News about Silicon Valley business almost everyday.
Palo Alto Police arrested four suspects for organized retail theft last Friday afternoon after shoplifting from a downtown clothing store and were involved in a non-injury hit-and-run collision with another vehicle as they fled the scene. Police booked all four suspects into jail. On Friday, April 22, 2022, at about 2:07 p.m., the Palo Alto […]
SAN FRANCISCO — Twitter, Inc. has agreed to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at $44 billion. Upon completion of the transaction, Twitter will become a privately held company. Musk was already one of the largest shareholders in the social network and is […]
Last October, Instacart launched service with Grocery Outlet – the leading extreme value retailer in the U.S. based in Emeryville – making online shopping and delivery available to Grocery Outlet customers for the first time. The initial pilot ran for six months across nearly 70 Grocery Outlet stores in California, and Instacart is now expanding […]
National sandwich chain Panera Bread has launched the Unlimited Sip Club, the first-ever nationwide unlimited beverage subscription which now includes all 26 of its self-serve beverages. For $10.99 per month (plus tax), Panera is expanding its unlimited coffee subscription to incorporate the entire Panera portfolio of self-serve beverages, including hot and iced coffee, hot and […]
Fees for instant transfer of funds on Venmo and PayPal are both increasing in May and June. Instant Transfer allows customers to transfer their money instantly to a bank account or debit card for a fee. With Standard Bank Transfers, customers who can wait a few days can transfer their money for no fee, which […]
SAN JOSE — Mendel, a clinical artificial intelligence and natural language processing platform, has raised $40 million in Series B funding round led by Oak HC/FT. The round includes participation from existing investor DCM, who led Mendel’s Series A funding round in June 2021. This funding comes amidst surging customer demand for Mendel’s AI infrastructure. […]
SACRAMENTO — Patricia Castaneda, 38, of Redwood City and a former employee of Stanford University, was sentenced to 33 months in prison and her brother, Eric Castaneda, 37, also of Redwood City, was sentenced to 18 months in prison by U.S. District Judge Kimberly J. Mueller for their roles in a scheme that involved the […]
BERKELEY — UPSIDE Foods (formerly Memphis Meats), a company in the cultivated meat, poultry, and seafood industry, has closed a $400 million Series C funding round, the largest round in the industry to date. This new raise places the company’s valuation at over $1 billion. Pending regulatory review, UPSIDE Foods hopes to be available to […]
Netflix, the leading streaming video service, saw its shares plunge 35% Wednesday after it announced its first quarterly decline in subscribers due to the war in Ukraine. For the first quarter of 2022, Netflix reported 221.64 million subscribers, down 200,000 from the last quarter. Netflix stopped service to Russia after the war with Ukraine started […]
SAN FRANCISCO — Unlearn, developer of the first machine-learning technology that creates digital twins of patients in clinical trials to enable smaller, faster studies, has closed a $50 million Series B funding round. The financing was led by Insight Partners with participation from new investor Radical Ventures, as well as all of the company’s existing […]
PALO ALTO — Jobox.ai, a software company that provides home service marketplaces with an AI-based infrastructure to directly connect their customers with skilled trades professionals (“pros”), has secured a $42 million Series B funding round led by General Catalyst. Additional investments came from new and existing investors including Resolute VC, NNS, Expanding Capital and Joey […]
SANTA CLARA — Strivr, a platform for enterprise-scale Virtual Reality (VR) solutions, announced that Accenture and Workday Ventures have made strategic investments as part of the company’s latest funding round. As an extension to its Series B round, this $35 million round is being led by Georgian, with participation of additional new investors including Bank […]