Google’s lawsuit, Kalshi’s latest valuation, Eventbrite’s exit: Stock Market News | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

Bitcoin is back, I mean it’s back up, and the market rejoiced too on Tuesday, December 2, after opening the month on a bearish note.

The S&P 500 rose 0.3%, a slight but notable gain, driven by gains from Boeing and Intel.
The Nasdaq Composite closed 0.6% higher, with the Dow Jones up 0.4% on Tuesday.
The Russell 2000, which gained earlier in the day, ended up closing 0.2% lower.

After days of a slump leading to a decline in other cryptocurrency stocks, Bitcoin rose 7% today and crossed the $90,000 mark.

Oil prices slipped again, down 1.3%, amid ongoing peace talks between Ukraine and Russia and concerns about oversupply.

Russian President Vladimir Putin and the U.S. delegation of special envoys, including Jared Kushner and Steve Witkoff, met in Moscow today to discuss the details of the peace plans that would finally bring the over three-year-old war between Russia and Ukraine to a close.

Relief might come for Brazil if President Donald Trump’s recent conversation with President Luiz Inacio Lula da Silva, which Trump described as very good, is any signal. Brazil currently faces an additional 40% tariff from the US on certain products like coffee and beef.

Here’s what’s new in the market today

DoorDash, which saw an 11% decline in stock price this last quarter, has been on a gaining spree this past week. It could be new deals with OpenAI to power small businesses, or the expansion of its in-app reservations to New York City.

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Still, more recently, the 5.6% gain on Tuesday, extending its 11% surge over the week, is driven by insider investments. Alfred Lin, managing partner at Sequoia Capital Operations, Dash’s second-largest investor, purchased approximately $100 million worth of DoorDash shares, per an SEC filing.

This insider commitment has bolstered investor confidence in the company’s futuristic vision to build on existing technology and leverage AI for enhanced efficiency.

Google’s legal woes

Alphabet’s Google continues to spend money on lawsuits, whether fighting them, losing them, or defending them. In a series of lawsuits, recall the antitrust lawsuit in which Google was found to be monopolizing the open-web digital advertising market in April 2025.

Or, the class action lawsuit in which California found it guilty of accessing plaintiff’s devices and data, “including app activity data on their mobile devices,” and fined it $425 million for privacy violations in September 2025. The allegation, however, was denied by Google, and it is appealing the verdict.

But today, while everyone is covering Sam Altman’s “Code red” to overpower the increasing threat of Google’s Gemini, the Attorneys General of all 50 States, the District of Columbia, Puerto Rico, and the Virgin Islands “collectively announced $700 million agreement with Google in their lawsuit about Google’s anticompetitive conduct in the Google Play Store.”

Although the nature of the case and the amount were already established, the official announcement was made today, December 2.

$630 million of the total will be restitution to consumers who made purchases between August 2016 and September 2023 from the Google Play Store. Filed in 2021, the case alleged Google unlawfully “monopolized the markets for Android app distribution and in-app payment processing,” harming consumers through its anticompetitive practices.

An additional $70 million will be paid to the states, and the restitution amount will be transferred automatically to eligible consumers. But according to the terms of the agreement, Google will now:

Permit developers to offer cheaper prices for apps and use non-Google billing alternatives for at least five years.
Not enter into contracts that make the Play Store exclusive, a pre-loaded app store, for at least five years.
Allow third-party apps installation outside the Google Play Store for at least seven years.
Revise and reduce warnings when users attempt to download apps from third-party sources and allow automatic updates.

The idea is to give users more control over the apps they wish to install, and give developers a fairer chance to offer apps at lower prices to attract consumers.

Alphabet’s stock was slightly up at 0.3% on Tuesday.

Kalshi expands its Prediction scope

Kalshi is the world’s largest federally regulated exchange, where users can trade on and predict the outcomes of sports, cultural events, weather, elections, and more.

Today, it announced a Series E funding round of $1 billion at an $11 billion valuation. The funding round included participation from some prominent industry names, such as Sequoia, Andreessen Horowitz, Ark Invest, Mertitech Capital, IVP, Anthos Capital, Capital G, and Y Combinator.

It detailed that trading values have surpassed $1 billion every week, up 1,000% from 2024, with users accessing over 3,500 markets for future trading weekly, underscoring the rising demand and popularity of prediction markets.

There is an increasing shift in how people think and use money every day.

Additionally, Kalshi has become CNN’s official prediction markets partner and will integrate its services across CNN’s programming, as announced on Tuesday, December 2. This deal marks a significant milestone for Kalshi, as it combines with a prominent news outlet.

Eventbrite acquired by Bending Spoons

Eventbrite, our everyday event organizer, the one you can rely on to find the best free and paid socializing options, will be acquired in an all-cash transaction by Bending Spoons, valued at $500 million, at $4.25 cash per share.

The company’s stock rose 78% today, closing at $4.43 and reaching a new high following the news of the acquisition.

In the new and revamped Eventbrite, users can look forward to messaging features and a secondary ticket market.

This is Bending Spoons’ third acquisition in recent times. At the end of October, it announced to acquire AOL, a web portal and email provider from Yahoo, backed by a $2.8 billion secured debt. Its $1.38 billion acquisition of video provider Vimeo was also recently closed.

Bending Spoons, an Italian technology company, is also set to offer an IPO as early as next year in the United States, according to Reuters.