In today’s top news, Uber is acquiring alcohol delivery startup Drizly, and Amazon marked its first $100 billion quarter. Plus, VEON has partnered with Mastercard to expand its digital financial inclusion services.
Uber is acquiring alcohol delivery service Drizly for $1.1 billion in stock and cash. The deal is set to conclude later this year, at which point Drizly’s marketplace will be integrated into the Uber Eats app, though there will continue to be a standalone Drizly app as well.
Amazon reported its first $100 billion quarter, but what’s captured more attention is the announcement that Jeff Bezos will step down as CEO, taking on the role of executive chair instead, in the third quarter of 2021. Andy Jassy will take over as CEO.
VEON has launched a strategic global partnership with Mastercard in order to boost its digital finance services, offering its customers in Russia, Pakistan, Ukraine, Kazakhstan and Bangladesh products that will be tailored to their needs. VEON works to provide digital services and connectivity to those who are traditionally underserved.
Alphabet Inc. reported that revenues jumped approximately 23 percent in its fourth quarter, and advertising revenue soared to $46.2 billion. And revenues for “Other Bets,” including the company’s Waymo self-driving offering and life sciences operations, were up approximately 14 percent year on year.
With the street cred burnished as pioneers of the Buy Now, Pay Later space, and executive stints at Adobe, PayPal and eBay, Mark Lavelle and Gary Marino have co-founded Deep Lake Capital, a special purpose acquisition company (SPAC) targeting FinTechs in the $75 million to $150 million range. As payments goes horizontal, they told Karen Webster, the time is right to bring the next crop of payments and commerce innovators to the public markets — the SPAC way.
First Boulevard, a neobank focused on the black community, will be among the first firms to pilot Visa Crypto APIs — allowing consumers to purchase, have custody and trade digital assets. Cuy Sheffield, head of crypto at Visa and Donald Hawkins, CEO and founder at First Boulevard explain how this new program helps acquire, retain and build wealth for First Boulevard customers by making crypto an economic empowerment tool.
Apps, everywhere, and it’s never been easier to trade on Wall Street — anyone can do it, but what’s missing is education and, perhaps, the long-term view. The volatility on the Street speaks to the power of social media and the ability to leap (into trades) before one looks.