I am Lucinda. You may already know me.
I have been making secret appearances in the IPO section of this newsletter since 2017, although I've kept popping up in the meerkat style to write the essay whenever Polina was on the go.
I hadn't expected 210% to ever write a term sheet when I joined Fortune four years ago as a financial writer for highly regulated public companies. But here I am, just in time for startups to face a potentially global economic collapse. Buckle up, term sheet reader – I'll do the same.
A programming note: The term sheet will continue to arrive in your inbox every weekday morning. I will continue to report on the big news of the day in dealmaking and publish a list of the most important VC deals, private equity Deals, IPOs, and more (keep scrolling for today's list).
We will no longer have personal contact shortly
my honor to adopt the term sheet in the middle of a global pandemic – but I
want to hear from you what do you want to read from me? What are you
Hear I should know? And how does your company deal with it?
Let's zoom. Let's send an email Let's go on-nomi.
But enough housekeeping. Continue to the news.
bargain: AOL purchased MovieFone – the service you called earlier
Buy tickets – 1999 for $ 388 million. Last week, Chapter 7 bankruptcy
Submissions from Helios & Matheson, the parent company of MovieFone, show that the company has been sold
for … just over a million dollars.
MovieFone tried early on to focus on online sales, but lost to Fandango.com, theater websites, and plain old Google. AOL later tried to reposition the entire company as a broader entertainment media website … but it turned out that space also has a fair amount of competition. Helios & Matheson then acquired MovieFone in 2018 for around $ 1 million in cash, excluding shares that are now no longer worth – and processed them to a single employee. It is not known who bought MovieFone exactly last week.
This one Twitter thread: If the medical deficiency related to the coronavirus is not yet real enough for you, I would like to refer you to a Twitter thread of a member of the startup community. Bradley Digit, product designer at Acorns, shared his harrowing experience of trying to fight in the hospital while fighting COVID-19 last week. A section: