Inspired by the 100 Yen shops in Japan and similar retail concepts in Europe and the U.S., Chinese entrepreneur Ye Guofu and Japanese designer Miyake Junya founded the low-cost variety store chain MINISO in 2013. Over the last five years, MINISO has been the fastest-growing retailer in China, according to Euromonitor International. Now, the company has a global empire of 3,500 stores in 79 countries with total sales of $2.6 billion USD in 2018.
We’ve seen an interesting trend in Europe over the last few years. The average amount of time VCs are spending reading a deck has increased and not by a small amount. We’ve seen an increase of more than 20 seconds between 2018 and now, even while the length of the standard fundraising deck has stayed stable. It’s still within the industry average (both in and outside of the U.S.) of 19-20 pages. With page length staying stable, that extra time on a deck means VCs are willing to spend more time assessing an investment.
But as Casper grew, competitors saw an easy opportunity and rushed in, with an average of one new “bed-in-a-box” company launching per week between 2015 and 2018. There are now 175 competitors in the market, according to GoodBed, a mattress comparison website. There are even copycats from the older mattress companies, like “Cocoon by Sealy.”
Snowflake, the cloud-based data warehouse company, doesn’t tend to do small rounds. On Friday night word leaked out about its latest mega round. This one was for $479 million on a $12.4 billion valuation. That’s triple the company’s previous $3.9 billion valuation from October 2018, and CEO Frank Slootman suggested that the company’s next finance event is likely an IPO.
One might imagine that Musk, who has always spoken his mind, has been emboldened of late thanks to the skyrocketing value of Tesla of late. But Musk has long been a critic of Facebook, tweeting in 2018 after deleting his companies’ Facebook pages that he doesn’t “like Facebook. Gives me the willies. Sorry.”
Singh joins ErisX from quantitative trading firm Hudson River Trading, where he was a business operations manager. Prior to Hudson River, Singh was chief risk officer and director of analytics at market making firm Sun Trading, which Hudson River acquired in 2018. Singh has also held similar positions at Stark Investments and UBS Investments Bank.
The U.S. government has responded in kind, raising its spending on Chainalysis every year, the data show. It paid the company over $5 million in 2019, a 20 percent increase from 2018 and a 22,558 percent increase from 2015, when the FBI and the Internal Revenue Service were Chainalysis’ only federal clients.
While the agreement could help some farmers and other industries sell into and invest in Kenya, it is unlikely to have much influence on the American economy overall. Kenya is the United States’ 98th-largest trading partner in goods, with $1 billion in two-way trade in 2018, according to the Office of the United States Trade Representative. Kenya’s biggest American imports include aircraft, machinery and agricultural goods; the United States buys Kenyan apparel, tree nuts and coffee.
ASB's cash net profit, which excludes one off items like the Aegis sale, hit $614 million - a flat result on the same prior period in 2018.
Once a popular medium for laundering drug money, cryptocurrency exchanges now require disclosures that make operations like Helix less common. In 2018, more than 40 alleged dark-web drug dealers were arrested as part of a federal sting effort targeting darknet vendors. By offering cash for bitcoin, Homeland Security agents traced more than $20 million in drug-linked cryptocurrency transactions to individual dealers.
Oncimmune reported this week that its revenues for the first half of 2019 were £310,000 ($404,000), compared to £120,000 in the first half of 2018. R&D costs were £1.0 million, up from £690,000. The firm’s comprehensive loss for H1 2019 after tax was £5.8 million, compared to £3.9 million in H1 2018. Oncimmune’s cash balance at the end of the period was £7.5 million.
Bonello was previously the chief strategy and corporate development officer at NeoGenomics and will continue as director of investor relations, which he's been since 2018. Before joining NeoGenomics, he was a healthcare equity analyst at Craig-Hallum and senior VP for investor relations at Laboratory Corporation of America.
Abbott announced Miles White will be stepping down as CEO on March 31, 2020 after 21 years in the position, and will be replaced by Robert Ford. Ford has been the president and COO of Abbott since October 2018, and was appointed to the board. Before that, Ford was the executive VP of medical devices at the company, and has been at Abbott since 1996. Miles will remain executive chairman of BD's board.
Enter Synthace, the startup developing Antha, a language and software platform specifically for biology. In 2018, the company raised a £26 million series B round led by Horizons Ventures, to continue to develop their cloud software platform. With clients and partners such as Microsoft, Merck, Oxford Biomedica, LabGenius and Princeton, the company is fast becoming the pioneer in so-called "Computer-Aided Biology."