Walmart is on the move this year with their new startup called Store No.8 (what is this, a knock-off Chanel perfume?) which “incubates companies with the potential to transform the future of commerce,” so their website claims. Apparently, it’s a health venture that is going to create programs that help customers make healthier choices.
Walmart hasn’t said a word about it so far… maybe that’s because it’s a tough brand image to pivot? You don’t exactly think “Whole Foods” when you think “Walmart”. But this also comes on the heels of Walmart’s decision late last year to start a pseudo-Amazon Prime service, where customers can sign up for their membership program that includes free deliveries. About 200 of their stores are going through a redesign to work cohesively with the app.
Did we mention they’re on TikTok too?
Watch out Bezos, the Waltons are coming for you!
We’re also seeing Walmart invest in insurance services, pharmacies, clinics, and other health-related ventures to get new streams of revenue going and perhaps attract a new target market.
Do you think this new health venture will succeed? Hit reply and tell us your opinion!
Checkout.com Is Checking Out With Billions
Another raise for Checkout.com? Yup, and this time it’s giving them a $15-billion valuation. Tiger Global Management just led a round for their Series C where the payment company raised $450 million.
Never heard of Checkout.com? They’re on a mission to build a one-stop shop for everything under your business’s payments umbrella. Accepting transactions, fraud alerts, payment processing, you name it.
The startup is an interesting one. In 2012, CEO Guillaume Pousaz founded the company in London and grew it slowly and steadily. A little bit of revenue would bring them another employee… It was very step-by-step and by the book.
They ended up raising one of the largest Series A rounds to date for a company out of Europe at $230 million with a $2 billion valuation. They now are the fourth-largest fintech company around the globe. Talk about growth!
The CEO recognizes they don’t actually need to raise money anymore, but they want the validation that comes from a VC firm. Plus, it sure helps to have a huge chunk of change in your bank account if you want to expand into other countries. Tends to help when dealing with regulators. Thanks to this funding round, Checkout.com is now coming to New York, San Francisco and Denver.
Staples Just Won’t Give Up
Once again, Staples has offered to buy ODP Corp, the owner of Office Depot, for $2.1 billion… in cash. Is the third time the charm for Staples? Because this is their third attempt at buying the company.
Staples has offered to pay $40 per share for ODP Corp, which would be a 61% premium over Office Depot’s average over the last three months.
It wasn’t ODP Corp’s fault the deal didn’t go through originally. The US Federal Trade Commission put a halt to Staples’s offer in 2016 for $6.3 billion because of fear the merger would reduce competition in the US.
Let’s not forget that this attempt to merge goes all the way back to 1996 when again, the government was in the way. This time there was a lawsuit against the two, with an argument that the price for paper, pens and other office supplies would skyrocket.
These attempts to acquire ODP Corp happened when Staples was a public company, but they went private back in 2017.
Do you think this deal will finally go through? Hit reply and give us your insight!