US investment giant Fidelity in talks over £100m Starling Bank stake
Starling Bank, founded in 2014 by Anne Boden, booked its first monthly profit in October (Getty Images for TechCrunch)
US finance giant Fidelity is said to be in discussions over taking a £100m stake in Starling Bank amid surging interest in digital lenders.
Fidelity Management & Research (FMR), which manages trillions of dollars in assets, is in advanced talks to lead a fresh round of funding worth £200m, Sky News reported.
The US investment giant would contribute half of a new cash injection, with other blue-chip investors said to be in talks over the fundraising.
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Jan. 25, 2021
Content recommendation startup Taboola has announced it is merging with ION Acquisition Corp, a special purpose acquisition company (SPAC), based on a valuation of $2.6 billion.
Around $509 million will be invested in the startup, of which current shareholders will receive $100 million.
After deducting the costs of the deal, around $389 million will enter Taboola’s coffers, raising its cash flow after the merger to $600 million. The investment amount is being split 50-50 between the SPAC and investors like Fidelity Management & Research and Baron Capital Group. TheMarker first reported the merger between Taboola and ION.
A SPAC is a shell corporation that raises money from investors and then has two years to find a private company to merge with. ION is run by Jonathan Kolber, Gilad Shany, Avrom Gilbert and Anthony Reich. The merger requires approval by company shareholders and is expected to be completed in the second quarter of this year. Taboola’s deci
PHARMA: Biden Freezes Trump’s Lower Cost Insulin and Epinephrine Rule
Posted on 01/22/2021
Big pharma is smiling big right now. The big three insulin producers are Eli Lilly and Company, Novo Nordisk A/S, and Sanofi S.A., in which they dominate more than 90% of the world insulin market by value. After swearing-in, U.S. President Joe Biden’s HHS froze the Trump administration’s December 2020 drug policy that mandates community health centers to pass on all their insulin and epinephrine discount savings to patients.
The rule was finalized in late December 2020. The drug rule was put in place to benefit patients who have a hard time paying for expensive insulin and allergy medication. Former President Trump campaigned on lowering the price of important pharmaceutical drugs like insulin, which is used to treat diabetes, and epinephrine. Diabetes afflicts over a quarter of Medicare beneficiaries and drives billions in Medicare spending every year. More than 20 million Americans
British food-delivery company Deliveroo said on Sunday it had raised a further $180 million from existing investors, including minority shareholder Amazon, in a move that values the business at more than $7 billion.