Pro Rata - October 23, 2019
WeWork last night made it official: SoftBank will pump $9.5 billion into the beleaguered company, including a $3 billion stock tender, $5 billion of new debt, and $1.5 billion that is being accelerated from an existing equity commitment. There's been lots of talk of how this mess will impact startup valuations, business models, and IPO opportunities. But far too little on how it should impact board oversight and founder control. Venture capital has spent more than a decade bending over backwards to appease founders, often with positive results.
Mubadala Considers Tapping Debt Markets
Mubadala Investment Company is considering the possibility of debt issuance as the investor pivots toward other assets. Mubadala exited its decade-plus investment in Advanced Micro Devices (AMD). Mubadala disclosed that they made US$ 4.25 billion on its initial investment of US$ 770 million in AMD. Mubadala and other public investors like Temasek Holdings and Canada [...]
Fabric Raises $110M
Fabric, which was formerly known as CommonSense Robotics, said Oct. 23 that it raised $110 million in a Series B round led by Corner Ventures. Participating in the round were from Aleph, Canada Pension Plan [...]
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Hong Kong Extradition Bill Officially Killed, But Move Unlikely To End Unrest
Hong Kong's legislature on Wednesday formally withdrew planned legislation that would have allowed extraditions to mainland China, but the move was unlikely to end months of unrest as it met just one of five demands of pro-democracy protesters.
Fabric Nabs $110M To Expand Its Automated Micro-fulfillment Centers | Venturebeat
Warehouse automation is a red-hot sector -- it's anticipated to be worth $27 billion by 2025. Attabotics raised $25 million in July for its robotics supply chain tech, and InVia Robotics this summer nabbed $20 million to bring its subscription-based robotics to ecommerce warehouses. Meanwhile, in the E.U., supermarket chain Ocado deployed a robot that can grasp fragile objects without breaking them and French startup Exotec detailed a system -- Skypod -- that taps robots capable of moving in three dimensions.
Khazanah-backed Malaysia Airlines Fails To Breakeven Despite Restructuring
Following the restructuring plan in 2015, Malaysia Airlines was targeting to breakeven in 2018. The post Khazanah-backed Malaysia Airlines fails to breakeven despite restructuring appeared first on DealStreetAsia.
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Hong Kong Extradition Bill Officially Killed, But Move Unlikely To End Unrest
Hong Kong's legislature on Wednesday formally withdrew planned legislation that would have allowed extraditions to mainland China, but the move was unlikely to end months of unrest as it met just one of five demands of pro-democracy protesters.
Fashion Start-up Zilingo To Pump $136M Into Us Ops, Companies & Markets News & Top Stories - The Straits Times
October 23, 2019 5:00 AMSingapore-based fashion technology platform Zilingo said yesterday that it will invest US$100 million (S$136 million) across the United States to digitally transform the fashion supply chain.