NYC councilman proposes bill that would end cashless businesses
Recent years have seen New York City businesses test a new payment model: cash-free checkouts with a cards-only policy. This has become especially common at fast-casual restaurants such as Dig Inn and Sweetgreen. Last week, Bronx-based Councilman Ritchie Torres introduced legislation that would put the kibosh on such practices, alleging that these cashless establishments, inadvertently or otherwise, discriminate against those who may have difficulty getting a credit card. The bill will continue to move through the committee system for review and eventual voting, meaning potential outcomes are yet unclear. [Crain’s]
PebblePost raises $31M Series C funding round
PebblePost has carved out a place in marketing history with their unique Programmatic Direct Mail tools that transforms online activity into targeted, physical mailings. This week, the company capped an already successful year with an extension of their Series C funding round. In addition to the $25 million the company raised in late August, PebblePost has added $31 million to the pot. Advance Venture Partners, Greycroft, RRE Ventures, Kickstart Seed Fund, Tribeca Venture Partners and Capital One Growth Ventures all participated in the round. The cashflow will be used to help build out the PebblePost customer platform. [Business Wire]
NeueHouse raises $30M to elevate co-working experience
Last week, we reported about a certain co-working space raising $3 billion. While NeueHouse’s $30 million venture round may seem like chump change by comparison, the company is forging a path all their own. NeueHouse, which currently has locations in Manhattan and Hollywood, will use the latest round of funding to expand operations, with new locations in existing markets and fresh cities alike. Ranger Capital Advisors, Revolt Ventures and Gaw Capital Partners all participated in the round. [Pulse 2.0]
New law says Uber, Lyft drivers must make minimum wage
New York City’s Taxi and Limousine Commission voted earlier this week to ensure that all ride-share-app drivers receive a minimum wage of at least $17.22 per hour. This new policy was no doubt influenced by statistics recently released by the TLC, indicating that more than 96 percent of all drivers for ride-share apps like Uber and Lyft make substantially less than the current minimum wage. [Washington Post]
Nike’s new NYC flagship is a tech dream come true
No, the latest addition to Fifth Avenue isn’t a NASA command center, it’s Nike’s new six-story, 68,000 square-foot flagship location, open just in time for the holidays. Even if you aren’t planning on picking up a fresh pair of Jordans, the store is worth a visit for the experience itself: the futuristic shopping destination is packed with tech-enabled features, including scan-to-try features through the Nike app, the “Speed Shop” that relies on local data to restock in-demand shoes and the Sneaker Lab, among others. The shop, located in Midtown, is open seven days a week. [Crain’s]
