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Today In Payments: Facebook Closes $5.7B Deal For Stake In Reliance Jio; GM Shutters Its Car-Sharing Platform

PYMNTS

billion deal on Tuesday (April 21) for a minority stake in Indian telecom startup Reliance Jio, giving the social media giant a larger foothold in the region. Maven had already began winding down the number of cities in which it operated, shutting down in major markets like Boston, Chicago and New York City.

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Rescuing The Restaurant Business From App Decline

PYMNTS

Currently exiting beta in New York City, Fahmy’s new company, DineVite, claims to put the discounts back where they belong — with the restaurant owners. The model for the DineVite online and mobile app is actually similar to social media. The operative word is control. “I

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11 New Restaurant Concepts Reimagining Fast Food & Casual Dining

CB Insights

An enormous part of By Chloe’s success is that its dishes and restaurants are optimized for social media. Co-founder Samantha Wasser recently opened a Middle-eastern-style spinoff, Dez, in New York’s Soho district, with a similar focus on zesty dishes like a fire roasted eggplant mezze with pomegranate, herbs, za’atar, and tahini.

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Autopsy Report: 9 Startup Failure Stories And What We Can Learn From Them

CB Insights

After soaring to a multi-billion-dollar valuation behind an iconic founder, a team of prominent backers, and a promise to revolutionize blood testing, Theranos officially ceased operations in 2018. That July, it banned Holmes from owning or operating a lab for two years. The rise and fall of Theranos. Takeaways & lessons.

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24 Industries & Technologies That Will Shape The Post-Virus World

CB Insights

VR has also helped businesses across industries keep operations running. The equipment was expensive and companies lacked the in-house expertise required to operate it. Orders that once took hours to fulfill are being delayed by weeks in areas hit particularly hard by Covid-19, such as New York City.

Industry 101