Jan 19, 2017

Did Revel Systems just get bought?

Dan Primack

iPad point-of-sale company Revel Systems appears to have agreed to a new investment from existing shareholder Welsh Carson Anderson & Stowe, according to a federal filing. It is unclear if Welsh Carson, which primarily does buyouts, has acquired a majority stake or not.

The disclosure comes nearly seven months after a Bloomberg report that IBM was in talks to buy Revel, which was co-founded in 2010 by CEO Lisa Falzone and chief technology officer Chris Ciabarra. Welsh Carson first invested in late 2015 at around a $500 million post-money valuation, while other shareholders include Intuit and venture capital firms like DCM. Overall, the company has raised more than $130 million.

Revel says that it has deployed over 30,000 terminals, and last fall signed a deal to put its system across Shell's network of 47,000 retail locations.

A spokesperson declined comment on the Welsh Carson transaction. She also wouldn't discuss Revel's current board composition, as its original board representative from Welsh Carson (Sanjay Swani) recently left the firm "to pursue more entrepreneurial career options."

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Alexi McCammond

Focus group: Minnesota swing voters balk at Trump's Easter deadline

Illustration: Sarah Grillo/Axios

A group of Midwestern swing voters that supported President Trump's handling of the coronavirus less than two weeks ago is balking at his call for the U.S. to be "opened up" by Easter, saying they'll tolerate business closures for as long as it takes to contain the spread.

Why it matters: Their feedback suggests that some voters otherwise mostly supportive of the president — and who still see financial threats outpacing health threats — aren't so tired of social distancing that they're willing to risk ending it too quickly.

Go deeperArrowUpdated 39 mins ago - Politics & Policy
Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 607,965 — Total deaths: 28,125 — Total recoveries: 132,688.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 7 a.m. ET: 104,837 — Total deaths: 1,711 — Total recoveries: 894.
  3. Federal government latest: President Trump signed the $2 trillion coronavirus stimulus bill to provide businesses and U.S. workers economic relief.
  4. State updates: North Carolina is latest state to issue stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month.
  5. World updates: Italy reported 969 coronavirus deaths on Friday, the country's deadliest day.
  6. Business latest: President Trump authorized the use of the Defense Production Act to direct General Motors to build ventilators for those affected by COVID-19. White House trade adviser Peter Navarro has been appointed to enforce the act.
  7. 🏰 1 Disney thing: Both Disney World and Disneyland theme parks in the U.S. are closed until further notice.
  8. What should I do? Answers about the virus from Axios experts — What to know about social distancing.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Keep ReadingArrowUpdated 46 mins ago - Politics & Policy
Rebecca Falconer, Orion Rummler, Marisa Fernandez

Trump signs $2 trillion relief bill as U.S. coronavirus case count tops 100,000

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

President Trump signed a $2.2 trillion coronavirus relief package on Friday, as infections in the U.S. topped 100,000 and more cities experience spikes of the novel coronavirus.

The big picture: The U.S. has the most COVID-19 cases in the world, exceeding China and Italy, per data from Johns Hopkins. A second wave of American cities, including Boston, Detroit, New Orleans and Philadelphia, are reporting influxes of cases.

Go deeperArrowUpdated 10 hours ago - Health