranging from creator marketing to corporate development in recent weeks as the online scrapbooking app grapples with a drop in U.S.
Art by Mike Sullivan
Exclusive Venture Capital Startups
Tech’s Great Headhunter Shortage: Employers Shower Recruiters With Better Pay, Benefits
By Mark Matousek
In the middle of 2020, not long after the Covid-19 pandemic began sparking layoffs across the country, Joe Price watched as eight members of the recruiting department at an automotive software company he worked for lost their jobs.
Photos by AP; Bloomberg
Enterprise Markets
M&A Watch: 8 Potential Targets as Tech Stocks Sink
By Aidan Ryan
A sharp sell-off in tech stocks over the past few months has caused investors a lot of pain—but could be the trigger for more mergers.
Art by Shutterstock; Mike Sullivan
Opinion Crypto Economy
Bitcoin Is Failing Its Original Mandate. That Doesn’t Mean It’s Worthless
By Eswar Prasad
By plenty of standards, Bitcoin is a failure. Transactions on the Bitcoin blockchain take at least 10 minutes to process, which would make it cumbersome for day-to-day transactions if its wildly fluctuating price hadn’t already rendered it useless as a means of exchange.