Bird, an Uber-like service for electric scooters, on Friday announced that it has raised $100 million in Series B funding.

  • The pre-money valuation was $300 million, per a source close to the company.
  • Arena Ventures founder Paige Craig is joining Bird as head of ops, which means he'll not proceed with plans to launch a new pre-seed fund.

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21 mins ago - Sports

College sports stare down a coronavirus-driven disaster in the fall

Illustration: Eniola Odetunde/Axios

Wednesday was the worst day in college sports since March 12, when the coronavirus pandemic shut everything down.

Driving the news: The Ivy League announced that it will cancel all fall sports and will not consider resuming sports until Jan. 1, 2021 — and Stanford is permanently cutting 11 of its 36 varsity sports to help offset a projected $70 million, pandemic-fueled deficit.

1.3 million Americans filed for unemployment last week

Data: U.S. Employment and Training Administration via FRED; Chart: Andrew Witherspoon/Axios

Another 1.3 million Americans applied for unemployment benefits last week, the Labor Department said Thursday.

Why it matters: The number of new unemployment applications has fallen steadily since peaking in March, but the number is still historically higher than before the pandemic hit. Economists are watching the weekly gauge for any sign that spiking unemployment may come alongside the sharp uptick in coronavirus cases around the country.

Investors are ignoring the coronavirus pandemic by buying stocks and gold

Illustration: Eniola Odetunde/Axios

U.S. economic data is crumbling as increasing coronavirus cases keep consumers at home and force more cities and states to restrict commerce, but the stock market has continued to rise.

What's happening: Bullish fund managers are starting to lay down bets that it will be this way for a while. "The reason is: You have monetary and fiscal policy pushing the economy out of a problem and that is very, very bullish," Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, tells Axios.