Latest news with #Starboard
Yahoo
29-05-2025
- Business
- Yahoo
Galxe Launches New Web3 Community Building Platform
Galxe recently announced the launch of a new community engagement platform, dubbed "Starboard." But the new platform is no hard turn for the company, which claims to have onboarded 34 million users into Web3 through its Quest platform. With the new platform, they intend to transition their customer onboarding presence into community management."Starboard represents an additional level to this core capability, giving projects more insight into their communities that they can use to drive powerful growth," Galxe's Head of GTM Patrick Young says. It tracks the life cycle of the client using an "Aura" score for off-chain metrics, like the impact of a social media post, alongside on-chain metrics like trading volume, TVL growth, and more. "Galxe has always played a broader role in web3 growth, offering not only tools for initial engagement but also infrastructure for identity verification, distribution of rewards for long-term community members, and more," Young said. "With Starboard, teams can now double down on their highest-value contributors, allowing them to build highly engaged, long-term communities." Galxe teamed with 20 Web3 companies in this launch. Plume Network, 0G Labs, Dango, RollDex, KRNL, Vanilla Finance, GRVT, Irys, Quranium, Lightlink, Zeta Chain, Cooking City, ChainOpera AI, Aspecta, Zerobase, Bitfi, Analog, Dabba Network and SPACE ID are among its partners. Plume Network has contributed $450,000 to the collective rewards pool. Dango has committed 1 percent of its total token supply, and OG Labs has committed over $100,000. "Similar to Galxe Quest, which has found success through a model where projects fund reward pools to incentivize user participation. Starboard operates on the same principle. Projects provide reward pools to attract core contributors to support and grow their ecosystems, which is a fundamental, ongoing need," Young said. Young pointed out that as more projects join the platform, the dataset will expand, and the accumulated data will become increasingly valuable to the Web3 market. It's questionable whether a community can truly be the utility of a project. As many memecoin projects suggested in 2024, the community is one of the most powerful assets of any Web3 project. Observers consider tools like this part of the maturation of the blockchain space. As we grow, we need to know ourselves and our customers better, on-chain and remains to be seen whether Galxe will successfully establish the new platform as a standard for blockchain projects. Whether their data moat will become a true differentiator in a crowded market of Web3 growth tools is also uncertain. Still, solutions like this will be in demand as blockchain technology becomes more mainstream. Now Read:Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Galxe Launches New Web3 Community Building Platform originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Time of India
26-04-2025
- Business
- Time of India
Loeb's Third Point builds stake in Band-Aid maker Kenvue
By Svea Herbst-Bayliss Billionaire investor Daniel Loeb's hedge fund Third Point is building a stake in Kenvue , sources familiar with the matter said on Friday, as some investors are pushing for strategic changes at the consumer healthcare company. News of Third Point's investment in the $44 billion Summit, New Jersey-headquartered maker of Band-Aids and Tylenol helped push its share price up more than 2% in late afternoon trading on Friday before giving up some gains to close at $23.01. Kenvue, spun out of Johnson & Johnson two years ago, has faced pressure from activist investors for months and avoided a full-blown proxy fight with Starboard Value in March when it added the firm's founder and chief executive, Jeffrey Smith, to its board. Starboard pressed the company to review how it positions its brands and how they are priced in order to boost its performance. Since reaching its agreement with Starboard, Kenvue has faced pressure from Toms Capital Investment Management, another activist firm that also built a stake and wants the company to consider strategic alternatives including a possible sale of the entire company or portions of it, sources familiar with the firm's engagement said. It could not be established how large Third Point's investment is or whether the hedge fund has engaged with Kenvue's board or management. A representative for Third Point declined to comment. The Financial Times first reported Third Point's stake in Kenvue on Friday. Kenvue said it regularly engages with its investors but does not comment on individual investor discussions. The board acts "in the best interests of the company and all Kenvue shareholders and we remain focused on accelerating sustainable, profitable growth and enhancing shareholder value," the company said in a statement. While Kenvue's brands, including Aveeno, Listerine and Zyrtec, are well-known, net sales were flat at $15.5 billion in 2024. The company's stock price, while up 8% this year, has slid 13.2% since being listed as a publicly traded company in May, 2022. Third Point pursues a variety of strategies including, from time to time, activism in which it engages with management to push companies including Advance Auto Parts, Walt Disney and Bath & Body Works to perform better. It oversees roughly $12 billion in assets and returned 25% in 2024, a dramatic increase from a gain of roughly 4% in 2023 and a 22% loss in 2022. Last year, the firm rotated into consumer discretionary, financial and industrial companies that helped fuel returns after a post-election rally.
Yahoo
25-04-2025
- Business
- Yahoo
Loeb's Third Point builds stake in Band-Aid maker Kenvue
By Svea Herbst-Bayliss NEW YORK (Reuters) -Billionaire investor Daniel Loeb's hedge fund Third Point is building a stake in Kenvue, sources familiar with the matter said on Friday, as some investors are pushing for strategic changes at the consumer healthcare company. News of Third Point's investment in the $44 billion Summit, New Jersey-headquartered maker of Band-Aids and Tylenol helped push its share price up more than 2% in late afternoon trading on Friday before giving up some gains to close at $23.01. Kenvue, spun out of Johnson & Johnson two years ago, has faced pressure from activist investors for months and avoided a full-blown proxy fight with Starboard Value in March when it added the firm's founder and chief executive, Jeffrey Smith, to its board. Starboard pressed the company to review how it positions its brands and how they are priced in order to boost its performance. Since reaching its agreement with Starboard, Kenvue has faced pressure from Toms Capital Investment Management, another activist firm that also built a stake and wants the company to consider strategic alternatives including a possible sale of the entire company or portions of it, sources familiar with the firm's engagement said. It could not be established how large Third Point's investment is or whether the hedge fund has engaged with Kenvue's board or management. A representative for Third Point declined to comment. The Financial Times first reported Third Point's stake in Kenvue on Friday. Kenvue said it regularly engages with its investors but does not comment on individual investor discussions. The board acts "in the best interests of the company and all Kenvue shareholders and we remain focused on accelerating sustainable, profitable growth and enhancing shareholder value," the company said in a statement. While Kenvue's brands, including Aveeno, Listerine and Zyrtec, are well-known, net sales were flat at $15.5 billion in 2024. The company's stock price, while up 8% this year, has slid 13.2% since being listed as a publicly traded company in May, 2022. Third Point pursues a variety of strategies including, from time to time, activism in which it engages with management to push companies including Advance Auto Parts, Walt Disney and Bath & Body Works to perform better. It oversees roughly $12 billion in assets and returned 25% in 2024, a dramatic increase from a gain of roughly 4% in 2023 and a 22% loss in 2022. Last year, the firm rotated into consumer discretionary, financial and industrial companies that helped fuel returns after a post-election rally.
Reuters
25-04-2025
- Business
- Reuters
Loeb's Third Point builds stake in Band-Aid maker Kenvue
NEW YORK, April 25 (Reuters) - Billionaire investor Daniel Loeb's hedge fund Third Point is building a stake in Kenvue (KVUE.N), opens new tab, sources familiar with the matter said on Friday, as some investors are pushing for strategic changes at the consumer healthcare company. News of Third Point's investment in the $44 billion Summit, New Jersey-headquartered maker of Band-Aids and Tylenol helped push its share price up more than 2% in late afternoon trading on Friday before giving up some gains to close at $23.01. Kenvue, spun out of Johnson & Johnson (JNJ.N), opens new tab two years ago, has faced pressure from activist investors for months and avoided a full-blown proxy fight with Starboard Value in March when it added the firm's founder and chief executive, Jeffrey Smith, to its board. Starboard pressed the company to review how it positions its brands and how they are priced in order to boost its performance. Since reaching its agreement with Starboard, Kenvue has faced pressure from Toms Capital Investment Management, another activist firm that also built a stake and wants the company to consider strategic alternatives including a possible sale of the entire company or portions of it, sources familiar with the firm's engagement said. It could not be established how large Third Point's investment is or whether the hedge fund has engaged with Kenvue's board or management. A representative for Third Point declined to comment. The Financial Times first reported Third Point's stake in Kenvue on Friday. Kenvue said it regularly engages with its investors but does not comment on individual investor discussions. The board acts "in the best interests of the company and all Kenvue shareholders and we remain focused on accelerating sustainable, profitable growth and enhancing shareholder value," the company said in a statement. While Kenvue's brands, including Aveeno, Listerine and Zyrtec, are well-known, net sales were flat at $15.5 billion in 2024. The company's stock price, while up 8% this year, has slid 13.2% since being listed as a publicly traded company in May, 2022. Third Point pursues a variety of strategies including, from time to time, activism in which it engages with management to push companies including Advance Auto Parts (AAP.N), opens new tab, Walt Disney (DIS.N), opens new tab and Bath & Body Works (BBWI.N), opens new tab to perform better. It oversees roughly $12 billion in assets and returned 25% in 2024, a dramatic increase from a gain of roughly 4% in 2023 and a 22% loss in 2022. Last year, the firm rotated into consumer discretionary, financial and industrial companies that helped fuel returns after a post-election rally.
Yahoo
25-04-2025
- Business
- Yahoo
Loeb's Third Point builds stake in Band-Aid maker Kenvue
By Svea Herbst-Bayliss NEW YORK (Reuters) -Billionaire investor Daniel Loeb's hedge fund Third Point is building a stake in Kenvue, sources familiar with the matter said on Friday, as some investors are pushing for strategic changes at the consumer healthcare company. News of Third Point's investment in the $44 billion Summit, New Jersey-headquartered maker of Band-Aids and Tylenol helped push its share price up more than 2% in late afternoon trading on Friday before giving up some gains to close at $23.01. Kenvue, spun out of Johnson & Johnson two years ago, has faced pressure from activist investors for months and avoided a full-blown proxy fight with Starboard Value in March when it added the firm's founder and chief executive, Jeffrey Smith, to its board. Starboard pressed the company to review how it positions its brands and how they are priced in order to boost its performance. Since reaching its agreement with Starboard, Kenvue has faced pressure from Toms Capital Investment Management, another activist firm that also built a stake and wants the company to consider strategic alternatives including a possible sale of the entire company or portions of it, sources familiar with the firm's engagement said. It could not be established how large Third Point's investment is or whether the hedge fund has engaged with Kenvue's board or management. A representative for Third Point declined to comment. The Financial Times first reported Third Point's stake in Kenvue on Friday. Kenvue said it regularly engages with its investors but does not comment on individual investor discussions. The board acts "in the best interests of the company and all Kenvue shareholders and we remain focused on accelerating sustainable, profitable growth and enhancing shareholder value," the company said in a statement. While Kenvue's brands, including Aveeno, Listerine and Zyrtec, are well-known, net sales were flat at $15.5 billion in 2024. The company's stock price, while up 8% this year, has slid 13.2% since being listed as a publicly traded company in May, 2022. Third Point pursues a variety of strategies including, from time to time, activism in which it engages with management to push companies including Advance Auto Parts, Walt Disney and Bath & Body Works to perform better. It oversees roughly $12 billion in assets and returned 25% in 2024, a dramatic increase from a gain of roughly 4% in 2023 and a 22% loss in 2022. Last year, the firm rotated into consumer discretionary, financial and industrial companies that helped fuel returns after a post-election rally. Sign in to access your portfolio
