News about Silicon Valley business almost everyday.
Once again the Mega Millions jackpot is flirting with the magic $1 billion mark. Last July 29, a massive $1.337 billion prize was won in Illinois, and now the jackpot is closing in on 10 figures for the second time in just over five months. After no ticket matched all six numbers in the Mega […]
2022 was the year that technology stocks came crashing back to Earth. The Nasdaq stock market, where most technology stocks are listed, was down 33% for the year. The Dow Jones Industrial Average dropped 8.8% and the S&P 500 was down 19.4% for the year. With increasing interest rates and war in Ukraine, investors put […]
In 2022, inflation soared to 8.3 percent, drastically affecting the ability of nearly 92 million Americans to afford the cost of living and basic needs such as rent, mortgage, utilities, gas, and food. Even more, approximately 200 million now live paycheck-to-paycheck. The escalation of costs has increased requests for assistance by 30-50 percent in many […]
The United States Postal Service plans to buy at least 66,000 battery electric delivery vehicles as part of its 106,000 vehicle acquisition plan for deliveries between now and 2028. The vehicles purchased as part of this plan will begin to replace the Postal Service’s aging delivery fleet of over 220,000 vehicles. New electric vehicles are […]
Doordash, the nation’s leading food delivery service, has laid off 311 workers at its headquarters in San Francisco according to a WARN filing with the state of California. The company had announced it would cut 1,250 jobs on November 30. Another 75 were cut at its Los Angeles offices according to a separate WARN filing. […]
SAN MATEO — Amazon’s gaming division is teaming up with San Mateo-based Crystal Dynamics to develop a new multiplatform Tomb Raider title, with Amazon Games providing full support and publishing the game globally. The new Tomb Raider game (actual name hasn’t been decided on) is a single-player, narrative-driven adventure that continues Lara Croft’s story in the […]
Instacart, the nation’s leading grocery delivery company, has released its first-ever list of 75 emerging brands for 2022. The company used year-over-year sales data to identify the 75 fastest-growing emerging brands of 2022 on Instacart. On this year’s list you’ll find lots of innovative options in the better-for-you category, including vegetarian meals from brands like […]
The Kroger Co., one of the nation’s largest supermarket chains, is launching floral and sushi delivery on the DoorDash marketplace from stores across the country. The new delivery option through DoorDash marks the latest expansion of the grocer’s seamless experience, providing customers with even more opportunities to get fresh, affordable products. “By offering customer-favorite sushi options and premium floral […]
Public Storage, a publicly-traded owner, acquirer, developer, and operator of self-storage properties, announced the reopening of a facility adjacent to Apple, Inc. offices in Cupertino. The Public Storage at 20565 Valley Green Drive, Cupertino location now features two five-level state-of-the-art buildings that include app-enabled digital property access and account management, eRental capability, and smart security […]
PALO ALTO — TripActions — provider of an all-in-one travel, corporate card, and expense management solution — has secured $400 million in credit, consisting of a warehouse debt facility from Goldman Sachs Bank USA, as the senior lender and administrative agent, with a $200 million commitment ($300 million total Program Limit) and an asset-backed lending […]
SAN FRANCISCO — Andersen, a tax and advisory firm based in San Francisco, has announced the promotion of 23 Managing Directors across 11 offices nationwide. Andersen is the founding member of Andersen Global, an international association of legally separate, independent member firms comprised of tax and legal professionals around the world. Established in 2013 by U.S. member […]
PALO ALTO — Wilson Sonsini Goodrich & Rosati, a law firm that serves technology, life sciences, and growth enterprises worldwide, has elected 18 new partners from its attorney ranks. The promotions will be effective February 1, 2023. Wilson Sonsini is based in Silicon Valley and has 19 offices worldwide. “Our 2023 class of partners is […]