TaskUs worth $500 million following latest funding round; Stamps.com stocks fall after Post Office comment; Heineken passes on Snapchat in favor of other social media outlets.
Santa Monica-headquartered tech support outsourcing company TaskUs announced Aug. 9 it secured $250 million in an investment round. According to Socaltech, the funding was raised by private equity investment firm Blackstone Group. This latest funding round brings the company’s total valuation to $500 million.
El Segundo-headquartered online shipping company Stamps.com Inc. saw stocks fall roughly 7 percent after reporting in a quarterly SEC filing that its business arrangement with the United States Postal Service could change. According to CNBC Tech, the USPS maintains service agreements with private companies so they can receive special rates on postage, but Stamps.com noted it could “decide to amend, renegotiate, discontinue or terminate one or more of our financial compensation arrangements that exist now or in the future.”
Heineken USA Inc. is reportedly uneasy about advertising on Snapchat, even for its non-alcoholic beer. Despite Snap Inc.’s efforts to distribute ads appropriate to the user’s age, Heineken has opted to advertise on Facebook and YouTube instead. Additionally, Heineken’s focus on adult drinkers led them to feel the scale of Snapchat was too small, Digiday reports.