Nike Launches a Sneaker Subscription Service
The sportswear company announced that it’s launching Nike Adventure Club, a footwear subscription service for children.
As part of the service, kids will have the opportunity to select between 100 different Nike and Converse sneakers.
The service is targeted to kids between the ages of 2 to 10 years old with plans ranging from 4 pairs a year to 12 pairs a year.
Verizon Announces the Sale of Tumblr
The telecommunications company announced that it plans to sell the social media network to Automattic, the parent company of WordPress.
Tumblr is home to over 475 million blogs.
Terms of the deal were not disclosed.
Wheels Up Raises $128 Million
The membership-based private aviation company announced that it has completed its Class D Equity capital raise which now values it at over $1.1 billion.
The new funds are expected to help with potential acquisitions, a focus on sales and marketing, and plans to scale its digital platforms.