LVMH and Tiffany & Co. enter acquisition talks

The luxury goods market is on the edge of its seat watching what could turn out to be a massive acquisition. LVMH and Tiffany & Co. have entered preliminary discussions around a possible acquisition. LVMH, the iconic French luxury goods conglomerate owns brands like Louis Vuitton, Christian Dior, and Hennessy among others.

While talks were initially sidelined, LVMH recently increased its bid to nearly $16 billion. The increased valuation brought Tiffany to the table and led to a jump in the company’s share price.

WeWork lays off thousands of its employees

After its IPO plans ended in disaster, WeWork announced plans to lay off around 2,400 employees to reduce the company’s mounting operating losses. WeWork currently employs 14,500 individuals. This round of layoffs translates to 17% of its workforce.

In a statement, the company defended its actions as “necessary to run an efficient organization.”

Big data mining startup Celonis raises $290M in Series C funding

Celonis, an eight-year-old German company focused on big data and process mining solutions for enterprise customers, announced a $290 million Series C funding at a $2.5 billion valuation. The company works with big name firms like Vodafone, Siemens, Cisco, Uber, and L’Oreal.

The round was led by Arena Holdings and was joined by Qualtrics co-founder Ryan Smith, Procore Technologies CEO Tooey Courtemanche, and earlier investors Accel and 83North.