Today has been a roller-coaster for Kiwi businesses tied to Silicon Valley Bank.

RocketLab, Comvita, Xero, and ikeGPS were among the businesses who were due to lose money from the collapse until US Treasury stepped in to guarantee all deposits.

Glenn Milnes, CEO of ikeGPS was among the many business owners surprised by the sudden collapse of  Silicon Valley Bank.

Glenn Milnes says ikeGPS was diversified in where they held their money, but it was concerning to have a percentage of their deposits on the line.

LISTEN ABOVE

Today has been a roller-coaster for Kiwi businesses tied to Silicon Valley Bank.
RocketLab, Comvita, Xero, and ikeGPS were among the businesses who were due to lose money from the collapse until US Treasury stepped in to guarantee all deposits.
Glenn Milnes, CEO of ikeGPS was among the many business owners surprised by the sudden collapse of  Silicon Valley Bank.
Glenn Milnes says ikeGPS was diversified in where they held their money, but it was concerning to have a percentage of their deposits on the line.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.