The Washington flyaround
• Businesses are lobbying to neuter or kill the corporate alternative minimum tax provision that remains in the Senate’s tax bill. (WSJ)
• Republicans are working on passing a two-week stopgap measure to avoid a government shutdown. (NYT)
• The Supreme Court allowed the third version of the Trump administration’s travel ban to take effect while legal challenges against the ban continued. (NYT)
• Repealing the individual insurance mandate is more unpopular among the public than initial opinion polling had suggested. (Axios)
Lyft’s latest fundraising round just got bigger.
The ride-hailing company expanded the cap for its latest infusion of investor capital to $1.5 billion, up from $1 billion.
Who’s in: Alphabet’s CapitalG investment arm is still leading the round. Other investors include two new firms — Fidelity, the mutual fund giant, and the Ontario Teachers’ Pension Plan — and existing backers AllianceBernstein, Baillie Gifford, KKR, Janus Henderson Investors and Rakuten.
Worth noting: The round isn’t closed yet, but is near completion.
— Michael J. de la Merced
When a popular newsletter company is exploring a sale …
It’s a big deal. TheSkimm, the daily newsletter producer that’s popular among young women, is weighing a sale of itself after receiving takeover interest, the WSJ reported today.
TheSkimm, which counts several of my friends and celebrities like Oprah Winfrey as aficionados — sorry, “Skimm’bassadors” — has won fans for its breezy and sometimes snarky style and breakdowns of current events. Those fans also include brands like Target, who have sponsored the newsletter.
Newsletters have become popular among media publishers who are looking for new ways to reach audiences, particularly ways that are more measurable and targeted. (Not that I’m biased or anything.)
The WSJ got its hands on a recent presentation by the company that includes performance that, if accurate, would make many newsletter publishers highly envious:
According to a recent presentation from theSkimm obtained by The Wall Street Journal, 40% of theSkimm’s audience opens all five email newsletters each week. About 80% of its readers are female, and 45% earn more than $100,000 a year, according to the presentation.
It’s possible that…