Good Evening!
Your next Amazon impulse buy might be arriving by drone.
Here are the 7 things you missed today:
1. 💰 SK Hynix is Buying Back $28.6Bn of Its Own Stock
SK Hynix is about to make history as the largest treasury share cancellation of South Korean listed companies ever. The chipmaker’s board approved repurchasing and cancelling 40 trillion won ($28.6 billion) of its own shares over three months starting August 20 in an effort to boost shareholder returns. (Quartz)
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3. 👀 Rivian’s Spinout Also Raised Another $150M
Also, a micromobility startup that spun out of Rivian last year, has raised a $150 million Series D round. The new funding, led by Prysm Capital, will help the startup expand its business beyond pedal-assist electric bikes and commercial cargo quads to autonomous delivery vehicles. (TechCrunch)
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5. 💊 BioMarin is Acquiring Alesta Therapeutics for $275M
BioMarin Pharmaceutical has entered into a definitive agreement to acquire Alesta Therapeutics for $275 million up front, plus up to $215 million in additional payments tied to development and regulatory milestones. The acquisition centers on developing a first-ever oral treatment for a rare bone disease. (Quartz)
6. 📦 Amazon is Planning to Expand Drone Delivery to Nearly 500 U.S. Cities by 2027
Drones may be the new delivery drivers. Amazon is planning to expand its Prime Air drone delivery service to nearly 500 cities and towns across the U.S. by the end of 2026, a sixfold increase from its current footprint. The service is set to launch in the Chicago, Atlanta, Cleveland, Syracuse, and Boise metro areas soon, with additional locations to follow. (Quartz)
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7. 📝 Calendly Launched its Own Notetaker
Calendly is jumping into the hot notetaking market. The scheduling and meeting booking software just launched its own notetaker which, similar to others, joins meetings, records the audio and video, and transcribes it for after-meeting summaries and action items. Calendly’s also planning to release its own AI assistant, Callie, that uses a company’s existing meeting and scheduling stack to set up and organize future meetings. (TechCrunch)
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