Expensify CEO slams corporate America’s response to the Capitol riots: ‘Defending the free market does not mean standing by as people destroy it’

Summary List Placement As more companies publicly condemn the violent attacks on the US Capitol and pause their financial support for the lawmakers who helped fuel an attempted insurrection, Expensify CEO David Barrett has harsh words for the holdouts. “Most CEOs, it’s not that they’re bad people, they’re just cowards. They’re like, ‘yeah, I would like to take a stand, but I can’t because of investors, customers and things like this,’” he told Protocol in an interview Tuesday. “It basically comes down to, ‘I care more about hitting the next quarter results than preventing a civil war,’ which is so f—ed up. They’re more afraid of their investors than they… Read More

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Wattpad, the storytelling platform, is selling to South Korea’s Naver for $600 million

Wattpad, the 14-year-old, Toronto-based, venture-backed storytelling platform with reach into a number of verticals, is being acquired by Naver, the South Korean conglomerate, in a $600 million cash-and-stock deal. Naver plans to incorporate at least part of the business into another of its holdings, the publishing platform Webtoon, which Naver launched in 2004, brought to the U.S. in 2014, and that features thousands of comic strips created by its users. It also has a huge audience. According to Naver, Webtoons was averaging more than 67 million monthly users as of last August. On its face, the deal appears to make sense. According to Korea’s Pulse News, some of  Korea’s webtoons… Read More

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Peter Thiel bought an $18 million island estate in Miami that was once featured on MTV’s ‘The Real World’

Summary List Placement Tech billionaire Peter Thiel bought an $18 million house in Miami which was once featured as the main set in MTV’s “The Real World,” Business Insider has learned. Thiel purchased the Real World house, and a similar house on the lot next door, in September through an anonymized LLC called Atlantic View Holdings, property records show. The property was previously owned by Jacques Nasser, the former president and CEO of Ford. Though Thiel isn’t listed on the deed, his new address was revealed in an email exchange with Miami Mayor Francis Suarez, which Business Insider obtained through a public records request. Suarez and Thiel ate lunch together… Read More

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Read the email Expensify’s CEO sent to customers on MLK Day outlining the company’s plan to fight injustices with a ‘highly experimental’ crowdsourced campaign

Summary List Placement Expensify plans to donate an additional $3 million toward causes tackling a range of “systemic injustices” in 2021 through its charity arm, Expensify.org, the company announced on Monday. In an email to customers, CEO David Barrett outlined Expensify’s “highly experimental” new approach, which will involve “crowdsourcing the best ways to spend these funds” and giving them directly to volunteers working on five categories of causes: climate change, homelessness, hunger, reducing recidivism, and youth-related issues. The email, which was sent on Martin Luther King Jr. Day and quoted at length from one of the civil rights activist’s speeches, “The Other America,” outlined how Expensify would rely on volunteers… Read More

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