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Belvo, a Latin American fintech startup which launched just 12 months ago, has already snagged funding from two of the biggest names in North and South American venture capital.

The company is aiming to expand the reach of its service that connects mobile applications in Mexico and Colombia to a customer's banking information and now has some deep-pocketed investors to support its efforts.

If the business model sounds familiar, that's because it is. Belvo is borrowing a page from the Plaid playbook. It's a strategy that ultimately netted the U.S. startup and its investors [...]

Fri, May 29, 2020, Continue reading at the source

Magic Leap talked a big game, and few were more responsible for fostering a cult of hype and excitement around its vision of the future than the company's founder and CEO Rony Abovitz. Today, the CEO announced that the company has indeed secured a new bout of funding, but that the company will be attempting to mount a major turnaround without him at the helm.

According to a memo sent to staff, first obtained by Business Insider, Abovitz will continue on with the company through a transition period but that the company has been “actively recruiting candidates” to replace him.

“We [...]

Fri, May 29, 2020, Continue reading at the source
Tesla SEC May 2020

Tesla's board certified a financial milestone that unlocks the first tranche — worth more than $700 million — of an unprecedented multi-billion-dollar pay package for CEO Elon Musk, according a document filed Thursday with the Securities and Exchange Commission.

The milestone allows Musk to purchase the first grouping or tranche of nearly 1.69 million shares at a steep discount. Tesla shares closed Thursday at $805.81, putting the value at $775 million. Musk is able to buy those stock options at a price of $350.02 per share.

“As of the date of this proxy statement, one of the [...]

Fri, May 29, 2020, Continue reading at the source

SpaceX has received authorization from the Federal Aviation Administration (FAA) to fly suborbital missions with its Starship prototype spacecraft, paving the way for test flights at its Boca Chica, Texas site. SpaceX has been hard at work readying its latest Starship prototype for low-altitude, short-duration, controlled flight tests, and conducted another static engine fire test of the fourth iteration of its in-development spacecraft earlier today.

Officially, the FAA has granted SpaceX permission to conduct what it terms “reusable launch vehicle” missions, which essentially means that the Starship prototype is now cleared [...]

Fri, May 29, 2020, Continue reading at the source

Edtech is booming, but a short while ago, many companies in the category were struggling to break through as mainstream offerings. Now, it seems like everyone is clamoring to get into the next seed-stage startup that has the phrase “remote learning” on its About page.

And so begins the normal cycle that occurs when a sector gets overheated — boom, bust and a reckoning. While we're still in the early days of edtech's revitalization, it isn't a gold mine all around the world. Today, in the spirit of balance and history, I'll present three bearish takes I've heard on edtech's future.

[...]

Fri, May 29, 2020, Continue reading at the source
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