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Faraday Future Looking To Raise $1 Billion As Main Backer LeEco Struggles

Thu May 25 08:05:43 EDT 2017 | Carscoops
Faraday Future is reportedly looking to raise $1 billion in a bid to protect itself from the financial problems of its main backer, Chinese tech giant LeEco. The electric car startup has already started meeting with potential investors and is looking for advisers, according to a source with direct knowledge of the matter who spoke to Bloomberg. LeEco is currently dealing with cash starvation, following a very rapid expansion with businesses all over the spectrum, including electric cars, smartph..


Faraday Future is reportedly looking to raise $1 billion in a bid to protect itself from the financial problems of its main backer, Chinese tech giant LeEco. The electric car start..
Chinese tech conglomerate LeEco is reshuffling the executive roster of its publicly traded unit, Leshi Internet Information and Technology Corp., as it continues to struggles with ..
LeEco, often called the "Netflix of China," is in the news again, and again it's because another disaster has befallen the company. After announcing a $2 billion merger with T..
LeEco’s financial woes are well documented so far and the time is approaching for the Chinese giant to make a decision whether they should drop their EV project in the US completel..
FILE PHOTO: LeEco's new Le Pro3 phone is on display during a press event in San Francisco, California, U.S. October 19, 2016. RETUERS/Beck Diefenbach/File Photo FILE PHOTO: Jia Yue..
Chinese technology conglomerate LeEco said it plans to eliminate about 325 jobs in the U.S. and sharply reduce research and development operations, after struggling to raise funds ..
Chinese consumer electronics company LeEco officially put the brakes on its ambitious U.S. expansion plans Tuesday, laying off 325 of its U.S.-based staff and in turn acknowledging..
Leshi Internet Information & Technology Corp., the Chinese consumer electronics company better known under its brand name LeEco, has replaced its founding CEO Jia Yueting,..
TAIPEI China's embattled LeEco aims to cut its U.S. workforce to around 60 people from about 500 earlier this year, as the Netflix-to-Tesla-like group streamlines global operations..
LeEco confirmed on Tuesday that it will lay off the bulk of its U.S. workforce , as CNBC first reported Monday evening. According to CNET, the company is cutting 325 employees, or ..
Under the restructuring, LeEco will refocus on encouraging Chinese-American consumers to watch LeEco's Chinese content library, one person said. It may also continue to invest in F..
BEIJING/SHANGHAI Chinese tech conglomerate LeEco's sports unit said it completed a new round of funding that valued it at 24 billion yuan ($3.50 billion) and that its investors wil..
Former Lenovo exec Liang Jun is taking over the CEO position. Not that Jia is complaining, mind you -- publicly, at least, he's happy. He claims that this gives the public company ..
LeEco will continue to operate in the US but will focus on the narrower segment of Chinese-speaking households, a spokesperson told Cnet. This partial retreat isn't surprising, as ..
Ford Motor (F) replaced its chief executive, a 28-year company veteran, because major shareholders -- including the founding Ford family -- had the --- about Silicon Valley com..
Chinese company and financial backer of Faraday Future, LeEco, has slashed 70 per cent of its workforce in the United States. CNBC reports that the company’s current U.S. workforce..
In partnership with TechCrunch, The Europas Conference & Awards, is a different kind of tech startup event which features smaller breakout sessions on key subjects for startups..
Quiqup, a London-based delivery startup that operates a “shop on your behalf” app similar to Jinn in Europe or Postmates in the U.S., in addition to a growing B2B business, has rai..
LONDON British luxury carmaker Aston Martin on Wednesday reported its first Q1 profit in a decade, marking a turnaround in its performance which could propel the company toward a m..
WASHINGTON/DEARBORN, Mich. Ford Motor Co (F.N) abruptly named James Hackett as chief executive on Monday, responding to investors' growing unease about the U.S. automaker's slumpin..
If you’re looking to buy something, but don’t want to pay for it yet, Blispay thinks it has the solution for you. The startup works with small and mid-sized businesses to help reta..
Ford Motor Executive Chairman Bill Ford (R) and James Hackett answer questions from the media after announcing Hackett was named Ford Motor Company president and CEO, succeeding Ma..
WASHINGTON/DEARBORN, Mich. Ford Motor Co (F.N) on Monday named James Hackett as chief executive officer, responding to investors' unease about the U.S. automaker's stock price and ..
HONG KONG May 24 Chinese TV and smartphone vendor LeEco said it will lay off 325 employees in the United States as the sprawling, cash-strapped conglomerate scales back operations ..
TechCrunch is pleased to bring you Alchemist Accelerator‘s demo day. Alchemist is one of those rare programs that focuses on enterprise startups. These aren’t your parents’ enterpr..
Bike sharing has taken a turn in the U.S., following trends in China. The new mode is “dockless,” where companies distribute bikes around a city or campus to be rented per trip ins..
Managed marketplaces (also known as end-to-end or full-stack marketplaces) have been one of the hottest categories of venture investment over the past several years. Recent example..
On Tuesday, the main financial backer of Faraday Future, Chinese company LeEco, slashed its U.S. workforce by 70 per cent. Despite these significant cuts, FF claims that it is unaf..
PARIS/DETROIT Ford Motor Co. is set to replace Chief Executive Mark Fields with James Hackett, the head of its mobility arm, company sources said, responding to growing investor un..
DefinedCrowd, a Seattle software startup, had a choice to make when it was developing its first product last year — build on the cloud-computing foundation offered by the dominant ..
A lot of startups are pitching ways to put us to sleep lately. In response, investors are perking up and writing big checks. Call it Big Sleep. After decades spent funding technolo..
A new wealth management startup called Prumentum Group is coming to market with a unique value proposition, looking to combine the technology chops of a roboadvisor with ..
Auto1 Group, a nearly five-year-old, Berlin-based used-car marketplace, just announced a huge round — €360 million ($404 million) in debt and equity financing that includ..
, a cybersecurity start-up last valued at $3.5 billion and expected to go public this year, has snagged a new chief technology officer: Chris Bream, a director of product security ..
Bulletin, the startup that describes itself as “WeWork for retail space,” is announcing that it has raised $2.2 million in seed funding. The idea is to give businesses — particular..