BOND closes its $2 billion round

An investment fund led by a Jay County native has closed its second fund.

BOND Capital closed out the fund with $2 billion in capital commitments, Yahoo! Finance reported this week.

The firm, which includes Jay County High School graduate Mary Meeker as a general partner, took a step up from its 2019 debut fund. That round came in at $1.25 billion.

Led mostly by veterans of Kleiner Perkins Digital Growth Fund, including Meeker, BOND has since expanded its roster. Yahoo! Finance reports that the additions include Jay Simons, the former president of Atlassian who now leads BOND’s global enterprise practice.

One of the firm’s major investments is in Byju’s, which is based in India and is one of the world’s largest education technology companies. Others include London-based online bank Revolut and Australia-based design platform Canva.



Nurse retires

Theresa Bradtmiller will retire later this month as Adams Memorial Hospital’s chief nursing officer.

Bradtmiller has served in the role for five years. She announced her retirement at the hospital’s board of trustees meeting last month, the Decatur Daily Democrat reported.



I&M donates

Indiana Michigan Power and American Electric Power this week announced that it has donated more than $4 million to support non-profits and other initiatives in Indiana and Michigan.

The list of contributions included being the presenting sponsor of Meridian Health Service’s Holiday’s at the Gresham, a physically distanced drive-thru light display that raised funds for their Child Advocacy Center, and a partnership with Ivy Tech, the NAACP and Forward Vision for scholarships to allow minority students to complete their degrees.

“Indiana Michigan Power, along with the AEP Foundation, is proud to have donated more than $4 million in 2020 to improve the lives of our customers and communities we serve in Indiana and Michigan,” said Toby Thomas, I&M president and chief operating officer.



Delivery changes

Walmart and Walgreens have each announced recent changes to their delivery services.

Walgreens has launched same-day delivery through Instacart to residents in Illinois. It plans to roll out the service nationwide in the next few weeks.

“Convenience is at the core of what we do and Walgreens is thrilled to be partnering with Instacart to bring customers a simple and trusted same-day delivery option for the products they need right to their door,” said Stefanie Kruse, Walgreens vice president of digital commerce and omnichannel, in a press release.

Walmart has dropped its $35 minimum order requirement for its Express delivery. The option is now available for any order, though there is a $10 charge.

“Customers told us sometimes the items they needed in a hurry didn’t meet the minimum, so we’re removing it, making it even easier for customers to get what they need when they need it,” said Walmart senior vice president of customer product Tom Ward in a press release.



Yum buys AI

Yum Brands on Tuesday announced that it has purchased artificial intelligence firm Kvantum.

Yum, which owns Taco Bell and Pizza Hut, will utilize the Kvantum in an effort to optimize its marking spending, CNBC reported. Yum has already worked with Kvantum in some of its international markets.

“Kvantum is an innovator in data analytics and marketing optimization and has a proven track record of delivering significant value to several of our international markets by enabling data-driven marketing decisions to increase sales and better leverage media budgets,” Yum chief digital and technology officer Clay Johnson said in a statement.



Earnings announced

Dollar Tree on Wednesday announced that its consolidated net sales for the fourth quarter of 2020 were $6.77 billion, up 7.2% from the previous year.

The company, which also owns Family Dollar, saw its gross profit for the quarter increase by 9.8% from 2019. Net income for the fourth quarter was $502.8 million.

For the year, consolidated net sales were $25.51 billion, which was up 8% from 2019. Net income was $1.34 billion.