In the final hours of President Biden's term, an anonymous prediction market trader placed lucrative bets on who would be pardoned even as the odds were nearly zero.
Rivian's stock fell over 15% after announcing a public offering of 75 million shares to raise approximately $1.51 billion. The funds will support a loan agreement with the U.S. Department of Energy. The offering follows Rivian suspending its 2027 profitability target and precedes the launch of its new R2 SUV.
The Weather Channel's dedicated smart TV app subscription has increased by 66.7%, from $3/month or $30/year to $5/month or $50/year. This price hike reflects the challenges legacy media companies face in the streaming industry.
Venture capital firm Chemistry Ventures, founded by former Bessemer, Index Ventures, and Andreessen Horowitz partners, is raising $500 million for its second fund. The firm focuses on early-stage startups in developer tools, fintech, and infrastructure.
Venture capital firm Chemistry Ventures, founded by alumni from Bessemer, Index Ventures, and Andreessen Horowitz, is raising $500 million for its second fund. The firm, which focuses on early-stage AI startups, has a portfolio including Granola and Decagon. The new fund is reportedly oversubscribed.
AI law startup Norm announced a $120 million Series C funding round led by Khosla Ventures, valuing the company at $1.2 billion. Norm Law uses AI agents supervised by human attorneys to offer legal services, charging based on outcomes.
Bidbus, a startup that connects car sellers with multiple dealers for competitive bidding, has raised $15 million in Series A funding. The platform aims to offer sellers higher prices than services like Carvana by leveraging dealer competition, with an average offer reportedly $2,000-$3,000 higher.
