Finance

  • Insurance brokerage is broken Crunch Network

    Insurance brokerage is broken

    While many factors are driving the tipping point in the online distribution of insurance, the thread that ties it all together is simple: changing demographics. Insurance companies cannot expect to sell the same way to a cohort with fundamentally different purchasing habits and expectations. Players that can find new ways to sell insurance products — to new audiences that are used to… Read More

  • Torturing the ghost

    Torturing the ghost

    So we probably have our Satoshi. The Economist, GQ, and the BBC have all posted semi-breathless stories on their personal interactions with Craig Steven Wright, an Australian computer scientist and inventor. Dr. Wright was unmasked last year by Wired and Gizmodo who pointed to leaked emails and keys. Now Wright himself has come forward to claim the mantle of the most mysterious instrument… Read More

  • Amazon shares pop 10.6 percent following surprisingly good earnings

    Amazon shares pop 10.6 percent following surprisingly good earnings

    Amazon shares opened at $665.55 this morning, up 10.6 percent compared to yesterday’s closing price of $602. In other words, Amazon’s market capitalization just grew by nearly $30 billion. Yesterday, Amazon announced some blockbuster earnings. This was the company’s most impressive quarter. In particular, Amazon Web Services is growing like crazy and could generate well over… Read More

  • LinkedIn up 5% after beating earnings expectations

    LinkedIn up 5% after beating earnings expectations

    LinkedIn surprised Wall Street on Thursday, with better-than-expected first quarter results. Shares jumped about 5 percent in after-hours trading. The company reported adjusted earnings per share of 74 cents, significantly higher than the expected 60 cents. Revenue for the quarter was $861 million, above the anticipated $828 million and a 35 percent year-over-year increase. This was a… Read More

  • Facebook swells to 1.65B users and beats Q1 estimates with $5.38B revenue

    Facebook swells to 1.65B users and beats Q1 estimates with $5.38B revenue

    Facebook continued its winning streak as other tech companies floundered, reaching 1.65 billion monthly users and surpassing estimates in its Q1 2016 earnings report with $5.38 billion in revenue and $0.77 earnings per share. Facebook’s share price climbed more than 8 percent in the moments after earnings were announced, reaching more than $117 in after-hours trading. Revenue was up… Read More

  • Apple investors officially shave over $40 billion off Apple’s market cap

    Apple investors officially shave over $40 billion off Apple’s market cap

    It was bound to happen, but now it’s official. Apple shares opened at $96, down 8 percent compared to yesterday’s closing price of $104.35. But because this downswing is about Apple, 8 percent represents a lot of money. In just one night, Apple investors shaved around $43 billion off the company’s market capitalization. Read More

  • Practice safe financing Crunch Network

    Practice safe financing

    The convertible note is a useful and common financing structure in Silicon Valley. It’s a form of debt that is really more a type of equity — one where the valuation hasn’t been determined yet. It’s helpful because sometimes you want to align a new investor or bridge a company with extra capital, but not argue about the valuation or have to price the round yet. Read More

  • Remitly raises $38.5M more to take on Western Union, passes $1b transferred annually

    Remitly raises $38.5M more to take on Western Union, passes $1b transferred annually

    Remittances are a huge business, with $582 billion transferred in 2015 and $432 billion of that sent specifically to emerging markets, according to the World Bank. Today, one of the bigger startups in the field has raised some funds of its own to help it better tap the opportunity, and better rival established players like Western Union and others like WorldRemit and… Read More

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