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Facebook to build housing in Silicon Valley for first time

July 7, 2017 By David Ingram SAN FRANCISCO (Reuters) – The shortage of housing in California’s Silicon Valley has gotten so severe that Facebook Inc on Friday proposed taking homebuilding into its own hands for the first time with a plan to construct 1,500 units near its headquarters. The growth of Facebook, Alphabet Inc’s Google and other tech companies has strained neighborhoods in the San Francisco Bay area that were not prepared for an influx of tens of thousands of workers during the past decade. Home prices and commute times…

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Wal-Mart to launch investment arm in e-commerce push

March 21, 2017 By Nandita Bose (Reuters) – Wal-Mart Stores Inc, the world’s largest retailer, will launch its first investment arm to expand its e-commerce business in partnership with retail start-ups, venture capitalists and entrepreneurs, the company said on Monday. The plan is being spearheaded by Marc Lore, Wal-Mart’s e-commerce chief, who joined the Bentonville, Arkansas-based company from retail upstart Jet.com, which it acquired for more than $3 billion in August. Since then, Wal-Mart has acquired three small web retailers to add urban and millennial shoppers. The venture, called Store…

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