As Snap sinks further below its $17 IPO price, one professor of business unloaded on the company. “Investing in Snap like driving drunk,” NYU Stern Professor Scott Galloway told CNBC’s Squawk Alley on Tuesday. Snap is the “most overvalued company in the world,” Galloway said. “I think [investing is] something no responsible person should do,” […]
Read moreFor years, cities around the world have tried to dethrone Silicon Valley as the best place to be a tech entrepreneur. But LinkedIn founder and Greylock Partners venture capitalist Reid Hoffman says the key to the Valley’s staying power often goes overlooked. “When you listen to people talk about what the ‘secret of Silicon Valley’ […]
Read moreA Morgan Stanley analyst’s downgrade of Snap was an “obituary,” and the social media company is struggling in the mobile ad space like Twitter, CNBC’s Jim Cramer said Tuesday. “Snap, crackle, pop,” Cramer said on “Squawk on the Street.” “This is (Mark) Zuckerberg going after them in a way that is only – it’s not […]
Read moreTuesday might be known universally as Amazon’s Prime Day, but other retailers aren’t going to miss out on the heavier-than-normal online shopping traffic. In fact, a survey shows 76 percent of Prime Day shoppers will visit other major online stores to research product ratings and reviews before making a purchase on Amazon.com, according to consumer […]
Read moreStart-up WeWork has raised about $760 million of new funding, according to filings with the Delaware Department of State. The company’s valuation now stands at $20 billion, unnamed sources told Forbes, which previously reported the funding round. That would be higher than the $16.9 billion valuation last estimated by CB Insights. WeWork declined to comment […]
Read moreApple will release its new iOS 11 software for the iPhone and iPad this fall, but you can try it now. You just need to sign up to become a public beta tester through Apple’s website, which is free and easy. There are some caveats you should know about, though. While you’ll be getting a […]
Read moreIt’s Prime Day 2017, which is Amazon‘s now-annual midsummer deals bonanza designed to entice the few of us that are left without a Prime subscription to sign up. Thousands of prices get slashed, as if being admonished for their insolent cost, and replaced with marginally more affordable ones. Delivery is free, unlimited, and same day […]
Read moreAn electric car maker deserted its plan to construct a $1 billion manufacturing plant in southern Nevada in a move experts say could spell trouble for the company and the broader niche electric automobile businesses. Faraday Future Chief Financial Officer Stefan Krause said Monday’s decision to scrap the plant was due to a shift in […]
Read moreAmazon’s third annual Prime Day has a new piece to its shipping puzzle: airplanes. The new Prime Air fleet will help deliver the Echo devices, flat-screen TVs and countless other marked-down goods expected to lure consumers’ dollars with the easy swipe of a tab. The 30-hour Black Friday-like sales event is marketed to Prime members, […]
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Morgan Stanley analysts downgraded Snap on Tuesday, a day after the shares fell below their IPO price of $17. This is particularly insulting because Morgan Stanley took the Snapchat parent public, and therefore priced the IPO at $17 a share. The analysts are separate from the underwriters, but it still creates an awkward appearance. Shares […]
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