Kyle Baird / The Block : BitGo closed up ~2.7% at $18.49 per share in its NYSE debut on Thursday which saw shares jump as much as 36% int...
BitGo closed up ~2.7% at $18.49 per share in its NYSE debut on Thursday which saw shares jump as much as 36% intraday, after raising $212.8M in its IPO — Partner offers — Quick Take — Investors briefly bid shares well above the IPO price before the market snapped back near the $18 offering level.
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Adam Presser, previously TikTok's head of operations and trust and safety, will be the CEO of TikTok USDS Joint Venture; TikTok CEO Shou Chew will be a director — TikTok said Thursday that it formed a joint venture that will keep the video-sharing app operating in the U.S. under the leadership of an American executive.
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TikTok's new majority US-owned JV includes investors Oracle, Silver Lake, and Abu Dhabi's MGX, each holding 15%, and Dell Family Office; ByteDance retains 19.9% — Video app launches US joint venture with American investors to enact deal criticised by China hawks
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Source: the TikTok US deal values it at just around $14B; TikTok's US entity makes roughly $14B annually in advertising revenues alone, per analyst estimates — TikTok on Thursday closed a deal to divest its U.S. entity to a joint venture controlled by American investors …
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TikTok says ByteDance sold a majority stake in the app's US operations to a group of non-Chinese investors, including Oracle, MGX, and Silver Lake — TikTok said on Thursday that its Chinese owner, ByteDance, had sold a majority stake in the app's U.S. operations to a group of non-Chinese investors …
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Apple accuses the European Commission of “political delay tactics”, as the EC seems to be preparing to blame Apple for the shutdown of the Setapp app store — Apple Inc. accused the European Commission of using “political delay tactics” to postpone new app policies as a pretense to investigate and fine the iPhone maker.
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Sources: Amazon is planning a second round of job cuts next week as part of its goal of trimming 30,000 corporate workers, after cutting 14,000 jobs in October — Amazon (AMZN.O) is planning a second round of job cuts next week as part of its broader goal of trimming some 30,000 corporate workers …
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Epic v. Google: Epic and Google have a secret deal involving Unreal Engine, Fortnite, and Android, with Epic spending $800M over six years on Google services — “Sorry, I'm blowing this confidentiality.” … In a hearing in San Francisco today, the court revealed that Epic and Google …
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Intel reports Q4 revenue down 4% YoY to $13.7B, vs. $13.4B est., a $600M net loss, up from $100M in Q4 2024, offers soft Q1 guidance; INTC down 6%+ after hours — Intel reported fourth-quarter earnings on Thursday that beat Wall Street expectations but offered soft guidance for the current quarter.
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Capital One agrees to acquire Brex, which specializes in tech to administer corporate credit cards, expenses, and rewards, for $5.15B in cash and stock — Deal would give credit-card issuer access to technology used by thousands of companies for corporate credit cards
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