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| Welcome back! Let's get into the latest 👇️ | Headlines 🔍 | Starbucks closed🔻down 16% yesterday after reporting revenue down 2% y/y to $8.6B, SSS down 4% y/y (with U.S. comps down 3% y/y and international comps down 6% y/y). Declining comps and weakening foot traffic is a terrible recipe for restaurants and coffee shops - showing that the average Starbucks consumer is getting stretched and that price hikes may have gone too far. Even worse, Starbucks downwardly revised guidance from full year sales growth of 7%-10% to low single digit revenue growth. Apollo faces serious allegations related to life insurance bets. Apollo has since denied this. Matt Levine gave the best take I've seen so far here. Blade launches Hamptons Buses that price up to $275, a significant premium to the Jitney. My advice: Take the Jitney or LIRR instead. beehiiv (our newsletter platform) raised a $33mm Series B at a $224mm valuation. beehiiv expects to be break-even at year end, with $22mm in '24E revenue. Proskauer claims that Unitranche security hasn't been "Battle-tested" in the courts yet. Amazon reported monster earnings and the street has raised their price targets. Binance founder and ex-Ceo, CZ, is sentenced to 4 months in prison on charges of enabling money laundering. Dave and Busters to allow customers to gamble on arcade games. Paramount ousts their CEO as the potential Skydance merger nears: Reports noted that the outgoing CEO raised concerns that Class-B shareholders were being treated very unfairly by the potential Skydance and Shari Redstone structure. As a result, he was ultimately dismissed and replaced by a committee of three co-CEOs. We'd expect potential litigation to arise from Class-B shareholders who feel spurned. Peacock is raising prices by $2/month, with ad-supported plans going to $9.99/month and ad-free plans moving up to $13.99/month. Bill Ackman donates $10,000 to UNC Students:
| | | A Message from Our Sponsor | | | Invest before this company becomes a household name | What if you had the opportunity to invest in the biggest electronics products before they launched into big box retail, would you? | Ring changed doorbells and Nest changed thermostats. Early investors in these companies earned massive returns, but the opportunity to invest was limited to a select, wealthy few. Not anymore. RYSE has just launched in 100+ Best Buy stores, and you're in luck — you can still invest at only $1.50/share before their name becomes known nationwide. | They have patented the only mass market shade automation device, and their exclusive deal with Best Buy resembles that which led Ring and Nest to their billion-dollar buyouts. | Learn how you can become a shareholder. | | Layoffs ⛈️ | | Transactions: M&A 💭 | WeWork, a commercial real estate company, has entered a definitive agreement to be acquired for $450.00M by Yardi Systems, Softbank Investment Advisers, and King Street Capital Management. Adam Neumann missed out on buying back WeWork :( Parkia, operator of car parking facilities, was acquired for $751.08M by Indigo Group. Only What You Need, manufacturer of plant-based protein beverages, has reached a definitive agreement to be acquired for $280.00M by Simple Good Foods (NAS: SMPL). Houlihan Lokey advised on the sale. Nseit, developer of digital technology solutions platform, has entered a definitive agreement to be acquired for $119.89M by Investcorp. Avendus Capital advised on the sale. Kin and Carta, a digital transformation business, was acquired for $299.12M by Valtech. Citigroup, Deutsche Bank, and Peel Hunt advised on the sale. Heartland Financial USA (NAS: HTLF), a multi-bank holding company, has reached a definitive agreement to be acquired for $2.0B by UMB Financial (NAS: UMBF). Keefe, Bruyette & Woods, and Stifel advised on the sale. Endomag, a magnetic sensing technology company, has reached a definitive agreement to be acquired for $310.00M by Hologic (NAS: HOLX). Deciphera Pharmaceuticals (NAS: DCPH), a biotechnology company, has reached a definitive agreement to be acquired for $2.4B by ONO Pharmaceutical (TKS: 4528). J.P. Morgan advised on the sale. Blackrock Neurotech, developer of neurotechnology platform, was acquired for $200.00M by Tether. Jan Becher Pernod Ricard, a producer and distributor of alcoholic beverages, was acquired for $300.00M by Maspex Group. Centerview and Eight Advisory UK advised on the sale. Ecolab's Global Surgical Solutions Business Unit has entered into a definitive agreement to be acquired for $950.00M by Medline Industries. Dulwich College's Singapore Business Unit has reached a definitive agreement to be acquired for $600.00M by Blackstone (NYS: BX). Degussa Bank, Provider of banking and financial services, was acquired for $236.05M by Oldenburgische Landesbank. CH&Co, provider of contract catering services, was acquired by for $594.49M by Compass Group (LON: CPG). Rothschild & Co advised on the sale.
| Transactions: Private Placements 💭 | PharmEasy, operator of an online drug delivery platform, has raised $216.27M of venture funding led by Manipal Education and Medical Group at a pre-money valuation of $707.81M. Island, developer of an enterprise browser, has raised $175.00M of Series D venture funding led by Coatue Management and Sequoia Capital at a pre-money valuation of $2.83B. Enlaza Therapeutics, developer of novel protein therapeutics, has raised $100.00M of Series A venture funding led by J.P. Morgan Life Sciences Private Capital. Corelight, developer of a network visibility software platform, has raised $150.00M of venture funding led by Accel at a pre-money valuation of $750.00M.
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| Meme Cleanser 😆 | |  | Douglas A. Boneparth @dougboneparth |  |
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Can't wait to tell my wife I lost the house playing Mortal Kombat. |  | | | Apr 30, 2024 | | |  | | | 24.1K Likes 2.06K Retweets 198 Replies |
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|  | Adam Silverman (Hiring!) 🖇️ @AtomSilverman | |
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Just saw this getting unloaded in front of OpenAI. We are getting AGI this year. |  | | | Apr 27, 2024 | | | | | | 18.1K Likes 804 Retweets 144 Replies |
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| In Other News | | Until Next Time! |
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