TechTaffy

tech:

taffy

Convoy Raises $260M

By TechTaffy Desk

Seattle, WA-based digital freight network company Convoy has raised a $260 million Series E round of funding. The funding comprised of a $160 million Series E preferred equity round led by Baillie Gifford and T. Rowe Price. The round also included a $100 million venture-debt investment from Hercules Capital. Additionally, Convoy secured a $150 million line of credit from J.P. Morgan.

Convoy is valued at $3.8 billion according to a statement from the company.

Update: 11-22-22

Just in

Around the web

Biden signs TikTok ‘ban’ bill into law, starting the clock for ByteDance to divest it — The Verge

President Joe Biden signed a foreign aid package that includes a bill that would ban TikTok if China-based parent company ByteDance fails to divest the app within a year, writes Lauren Feiner.
IT

IBM to acquire HashiCorp for $6.4B

IBM and HashiCorp have entered into an agreement for IBM to acquire HashiCorp, a provider of infrastructure and security management products, for $6.4 billion.
AI

OpenAI introduces new enterprise features

OpenAI announced new features aimed at enterprise users on Tuesday, at the wake of Meta's recent LLama 3 announcement.
Around the web

Oracle is moving its world headquarters to Nashville to be closer to health-care industry — CNBC

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter, writes Ashley Capoot.
Industry

Square expands offline payments globally

Payment processing company Square has announced the expansion of its offline payments feature to all hardware devices and countries.