Maureen Farrell
Maureen Farrell
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Credit Suisse had surprise $20 billion exposure to Archegos investments

Credit Suisse had surprise $20 billion exposure to Archegos investments

Credit Suisse Group AG amassed more than $20 billion of exposure to investments related to Archegos Capital Management, but the bank struggled to monitor them before the fund was forced to liquidate many of its large positions, according to people familiar with the matter. The U.S. family investment firm’s bets on a collection of stocks swelled in the lead-up to , but parts of the investment bank hadn’t fully implemented systems to keep pace with Archegos’s fast growth, the people said.Credit Suisse Chief Executive Thomas Gottstein, and Chief Risk Officer Lara Warner, who recently departed...

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April 21, 2021
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WeWork Agrees to SPAC Deal That Would Take Startup Public

WeWork Agrees to SPAC Deal That Would Take Startup Public

Skip to Main ContentSkip to Searchhttps://www.wsj.com/articles/wework-agrees-to-spac-deal-that-would-take-startup-public-11616752804ByWeWork has agreed to merge with a special-purpose acquisition company in a deal that would take the shared-office provider public nearly two years to launch a traditional IPO.The planned merger with theSPAC values WeWork at $9 billion including debt, the companies announced Friday, confirming an earlier Wall Street Journal report. As part of the deal, WeWork would raise $1.3 billion, including $800 million in what is called a private investment in public...

March 26, 2021
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WSJ News Exclusive | Microsoft Is in Exclusive Talks to Acquire Discord

WSJ News Exclusive | Microsoft Is in Exclusive Talks to Acquire Discord

Skip to Main ContentSkip to SearchByandMicrosoft Corp. is in advanced talks to acquire messaging platform Discord Inc. for $10 billion or more, according to people familiar with the matter, as the software giant seeks to deepen its consumer offerings.Microsoft and Discord are in exclusive talks and could complete a deal next month, assuming the negotiations don’t fall apart, the people said.Originally favored by gamers, San Francisco-based Discord offers voice, text and video chatting. The platform’s popularity has surged since the pandemic took hold as people stay home and connect...

March 26, 2021
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DoorDash Is Expected to Price IPO at Around $102 a Share

DoorDash Is Expected to Price IPO at Around $102 a Share

Skip to Main ContentSkip to SearchByDoorDash Inc. is expected to price shares in its initial public offering at about $102 apiece, according to people familiar with the matter, a sign of strength both for the meal-delivery company .The price equates to roughly $39 billion using a fully diluted share count and including proceeds from the offering, which is expected to raise $3.37 billion. It is above the $90 to $95 a share range the San Francisco company had been targeting after boosting initial expectations it established last week.A $102 IPO price would cap a stunning run-up in the...

December 9, 2020
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WSJ News Exclusive | Airbnb, DoorDash Aim for Higher-Than-Expected Valuations Ahead of Debuts

WSJ News Exclusive | Airbnb, DoorDash Aim for Higher-Than-Expected Valuations Ahead of Debuts

Skip to Main ContentSkip to SearchByAirbnb Inc. and DoorDash Inc. are planning to release higher-than-expected valuation ranges for their initial public offerings, in the latest sign of strength in a booming market for new issues.Airbnb is planning to target a range of around $30 billion to $33 billion—using a fully diluted share count—when the home-rental startup kicks off its investor roadshow Tuesday, according to people familiar with the matter. That is people close to the offering had expected.DoorDash, meanwhile, plans to target a range of around $25 billion to $28 billion on a fully...

November 30, 2020
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DoorDash IPO Filing Shows Big Revenue Growth, Profitable Quarter

DoorDash IPO Filing Shows Big Revenue Growth, Profitable Quarter

Skip to Main ContentSkip to SearchByandDoorDash Inc. unveiled paperwork for its initial public offering on Friday, showing the food-delivery service has grown at a blistering pace during the pandemic and turned a surprising quarterly profit in June before falling back to a loss in September. The company’s revenue for the September quarter more than tripled from the same period a year earlier. Like many startups that give priority to growth, DoorDash still mostly loses money, and it hasn’t posted a full-year profit since its inception in 2013. Profits...To Read the Full StorySponsored Offers

November 14, 2020
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WSJ News Exclusive | SoftBank Nears $40 Billion Deal to Sell Arm Holdings to Nvidia

WSJ News Exclusive | SoftBank Nears $40 Billion Deal to Sell Arm Holdings to Nvidia

Skip to Main ContentSkip to SearchByandSoftBank Group Corp. is nearing a deal to sell British chip designer Arm Holdings to Nvidia Corp. for more than $40 billion, according to people familiar with the matter, the latest in a series of big asset sales by the Japanese technology conglomerate.The cash-and-stock deal being discussed would value Arm in the low $40 billions, the people said. The terms under discussion would mark a big win for SoftBank, which and had struggled to jump-start growth in the business.Arm and Nvidia have been in exclusive talks for several weeks and a deal could be...

September 13, 2020
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WeWork in Talks to Hire T-Mobile CEO John Legere

WeWork in Talks to Hire T-Mobile CEO John Legere

WeWork is in discussions with T-Mobile TMUS -1.98% US Inc. Chief Executive John Legere to take over leadership of the troubled office-sharing startup, according to people familiar with the matter. WeWork’s parent, formally known as We Co., is searching for a CEO who can stabilize the company following the erratic tenure of its co-founder Adam Neumann. After WeWork’s failed attempt at an initial public offering, SoftBank Group Corp. 9984 -1.01% bought a majority stake in the company last month in a bailout, severing most ties with Mr. Neumann. The startup is looking for a new leader who...

November 11, 2019
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