Start-up
The shark tank effect: How entrepreneurship is rising in small cities
LEAD PICTURE This report is from this week’s CNBC’s “Inside India” newsletter, which brings you timely, insightful news and market commentary on the emerging powerhouse. Subscribe here. The big story 31-year-old Aarushi Kilawat is a fashion entrepreneur from India’s Jaipur, a small city with less than 5 million residents — a far cry from Indian metropolises […]
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Ray Dalio, JPMorgan back billion-dollar berry farmer Fruitist in new $150 million funding round
Fruitist, the healthy snacking company known for its jumbo blueberries, has raised $150 million in an equity funding round led by new investor J.P. Morgan Asset Management, with billionaire Ray Dalio’s family office doubling down on its existing investment in the farming startup. The company, valued at over $1 billion, is growing distribution rapidly in […]
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I joined a 24-hour ‘vibe coding’ hackathon and helped build an app – here are my biggest takeaways
CNBC correspondent Ernestine Siu attended an AI hackathon. Courtesy of Ernestine Siu I like to spend most of my weekends taking workout classes with friends, exploring new restaurants or vegging out on the couch with a movie on. The past weekend, however, was unique. Instead of the usual routine, I chose to immerse myself in […]
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For workers in young, hot world of AI careers, the dream payday is as often ending as layoff nightmare
Jose Luis Pelaez Inc | Digitalvision | Getty Images At around the same time Accenture announced its investment in data labeling startup Snorkel AI to power its financial services clients in August, the startup announced it was laying off about 13% of its staff. It wasn’t alone. When Meta took a massive stake in Scale […]
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38-year-old quit his job, spent $50,000 to launch a company from his Bronx apartment—now billionaires wear his luxury coats
It was 95 degrees when the first prototype of a Norwegian Wool jacket arrived at Michael Berkowitz’s apartment in The Bronx, New York, in August 2014. Needing to test the waterproof knee-length wool coat without getting heat stroke, the founder and CEO of the then-fledgling apparel brand took it to a supermarket in West Harlem. […]
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Fintech startup Upgrade valued at $7.3 billion in new funding round
Key Points Upgrade, a provider of online loans and other financial services, said it raised $165 million in its first funding round since 2021. The startup is now valued at $7.3 billion, according to CEO Renaud Laplanche. Neuberger Berman led the round, with participation from LuminArx Capital Management. Source
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Risk-averse parents are fueling Britain’s ambition crisis, VCs say
Mother and daughter using the laptop at home Fg Trade | E+ | Getty Images Concerns of an entrepreneurial ambition deficit in the U.K. have led some venture capitalists to question the role of risk-averse parents and a costly education system in disenfranchising young British people from becoming founders. Last month, U.K. Business Secretary Peter […]
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OpenAI’s dominance is unlike anything Silicon Valley has ever seen
OpenAI DevDay Ashley Capoot | CNBC Virtually every successful tech startup throughout history has faced the reality that it could get swallowed up or run over by a large incumbent at any moment. It’s part of daily life for an entrepreneur. But the company at the center of the current boom is a different kind […]
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U.S. founders are ‘shameless’ with feedback and Europe’s should do the same: OpenAI’s startup boss
OpenAI’s EMEA startups head Laura Modiano spoke at the Sifted Summit on Wednesday, 8 October. Nurphoto | Nurphoto | Getty Images In the latest comparison between American and European founders, OpenAI’s startup boss admitted that the Americans are “almost shameless” when it comes to making demands and giving feedback to the AI giant. Laura Modiano, […]
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Shaq, Sam Altman-backed college startup Campus taps former Meta AI head as CTO
Campus, a college startup backed by Sam Altman, has hired Meta‘s former AI Vice President Jerome Pesenti as its technology head, the company announced Friday. As part of the deal, Campus will buy Pesenti’s artificial intelligence learning platform Sizzle AI for an undisclosed amount and integrate its personalized AI-generated educational content already used by 1.7 […]
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