Publishers Clearing House (PCH) said Wednesday (April 9) that it filed for Chapter 11 bankruptcy protection to shed the cost of its legacy businesses and focus on digital advertising-supported entertainment. The company plans to eliminate its direct mail and online retail shopping and subscription businesses...
Artificial intelligence (AI) startup Builder.ai reportedly hired two of the Big Four auditing firms to go through its finances from 2023 and 2024. The company announced the audit after lowering its revenue estimates for the second half of 2024 by 25% and after unnamed former employees...
The House Financial Services Committee (HFSC) is reviewing more than 40 bills that aim to improve business’ access to capital. During a Tuesday (March 25) hearing, the committee assessed proposals that would make public markets more attractive, facilitate capital formation for companies that wish to...
Consumer robot company iRobot, maker of the Roomba robot vacuum, said in a Wednesday (March 12) earnings release that there is “substantial doubt” about its ability to continue as a going concern. The company’s board of directors has initiated a formal strategic review in which...
CarParts.com said Wednesday (March 5) that it has engaged a financial advisor and legal counsel to support its exploration of strategic alternatives, including a possible sale of the company. The eCommerce seller of automotive parts and accessories began this process after receiving inbound strategic inquiries,...
Middle-market companies are confronted with a volatile business environment that challenges their ability to make informed decisions and maintain competitive positions. According to the PYMNTS Intelligence eBook “10 Impact Statements,” 28% of middle-market companies reported operating under a high level of uncertainty from February 2024...
Investors in FinTech Revolut are reportedly pressing the company to consider a secondary share sale. As Bloomberg News reported Thursday (Feb. 28), this is happening as new investors are scrambling for stakes in the U.K.-based financial services firm. Sources tell Bloomberg that some shareholders have indicated an interest in selling...
Stripe’s investments in machine learning (ML) and artificial intelligence (AI) contributed to the financial infrastructure platform’s rapid growth in 2024, co-founders Patrick Collison and John Collison wrote in their annual letter to the Stripe community that was released Thursday (Feb. 27). “These bets continue to...
That which can be measured can be improved. The statement is often attributed to management consultant Peter Drucker. The right data, collected and analyzed at the right time, helps executives crystallize where they are, where they’ve been, and where they need to go when it...
