Ozy stops as the problems get worse; Tesla Announces Third Quarter Sales Increase;
Ozy is shutting down less than a week after a New York Times column raised questions about the media organization’s claims to millions of viewers and readers, while highlighting a potential case of securities fraud.
The story sparked canceled issues, an internal investigation, investor concern and high-profile departures from the company.
An emailed statement from Ozy Media’s board of directors on Friday called it a company with many “world-class journalists and seasoned professionals to whom we owe immense gratitude.” He said it was “with the heaviest of heart that we must announce today that we are closing the doors of Ozy.”
The board’s statement did not give the reason for the closure of the Mountain View, Calif., Based company. Ozy did not answer questions about why it is shutting down now or how many employees it has.
The Times report said Ozy COO and co-founder Samir Rao impersonated a YouTube executive during a call with Goldman Sachs as he tried to raise funds with the investment bank.
Tesla announces third quarter sales increase
Tesla says it delivered 241,300 electric vehicles in the third quarter even as it grappled with a global computer chip shortage that plagued the entire auto industry.
The company’s sales in Palo Alto, Calif., From July through September exceeded Wall Street estimates of 227,000 worldwide sales, according to data provider FactSet.
Third-quarter sales were up 72% from 140,000 deliveries made by Tesla for the same period a year ago.
So far this year, Tesla has sold around 627,300 vehicles, already far exceeding last year’s total of 499,550.