Equity Line goes down
Sep 19, 2022
Global stock markets are in a slump, with cryptocurrencies following suit, leaving many wondering about the momentum post-Ethereum merge. Instacart's IPO strategies raise eyebrows, especially since they're not looking to offload much stock, indicating financial stability. The tech landscape is rife with news, like Ola’s job cuts and a merger between delivery startups in Sweden. Additionally, a new venture fund for African fintechs emerges, while industry giants like Take-Two face unexpected hurdles.
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Market Downturn
- Global stock and crypto markets are down, with crypto experiencing steeper declines.
- The Ethereum merge, though successful, didn't boost prices as expected, perhaps because it was already priced in.
Instacart IPO Insights
- Instacart's IPO is still on, and they plan to sell mostly employee shares, not many new shares.
- This suggests Instacart has sufficient cash and isn't burning through it rapidly.
Ola Layoffs
- Ola is cutting 200 engineering jobs, totaling over 1,200 job cuts this year.
- This is part of a larger trend of tech companies streamlining operations and improving finances.