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FILE PHOTO: An Apt F retailer goes wholesale shopping on the Faire platform that connects small brands with small retailers in this picture taken in Austin, U.S., August 2019. Faire/Handout via REUTERS(Reuters) - Online wholesale marketplace Faire said on Thursday it raised $260 million in its latest funding round and is now valued at $7 billion, thanks to the fast growth in e-commerce following the pandemic. Faire helps small retailers connect with small brands, helping them to compete with retail giants like Amazon.com Inc or Walmart Inc, said Faire Chief Executive and co-founder Max Rhodes. Following its success in the U.S. market, Faire expanded into Europe three months ago and is seeing fast growth there, said Rhodes. “We’re still in the single-digit online penetration for the wholesale market,” said Sequoia partner Ravi Gupta.
Persons: Max Rhodes, , Rhodes, “ We’re, Ravi Gupta, Organizations: REUTERS, Reuters, Amazon.com Inc, Walmart Inc, Zealand, Sequoia Capital Locations: Austin , U.S, United States, U.S, Europe
Online wholesale marketplace Faire raises $260 mln, valued at $7 bln
  + stars: | 2021-06-10 | by ( Jane Lee | ) www.reuters.com + 1.00   time to read: +2 min
An Apt F retailer goes wholesale shopping on the Faire platform that connects small brands with small retailers in this picture taken in Austin, U.S., August 2019. Faire/Handout via REUTERSOnline wholesale marketplace Faire said on Thursday it raised $260 million in its latest funding round and is now valued at $7 billion, thanks to the fast growth in e-commerce following the pandemic. Faire helps small retailers connect with small brands, helping them to compete with retail giants like Amazon.com Inc (AMZN.O) or Walmart Inc (WMT.N), said Faire Chief Executive and co-founder Max Rhodes. Following its success in the U.S. market, Faire expanded into Europe three months ago and is seeing fast growth there, said Rhodes. “We're still in the single-digit online penetration for the wholesale market,” said Sequoia partner Ravi Gupta.
Persons: Max Rhodes, , Rhodes, “ We're, Ravi Gupta, , Eric Newcomer Organizations: REUTERS Online, Amazon.com Inc, Walmart Inc, Zealand, Sequoia Capital, Thomson Locations: Austin , U.S, United States, U.S, Europe
An Apt F retailer goes wholesale shopping on the Faire platform that connects small brands with small retailers in this picture taken in Austin, U.S., August 2019. Faire/Handout via REUTERSOnline wholesale marketplace Faire said on Thursday it raised $260 million in its latest funding round and is now valued at $7 billion, thanks to the fast growth in e-commerce following the pandemic. Faire helps small retailers connect with small brands, helping them to compete with retail giants like Amazon.com Inc (AMZN.O) or Walmart Inc (WMT.N), said Faire Chief Executive and co-founder Max Rhodes. Following its success in the U.S. market, Faire expanded into Europe three months ago and is seeing fast growth there, said Rhodes. “We're still in the single-digit online penetration for the wholesale market,” said Sequoia partner Ravi Gupta.
Persons: Max Rhodes, , Rhodes, “ We're, Ravi Gupta, Organizations: REUTERS Online, Amazon.com Inc, Walmart Inc, Zealand, Sequoia Capital, Thomson Locations: Austin , U.S, United States, U.S, Europe
Two leading scientists are urging the UK government to postpone the date for lifting COVID-19 restrictions. The government's plan is for all COVID-19 restrictions to be dropped on June 21. Scientists have warned the UK government that it should abandon its plans to lift all coronavirus restrictions in June, amid rising cases of the variant first found in India. More than 39 million people in the UK have received at least one dose of a COVID-19 vaccine, according to government figures. The UK added another vaccine to its list on Friday when it approved Johnson & Johnson's single-dose coronavirus vaccine, securing 30 million doses.
Persons: Ravi Gupta, Gupta, Adam Finn, ITV's, everyone's, George Eustice, Eustice, Johnson Organizations: BBC Radio, Financial Locations: India, Britain
Are new coronavirus strains cause for concern?
  + stars: | 2020-12-21 | by ( The Associated Press | ) www.nbcnews.com + 0.00   time to read: +5 min
Reports from Britain and South Africa of new coronavirus strains that seem to spread more easily are causing alarm, but virus experts say it’s unclear if that’s the case or whether they pose any concern for vaccines or cause more severe disease. New variants, or strains, of the virus that causes Covid-19 have been seen almost since it was first detected in China nearly a year ago. What's concerning about the England strain? “This particular variant in the U.K., I think, is very unlikely to have escaped the vaccine immunity.”Bedford agreed. But vaccines may need fine-tuned over time as changes accumulate, and changes should be more closely monitored, he wrote.
Persons: Boris Johnson, atrick Vallance, “ I’m, Ravi Gupta, Dr, Ravi Gupta Hiruses, Trevor Bedford, “ We’ve, Gupta, It’s, Will, Scott Gottlieb, , ” Gupta, Joe Biden’s, Vivek Murthy, Moncef Slaoui, ” Bedford, Bedford, Murthy Organizations: European Union, University of Cambridge, Fred Hutchinson Cancer Research Center, Twitter, Health Organization, BBC, U.S . Food, Drug, Press, U.S, Union Locations: Britain, South Africa, China, Canada, England, British, London, Seattle, Sweden, Denmark, U.S, “ State
The UK government plunged millions of people into harsher restrictions this weekend, warning of a mutated coronavirus strain that appears to infect people more easily. Multiple countries also moved quickly to block travel from the UK, expressing concern over the new strain. They also say that it's likely the vaccines proven to work against the virus will still be effective against the new strain. The new variant appears to have developed 23 mutations, UK health authorities said. As the BBC noted, the virus strain now seen in most parts of the world isn't the same as the one that was first detected in Wuhan, China.
Persons: Matt Hancock, Tolga, Boris Johnson, NIKLAS HALLE'N, Hancock, Johnson, Susan Hopkins, It's, Chris Whitty, Erik Volz, Christian Drosten, Jonathan Ball, Muge, hasn't, Alan McNally, Toby Melville, Nick Loman, Wendy Barclay, Andrew Hayward, Patrick Vallance, BioNTech, Andrew Milligan, Jesse Bloom, Ravi Gupta Organizations: Pancras International, Getty, World Health Organization, Reuters, Science, Public Health, Imperial College London, Charité University Hospital, University of Nottingham, BBC, University of Birmingham, Science Media, Genomics UK, WHO, Infectious, University College London, Scientific, Emergencies, Guardian, Pfizer, Fred Hutchinson Cancer Research Center, New York Times, University of Cambridge Locations: England, London, St, Europe, AFP, Netherlands, Denmark, Australia, Kent, Berlin, Wuhan, China, Edinburgh, Scotland, Seattle
Faire, a wholesale marketplace startup backed by Sequoia Capital, wants to help new small businesses open during the pandemic by offering up to $20,000 to stock up on inventory. Faire co-founder and CEO Max Rhodes told us he started the "Open with Faire" program because small businesses often end up in a "death spiral" in their first year. Now valued at $2.5 billion, Faire survived its own version of a "disaster movie," after sales dropped 60% in a one-week period in March. Rhodes had a thriving career as a product manager at Square, working on Square Capital and Square Cash. IPO on the horizonWith $170 million in fresh capital, Faire is entering the new year with big plans.
Persons: Max Rhodes, Jane Estes, Estes, Rhodes, Jack Dorsey Rhodes, Jack Dorsey, Dorsey, There's, Paul Graham, Jessica Livingston, Kirsten Green, Green, Kirsten Green Getty, Faire's, Jeffrey Kolovson, Marcelo Cortes, Daniele Perito, Ravi Gupta, Airbnb Organizations: Sequoia Capital, Business, Yale University, Bain & Co, Capital, Twitter, YC, Forerunner Ventures, Ventures, Sequoia Locations: Georgetown , Texas, Norman , Oklahoma, Mexican, San Francisco, Brunswick , Georgia, Francisco's, U.S, Europe
Opinion | Does Remdesivir Actually Work Against Covid-19?
  + stars: | 2020-11-17 | by ( Ravi Gupta | Reshma Ramachandran | ) www.nytimes.com sentiment -1.00   time to read: +2 min
Some have argued that the approval of Veklury is justified even if it is only mildly effective because there are no other proven therapies for Covid-19. This fails to acknowledge, however, the proven effectiveness of drugs like dexamethasone, a cheap and widely used steroid. Weaker standards are a boon to pharmaceutical companies, but they can also depress the development of truly innovative and effective treatments. granted an authorization to an antibody treatment called bamlanivimab, for use in non-hospitalized patients with Covid-19 who are at the highest risk of developing severe disease. This may have been possible only because Veklury was approved specifically for hospitalized patients.
Persons: , Veklury Locations: Gilead
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