World business news 02.06-.08.06

Deliverr, a shipping logistics business, was acquired by Shopify for $2.1 billion

Deliverr, a San Francisco, California-based e-commerce fulfillment firm, has been acquired by Shopify for $2.1 billion in cash and equity. The agreement, which was first reported by Bloomberg in April, is Shopify’s largest acquisition to date, and founder and CEO Tobi Lütke says it would allow the business to build a “end-to-end logistics” platform for millions of merchants.

In a blog post announcing the acquisition, Lütke stated, “Our goal is to not just level the playing field for independent enterprises, but to tilt it in their favor – turning their size and agility into their superpower.” “With Deliverr, SFN will provide a simple, powerful logistics platform to millions of developing businesses, allowing them to delight their customers.”

Lucid is increasing the price of its luxury Air EV by up to 13%

Starting June 1, the business said alongside its first-quarter earnings report that it would raise pricing on the variants of its luxury Air car. The price changes increase the basic price of the Air sedan by up to 13%.

The business stated that existing reservation holders will not face ticket increases and that updated pricing for Canada will be made public on June 1. Given that Lucid just revealed that it has 30,000 bookings for the Air, it will be some time before the business sees a return on these higher rates.

Larry Ellison is leading a group of investors who have contributed $7.1 billion to Musk’s Twitter purchase

Every day, we hear more about who is standing up to invest in Elon Musk’s quest to buy Twitter, like sands through an hourglass. Nearly two dozen investors have donated money, according to a Thursday filing, including Sequoia Capital, Binance, and Oracle co-founder Larry Ellison, who has $1 billion he isn’t doing anything with right now.

Zora Labs, an NFT firm, has raised $50 million from Haun Ventures

The NFT ecosystem is still chugging ahead, but the great bulk of traffic is still passing through the centralized halls of NFT marketplace OpenSea, leaving crypto VCs on the lookout for fresh avenues.

Haun Ventures, Katie Haun’s new firm, has made its first investment in NFT startup Zora Labs. The company is now worth $600 million thanks to a $50 million investment round.

‘I believe our finest days are ahead,’ says Daniel Ek, who invests $50 million in Spotify

Spotify co-founder Daniel Ek announced on Friday that he is investing $50 million in the music streaming service, sending its shares up over 3% to a high of $108.98 per share during regular trading hours.

Coinbase NFT sales volume has remained relatively stable since its April introduction

Unlike the line to get into an Apple store on the first day a new iPhone is released, the Coinbase NFT marketplace opened to the public this week, and unlike the line to get into an Apple store on the first day a new iPhone is released, not as many users are flocking to the service as the company may have expected. Perhaps we’re experiencing NFT weariness. You may make your own judgment as Jacquelyn reports on some expert opinions on what the problem might be — and whether there’s anything that can be done about it.

Stripe takes a swing at Plaid

The debut of Stripe’s new Financial Connections product, which TC’s Ingrid Lunden covered here, was perhaps the biggest news in the fintech sector this week. Yes, the product debut was newsworthy in and of itself. But it was the fact that it caused some debate, which is exactly what Plaid, a former Stripe partner, does, that elevated it in the world of newsworthiness. And it does so by allowing Stripe customers to connect directly to their customers’ bank accounts, as well as access financial data in order to speed up or complete specific types of transactions. Plaid does the same thing again.

Plaid CEO and co-founder Zach Perret responded to a post from Stripe PM Jay Shah in a since-deleted tweet, effectively challenging the “methods” in which Stripe might have acquired data when developing the product. Shah countered with a tweet of his own, defending his and his company’s conduct.

Socket receives $4.6 million in funding to audit and detect harmful open source code

Software is similar to any other product you make and sell in that it relies on leveraging components created by others, frequently in the form of source code, and ensuring that they don’t break or contain flaws that compromise the final result. The majority of the world’s software is based on open source code, which is produced by developers who share their work with the public. That also entails putting faith in the developers to always behave in good faith. However, projects are abandoned and picked up by others who install backdoors or malware, or, more recently, “protestware,” in which open source software developers update their code to delete the contents of Russian machines in protest of Russia’s invasion of Ukraine.


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