Digital health valuations will recover from their recent dip, CRV general partner Kristin Baker Spohn on Friday said at an Axios Pro Insights event.
"The pendulum swung a bit too far one way and has swung a bit too far back the other way ... I think we'll see an evening out over the next few quarters. In advance of that, I think we'll see increased consolidation."
Insider has tapped New York Times advertising sales veteran Maggie Milnamow as its new chief revenue officer, reporting to Insider president Barbara Peng.
Why it matters: She'll oversee Insider's advertising team, which consists of about 130 people.
The COVID-19 pandemic helped supercharge investment in lab testing startups, which were one of the "last areas" of health tech innovation, Everly Health CEO Julia Cheek said Friday during an Axios Pro Insights event.
What they're saying: "Everyone needs a lab test annually, if not more often, but most Americans compared it prior to COVID to going to the DMV," says Cheek, whose company is valued at nearly $3 billion by venture capitalists.
E-commerce group Trafilea, parent of shapewear marketplace Shapermint, is in talks with private equity and venture capital firms to raise its first significant capital of around $50 million to $100 million in equity, its co-founder and CMO Massimiliano Tirocchi tells Axios.
Why it matters: The funding plans come as competition for the intimates and shapewear marketplaces is fierce, including the original Spanx and newer entrants such as reality star Kim Kardashian's Skims.
In the wake of new Russia sanctions, users of some so-called decentralized finance apps and services in Iran and Venezuela found themselves unable to access their digital assets on Thursday.
Why it matters: In theory, Web3 is supposed to provide a safe haven from geopolitical concerns. But in practice, dApp users are finding there are limits to decentralization.
The COVID pet boom is unleashing more opportunities for investment across the burgeoning veterinary care industry, sources tell Axios.
Why it matters: Veterinary care is one of the largest pockets of spending for pet parents — and arguably the most important. And, like medical care for humans, it faces a big labor shortage.
Disney on Friday said it would debut an ad-supported tier for Disney+ in the U.S. by the end of the year. It plans to reveal the price of the new plan later this year.
Why it matters: The ad-supported tier, which will presumably cost much less than Disney+'s current $8 monthly subscription in North America, will help the company accrue more customers who may be looking to save money as the subscription streaming landscape becomes more crowded.
French luxury brand Hermès announced Friday that it will temporarily close all its stores in Russia, saying it was "deeply concerned by the situation in Europe."
The big picture: It's one of the first big luxury brands to announce such a move. Other businesses and companies worldwide have abandoned operations in Russia and condemned its unprovoked invasion of Ukraine.
Volocopter, a German eVTOL developer, raised $170 million in Series E funding at a $1.7 billion pre-money valuation. WP Investment led, and was joined by Honeywell and insiders Atlantia, Whysol and btov Partners.
Why it matters: The aerospace upstart also disclosed a commercial launch deadline of mid-2024 in Paris, just in time for the Summer Olympics. Doesn't mean Volocopter will hit that mark, or that it won't fly earlier, but it's nice to have some particulars on the promise.
Flume Health, a New York-based health plan builder for organizations, raised $30 million in Series A funding led by Optum Ventures, bringing its valuation to roughly $100 million, the company's CEO tells Axios exclusively.
Why it matters: Employers remain digital health's prime mover, and newer entrants like New York-based Flume help companies build health plans catered to their members.
It was a winter of surging job creation. Employers created jobs on a mass scale, Americans returned to the workforce, and the labor market shrugged off the Omicron variant and its broader pandemic funk.
That's the takeaway from the February jobs report, which showed employers added 678,000 jobs last month. December and January job growth was better than previously thought, and the unemployment rate fell to 3.8%.
Driving the news: Produce Blue Book has declared mushrooms one of the "top five food trends for 2022." (The others are potato milk, indoor farming, restaurant evolution and packaging innovation.)
"Out of all the produce categories to pick as "trendy," I think mushrooms are going to be the one that continues to gain popularity with consumers," writes Pamela Riemenschneider, retail editor for Blue Book Services, which provides marketing information for the fruit and vegetable industry.
"From oyster mushrooms masquerading as scallops to consumer interest beyond buttons and criminis, consumers are looking for a meaty umami flavor without the meaty calorie load."
Details: 'Shroomy new products are flooding the market.
Shrooms Crispy Mushrooms are a potato chip alternative that come in flavors like sea salt, spicy jalapeno and mesquite barbecue. (The manufacturer also sells Shrooms Snack Bars in flavors like Crispy Mushroom Chocolate Chunk.)
Mushroom coffee is cropping up everywhere — it's even sold at Walmart — and a new line of mushroom oat milk drinks has hit the market.
Drinksfeed.com offers a primer on "how to choose your first mushroom coffee."
"When they are used for beverages, they are typically dehydrated, made into an extract, and blended into coffee or other drinks," per Feast and Field.
While the health benefits are likely overblown, "proponents claim mushroom beverages have the potential to boost immune function, reduce inflammation, and support energy levels throughout the day."
Airbnb is "suspending all operations in Russia and Belarus," the home rental company's CEO Brian Chesky tweeted late Thursday.
What they're saying: Airbnb said in an emailed statement on Friday that the decision "means that we will block calendars from accepting new bookings in both countries until further notice."
Ripping Russia, the world's 11th largest economy, out of the global financial system is bound to cause collateral damage for other countries, people and systems.
Why it matters: Even the most targeted bombing campaign can strike bystanders, and an economic war is perhaps more indiscriminate — and harder to control.
Veteran news anchor Katty Kay is returning to the BBC, where she was previously BBC World News anchor. She will be joining the broadcaster as U.S. special correspondent for BBC Studios, where she'll work across documentaries, podcasts and news.
Why it matters: Kay left BBC last May to join Ozy Media, which was clouded by scandal following a New York Times report alleging executives at Ozy committed securities fraud. She resigned from Ozy in September, shortly after the report.
