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GM-Backed Electric Boat Startup Pure Watercraft Enters Receivership, Selling Assets in 2023
Pure Watercraft, a Seattle-based electric boating startup backed by General Motors, entered receivership in July 2023 and is selling its assets amid financial struggles. The company raised $37 million, including a $150 million investment from GM, which held a 25% stake and valued Pure Watercraft at $600 million in 2021.
Jane Park on SPACs, the immigrant ethos, and brands in the Amazon era
Jane Park, the CEO of newly public Athena Consumer Acquisition Corp., hadn't imagined herself leading a special purpose acquisition company, or SPAC, before accepting the job. She decided to consider the pitch from venture capitalist Isabelle Freidheim for one reason. “It took some convincing, a little bit. I wasn’t sure if I had the right capabilities. I have always sat on the entrepreneur side. So to be on the acquiring/money side is a new perspective and vantage point for me,” she said. “I don’t think I would have taken the call if it wasn’t the fact that it was an…
OfferUp names Niti Bashambu CPO after $120M raise and $1.4B valuation; Flyhomes appoints Amy Sellers VP of Marketing
OfferUp hired Niti Bashambu as chief product officer after raising $120 million and reaching a $1.4B valuation; Flyhomes named Amy Sellers VP of marketing as it expands across five markets. Promethean also hired Chris Hand as chief revenue officer.
