Convene raises $152M Series D round; poised to compete with major coworking chains
Earlier this week, Convene announced it had closed its Series D funding round at a massive $152 million. The latest funding brings the company’s funding total to $260 million. Convene, founded in 2009, is a coworking and meeting space with 20 locations in five cities across the country. Though Convene may not be as recognizable of a name as, say, WeWork, this latest funding round puts the company in a position to rapidly expand its business and become a major player in the growing coworking market. [Read More]
Walmart making New York City moves — but it’s not a store they’re opening
Love it or hate it, New York City remains one of the few metropolitan areas in the United States without a Walmart to its name. Now, the city will finally serve as home to a Walmart property. Don’t expect to see a mega-mart anytime, soon, though — instead of a store, the company will be opening a fulfillment warehouse for Jet.com located in the Bronx. The company hopes to compete with grocery deliverers like FreshDirect, which have found massive success in the busy city. [Read More]
High-end speaker company Sonos set to go public on Nasdaq
Sonos, the high-end speaker brand based in California, is preparing to go public via Nasdaq. Though details on the IPO are not yet finalized, Bloomberg reports that Sonos is seeking a valuation of as much as $3 billion. The offering comes at a time when smart speakers pushed by the likes of Google, Apple and Amazon are making waves in the hardware market. [Read More]
Are you one of the 21 million affected by the Timehop data breach?
You know Timehop, that fun app that reminds you of all of your cringeworthy social media posts from 2009? The New York City-based company reportedly fell victim to a massive data breach last week that potentially exposed the data of 21 million users. While names, email addresses and phone numbers were leaked, the company assures that private messages and financial data were unaffected. [Read More]
Judge decides angry Yelp reviews are perfectly fine
A case recently settled in the California Supreme Court system determined that Yelp cannot be held liable for the reviews posted on its site (even the really, really angry ones). The case was sparked by a lawyer who claimed that negative reviews on his Yelp page constituted defamation. Yelp fought back, claiming that despite serving as host to the content, it is not the author, and therefore not responsible. The ruling does not protect individuals posting on Yelp, however — just something to think about next time you’re feeling miffed about a bad pizza delivery. [Read More]
