Startup news and updates: Daily roundup (November 11, 2021)
After making a promise on Twitter, Tesla CEO Elon Musk has sold about 9,00,000 shares of the electric car maker's stock, netting over $ 1.1 billion that will go toward paying tax obligations for stock options.
The sales, disclosed in two regulatory filings late Wednesday, will cover tax obligations for stock options granted to Musk in September. He exercised options to buy just over 2.1 million shares for $ 6.24 each. The company's stock closed Wednesday at $ 1,067.95 per share.
French glass and construction material maker Saint-Gobain on Wednesday said it has acquired a minority stake in home interiors and renovation platform. Details about the investment were not disclosed. Livspace is a digital-first intermediation platform offering end-to-end solutions for home interiors from design to installation, serving around 20,000 homes annually in India.
First-of-its-kind NFT startup Lysto on Thursday announced that it raised $3 million in seed round from BEENEXT, Better Capital, Cloud Capital and other investors, to democratise the global adoption of NFTs. According to an official statement, the fresh fund will be utilised in product development and will allow Lysto to invest in the expansion of its team that will help achieve its mission of furthering and simplifying the adoption of NFTs.