Wednesday, July 25th, 2018

Lululemon Appoints a New CEO
Company Press Release

Lululemon announced that it has appointed Calvin McDonald as its new Chief Executive Officer.

McDonald served as President and CEO of Sephora’s Americas business. His role will be effective on August 20th, 2018.

He will replace Laurent Potdevin who left the company earlier this year due to allegations of misconduct.

Ford Launches an Autonomous Vehicles Business
Company Press Release

Ford announced that it has created a new business called Ford Autonomous Vehicles LLC.

The company will focus on all aspects of its self-driving vehicle business operations to accelerate its efforts in the autonomous vehicles space and capitalize on market opportunities.

Ford expects to invest $4 billion in its Autonomous Vehicles efforts through 2023, including its $1 billion investment in Argo AI. Argo AI is the company’s Pittsburgh-based partner for self-driving system development.

General Motors Introduces a New Peer to Peer Service
Company Press Release

Maven, an on-demand car sharing service within General Motors, announced that it’s expanding its car-sharing platform to include a peer-to-peer offering enabling owners to earn money by renting their personal Chevrolet, Buick, GMC or Cadillac car or truck.

The service will be available in beta in Chicago, Detroit and Ann Arbor, Michigan.

Maven operates in the United States, Canada, and Australia.

eBay Teams up with Square to Provide Small Business Financing
Company Press Release

Both companies announced a new partnership that enables US-based eBay sellers with access to funding that can help them grow their small businesses.

According to a company press release, Square Capital has facilitated $2.8 billion to more than 180,000 businesses since 2014. In 2016 it began providing loan offers to businesses outside of the Square ecosystem through its partnerships program.

Facebook Sets up a China-based Subsidiary

Reuters reports that Facebook reportedly plans to create an innovation hub with a focus on helping local startups and developers through its newly formed subsidiary in China.

According to Reuters, a subsidiary filing was reportedly approved on China’s National Enterprise Credit Information Publicity System last week.

The company has launched similar innovation hubs around the globe including, France, Brazil, and Canada.