A 300 times return, inside McDonald’s CEO change, and what’s next for WeWork

Hello!While most of Wall Street was focused on deal talks between Charles Schwab and TD Ameritrade this week, another financial services deal caught my eye. Honey, which makes a browser extension that surfaces coupons while you shop online, sold to PayPal for $4 billion in cash. As Melia Russell reported, the acquisition gives new meaning to…

A 300 times return, inside McDonald’s CEO change, and what’s next for WeWork

Hello!While most of Wall Street was focused on deal talks between Charles Schwab and TD Ameritrade this week, another financial services deal caught my eye. Honey, which makes a browser extension that surfaces coupons while you shop online, sold to PayPal for $4 billion in cash. As Melia Russell reported, the acquisition gives new meaning to the term “sweet deal.”Honey faced rejection from VCs for two years before raising a seed round of $1.8 million in 2014 from Mucker Capital, Bam Ventures, Ludlow Ventures, SXE Ventures, and an angel investor. Richard Jun, a cofounder and managing director of Bam Ventures, told Melia Bam put $150,000 into Honey’s seed round. Its investment is worth 300 times that after the acquisition, which comes out to $45 million.The deal is emblematic of an evolution in the payments space, where more companies are looking to move beyond just moving money.An Andreessen Horowitz general partner told Shannen Balogh for example that Uber and Apple are just the start, and eventually every company will want to be a fintech. Citi Ventures meanwhile is betting on cars that pay their own bills, and its co-head of investing envisions a future where your devices make payments without you.Inside McDonald’s CEO changeMcDonald’s CEO Steve Easterbrook’s termination as CEO earlier this month following a relationship with a female coworker sent shock waves through the massive fast-food chain, according to Kate Taylor. This week she published three stories on the CEO change focused on the immediate aftermath of Easterbrook’s exit, and new CEO Chris Kempczinski’s efforts to win over employees and franchisees since. Check them out:The chaotic aftermath of the McDonald’s CEO’s terminationThe new McDonald’s CEO’s quest to win over the massive fast-food giantThe 1,000 word memo McDonald’s new CEO sent to help calm down employees after his sudden, turbulent takeover

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What’s next for WeWorkWeWork this week laid off 2,400 employees, and Meghan Morris got the inside track on the all-staff meetin
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