Elon Musk’s SpaceX Will Be the Third Most Valuable Private Company in the Country After a $500 Million Fundraising RoundPosted: April 15, 2018
Elon told you so.
SpaceX filed paperwork in Delaware to raise an additional $500 million in capital, according to Equidate, a stock market for private technology companies that tracks such filings. Once the fundraising round is completed, the company’s value will have increased by approximately 25% in the last nine months, according to Equidate COO Hari Raghavan. It has more than doubled since 2015.
It’s not clear yet which investors will provide the cash, but the company has preferred to retain old investors than add new ones. Fidelity is rumored to be leading the round, and Musk is supposedly set to put up more equity in the company he founded out of his own pocket in 2002.
SpaceX confirmed the fundraising round, but did not share any details about how the capital will be used. Read the rest of this entry »
Source: New York Post
‘Woke Barbie’ Torches Mattel Profits, Company Anticipates ‘Margin Deterioration’ During Disappointing Christmas HolidayPosted: December 13, 2017
Chloe Aiello reports: Mattel anticipates “gross margin deterioration,” during what is typically the biggest shopping season of the year.
Struggling to stay afloat, Mattel released updated full year and fourth quarter guidance, anticipating a disappointing holiday season. The toy maker predicts “gross margin deterioration,” during what is typically the biggest shopping season of the year.
“The unfavorable year-over-year gross margin experienced during the first nine months of 2017 is expected to continue throughout the fourth quarter of 2017, as a result of unfavorable product mix, higher freight and logistics expense, and lower fixed cost absorption,” the company said in a filing with the Securities and Exchange Commission. “In addition, continued negative trends in top line performance for the balance of the year could result in additional gross margin deterioration as a result of higher inventory write-downs and discounts offered to clear inventory.”
Mattel said it expects its fourth quarter operating income margin to be significantly lower year-over-year, and anticipates 2017 full-year gross sales will decline by the mid-to-high single digits compared to 2016.
The revised guidance hints at worsening conditions within Mattel, which has watched its margins suffer for years from cheaper imports, competition from big box retailers and the impact of technology on toys.
“Based on preliminary quarter-to-date data for the fourth quarter, Mattel currently anticipates its gross sales during the fourth quarter of 2017 will continue to be negatively impacted by key retail partners moving toward tighter inventory management and by challenges in the Toy Box and certain under performing brands,” Mattel said in the filing. Read the rest of this entry »