Author: Swaraj

A platform for private market assets, Yieldstreet will reimburse some of its legal expenses stemming from a problematic series of Marine loans, but their customers are less lucky. According to communications to clients, the company said it will get $5 million from a settlement with the borrowers who defaulted on these marine loans, in letters acquired by CNBC last week. Despite this agreement, Yieldstreet stated that “far exceeds the total settlement amount” the expenses related to the recovery efforts; therefore, it is unlikely that investors will get any refunds. The corporation indicated that the agreements are almost finished and that financial reports showing losses will be turned in by February. Yieldstreet acknowledged in the investor letter, “We realize that this result is upset...

On Thursday, the valuation of the design tool creator Figma saw a stunning and significant rise of more than 250% to close at over $117 per share. This increase followed the successful fundraising of the company, which was more than $1.2 billion through its IPO (initial public offering), therefore exceeding the Figma’s stock predicted range of $30 to $32 given in SEC documents earlier this week. Dylan Field, the 33-year-old CEO of the firm, has thus achieved the status of a billionaire. Field, a former Thiel Fellow, started working on the project with his Brown University friend Evan Wallace in 2012 to create Figma. In 2015, the firm debuted a closed beta release of its offering. Through its web browsers, Figma intends to offer users a complete set of design tools that are accessible to...