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Vroom Shifts IPO Into High Gear; Looks To Raise $468M

PYMNTS

Securities and Exchange Commission filings cited by the report. In December of last year, Vroom notched $254 million in a Series H funding round led by Durable Capital Partners. Vroom had previously said it would use the funding to grow its workforce, operations, marketing and technology in addition to products. L Catterton, T.

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‘Non-Essential’ Retailers Step Up For Their Employees

PYMNTS

1: In Detroit Bedrock LLC real estate company is giving free rent for the next three months to its small-business retail and restaurant tenants. The company’s portfolio in and around downtown, is said to be expansive and comes as Detroit deals with at least 1,035 infections and nine deaths from COVID-19.

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VCs Back Autobooks For SMB Banking

PYMNTS

Reports Monday (March 13) said Autobooks secured $5.5 The new funding also saw participation from CU Solutions Group, Baird Capital, Detroit Venture Partners and Invest Michigan, the company said, adding that the round follows its self-funded $2 million in seed financing. “We million in Series A financing led by Draper Triangle.

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Second Largest US Mall Owner Defaults On Loan Payment

PYMNTS

One such case is that of the Detroit-based Lakeside Mall that has defaulted on a $144 million loan payment. The property is operated by the second largest U.S. To make matters worse, it’s increasingly getting difficult to seek commercial-mortgage backed securities that could finance such malls, Bloomberg reported.

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Philadelphia Mall Owner Takes Care Of Its Own

PYMNTS

Just this week, investors in Starwood Capital Group started to show signs of strain after the pandemic shuttered stores and wiped out emergency cash reserves, leading to default on a $700 million loan. REITs are not exactly a source of good or even consistent news these days. But apparently they’re doing something right in Philadelphia.

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Beyond Amazon Go: The Technologies And Players Shaping Cashier-Less Retail

CB Insights

Clients can view the full list of 150+ cashier-free retail operators here. Some historians date its existence to over 2,000 years ago: texts from ancient Greece describe a coin-operated machine for dispensing holy water in temples. However, RFID tags could provide extra security for unmanned retailers of higher-priced goods.

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How Smart Cities Will Vacuum Up Data — And Attempt To Protect It

CB Insights

NACTO has other partnerships, including one with scooter company Lime that allows it to provide anonymized scooter use data to the government of Detroit. All of its data is fine-tuned to operate on NACTO’s SharedStreets data standard. Remix creates visualizations . The first launch of this initiative was in the Philippines.

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