Amazon is acquiring PillPack, the online pharmacy, in a deal worth around $1 billion. PillPack and Walmart were in talks for months about an acquisition for less than $1 billion, but Walmart dragged its feet on a final offer, allowing Amazon to swoop in. Walmart’s stock lost about $3 billion in value on Thursday after […]
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Since it went public eight years ago, Tesla’s share price has risen nearly 2,000 percent. And the company is still unprofitable. CEO Elon Musk has said he expects Tesla to turn a profit in the third and fourth quarters of 2018. There is a bit of skepticism on Wall Street as to whether the company […]
Read moreUnion Square Ventures has big plans to profit on a potential trillion-dollar business in blockchain and crypto in 10 years. But those plans won’t include starting a separate fund, according to a top executive. “We’re not planning to do it,” Albert Wenger, managing partner at Union Square Ventures told CNBC. “We see a lot of […]
Read moreThe perfect French fry is crispy on the outside and fluffy on the inside. A French fry that has been delivered to your home is often the opposite: cold, soggy and limp. Lamb Weston, the country’s biggest manufacturer of those potato delicacies, wants better fast food. More from the New York Times: UK fears for […]
Read moreWhen Elon Musk talked with CNBC after Tesla’s IPO eight years ago, he dismissed the skeptics who were predicting Tesla wouldn’t last. “People at this point ought to be a little more optimistic about the future of Tesla because we’ve confounded the critics at every turn,” Musk said moments after Tesla went public at $17 […]
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Tesla CEO Elon Musk has made the electric car maker’s shareholders a lot of money. The company’s stock is up nearly 2,000 percent from its $17 per share initial public offering, which was held eight years ago on June 29, 2010. The stock market is rewarding companies that have a believable narrative on how to […]
Read moreAn estimated 125 million people are playing “Fortnite” worldwide. The game is doing something that most other major ones have failed to do — bring together gamers from across all platforms. All but one, that is. Sony’s PlayStation 4 is the holdout. The console doesn’t allow cross-platform gameplay for its customers. And it’s hurting Sony’s […]
Read moreApple is building a brand new version of Apple Maps, TechCrunch said on Friday. People who live in the San Francisco Bay Area of California will reportedly get to try the new version first, beginning sometime next week when Apple launches a new iOS 12 public preview. Apple has tried to catch up with Google […]
Read moreAlthough the tax reform has created a friendlier environment for start-ups, regulations need to be pared down in order for the U.S. to stay competitive, said John Chambers, former Cisco CEO. “I give good marks to Congress and the administration in terms of beginning to get a better tax environment, but we’ve got to move […]
Read moreAmazon has poured billions of dollars into warehouse expansion during the past decade to make room for the massive influx of inventory the company is storing for third-party sellers. Now, it’s putting in place a program to force those sellers to use the space more efficiently, penalizing those who don’t. It’s part of Amazon’s effort […]
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