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Money transfer startup Remitly reveals financial results in preparation for upcoming IPO

GeekWire

million net loss in 2020, doubling its annual revenue and cutting its loss nearly in half. million net loss in the first six months of this year. Remitly first signaled its IPO plans in June and is going public the old-fashioned way, offering an initial public offering of its shares.

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9 questions about Silicon Valley Bank’s collapse, answered

Vox

The bank is closed. Justin Sullivan/Getty Images Tech’s favorite bank just failed. If you work in tech , you had probably heard of Silicon Valley Bank before now. If you’re not familiar with this seemingly regional bank, nobody’s blaming you. Anyway, you’re here now — Silicon Valley Bank isn’t. trillion or so.

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The spectacular implosion of crypto’s biggest star, explained

Vox

Whether or not you’re a crypto person , chances are you’ve come into some sort of contact with FTX and its founder, Sam Bankman-Fried — better known as SBF — in some fashion. In a matter of days, his empire has exploded in a rather spectacular fashion. Billions of dollars have been wiped from Bankman-Fried’s net worth.

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The spectacular implosion of crypto’s biggest star, explained

Vox

Whether or not you’re a crypto person , chances are you’ve come into some sort of contact with FTX and its founder, Sam Bankman-Fried — better known as SBF — in some fashion. In a matter of days, his empire has exploded in a rather spectacular fashion. Billions of dollars have been wiped from Bankman-Fried’s net worth.

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The billionaire vibe shift

Vox

High-fashion institutions cut ties with him, and Adidas ended its collaboration with him on the fashion line Yeezy, leaving Ye no longer a billionaire, according to Forbes. You can’t really see into their bank accounts; you know about 0.1 He “just revealed billionaires are not smarter than you,” Giridharadas told Vox.

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FTX’s implosion and SBF’s arrest, explained

Vox

In a matter of days in the fall of 2022, his empire exploded in a rather spectacular fashion. Billions of dollars have been wiped from Bankman-Fried’s net worth, who now says his wealth is in the tens of thousands of dollars; FTX is bankrupt. It didn’t get one. The picture emerging is an ugly one.

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Big tech’s 2021 earnings were off the chart

The Verge

Despite the ongoing COVID-19 pandemic, the fluctuating economy and job market, supply chain issues, semiconductor shortages, and other socioeconomic issues, major tech firms didn’t just manage to scrape out some tiny margins of revenue last year: they more or less broke the bank with some of the biggest annual revenue increases ever.