TechCrunch Summary (2023-05-18 04PM)

Source: Bird stock dips 11% on news of reverse stock split

Summary
Bird has confirmed it will carry out a reverse stock split after its shares hit an all-time low of $0.115 in trading last week. The move is designed to get the company back into compliance with regulators’ standards, as it previously received a delisting notice from the New York Stock Exchange.

Fact

📉 Bird’s share price fell 10.8% following the announcement of its reverse stock split after-hours.

👀 Poor Q1 earnings showed Bird recorded a decrease in both revenue and ridership numbers.

💰 Despite cost-cutting measures, Bird has been unable to bring its stock price back into compliance territory.

🏢 There were about 286.8 million shares of Class A common stock and 34.5 million shares of Class X common stock before the reverse stock split.

Source: Big sauce wants your condiment data

Summary
Kraft Heinz’s latest technology, Heinz Remix, is a touch-screen dispenser that offers customers personalized sauce combinations from its sauce base (ketchup, ranch, 57 steak sauce, and BBQ). The Machine also allows Heinz to collect “real-time” data on consumer trends and flavor preferences.

Fact

🍅 Heinz Remix offers 200 potential sauce combinations to customers at its 2023 launch at Chicago’s National Restaurant Association Show.

📊 Heinz Remix enables Kraft Heinz to gather data on consumer trends and preferences, according to Alan Kleinerman, vice president of DISRUPTION.

🌶️ The enhancers (jalapeño, smoky chipotle, buffalo, and mango) can each be customized via three “intensity levels”(low, medium, and high).

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