Category: The New York Times

June 3, 2019 Off

Fitness startup Mirror nears $300M valuation with fresh funding

By Jill T Frey

Today, Peloton is a bonafide success. The company, which sells $2,245 internet-connected exercise bikes, boasts a $4 billion valuation and a cult following.

That hasn’t always been the case. For years, Peloton battled for venture capital investment and struggled to attract buyers. Now that it’s proven the market for tech-enabled home exercise equipment and affiliated subscription products, a whole bunch of startups are chasing down the same customer segment.

Mirror, a New York-based company that sells $1,495 full-length mirrors that double as interactive home gyms, is closing in a round of funding expected to reach $36 million, sources and Delaware stock filings confirm, at a valuation just under $300 million. It’s unclear who has signed on to lead the round; we’ve heard a number of high-profile firms looked at Mirror’s books and passed. The company has previously raised a total of $38 million from Spark Capital, First Round Capital, Lerer … Read the rest

June 2, 2019 Off

YouTuber gets 15 month prison sentence, $22,000 fine for toothpaste-filled Oreos

By Jill T Frey

YouTube star Kanghua Ren was just handed a 15 month prison sentence and 20,000 euro ($22,300) fine for a January 2017 video.

The video, which generated widespread outrage online, found Ren giving a homeless man in Barcelona repackaged Oreo cookies filled with toothpaste.

“Maybe I’ve gone a bit far, but look at the positive side: This will help him clean his teeth,” the China-born YouTuber (then 19) known as ReSet said in the video. “I think he hasn’t cleaned them since he became poor.”

The 52-year-old man vomited after ingesting the cookies, later telling a paper that he had, “never been treated so poorly while living on the street.”

Ren was given the sentence on Friday, though The New York Times notes that he’ll likely not actually serve any time, given how nonviolent crimes are generally treated in Spanish court. In addition, his YouTube channel and various social media … Read the rest

May 14, 2019 Off

Stocks gain back some ground as investors assess the trade war’s impact

By Jill T Frey

Stocks had their best trading day in a while on Tuesday as investors took a break from selling to assess the actual effects of the trade war with China.

Both the Dow Jones Industrial Average and the S&P 500 gained back some of their losses with the DJIA climbing 207.06 points to close at 25,532.05 and the S&P hitting 2,834.41, up 0.8%. The Nasdaq Composite Index wrapped its trading day at 7,734.49.

Tech stocks like Cisco Systems and Microsoft both rose to lead the way for a sector that could be hit hard by any prolonged trade war between the U.S. and China. Even Apple was up 1.6% on the day after taking a bit of a pummeling as both the U.S. and China announced new rounds of tariffs and import duties.

While some investors are calling the rally more of a dead cat bounce than something that markets can … Read the rest