Tag results for: Business

Global software investor, Insight Partners, today announced the final closing of its twelfth flagship fund, along with a dedicated co-invest fund that will participate in certain investments alongside the flagship fund ("Fund XII" or the "Fund") to invest in global high-growth technology, software and Internet businesses. Fund XII closed with total capital commitments in excess of $20 billion. This marks...

SoftBank Group Corp. said it plans an initial public offering for Arm Ltd. after Nvidia Corp. abandoned a proposed acquisition of the chip designer in the face of fierce opposition from regulators and customers. The Japanese company said it’s aiming for an IPO in the U.S. in the fiscal year ending in March 2023. In addition, Arm President Rene Haas is taking over...

Peloton on Tuesday slashed its financial outlook for the full year after the company announced CEO John Foley will be stepping down, as part of a broader restructuring of the business. It now sees fiscal 2022 revenue within a range of $3.7 billion to $3.8 billion, down from a prior range of $4.4 billion to $4.8 billion. The company said it expects...

Spirit Airlines and Frontier Airlines expanded aggressively over the last decade offering travelers no-frills service in exchange for ultralow airfares. Their executives vow to keep it that way, even if the carriers complete their $6.6 billion merger, which would turn them into a discount behemoth and the country’s fifth-largest airline. Frontier will have a controlling stake. “Our business model is built on low fares...

Billionaire tech investor and PayPal Co-founder Peter Thiel will step down from the board of Facebook owner Meta, the company announced Monday. Thiel, an early Facebook investor and close confidante of CEO Mark Zuckerberg, will not stand for re-election to the board at the company’s 2022 annual stockholders’ meeting. He will continue to serve on the board until the annual meeting, the company said. Thiel has...