Category: New Business

The Week in Business: Amazon’s Latest Acquisition

Elizabeth

It is theoretically possible to go through a day patronizing only Amazon-owned companies: You might buy groceries at Whole Foods, listen to a book on Audible on your commute, check your Goodreads account and then, of course, visit Amazon.com. Now, the e-commerce giant is making a new push into health care. Amazon announced on Thursday that it had reached a $3.9 billion deal to buy One Medical, a network of primary care clinics, as part of its quest to become a major player in the industry. The deal is the first acquisition under Andy Jassy, ​​who became chief executive a year ago after Jeff Bezos stepped down. Mr. Jassy’s approach to the role has been much different from his predecessor’s, but on this decision, he hasn’t diverged too drastically from Mr. Bezos. One Medical is not the first health-care-related company Amazon

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Elon Musk Wants to Conquer a New Business

Elizabeth

On the 54th anniversary of the first manned landing on the moon, Elon Musk’s SpaceX and Mattel plans announced to conquer a new universe…toys.

The companies offered few details of their plans or products, which leaves open the possibility that one of the items could be an action figure of the world’s richest man.

It was probably only a matter of time before toy SpaceX rockets and space stations hit the toy store shelves. There is, after all, a Tesla (TSLA) kids cyberquad selling for $1,900.

Toy producer Mattel (MAT) announced that it has inked a multiyear deal with Elon Musk’s SpaceX. The very brief press release says that a line of toys and collectibles is to be released under Mattel’s Matchbox brand in 2023 but stays silent on precise timelines, product details and prices.

“We take pride in our ability to create products and experiences

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New Venmo Small Business Grant Program to Support Emerging and Small Businesses

Elizabeth

Initiative Will Grant Venmo Business Profile Users with Funds and Mentoring to Help Grow Their Business

SAN JOSE, Calif., July 28, 2022 /PRNewswire/ — PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the Venmo Small Business Grant, a new program for emerging and small businesses that will provide financial grants and mentorship services to 20 new and existing Venmo Business Profile customers. Each of the 20 businesses selected will receive $10,000 that can go towards covering expenses, such as rent, or helping to digitize and promote their businesses.

According to a US Bank study, 82% of businesses that failed cited cash flow problems as a factor in their failure.1 In addition to providing a financial grant, the Venmo Small Business Grant program will provide recipients with access to technical expertise and mentorship on topics such as legal services, financial analysis, digital marketing and more. These resources will be

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3M will spin off its health-care business into a new public company

Elizabeth

3M announced Tuesday it will spin off its health-care business into a separate publicly traded company.

The new business will focus on wound and oral care, health-care IT and biopharma filtration, the material science company said in a release. That includes products like its bandages, skin adhesives, oral aligners, air purifiers and optical lenses.

The company’s health-care products also include the Bair Hugger surgical warming system, which is currently the subject of nearly 6,000 lawsuits. 3M maintains that the product has no relation to surgical-site infections.

3M health-care products recorded more than $8 billion in sales in 2021. The transaction is expected to be completed by the end of next year, and 3M will maintain a 19.9% ​​stake in the new company.

The announcement comes as 3M said its second-quarter revenue fell nearly 3% to $8.7 billion. Net income dropped to $78 million from $1.5 billion a year

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Plant lover hoping to grow a new business in West Fargo – InForum

Elizabeth

WEST FARGO — A new plant shop is hoping to sprout in West Fargo.

Pansy Plants founder Scott Brezina is currently raising capital to fund the venture, which he is hoping to open in the Pioneer Place mixed-use building along Sheyenne Street in the city’s downtown.

While the timeline for the store’s opening is yet to be finalized, Brezina hopes to open this year. The budding entrepreneur said opening a shop dedicated to all things houseplants has long been a dream of his. He credited longtime friend Katie Krumwiede, owner of Cookie Krums, for helping him find the location in the Pioneer Place.

Having made a career in retail, Brezina added that the COVID-19 pandemic afforded him extra time to contemplate his goal. “Especially over COVID, everyone kind of had a lot of time to think about what they really wanted to do and what they really love,” Brezina explained

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