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Stripe becomes the third most valued Silicon Valley start-up in the US

Catherina Ploumidakis

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Stripe
Image Credit: Flickr

The San Francisco based payments platform Stripe is mounting the gradation of being the most highly valuable Silicon firms.

On Thursday, the Fintech start-up announced a further $250mn funding round, bringing its worth to a whopping $35bn. This makes Stripe the third most valued startup in the US after Airbnb and Palantir Technologies.

According to Stripe, the raised sum of $250mn will be utilized to expand across the globe as well as unveil new products. General Catalyst, Andreessen Horowitz and Sequoia Capital and other investors participated in the round. The previous valuation of Stripe was $23bn.

Stripe basically develops software which lets businesses accept payments through the internet. The company processes these payments for a huge list of firms, including Shopify, Lyft and Airbnb. It earns by taking over a part of every transaction.

Founded in the year 2010 by Patrick Collison and John Collison, Stripe’s latest round has drastically increased its valuation. This valuation climb comes in at a time when a few high-profile technology startups have scuffled in the markets.

Lyft and Uber, which listed their shares publicly in 2019, are trading lower than the IPO price.  On the other hand, the troubled We Co. has postponed its this year’s public offering. In fact, the market value of WeWork has been a matter of concern for the investors.

John Collison informed that the firm does not have any plans for an IPO currently. Stripe is happy to remain as an independent firm, he continued, saying that it’s quite early for this opportunity.

Meanwhile, Stripe launched an all-new Corporate credit card as well as a lending arm known as Stripe Capital previously in September. The goal of Stripe Capital is to help online firms borrow money in order to expand their businesses.

Wall Street Journal was the first to report about Stripe’s new cash injection.

Catherina has joined the team as an intern, and she has been working hard to learn things quickly. Now, she handles the Technology and Business columns of the website along with Vicky. She writes the latest US Technology and Business news regularly on the website with accuracy. Since she is the youngest member of the team, she never hesitates to ask for help from other senior team members. That is the reason, she has been learning things quickly, and now she is becoming proficient. Apart from her work, she loves to read books and watch Business and Tech news. She is a fun-loving woman with a graceful personality.

Business

Best Buy Black Friday Sales 2019: Get Best Nintendo Game Deals, accessories, chargers 

Catherina Ploumidakis

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Best Buy Black Friday deals 2019
Image Credit: Wikimedia Commons

Here is good news for game lovers! Best Buy huge Black Friday 2019 sale starts with tons of savings for game lovers. It will have a long list of Nintendo Switch games and accessories and best Nintendo Switch Console deals. 

The Nintendo Switch bundle is seen in other Black Friday 2019 ads too even in 2018 ads as well. Nintendo is not a cheap console but Best Buy is a chance to get a perfect deal.

Best Buy 2019 will presents Nintendo Switch with Mario Kart 8 and a free screen protector for $299. With this, the sale will have various chargers, cases, docks, and other Nintendo Switch accessories on sale.

Best Buy Black Friday deals 2019

Image Credit: Best Buy

Here are the other deals of Best Buy 2019 Sale:

In Nintendo Switch accessories, you can get the Nintendo Controllers for $14.99. A $20 savings is not bad on Nintendo Switch Joy-Con Controllers. Nintendo Poke Ball  Plus is available at $19.99 with $30 savings. Similarly, be ready to get Insignia Power Pack at $12.50 with $12.49 savings. 

Nintendo Switch Games with $20 saving. Isn’t it a good deal? You will get Nintendo Switch Games for $39.99. It includes all the best games like The Legend Of Zelda: Breath of the Wild, Super Mario Odyssey, Super Mario Party, etc. The sale will make available the other Nintendo Switch Games for $24.99 with $15 saving. It includes games like Just Dance 2020, Crash Team Racing.

Nintendo games like Crash Bandicoot N. Sane Trilogy, LEGO DC Super-Villain will be available for $19.99. It includes LEGO Harry Potter Collection, LEGO Marvel Super Heroes 2, Disney Classic Games: Aladdin and The Lion King. 

Other Nintendo Switch Video Games provides deals like Spyro Reignited Trilogy at $24.99 with $15 savings, Starlink: Battle for Atlas at $9.99 with $50 savings. Ni no Kuni: Wrath of the White Witch, Final Fantasy XII: The Zodiac Age, Final Fantasy X/X2 HD Remaster. All these games are available at $24.99 with $25 savings.

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Business

Zac Posen’s Company is in a Sale Process As They Ran Out Of Time, Said Zac

Catherina Ploumidakis

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Zac Posen is shutting down his company
Image Credit: Instagram/Zac Posen

The 39-years old celebrity designer and former “Project Runway” judge Zac Posen is shutting down his company. The designer is known for his evening gown creations is about to take his final bow. 

Zac Posen told WWD that the board has made a difficult decision and the company is in a sale process. Vogue revealed that Posen’s s house of Z has informed nearly 60 employees to let go. The company has ceased its operations.

Here is how much Zac struggled to build this company

During New York, Fashion Week in September Posen just showed his spring 2020 collection. However, the company denied the items to ship. 

Even just before the announcement of cessation, the company tweeted about the pre-order of handbags by Zac Posen.

The official website of Zac Posen is also shutting down with the cessation of the Company. Now ZacPosen.com leads to an empty domain page.

Zac Posen started his business in 2001 when he was living with his parents. At that time, zac lives with his parents at a $ 15 per day allowance.

 Zac is called a boy wonder, after getting fame with the help of supermodel Naomi Campbell. He was referred to have a Sour reputation. And on the basis of his reputation, he was often compared with Ben Stiller’s arrogant model character in the film “Zoolander.”

Posen Designed the Wedding Gown of Katherine Macphee

Katherine Macphee is a famous friend of Zac Posen. Zac designed a custom wedding gown for Katherine’s wedding with David Foster in July.

Posen said – now I need to figure out my next move to share my creativity and my love. 

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Business

Google Fitbit Deal: Money Fitbit Founders are Actually Getting From Google

Catherina Ploumidakis

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Google Fitbit Deal

Fitbit, co-founders James Park, and Eric Friedman decided to hand off the company to Google. Park, 43, and Friedman, 42, was serving the Fitbit as CEO and Chief Technology Officer. The two men worked so hard to build such a known brand. But they end up selling the company to Google. 

Both Fitbit and Google fixed the deal at $2.1 billion. Park and Friedman walk away with $150 million before taxes as a result of selling their shares in the publicly-traded company.

Park said, Approximately 12 or more years ago, we set the company with a vision to make everyone healthier. He added that Fitbit will accelerate more with Google resources and global platform. It will actually make health more accessible to everyone. 

This data shows, Fitbit Company was actually in Loss

In June 2015, Fitbit company decides $20 price per share. However, Google is paying $7.35 per share in cash for Fitbit shares. On the first day of trading, Fitbit’s stock sprinted to close at $29.68. However, Over a period of time, Fitbit’s stock descended into single-digit territory. As Fitbit struggled to unveil new products and face down competition from rivals including Garmin.

It was June last year, the company’s stock closed above $7.35 a share. However, it hits an all-time low $2.99 per share in August this year. last year, the company posted a net loss of about $186 million. The deal between Fitbit and Google is set to be close in 2020.

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