Instacart Files IPO Plan Amid Slowed Sales Growth
Instacart filed its initial public offering plans on Friday. The company is looking to trade on the Nasdaq Global Select Market under the symbol CART.
The online grocery delivery platform's decision to go public comes as it seeks new sources of capital amid a slowdown...
Alibaba Misses Quarterly Estimate, Approves New Cloud-Computing Unit
Alibaba Group Holding Ltd reported its quarterly earnings on Thursday, narrowly missing its revenue estimates. This comes after the company announced that its board approved a spinoff of its cloud computing business.
The Chinese eCommerce giant reported revenue of 208.20 billion yuan ($30.12 billion) for the...
Softbank to Sell All of its Alibaba Shares
Japanese technology investor SoftBank Group Corp has decided to sell all of its remaining shares in Alibaba Group Holding Ltd, The Financial Times reported. This move saw Alibaba's stock sink by over 5.2% in Hong Kong on Thursday morning.
SoftBank has long been looking to monetize...
FedEx Faces Delivery Contractor Pay Dispute as Pandemic Boom Fades
Transport company FedEx is being pressured by Tennessee businessman Spencer Patton to increase its compensation for its delivery contractors. The 36-year-old businessman is one of the largest contractors for FedEx Ground; the business unit that relies on 6,000 contractors to deliver packages to homes...