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Finance

Providing perspective and contextual insights on the monetary aspects of the Finance industry within the state of Utah, from Banking to FinTech and from venture capital to cryptocurrency.

ICYMI: The Top Six Stories from the First Half of July 2023

ICYMI: The Top Six Stories from the First Half of July 2023

From the powerful message of the movie Sound of Freedom to the $1.1 billion company valuation boost Recursion Pharmaceuticals gained after accepting a $50 million private investment from NVIDIA, we deliver our perspectives on each of the top 6 money stories in Utah for first half of the month

Sarcos Announces Layoff of Approximately 25% of its Staff (~70 People)

Sarcos Announces Layoff of Approximately 25% of its Staff (~70 People)

As part of its Reduction-in-Force, Sarcos has also eliminated its COO and CMO positions. The company is also realigning its focus to the subsea, aviation, and solar markets, as well as its AI-driven solutions. Near the end of the trading day on Wall Street yesterday, Salt Lake City-based Sarcos Technology

NVIDIA's $50 Million Investment in Recursion Pharmaceuticals Proves Recursion is on the Right Path

The surprise $50 million PIPE investment by one of the hottest companies on the planet into Salt Lake City's top "TechBio" company has nearly doubled Recursion's market capitalization in just two days to almost $2.3 billion. In other words, NVIDIA's $50MM

Utah's DOT Recommends $729 Million Gondola-B Alternative for Little Cottonwood Canyon

Utah's DOT Recommends $729 Million Gondola-B Alternative for Little Cottonwood Canyon

$150 Million in funding was authorized earlier this year by Utah's Legislature to help pay for Phase I of the 3-Phase project, beginning with 1) creation of a Park & Ride at the gravel pit near the base of the canyon, 2) expansion of canyon bus service, and

For $317 Million, all of Utah will Finally have Access to a Broadband Internet Connection ... Soon-ish

For $317 Million, all of Utah will Finally have Access to a Broadband Internet Connection ... Soon-ish

It's not cheap - nearly $4,600/Utah household - but with ~$42.5 billion in total funding, all Utahns and Americans are slated to have broadband availability sometime before 2028, courtesy of the Broadband Equity, Access, and Deployment (BEAD) program within the U.S. Department of Commerce

Wait ... Someone in Lehi is Manufacturing Solar Panels? Yup.

Wait ... Someone in Lehi is Manufacturing Solar Panels? Yup.

The fact that this manufacturing fab is part of California-based Complete Solaria which is on the cusp of becoming a public company via a ~$350 million SPAC Merger with Freedom Acquisition I Corp. presents an intriguing opportunity for GO-Utah (the Governor's Office of Economic Opportunity) and others. In

"Venture Services" Firm RevRoad Lands $15 Million in New Funding

"Venture Services" Firm RevRoad Lands $15 Million in New Funding

With more than $25 million in total outside monies now invested in the Provo-based firm, RevRoad looks to accelerate its growth, both in Utah and Florida, home of its second base of operations. Although many might consider RevRoad a "venture accelerator," CEO and Co-Founder, Derrin Hill assured me