188.90 +0.43 (0.23%)
Pre-Market: 4:03AM EDT
|Bid||188.80 x 3200|
|Ask||188.89 x 800|
|Day's Range||187.29 - 194.53|
|52 Week Range||123.02 - 218.62|
|Beta (3Y Monthly)||1.33|
|PE Ratio (TTM)||27.97|
|Earnings Date||Jul 23, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||222.30|
Republican Senator Josh Hawley says he is concerned about Facebook's behavior, size and "anti-competitive condusct."
U.S. stocks rose and Treasury yields declined as investors awaited Federal Reserve’s monetary policy decision and considered indications of further stimulus from other major global central banks.
Facebook reveals plans to launch cryptocurrency called Libra. The project is also backed by partners including Paypal, Uber, and Mastercard. R "Ray" Wang, Constellation Research Principal Analyst & Founder, joins Yahoo Finance's Seana Smith to discuss.
How Instagram is exploiting Sudan's deepening political crisis
Facebook announced the details of its widely-rumored cryptocurrency project: a financial services offering called Calibra. Calibra is a “newly formed Facebook subsidiary” and its first product, launching in 2020, will be a digital wallet to store and send Libra, a new cryptocurrency. The group behind the cryptocurrency is the Libra Association, which has 29 founding members including some big names like Visa, MasterCard, Uber, Lyft, eBay, and Spotify. Libra Association's Head of Policy, Dante Disparte talked to Yahoo Finance's Dan Roberts, Heidi Chung and Myles Udland about the cryptocurrency and partnership.
Facebook announced the details of its cryptocurrency project, a digital wallet called Calibra, which will store and send a new cryptocurrency called Libra. Frank Chaparro, Director of news at The Block, joins Yahoo Finance with his take.
Facebook has finally revealed the details of its cryptocurrency, Libra, whichwill let you buy things or send money to people with nearly zero fees
European Central Bank President Mario Draghi turned ultra-dovish in a speech in Portugal on Tuesday. Is this a motivation for Federal Reserve Chairman Jerome Powell and his cohorts to cut interest rates as they meet this week? President Trump on Tuesday blasted Draghi because stimulus in Europe means a lower euro versus the dollar, giving an edge to European companies in their exports to the U.S. On the other hand, the U.S. stock market is encouraged by Trump’s tweet of a “very good” phone call with President Xi of China and the news of an extended meeting with him at the G20.
Alphaville suggests a corollary for new financial technology: it's initially sold as something that will help the unbanked, and it's actually used to sell drugs (or to pay for people to smash eggs on themselves). To start with, Facebook is addressing two different problems here.
(Bloomberg) -- Wolt Enterprises Oy, a food delivery startup based in Helsinki, Finland, has landed $130 million in new investment to increase its European expansion and fund a hiring spree.The investment was led by Iconiq Capital, a firm that manages money for well-known Silicon Valley entrepreneurs, including Facebook Inc. founder Mark Zuckerberg. Highland Europe, a London-based venture capital fund, EQT Ventures, the venture capital arm of Swedish private equity group EQT and Helsinki-based Lifeline Ventures also invested, the company said in a statement.An earlier $30 million investment round led by Israeli venture capital firm 83North closed in January 2018. The valuation terms of the funding rounds were not disclosed.Wolt will use its new funding to accelerate its growth, adding new cities and countries, Miki Kuusi, Wolt’s 29-year-old co-founder and chief executive officer, said in an interview. He also said the company would invest "heavily" in marketing and new customer acquisitions, and would hire an additional 1,000 individuals in the next 18 months. It currently employs about 450 people.The startup, which was founded in Helsinki in 2014, delivers food in 50 cities across 15 European countries, primarily in a corridor running south from Helsinki through Tallinn, Estonia to Prague and Athens and then to Tel Aviv.While larger food delivery services Deliveroo and Uber Technologies Inc.’s Uber Eats have largely concentrated on cities with populations well above 1 million people, Wolt has gone after smaller markets where population density is lower.With fewer orders per hour and longer distances for couriers to cover, it’s harder to make the unit economics of food delivery work in these less dense areas. Kuusi said that Wolt had used machine learning algorithms that predict order flow and optimize courier’s routes.Wolt can enter a small city, with 30,000 to 40,000 people, and reach a break even or cash flow positive state within weeks of launching, Kuusi said. "Then when we go to a big city, this is a lot easier because we get so much more volume and our optimization is so much more efficient," he said.Deliveroo, which has raised $1.5 billion to date including a recent $575 million investment round led by Amazon.com Inc., also announced last week that it plans to expand into the U.K.’s suburbs and smaller towns this year, with the goal serving 50% of the British population, up from just a third of it currently.So far, Wolt and Deliveroo do not overlap in any market, Kuusi said, adding he was not afraid of better-funded competitors. "If you have the right product and the right technology, it’s not about how much money every player has," he said.Johan Svanstrom, a partner with EQT Ventures, said Wolt is well-positioned to play a role -- either as an acquirer or a target -- in a wave of consolidation that he predicts will begin to sweep the food delivery sector. "Any time there are consolidation games going on you want to have a seat at the table, and Wolt does," he said.To contact the reporter on this story: Jeremy Kahn in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Nate LanxonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Most people missed Mark Zuckerberg’s first hint that Facebook was preparing his boldest bet in years . Buried in the penultimate paragraph of his 2018 New Year missive , Mr Zuckerberg said he intended ...