Cheddar afternoon business report for March 8, 2018Posted: Updated:
Warby Parker sees a need for cash. Cheddar first reported that the company filed for a new round of funding for the first time since 2015. According to documents filed by Warby Parker's president, the eyewear company is seeking $75 million and was last valued at $1.2 billion.
There's another major buyout in the insurance industry. Insurance company Cigna will buy pharmacy benefits manager Express Scripts for over $50 billion, plus debt. Cigna says the deal will expand its portfolio. The news follows the CVS purchase of Aetna and Amazon's entrance into the pharmacy space.
Tesla's all-electric semis are hitting the road. CEO Elon Musk shared a photo of two trucks leaving the factory in Nevada to deliver batteries in California. The trip is about 250 miles – half of the 500 miles the trucks can travel on a single charge. The semis won't be in production until next year, but Tesla has received several big orders from companies such as Walmart and UPS.