Tag: insiders

04
Oct
2020
Posted in technology

Business Insider’s top advertising and media stories for October 5

Hi! Welcome to the Insider Advertising daily for October 5. Lucia Moses here, filling in for Lauren Johnson.

Today’s news: Tech chiefs to testify, why Pepsi isn’t following Coke into hard seltzer, and Triller user numbers disputed.

First: remember to subscribe here to get this newsletter daily.


ted cruz jack dorsey twitter

Sen. Ted Cruz, left, and Twitter CEO Jack Dorsey.

AP/Jacquelyn Martin; AP/Jose Luis Magana


The CEOs of Facebook, Google, and Twitter will all testify before Congress, days before the election, over legal protections for internet companies

Read the full story here.

pepsi pepsico



AP Photo/Paul Sakuma


PepsiCo’s CEO explains why it’s shying away from hard seltzer even as Coca-Cola moves into booze

Pepsi and Coke have been taking different paths when it comes to selling beverages to pandemic-weary consumers.

PepsiCo is focused “100%” on its strategy in energy drinks, CEO Ramon Laguarta said on the company’s earnings call Thursday in response to a question about whether it would¬†follow Coca-Cola¬†into hard seltzer.

He indicated energy drinks offer more long-term potential while hard seltzer could be shorter-lived.

Read the full story here.


Mike Lu, CEO, Triller

Triller CEO Mike Lu.


American Express Business/YouTube



Insiders say TikTok rival Triller reported monthly active users that were 5 times higher than what some internal metrics showed

Read the full story here.


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30
Sep
2020
Posted in software

Palantir insiders locked out of trading due to software glitch

  • Palantir insiders were temporarily unable to sell shares Wednesday due to an issue with Morgan Stanley’s trading software, CNBC first reported and Morgan Stanley confirmed to Business Insider.
  • The data-mining company went public Wednesday morning via a direct listing at $10 per share, but took a page from the traditional IPO process by having a “lock-up” period for existing investors.
  • Palantir still allowed those investors to sell up to 20% of their shares during the lock-up, but according to CNBC, some initially couldn’t take advantage of it because of a software glitch.
  • A Morgan Stanley spokesperson told Business Insider the company “experienced slowness that may have resulted in delayed logins into our system” but that its call centers were able to execute trades “at all times.”
  • Palantir’s stock jumped as much as 14% per share in early hours, but dropped again later in the day.
  • Visit Business Insider’s homepage for more stories.

Palantir went public on Wednesday, giving existing investors a chance to offload some of their shares. But some were temporarily unable to do via Morgan Stanley’s trading platform because of a software glitch, CNBC first reported and Morgan Stanley confirmed to Business Insider.

While Palantir used a direct listing process (DLP) instead of a traditional initial public offering (IPO), it took a page from the IPO process by setting a “lock-up” period for existing investors such as employees, founders, and venture capitalists to limit some volatility.

Still, it allowed those insiders to sell up to 20% of their shares immediately upon the stock’s debut Wednesday morning.

But according to CNBC, some current and former employees couldn’t get in on the initial action because Morgan Stanley’s Shareworks trading platform, through which they were supposed to be able to sell shares, wasn’t functioning properly.

“We experienced slowness that may have