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FINANCE

SoftBank Invests $400 Million in Vuori

By Tyler Shultz | October 14, 2021

Activewear brand Vuori has announced a $400 million investment from SoftBank Vision Fund 2 at a valuation of $4 billion. Since 2015, Vuori has established itself as a leader in the activewear market that merges techwear with a West Coast aesthetic.

Afterpay, Westfield Partner to Offer New Payment Option to Consumers

Afterpay, Westfield Partner to Offer New Payment Option to Consumers

The buy-now, pay-later platform Afterpay and Unibail-Rodamco-Westfield, owner of Westfield shopping centers across the United States, have announced an integrated, multiyear partnership to support retailers and help consumers by offering the latter a more flexible way to pay for purchases as foot traffic begins to return to stores.

Torrid Closes Above IPO Price as Body-Positivity Movement Grows

Torrid Closes Above IPO Price as Body-Positivity Movement Grows

Following the initial public-offering price of $21 per share, the City of Industry, Calif., expanded-size brand Torrid closed at $24.15 per share on July 1, up $3.15, for a 15 percent increase on its first day of trading.

Joor Raises $46 Million to Grow Wholesale Capabilities, Expansion

Joor Raises $46 Million to Grow Wholesale Capabilities, Expansion

Joor has raised $46 million in Series D funding for the company’s investment in platform innovation, payments and financing, and continued global and vertical expansion.

Etsy to Purchase Brazil-Based Elo7, Establish Presence in Latin America

Etsy to Purchase Brazil-Based Elo7, Establish Presence in Latin America

Elo7, a privately held marketplace for unique, handmade items, will be acquired by Etsy, Inc., for $217 million after a definitive agreement is signed.

White Oak Appoints Mike Earnhart as Managing Director of Originations

White Oak Appoints Mike Earnhart as Managing Director of Originations

San Francisco–headquartered White Oak Commercial Finance, LLC, announced that Mike Earnhart has been appointed managing director of originations.

Ssense Announces Investment From Sequoia Capital

Ssense Announces Investment From Sequoia Capital

Global-technology platform Ssense has received a minority investment from Sequoia Capital, which will afford to the Montreal-headquartered firm a post-money enterprise value of over $5 billion CAD, or $ 4.1 billion USD.

Etsy to Acquire Depop in Deal Valued at Over $1 Billion

Etsy to Acquire Depop in Deal Valued at Over $1 Billion

In a multi-billion-dollar agreement, e-commerce giant Etsy will acquire peer-to-peer social shopping application Depop. The deal will see Etsy, the two-sided online marketplace with millions of buyers and sellers from around the world, acquire 100 percent of Depop’s share capital in exchange for $1.625 billion. The transaction is expected to close during the third quarter of 2021.

FIS Selected to Manage, Process CEX.IO’s New Cryptocurrency Debit Cards

FIS Selected to Manage, Process CEX.IO’s New Cryptocurrency Debit Cards

With crypto-based consumer cards becoming more readily available, CEX.IO is adapting and evolving for the future by tapping FIS, a financial-technology leader in its own field, as the platform to support a new line of crypto-based consumer cards across Europe.

Ally Lending Offers New Payment Option

Ally Lending Offers New Payment Option

Ally Lending is giving its customers a new way to pay by offering financing through Sezzle.

ShePlace Launch Led by Goldman Sachs Pioneer Who Broke Through Glass Ceiling

ShePlace Launch Led by Goldman Sachs Pioneer Who Broke Through Glass Ceiling

Intent on reaching far beyond its headquarters in Park City, Utah, ShePlace has launched as an initiative by founder and Chief Executive Officer Jacki Zehner, who is focused on supporting the advancement of women and girls.

Christopher DeRosa Appointed as Business Development Officer for CIT

Christopher DeRosa Appointed as Business Development Officer for CIT

CIT has named Vice President Christopher DeRosa as business development officer for its commercial-services business.

Mark Bruno Named Managing Director of Wealth Management at Informa Connect

Mark Bruno Named Managing Director of Wealth Management at Informa Connect

Informa Connect announced Mark Bruno as the managing director of wealth management on May 4.

Shapeways Digital-Manufacturing Software Merges With Galileo to List on NYSE

Shapeways Digital-Manufacturing Software Merges With Galileo to List on NYSE

A definitive merger agreement for a merger transaction has been announced between digital-manufacturing platform Shapeways, Inc., and Galileo Acquisition Corp., the publicly traded special-purpose acquisition company.

Mastercard Supports Women of Color With Multimillion-Dollar Investment

Mastercard Supports Women of Color With Multimillion-Dollar Investment

Mastercard announced on April 20 its commitment to help further access to funding for Black women with a multimillion-dollar investment in Fearless Fund, created by women of color for women of color.

Levi’s Raises Outlook After Releasing First Quarter Results

Levi’s Raises Outlook After Releasing First Quarter Results

Denim giant Levi Strauss & Co. continues to navigate the fallout from the COVID-19 pandemic. For its first financial quarter of 2021, released April 8, the brand reported net revenues of $1.3 billion, down 13 percent compared to the same quarter the previous year. The decline was attributed to closures of company-operated stores as well as third-party retail locations.