Fashion tech startup raised funding round entirely over Zoom during Covid - Tech Insider

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Fashion tech startup raised funding round entirely over Zoom during Covid - Tech InsiderFashion tech startup raised funding round entirely over Zoom during Covid - Tech InsiderPosted: 26 May 2020 03:30 AM PDT E-commerce platform Blackcart is set to launch later this month having raised $2 million in venture funding, solely over Zoom, during the coronavirus pandemic. The try-before-you-buy fashion startup has fast-tracked its launch process with Covid-19 closing physical clothes stores across North America."We were going to keep the platform in beta for a few more months, but then Covid came along," Blackcart founder and CEO Donny Ouyang told Business Insider in an interview. "We messaged all potential investors to fast-track the fundraising process to launch, it was five weeks of back and forth, 100s of emails and five or six meetings every day." Click here for more BI Prime stories.E-commerce platform Blackcart is set to launch later this month having raised $2 mil…

‘Betrayed’: Michigan business owner who voted for Trump threatens factory move to Mexico - AlterNet

A Michigan businessman who freely admits he voted for Donald Trump is considering moving his factory production south of the border because of the devastating impact that the president’s tariffs have had on his business.

According to a report in the New York Times, Pat LeBlanc, chairman of EBW Electronics based in Michigan, complained that the tariffs that resulted from the president’s trade wars will cut his profits in half and that he may have to move production to Mexico.

“It’s killing us,” the Republican LeBlanc admitted. “I just feel so betrayed. If we fail because the company is being harmed by the government, that just makes me sick.”

The reports states that raw materials have undergone drastic price increases due to the tariffs, meaning consumers will have to pay more or manufacturers will have to cut costs.

“It’s a tax that comes right off the bottom line,” said EBW’s president, Cory Steeby. “It totally incentivizes you to move out of the United States and build either in Canada or Mexico. These are active conversations right now.”

The Times goes on to report that the tariffs have hit other businesses in the industrial state, with another Michigan businessman also complaining about being hit, but that he will attempt to stick it out.

“Even though it’s hurting me, I hope we have the guts to stick it out,” Tom Sligh, president of cabinet-maker Billco Products, told the Times.



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