Latest news with #post-LaborDay
Axios
4 days ago
- Business
- Axios
Communicator Spotlight: Nairi Hourdajian of Figma
Nairi Hourdajian serves as chief communications officer at the collaborative design software company, Figma. Why it matters: Figma recently filed to go public, becoming the first U.S. unicorn to break the dam for post-Labor Day IPOs, Axios' Dan Primack points out. Catch up quick: Hourdajian got her start working on Capitol Hill and for political campaigns before joining Uber in 2013 as head of global communications. She then ran marketing and communications for early-stage venture capital firm Canaan before joining Figma in 2020. What she's saying: "I love working for founder-led companies because it reminds me a lot of working for political campaigns," she told Axios. "The politician's brand and the message of the campaign are inexorably linked. And that passion and care that a politician has for every detail of their campaign is very similar to how a founder cares for every detail of how their company is run." Plus, both rely on finding and engaging with the most dedicated user bases, she added. "One of the things that I really believe, that I learned from politics, is that the intensity of sentiment is the most important thing that you can have," Hourdajian said. "So when you're doing that first poll about a potential candidate, all you need to see is that there is a really passionate sentiment about that person, even if the number of people who know them is small, because then you know that once they get to know the candidate, that that can potentially spread." "The same is true for products or for any brand or company. When you're building a brand, you need to inspire that kind of passion." State of play: Hourdajian sits on the senior leadership team and reports to Figma chief marketing officer Sheila Vashee. She oversees the team responsible for communications, corporate affairs, brand marketing and community and experiential marketing. "I think of comms as a brand strategy function," she said. "You're essentially showing the world who you are through your actions. And so, how are you advising the business? How are you driving ideas, messages, stories and tactical executions that tell the story that is important to tell for your business?" Zoom in: Her team just executed their sixth Config — an annual conference for Figma users and community members — and supported the launch of four new products. The company is also focused on growing internationally, Hourdajian says, with offices now in Berlin, London, Singapore, Sydney and Tokyo. What to watch: Communicating with a consumer lens. "We're a brand that mostly makes money B2B but we have a very strong consumer patina to our brand [because] enterprise buyers are people too," she said. "There's no reason that the language, the tactics, the execution, the visuals need to be worse or archaic or boring just because you happen to be a B2B company versus a consumer brand. And bringing a consumer lens to every company, no matter what space you're in, is something I'm really passionate about." She's also paying close attention to the marketing and comms strategies coming out of Oatly, Nike and Peloton. Best career advice: Do not have a five-year plan. "You will limit your option space by accident. Wherever you are, in whatever role, if you're learning, being challenged and enjoying the role then stick with it. If those things start to not feel true anymore, pick up your head. Look around, but be open. You don't know where you could end up."
Axios
01-07-2025
- Business
- Axios
Figma files for an IPO
Figma, a collaborative design software firm that once agreed to be acquired by Adobe for $20 billion, disclosed its IPO prospectus on Tuesday. It previously had filed confidentially. Why it matters: Figma becomes the first U.S. unicorn in line for what's expected to be a large group of post-Labor Day IPOs, although it technically could price before then. By the numbers: Figma reports a $732 million net loss in 2024 on $749 million of revenue, versus $738 million of net income in 2023 on $505 million of revenue. The 2024 loss is explained by a one-time charge tied to a May 2024 stock tender offer, while its 2023 gain was boosted by a $1 billion termination fee from Adobe. Its Q1 financials are $45 million of net income on $205 million in revenue. Top shareholders include Index Ventures (16.8% pre-IPO stake), Greylock (15.7%), Kleiner Perkins (14%), and Sequoia Capital (8.7%).
Axios
01-07-2025
- Politics
- Axios
From lane-splitting to the state fossil, these are Minnesota's newest laws
Parched concert-goers, motorcyclists and young social media influencers get new protections in Minnesota as of July 1. The big picture: A long list of laws taking effect, including changes targeting those three groups, will impact Minnesotans' lives in ways big and small. State of play: Many of the new provisions, including tens of billions of dollars in spending, passed as part of the two-year state budget last month. Zoom in: Here are some of the notable new laws, according to an annual list released by the Minnesota House's Public Information Services. 💧 Venues hosting ticketed events for 100 or more attendees must provide free water and allow people to bring sealed or empty water bottles inside. 🏍️ Motorcyclists can legally pass between lanes of traffic under a new lane-splitting law that supporters say is aimed at improving flow and reducing accidents. The fine print: They have to be traveling in the same direction and going 25mph or less. 📲 Some kids featured in online videos or photos posted by "content creators" will be guaranteed a portion of the profits — which must be deposited into a trust account until they turn 18 — under a first-of-its-kind law meant to protect young people from exploitation. 🦫 In news that lovers of paleontology and astronomy will appreciate: Minnesota now has a state fossil (the giant beaver) and constellation (Ursa Minor, aka the Little Dipper). 🤒 Employers may request a doctor's note after a worker takes two or more days off under the state's guaranteed paid sick time law. The original law allowed workplaces to ask for documentation after three days. 📆 Districts can move the first day of school up to Sept. 1 — instead of the traditional post-Labor Day start — for the 2026-27 and 2027-28 academic years, when the holiday falls in the second week in the month. Other changes encourage school boards to add a student representative and allow students to carry — and use — anti-overdose medicines like Narcan on campus. 🎣 Open season for largemouth and smallmouth bass now lasts all year. 🛥️ As we reported last week, boaters under 21 need a permit to operate a vessel without supervision. 👶 Pediatricians must tell parents about signs of infant abuse and give instructions on how to report suspected issues.
Mint
01-07-2025
- Business
- Mint
Europe's IPO Bankers Pin Hopes on Fall Window as Revival Falters
(Bloomberg) -- After the slowest first half for European initial public offerings in more than a decade, dealmakers are banking on several large transactions to reignite the market later this year. IPOs in the region have raised roughly $5.52 billion so far in 2025, a 60% decline from a year ago, according to data compiled by Bloomberg. Turmoil unleashed by President Donald Trump's tariffs froze the market for weeks, and while some firms have since launched offerings, others deferred or canceled debuts. Europe's IPO recovery since has trailed Asia and North America. But with new and postponed deals penciled in for the second half, advisers hope European offerings can recover at a time when investor interest in the region has been rekindled by the prospect of increased defense spending and fiscal stimulus. 'There are a handful of European IPOs lined up for September or October that are true landmark events,' said Martin Thorneycroft, global co-head of equity capital markets at Morgan Stanley. Private equity firm Hellman & Friedman is considering a listing of security company Verisure in Stockholm as soon as this year that could value the business at more than €20 billion ($23.5 billion) including debt, Bloomberg News has reported. German stock exchange operator Deutsche Boerse AG is mulling a potential $1 billion share sale for its unit ISS Stoxx GmbH as soon as the second half. 'The bigger tests for the European IPO market come post-Labor Day when we should see some jumbo transactions,' said Alex Watkins, co-head of international ECM at JPMorgan Chase & Co., referring to the early-September US holiday that traditionally marks the start of the fall window. He sees the market picking up globally in the second half, 'setting the stage for a stronger IPO year in 2026.' Smaller and mid-cap companies have made up the bulk of issuance over the last six months. The region's biggest offering came from Asker Healthcare Group AB in Sweden, which raised about 10 billion Swedish kronor ($1.05 billion) and has soared since its debut. Others have had a bumpier start as listed companies, with Spain's travel technology firm HBX Group International Plc still trading below its offering price after its transaction raised €748 million ($880 million). Some companies have shelved plans to debut, with German online car-parts retailer Autodoc SE postponing its Frankfurt IPO, though the offering drew enough demand to cover the deal. Glencore Plc-backed Cobalt Holdings Plc also decided not to move forward with a $230 million London float. Still, others are forging on with plans to go public before the summer lull. German medical technology firm Brainlab SE is set to debut this week after a Frankfurt IPO that's expected to raise €320 million, while Blackstone Inc.-backed casino operator Cirsa Enterprises SA announced plans for a Spanish listing. How these deals fare will be important for encouraging more issuers to come to market, according to Luca Erpici, co-head of ECM at Jefferies Financial Group Inc. for Europe, the Middle East and Africa. But, ultimately, the success of any IPO will hinge on its own merits more than market momentum. 'It really comes down to the quality of the business, valuation and offer size,' Erpici said, adding that adjusting the size of an IPO is one of the 'key levers' sellers are using to ensure deals go well. For example, Blackstone Inc. injected fresh cash into Cirsa before the IPO was announced by raising payment-in-kind debt. Its offering is now set to raise about €453 million, with the bulk of the proceeds going toward lowering its debt. While Europe has seen successful large IPOs in recent years, mid-sized companies have generally had a harder time going public. The rise of index-tracking funds has lured away some of the traditional buyers for IPOs, and the higher interest rates that followed the Covid-19 pandemic increased the pressure on private equity-backed companies that have taken on debt, reducing their appeal to investors. New offerings also have to contend with trade and geopolitical uncertainty. 'Volatility is here to stay, or at least more so than we have been used to, so markets are learning to live with that, and, selectively, companies will continue to come to market,' said Lyle Schwartz, senior managing director and EMEA ECM lead at Evercore Inc. Companies that postponed listing plans earlier in the year could test the market again in the coming months. German pharmaceutical firm Stada Arzneimittel AG had postponed its planned IPO in March and Nordic Capital's Noba Bank Group AB pushed back plans to launch an IPO into the second half of the year. Others like SMG Swiss Marketplace Group AG, the operator of online real estate portal ImmoScout24, could also list as soon as this year, Bloomberg News has reported. 'Many IPOs have been deferred to after the summer, so September will be the real benchmark for the IPO market,' said Gareth McCartney, global co-head of ECM at UBS Group AG. Still, there's a risk that deals slip into next year because of company developments and the potential for markets to shift. 'You can see five or six European IPOs coming after Labor Day, but I don't think we're going to see a massive wave,' said Andreas Bernstorff, head of ECM at BNP Paribas SA. 'It's also unsure whether all will end up coming this year because of issues like leverage, and a lot of clients are considering what to do.' More stories like this are available on
Yahoo
25-06-2025
- Business
- Yahoo
These are the Big 3 issues to watch in Boston's mayoral race — and one sleeper
If you live in Greater Boston and you've been within 10 feet of your television, laptop or cellphone over the last couple of weeks, then you're well aware that the race for Boston City Hall is in full swing. Forces aligned with incumbent Democratic Mayor Michelle Wu and her main Democratic challenger, philanthropist Josh Kraft, have launched an all-out assault on voters' attention spans with a series of attack advertisements on TV, online and by text message. More about that in a minute. But first, with Election Day still four months away and Massachusetts in the grip of its first summer heat wave (100 degrees!), the chances are pretty good that you're thinking less about politics and more about trips to the pool, that vacation on the Cape and how you're going to get the kids to day camp. So, before you unplug entirely and stop paying attention until the traditional post-Labor Day reboot, here's a quick look at the Top 3 issues that have shaped the campaign so far, and one sleeper that you should keep at the back of your mind as well. Spend even a couple of minutes with a Bostonian, and it's pretty much guaranteed that talk will soon turn to the city's preposterously high housing costs. How high? The median home price in the city in May was $845,986, a 4.5% increase over the prior 12 months, according to Rocket Mortgage data. The average rent (a different metric) was $3,767, according to RentCafe data. But rents in some neighborhoods, such as Back Bay, Beacon Hill and the South End, are much higher. So, it's also not surprising, then, that the topic dominated a mayoral forum last month. Wu and Kraft both said they supported some form of rent stabilization. Unlike the incumbent, however, Kraft said he opposed a transfer fee on high-value real estate transactions. Critics have charged that Kraft's embrace of rent control may be a calculated move, since the issue is a winner with city voters. In 2023, Wu unsuccessfully pitched the Legislature on a plan that would have capped annual rent increases at 10% or the inflation rate, plus 6% — whichever was lower, according to published reports. Kraft's plan, which would be voluntary, asks landlords to cap rents at the inflation rate, plus 5%, for a decade, GBH News reported. '[Kraft's proposal] is not rent control, but the fact that he's proposing it shows how significant an issue housing has become for the city,' Josh Zakim, a former city councilor who now runs a housing advocacy group, told The Boston Globe. 'It's the biggest issue facing the city and the commonwealth, and I don't think you can run a serious campaign for public office here without a plan to address it.' The two also have very different visions for increasing the city's stock of affordable housing, though they both agree that it's badly needed. One policy at issue is inclusionary zoning, which requires new residential developments with seven or more units to set aside at least 20% of units as affordable housing. Kraft has said he believes a 13% threshold is more reasonable. Public safety and crime — particularly in Boston's downtown core — also has emerged as one of the key flash points in the race. Kraft has vowed to clean up the open-air drug market at Massachusetts Avenue and Melnea Cass Boulevard, an area locally known as 'Mass and Cass.' He's also promised to take the same approach to the city's Downtown Crossing neighborhood, which has been beset by rising crime and addiction challenges. In April, Kraft called for a mix of increased law enforcement, as well as what he described as a 'recovery-first' approach to helping people living with addiction and housing and other services to get people off the street. Wu, who has repeatedly stressed that Boston is among the safest big cities in the nation, countered that 'some of what has been put forward in [Kraft's] so-called 'plan' are items that already have been in progress, and that the [Boston] police department and our Public Health Commission and the city have already implemented. Some are points that we have evaluated and do not believe would move us in the right direction.' Wu also used that debate as cover to bring up one of her favorite criticisms: That Kraft, despite working in the city for decades at the Boys & Girls Club, is still a newcomer to city politics. 'Overall, I think what's concerning here is that there's, you know, this isn't a new issue, and we're not parachuting into a conversation,' Wu told GBH's 'Boston Public Radio' program earlier this year. 'I've had the chance as a city councilor and now as mayor, to be involved from day one and within the first two months of our administration.' As one legendary Boston pol, the late Tip O'Neill, once noted: All politics is local. And it doesn't get much more local than the hotly debated plan to redevelop the historic White Stadium in Franklin Park. Wu and Kraft, the son of billionaire New England Patriots owner Robert Kraft, have most recently sparred over the cost of the redeveloped stadium, which will be home to Boston's new professional women's soccer team. Kraft has claimed the city will be on the hook for $170 million for construction and associated costs. That's just about double the $90 million price tag offered by Wu's office. Pressed for specifics, Kraft recently said that 'folks on the inside at City Hall' had passed along the higher estimate. In an interview with WBUR on Tuesday, Wu called Kraft's math on the stadium 'quite irresponsible.' She told the station his numbers are 'not real.' ' Honesty and integrity are really important,' Wu told WBUR. 'To pull something out without context, and misuse that, and apply something that's a completely false context, I think says a lot.' Away from the numbers, the fight over White Stadium has become a proxy for what Kraft says is one of the fundamental issues of Wu's administration: That Wu does not heed city residents' concerns. A group of Franklin Park neighbors has voiced their concern about bringing hectic professional athletic competitions to the public park. Some critics, Kraft included, contend the city is giving away a public facility to a private team that will prevent full access for Boston's student-athletes. Wu has defended the project, also the target of court fights, saying it will bring badly needed new facilities for city school students who will have access to the stadium 'for 15 hours per day, more than 345 days of the year.' Under an agreement with the city, Boston Legacy FC, will use the faciliy for 20 games and 20 practices each year. 'I will not apologize for investing nearly $100 million into this community, into Black and Brown communities, into our students, and into the [Boston Public Schools] BPS,' she said, according to GBH News. 'We deserve this, and we deserve to have the opportunity that generation after generation has passed us by.' We'll stipulate up front that campaigns are won and lost on how effectively candidates connect with voters and articulate their respective visions. But if you really want to know what seismic forces are shaping a campaign, follow the money. Super PACs supporting both Wu and Kraft have flooded the mayoral contest with cash, recently pouring nearly $1 million into the campaign. The pro-Kraft 'Your City, Your Future,' which counts Fanatics owner Michael Rubin, New Balance Chairperson Jim Davis, and Boston Celtics minority owner Rob Hale among its biggest backers, reported raising $230,100 between May 30 and June 18, state filings show. That comes on top of the $2.4 million the super PAC raised in the opening months of the race. That money has underwritten a barrage of attack advertisements. The pro-Wu super PAC Bold Boston reported raising $743,000 between Jan. 1 and June 12, according to a report filed with the state's Office of Campaign and Political Finance. The group reported spending $256,114. The money underwrote a campaign commercial highlighting supporters of President Donald Trump, who donated to a pro-Kraft super PAC. Two big donors to the pro-Wu super PAC included the political arms of the Environmental League of Massachusetts and the American Federation of State, County and Municipal Employees, who respectively donated $175,000 and $50,000, records showed. Out-of-town money also has poured into the contest, according to a MassLive analysis of campaign donations. As of June 3, 45% of Wu's donations came from Boston residents compared to 32% for Kraft. Read more: Yes, immigration is a flash point in Boston's mayoral race. A debate confirmed it | Bay State Briefing State filings showed Wu sitting on $2.3 million in her campaign war chest through Tuesday. Kraft, who injected $2 million of his own money into his campaign, was just behind at $1.95 million, state filings showed. MassLive Reporters Will Katcher and Tréa Lavery contributed to this analysis. Mass. Senate set to make its first move against Trump in 2025 | Bay State Briefing How Beacon Hill bosses quietly buried reform bills that threatened their power Markey Warns: Rural health crisis looms if Big Beautiful Bill passes | Bay State Briefing Read the original article on MassLive.
