Bankrupt commercial EV startup Arrival has sold some of its assets, including advanced manufacturing equipment to Canoo, another struggling startup trying to build and sell electric vehicles. The acquisition, which was touted as a cost-saving measure that will reduce capital expenditures by 20%, comes as Canoo struggles to move beyond prototypes toward commercial production. Canoo […]
Ambani’s Reliance and Disney merge India media assets to form $8.5B joint venture
Reliance, its portfolio Viacom18 and Disney are merging their media businesses in India, creating the largest media entity in the world’s most populous nation. Reliance, which will control the joint venture, directly owns 16.34% of the merged entity, which it has valued at $ 8.5 billion. Disney will own a 36.84% stake in the merged […]
Bootstrapped for 8 years, Xensam has now snapped up $40M for AI that manages software assets
Software asset management — an area of enterprise IT designed, in part, to help companies save money — continues to draw a lot of money itself. In the latest development, Xensam — a startup out of Stockholm that provides AI-based tools to help businesses understand and track where and how software is being used — […]
Yandex takes a big hit to get rid of Russian assets
Listen here or wherever you get your podcasts. Hello, and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This is our Monday show, in which we look back at the weekend and the week ahead. A big thanks to Maggie for stepping back into […]
EV startup Arrival looks to sell off assets, intellectual property of UK division
Commercial EV startup Arrival’s business continues to unravel. Arrival announced Monday in a regulatory filing that its U.K. division is entering administration, the country’s version of bankruptcy. The troubled company, which went public in 2021 via a merger with a special purpose acquisition company, said it’s looking to sell its U.K. assets and intellectual property […]