Daily business news in the Great State of New York!
NEW YORK — Crisp has raised a total of $50 million in new capital through a $20 million Series B extension round and up to $30 million in debt financing. Existing investors including Blue Cloud Ventures, FirstMark Capital, Spring Capital and 3L participated in the equity round. TriplePoint Capital LLC provided debt to refinance existing senior debt and to fund both operating […]
NEW YORK — Japanese watchmaker Seiko has opened a new flagship store for its Grand Seiko luxury watch brand on Madison Avenue in Manhattan. Located at 540 Madison Avenue in New York City, the new multi-level flagship store is the largest Grand Seiko Boutique in the world. With an impressive presence on the corner of Madison […]
NEW YORK — New York City Regional Center has announced the closing of $19,000,000 in New Market Tax Credit financing to help fund building upgrades and ongoing operating expenses at the Armory Nike Track & Field Center in Washington Heights. The $19 million of funding will assist the non-profit Armory Foundation in continuing its robust after-school youth programming as well […]
NEW YORK — The New York Chapter of the Public Relations Society of America (PRSA-NY) has revealed its new 2024 Board of Directors. Matt Rizzetta, Founder and Chairman of North Sixth Group, a distinguished entrepreneur and visionary in the field, is leading the charge as president. Rizzetta’s tenure promises to carry forward the rich heritage […]
Citigroup is cutting at least 286 jobs in New York City at its global headquarters according to WARN notices filed with the NYS Department of Labor. Reports in January said the company was planning to cut 20,000 jobs over the next two years. Citigroup employed 239,000 full-time workers at the end of December 31, 2023. […]
Brooks Brothers, maker of fine suits for men, has signed Jalen Brunson, All-Star Point Guard for the NY Knicks, as its newest brand ambassador. Highly regarded for his winning style on and off the court, Brunson is the perfect ambassador for the heritage brand and its tailored clothing collection. Brooks Brothers and Brunson both telegraph […]
Governor Kathy Hochul announced $20 million in state funding has been awarded to seven counties and New York City to improve emergency communications and protect New Yorkers. The Statewide Interoperable Communications Grant program funding will be used to aid county governments to improve and enhance local emergency response capabilities by investing in public safety communications […]
BOSTON & NEW YORK — DraftKings has hit it big. The Boston-based online sports betting company has agreed to acquire Jackpocket, the leading lottery app in the United States, for $750 million, with approximately 55 percent of the amount payable in cash and approximately 45 percent of the consideration payable in the Company’s Class A […]
NEW YORK — Pronto Housing—a software solution to make complicated affordable housing processes efficient and easy for everyone — has raised $3 million from Infinity Capital Partners, MRK Partners, Icon National, and others. Pronto’s total funding to date is $9.5 million. The company will use the capital to accelerate Pronto Housing’s mission of shaping the future […]
NEW YORK — NLX, which is developing AI to power customer service for large and enterprise brands, has raised $12 million in Series A funding, led by Cercano and joined by Thayer Ventures and HL Ventures. Initial investors IAG Capital Partners, JetBlue Ventures and Tech Square Ventures’ Engage also contributed to this new round of funding. […]
QUEENS, NY — The New Terminal One at New York John F. Kennedy International Airport announced Jennifer Aument as its incoming CEO, set to assume the role on April 1, 2024. The New Terminal One is currently under construction with its first gates scheduled to open in 2026, in partnership with the Port Authority of New York & New Jersey, as part […]
QUEENS, NY — Midea, a maker of heat pumps, water heaters and other products for the Heating, Venting and Air Conditioning (HVAC) industry, opened its first national showroom and distribution center in Queens with a special ribbon-cutting event attended by a representative of New York Governor Hochul’s office, New York Congresswoman Grace Meng, representatives from Con Edison and PSEG and other […]
NEW YORK — Prosek Partners, an integrated marketing and communications firm, has opened its new flagship office in New York City. Located in the NoMad neighborhood at 28 East 28th Street and Madison Avenue, the 34,000 square foot office spans the building’s 15th floor, creating an open space that fosters both creativity and connection. Since […]
Paramount Global is laying off 347 workers in New York according to a WARN notice filing with the NYS Department of Labor. Paramount is a leading media company that operates the CBS TV network along with cable networks MTV, Comedy Central, VH1, Nickelodeon, Showtime, BET and the streaming network Paramount Plus. The company has over […]
NEW YORK — Empire State Realty Trust, Inc. has signed a new lease with Hanover Street Capital, a commercial real estate platform that provides comprehensive services for Deutsche Bank’s commercial and multifamily real estate financing business, for a 12,622 square foot space at 250 West 57th Street. [Photo above: The building at 250 West 57th Street; […]