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The Brazilian fintech Stark Bank, backed by Jeff Bezos, has seen a significant rise in profits while effectively managing its funding.

What Happened: Stark Bank, a Sao Paulo-based company, has witnessed a three-fold increase in its payment processing business, reaching 155 billion reais ($31 billion) in 2023. This expansion has resulted in a doubling of the firms net income to 71.5 million reais, reported Bloomberg.

Despite this substantial growth, the company has kept its funding from its 2022 Series B round, which included investments from Bezos Expeditions, the family office of Amazon.com Inc AMZN founder Jeff Bezos, and Ribbit Capital, largely untouched.

The firms founder, Rafael Stark, who owns 38% of the company, has no plans to dilute his stake and is instead focused on creating long-term value.

"While a lot of tech companies are trying to stop losing money we're posting high levels of profitability," Stark, 35, said. "There's no need to keep raising money and diluting my stake. It's better to grow and create much more value further down the road."

See Also: NASA, The US Navy And The US Army Are All Partners Of This Cutting-Edge Company Laser Photonics Corporation

Stark Bank, which helps companies process payments, invoices, and receivables, is concentrating on capturing a larger share of the domestic market from major corporate banks. Despite its small market share in Brazil, the firm has shown potential for further growth.

Stark, who legally changed his surname to Stark on all official documents, is considering a potential initial public offering (IPO) around 2029, following a similar growth path to digital bank Nu Holdings. He is currently focused on expanding the companys presence in Brazil and Sao Paulo, where the countrys largest firms are located.

Why It Matters: The success of Stark Bank is a testament to the potential of the Brazilian fintech industry. This development also highlights the strategic investments made by Bezos in the Latin American startup scene.

Earlier this year, Bezos sold over $6 billion in Amazon stock, prompting speculation about his future plans. This move followed his investment in Perplexity, an AI startup aiming to challenge Googles dominance in internet search.

This news comes after Bezos was referred to as the most unusual business leader of our era by Amazon CEO Andy Jassy. Bezos unique approach to business and investment strategies has continued to yield results, as seen in Stark Banks success.

In January, a fund backed by Bezos exceeded $5 million in single-family home acquisitions. This further highlights Bezos successful investment strategies and the positive impact they are having on the companies he supports.

Read Next: Bitcoin, Ethereum, Dogecoin Trade Mixed Amid Soaring Demand For BTC ETFs: Analyst Forecasts King Crypto Surge To $600K By 2025, Matching 300 Ounces Of Gold

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NHL playoff watch: Who will win the Presidents’ Trophy?

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NHL playoff watch: Who will win the Presidents' Trophy?

As we’ve written previously in this space, the winner of the Presidents’ Trophy is by no means guaranteed a Stanley Cup championship. Since the trophy was first awarded in 1985-86, only eight teams have won the regular-season points race and the Cup in the same campaign, the most recent being the Chicago Blackhawks in the lockout-shortened 2012-13 season.

But it’s nevertheless an impressive accomplishment and guarantees home-ice advantage throughout the postseason to the team that claims the crown.

So who’s winning it this season?

Following wins yesterday, the New York Rangers and Dallas Stars continue to lead the pace. The Rangers are at 112 points and 42 regulation wins through 81 games. They’ll close out their regular season on Monday against the Ottawa Senators, and a win of any kind in that game clinches the Presidents’ Trophy for them.

The Stars have 111 points and 40 regulation wins through 81 games. Dallas will play its final game on Wednesday against the St. Louis Blues, and will know prior to opening puck drop whether it can catch New York.

The Carolina Hurricanes, who skate against the Blackhawks on Sunday (6 p.m. ET, NHL Power Play on ESPN+), have 109 points and 43 regulation wins through 80 games. After Sunday’s matchup against one lottery team, their final game Tuesday is also against a team in the bottom four of the league, the Columbus Blue Jackets. The Canes are also hoping for a Rangers loss to the Sens to make this all interesting.

Finally, the Boston Bruins have 109 points and 36 regulation wins following their win over the Pittsburgh Penguins Saturday night. Much like the other clubs, they’re hoping for the Rangers to lose to Ottawa to make things more interesting; the Bruins skate against the Washington Capitals Monday, followed by those very same Senators on Tuesday to close out their regular season. Given their regulation wins deficit to all these other teams, the Bruins will need to win out and hope the other teams cap out at 112 or below.

As we traverse the final stretch of the regular season, it’s time to check in on all the playoff races — along with the teams jockeying for position in the 2024 NHL draft lottery.

Note: Playoff chances are via Stathletes.

Jump ahead:
Current playoff matchups
Sunday’s schedule
Saturday’s scores
Expanded standings
Race for No. 1 pick

Current playoff matchups

Eastern Conference

A1 Boston Bruins vs. WC1 Tampa Bay Lightning
A2 Florida Panthers vs. A3 Toronto Maple Leafs
M1 New York Rangers vs. WC2 Washington Capitals
M2 Carolina Hurricanes vs. M3 New York Islanders

Western Conference

C1 Dallas Stars vs. WC2 Vegas Golden Knights
C2 Winnipeg Jets vs. C3 Colorado Avalanche
P1 Vancouver Canucks vs. WC1 Nashville Predators
P2 Edmonton Oilers vs. P3 Los Angeles Kings


Sunday’s games

Note: All times ET. All games not on TNT or NHL Network are available via NHL Power Play, which is included in an ESPN+ subscription (local blackout restrictions apply).

Seattle Kraken at St. Louis Blues, 1 p.m. (TNT)
Colorado Avalanche at Vegas Golden Knights, 3:30 (TNT)
Carolina Hurricanes at Chicago Blackhawks, 6 p.m.
Arizona Coyotes at Calgary Flames, 8 p.m.


Saturday’s scoreboard

New York Rangers 3, New York Islanders 2 (SO)
Dallas Stars 3, Seattle Kraken 1
Winnipeg Jets 7, Colorado Avalanche 0
Florida Panthers 3, Buffalo Sabres 2 (OT)
Philadelphia Flyers 1, New Jersey Devils 0
Washington Capitals 4, Tampa Bay Lightning 2
Detroit Red Wings 5, Toronto Maple Leafs 4 (OT)
Ottawa Senators 5, Montreal Canadiens 4 (SO)
Boston Bruins 6, Pittsburgh Penguins 4
Nashville Predators 6, Columbus Blue Jackets 4
Vancouver Canucks 3, Edmonton Oilers 1
Los Angeles Kings 3, Anaheim Ducks 1
Minnesota Wild 6, San Jose Sharks 2


Expanded standings

Atlantic Division

Points: 109
Regulation wins: 36
Playoff position: A1
Games left: 2
Points pace: 112
Next game: @ WSH (Monday)
Playoff chances: 100%
Tragic number: N/A

Points: 108
Regulation wins: 41
Playoff position: A2
Games left: 1
Points pace: 109
Next game: vs. TOR (Tuesday)
Playoff chances: 100%
Tragic number: N/A

Points: 102
Regulation wins: 33
Playoff position: A3
Games left: 2
Points pace: 105
Next game: @ FLA (Tuesday)
Playoff chances: 100%
Tragic number: N/A

Points: 96
Regulation wins: 36
Playoff position: WC1
Games left: 2
Points pace: 98
Next game: vs. BUF (Monday)
Playoff chances: 100%
Tragic number: N/A

Points: 87
Regulation wins: 27
Playoff position: N/A
Games left: 2
Points pace: 89
Next game: vs. MTL (Monday)
Playoff chances: 36.9%
Tragic number: 4

Points: 82
Regulation wins: 32
Playoff position: N/A
Games left: 1
Points pace: 83
Next game: @ TB (Monday)
Playoff chances: 0%
Tragic number: E

Points: 76
Regulation wins: 24
Playoff position: N/A
Games left: 2
Points pace: 78
Next game: @ NYR (Monday)
Playoff chances: 0%
Tragic number: E

Points: 74
Regulation wins: 20
Playoff position: N/A
Games left: 2
Points pace: 76
Next game: @ DET (Monday)
Playoff chances: 0%
Tragic number: E


Metropolitan Division

Points: 112
Regulation wins: 42
Playoff position: M1
Games left: 1
Points pace: 113
Next game: vs. OTT (Monday)
Playoff chances: 100%
Tragic number: N/A

Points: 109
Regulation wins: 43
Playoff position: M2
Games left: 2
Points pace: 112
Next game: @ CHI (Sunday)
Playoff chances: 100%
Tragic number: N/A

Points: 90
Regulation wins: 27
Playoff position: M3
Games left: 2
Points pace: 92
Next game: @ NJ (Monday)
Playoff chances: 92.7%
Tragic number: N/A

Points: 87
Regulation wins: 30
Playoff position: WC2
Games left: 2
Points pace: 89
Next game: vs. BOS (Monday)
Playoff chances: 18.7%
Tragic number: N/A

Points: 87
Regulation wins: 30
Playoff position: N/A
Games left: 1
Points pace: 88
Next game: vs. WSH (Tuesday)
Playoff chances: 9.3%
Tragic number: 3

Points: 86
Regulation wins: 31
Playoff position: N/A
Games left: 2
Points pace: 88
Next game: vs. NSH (Monday)
Playoff chances: 42.4%
Tragic number: 3

Points: 81
Regulation wins: 33
Playoff position: N/A
Games left: 1
Points pace: 82
Next game: vs. NYI (Monday)
Playoff chances: 0%
Tragic number: E

Points: 64
Regulation wins: 20
Playoff position: N/A
Games left: 1
Points pace: 65
Next game: vs. CAR (Tuesday)
Playoff chances: 0%
Tragic number: E


Central Division

Points: 111
Regulation wins: 40
Playoff position: C1
Games left: 1
Points pace: 112
Next game: vs. STL (Wednesday)
Playoff chances: 100%
Tragic number: N/A

Points: 106
Regulation wins: 44
Playoff position: C2
Games left: 2
Points pace: 109
Next game: vs. SEA (Tuesday)
Playoff chances: 100%
Tragic number: N/A

Points: 104
Regulation wins: 41
Playoff position: C3
Games left: 2
Points pace: 107
Next game: @ VGK (Sunday)
Playoff chances: 100%
Tragic number: N/A

Points: 99
Regulation wins: 38
Playoff position: WC1
Games left: 1
Points pace: 100
Next game: @ PIT (Monday)
Playoff chances: 100%
Tragic number: N/A

Points: 89
Regulation wins: 30
Playoff position: N/A
Games left: 2
Points pace: 91
Next game: vs. SEA (Sunday)
Playoff chances: 0%
Tragic number: E

Points: 85
Regulation wins: 31
Playoff position: N/A
Games left: 2
Points pace: 87
Next game: @ LA (Monday)
Playoff chances: 0%
Tragic number: E

Points: 75
Regulation wins: 27
Playoff position: N/A
Games left: 2
Points pace: 77
Next game: @ CGY (Sunday)
Playoff chances: 0%
Tragic number: E

Points: 51
Regulation wins: 17
Playoff position: N/A
Games left: 3
Points pace: 53
Next game: vs. CAR (Sunday)
Playoff chances: 0%
Tragic number: E


Pacific Division

Points: 107
Regulation wins: 43
Playoff position: P1
Games left: 2
Points pace: 110
Next game: vs. CGY (Tuesday)
Playoff chances: 100%
Tragic number: N/A

Points: 102
Regulation wins: 38
Playoff position: P2
Games left: 3
Points pace: 106
Next game: vs. SJ (Monday)
Playoff chances: 100%
Tragic number: N/A

Points: 97
Regulation wins: 37
Playoff position: P3
Games left: 2
Points pace: 99
Next game: vs. MIN (Monday)
Playoff chances: 100%
Tragic number: N/A

Points: 94
Regulation wins: 33
Playoff position: WC2
Games left: 3
Points pace: 98
Next game: vs. COL (Sunday)
Playoff chances: 100%
Tragic number: N/A

Points: 79
Regulation wins: 27
Playoff position: N/A
Games left: 3
Points pace: 82
Next game: @ STL (Sunday)
Playoff chances: 0%
Tragic number: E

Points: 77
Regulation wins: 30
Playoff position: N/A
Games left: 3
Points pace: 80
Next game: vs. ARI (Sunday)
Playoff chances: 0%
Tragic number: E

Points: 57
Regulation wins: 20
Playoff position: N/A
Games left: 1
Points pace: 58
Next game: @ VGK (Thursday)
Playoff chances: 0%
Tragic number: E

Points: 47
Regulation wins: 14
Playoff position: N/A
Games left: 2
Points pace: 48
Next game: @ EDM (Monday)
Playoff chances: 0%
Tragic number: E

p — clinched Presidents’ Trophy
y — clinched division
x — clinched playoff berth
e — eliminated from playoff contention


Race for the No. 1 pick

The NHL uses a draft lottery to determine the order of the first round, so the team that finishes in last place is not guaranteed the No. 1 selection. As of 2021, a team can move up a maximum of 10 spots if it wins the lottery, so only 11 teams are eligible for the draw for the No. 1 pick. Full details on the process can be found here. Sitting No. 1 on the draft board for this summer is Macklin Celebrini, a freshman at Boston University.

Points: 47
Regulation wins: 14

Points: 51
Regulation wins: 17

Points: 57
Regulation wins: 20

Points: 64
Regulation wins: 20

Points: 74
Regulation wins: 20

Points: 75
Regulation wins: 27

Points: 76
Regulation wins: 24

Points: 77
Regulation wins: 30

Points: 79
Regulation wins: 27

Points: 81
Regulation wins: 33

Points: 82
Regulation wins: 32

Points: 85
Regulation wins: 31

Points: 86
Regulation wins: 31

Points: 87
Regulation wins: 27

Points: 87
Regulation wins: 30

Points: 89
Regulation wins: 30

* The Penguins’ first-round pick was traded to the Sharks as part of the Erik Karlsson trade. However, it is top-10 protected.

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Frozen Four: Denver blanks Boston College for 10th national title

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Frozen Four: Denver blanks Boston College for 10th national title

After not winning a game when scoring fewer than three goals all season, Denver did it four games in a row en route to its record 10th NCAA men’s hockey national championship.

The Pioneers shut down Boston College, the No. 1 overall seed, 2-0 in the title game Saturday night at St. Paul, Minnesota.

Goalie Matt Davis had 34 saves in handing the Eagles their first shutout of the season. Davis finished the tournament with 138 saves on 141 shots (.979 save percentage) and a 0.85 goals-against average.

Jared Wright got the Pioneers on the board at 9:42 of the second period and Denver made it 2-0 just more than five minutes later when Rieger Lorenz converted a beautiful feed from freshman defenseman Zeev Buium.

Denver won its second national title in three years and its 10th overall, the most of all time. The Frozen Four teams — Denver, BC, Boston University and Michigan — have won a combined 29 national titles, with Denver’s 10 the most all time. Michigan has won nine titles, with Hockey East rivals BC and BU winning five each. BC’s last title came in 2012, BU’s in 2009 and Michigan’s in 1998.

Every game of the NCAA men’s hockey tournament, including the Frozen Four and championship game, will be available on ESPN+. Subscribe to watch!

Frozen Four schedule

All times Eastern

at Xcel Energy Center, St. Paul, Minnesota

play

0:25

Denver’s Rieger Lorenz rips slap shot for nice goal

Rieger Lorenz rips a slap shot to the upper right corner to give Denver a 2-0 lead in the NCAA Frozen Four Championship vs. Boston College.

National semifinals

Denver 2, Boston University 1 (OT)

Boston College 4, Michigan 0

National championship game
Denver 2, BC 0

play

1:08

Tristan Broz sends Denver to final with OT winner in Frozen Four thriller

Tristan Broz takes it himself for an overtime goal to defeat Boston University and send Denver to the national championship game.

Regionals recap

Springfield (Massachusetts) Regional

Semifinals

Denver 2, UMass 1 (2OT)
Cornell 3, Maine 1

Final

Denver 2, Cornell 1

Denver wins Springfield Regional


Sioux Falls (South Dakota) Regional

Semifinals

Boston University 6, RIT 3
Minnesota 3, Omaha 2

Final

Boston University 6, Minnesota 3

Boston University wins Sioux Falls Regional


Providence (Rhode Island) Regional

Semifinals

Boston College 6, Michigan Tech 1
Quinnipiac 3, Wisconsin 2 (OT)

Final

Boston College 5, Quinnipiac 4 (OT)

Boston College wins Providence Regional


Maryland Heights (Missouri) Regional

Semifinals

Michigan State 5, Western Michigan 4 (OT)
Michigan 4, North Dakota 3

Final

Michigan 5, Michigan State 2

Michigan wins Maryland Heights Regional

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Former JD Sports chief Cowgill snaps up Applied Nutrition stake

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Former JD Sports chief Cowgill snaps up Applied Nutrition stake

The former JD Sports Fashion boss who presided over its soaring stock market valuation is taking a stake in Applied Nutrition, the fast-growing sports supplement maker, as it steps up preparations for a bumper flotation.

Sky News has learnt that Peter Cowgill, who left the high street giant just under two years ago, is acquiring a multimillion pound shareholding in Applied Nutrition in a personal capacity.

Sources said the purchase would be announced by the company on Monday.

Mr Cowgill knows the Liverpool-based business well, having orchestrated the acquisition of a roughly 30% stake in it during his tenure at JD Sports.

Speaking to Sky News on Sunday, Mr Cowgill said: “Having been instrumental in executing the investment by JD into Applied Nutrition in 2021, I have been delighted by the growth and profitable development of the business.

“I have always been really impressed by the management team and am excited to make a material personal investment into the company.

“I remain confident in its continued growth and success in a rapidly expanding marketplace.”

Mr Cowgill previously sat on the board of Applied Nutrition as a non-executive, but stepped down when he left JD Sports in 2022.

Sky News revealed earlier this year that Applied Nutrition had engaged bankers at Deutsche Numis to prepare the company for a public listing of its shares.

City sources said the company would begin initial meetings with institutional investors this week to familiarise them with it.

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It has also appointed Andy Bell, founder of the London-listed investment platform AJ Bell, as its chairman, further bolstering its credentials for an initial public offering (IPO).

Founded by Thomas Ryder, Applied Nutrition formulates and makes premium nutrition supplements for professional athletes and gym enthusiasts.

It is the official nutrition partner of a range of English football clubs, including Premier League side Fulham, and the Scottish Premiership side Glasgow Rangers.

The company, which sells its products in over 60 countries, also has partnerships with professional boxers, MMA stars and in sports including basketball, cycling and rugby league.

Applied Nutrition’s largest brands include ABE – All Black Everything – which is a pre-workout range now stocked by Walmart, the world’s biggest physical retailer and former owner of Asda.

Other products in its portfolio include BodyFuel, a hydration drink.

Employing more than 200 people, Applied Nutrition has seen rapid growth in recent years, and is heading towards a £100m sales milestone during the current financial year.

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A significant chunk of that growth is expected to come from the US, where it has established a subsidiary in Texas.

Accounts for the year to the end of July last year disclosed a 74% rise in turnover to £61.2m, with earnings before interest, tax, depreciation and amortisation rising by 80% to £18.1m.

Mr Ryder and Steven Granite, the company’s chief operating officer, are also big shareholders in Applied Nutrition.

A successful listing for the company, which could take place as early as this year, would represent a boost to the London Stock Exchange’s efforts to attract fast-growing companies to float.

Decisions by a growing number of companies to shift their listings to the US – with Paddy Power-owner Flutter Entertainment becoming the latest example – have cast a pall over the City.

Last year saw the number of companies going public in London halving, with proceeds raised from initial public offerings (IPOs) falling by 40% year-on-year.

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