Shares of Verizon Communications Inc. (NYSE:VZ) ended Wednesday session in green amid volatile trading. The shares closed up +0.04 points or 0.08% at $51.49 with 11.94 million shares getting traded. Post opening the session at $51.59, the shares hit an intraday low of $51.30 and an intraday high of $51.86 and the price vacillated in this range throughout the day. The company has a market cap of $205.42 billion and the numbers of outstanding shares have been calculated to be 4.08 billion shares.
On September 14, 2016 Verizon Communications Inc. (VZ) and Hearst announced they will bring together Complex — one of the largest millennial digital media brands — with recently-launched digital video networks RatedRed.com and Seriously.TV under the new banner of Complex Networks.
Rich Antoniello, formerly CEO of Complex, will become CEO of Complex Networks. Neeraj Khemlani, president of Hearst Entertainment & Syndication, and Brian Angiolet, senior vice president of Verizon’s consumer product portfolio, will take on the additional roles of co-chairmen of Complex Networks.
Complex was co-founded by Antoniello, and fashion and cultural entrepreneur Marc Ecko, in 2002. It has a long history of creating exhilarating content focused on American pop culture — from music, entertainment and sports to video games, fashion and food — for voracious Gen Z and millennial consumers, engaging and mobilizing an audience of over 52 million UVs per month (comScore).
With RatedRed.com, geared at heartland millennials, and Seriously.TV, a tongue-in-cheek comedic take on of-the-moment news, Complex Networks is building an influential collection of brands, through best-in-class video and social content.
“Our partners at Verizon and Hearst respected what we have built with Complex and are now entrusting us with this immense opportunity to bring all of these brands together to build the biggest and best collection of vertical voices of tomorrow,” Antoniello said. “By combining the resources and assets of our parent companies — with unparalleled offerings in mobile ad and video technology, as well as premium content production — with the differentiation and growth of RatedRed, Seriously.TV and Complex, you’re looking at a set of digital video networks that will continue to grow production, distribution, and monetization of must watch programming for an audience that is as massive as it is engaged.”
Shares of Yahoo! Inc. (NASDAQ:YHOO) ended Wednesday session in green amid volatile trading. The shares closed up +0.42 points or 0.98% at $43.46 with 11.63 million shares getting traded. Post opening the session at $42.91, the shares hit an intraday low of $42.86 and an intraday high of $43.62 and the price vacillated in this range throughout the day. The company has a market cap of $40.96 billion and the numbers of outstanding shares have been calculated to be 951.78 million shares.
On Sep 9, 2016 Munchery, the leader in high-quality meal delivery, welcomes Ron Burkle and Jeff Housenbold to its board of directors. Burkle will also lead the board as chairman. The new additions further strengthen Munchery’s expertise across the entire food supply chain and e-commerce verticals at the board level as the company looks to build on the recent expansion of its Ready-to-Eat and Ready-to-Cook meal offerings across the country.
Burkle is widely recognized as one of the preeminent investors in retail, manufacturing, distribution and hospitality. Housenbold brings extensive experience leading hyper-growth companies, building premium lifestyle brands and driving profitable growth at multinational e-commerce companies including eBay and, most recently, as president and CEO of Shutterfly.
“Ron’s deep knowledge of the food supply chain and Jeff’s success in seamlessly merging online and offline retail experiences will be invaluable to Munchery as we continue to scale food nationwide,” said Tri Tran, Munchery co-founder and CEO. “We’ll draw on their insights to keep improving our online and offline customer experience and growing efficiently as we enter new markets.”
Burkle is the founder of The Yucaipa Companies, an investment firm focused on companies in distribution, logistics, food, retail and hospitality. He has invested widely in the grocery industry with stakes in Whole Foods, Wild Oats, Golden State Foods, Dominick’s, Fred Meyer, Ralphs and Food4Less. He has also served on the board of numerous organizations including Yahoo! ( NASDAQ : YHOO ), KB Home ( NYSE : KBH ) and the J. Paul Getty Trust, and as the Co-Chairman of the Burkle Center for International Relations at UCLA.
“As the only company in its space with a model built to scale both prepared food and meal kits alike, Munchery is uniquely positioned to transform the way we eat and shop for food,” said Burkle. “The company’s socially-conscious mission to bring great food to everyone that’s accessible to all lifestyles, resonates universally, and I’m excited to be part of its next phase of growth.”