Tesla rival Rivian snags $2.5 billion investment led by T. Rowe Price

Electric vehicle startup Rivian, which is backed by Amazon and Ford and aims to put an electric pickup and SUV in production in 2021, boosted its war chest further with a $2.5-billion investment round led by T. Rowe Price, Rivian said Friday. The deal comes on the heels of electric-car maker Tesla’s meteoric rise in […]

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Amazon to buy self-driving technology startup Zoox

Amazon has agreed to buy California-based self-driving startup Zoox in a deal reported to be worth more than $1 billion that gives it options to use autonomous technology in either ride-hailing or its delivery network. The world’s largest online retailer has stepped up its investment in the car sector, participating in self-driving car startup Aurora […]

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A Multibillion-Dollar Opportunity: Virus-Proofing the New Office

Truework, an income verification start-up, recently introduced software to help employers keep track of their workers’ health status. Gensler, an architecture and design firm, has a workplace floor-planning app that generates social-distancing layouts for desks and other office furniture. PwC, the professional services firm, is using technology that it originally developed to track inventory for […]

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Quibi asks top execs to take 10 percent pay cut as layoffs loom

Quibi, the new start-up from Hollywood mogul Jeffrey Katzenberg, is in cutting mode already. Just a month after it launched on April 6, the mobile streaming service is asking senior executives to take a 10-percent pay cut as coronavirus lockdowns have squelched demand for its short-form videos, which are aimed at people on the go. […]

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At-Home Coronavirus Testing Might Be Too Good to Be True

Everlywell, a Shark Tank–featured health and wellness startup based in Austin, Texas, jumped the gun on self testing for COVID-19 in mid-March, when it claimed it would be offering at-home test kits for $135 a pop. At that point, the United States had only had a little more than 7,000 lab-confirmed cases of coronavirus, and […]

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Faraday Future’s bankrupt founder gets OK for reorganization plan

The billionaire founder of electric-car startup Faraday Future — who boldly challenged Tesla with a far-out car design in 2015, only to file for personal bankruptcy last fall — said Friday his Chapter 11 restructuring plan has won court approval. The nod from a federal bankruptcy judge is a win for Faraday Future’s ex-chief executive […]

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Uber still haggling with GrubHub over price for acquisition: report

Uber’s attempt to gobble up rival food delivery startup GrubHub isn’t a done deal just yet, as the both sides are reportedly still squabbling over price. News of the acquisition talks sent shares of GrubHub up nearly 30 percent Tuesday, but they slipped slightly by 3.7 percent Wednesday as details of firm numbers remained scarce. […]

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Angry WeWork tenants hire lawyers in effort to claw back rent

WeWork’s tenants are lawyering up. Attorneys for cash-strapped clients of the office-subleasing startup are demanding that the company stop billing them for office space they can’t use because of coronavirus lockdowns and that it return the cash it has already collected for April and May. “As long as this pandemic prohibits our clients from using […]

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Start-Ups Pursue ‘Free Money’ With Relief Funds, Prompting Backlash

Domio, a start-up that offers short-term rentals, has its headquarters in a New York City loft that features beer on tap, a game room and a wall of house slippers for visitors. The fast-growing and unprofitable company has raised $117 million in venture capital, including $100 million in August. When the coronavirus pandemic caused Domio’s […]

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