🍴 The Bulletin #80: Consumer Retail and AI - Venture for All + Meet Insight Partners 🍁
In this week's bulletin - OpenAI's New $500 Billion Valuation + New Payment Checkout, Starbucks Plan, Nike's Comeback, and Meet Insight Partners! 😱
Hey, welcome back to the VWV Bulletin! We hope you’re crushing these midterms! This week, we’re covering the latest news and moves in VC, tech, and consumer retail. Let’s get into it! 🏃➡️
📌 For this semester, keep up with our content if you’re interested in:
Demystifying & breaking into VC
Finding opportunities in the start-up world
Keeping up with VC investment news at Brown & beyond (pro tip: this is essential to breaking in and finding opportunities)
Enjoy the Bulletin!
📈 OpenAI’s New $500B Valuation and New Payment Checkout
In recent days, OpenAI has become the world’s most valuable private company, surpassing Elon Musk’s SpaceX. Just last October, OpenAI was valued at $157 billion; a $500 billion valuation gives it a 218% YoY gain. $500 billion is followed by current and former employees agreeing to sell $6.6 billion worth of shares in the secondaries market to companies such as Thrive Capital, T. Rowe Price, and SoftBank.
OpenAI only seems to grow. With investors such as Microsoft and Nvidia pledging $100+ million into the startup in the coming years, OpenAI has the opportunity to build some super cool things, such as AI-powered shopping with Shopify and Etsy.
Just last week, OpenAI announced its partnership with Etsy and Shopify—Instant Checkout. This new feature is a game-changer for countless businesses on Shopify and Etsy. In this era, consumers are utilizing ChatGPT even for shopping. In Instant Checkout, sales made on Etsy and Shopify through ChatGPT will have merchants pay a completed-transaction fee to OpenAI. These fees are much-needed as OpenAI is not yet profitable.
There have also been troubles with the new platform in its early days, mentioned in The Modern Retail Podcast’s latest episode on October 4th. The checkout system had internal difficulties and at one point did not allow purchases to go through. This will surely be an easy fix with OpenAI’s army of developers.
Expected companies to join Instant Checkout are Skims, Vuori, Glossier, and more. Instant Checkout is expected to bring in a new sales channel for businesses, increase conversion rates, and improve efficiency. The exact fee merchants are expected to pay is not yet publicized.
☕️ Starbucks’ Detour to Success — Project Bloom
Recently, Starbucks has caught every eye in the hospitality industry with its Project Bloom. This initiative has even closed our beloved Starbucks on Thayer Street. 🥹
Project Bloom took months to complete, intending to increase the profitability and performance of outlets. In the rollout, hundreds of locations were closed, mostly those that were underperforming, and thousands of employees were laid off.
“The reality is the business has not performed and we needed to recognize that aspect,” a statement made by Starbucks CEO, Brian Niccol.
Starbucks had hundreds of stores with declining SSS for six consecutive quarters. This is due to more than Graham Stephan’s discouragement on buying coffee: rising costs, competitors, and leadership are among the biggest problems at the forefront.
Brian Niccol has assumed the role of Starbucks’ CEO for a little over a year now. His attempt to turn Starbucks around follows his six-year tenure with Chipotle, where he successfully transformed the company. From his first to last year at Chipotle, Niccol doubled the annual revenue, almost tripled Chipotle’s stock price, and modernized the restaurant chain with technology. This success also came with the controversial skimping on portions and more.
👟 Nike’s Comeback vs. Tariffs & Tailwinds
Before the Trump administration’s Liberation Day, Nike already struggled to maintain its lead in the sportswear industry. Nike has released multiple poor earnings reports in the past year, and has taken a toll on its bottom line due to the recent tariffs. The company now expects to add $1.5 billion in tariffs in 2025, compared to the previous $1 billion.
Releasing its most recent earnings report on Tuesday, September 30, 2025, the company witnessed its first revenue beat following three consecutive misses. Nike’s share price also rose 4% in after-hours trading after the report.
It will be interesting to follow Nike as it plans to take its competitors head-on. In recent years, companies such as On and Hoka have gained a formidable market share in running wear. In China, Nike’s third-largest market, Li-Ning and Anta have also taken a percentage of consumers. Sales in China falling for five straight quarters prompted Nike to send LeBron James, the GOAT, and Ja Morant on their respective tours to gain consumer attraction.
A couple of weeks ago, in late September, Nike also released NikeSkims, its collaboration with Kim Kardashian. This new launch will compete with Lululemon, another young brand that has intensely fought for market share with Nike, especially in the women’s wear segment.
“Our dream was to work with Nike: Their legacy, innovation, and athlete insights—it was the perfect thing to mix with Skims, and our dedication to the female form,” said Kim Kardashian, Skims’ founder, to Vogue.
Perhaps these new initiatives and projects will propel Nike to be crowned the sportswear industry’s icon and leader once again.
🍨 A Few Other Updates!
Froneri, the parent company of brands such as Oreos, Häagen-Dazs, and Smarties, received $1.6 billion in funding from the Abu Dhabi Investment Authority and Goldman Sachs, bringing its valuation to $17.6 billion
Petpooja, a restaurant POS system to simplify restaurant operations, raised a $15.4 million Series-C round, with a new valuation of $103.1 million
The government shutdown from last week is expected to continue into next week, as the Senate votes fail again
🤝 Upcoming: Meet Insight Partners at Brown
Insight Partners is visiting campus!
Are you interested in technology, venture capital & private equity, or the world of investing? Join an upcoming event to learn more about the industry, how Insight differentiates itself from other top venture capital & private equity firms, and our recruiting process for 2027 Campus Programs. We welcome students from all backgrounds & majors who are ready to learn and challenge themselves. See below for registration details.
WHEN:
Wednesday, October 22nd, 6:00 to 7:30 PM ET — Intro to Venture Capital & Private Equity @ 85 Waterman Room 130
Thursday, October 23rd, 10:00 AM to 12:00 PM ET— Coffee Chats @ TBD
➡️ RSVP Here!
🆙 We’re Updating Our Website
We love our website, and want to make sure it is accurate and up-to-date. Please let us know through this form if you are a part of the VWV team (Investment Committee, Advisors, Alumni) and have changes you wish to make to your personal profile.
That’s it for this week, feel free to email me eason_zhang@brown.edu with any thoughts or inquiries! 💌
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