Earlier, in 2018, Insight raised 100 million yuan ($14 million) in its Series B funding round. The post China Deal Monitor: Sequoia-backed Insight nets nearly $28m and more updates appeared first on DealStreetAsia.
Stocks roared higher on Monday, but one legendary hedge fund manager isn't breaking out the champagne just yet. Optimism that COVID-19's spread may be slowing powered the market's impressive rally, with the Dow Jones closing the session up by over 1,600 points. That said, it may be too early to start toasting to the market's recovery and the end of dramatic volatility.Billionaire Steve Cohen is warning staff of his investment firm, Point72 Asset Management, to stay cautious as stocks rebound from the COVID-19-driven sell-off.
JAKARTA -- Travel booking service Traveloka, one of Indonesia's most valuable startups, has been forced to lay off a significant portion of its staff, as the coronavirus outbreak saps demand for travel, two sources familiar with the matter told the Nikkei Asian Review. The cuts, which affected around 100 people or 10% of the startup's employees, happened last week, according to a source, who said some of those who remain are being paid half their regular salary.
Colleges across the nation are scrambling to close deep budget holes and some have been pushed to the brink of collapse after the coronavirus outbreak triggered financial losses that could total more than $100 million at some institutions. Scores of colleges say they're taking heavy hits as they refund money to students for housing, dining and parking after campuses closed last month. Many schools are losing millions more in ticket sales after athletic seasons were cut short, and some say huge shares of their reserves have been wiped out amid wild swings in the stock market.
I've been a hedge fund manager for over three decades and I have lived through many financial crises. I was around for Black Monday, for Long Term Capital Management and the Asian crisis, for the bursting of the dot com bubble and for the great financial crisis in 2008. Believe me, this is entirely different. What we are experiencing now is not something that can be traded against. This is not 2008. This is not something that can be processed through the capital markets. I believe this is an economic calamity of the kind no one alive has experienced.
Carnival Surges 27%, Extends 2-day Surge To 53%, After Saudi Fund Announces A Stake In The Company | Markets Insider
On Monday, Saudi Arabia's sovereign wealth fund bought an 8.2% stake in Carnival Corp. Shares surged as much as 27% on Tuesday, following a 20% gain on Monday. That brought the stock's two-day move to 53%. The company has been hit hard by the coronavirus pandemic. It lost $781 million in the quarter ending in February, and expects to lose more money going forward. Watch Carnival trade live on Markets Insider. Beleaguered Carnival Corp. is rallying after Saudi Arabia announced Monday it bought a roughly 8% stake in the travel company.
SAN FRANCISCO--(BUSINESS WIRE)--Today CircleCI, the leading CI/CD platform, announced it has successfully closed $100 million in Series E funding. The latest round was led by IVP, with Sapphire Ventures also participating. IVP Partner, Cack Wilhelm, will also be joining CircleCI's board of directors. CircleCI has raised $215 million in total funding since its founding in 2011. With this new round, CircleCI will continue to further execute on its promise to provide the best continuous integratio.
AUSTIN, Texas--(BUSINESS WIRE)-- #Amanda--Calytera Appoints Zeynep Young -- leader with extensive experience driving growth in technology companies including in govtech -- as CEO.
AUSTIN, Texas--(BUSINESS WIRE)--AlertMedia, a fast-growing emergency communications software provider, has raised $15 million in Series C funding. : AUSTIN, Texas--(BUSINESS WIRE)--AlertMedia, an emergency communication software provider, today announced it has raised $15 million in Series C funding. The round was led by existing investors including JMI Equity, Next Coast Ventures, and Silverton Partners. AlertMedia has quickly emerged as the leading provider of emergency communications technology. As a result of the product's ease of use, reliability, and mobility, the company has doubled its business five years in a row while maintaining an extraordinary +84 NPS score.
Michael Novogratz, former head of Fortress Investment Group and founder of cryptocurrency bank Galaxy Digital, said on Tuesday that there's a "global money-printing orgy going on" and people should buy assets like gold and bitcoin to protect against possible currency devaluation. Speaking on CNBC's Squawk Box, Novogratz said that as leaders like Nancy Pelosi talk about another stimulus, "money is growing on trees right now." "At one point that comes home to roost," he said, adding that he did buy some stocks, like Starbucks. Visit Business Insider's homepage for more stories.