A lawsuit filed on March 8 claimed that Sequoia Capital’s partner Michael Goguen has sexually, physically, and emotionally abused a woman for 12 years. Mr Goguen has been dismissed from the firm regarding the case and is seeking to file a cross complaint and prove he’s not guilty of the alleged crimes.
Firm Management
Instagram Will Start Reordering Feeds Based on Likelihood Algorithms Instead of Posting Time
Instagram announced its decision to apply algorithms to reorder feeds, showing posts based on likelihood instead of time. Instagram is the latest among other social media giants to embrace such change.
Lyft Teams Up With GM to Launch Car Rental Program as It Aims to Get More Drivers
App-based ride-hailing service Lyft announced its new initiative with GM, a car rental program called Express Drive. Aiming to grow its base of drivers, the new program will allow drivers to apply without owning a qualifying car but renting in instead.
WPP To Announce £60 million Pay Package For Its CEO, Ignoring Investors’ Previous Massive Protest
Share prices of WPP have been witnessed to rise by 98% between 2011 and 2015. Acknowledging WPP CEO Sir Martin Sorrell’s efforts, the world’s largest ad firm is going to announce £60 million Pay Package for him. But the ad agency’s move may again face opposition from the shareholders following earlier precedence.
Fastjet Bows To Founder’s Call Removing CEO And General Counsel With Immediate Effect
Fastjet founder Stelios Haji-Ioannou has called for removing its CEO and suggested for other restructuring. Though the African budget carrier has decided for keeping the CEO as an advisor for another year, but finally decides to address its founder’s call. However, the founder has accused the Fastjet CEO for representing unrealistic revenue forecast.
Latest News
Australian tech companies are heading to Singapore to support their businesses. Some tech companies are expecting Singapore to be one of the startups landing pads established by the Australian government to help companies access the global business network.
General Motors is moving forward to compete in the autonomous car markets. The giant automaker has acquired a driverless cars software maker, Cruise Automation, for reportedly more than $1 billion.
Due to a cyanide spill in a mine in Argentina, Canadian-owned Barrick Gold is facing a fine of $9.3 million imposed by the local government. Nine current and former employees are also being held as defendants over accusations of negligence that caused the spill.
Bosch is seeking to transform itself from equipment manufacturers to service providers. The company has launched its own cloud computing network and is determined to develop its Internet of Things technology and software to be better.
Jessica Alba’s Honest Company is facing allegations of using harsh chemicals it claimed to never use. Two test labs initiated by the Wall Street Journal showed a significant amount of the chemical SLS, but the company strongly denied using the chemical in manufacturing.
Facebook has just acquired a popular face-swapping app MSQRD by the company Masquerade. The acquisition comes after Facebook’s attempt to take over Snapchat, the instant messaging app with the similar feat. The details on the acquisition were not disclosed.
Kenya Airlines has recorded an annual loss of $690 million during 2015. Following the ever largest corporate debacle in Kenyan history, the struggling national carrier has revealed bailout plan for $690 million. The plan needs to get approval in the board meeting scheduled to take place on Thursday.
The sales of Honda’s first five-seater fuel cell vehicle has began in Japan, and the Clarity Fuel Cell is planned to enter the European and U.S. market later this year. The new fuel cell car is seeing some performance improvement and only takes three minutes to refuel its compact fuel cell stacks.
Constellation Brands is recalling Corona 12-pack and 18-pack bottles over concerns that there may be glass particles inside the bottle. So for the company has not received reports of any injury caused by the issue.
