Gap Inc. Looks to Spin-off Old Navy as a Separate Company
The clothing retailer announced that it plans to separate into two publicly traded companies.
Old Navy, its family-focused apparel brand will operate independently, and another new company, which has yet to be named will consist of the “Gap brand, Athleta, Banana Republic, Intermix and Hill City” brands.
According to a company press release, the move looks to help each company “maximize focus and flexibility, align investments and incentives to meet its unique business needs and optimize its cost structure to deliver profitable growth.”
Daimler and BMW Group Partner on Automated Driving Technology
Both companies announced that they’re working together on an initiative that looks to focus on next-generation technologies for driver-assisted systems, automated driving on highways and new parking features.
According to a company press release, each company views its “partnership as a long-term, strategic cooperation and aim to make next-level technologies widely available by the middle of the coming decade.”
Workplace by Facebook Reaches 2 Million Paid Users within 2 Years
Company Blog Post
The workplace communications platform which helps teams “communicate, collaborate and connect across desktop and mobile” announced that it now serves over 2 million customers every month.
According to a company blog post, Workplace, which competes against Slack and Microsoft Teams, now serves “more than 150 companies who have more than 10,000 users” on its platform.