Walmart was the lead buyer for months in talks to buy online pharmacy start-up PillPack. But Amazon swooped in, ultimately making a higher offer of around $1 billion. Losing that deal ended up costing Walmart about $2.3 billion, at least in terms of market value. Here’s how. According to a person familiar with the discussions, […]
Read moreCalifornia Governor Jerry Brown on Thursday signed data privacy legislation aimed at giving consumers more control over how companies collect and manage their personal information, a proposal that Google and other big companies had opposed as too burdensome. Under the proposal, large companies, such as those with data on more than 50,000 people, would be […]
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Amazon wiped out $17.5 billion from eight companies’ market values Thursday with just two announcements. The e-commerce giant has become a force on Wall Street. Even a hint it might take on a new industry can send investors running and stocks tumbling. That was evident Thursday. Amazon said it would recruit entrepreneurs to run local […]
Read moreInvestors don’t seem to have much confidence in Walgreens Boots Alliance, and the drugstore chain hasn’t said much to ease their concerns. Walgreens is testing new concepts, including adding optical and vision services to some stores. It’s also partnering with health-care companies, such as insurer Humana to open two senior-centric stores and LabCorp to offer […]
Read moreTesla is sending out e-mails to all Model 3 reservation holders in North America this week informing them that their electric sedans are ready to order and asking for an additional $2,500 to fulfill their orders. The move could help Tesla in its drive toward profitability this year. CEO and chairman Elon Musk has promised […]
Read moreInstagram Stories now has double the number of daily active users as competitor Snapchat, according to Instagram. The Stories feature, which allows users to share ephemeral photos with their followers, is up to 400 million daily users, Instagram said on Thursday. Snapchat pioneered the photo stories model and reported 191 million daily active users for […]
Read moreAmazon’s acquisition of online pharmacy PillPack is a “shot across the bow” for retail pharmacy chains, said Anthony Chukumba, managing director of Loop Capital markets. On Wednesday, a day before Amazon announced the deal, Loop Capital raised its price target for Amazon to $1,900 from $1,800. Chukumba told CNBC’s Power Lunch on Thursday that PillPack […]
Read moreTwitter CEO Jack Dorsey announced some major executive restructuring at the social media network on Thursday, just as Ed Ho, its vice president of product and engineering, announced he would step down into a part-time position. Kayvon Beykpour, general manager of video and former Periscope CEO, will take over for Ho on the product end, […]
Read moreBusiness social network and recruiting tool LinkedIn is increasingly relying on technology from its parent company, Microsoft. On Thursday LinkedIn said it’s tapping a service running in Microsoft’s cloud data centers to translate the text of its users’ posts into different languages. The decision suggests that LinkedIn is becoming more integrated into Microsoft’s own systems, […]
Read moreAmazon’s PillPack acquisition on Thursday is more than just a sign of the e-commerce giant’s growing interest in the pharmaceutical market. It also underscores a more aggressive buying pattern. With the PillPack deal, which is reported to be worth around $1 billion, Amazon has spent almost $2 billion on acquisitions in the first six months […]
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