Finance

  • Why is bitcoin’s price so high?  Bitcoin’s price has risen stratospherically, a fact that leaves many minor players in the market with massive gains and many bigger players millionaires. But is this a bubble? Are the gains real? And are the bitcoin whales in for a sad Chri… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • 6 red flags of an ICO scam  With exponential growth in public interest, esoteric terminology and a lax regulatory framework, it is no surprise that some ICOs have been used to fund scams and cheat investors of their money. While nothing can compete with quality due diligenc… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • China’s JD partners with accelerator program Plug and Play to reach US startups  E-commerce giant JD.com, the closest rival to Alibaba in China, is broadening its presence in Silicon Valley after it announced a collaboration with accelerator firm Plug and Play to seek out and work with promising U.S. startups. The e-commerce … Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Facebook co-founder’s B Capital leads $10M investment in Indian payment startup Mswipe  B Capital, the investment firm from Facebook co-founder Eduardo Saverin that is backed by BCG, has stepped into India after it backed smart point-of-sale company Mswipe in its first deal in the country. The U.S.-Asia fund is investing $10 million… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Facebook co-founder’s B Capital leads $10M investment in Indian payment startup Mswipe  B Capital, the investment firm from Facebook co-founder Eduardo Saverin that is backed by BCG, has stepped into India after it backed smart point-of-sale company Mswipe in its first deal in the country. The U.S.-Asia fund is investing $10 million… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Okta reports earnings, moves headquarters and launches free service for startups  It was a big day for online identity management provider, Okta.  After reporting better-than-expected third-quarter earnings, the company also made a slew of announcements. Okta, which counts corporate clients like Nordstrom and government client… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn ...
  • With the Los Angeles tech scene exploding, CrossCut Ventures raises $125 million to invest  CrossCut Ventures, a Los Angeles-based seed investment firm has just closed its fourth (and largest) fund with $125 million in new cash. It’s been a long road for the firm’s three co-founders, who have been investing in Los Angeles si… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • With the Los Angeles tech scene exploding, CrossCut Ventures raises $125 million to invest  CrossCut Ventures, a Los Angeles-based seed investment firm has just closed its fourth (and largest) fund with $125 million in new cash. It’s been a long road for the firm’s three co-founders, who have been investing in Los Angeles si… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • With the Los Angeles tech scene exploding, CrossCut Ventures raises $125 million to invest  CrossCut Ventures, a Los Angeles-based seed investment firm has just closed its fourth (and largest) fund with $125 million in new cash. It’s been a long road for the firm’s three co-founders, who have been investing in Los Angeles si… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Why America could miss out big time on India’s fintech revolution  There’s an old trope in the West that India is like Indian trains — exotic, lurching and slow. But tropes can be bad as a business strategy — and this trope is causing American companies to miss out on Indian moonshots and trill… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Intuit’s ‘rise of the rest’ M&A strategy means large paydays outside the Valley  This morning, Frederic reported that Intuit has acquired TSheets, a time-tracking service, for $340 million. That’s one of the highest prices that Intuit has ever paid for an acquisition, roughly equal to the cost of the company’s acq… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • French peer-to-peer payment app Lydia adds Apple Pay support  A peer-to-peer payment app that works similar to Venmo from startup Lydia in France now works with Apple Pay (a feature originally announced in July), making it possible to spend your balance from the app wherever MasterCard and Apple Pay are acc… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • Revolut merges mobile banking with cryptocurrency trading  Revolut is merging traditional banking and cryptocurrency to let you buy, sell, trade, and hold Bitcoin, Litecoin, and Ether alongside 25 world fiat currencies. The $90 million-funded mobile banking startup is trying to erase the divide between o… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • SEC’s new cyber unit takes its first action to halt an initial coin offering ‘scam’  The Securities and Exchange Commission has charged Canadian crypto company PlexCorp with violating securities laws by selling up to $15 million in an initial coin offering (ICO). ICOs have seen explosive growth over the past year as fledgling com… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Target launches its own mobile payments system with debut of ‘Wallet’  As promised earlier, Target today launched its own mobile payments system with the introduction of “Wallet” in the Target app. Wallet, as the name implies, allows Target shoppers in-store to both check out using their smartphone as we… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • So what if bitcoin is another bubble? The dot-com bubble gave us the modern internet  “I get asked a lot… is this another dot-com bubble,” said Mona El Isa, the chief executive and co-founder of Melonport, onstage at TechCrunch Disrupt Berlin. “And, um… my response usually… goes something like&#… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on ...
  • Proof Work aims to decentralize medical data by using the blockchain  Tel Aviv-based Proof Work is envisioning a future where patients own and control their own medical data in a decentralized system, where data is secured by the blockchain. The system, if successful, would be a big disruption to how health care da… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • Israeli serial startup stars of blockchain tech return with QEDit, a zero-knowledge proof diligence tool  Leveraging some “mind boggling math” introduced as an update onto the Ethereum blockchain only a few months ago, QEDit is launching its product on our Battlefield stage at TechCrunch Disrupt Berlin. The company, which takes its name f… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • Apple’s hand is down and its $1 trillion dream now rests with consumers  As we head into the end of 2017, it’s pretty safe to say that Apple’s fate — barring any major issue with its phones — is now in the hands of its consumers. With the iPhone X now in stores (if you catch them at the right t… Share this:Click to email this to a friend ...
  • Equity podcast: Uber’s big discount, more money for Pokémon, and Jeff Bezos is worth how much?  Hello and welcome back to Equity, TechCrunch’s venture capital-themed podcast where we unpack the numbers behind the headlines. This week Katie Roof and Alex Wilhelm were joined by Heather Hartnett of Human Ventures. It has been a surprisin… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share ...
  • Equity podcast: Uber’s big discount, more money for Pokémon, and Jeff Bezos is worth how much?  Hello and welcome back to Equity, TechCrunch’s venture capital-themed podcast where we unpack the numbers behind the headlines. This week Katie Roof and Alex Wilhelm were joined by Heather Hartnett of Human Ventures. It has been a surprisin… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share ...
  • Spot.IM raises $25 million for a better comments section  Social media has become critical to the online publishers. It drives a lot of traffic and helps brands build a following. But it also means that a lot of the engagement happens on another platform, like Twitter or Facebook, instead of the actual … Share this:Click to email this to a friend (Opens in new window)Click ...
  • Yext sees 39% revenue growth in latest quarter  Yext, the company that powers search results for retail locations, reported third-quarter earnings after the bell on Thursday. The New York-based company said it brought in $44.3 million in revenue for the third quarter.This is 39% growth from th… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Lyft gained from Uber’s scandals, sees revenue triple  Lyft appears to have benefited from Uber’s tough year. The U.S. rival has seen its revenue growth more than triple, according to a report from The Information.  The media outlet viewed financial reports, which showed Lyft brought in $483 mi… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • PayPal Cash Wallet: Send Money – PayPal, Inc. Description TAP INTO YOUR MONEY Send money or pay online to almost anywhere in the world in just seconds. Manage all the ways you send, receive, and spend money at a glance – download the PayPal payment app today. SEND MONEY IN SECONDS Transfer money to PayPal account holders in over 100 countries using just their email address or ...
  • Coinbase – Buy Bitcoin & more – Coinbase, Inc. Coinbase is the world’s most popular bitcoin, ethereum, and litecoin wallet. We make it easy to securely buy, use, store, and accept bitcoin, ethereum, and litecoin. Coinbase for iOS has been designed from the ground up to to provide the best possible digital money experience on mobile. More than 10M customers trust Coinbase: – "Slick design and ...
  • Arianna Huffington’s Thrive Global raises $30M so you can work less and sleep more  Arianna Huffington wants you to work smarter, not harder. She believes a corporate mentality that rewards burning the midnight oil is actually reducing productivity, by causing burnout. Lack of sleep could be costing the U.S. economy $411 billion… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • Coinbase ordered to turn over data on users trading more than $20,000 to the IRS  Most digital currencies exist in a sort of twilight state just beyond the grasp of federal regulators, but the U.S. tax authority is starting to get savvy to this whole Bitcoin thing. On Wednesday, a federal judge in San Francisco ruled that Coin… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • Box is cash flow positive again, with 26% revenue growth  Box posted its third-quarter earnings after the bell on Wednesday. The cloud management business reported $129.3 million in revenue, up 26% from last year. This beat analyst estimates of $128.64 million. The company also reported an adjusted nega… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • Uber’s losses grew to $1.5 billion last quarter  Uber has given its shareholders an update on the company’s performance and it’s definitely in the red. The global ridesharing company lost $1.46 billion in just the third quarter. This compares to negative $1.06 billion in the previou… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • SoftBank says that Benchmark and Menlo intend to sell Uber shares  SoftBank Group has confirmed that it has found likely sellers for the tender offer for Uber’s shares, which launched tonight. These are the shares from existing shareholders that will be sold at more than a 30% discount to Uber’s last… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • SoftBank makes offer for Uber shares at 30% discount  A SoftBank Group-led team of investors has made an offer to buy Uber’s shares in a tender offer that would value the company at about a 30% discount to Uber’s last private valuation of nearly $70 billion, a source with knowledge of th… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Stitch Fix defies odds, soars over 50% since lackluster debut  It’s been just ten days since Stitch Fix debuted on the stock market, and it has risen almost 54 percent since that time. It’s an astonishing feat for the  fashion styling business, which got off to a rough start, but quickly turned t… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • Do VC woes extend to portfolio companies? For Rothenberg, probably not  As VC brands go, Rothenberg Ventures has seen better days. The firm built up a reputation as an up-and-coming early-stage investor. But Silicon Valley soured on Rothenberg Ventures last year; lawsuits ensued. So it hasn’t been a good year f… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click ...
  • Macy’s credit card processors stop working on Black Friday  It’s one of the biggest shopping days of the year, but retail giant Macy’s can’t get its credit card processors to work. Customers have been waiting in lines across the United States to buy discounted items, only to find out tha… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Equity podcast: Stitch Fix and Sailpoint get their IPOs done  AUDIO Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This week we assembled the full crew — Matthew Lynley, Katie Roof and Alex Wilhelm — along wi… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click ...
  • Revolut now has a million customers for its banking alternative  Fintech startup Revolut has reached a big milestone. The company now has over a million customers across Europe two years and a half after launch. The company says that customers have saved $160 million in foreign exchange fees compared to a trad… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • The US-based tech company that just went public in London  Boku, a U.S.-based carrier billing company, listed on the London Stock Exchange’s Alternative Investment Market recently, selling £45 million in stock. Only about one-third of those shares were from the company, however, with the rest sourc… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on ...
  • DreamQuark beefs up financial services through artificial intelligence  Meet DreamQuark, a French startup that wants to help banks, insurance companies and asset management firms with all of their artificial intelligence needs. DreamQuark crunches your data, creates models based on machine learning and lets you apply… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • DreamQuark beefs up financial services through artificial intelligence  Meet DreamQuark, a French startup that wants to help banks, insurance companies and asset management firms with all of their artificial intelligence needs. DreamQuark crunches your data, creates models based on machine learning and lets you apply… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • What is an IPO pop and why do VCs hate it so much?  Over the weekend, several VCs tweeted that my headline recapping Stitch Fix’s first day of trading was too harsh. The headline read, “Stitch Fix up just 1% on first day of trading, after reducing size of IPO.” I didn’t say… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • 100 cryptocurrencies described in four words or less  This list describes cryptocurrencies. Each gets four words. There are many. Some are landmarks. Some are scams. Hopefully this provides orientation. Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Twitter (Opens in ...
  • Silicon Valley could be the next hotspot for SEC whistleblowers  In recent years, the SEC has had greater success policing wrongdoing due in large part to the implementation of its whistleblower program. But the whistleblowers’ crosshairs are not limited to Wall Street. Individuals are beginning to come … Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • Stitch Fix gets a pop in its public trading debut  Stitch Fix revised where it would price its IPO lower last night ahead of trading, and it looks like it helped approach the right sweet spot as a result when it made its debut today. The company saw around a 15% pop in its stock when it began tra… Share this:Click to email this to a ...
  • Equity podcast: Musical.ly, Bumble, SendGrid and not Uber  Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This week, the crew — Katie Roof and Alex Wilhelm — were joined by David Pakman, a partner at Venro… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share ...
  • Equity podcast: Musical.ly, Bumble, SendGrid and not Uber  Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This week, the crew — Katie Roof and Alex Wilhelm — were joined by David Pakman, a partner at Venro… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share ...
  • Coinbase’s Custody service wants to store bitcoin for institutional investors  Safely investing in and storing digital currency isn’t exactly easy, especially if you’re a large institutional firm. So to help, Coinbase just announced that they’re launching a service called Coinbase Custody, which will secur… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share ...
  • Where and why venture capitalists invest close to home  Public market investors have the luxury of being able to make, invest and move their money anywhere they’d like. But the same isn’t true for startup investors, who, if conventional wisdom is to be believed, tend to invest relatively c… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Hear from leading venture capitalists at Disrupt Berlin  TechCrunch Disrupt is returning to Berlin this December, and among the founders and developers speaking, we’re pleased to have leading venture capitalists on stage to talk about fundraising, entrepreneurship and the trends they’re loo… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share ...
  • SendGrid raises $131 million after pricing marketing email IPO at $16  SendGrid, the Denver-based marketing email company, raised $131 million after pricing its IPO at $16, above the expected range of $13.50 to $15.50. The company also upsized its IPO, selling 8.2 million shares, instead of 7.7 million. The company … Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • MasterCard has filed a patent on its own blockchain-based money transfer solution  In about 2014, most bitcoin companies quickly pivoted to the “next big thing:” blockchain. Among them were the financial and fintech houses that were eager to avoid SEC scrutiny of their cryptocurrency holdings but were happy to use b… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Unpacking Lyft’s projected financials  Last Friday, Bloomberg reported a sheaf of Lyft’s financials that paint a reasonably-sharp picture of the ridesharing company’s past and expected business performance. The short version, as you certainly expected, is that Lyft is grow… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn ...
  • Poshmark raises $87.5 million for fashion resale marketplace  Poshmark, the app for fashion consignment, has raised another $87.5 million in funding led by Singapore-based Temasek. Menlo Ventures, GGV Capital, Mayfield and others also participated. Having raised $160 million to date, the startup is well-cap… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to ...
  • SoftBank could still walk away from Uber  Uber said Sunday that it agreed to move forward on a proposed investment from SoftBank Group. But SoftBank Investment Advisors sent a statement to reporters on Monday on behalf of CEO Rajeev Misra, emphasizing that it could still walk away. &#822… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Senate plans disastrous tax on vesting that could kill stock compensation  A proposed tax that charges people as their startup equity vests instead of when they cash it out and actually have money to pay the taxes could wreck how tech companies recruit talent. And the industry doesn’t have much time to mobilize to… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • European financial watchdog latest to warn over ICOs  European Union financial regulator, the ESMA, has become the latest regulatory body to issue a warning about the risks of buying into — and running — ICOs. Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click ...
  • Uber confirms SoftBank has agreed to invest billions  The paperwork’s done! The long-anticipated SoftBank Group investment into Uber has been agreed upon, a spokesperson confirms to TechCrunch. We’ve been provided the following statement. “We’ve entered into an agreement with… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens ...
  • SoftBank looks to finalize Uber investment today  After months of talks, SoftBank Group is close to finalizing its investment in Uber. Multiple sources tell TechCrunch that the deal is expected to be signed later in the day on Sunday. SoftBank plans to lead a $1 billion investment directly in th… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Twilio competitor Bandwidth up 6% following IPO  Bandwidth, a company that helps businesses with voice and text communication, debuted on the Nasdaq on Friday, going up about 6 percent on its first day of trading. After pricing its IPO at the bottom of the expected range at $20 per share, the c… Share this:Click to email this to a friend (Opens in new window)Click ...
  • Equity podcast: Roku’s on a tear, and Snap had an awful week  Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This week Katie Roof, Matthew Lynley and Alex Wilhelm dug into the recent earnings run and talked through what&… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in ...
  • Redfin shares fall 7% after real estate earnings disappoint  Redfin, the real estate brokerage site, saw its shares tumble about 7 percent in after-hours trading, shortly after sharing its earnings. The newly public business may have disappointed Wall Street, but it’s still growing. Revenue was up 35… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • Nvidia’s huge run continues as its data center business surges  Nvidia continues to ride the wave of a myriad of huge success stories for the company, like the rapid adoption of the Nintendo Switch and demand for technology to power AI computation within data centers, as it saw yet another quarter where its b… Share this:Click to email this to a friend (Opens in new window)Click ...
  • Chinese search engine Sogou up 4% following IPO  Sogou, the Chinese search engine, debuted on the New York Stock Exchange on Thursday, under the ticker “SOGO.” After pricing at the top of the range at $13 per share, the company raised $585 million. Sogou then hovered around $13.50 f… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Financial tech startup WeLab raises $220M from investors including Alibaba, the IFC and Credit Suisse  WeLab, an financial tech startup that operates online lending platforms in Hong Kong and China, has raised $220 million in combined equity and debt financing. The round, which WeLab says is its Series B+, brings its total funding so far to $425 m… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Square’s dominant year hits a snag  Square is continuing to make its bid to capture the payments of small businesses around the world, as well as tap into the momentum of peer-to-peer payments products with Square Cash, as its payments volume continues a steady and methodical rise … Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • BitTorrent inventor announces eco-friendly Bitcoin competitor Chia  A Bitcoin transaction wastes as much electricity as it takes to power an American home for a week, and legendary coder Bram Cohen wants to fix that. And considering he invented the ubiquitous peer-to-peer file transfer protocol BitTorrent, you sh… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Revolut is applying for a European banking license to become a true bank  It’s hard to believe that fintech startup Revolut still doesn’t have a proper banking license. Many users will tell you that Revolut’s electronic wallets already feel like traditional bank accounts with an IBAN and a payment car… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • Snap is having a bad day  Ho boy — there are bad days and there are bad days in an earnings season, and this is definitely the latter for Snap. The company released its quarterly report for its financial performance in the third quarter this year, and as a result, t… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Acorns to launch new retirement accounts after buying Portland fintech startup, Vault  Micro-investment service, Acorns, which automatically invests small amounts from its customers’ bank accounts into investment funds, has bought Vault, a Portland-based developer of retirement fund investment services. Vault’s applicat… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click ...
  • Neos launches IoT powered home insurance UK-wide  What do you get if you combine the Internet of Things with the business of home insurance? UK startup Neos is hoping the answer is damage and/or theft prevention rather than just after-the-unfortunate-fact payouts. Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click ...
  • A tale of two chip stocks  Broadcom confirmed this morning that it would offer to acquire Qualcomm in one of the largest tech deals of all time, and one that would consolidate two storied semiconductor companies into a single unit as the chip world has begun a course shift… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Apple offers more bonds to finance its $300 billion capital return program  Apple just started selling new bonds in order to finance a share buyback program and dividends for shareholders, as Bloomberg spotted in a filing. This is counterintuitive as Apple is sitting on a big pile of cash and probably doesn’t need … Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • Aquantia up 6% following semiconductor IPO  Tech IPOs have been picking up lately and one lesser-known semiconductor company, Aquantia, made its debut on the New York Stock Exchange today. The company raised $61 million in its offering, after pricing shares at $9.00. It closed the day of t… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Equity podcast: Apple and Tesla report earnings, and IPOs are back  Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This week was a treat due to the huge news cycle we followed. So, Katie Roof and I — Alex Wilhelm —… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Apple’s record services revenue suggests growth in Apple Pay, Apple Music  Everyone’s favorite almost-trillion-dollar company reported fourth quarter earnings after the bell on Thursday. And while much of the attention was on stellar iPhone sales, Apple wants to make sure that people know its services business is … Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • Cash App – Square, Inc. Pay your friends instantly, and cash out to your bank for FREE! Standard deposits show up the very next business day. You can also spend directly from the app with a free Visa debit card that can be delivered to your door. SAFE TO USE Protect payments with Face ID, Touch ID, or a passcode INSTANT DEPOSITS Optionally cash ...
  • VCs’ carried interest is safe for now, preserved in a new tax bill released today  The House tax bill released earlier today has something for VCs (and private equity folks, and hedge fund managers) to celebrate: it doesn’t touch the carried interest tax break that both Donald Trump and Hillary Clinton vowed to do away wi… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Apple taps $900B after a blowout fourth quarter  Apple is continuing its run toward $1 trillion today, as a huge fiscal fourth quarter sent the stock to new highs and helped its market cap briefly hit $900 billion — though it’s since leveled off just a bit and is now resting just a … Share this:Click to email this to a friend (Opens in ...
  • Apple delivers on its much-hyped promise to Wall Street in spades  As Apple looks to set itself up to Wall Street as the de facto standard of what a smartphone can — and should — look like as consumer demand evolves over time, it was able for the large part to deliver on that claim as it showed up wi… Share this:Click to email this to a ...
  • Blue Apron shares trade down 9% after disappointing earnings  Blue Apron just can’t catch a break. The New York-based cooking kit business released its third-quarter earnings before the bell on Thursday. The results were mixed. The company handily beat revenue expectations, but its losses were also wo… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • Coin offerings using celebrity glitter may not be golden, SEC warns  A slew of media stars have hitched their stars to various virtual currencies, lending their social media outreach and luster to projects that have seemed less than golden. Now the SEC is warning celebrities that their endorsements “may be u… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Tesla’s Wall Street hype train hits a speed bump  Tesla’s march toward its goal of being able to produce 5,000 Model 3 vehicles per week is a very expensive prospect — but the company, which says it will have $1 billion in capital expenditures for the fourth quarter this year, says i… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Yelp beats earnings, but outlook is bad  Yelp, the platform which connects consumers and local businesses, posted third-quarter earnings after the bell on Wednesday. Yelp’s net revenue for the third quarter was $222.4 million, 19 percent growth for the same period last year. This … Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click ...
  • Hear what cryptocurrency has to offer with Gavin Wood and Jutta Steiner  Cryptocurrencies like Bitcoin and Ethereum have created as much excitement among a new generation of investors and speculators in this century as tulip bulbs meant for a past generation of prospectors, with about the same level of nuance of under… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Stripe Atlas adds a tool to set up stock issues for founding teams as it builds its business services  Stripe Atlas was launched by payments company Stripe last year to help small businesses set themselves up as a legal, incorporated business entity in the U.S. Now with “thousands” of entrepreneurs from 125+ countries using Atlas, Stri… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • Shippo quietly raised $20 million last spring  Shippo, the business shipping platform, says it has raised a $20 million Series B, under the radar last spring. It was led by Bessemer Venture Partners, with participation from Union Square Ventures, SoftTech VC and others. The company chose not … Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Remitly is raising up to $115M led by Naspers’ PayU to double down on remittances  International remittances continues to be one of the biggest financial services in developing countries, with $450 billion getting sent from countries like the U.S. to emerging markets in 2017 alone, according to the World Bank. Now, one of the b… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Apple’s spat with Qualcomm may reportedly escalate to the hardware level  Apple and Qualcomm’s feud appears to be escalating further heading into the fourth quarter, as a new report by The Wall Street Journal this evening indicates Apple is designing iPhones and iPads that would not include Qualcomm’s compo… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • Cardlytics filed for marketing analytics IPO  Cardlytics has been on file for IPO, multiple sources tell TechCrunch. The Atlanta-based marketing analytics business filed its confidential S-1 last year and has been trying to determine the best time to go public. One source with knowledge of t… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Apple’s bid to become a $1 trillion company starts this week  While people spend more than $1,000 for the right to eventually get an iPhone X (as well as sell that right to eventually get an iPhone X for more than $1,500), we’re seeing Apple is doing a pretty good job of setting the stage as to whethe… Share this:Click to email this to a friend (Opens in new ...
  • Here’s a chart that shows why financial earnings are a big deal  So, we’re midway through earnings season, and as you’ve probably seen, we’ve covered a majority of the big companies that have reported thus far. There are plenty more that have reported, and there are still more to come, but th… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • A critical metric for Alphabet’s success is suddenly showing signs of life  Alphabet delivered a knockout quarter today, handily beating the estimates from Wall Street — but, perhaps more importantly, showing actual growth in a critical metric that has seen a consistent decline for quite some time. Google’s c… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to ...
  • Amazon shares pass $1,000 after posting strong financials  Amazon shared third-quarter earnings after the bell on Thursday. The company posted significantly better-than-expected earnings, at 52 cents per share, when analysts were forecasting just three cents. Shares quickly ticked up 7 percent in initial… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share ...
  • Uber’s new credit card could be a hard sell (updated) Uber isn’t known for protecting the privacy of its drivers or riders. Tim Cook reportedly had to threaten to remove the Uber app from iPhones after he discovered the app was “fingerprinting” iPhones with a permanent ID. The ride sharing company had t… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Current raises $5M for its debit card for teens that parents control with an app  Current announced today it has raised $5 million in Series A funding for its debit card aimed at kids that parents can control with an app. The company first introduced its Visa debit to the market in May. Kids can use the card to shop in stores … Share this:Click to email this to a friend ...
  • PayPal – Send & Receive Money – PayPal, Inc. Description TAP INTO YOUR MONEY Send money or pay online to almost anywhere in the world in just seconds. Manage all the ways you send, receive, and spend money at a glance – download the PayPal payment app today. SEND MONEY IN SECONDS Transfer money to PayPal account holders in over 100 countries using just their email address or ...
  • Congress votes to disallow consumers from suing Equifax and other companies with arbitration agreements  The Senate voted late Wednesday night to strike a federal rule that would have allowed consumers affected by the Equifax hack to sue the company. Without it, the millions affected by the historic security breach may be disallowed from related joi… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Jiko raises $7.7 million for debit card with cash back  A lot of startups have been raising money for credit cards and other financing businesses lately. Now Jiko has debit card technology that has convinced Upfront Ventures, Radical Impact, Social Capital and others to invest $7.7 million in a Series… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Zebra releases auto insurability score to reveal how badly you actually drive  Everyone thinks they’re an excellent driver, but it’s just that auto insurance companies don’t treat them with the appropriate respect. Well, The Zebra, the startup car insurance marketplace, just introduced a new tool called an… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share ...
  • Equifax hack being probed by UK’s financial watchdog  The fallout from the massive Equifax hack, publicly disclosed last month, continues: Today the UK’s financial watchdog said it also wants to get to the bottom of what happened.    Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn ...
  • Equifax hack being probed by UK’s financial watchdog  The fallout from the massive Equifax hack, publicly disclosed last month, continues: Today the UK’s financial watchdog said it also wants to get to the bottom of what happened.    Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn ...
  • N26 announces plans to launch in the US by mid-2018  European fintech startup N26 has plans to expand beyond Europe. The company’s co-founder and CEO Valentin Stalf is announcing today at the Money20/20 conference that N26 is going to launch in the U.S. around mid-2018 and has hired a handful… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Intuit’s Turbo wants to help you better understand your financial health  Few companies have more data about the financial health of individuals in the U.S. than Intuit, thanks to its TurboTax, Mint and QuickBooks tools. For the longest time, though, the company didn’t bring these tools together. That’s slo… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • Apple Pay now in 20 markets, nabs 90% of all mobile contactless transactions where active  While we are going to have to wait a little longer for Apple to launch payments in iMessage, this weekend, Jennifer Bailey, Apple’s VP of Apple Pay, announced a series of other milestones for the digital wallet and payments service that com… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • SoFi held acquisition talks with Charles Schwab  SoFi, the online lending giant, held conversations with Charles Schwab about a potential acquisition by the brokerage firm, according to a source with knowledge of the discussions. The M&A talks were first reported by the Financial Times and … Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • New venture capitalists find strength in numbers  Ian Rountree, the twenty something captain at the helm of Cantos Ventures, an SF-based micro-fund, is characteristic of a new breed of venture capitalists in tech — a group of  small funds looking to go toe-to-toe with some of the valley&#8… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • MongoDB prices its IPO at $24 per share  MongoDB has finished up what is essentially the final step in going public, pricing its IPO at $24 and raising $192 million in the process. The company will debut on the public markets tomorrow and will once again test the waters for companies th… Share this:Click to email this to a friend (Opens in new window)Click ...
  • Blue Apron is laying off hundreds of employees  As Blue Apron approaches its next earnings report in a couple weeks, the company said Wednesday that it is laying off 6% of its staff as part of “a company-wide realignment of personnel to support its strategic priorities.” Blue Apron was one of the big — and most anticipated — consumer IPOs of the year, but it’s ...
  • eBay is having a pretty bad day  eBay is not having a great afternoon after posting a pretty ho-hum third quarter that fit roughly in line with analyst estimates, but perhaps not seeing the kinds of leaps that Wall Street is looking for heading into the fourth quarter. The company said it added an additional 2 million  active buyers and now says ...
  • Barry Diller takes shots at VCs, startup valuations  Media mogul and IAC chairman Barry Diller had some choice words for venture capitalists when he took the stage at WSJ D.Live in Laguna Beach on Tuesday. “These valuations don’t bear reality,” said Diller, speaking about the high multiples that some startups are generating. “They’re truly made up.” Read More Share this:Click to email this to ...
  • Uber-SoftBank deal “very likely” to be finalized in the next week  The Uber-SoftBank deal is almost done, said Arianna Huffington on stage at WSJ D.Live in Laguna Beach on Monday. When pressed whether SoftBank’s multi-billion dollar investment in Uber could be finalized within the week, the Uber board member replied that it’s “very likely.” She confirmed media reports that the proposed deal would involve both a ...
  • Netflix’s original content costs are ballooning  Netflix today once again showed that its subscriber growth is on a tear — especially its growth internationally — but a note in the report may indicate one of the biggest challenges the company faces going forward. Netflix took home 20 Emmy awards this year, and that’s thanks to its enormous investments in original content. ...
  • Netflix’s original content costs are ballooning  Netflix today once again showed that its subscriber growth is on a tear — especially its growth internationally — but a note in the report may indicate one of the biggest challenges the company faces going forward. Netflix took home 20 Emmy awards this year, and that’s thanks to its enormous investments in original content. ...
  • Netflix crushes its own expectations for subscription growth again  Netflix is still on its rounded-up-to-pretty-great run as it continues to add more and more subscribers, and once again is outstripping its own estimates for growth. Today the company said it added 5.3 million new total subscribers, with 850,000 … Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • 7 huge business storylines for this quarter’s earnings season  It’s that time of the year again: earnings season. It’s a finance nerd’s dream, but for the rest of the world, it’s important because some of the biggest technology companies in the world spill their guts to the public. We get to see who’s winning, who’s losing and what’s going wrong. So, on that note, ...
  • The HOLD 10 Index is a passively managed fund of the top 10 cryptocurrencies  This year the market capitalization of all cryptocurrencies has grown from about $13 billion to well over $150 billion, fueled by infusions of capital from all different types of investors. But regardless of this extreme growth, it’s still very complicated for most people to invest in cryptocurrency. So one startup is launching a private index fund ...
  • Russia may soon issue its own official blockchain-based currency, the CryptoRuble  Russia will issue its own official cryptocurrency, the CryptoRuble, capping months of speculation about the country’s approach to the technology. While in a way it indicates an embrace of the likes of Bitcoin and Ethereum, the CryptoRuble is unlikely to share the truly decentralized nature of other coins. Read More Share this:Click to email this to ...
  • Tesla has fired hundreds of employees after performance reviews  Tesla fired hundreds of employees following what the company said is an annual performance review process, the company told TechCrunch. The news was first reported by The Mercury News. “Like all companies, Tesla conducts an annual performance review during which a manager and employee discuss the results that were achieved, as well as how those results ...
  • Qualcomm fires another shot at Apple with a new lawsuit in China  Qualcomm has filed a lawsuit against Apple in its continuing legal battle over patents, this time looking to block the manufacturing and sale of iPhones in China, according to a report by Bloomberg this morning. It’s another shot at Apple as the companies continue to duel with Apple regarding payments for its technology. Apple filed a ...
  • Equity podcast: IPO spree continues, and Magic Leap wants $1 billion  Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This week we had the full crew on deck: Katie Roof, Matthew Lynley and myself — Alex Wilhelm. All that and we were joined by Jeff Grabow, the U.S. venture capital leader at EY. Grabow was a treat to have on, as he has a ...
  • Bitcoin just passed $5,000  This morning bitcoin shot past $5,000, and is now hovering around $5,300 — up nearly 10 percent from yesterday. It’s the first time the cryptocurrency has confidently shot past $5,000. Some exchanges saw the price hit $5,000 for a few minutes in September, but it only lasted for about 10 minutes, making today the first ...
  • Coinbase is launching instant purchases and ditching the 3-5 day wait period  Coinbase just announced that users can instantly purchase cryptocurrency and have it be funded from a U.S bank account. Until now these types of purchases took between 3-5 days to complete, as Coinbase waited for funds to transfer via ACH before they credited your purchase. This wait meant that users would often get frustrated because ...
  • ROSS Intelligence lands $8.7M Series A to speed up legal research with AI  Armed with an understanding of machine learning, ROSS Intelligence is going after LexisNexis and Thomson Reuters for ownership of legal research. The startup, founded in 2015 by Andrew Arruda, Jimoh Ovbiagele and Pargles Dall’Oglio at the University of Toronto, is announcing an $8.7 million Series A today led by iNovia Capital with participation from Comcast Ventures Catalyst Fund,… Read ...
  • MioTech gets $7M to build artificial intelligence based tools for wealth managers in Asia  MioTech, a financial tech startup with offices in Hong Kong and Shanghai, has raised $7 million in Series A funding to develop artificial intelligence based software for investment managers. The round was led by Horizons Ventures, the private inv… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Four behavioral economics strategies for improving consumer financial health  At Common Cents Lab, we believe behavioral science can help improve financial well-being. For the past two years, we’ve been applying our insights and an experimental mindset to work with fintech companies, credit unions and nonprofits to test this assumption. Twenty-six experiments in, we thought it was time to assess our progress and share what we’ve ...
  • Cap table apps team up as Solium acquires Capshare  Uber, SpaceX and Stripe rely on Solium to keep track of all their shareholders and stock plans; 10,000 smaller startups turn to Capshare for more streamlined equity software that’s not clumsy like spreadsheets. Now Solium is buying out Capshare and letting it run independently, so together they can handle shareholder management from inception to IPO. ...
  • Over 5,000 Wells Fargo ATMs now support card-free access via Apple Pay and other mobile wallets  Wells Fargo’s ATMs are getting an upgrade. The bank announced today that more than 40 percent – or over 5,000 of its ATMs – will now allow customers to perform transactions without having to pull out their bank card. Instead, users can take advantage of NFC – aka the “tap and pay” technology that powers ...
  • Vertex Ventures closes new $210M fund for Southeast Asia and India  Vertex Ventures, one of the VC funds that is linked to Singapore sovereign fund Temasek, has closed its third investment fund for Southeast Asia and India with a total of $210 million for investment. Vertex Venture Holdings operates five funds ac… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • EU raids banks over attempts to block financial tech rivals You’d think that governments were waging a war against financial technology given reports of crackdowns and tighter regulation, but the opposite is true in Europe. EU officials have confirmed that they recently raided the offices of bank authorities… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Flexport’s epic plan to build a freight empire with its $110M raise  “We’re actually out here trying to create value, not just give venture capital money away” says Flexport CEO Ryan Petersen. “It’s counterintuitive. The more the business works, the more cash it needs.” That’s because Flexport doesn’t ship bits, it ships atoms. Lots of them. Flexport is a freight forwarding logistics network. If you produce a… ...
  • Aviva is taking a majority stake in robo investment startup Wealthify  UK-based insurance giant Aviva has announced it’s buying a majority stake in robo investment startup, Wealthify. Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Twitter (Opens in new window)Click to share ...
  • The new age of ICOs is here, and it’s not based on Ethereum  ICOs are said to be the new way to raise money. We’ve seen companies raising millions by selling tokens. Against the money raised, the tokens they gave were created and sold on the Ethereum blockchain — meaning that all the trade happened on the Ethereum blockchain and the tokens created are tracked on the Ethereum ...
  • N26, Revolut and Monzo founders to talk about starting a bank from scratch at Disrupt Berlin  What do N26, Revolut and Monzo have in common? The three founders of those three startups are all coming to TechCrunch Disrupt Berlin to discuss all things fintech. If you want to see Valentin Stalf, Nikolay Storonsky and Tom Blomfield share the … Share this:Click to email this to a friend (Opens in new window)Click to ...
  • PlayStation credit card gives extra money back for gaming purchases If you’re a PlayStation fan, you probably use your credit card for a lot: games, add-ons, the virtually obligatory Plus subscription and the occasional accessory. Wouldn’t it be good if you could at least get some compensation for pouring so much mo… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Artificial intelligence is about the people, not the machines  From hedge funds to venture capital firms, everyone in finance has some idea about how data and quantitative analysis will reshape their industry. Firms like Signal Fire track engineers as they move from company to company to draw attention to gr… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Angry Birds maker Rovio sees a small pop of 6% to €12.20 in its trading debut  Rovio, maker of the Angry Birds gaming franchise, saw a small pop of 6 percent in its first day of trading as a public company. After pricing its IPO at €11.50 per share — the top of its range — yesterday, today the stock opened on the Nasdaq Nordic exchange at €12.20, and at the ...
  • Accela gets acquired by Berkshire Partners as it looks to move govtech services to the cloud  Boston-based private equity shop Berkshire Partners announced this afternoon that it is acquiring Accela — a nearly 20 year old startup that sells regulatory management solutions to government clients. Accela has gone through a troika of CEOs in the last year. Previously acting CEO Mark Jung replaced Maury Blackman last October who had managed the company for about ...
  • Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies  Fidelity Investments, one of the world’s largest investment firms with $2.3 trillion in managed assets, is taking a long look at cryptocurrencies.  The firm has been experimenting internally with bitcoin, but is now bringing some of those features out to its broad customer base.  Read More Share this:Click to email this to a friend (Opens in new ...
  • Naspers invests another $775M in food take-out giant Delivery Hero  Naspers, the South African media and internet giant, has upped its stake in Delivery Hero, the Berlin based food-delivery giant that went public earlier this year and has a market cap of $6.8 billion. Naspers has acquired another 13 percent of the company, 22.4 million shares, equivalent to about €660 million ($775 million), from Rocket Internet. ...
  • HSBC app will let you manage accounts from multiple banks HSBC is readying a mobile app that will allow customers to manage multiple accounts from different banks. “HSBC Beta” will support 21 money-keepers at launch, including Santander, Lloyds and Barclays, so users can review their current account, loans,… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • Following its $25M ICO, Omise lands strategic investment from Thai bank Krungsri  Earlier this year Thailand-based Omise held a $25 million ICO to develop a next-generation decentralized payment network, and now the company has closed an undisclosed investment from Thai bank Krungsri (Bank of Ayudhya). Omise has raised over $20 million in VC money — the ICO was for its Omise Go (OMG) division — but this new financing ...
  • Onfido raises $30M more for its AI-based identity verification technology  Malicious hackers and security breaches that have exposed personal information of millions of people have pushed the issue of online security into the spotlight, not just for individuals but for organizations that do business with them. Now a company called Onfido, which has built a way to help websites verify people’s identities using a photo-based ...
  • Chime raises $18 million for mobile banking without the fees  It’s a bank account and debit card built for the digital age. Chime is raising $18 million in Series B financing for its mobile-first approach to banking. Cathay Innovation led the round with participation from Northwestern Mutual Future Ventures, Crosslink Capital, Forerunner Ventures, Homebrew and others. Without monthly fees or overdraft charges, Chime tries to ...
  • Alibaba’s Ant Financial partners with Hutchison to develop its Alipay service in Hong Kong  Ant Financial, the Alibaba affiliate that operates payment service Alipay and other digital finance products, has continued its Asia expansion with a move into Hong Kong. Alipay and Alibaba’s MyBank digital bank dominate in China, where they are used by over 450 million consumers, and this year Ant has broadened its presence with deals in Southeast Asia, ...
  • Waymo clarifies it actually wants $1.8 billion from Uber  Last week, Uber’s legal team told Judge William Alsup that Waymo was seeking $2.6 billion for an allegedly stolen trade secret related to the company’s autonomous vehicle efforts. Over the weekend, Waymo filed a document with the court noting that the correct figure was actually  $1.859 billion. It’s not clear why this seemingly important detail was ...
  • Southeast Asia games firm Sea, formerly Garena, files for $1 billion US IPO  Southeast Asia-based games and e-commerce firm Sea, formerly known as Garena, has officially filed for its much-anticipated U.S. IPO. The company, which is valued at over $3.75 billion, will list on the New York Stock Exchange as ‘SE’ and is looking to raise $1 billion. Sea is best known for its Garena gaming business, which ...
  • Facebook drops no-vote stock plan, Zuck will sell shares to fund philanthropy  Mark Zuckerberg has gotten so rich that he can fund his philanthropic foundation and retain voting control without Facebook having to issue a proposed non-voting class of stock that faced shareholder resistance. Today Facebook announced that it’s withdrawn its plan to issue Class C no-vote stock and has resolved the shareholder lawsuit seeking to block ...
  • How to run a token sale  Seed funding is drying up. Accelerators are scrambling for revenue. Things are changing drastically in the startup ecosystem. So how do you raise money when your product needs more than some Django code and an AWS instance? You run an ICO, right?… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • Database provider MongoDB has filed to go public  MongoDB, a database software company based in New York, has filed to go public with the Securities and Exchange Commission as it continues to burn a ton of cash despite its revenue almost doubling year-over-year. The company, which provides open-… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Activehours raises $39 million for its new take on cash advances  Nine months after raising $22 million for its unique take on the cash-advance business, Activehours has gone back to the venture capital well and pulled out another $39 million in financing. Led by Andreessen Horowitz, with participation from the company’s early-stage investors Matrix Partners, Ribbit Capital, and March Capital Partners, Activehours has managed to now raise ...
  • With new funding, Tuition.io moves from student loan management to student loan repayments  Back in 2014, Tuition.io was pitching itself as a management platform for student loan repayments. Now, three years later the company has raised $7 million in new financing as it moves from loan management services to actual repayment of student loans. It’s a business model that’s already shown promise, with companies like FutureFuel.io also looking to ...
  • YC wants to let people invest in its startups through the blockchain  ICOs — or initial coin offerings — are emerging as a route for startups to raise money from a wide pool of investors through cryptocurrency networks. Speaking at the TechCrunch Disrupt conference in San Francisco, Y Combinator president Sam Altman painted a mixed picture of the role of ICOs in the tech world today. It ...
  • 10x, founded by the ex-CEO of Barclays, raises $46M to take on ancient banking infrastructure  The fintech revolution continues apace, and while many startups are hoping that newer and better tech will help them take business away from traditional banks, today a company has received a large round of funding to help those incumbent institutions better compete. 10x Future Technologies is a startup that has built a ground-up platform that incorporates machine ...
  • Cash App: Send & Receive Money – Square, Inc. Pay your friends instantly, and cash out to your bank for FREE! Standard deposits show up the very next business day. You can also spend directly from the app with a free Visa debit card that can be delivered to your door. SAFE TO USE Protect payments with Touch ID or a passcode INSTANT DEPOSITS Optionally cash out to ...
  • Wall Street dings Apple after some reported LTE connectivity issues on the new Watch  There are a lot of reports hitting the ‘net this morning in reviews of the Apple Watch Series 3, which indicate that there are some LTE connectivity issues — causing Apple to take a small dip this morning and a speed bump in its march to $1 trillion. Shares of Apple fell around 2.5% this ...
  • Ripio Credit Network launches, aiming to attack bank loan fees in emerging markets  Ripio Credit (formerly BitPagos), the project that reached the finals at last year’s TechCrunch Disrupt Battlefield in New York, is about to launch its new venture. The Ripio Credit Network (RCN) will be public in November and is designed to grow the product and platform outside Latin America, into the fast-emerging developing world. Born in Argentina, ...
  • Younited Credit raises $47.8 million for its crowdlending platform  French startup Younited Credit is building the biggest crowdlending platform in continental Europe. The company just raised $47.8 million (€40 million) to launch in new countries, work on new product features and more. Younited Credit is currently live in France, Spain and Italy as a consumer-facing product. Consumers can borrow anything between $1,200 and $48,000 (€1,000 ...
  • U.S. Justice Department investigating Equifax execs who dumped shares before announcing breach  The U.S. Justice Department is said to be investigating the questionable sale of stock by Equifax executives in advance of the company’s public announcement of its massive data breach. The investigation is said to include U.S. prosecutors in Atlanta, the FBI and the Securities and Exchange Commission, according to a report this morning from Bloomberg. Three ...
  • Chilean startup ComparaOnline raises $14 million for its financial education tools for Latin America  Venture investing in Latin America continues to pick up the pace, with new deals in financial technology services leading the way. One example of investors’ renewed interest in regional financial services companies is the $14 million in financing that ComparaOnline just wrapped up. The company, now backed by private equity firm Bamboo Capital Partners and ...
  • Equifax security and information executives are stepping down  Top executives at Equifax are retiring effective immediately, according to the WSJ. Susan Mauldin was the company’s chief security officer and David Webb was the chief information officer. The report says the executives are retiring though, in the wake of the company’s major security breach, “retire” feels like an euphemism for “fired.” Read More Share this:Click to email ...
  • Equity podcast: SoFi loses its CEO, big rounds for unicorns, and will this VC buy the iPhone X?  Hello and welcome back to Equity, TechCrunch’s venture-capital themed podcast that we are bringing live to Disrupt SF next Wednesday. All the cool kids will be there to chat numbers and heckle. This week Katie Roof, Matthew Lynley, and myself — Alex Wilhelm — were joined by Accel’s Jake Flomenberg to dig through the biggest news ...
  • CashShield raises $5.5 million to prevent credit card fraud  Over $10 billion is wasted every year due to fraudulent e-commerce charges and that number is growing. This is not only costly and time-consuming for the businesses, but also the credit card companies and customers. But now there are several star… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • SEC shows support for ICO’s that are not obviously securities  The SEC appears to have taken very thoughtful action on two crypto projects to date.  Nay-sayers are predicting the end, while proponents of crypto dismiss the actions. Here’s a quick analysis of what is actually happening.  The two recent steps by the SEC were: The SEC actually issued a letter on one project – the ...
  • Social Capital to take startups public without an IPO  Silicon Valley venture firm Social Capital just completed the first step in its mission to take startups public without the IPO. The team has listed something called a special purchase acquisition company, known as a SPAC. More common outside of … Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Bankers’ mistrust of bitcoin is still the greatest argument for it  Earlier on Tuesday, at different conferences around New York, JPMorgan Chase chief executive Jamie Dimon took aim at bitcoin, calling the cryptocurrency “a fraud” and “worse than tulip bulbs.” This skepticism by one of Wall Street’s titans, and its reflection in many offices and hallways in top financial services companies, is perhaps one of the ...
  • Venmo is offering users an (ugly) physical debit card  After Square unveiled a free debit card that would be tied to their Square Cash App, it was only a matter of time until we saw Venmo do something similar. TechCrunch has learned that Venmo is inviting some users to a beta program where they’ll be sent a card for free that is attached to ...
  • Don’t count on any Apple fireworks on Wall Street next week  Barring Apple coming out with a delayed launch date for the next-generation iPhone, the guts of which are basically laid out on the Internet already, Apple’s shares are probably not going to see the kinds of explosive activity you might expect around something as hyped as a massive iPhone revision. Instead, Wall Street — which ...
  • Is it exit season yet?  Startup funding and exiting activity has been slow over the past few months in the U.S. Fewer companies closed rounds, IPO volumes were light, and not a lot of big M&A deals got done. But that’s to be expected, right? After all, it was summer break. Now that Labor Day’s over and we’re back at our ...
  • Equifax stock tumbles 14% after credit score hack  Credit score business Equifax revealed Thursday that 143 million people were compromised in a cyber attack. Social security numbers and other personally identifying information were accessed. And guess what, the stock market didn’t like it! The company lost about $2 billion in market cap Friday after tumbling nearly 14%.  Apparently, the company has known about the ...
  • Bitcoin price drops following report that China is going to shut down local exchanges  Another day, another crash and another Chinese ban. This time, as Reuters spotted, a single report from financial news site Caixin is saying that the Chinese government is considering banning cryptocurrency exchanges in China. In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using ...
  • Equifax execs dumped stock before the hack news went public  In today’s edition of unfettered corporate greed, we bring you the Equifax managers who apparently sold almost $1.8 million in stock after the company became aware that it had a big problem on its hands. Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • Okta has a great earnings day on the back of strong international growth  Okta kept its beat-streak alive today with a healthy earnings report. On the back of international growth and a healthy services business, Okta beat revenue expectations by nine percent and managed to handedly top EPS expectations. Analysts had been expecting about $55.9 million in revenue with a loss of $0.26 per share. Instead, Okta reported $61 ...
  • Square will apply for an industrial loan company license this week  There’s been a lot of questions about whether or not Square aspires to become a bank. Now that speculation can be laid to rest. Square will file an application to become an industrial loan company (also referred to as industrial banks) with the Federal Deposit Insurance Corporation. Read More Share this:Click to email this to a ...
  • Yext touts 38% revenue growth as it adds retail locations to search  Yext, the company that powers retail location search results, reported its earnings after the bell on Wednesday, its second report since going public in April. The company showed that for the quarter ending in July it brought in $40.8 million in revenue, up 38% from the same period last year. It’s also slightly above the ...
  • Cryptocurrencies have crashed 20% in two days  The cryptocurrency correction may have started. After months of unprecedented appreciation, almost every digital currency is seeing double digit losses over the last 48 hours. While a quick glance at the chart above or at coinmarketcap.com shows how bad things have been, you can get a sense of where things are by looking at losses ...
  • SoFi responds to sexual harassment and wage lawsuits  Last month, Social Finance, or SoFi, a startup centered around the refinancing of student loans, was sued by an employee. The senior operations manager who filed the lawsuits, Brandon Charles, says he was wrongfully terminated for reporting sexua… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • Equity podcast: The Uber saga, delayed IPOs and just what is an ICO?  Hello and welcome back to Equity, a social experiment regarding how many acronyms an audience can endure before passing out. Each week we dive into the world of venture capital, looking to understand exactly what’s going on behind the money. This week Katie Roof, Matthew Lynley, and myself — Alex! — were joined by Samuel ...
  • Basis Set Ventures gets real to get to the heart of AI startups  Lan Xuezhao has spent the last few months pulling together $136 million for her new machine intelligence-focused venture capital fund, Basis Set Ventures. I met Xuezhao for tea on a park bench in Potrero Hill earlier this week to chat about her strategy for the fund. Read More Share this:Click to email this to a friend (Opens ...
  • Venmo – Send & request money with friends – Venmo Venmo is the simple and fun way to send & request money between friends. Whether you’re splitting a dinner bill, the rent check, concert tickets, or the cost of a road trip, Venmo removes the awkward talks over who owes what. Just send or request money with a message or emoji combo of your choice, then ...
  • Ezetap, racing against bigger rivals like Paytm, just raised $16 million in fresh funding  There are more than 1 billion cellphone users in India, which abruptly went cashless last November, when  Prime Minister Narendra Modi announced that millions of high-denomination currency notes would no longer be legal tender. These two developments play nicely into the vision of Ezetap, a six-year-old, Bangalore-based startup whose software as a service is used by more ...
  • Mortgage technology provider Blend raised another $100 million led by Greylock  San Francisco-based Blend is simplifying the process of mortgage applications for both borrowers and lenders, but is looking to expand into other lending products. To do that the company has raised $100 million in new funding led by Greylock, with participation from a bunch of existing investors. Read More Share this:Click to email this to a friend ...
  • Mortgage technology provider Blend raised another $100 million led by Greylock  San Francisco-based Blend is simplifying the process of mortgage applications for both borrowers and lenders, but is looking to expand into other lending products. To do that the company has raised $100 million in new funding led by Greylock, with participation from a bunch of existing investors. Read More Share this:Click to email this to a friend ...
  • Social Capital to help startups go public without an IPO  Silicon Valley venture firm Social Capital plans to help startups go public without the dreaded IPO process. And it’s something different than what Spotify is doing.  Social Capital is creating a shell company known as a “SPAC” that exists solely to merge with a startup. These types of transactions are not rare outside of the ...
  • Uber’s financials show company is still growing, despite the drama  Uber’s past six months have been tumultuous, with lawsuits and allegations of harassment. The company doesn’t even have a CEO right now, but newly released financials suggest that most users don’t care. First reported by Axios, Uber has confirmed to us that Uber’s $8.7 billion in gross bookings were up 17 percent in the second ...
  • Salesforce slides past its $10B annual run rate target  Earlier this year it looked as though Salesforce was starting to position itself as a company that would hit $10 billion in annual revenue run rate later this year — and, if all seems well, it looks like it may hit that target. Salesforce reported its second-quarter earnings today, saying it brought in $2.56 billion ...
  • Indian online lending platform Capital Float raises $45M Series C  Capital Float, which claims to be the largest online lending platform in India, announced today that it has raised a $45 million Series C led by Ribbit Capital. Returning investors SAIF Partners, Sequoia India and Creation Investments also partic… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Taxes in the gig economy  The first generation of gig economy contractors is essentially riding shotgun as an entirely new industry defines itself. While they enjoy flexibility and a convenient way to supplement a primary income, they also must act as guinea pigs uncovering the shortcomings of the industry’s support network. One issue in particular has become a clear gap for gig economy workers: taxes. ...
  • Google needs to pay Apple a small fortune to remain the default search engine on iOS  Apple and Google could be the biggest frenemies in tech. While they both compete like there’s no tomorrow, they also partner on some very specific deals. For instance, Google is paying a ton of money to remain the default search engine on iOS. As CNBC first reported, according to a Bernstein analyst, Google could pay as ...
  • bxblue wants to move payroll-secured loans online in Brazil  Payroll-secured loans are a $40 billion a year business in Brazil, but that business largely happens offline. A startup in Y Combinator called bxblue wants to change that by creating a marketplace for borrowers to evaluate multiple loan options all in one place. Read More Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Teenage bitcoin millionaire is back with a better Botangle  Erik Finman gained notoriety and a certain fame as a 14-year-old entrepreneur and bitcoin investor who’d managed to turn a $1,000 investment in the cryptocurrency into more than a million dollars and a chance to never see the inside of a college institution. Now, several years after its sale, Finman is buying back his original startup: Botangle. ...
  • Equity podcast: Uber’s board mess, the Angry Birds IPO, and MongoDB files to go public  Hello and welcome back to Equity, TechCrunch’s running attempt to make venture capital cool, despite the best efforts of the industry in question to fight back. Each week Katie Roof, Matthew Lynley, and myself — Alex Wilhelm — try to de-obfuscate the opaque and arcane world of startup finance with the help of someone from the ...
  • Original Tech helps banks offer better loan applications  Americans apply for more than 250 million new financial products each year, but the majority of those applications are completed on paper or over the phone. A startup called Original Tech wants to change that by providing white-label software to improve loan applications completed online. Read More Share this:Click to email this to a friend (Opens in new ...
  • Andrew Ng is raising a $150M AI Fund  We knew that Andrew Ng had more than just a series of deep learning courses up his sleeve when he announced the first phase of his deeplearning.ai last week. It’s clear now that the turn of Ng’s three part act is a $150 million venture capital fund targeting AI investments. Ng, who formerly founded Google’s ...
  • The US Government must work with tech companies if it wants to remain competitive in AI  U.S. Secretary of Defense James Mattis is concluding his tech tour of the West Coast today with a visit to Google’s Mountain View campus. Mattis spent time at Amazon and the Defense Innovation Unit Experimental, earlier in the week. His key takeaway from all the socializing with tech leaders is that the Department of Defense needs to ...
  • Snap founders won’t sell shares despite plummeting price  Snap has an awful Q2 earnings report… but at least its dancing AR hot dog was viewed 1.5 billion times. To prove their confidence, co-founders Evan Spiegel and Bobby Murphy have agreed not to sell any shares this year, and the company will withhold shares they’re owed to pay for any necessary taxes. Of course, ...
  • PayPal to acquire Swift Financial to bolster small business lending  Global payments processing company PayPal announced this morning that it has agreed to acquire Swift Financial, which provides small business owners with working capital. Terms of the deal were not disclosed, but the acquisition will give PayPal … Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • Blue Apron is having a really bad day  Things are not going so well for Blue Apron this morning after reporting its second-quarter earnings (its first earnings report ever), and the stock is crashing as a result of it. The company’s stock is down more than 14% on the earnings report, which came in pretty mixed compared to what Wall Street wanted. Blue ...
  • Blue Apron sees some signs of life as it pulls back its marketing engine  Amid the ever-present specter of Amazon, Blue Apron reported its second-quarter earnings today — where it showed a mixed performance for Wall Street, but also some small much-needed improvements in certain metrics. The biggest drag on the company was that it said it was paring back its marketing expenses between the first and second quarter, ...
  • Cash App – Send and Receive Money – Square, Inc. Pay your friends instantly, and cash out to your bank for FREE! Standard deposits show up the very next business day. You can also spend directly from the app with a free Visa debit card that can be delivered to your door. SAFE TO USE Protect payments with Touch ID or a passcode INSTANT DEPOSITS Optionally cash out to ...
  • A look back in IPO: Microsoft, the software success  We’re taking a look at the IPOs of tech’s biggest players—firms we call the Big 5. We started with Amazon and Google. Today, we’re taking a look at Microsoft.  Microsoft went public in 1986 for $21 per share, a price that was both higher than what many expected it to command, and a figure that was reportedly higher than Bill ...
  • Lambda School aims to cash in by upskilling untapped talent  As the saying goes, the future is already here — it’s just not very evenly distributed. Also not evenly distributed: Access to the expensive education typically needed to stand a chance of obtaining one of the jobs of the future. Y Combinator backed Lambda School is hoping to change this, with a new approach to funding ...
  • Venmo rolls out QR codes for user profiles in its mobile app  Venmo today rolled out a feature designed to make it easier to find friends within its mobile payments app, so you can add them to your connections list or get paid yourself. The feature, found under the new menu option “Scan Code,” is available now in both the iOS and Android version of the Venmo ...
  • Snap’s earnings this week will once again test its place in the advertising universe  Snap will report its second earnings report this week, which will once again look to answer the question: is there room on the advertising spectrum for Snap? The answer during its last earnings report (its first as a public company) was a resounding to be determined. The company’s stock has been hammered in the past several ...
  • How Apple could become a $1 trillion company  Apple reported its earnings this week, and with a surprisingly positive report the shares spiked again as Apple signaled a potential huge iPhone release. With that jump, Apple’s market cap is now over $800 billion. This year alone, shares of Apple are up almost 35%. If Apple’s promise plays out — or exceeds — what ...
  • Bitcoin breaks $3,000 to reach new all-time high  Bitcoin has reached a record high valuation of $3,000 per coin to complete a rollercoaster week that begin with the long-awaited split of the cryptocurrency. A number of exchanges, including popular destinations Coinbase and Kraken, valued a single bitcoin at over $3,000, an all-time high that is up $485 on the valuation one month ago. Earlier ...
  • Etsy lives to fight another day as new leadership shaves costs and delivers an earnings beat  Etsy went ahead and DIYed its Q2 2017 earnings report this afternoon and fortunately things turned out fairly well for the company. Etsy announced revenue of $101.69 million with earnings per share of 10 cents. The finance gods prognosticated revenue of $101.14 million and a loss of $0.01 per share, making this quarter a slight ...
  • Yelp is selling Eat24 to GrubHub for $287.5M and the stock is skyrocketing  Two huge pieces of news today from Yelp, the company that shows up first in your Google search for a restaurant: first, GrubHub is acquiring food delivery service Eat24 from the company in a big partnership for $287.5 million; second, the company reported its second-quarter earnings… and they look pretty good. Read More Share this:Click to ...
  • From barter to blockchain: A history of money  The Big Bang brought the universe into existence 13.7 billion years ago. Life first appeared on our planet 3.8 billion years ago. Earth witnessed a hominid species, Home erectus, walking upright for the first time 1.9 million years ago. And, 7,000 years ago, money was invented. Read More Share this:Click to email this to a friend (Opens ...
  • Long-time Sequoia Asia partner Yinglan Tan has left to start his own VC firm  Yinglan Tan, a long-time Sequoia venture partner based out of Singapore, has left the firm following a seven-year stint and is now launching his own fund. Both Tan and Sequoia confirmed that he departed earlier this year. Tan, who joined Sequoia in 2012 from Singapore’s National Research Fund and is the author of two books on ...
  • WTF is bitcoin cash and is it worth anything?  Early yesterday morning bitcoin’s blockchain forked — meaning a separate cryptocurrency was created called bitcoin cash. Right now, bitcoin cash is actually worth quite a bit — on paper at least. Some are trading it at around a value of $400 per coin, which makes it the fourth-largest cryptocurrency by market cap right now. Read ...
  • Tesla’s Model 3 launch may end up giving the Model S a nice bump  Tesla appears to still be getting a lot of interest in the Model S, and in the company’s earnings report today it said there was a further increase in net Model S orders since the Model 3 handover event, though it said it was “too early to draw strong conclusions.” Read More Share this:Click to email ...
  • Square continues its stellar stock market run  Square, the payments processing company founded by Jack Dorsey, reported its second quarter earnings after the bell on Wednesday. After beating expectations, the stock quickly went up 4% in initial after hours trading. Square reported revenue of $552 million, when analysts were forecasting $536 million. It’s also up 26% from the same period last year. The company ...
  • Paytm, India’s top digital payment firm, plans to rival WhatsApp with messaging and games  WhatsApp is about to get an unlikely competitor in India, its largest global market based on users. That’s because Paytm, the $8 billion-valued company behind the country’s top digital wallet, is in the process of expanding its services into person-to-person communication, games and other mobile content. The planned update, which was first reported by the ...
  • Apple Watch sales up over 50% since last year  Apple Watch sales are up more than 50 percent since last year, according to Apple CEO Tim Cook. He mentioned this when discussing Apple’s strong third-quarter results on the investor call Tuesday. Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share ...
  • Here’s Tim Cook’s explanation on why some VPN apps were pulled in China  Last weekend Apple removed all major VPN apps from the App Store in China. In a statement the next day provided to TechCrunch, it explained that China requires all VPN developers to have a license issued by the government, and they’ve been required to remove some VPN apps in China that don’t meet the new ...
  • Apple hits an all-time high and is seemingly in striking distance of being a $1 trillion company  Apple had a semi-blowout quarter, sending the stock to an all-time high. The big jump means Apple is now a company worth more than $800 billion. It seemed not too long ago that Google might have a fair shot at being a bigger company than Apple wh… Share this:Click to email this to a friend (Opens ...
  • Apple sees a big jump in iPad unit sales  Apple’s third-quarter earnings are out and the company was quick to highlight its solid iPhone sales and burgeoning services segment. The big surprise, however, was the 15 percent year-over-year increase in iPad unit sales, which seems to contradict the dominating narrative that the company’s iPad segment was losing steam due to lengthier upgrade cycles. Read ...
  • Apple iPad sales grow year-over-year for the first time since 2013 This time of year isn’t usually great for Apple’s hardware sales, but the company’s newly released Q3 earnings has at least one pleasant surprise. In addition to raking in $45.4 billion in revenue over the past three months, Apple also said it sold 4… Share this:Click to email this to a friend (Opens in new window)Click ...
  • Apple is signaling a huge fourth quarter and Wall Street is loving it  Apple set its expectations for the fourth quarter above what Wall Street was looking for today in its earnings report — just in time for a huge iPhone launch coming up soon. Apple said it expected to generate between $49-52 billion in Q4. The midpoint of that falls above what Wall Street expected, and it alludes ...
  • Singapore, like the US, says it may regulate some ICOs  Less than a week after the SEC said that it may regulate certain crypto token sales, better known as ICOs, Singapore has followed suit to say it too will regulate offerings that are deemed to be securities. Already a global financial hub, Singapore has developed into a destination of sorts for ICOs, with the likes of ...
  • Facebook buys Ozlo to boost its conversational AI efforts  Facebook has gone ahead and purchased Charles Jolley’s conversational AI startup Ozlo. Jolley, formerly Head of Platform for Android at Facebook, will not be returning to the company. The Ozlo team is expected to join Facebook to work on natural language processing challenges. Ozlo launched with a consumer facing app back in October 2016. Jolley told me at ...
  • SAIF Partners closes new $350M fund for India’s resurgent tech startup scene  SAIF Partners, one of India’s most active tech investment firms, has returned with a new fund of $350 million, its sixth to date. Unlike other firms, SAIF opted to keep its newest fund at the same size as its previous one because it allows it to be selective on deals, a number of partners told ...
  • PayPal co-founder Luke Nosek leaving Founders Fund, reportedly for SpaceX-focused fund  Founders Fund just lost one of its founders. Luke Nosek, known for starting PayPal with Elon Musk, Peter Thiel, Max Levchin and Ken Howery, is off to start something new. Known as a member of the “PayPal Mafia,” Nosek has stayed in contact with Musk as a director of SpaceX, the space exploration company. As Axios ...
  • It looks like Amazon would be losing a lot of money if not for AWS  Amazon reported its second-quarter earnings today, and it was a bit of a whiff — and a bummer for Jeff Bezos, who is now no longer the solar system’s richest human and has been relegated to the unfortunate position of second-richest human. Read More Share this:Click to email this to a friend (Opens in new window)Click ...
  • Jeff Bezos’ brief stint as world’s richest human ends with Amazon’s second-quarter whiff  Amazon reported its earnings today, wherein a whiff in earnings sent the stock down around 3 percent and brought CEO Jeff Bezos back to reality as the, once again, second-richest human in the known solar system. In all seriousness though, the com… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • Intel beats earnings expectations as it manages to maintain growth in its Data Center Group  Intel declared $14.8 billion in revenue this afternoon and earnings per share of 72 cents. This represents a solid beat as analysts had expected revenues of $14.41 billion and EPS of 68 cents. The company’s  stock finished up 22 cents and 0.63 percent to $34.97 per share in regular trading. In the moments after the ...
  • We probably still need some more numbers for this Very Important Twitter Chart  I’m reviewing the transcript in my notes of Twitter’s second-quarter earnings call — which definitely did not go well, with the stock crashing more than 10% — and it seems like Twitter is beating the drum very hard on its daily active user growth. The company is regularly referring to double-digit growth in its DAU ...
  • Slack is raising a $250 million round at $5 billion valuation  Enterprise messaging service Slack is raising a $250 million round at a $5 billion valuation, TechCrunch has confirmed. We’re hearing that SoftBank, Accel Partners and other existing investors participated. The $250 million financing amount was reported by Bloomberg. Axios first had the names of the lead investors. Recode originally reported on a $500 million round last ...
  • A running list of every company backed by the $93B SoftBank Vision Fund  When SoftBank announced the first close of its $93 billion Vision Fund back in May it was hard to understand how the company would even manage to deploy so much capital in an already saturated ecosystem. Two months have passed and we’re starting to get a taste of the strategy of the fund — bet ...
  • Visa makes strategic investment in card processing startup Marqeta  Since 2010, Marqeta has quietly established itself as the underlying tech provider for businesses that are looking to issue virtual and physical debit and credit cards to employees, partners and customers alike. As it looks to expand internationally and sign up customers around the globe, the company has taken $25 million in strategic investment from payments heavyweight ...
  • SEC regulators are coming after ICOs  It looks like ICOs, shorthand for initial coin offerings, are about to undergo a lot more scrutiny. The SEC has concluded that the digital currency financing events will be regulated as securities, meaning unregistered offerings could be subject to criminal punishment. The decision was announced on Tuesday. To reach its findings, regulators evaluated an offering facilitated by “The… ...
  • Fintech startup Klarna taps Permira for around $250M at $2.5B valuation  Klarna, the Swedish startup that works with e-commerce businesses and retailers to provide financing and other payment services, today announced that it has picked up yet another large investment, its third inside of two months. Permira, the priv… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • EBay shares sink after posting financial results  EBay shares were down about 4 percent in initial after-hours trading, after posting second-quarter financial results. But in terms of revenue and earnings per share, the company’s results were in line with expectations. Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to ...
  • PayPal taps into your Chase and Citibank accounts Paypal-owned mobile payment app Venmo opened up third-party app support last year in an attempt to capture more money via more merchant transactions, including those from Poshmark, Parking Panda, and Delivery.com. The service has a competitor,… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click ...
  • Mobile savings and investment service Acorns is on track to do 1 billion trades in 2017  Acorns is quickly turning into an oak tree in the financial services space. The company now boasts more than 2 million investment accounts (with 600,000 opened in 2017 alone) and is on track to do 1 billion trades in 2017 through the proprietary … Share this:Click to email this to a friend (Opens in new window)Click ...
  • Amazon Pay Places lets you pay for real-world shopping using your Amazon info, starting with TGI Friday’s orders  Amazon is today introducing a new feature called Amazon Pay Places, that allows customers to pay for in-store and order ahead shopping experiences using their Amazon app. That is, instead of using cash, check, credit or debit while shopping out i… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • UK’s digital-only Starling Bank adds Apple Pay support  Digital-only UK “challenger” bank, Starling Bank, has added support for Apple Pay — meaning its customers can now add their Starling debit card to their Apple Wallet and make contactless payments drawing from funds in their Starling account via their Apple devices. Read More Share this:Click to email this to a friend (Opens in new window)Click ...
  • Taavet Hinrikus hands over CEO reins at TransferWise to cofounder Kristo Kaarmann  A changing of the guard at TransferWise, the unicorn startup based out of London that specialises in providing money-transfer services, typically with better rates than banks and other incumbent providers. The company’s CEO and co-founder Taavet Hinrikus announced that he is stepping down and staying on in a part-time role as chairman and board member. ...
  • Beginning this week, automated savings app Digit will start charging users $3 a month  In April, Digit announced that in 100 days it would begin charging $2.99 a month to people using its service to automatically save for a rainy day or help pay their bills. Well, 100 days have almost passed, and it’s almost time for those changes to go into effect. Read More Share this:Click to email this ...
  • Square Cash – Send and Receive Money – Square, Inc. Pay your friends instantly, and cash out to your bank for FREE! Standard deposits show up the very next business day. You can also spend directly from the app with a free Visa debit card that can be delivered to your door. SAFE TO USE Protect payments with Touch ID or a passcode INSTANT DEPOSITS Optionally cash out to ...
  • Jefferies gives IBM Watson a Wall Street reality check  IBM’s Watson unit is receiving heat today in the form of a scathing equity research report from Jefferies’ James Kisner. The group believes that IBM’s investment into Watson will struggle to return value to shareholders. In recent years, IBM has increasingly leaned on Watson as one of its core growth units — a unit that sits ...
  • Cover raises $8 million to insure your belongings  Applying for homeowner’s insurance should be as easy as waving your phone camera around your room. That’s the premise behind Cover, an app that recommends insurance based on what’s photographed in your home. Whether it’s electronics, jewelry or even your pet, Cover will cover just about anything. Read More Share this:Click to email this to a ...
  • Revolut raises $66 million for its global banking alternative  Revolut has raised a $66 million Series B round with Index Ventures leading the round, and existing investors Balderton Capital and Ribbit Capital also participating. The startup will also run another $5 million crowdfunding campaign in a few wee… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Anna Patterson talks Gradient Ventures, Google’s new AI fund  It’s been pretty obvious for a few months now, but Google has finally admitted that it’s running its own investment fund targeting machine intelligence startups. The fund will go by the name Gradient Ventures and provide capital, resources and education to AI-first startups. Google isn’t disclosing the size of the fund, but the company told ...
  • Twitter’s new CFO is getting $15 million in stock  Twitter has announced that it’s hired a new CFO. Ned Segal is joining the company from Intuit, where he was senior vice president of finance. He also has investment banking experience, having spent 16 years at Goldman Sachs. This could come in handy if Twitter decides to sell themselves. (Just saying!) Read More Share this:Click to ...
  • Toyota launches venture capital fund targeting artificial intelligence startups  Toyota is the latest Fortune 500 company to launch an AI focused venture capital fund. The initial early-stage fund will deploy $100 million and operate as a subsidiary of the Toyota Research Institute. The automaker has strategiclly positioned itself as an ROI rather than strategic focused fund — meaning that it aims to profit like any other ...
  • The Lemonade insurance social experiment results in $53K donation in year one  Lemonade has raised $60 million to date with the thesis that insurance companies can cut costs and automate more of their processes if they can somehow incentivize users to act less selfishly and commit less fraud. Traditionally insurance companies take the spread between premiums and claims as profit, but Lemonade aims to donate unclaimed premiums ...
  • Elon Musk buys his old X.com domain from PayPal The most famous single-letter domain owner is without a doubt Elon Musk, whose company X.com eventually became PayPal. Unfortunately, when Musk was pushed out, the domain (with its aught-tastic logo, above) stayed behind with PayPal. However, … Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • Snap falls below its IPO price for the first time  Oh Snap. The Snapchat parent had a difficult day on the stock market, closing at $16.99. It’s officially fallen below its $17 IPO price for the first time. This is significant because it means that overall, public investors have lost money on the company since its March IPO. A money-losing reputation can be hard to recover from. But ...
  • CompareAsiaGroup scores $50M from investors including IFC, Alibaba and Goldman Sachs  CompareAsiaGroup, which runs online financial marketplaces in seven Asian countries, has closed a $50 million Series B. The round was led by the International Finance Corporation (IFC), a member of the World Bank Group, and includes capital from new investors Alibaba, SBI Group, and H&Q Utrust. Returning investors also participated. Read More Share this:Click to email ...