News about Silicon Valley business almost everyday.
SAN FRANCISCO — CIBC Innovation Banking has provided $40 million in growth capital financing to Viz.ai. The funding will help expand the company’s AI-powered care coordination platform and potential acquisitions. Viz.ai uses artificial intelligence to expedite disease detection, inform critical care decisions and help improve patient care. The Viz.ai AI-powered platform helps connect and activate […]
PALO ALTO — Workera, an operator of a skills intelligence platform, has closed a $23.5 million Series B financing led by Jump Capital with participation from existing investors NEA, Owl Ventures, AI Fund, and new investor Sozo Ventures. Workera enables companies to better understand and develop their talent. By providing a deep understanding of an organization’s skills, Workera’s skills intelligence platform empowers leaders to […]
BART is moving forward with a purchase of brand-new fare gates to be installed systemwide as part of its latest effort to win riders back and overhaul safety in the system. The new fare gates will bring a new look and improved experience, offering state-of-the-art technology that will boost safety by reducing fare evasion, enhancing […]
SAN FRANCISCO — Revolv, a full-service provider of electric medium-to-heavy commercial fleets, announced it has closed a $15 million Series A funding round led by an affiliated fund of Greenbacker Capital Management. With the investment, Revolv plans to expand its operations across North America to support the growing demand for decarbonized commercial fleets with light, medium and heavy-duty trucks. The company […]
Apple and Major League Baseball (MLB) announced that “Friday Night Baseball,” a weekly doubleheader, will be available to all Apple TV+ subscribers on Fridays throughout the regular season. While Apple let viewers watch MLB games last season for free, only paid subscribers will be able to watch this season. Apple TV+ costs $6.99 per month […]
Eleven major banks are depositing a combined $30 billion in First Republic Bank of San Francisco in a sign of support for the struggling bank. Bank of America, Citigroup, JPMorgan Chase and Wells Fargo announced they are each making a $5 billion uninsured deposit into First Republic Bank. Goldman Sachs and Morgan Stanley are each […]
CUPERTINO — Apple has launched Shop with a Specialist over Video, a new live shopping experience on apple.com for customers in the U.S. Shop with a Specialist over Video connects customers looking to purchase iPhone with a retail team member via a safe and secure, one-way video shopping session. With this new service, customers can browse […]
The Federal Deposit Insurance Corporation (FDIC) has transferred all deposits—both insured and uninsured—and substantially all assets of the former Silicon Valley Bank of Santa Clara, to a newly created, full-service FDIC-operated ‘bridge bank’ in an action designed to protect all depositors of Silicon Valley Bank. Depositors will have full access to their money, when Silicon […]
SANTA CLARA — SVB Financial Group (“SVBFG”) announced its Board of Directors has appointed a restructuring committee consisting of five independent directors to explore strategic alternatives for the holding company and its SVB Capital and SVB Securities businesses, as well as its other assets and investments. Both of these businesses are separate divisions of SVBFG […]
The Academy of Motion Picture Arts and Sciences awarded Apple’s Original Film The Boy, the Mole, the Fox and the Horse with the Oscar for Best Animated Short Film, at the 95th Annual Academy Awards ceremony in Los Angeles on Sunday. “We are so proud of Charlie and the brilliant team who brought The Boy, […]
Silicon Valley Bank has been taken over by the government. The Santa Clara-based bank was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara (DINB). At the time of […]
SVB Financial, the holding company for Silicon Valley Bank, saw its stock collapse Thursday after announcing a stock sale and capital raise. Shares plummeted $160 or 60% on Thursday as investors rushed to sell and also plummeted on Friday morning leading to a halt in trading. The problems started Thursday when SVB Financial announced it […]