💸 Elon Musk Sells Off $1 Billion Worth of Shares

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Elon Musk Sells Off $1 Billion Worth of Shares

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According to Elon Musk’s SEC filing data, the tycoon has sold 934,000 Tesla shares, worth around $1.1 Billion.

Each share fetched a price of $1,170, resulting in 180% price gains year over year. Tesla went public on Nasdaq in 2010.

Since then, it has been the third time for Musk to offload his shares. However, this has been Musk’s largest sales transaction so far.

Twitter played a significant role in Musks’s decision. On November 7th, 2021, Musk had posed a question to his 63 million Twitter followers.

He had asked, since “much is made lately of unrealized gains being a means of tax avoidance”, whether he should sell 10% of his Tesla stock. Nearly 58% had replied in the affirmative.

Long-Awaited “Take a Break” Instagram Feature Might Launch in December

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The Take a Break feature is in the testing phase at present. Once implemented, tentatively in December, the feature will give you a reminder when you’ve spent a long time on the platform. It is an optional feature.

Any user who opts in for it will get a reminder on the app every 10, 20, or 30 minutes. A preview of the feature shows that the Take a Break prompt will appear in the feed without taking over the entire screen. It is possible – therefore – to scroll past it.

Anyone who chooses to opt for the feature can set for themselves the period after which they would need the reminder.

The feature will show multiple options in terms of things one could do while taking a break. Such options include ‘take a few deep breaths, “write down what you’re thinking”, “listen to your favorite song” and “do something on your to-do list”.

EV Startup Rivian Goes Public in One of the Biggest IPOs in History

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The initial price registered by Rivian – after its launch – was at around $78 per share. The total valuation came at around $80 billion, with $12 billion net in free cash. The Rivian IPO ranks as the sixth-largest IPO ever on a US stock exchange.

In terms of production, Rivian, as per the latest available data, has got a little more than 55,000 preorders for electric pickup trucks and SUVs.

The company has stayed conservative in its approach. It said that it won’t be able to deliver all these vehicles by the end of 2023.

Amazon owns nearly 20 percent of the startup and, therefore, Rivian would focus a large extent on manufacturing vans for Amazon.

GoTo Group Secures More than $1.3 Billion in its Pre-IPO Funding

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The formation of the Indonesian GoTo group has been powered by the coming together of the ride-hailing leader Gojek and e-commerce firm Tokopedia.

Its purpose is to create a synergistic collaboration between Gojek, Tokopedia, and Goto Financial brands in sectors such as transport, e-commerce, food, and grocery delivery, and logistics and financial services industries.

The group is expecting to have a dual listing in New York and Jakarta by the end of the year. The latest funding round of $1.3 billion was led by Abu Dhabi Investment Authority (ADIA) along with Avanda Investment Management, Fidelity International, Google, Permodalan Nasional Berhad, Primavera Capital, Seatown Master Fund, Temasek, Tencent, and Ward Ferry.

According to market estimates, the valuation of the company is now somewhere between $28.5 billion and $30 billion. As far as the performance of the company, it has generated more than 1.8 billion transactions in 2020.

The gross transaction value has gone past $22 billion, resulting in more than 2% of Indonesia’s GDP.

Around the Web

📱 Puls Technologies Raises $15 Million: Puls Technologies, offering on-demand home repair services through its mobile app, has raised $15 million from Hanaco Venture Capital to venture into the home insurance market by launching an appliance warranty option.

🐦 Twitter Goes Full View With Images: Twitter is doing away with its auto-cropping algorithm on Android and iOS to offer a full view of images on the timeline.


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