The singer-songwriter was expected to appear Wednesday morning by videoconference to face the charges in New Jersey.
Although a bunch of automakers chose to sit out 2021, General Motors still saw value in advertising during this year’s Super Bowl. The automaker used the event to promote its electric vehicle aspirations, which include plans to have an all-electric lineup by 2035.
This project will be propelled by a new platform called Ultium and will start with next year’s Cadillac Lyriq and GMC Hummer EV. But you wouldn’t know that from the ad campaign—at least not at first. Instead, we learn that Will Ferrell is really angry with Norway, and he wants to prank the nation of more than five million by sending them all anchovy pizzas.
The cause of this rage? Norway is doing better at EV adoption than the US. Much better, in fact, as 54 percent of all new vehicles sold in the Scandinavian country in 2020 were electric. Here in the US, plug-in vehicles accounted for a mere 2.2 percent of the 14.6 million new cars and trucks sold last year (although in absolute numbers, the US still bought about three times as many EVs as Norway).
Shell’s plan to roll out 500,000 electric charging station in just four years is the latest sign of an EV charging infrastructure boom that has prompted investors to pour cash into the industry and inspired a few companies to become public companies in search of the capital needed to meet demand.
Since the beginning of the year, three companies have been acquired by special purpose acquisition vehicles and are on a path to go public, while a third has raised tens of millions from some of the biggest names in private equity investing for its own path to commercial viability.
The SPAC attack began in September when an electric vehicle charging network ChargePoint struck a deal to merge with special-purpose acquisition company Switchback Energy Acquisition Corporation, with a market valuation of $2.4 billion. The company’s public listing will debut February 16 on the New York Stock Exchange.
In January, EVgo, an owner and operator of electric vehicle charging infrastructure, agreed to merge with the SPAC Climate Change Crisis Real Impact I Acquisition for a valuation of $2.6 billion— a huge win for the company’s privately held owner, the power development and investment company LS Power. LS Power and EVgo management, which today own 100% of the company will be rolling all of its equity into the transaction. Once the transaction closes in the second quarter, LS Power and EVgo will hold a 74% stake in the newly combined company.
One more deal soon followed. Volta Industries agreed to merge this month with Tortoise Acquisition II, a tie-up that would give the charging company named after battery inventor Alessandro Volta a $1.4 billion valuation. The deal sent shares of the SPAC company, trading under the ticker SNPR, rocketing up 31.9% in trading earlier this week to $17.01. The stock is currently trading around $15 per-share.
Not to be outdone, private equity firms are also getting into the game. Riverstone Holdings, one of the biggest names in private equity energy investment, placed its own bet on the charging space with an investment in FreeWire. That company raised $50 million in new round of funding earlier this year.
“The writing is on the wall and the investors have to take the time. There’s been a flight out of the traditional investment opportunities in markets,” said FreeWire chief executive, Arcady Sosinov, in an interview. “There’s been a flight out fo the oil and gas companies and out fo the traditional utilities. You have to look at other opportunities… This is going to be the largest growth opportunity of the next ten years.”
FreeWire deploys its infrastructure with BP currently, but the company’s charging technology can be rolled out to fast food companies, post offices, grocery stores, or anywhere where people go and spend somewhere between 20 minutes and an hour. With the Biden Administration’s plan to boost EV adoption in federal fleets, post offices actually represent another big opportunity for charging networks, Sosinov said.
“One of the reasons we find electrification of mobility so attractive is because it’s not if or how, it’s when,” said Robert Tichio, a partner at Riverstone in charge of the firm’s ESG efforts. “Penetration rates are incredibly low… compare that to Norway or Northern Europe. They have already achieved double digit percentages.”
A recent Super Bowl commercial from GM featuring Will Farrell showed just how far ahead Norway is when it comes to electric vehicle adoption.
“The demands onc capital in the electrification of transport will begin to approach three quarters of a trillion annually,” Tichio said. “The short answer to your question is that the needs for capital now that we have collectively, politically, socially economically come to a consensus in terms of where we’re going and we couldn’t say that 18 months ago is going to be at a tipping point.”
Shell already has electric vehicle charging infrastructure that it has deployed in some markets. Back in 2019 the company acquired the Los Angeles-based company Greenlots, an EV charging developer. And earlier this year Shell made another move into electric vehicle charging with the acquisition of Ubitricity in the UK.
“As our customers’ needs evolve, we will increasingly offer a range of alternative energy sources, supported by digital technologies, to give people choice and the flexibility, wherever they need to go and whatever they drive,” said Mark Gainsborough, Executive Vice President, New Energies for Shell, in a statement at the time of the Greenlots acquisition. “This latest investment in meeting the low-carbon energy needs of US drivers today is part of our wider efforts to make a better tomorrow. It is a step towards making EV charging more accessible and more attractive to utilities, businesses and communities.”
The two-minute spot featured the singer in the rural middle of the country, urging unity from a white Jeep.
“This was the first Super Bowl ever where I had to yell, ‘Be quiet — I’m trying to hear the poem!’” Kimmel said.
The start-up, which was at the center of a recent stock market frenzy, was valued at $6 billion in the new funding round.
Reddit has raised a new funding round, totalling $250 million. This is the company’s Series E round of financing, and it comes hot on the heels of renewed public attention on the site that has dubbed itself ‘the front page of the Internet,’ owing to the role the subreddit r/WallStreetBets played in the recent meteoric rise (and subsequent steep fall) of the value of GameStop stock. Reddit also ran a 5-second Super Bowl ad on Sunday, consisting of. a single static image that looked like a standard post on the network itself.
This is Reddit’s 16th year of operation, and the company has raised around $800 million to date, including a Tencent-led $300 million Series D in February, 2019. Today’s round including financing from “existing and new investors,” Reddit noted in a blog post in which it announced the funding. In the post, Reddit notes that the company felt “now was the right opportunity to make strategic investments in Reddit including video, advertising, consumer products and expanding into international markets.”
It’s unclear how the round came together exactly, but given the network’s time in the spotlight over the past few weeks, culminating in yesterday’s very brief, but also very memorable and high-profile ad, it seems likely it was at least finalized fast in order to help the company make the most of its time in the spotlight. In terms of what kind of specific moves Reddit could make with its new cash on hand, the blog post also namecheck its acquisition late last year of short video sharing platform Dubsmash, and announced plans to double its team over the course of this year with new hires.
Reddit’s long history has also included some significant tumult, and efforts to clean up its act in order to present a better face to advertisers, and to potential new community members. The network still struggles with balancing its commitments to fostering a home for a range of communities with the potential for hate speech and discrimination to take root within some of these, and it was also in the news earlier this year for finally banning controversial subreddit r/donaldtrump following “repeat´d policy violations” surrounding the attempted insurrection a the U.S. Capitol by a mob of domestic terrorists.
Did it feel like a home game for Tampa Bay? Benjamin Hoffman, who covered the game for The Times, shared the view from his seat.
Other companies spent millions on ambitious commercials made for advertising’s biggest day. Reddit’s blip of an ad, made in under a week, connected.
The N.F.L. espoused racial unity and praised health care workers. But its inaction on racial diversity, its stereotypic imagery and its decision to host a potential superspreader event said something different.
Citing legal scholars, a reader debunks claims by Donald Trump that the Senate trial is unconstitutional. Also: Tom Brady, seven-time Super Bowl champion.
Reid told the police he had “two or three drinks” before slamming into a car that carried two small children last week. One is hospitalized with life-threatening injuries.
“Amazing!” Serena Williams said of Tom Brady’s seventh Super Bowl win. Of course, he’s never won a title while pregnant.
Between the puppies, a streaker, Bruce Springsteen, a hologram and the Weeknd’s hall of mirrors, all we can say is “No, no, no. Wow. Wow.”
At least one police officer appeared to get knocked to the ground as a large group of fans shoved each other in the city, a video showed.
The N.F.L. season persisted through challenges wrought by the coronavirus pandemic, political discord and a national reckoning on race to reach a familiar ending.
With help from his team’s fearsome pass rush, Tom Brady reminded Patrick Mahomes that he could still control the N.F.L.’s biggest stage.
The duo set a record for postseason touchdowns, as the tight end who came out of retirement to join Tom Brady in Tampa helped defeat the Kansas City Chiefs.
Parity in the N.F.L. makes it difficult to build dynasties. Even the seven-time Super Bowl winner Tom Brady has won back-to-back titles just once.
In a year shaped by the coronavirus, a pop star with an affection for the grandeur and sheen of the biggest 1980s pop found a way to make a large affair small.
Faced with the challenge of promoting products in a difficult time, some companies referenced the nation’s struggles in their marketing messages, while others went for nostalgia.
The mother of the opposing Super Bowl LV quarterback was a year old when Brady was born. What’s he still doing here?
The Buccaneers receiver has been one of the most electrifying players in the N.F.L., but he is facing accusations of sexual assault and harassment.
The Kansas City Chiefs tight end spent his formative football years playing quarterback. In his mind’s eye, he can both throw the ball and catch it.
Much has been made about the nearly 20-year age difference between the two quarterbacks. But Super Bowl LV will come down to other numbers.
Putting on a Super Bowl halftime show is always a mammoth undertaking. The pandemic introduces many more logistical puzzles.
The likes of Frito-Lay and food delivery services are expecting a busy Sunday, as more viewers stay home rather than gather in large groups.
Shaquil Barrett, Jason Pierre-Paul and Ndamukong Suh found a home with the Buccaneers after being discarded elsewhere. On Sunday, their mission is clear: Get Patrick Mahomes.
For these ticket-holders, the allure of seeing their team in the Super Bowl overrides other considerations: “On my deathbed, this will probably be one of the top five days I remember in my life, you know?”
These dishes will help keep things festive, whether you’re watching the game alone, with a roommate or just family.
“We’ll make the best of it,” Tampa’s mayor said. Plenty of people are preparing to party, with businesses eager for some tourism.
No one has won more Super Bowls than Tom Brady, but in a high-scoring game, Patrick Mahomes has a slight advantage.
No one has won more Super Bowls than Tom Brady, but in a high-scoring game, Patrick Mahomes has a slight advantage.
This time, the field won’t be swarming with fans crowding the stage. In fact, the stage won’t be on the field at all, but in the stands.
Experts offer tips on how to stay safe. For one, don’t plan on shouting or cheering with your friends.
With the whole world watching, the N.F.L. and CBS face the challenge of presenting a uniquely American spectacle in a time of misery.
Statistics from the regular season indicate that the Buccaneers benefited more from officiating calls than the Chiefs did.
Two women will coach the Tampa Bay Buccaneers in this year’s Super Bowl, a milestone in the N.F.L.’s gender diversity efforts. Women in football hope their presence quickly stops being noteworthy.
The year’s biggest TV advertising day will include nods to a difficult time — and Dolly Parton.
Tom Brady rose from obscurity to become a standard-bearing quarterback hero, jousting with many characters along the way. We asked experts in various fields if they could cite similar sagas through history.
Sure, Mahomes has more impressive numbers, a boundless future and the chance on Sunday to win his second Super Bowl. But sometimes, nostalgia beats reason by a touchdown.
In the Super Bowl, Americans need a show of superheroic strength.
Online gambling sites are offering can’t-lose propositions, giving away easy money to attract new customers to a nascent multibillion-dollar industry. These come-ons should reach a peak just ahead of the Super Bowl.
Players from the Tampa Bay Buccaneers and the Kansas City Chiefs are being tested for the coronavirus more often, and just 25,000 fans will attend the game.
You probably won’t be watching with a crowd, but you can still have wings, dip and a sub-style sandwich to eat during the game.
The success of the Buccaneers, Lightning and Rays — pro sports punch lines turned finals contestants — is a run that rivals past glory years in Boston, New York or Los Angeles.
The N.F.L. has tried to move on from the controversy over Colin Kaepernick, but recent events suggest his critique of America’s racial climate has remained relevant.
The Chiefs will try to defend their Super Bowl title against Tom Brady and the Buccaneers — who are playing at home.
At 43, Brady will be playing in his 10th Super Bowl, proving that he can still compete at the highest level after reinventing himself at Tampa Bay.
About 7,500 health care workers who have been vaccinated will be given free tickets, the league said, but it will sell 14,500 tickets to customers who will not be required to get inoculated.