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Poshmark Files For IPO After Posting Record Profits

PYMNTS

Secondhand eCommerce platform Poshmark filed for an initial public offering (IPO) after posting more than $30 million in profit across two consecutive quarters. “We We only recently became profitable and have experienced net losses. The Silicon Valley startup posted a net loss of $14.5 million last year.

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FinTech Revolut’s Losses Triple As Customer Base Grows

PYMNTS

With its losses mounting, the London-based digital bank may need to tap into its corporate reserves to keep up with its expansion plans. The company posted a total loss of $139.6 Revolut attributed the losses to its expansion into new markets and the introduction of new products. million (£106.5

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Swedish Startup Lendify Closes $115M Funding Deal

PYMNTS

Swedish peer-to-peer (P2P) lending startup Lendify has secured $115 million in funding from Insight Investment, according to a Bloomberg report on Wednesday (Oct. Lendify said the latest funding round will help the company advance its European expansion plans. Last year Insight Investment supported the digital lender with a 1.5

Startups 103
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Lyft’s Losses Ahead Of IPO To Test Markets’ Tolerance With Startups

PYMNTS

Lyft , the ride-hailing startup that’s going public via an initial public offering later this week, is shaping up to have lodged the most losses in the run-up to an IPO. The Lyft IPO will be a big test for investors’ appetite for startups that aren’t making money since the dot com boom and subsequent crash. that went public.

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Startups Hoard Cash, Accelerate Fundraising Timetables

PYMNTS

Tech startups fearing anticipated instability are scrambling to conserve an age-old commodity — cash — the New York Times (NYT) reported on Sunday (Nov. Following quick growth and easy funding, startups are starting to jump off the fast lane and follow a more conservative road map. . billion net loss. million, he said.

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CarMax, Micron, Under Armour and others

CFO News Room

in the premarket after its quarterly profit and revenue fell well short of estimates. in premarket trading after the chip maker reported a wider-than-expected quarterly loss and revenue that fell short of Wall Street forecasts. in premarket trading after reporting better-than-expected profit and revenue for its latest quarter.

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Coffee Startup Luckin Plans To Take On Starbucks In China

PYMNTS

Coffee startup Luckin plans to open 2,500 new stores in China this year to overtake Starbucks in the country. But the company recorded a loss of 800 million yuan ($116.34 Luckin plans to open a total of more than 4,500 stores by the end of 2019, which would overtake Starbucks, which has more than 3,600 stores in the country.