Selina Tobaccowala was working at SurveyMonkey when her mentor and good friend, CEO Dave Goldberg, passed away. His sudden death put her life in perspective. Tobaccowala herself was working endless hours and leaving little time for her health. Now, the entrepreneur has launched Gixo.
Tobaccowala joins Cheddar to explain her new app. The fitness platform effectively turns a user's smartphone into a mobile gym. Gixo offers 180 live fitness classes, and costs $24.99 a month for the unlimited option. Tobaccowala could see that U.S. consumers, and millennials in particular, are interested in interactive, experiential workouts. Tobaccowala and her co-founder, Al Lieb, wanted to create an option for that consumer that didn't cost as much as a traditional gym membership or a boutique fitness class.
Gixo classes are primarily conducted with audio, and users can sync their wearables to the app. Because the classes are live, coaches can give feedback to the user after the class.
U.S. markets opened sharply lower on Friday on hotter-than-expected inflation data. The May CPI showed an 8.6% jump in consumer prices year-over-year, higher the expected 8.3%. Mark Howard, Senior Multi-Asset Specialist at BNP Paribas joined Cheddar's Opening Bell to discuss.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
The electric vehicle maker filed a proposal for a three-for-one stock split, increasing the accessibility of shares for investors for a stock trading at around $700 a share. The move comes not long after tech giant Amazon announced a 20-for-one split. The number of authorized shares rises from two billion to six billion. It was also revealed that board member Larry Ellison does not intend to stand for reelection as it pertains to Tesla.
President Biden proposed a new rule that would add 500,000 chargers for electric vehicles nationwide. The proposal comes amid the rapid shift to EVs with dozens of automakers announcing plans for all-electric fleets within the next decade. But with the new surge will the U.S. have the proper infrastructure to keep up? Scott Painter, founder and CEO of Autonomy.com joined Cheddar's Opening Bell to discuss. "I really think the idea of standardization is a big deal. Standardization certainly makes it much better for everybody to be able to get a charge when they need one," he said.
