 LinkedIn A lawsuit against Microsoft-owned LinkedIn, accusing the professional social media network of manipulating video view count and overcharging advertisers, was dismissed by a U.S. judge. The plaintiffs failed to show that LinkedIn’s remedial action was inadequate. More: - LinkedIn acknowledged in Nov. 2020 that a software bug in its system led to overcharging 418,000 advertisers amounts up to $25.
- The plaintiffs alleged that LinkedIn charged advertisers for video views even when the advertisement was being played in the background, thus leading to inaccurate metrics on videos.
- Since LinkedIn published a disclaimer absolving it of liability for ad expenses influenced by click fraud or illicit third-party activity, the judge ruled that the company had no implied duty to provide accurate metrics.
- LinkedIn maintained that it took remedial action and provided all affected users with credits.
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 GoDaddy Starboard Value LP, an American hedge fund, invested $800M in GoDaddy, acquiring a 6.5% stake. GoDaddy is an Arizona-based web hosting and web services company with a current market value of $12.7B. More: - The web hosting company was founded in 1997 and went public in 2015, with the stock closing at $76 per share on Dec. 23.
- KKR & Co., Silver Lake Partners, and Technology Crossover Ventures had acquired GoDaddy in 2011.
- The web hosting company recently reported $964M in Q3 revenue, on track for a forecasted $3.765B in annual revenue.
- Starboard has invested in another web hosting and domain registry company, Web.com, and its subsidiary.
- The hedge fund company is expected to improve profitability and efficiency of the GoDaddy organization.
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Riot Games agreed to pay $100M to settle a gender discrimination class-action lawsuit filed by ~2,300 former and current women employees. As a part of the settlement, the gaming company also agreed to fund a diversity and inclusion program, a three-year third-party equity analysis, and an audit of workplace investigations. More: - Riot Games, owned by China-based Tencent, is the world’s largest gaming publisher.
- The $80M will be split between 1,000 current employees and 1,300 contractors, while the rest will be spent on lawyer fees and other costs.
- The gaming company claims it has improved the company culture over the last three years in a bid to be seen as an exemplary leader of workplace culture and gender equity.
- A sexual harassment suit filed against CEO Nicolo Laurent by his former executive assistant is pending in court.
Zoom out:
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AppDirect, a San Francisco-based subscription commerce platform, received $80M funding from Caisse de dépôt et placement du Québec (CDPQ). The company plans to utilize the incoming funds to support channel partner growth and establish AppDirect Capital, which will provide funding to its technology channel partners through the AppSmart Invest program. More: - AppDirect was founded in 2009 with an aim to simplify the digital supply chain and facilitate the sale of products with third-party services.
- In Sept. 2020, AppDirect received $184M from CDPQ.
- The company launched its AppSmart Invest funding program in February, which provides channel partners with upfront capital based on their recurring revenue commissions since partners face challenges in gathering funding from banks.
- The program has assisted firms like Global Communications Group, NXTSYS, On Track Communications, US Network, PSI Network, and Netstar Communications.
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 A message from SEEDINVEST The next era of fundraising online is here SeedInvest is where high-growth startups go to fundraise online. From a Seed round to a $20M+ Series B, founders in SaaS, consumer, robotics, and more are harnessing the power of equity crowdfunding to take their company to the next level. Here’s what 250+ successfully funded companies know about SeedInvest: - Equity crowdfunding is complementary to traditional VC - SeedInvest companies have received follow-on funding from Greycroft, Menlo Ventures, Tiger Global, and more.
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AI assisted recruiting platform Paradox raised $200M in Series C funding. The funding was co-led by Stripes, Sapphire, and Thoma Bravo. More: - The influx of funds, which has raised Paradox’s valuation to $1.5B, will facilitate scaling up the organization, including hiring across all roles.
- The company has pioneered an AI-assistant-based approach to converse with potential hires and automate tasks.
- Paradox’s application can automate the candidate screening, interview scheduling, and onboarding processes.
- Its 500+ global clientele includes the likes of McDonald’s, Unilever, GM, and CVS Health.
- Paradox claims its software has helped McDonald’s outlets reduce their time-to-hire by 60%.
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 Protests against Shell A South African court blocked Shell's oil exploration activity in whale breeding areas along the country's eastern shoreline. Lawyers representing local indigenous small fisher groups successfully argued that the petroleum company undertook the project without consulting the local people while also providing evidence of potential harm the exploration would cause to local marine life. More: - The oil exploration seismic test involves blasting sound waves, which would agitate the whales, dolphins, seals, and other marine life in the region.
- The test would also interfere with the local small fishermen communities who hold customary rights to undertake fishing in the area.
- Previously this month, environmental groups had mounted a legal challenge to block Shell's plans, which was dismissed by the court.
- Shell's critics argue that the company's plans were approved under older legislation laws in 2014, just months before new, tougher laws were to take effect.
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- Norwest Venture Partners will target transformative firms and innovative organizations through a recently closed $3B fund.
- Indonesian civil aviation authorities lifted the ban on 737 MAX airplanes that were grounded following a fatal crash of Lion Air’s airplane in 2019. Ethiopian Airlines will also resume flying its 737 MAX fleet.
- Telefonica, a Spanish telecom company, secured an agreement with labor unions to cut 2,700 jobs early next year in a bid to save $260M (Euro 230M) in annual costs from 2023.
- Clarian, a Swiss-based chemical maker, agreed to purchase the U.S.-based clay mining assets of BASF for $60M to help expand their sustainable business.
- Binance will expand operations into Bahrain and Canada following regulatory approval.
- SavorEat, an Israel-based food tech company, announced a 3D printed plant protein-based burger with fat and protein content personalization options for each customer.
- The hourly minimum wage will increase to $11.50 in New Mexico at the start of 2022, a $1 raise.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, Formula 1 lover, and a Licensed Pilot. He is also a part-time automobile and aviation fanatic, and a full-time introvert. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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