Many brands are beginning to see a recovery despite the challenges initially posed by the pandemic. Some companies, especially those that have focused their efforts on expanding e-commerce businesses, have even seen their profits increase even more than before.
HYPEBEAST has rounded up the best business and crypto stories of the week so you can stay on top of trends across industries.
1. Alphabet, Google’s parent company, surpassed $200 billion in annual revenue for the first time
Alphabet released its Fourth Quarter and Full Year 2021 Results, with revenue of $257 billion, a 41% year-over-year increase. The company also announced plans for a 20-for-one stock split.
Nike Inc. becomes a WNBA stock investor
The partnership will allow Nike to help grow the league by providing expanded exposure for WNBA athletes and creating additional opportunities for girls to play basketball. Through this investment, Nike’s main objective is to provide the league with the necessary resources to accelerate its growth over the long term.
?#WNBAis the very first capital increase?
The biggest fundraiser ever for a women’s sports property? with investors who may seem familiar?
Full version ⤵
—WNBA (@WNBA) February 3, 2022
3. Snap Inc. had its first profitable quarter as a public company
Snap Inc. released its Financial results for the fourth quarter and full year 2021, noting a positive net profit for the first time as a public company. For the full fiscal year ended Dec. 31, Snap’s revenue grew 64% to $4.1 billion.
4. The New York Times acquired popular online game Wordle
Wordle is expected to join the New York Times Games portfolio less than six months after its release in October 2021. According to the The temperaturethe game gained traction in late 2021/early 2022 with almost 300,000 players and currently has millions of daily players.
The hit Wordle game was purchased by the New York Times Company for a price “in the seven figures”, the company said. https://t.co/XZhY6kW3mv
— The New York Times (@nytimes) January 31, 2022
5. Supreme’s parent company, VF Corp, reported third-quarter revenue of $3.6 billion
Denver-based VF Corporation, which owns and operates notable brands such as Supreme, The North Face and Vans, released its third quarter fiscal 2022 report. He announced that revenue from continuing operations increased 22% to US$3.6 billion, and constant dollar revenue increased 16%.
1. Meta Lost $10 Billion Building the Metaverse in 2021
Facebook’s parent company has announced its Fourth quarter and full year 2021 results and revealed massive losses by its Reality Labs division. The company’s net profit in 2021 was US$39 billion.
2. The Crypto Diem Project sells its assets
The cryptocurrency project founded by Meta CEO Mark Zuckerberg is selling its intellectual property and other assets to Silvergate Capital Corporation. In one declarationCEO Stuart Levey said the project ran into obstacles from federal regulators, preventing it from moving forward.
7/7 In the US, a high-level regulator informed us that Diem was the best-designed stablecoin project the US government had seen. Full statement: https://t.co/opqtzEm7Cg
— Diem Association (@DiemAssociation) January 31, 2022
3. Disney is looking to hire NFT experts
Billed as a business development manager, the hire “will help lead Disney’s efforts in the NFT space, including monitoring market developments, setting category strategy, and managing key partners.” , according to job description. Applicants should have at least five years of licensing or business development experience, as well as a “passion for the digital and NFT categories.”
4. BSTX will become the first SEC-approved blockchain-powered exchange
The new exchange, which is a joint venture with tZERO, differs from traditional institutions like NASDAQ, Chicago Mercantile Exchange, and New York Stock Exchange in that it will offer same-day and next-day payment settlements and will operate on a private blockchain. It will also allow anonymous viewing of member activity.
The SEC approves BSTX as a new national securities exchange facility. BSTX will be the first SEC-regulated stock exchange to offer T+0 settlement and blockchain-powered market data reporting. @lisajfall @tZERO https://t.co/IV7dE7J1kp
– BSTX (@BSTXXLC) January 28, 2022
5. Kobe Bryant’s estate is preparing to enter the metaverse
Kobe Inc., a company founded by Kobe Bryant now controlled by his estate, has filed multiple trademarks for expansion into virtual and digital goods. Three trademarks were filed with the U.S. Patent and Trademark Office on January 28 and include the words: “Kobe Bryant,” “mamba forever” and “Mambacita.”