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Via Stitch Fix

Stitch Fix, a personal shopping subscription service founded by Katrina Lake, has filed for an initial public offering. The target raise is listed as $100 million, but that's likely a placeholder figure. It plans to trade on the Nasdaq under ticker SFIX, with Goldman Sachs and J.P. Morgan serving as lead managers.

Financials: The San Francisco-based company's S-1 filing lists a net loss of just under $1 million on $977 million in revenue for the year ending July 29, 2017. It also reports having been profitable in both fiscal 2015 and fiscal 2016 on revenue of $342 million and $730 million, respectively. These are particularly strong numbers for a venture-backed e-commerce company coming to market, particularly with a subscription model.

Venture history: Stitch Fix raised around $47 million since being founded in 2011, from firms like Baseline Ventures, Benchmark, Structure Capital, Lightspeed Venture Partners and Western Technology investment.

Partial liquidity: Stitch Fix founder and CEO Katrina Lake sold $1 million of shares back to the company last December, while Julie Bornstein (who stepped down as COO over the summer) sold back $1.9 million in January. The share price tied to those sales would value the company (undiluted) at around $1.97 billion.

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Shoshana Gordon/Axios

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Misinformation is just one part of a vaccine trust problem

Illustration: Sarah Grillo/Axios

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2 hours ago - World

Israel's "change bloc" collapses, leaving Netanyahu in charge

Bennett (L) with Netanyahu in 2015. Photo: Gali Tibbon/AFP via Getty Images

In a dramatic shift that comes amid fighting in the Gaza strip and clashes between Jewish and Arab citizens in Israel, right-wing kingmaker Naftali Bennett has announced he will no longer seek an alternative government to oust Prime Minister Benjamin Netanyahu.

Why it matters: Bennett had been on the verge of a power-sharing deal with centrist opposition leader Yair Lapid that would have made him prime minister for two years until Lapid rotated into the job. Without Bennett, Lapid has no path to a majority, and Israel will almost certainly head for its fifth election since 2019 with Netanyahu still in his post.