Finance

  • 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 ...
  • Venture capital association slams Trump Administration’s delay of the International Entrepreneur Rule  Venture capital’s national association has come out swinging against the Trump administration’s decision to delay the International Entrepreneur Rule. A product of the final days of President Obama’s administration, the rule was designed to let talented immigrant entrepreneurs stay in the U.S. to build their companies. The two-and-a-half year period that immigrants would have… Read ...
  • Omise acquires online payment business Paysbuy from Thai operator Dtac  It isn’t often that you see startups buying chunks of large corporates, but that’s what has happened in Thailand this week. Following the closure of its $25 million ICO token sale yesterday, Asian fintech startup Omise has bulked up its core payment business after it acquired Paysbuy from Thailand-based mobile operator Dtac. The deal will ...
  • Blue Apron falls 9% on fourth day as a public company  Blue Apron sends you the ingredients to help you cook delicious meals, but some investors are considering its shares unsavory. The meal kit delivery company, which went public on the New York Stock Exchange last week, has had a rough debut on the stock market. After significantly lowering its IPO price range, the company priced its IPO ...
  • Honest financing as a path to economic mobility and social justice  Societal health can be assessed by a handful of factors: economic mobility (is the current generation earning more than their parents did?), upward mobility (the rate of which an individual can improve their own socioeconomic status), productivity (how efficiently one can earn income) and lastly, whether they have sufficient access to the resources and tools ...
  • Will Blue Apron’s rebound continue?  Cooking kit delivery company Blue Apron traded up 3.5% on the stock market Monday, erasing some of the losses from its first two days as a public company. Shares closed at $9.67, which was still beneath last week’s $10 IPO price. This is in contrast to a lot of public debuts, where companies are typically ...
  • Worldpay, valued at $10B, confirms JPMorgan and Vantiv are trying to buy it  Some consolidation is underway in the world of payment processing: Worldpay — the giant company that says it processes 31 million mobile, online and in-store transactions daily and competes against the likes of PayPal, Stripe, Square and more in payment processing — is on the block. Today Worldpay confirmed in a statement to the London Stock ...
  • Cross-border payment startup InstaRem eyes IPO in 2020 after closing $13M Series B  Cross-border payment startup InstaRem has raised $13 million in new financing as it looks to expand its business, which is rooted in Asia, into Europe and North America ahead of an eventual public listing as soon as 2020. The Singapore-based startup said the raise was led by China’s GSR Ventures, an early investor in Didi among others, ...
  • UK’s Tide raises $14M to challenge big banks with a mobile-first service for SMBs  Europe has seen a large wave of startup banks pop up in the last few years — businesses like N26, Atom and Monzo that are taking on the big incumbents by creating faster and cheaper services for a new class of consumers as they grow up and enter the working world. Now a startup has ...
  • Curve now lets you ‘go back in time’ and switch the card you paid with retroactively  Curve, the mobile wallet and all-your-cards-in-one app, is rolling out a nifty new feature today that lets you retroactively switch the card you used to pay. 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 ...
  • How this year’s tech IPOs have fared so far  Blue Apron has finally gone public, and we’re at about the halfway point of the year. We’ve seen a lot of IPOs for the first half of 2017, which followed a huge drought last year. All this started when Snap opened up the so-called “IPO window” when it made its debut with a bang, popping the ...
  • Real estate site Redfin files for IPO  Redfin, the popular real estate listings site, has filed for IPO. The Seattle-based company unveiled its filing, suggesting that it will raise $100 million, a placeholder that is subject to change. The timing of the filing implies that Redfin is … Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Google.org, BlackRock and others commit $2.2 million to Fast Forward’s nonprofit tech accelerator  As impact investing gains traction in the market, a new accelerator for tech nonprofits called Fast Forward has raised $2.2 million in philanthropic funding from the nonprofit arms of some of the world’s largest companies and financial services firms. BlackRock, Google.org, Comcast NBCUniversal, and AT&T joined Zendesk, Twilio.org, Hewlett Packard Enterprise, the Nasiri and Rita… Read More Share ...
  • Tintri up slightly after lowering IPO price  Enterprise cloud company Tintri was supposed to debut on the public markets yesterday with an IPO price between $10.50 to $12.50, but then pushed things back a day and lowered its price to $7. Shares were up about 3.5% midday Friday, trading at r… Share this:Click to email this to a friend (Opens in new window)Click ...
  • Blue Apron tumbles again in its second day as its IPO settles for a down round  Blue Apron is now down from its IPO price during trading today, falling around 4 percent to around $9.60 — a bit south of its original price. 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 ...
  • As the LA venture market booms, Upfront closes its sixth fund with $400 million  As the firm looks ahead to its own future, Suster and the firm he’s helped grow remain committed to the future of Los Angeles. The two are paired and these days if an investor is #LongLA (to use the hashtag the firm coined), it looks like limited partners are saying that it pays to be ...
  • Blue Apron IPO off to a rough start  Meal delivery business Blue Apron opened for trading at $10 per share on Thursday, significantly below the originally proposed range of $15 to $17. It’s also flat compared to the $10 they priced it at last night, meaning the IPO investors have yet to reap any gains. It also means that employees and investors who joined ...
  • A look back at Amazon’s 1997 IPO  Amid tech’s current rally, Seattle is enjoying the updraft. Amazon, one of the area’s two critical tech companies, is busy setting records. Shares of Amazon, the e-commerce and cloud computing leader, have busily risen, recently cresting the $1,000 per-share mark. That per-share price is up from Amazon’s 52-week low of $682 and change. Driving that valuation is continued… Read ...
  • Medical bill advocacy startup Better pledges all of its revenue towards relieving medical debt  Put aside whatever shred of healthcare decency the Senate happens to be ripping out at the moment and take a look at Better, a startup helping people deal with out-of-network medical bills. The startup has just pledged 100 percent of its revenue towards relieving those stuck in serious medical debt — at least until this fall. ...
  • There’s a war brewing in Japan, and the banks should pay attention  People often use the term “time machine model” in Japan. It refers to the lag with Silicon Valley when it comes to startups and innovation. When a time machine model gains momentum locally, usually it means war. The most notable recent example of this is the war of the news apps. Now there is a ...
  • Credit Karma touts $500 million in revenues  It turns out that you can make a lot of money by giving stuff away for free. That’s the lesson from Credit Karma, which today is announcing that it’s running its business profitably after earning $500 million in revenues last year. Read More Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Binary Capital co-founder Justin Caldbeck quits as Matt Mazzeo steps away from the firm  Justin Caldbeck, the co-founder of Binary Capital, and Matt Mazzeo, the firm’s newest partner, have both resigned from the venture firm, according to a statement from the firm’s remaining co-founder Jonathan Teo. The statement confirms reporting earlier in the evening on Sunday from Axios and comes as the investment firm struggles to remove the stain ...
  • 5 burning questions Blue Apron’s IPO is about to answer  Blue Apron will be going public in short order, kicking off the second big major consumer IPO of 2017. It’s nowhere near as big as Snap, but the company at the top end of its IPO pricing will be valued at around $3.2 billion as it looks to raise nearly $600 million. The company’s IPO ...
  • Sean Parker has left Spotify’s board; Padmasree Warrior, Thomas Staggs join in lead up to IPO  As Spotify inches its way to a public listing, the streaming music company — which now has 140 million users — has made some significant changes to its board of directors. Sean Parker, the early supporter and investor who once founded digital music service Napster and helped usher Facebook into the world, has left Spotify’s ...
  • Soldo, a London fintech startup that offers a multi-user spending account, raises $11M led by Accel  Soldo, the London-based fintech startup that offers a multi-user spending account, first launched for consumers and since tailored to businesses too, has raised $11 million in Series A funding. 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 ...
  • Final: One credit card account to rule them all  A startup called Final wants to change the way people use credit cards — or rather, the company wants to change the credit card industry to fit consumers’ lifestyles. With a 1% cash-back bonus and no annual fee, Final offers a competitive credit card product, but it really excels in the flexibility it provides in the ...
  • Global risk analysis gets an artificial intelligence upgrade with GeoQuant  The global risk analysis used by big banks, hedge funds, and governments to inform their decision-making around everything from foreign currency investment to foreign aid is getting the machine learning treatment with the launch of the new startup GeoQuant.  Read More Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Klarna gets a full banking license, gears up to go beyond financing payments  After Anders Holch Povlsen and his firm Brightfolk bought up a stake of at least $225 million in Klarna earlier this month, today the profitable Swedish payments startup, now valued at over $2.25 billion, is stepping up its game. Klarna has announced that it has picked up a full banking license from Finansinspektionen, the Swedish Financial Supervisory ...
  • Will Amazon become a force in fintech?  Amazon is the tech giant most likely to become a dominant player in fintech, predicted James Lloyd, Ernst & Young’s fintech leader, when speaking on stage at TechCrunch and TechNode’s event in Shenzhen, China on Monday. Lloyd told TechCrunch that he expects Amazon to expand further into payments, lending and credit scoring. “They’ll get into ...
  • Snap taps its IPO price as it continues to crash  Update: It happened! Snap fell down to its IPO price (for a few seconds) of $17 per share after its continued steady march south over the past several weeks. The company is now barely holding just above its IPO price. Snap’s last earnings report resulted in a disaster, and while the company still managed to stay ...
  • India’s MobiKwik is raising new funding at $1B valuation to battle payment rival Paytm  With high-profile investments from Alibaba and SoftBank fueling an impressive growth story since demonetization last year, you could be forgiven for thinking that Paytm has India’s payments market sewn up. But at least one company will agree to differ on that. MobiKwik, the mobile payments startup that is number two to Paytm in India, is ...
  • There’s another small tech IPO and we’re really just waiting for Blue Apron  We have another filing for a tech IPO today, this one from a company called CompuLab coming in amid a continued flurry of IPOs.  But, really, the story here is just that — it’s just another small tech IPO amid a flurry of filings. Snap started off the year with a bang, rattling off a highly ...
  • Tech stocks tanked for the second straight day  It’s been a bad few days for tech stocks. The FANG stocks, a moniker used to collectively describe Facebook, Amazon, Netflix and Google (now Alphabet) have had a rough two days on Wall Street. And even though Apple isn’t included in the original FANG group (which was designed to describe a grouping of high-risk but ...
  • Equity podcast: Pinterest’s path to IPO, and Snap tries to buy a future  Hello and welcome back to Equity, TechCrunch’s weekly podcast focused on the world of venture capital. The crew, Katie Roof, Matthew Lynley and I — Alex Wilhelm — were joined by none other than Indy Guha from Bain Capital Ventures. Indy has worked in the venture world for some time, but has taken time off from investing to work ...
  • Addepar raises $140 million so more of the ultra rich can know exactly what they’re doing with their money  Addepar, the provider of data collection and monitoring services for the financial industry (it’s Palantir’s somewhat less ethically compromised cousin), has raised a whopping $140 million in its latest round of funding. The company’s financing, which likely makes it a unicorn if it wasn’t already (company chief executive Eric Poirier refused to comment on the… ...
  • What the hell is happening to cryptocurrency valuations?  The total market cap for all cryptocurrencies just surpassed $100 billion. The vast majority of these gains have come in just the last few months — on April 1st the total market cap was just over $25 billion — representing a 300 percent increase in value in just over 60 days. Read More Share this:Click to email ...
  • Thailand’s Kasikorn Bank launches $30M ‘Beacon’ fund for fintech  Roll up, roll up, there’s a new fintech VC fund in Southeast Asia town. Today, Thailand-based Kasikorn Bank announced its inaugural tech fund which is 1 billion THB, just shy of $30 million, in size. Kasikorn, which was founded in 1945 and is one of Thailand’s major banks, is calling the fund Beacon — think ...
  • Honk white labels its roadside assistance service to Farmers in massive deal  HONK, the Los Angeles-based startup providing roadside assistance services through a mobile app, is partnering with the massive insurer Farmers Insurance Group to white label its technology. People with knowledge of the deal said it could be worth over $150 million to Honk, as it eyes an international rollout, but chief executive Corey Brundage and president ...
  • Delivery Hero announces plan for a $500M IPO in Germany  Delivery Hero’s much-anticipated IPO is on. Today the European food delivery company officially announced that it plans to raise as much as €450 million ($506 million) from a public listing on the Frankfurt Stock Exchange in “the coming months”. It’s been a busy past year or so for Delivery Hero, and when you look back on its ...
  • Meal ingredient delivery service Blue Apron is the next big consumer IPO  Blue Apron, which delivers ingredients to cook meals in your home and was among the companies whispered to go public this year, has now filed to go public. Amidst an array of enterprise companies that have jumped on the IPO bandwagon following Snap’s successful IPO (aside from its more recent whiff of an earnings report), ...
  • Yext passes its first test as a publicly traded company  Yext’s first earnings report as a publicly traded company seems to be a boringly pleasant one — but that’s a good thing for a company that needs to show strong performance out of the gate. Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • The best Meeker 2017 Internet Trends slides and what they mean  Here are the must-read stats about what’s happening with internet adoption, smartphones, ads, e-commerce, entertainment, gaming, enterprise healthcare, China, India and startups. We’ve picked the most important slides from legendary Kleiner Perkins partner Mary Meeker’s massive 355-page 2017 Internet Trends report, deciphered the complex data and explained why… Read More Share this:Click to email this to a ...
  • How to price your IPO  If pops are hard to vet, and IPO pricing remains an art-science hybrid, what measuring stick can we use to decide when an IPO did well, versus gains so steep that it probably could have raised a bit more in its flotation? Read More Share this:Click to email this to a friend (Opens in new window)Click ...
  • Omise to raise $19M in first cryptocurrency sale from a major VC-backed startup  The tech industry is opening its eyes to the possibilities of raising money using cryptocurrencies like bitcoin and Ethereum through ‘initial coin offerings,’ and it’s about to see the first ICO from a major venture-backed company. Last week, Kik, a messaging app popular with young people in North America, announced an ambitious plan to launch its own currency ...
  • Epic! raises $8 million to keep kids reading in a digital age  The makers of Epic!, one of many apps jockeying to become a “Netflix for books,” have raised $8 million in a round led by Reach Capital, the education-specialized venture firm. Epic! at its core is an on-demand digital library that includes about 25,000 different books and videos appropriate for kids in elementary school, or between ...
  • Insurance startup Quilt adds life insurance to its portfolio of products  The startup insurance application processor Quilt has added a life insurance product to its portfolio and has begun pitching its digital enrollment in 37 states across the country. In partnership with Generation Life (a 50-year-old insurance company that was recently acquired by Swiss Re), Quilt is looking to make the process of applying for life insurance easier ...
  • MoneyLion’s redesigned app gives personalized financial advice and instant access to personal loans  Personal finance management app MoneyLion was created to help users save money, reduce debt and improve their credit. Today the app is being updated to provide users with more personalized information about how they can improve their financial he… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Equity podcast: The largest tech fund in history, and where are the IPOs?  Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where each week we tell jokes about other people’s money. This week, Katie Roof, Matthew Lynley and I — Alex Wilhelm — were joined by Rick Kline, a partner at Goodwin. Kline is a lawyer focused on “M&A transactions capital markets transactions,” according to his… Read More Share this:Click to email ...
  • Payment firm Soft Space raises $5M to expand in Southeast Asia and Japan  Soft Space, a payment provider in Southeast Asia, has close its $5 million Series A as it looks to expand across the region, and potentially into Japan. Kuala Lumpur, Malaysia-based Soft Space works with large enterprise customers, typically banks, to offer customized solutions for mobile payment, both at point-of-sale and other parts of the process. Typically these solutions ...
  • Funding for real estate challenger Spruce shows New York’s startup scene is thriving  Spruce, a new startup looking to speed up the mortgage, has raised $4.5 million in its series A financing from Bessemer Venture Partners, Omidyar Network, and Third Prime Capital along with a slew of private angel investors. Founded by two former employees of the robo-advisory wealth management company Betterment, the new startup is notable for ...
  • Even the world’s largest bitcoin exchange couldn’t handle this week’s cryptocurrency boom  For those operating a bitcoin exchange — where people can buy cryptocoins — you’d imagine that the current surge in value for bitcoin and others like Ethereum’s ether coin is a dream come true. The answer is yes and no. Coinbase, the world’s most funded bitcoin exchange, was dragged offline by the massive increase in interest in the space. Users ...
  • SoFi co-founder Dan Macklin is leaving the company  Another one of the co-founders of online lending startup SoFi is leaving the company, TechCrunch has learned. Dan Macklin, who served as VP of Community and Member Success at SoFi, has announced internally that he’ll be stepping down from his position on June 6th. Read More Share this:Click to email this to a friend (Opens in ...
  • A major investment company is taking bitcoin very seriously Many predicted that the world would soon lose interest in bitcoin. Yet, eight years after its inception, its surprisingly robust Blockchain tech and prominence on the darkweb has led to the cryptocurrency trading at an all time high. This succ… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Chat app Kik takes on Facebook with developer ecosystem built on the blockchain  There’s been much talk of ICOs — initial coin offerings — amid the rising value of bitcoin and other cryptocurrencies like Ethereum. Now the industry is about to see its first ‘big name’ move into the space after Kik announced plans to introduce its own cryptocurrency via a token sale. Messaging app Kik is particular popular among ...
  • Wealthfront now helps users save up for their kids’ college tuition  Robo-advisor Wealthfront originally came to market with a product to automate retirement savings, but over time has expanded to provide other financial tools. Today, the company is announcing a new product aimed at helping parents save for their children’s college education. Read More Share this:Click to email this to a friend (Opens in new window)Click to ...
  • How to stage an ICO (and other lingering questions you might like answered)  Over the last month, it’s been hard to miss talk in the media and on social channels about initial coin offerings, or ICOs. What are they? Where did they suddenly come from? Who’s investing in them? When the popular investing platform AngelList announced on Monday that it’s jumping into the business of making ICOs easier to coordinate, ...
  • Merlon Intelligence raises $7.65 million in seed financing to combat money laundering  Flightcaster, Prismatic and now Merlon Intelligence. Bradford Cross, founder of the venture capital firm Data Collective is a known figure in the ranks of VCs who have caught the entrepreneurship bug, abandoning what could have been a cushy lifestyle for one with considerably more volatility. His third startup, Merlon Intelligence, services banks, helping them cut down on risk and ...
  • Blispay raises $12 million to help retail customers avoid payments for 6 months  If you’re looking to buy something, but don’t want to pay for it yet, Blispay thinks it has the solution for you. The startup works with small and mid-sized businesses to help retail customers defer payments for six months. Baltimore-based Blispay has been gaining traction and raised an additional $12 million in funding after raising ...
  • Apple Pay now supports higher value transactions at most UK contactless tills  If the UK’s £30 contactless payment limit was holding back greater adoption of Apple’s biometric contactless payment tech, Apple Pay, the company should expect to see uplift in usage as it believes that a majority of UK contactless POS now supports limitless transactions. Read More Share this:Click to email this to a friend (Opens in new ...
  • SoftBank’s massive Vision Fund raises $93 billion in its first close  SoftBank’s huge $100 billion investment fund — the largest tech fund in history — announced its first close today… and it’s huge. The Japanese telecom giant revealed that its VisionFund has closed an initial commitment of $93 billion from a bevy of high profile backers. They include Apple, Qualcomm, UAE-based Mubadala Investment Company, Saudi Arabia’s… Read More Share this:Click to ...
  • Equity podcast: Instagram copies Snap again and Greycroft’s Ellie Wheeler on self-driving cars  Hello and welcome back to another episode of Equity, TechCrunch’s weekly podcast focusing on all things venture and capital. This week we pulled off our very first live episode, taping the session during the last day of TechCrunch Disrupt NY 2017. For our inaugural public show, Ellie Wheeler of Greycroft joined our merry band of nerds: Katie ...
  • For investors seeking a purpose-built CRM toolkit, Affinity raised $13.5 million to get you covered For the venture capitalists, hedge funders, investment bankers and private equity folks trawling the skyways looking for deals, there’s nothing more important than a strong network. But for most firms keeping track of meetings, managing follow-ups, and plotting a next move is still a pretty low-tech process (ironic considering all the CRM tools these guys ...
  • Hong Kong’s Qupital raises $2M led by Alibaba to finance invoice loans for SMES  Qupital, a one-year-old Hong Kong-based startup that addresses cash flow issues for SMEs, has closed a $2 million seed funding round. The is certainly a notable size for an early stage investment in Hong Kong’s nascent but growing startup scene. The financing was led by Hong Kong-London firm MindWorks Ventures and the $130 million Alibaba Entrepreneurs ...
  • Cadre and Point are betting that the best way to win in real estate is to disrupt the market  On the stage of TechCrunch Disrupt, the founders of two of the hottest startups in real estate, Cadre and Point articulated the inefficiencies of today’s real estate markets and expressed optimism in their ability to use innovative markets to benefit investors and homeowners respectively. Cadre is an exclusive startup that connects real estate investors to… Read More Share this:Click to email this ...
  • Apple is shoring up Siri for its next generation of intelligent devices  Siri is a critical component of Apple’s vision for the future, so integral that it was willing to spend $200 million to acquire Lattice Data over the weekend. The startup was working to transform the way businesses deal with paragraphs of text and other information that lives outside neatly structured databases. These engineers are uniquely prepared to assist Apple with building… Read More Share this:Click ...
  • CreditHero wants to help fix credit scores for those afraid to even look  With apps and services for investing and checking credit scores, it might seem like financial services are finally getting more mainstream. But people still need to have decent credit to get to the point where they’ll use those services. That’s why Nicole Sanchez and her co-founders started CreditHero, a service to help people understand their ...
  • Our favorite startups from 500 Startups’ 20th class  41 startups graced the stage at 500 Startups’ 20th demo day at the Parc55 hotel in downtown San Francisco. The event came complete with mascots, a summer of love theme and a diverse array of early-stage companies. This time around, 500 focused in heavily on health startups. A number of the founders demoing presented businesses in the interest of ...
  • Equity podcast: Where did Snap’s market cap go, and why does Josh Elman like grammar?  Welcome back to another episode of Equity, TechCrunch’s weekly podcast focused on finding the humor in money. This week, our own Katie Roof, Matthew Lynley and Alex Wilhelm, along with Greylock’s Josh Elman huddled in the SoMa studio right after a certain earnings report. We recorded a day early this week, as a full 66 percent of the core ...
  • Cisco acquires conversational AI startup MindMeld for $125 million  This morning Cisco announced that it is buying MindMeld for $125 million. Founded in 2011, MindMeld helps businesses to build conversational interfaces with cloud-based services. MindMeld, originally called Expect Labs, was launched on the stage of TechCrunch Disrupt SF 2012. At that time the startup wanted to build an iPad app that could listen in on your conversations ...
  • Snap is getting absolutely crushed after falling short of Wall Street’s expectations  Snap may have had a successful IPO, but that was pretty much wiped out after it reported its first-quarter earnings — where it completely whiffed on what Wall Street was expecting. The company said it brought in $149.6 million in revenue in the first quarter this year. It also said it lost $2.31 per share, though ...
  • N26 launches savings accounts with Raisin  N26 is launching yet another feature to build a modern retail bank for European customers. This time, the company is partnering with Raisin, a German startup also known as WeltSparen. In just a few taps, you’ll be able to open a savings account for money you don’t need. Raisin doesn’t build savings accounts itself. Instead, ...
  • Nvidia is surging after its income more than doubled year-over-year  Nvidia’s ballooning GPU business and big bets on divisions like autonomous driving continue to look better and better, with the company’s shares jumping more than 10% after it reported its first-quarter earnings. In the first quarter this year, the company said it brought in $507 million in net income — up from $208 million in ...
  • Yelp is getting eviscerated after it toned down its expectations for the year  Yelp shares are down more than 25% after the company reported its first-quarter earnings report today, where it reduced its full-year guidance that it set in the previous quarter. The company said it would bring in between $850 million and $865 million in revenue for the full fiscal year of 2017. In the fourth quarter ...
  • Sequoia-backed startup Empower aims to replace your bank’s app  Empower, a startup looking to help millennials better manage their finances, is today launching its mobile app for iOS devices. The new application combines the ability to see an overview of your day-to-day transactions and spending behavior, with other tools to transfer money between accounts, automate your savings, and soon, pay bills and pay down your debt. The ultimate ...
  • Alipay, China’s top mobile payment service, expands to the U.S.  China’s dominant mobile payment service is making its move in the U.S.. Ant Financial, the Alibaba spin-off that operates Alipay, has inked a deal with payment processor firm First Data that will allow its service to be used at point-of-sale with more than four million retail partners in the U.S.. The deal is the first of its ...
  • Grammarly raises $110 million for a better spell check  Some people really need help with grammar. To that end, Grammarly has been quietly building a freemium grammar checker to help students, writers and people who want to make a good impression on social media or email. Now they’re raising $110 million from General Catalyst, IVP and Spark Capital to take their business to the ...
  • Grammarly raises $110 million for a better spell check  Some people really need help with grammar. To that end, Grammarly has been quietly building a freemium grammar checker to help students, writers and people who want to make a good impression on social media or email. Now they’re raising $110 million from General Catalyst, IVP and Spark Capital to take their business to the ...
  • Grammarly raises $110 million for a better spell check  Some people really need help with grammar. To that end, Grammarly has been quietly building a freemium grammar checker to help students, writers and people who want to make a good impression on social media or email. Now they’re raising $110 million from General Catalyst, IVP and Spark Capital to take their business to the ...
  • Dell Technologies Capital emerges from stealth, announces over 70 investments  Most venture capital funds that have 27 exits under their belt are not in stealth. In fact, most venture capital firms today don’t even know what 27 exits looks like. But Dell Ventures, in stealth until today, has been steadily investing at a rate of about $100 million per year. The group certainly knows what the market ...
  • Dell Technologies Capital emerges from stealth, announces over 70 investments  Most venture capital funds that have 27 exits under their belt are not in stealth. In fact, most venture capital firms today don’t even know what 27 exits looks like. But Dell Ventures, in stealth until today, has been steadily investing at a rate of about $100 million per year. The group certainly knows what the market ...
  • Columbus welcomes urban problem solvers with new accelerator  Every American city wishes it could better support technology, entrepreneurship and infrastructure, unfortunately few actually have the resources to set truly ambitious goals into motion. But Columbus, Ohio, having secured $40 million in grants to improve access to transportation and ready itself for autonomous vehicles, is one city actually in a position to take risks. Its latest, a… Read ...
  • Will the tech acquisition spree continue?  The year was off to a good start for technology acquisitions, according to data provided by PwC and Thomson Reuters. There were 486 U.S. tech deals announced in the first quarter totaling $42.8 billion. In terms of both number of deals and value of deals, it was the best start of the year for U.S. ...
  • Snap’s first earnings this week will give a heat check on the new ad ecosystem  When Snap went public earlier this year, it revealed a break-neck level of growth in its nascent advertising business — and a dramatic burn rate along with it. But while it’ll be important for Snap to continue growing that business and get its costs in check, it’ll be nearly as important to convince Madison Ave. ...
  • Signifyd raises $56 million for e-commerce fraud protection  E-commerce fraud is a growing problem, but Signifyd thinks it has a solution to save businesses money. Their company is growing fast and has closed a $56 million Series C investment led by Bain Capital Ventures. Menlo Ventures and American Express also participated in the round. Signifyd counts big clients like Jet.com, Peet’s Coffee and Lacoste, ...
  • Next Insurance raises $29 million to create customized policies for small businesses  Next Insurance, a startup that wants to make it simpler for small businesses to find coverage, has raised a $29 million Series A. The round was led by Munich Re/HSB Ventures, the venture capital arm of German insurance company Munich Re. Existing… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • Facebook beats in Q1 with $8.03B revenue, faster growth to 1.94B users  Facebook had another strong quarter, beating estimates to start 2017. It scored $8.03 billion in revenue and $1.04 GAAP actual EPS in Q1 compared to $0.87 EPS estimate. It earned that from 1.94 billion users, up from 1.86 billion last quarter, growing at a faster 4.3 percent compared to 3.91 perecent last quarter. Steady Growth, Strong ...
  • Square up 7% after surpassing quarterly expectations  Square, the payments company founded and run by Jack Dorsey, released its quarterly financial results for the first quarter after the bell on Wednesday. The company beat expectations, bringing in $462 million in revenue, when investors were forec… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • Apple hits a speed bump in Q2 after its stock soared in the past year  Apple hit a little snag in the second quarter, falling slightly under what Wall Street expected in its earnings report — causing a slight drop after its stock has jumped massively in the past year. The company reported earnings of $2.10 per share on revenue of $52.9 billion. Wall street was looking for earnings of ...
  • Twilio stock plummets as major client Uber distances itself  A good report on revenue wasn’t enough to keep Twilio stock from taking a dive in after-hours trading. What at first glance appeared to be a positive story very quickly divulged into a financial nightmare. Shares in the cloud communications company have fallen 27 percent in after-hours trading. Read More Share this:Click to email this to ...
  • Airwallex raises $13M led by Tencent to bring its cross-border payment service to Europe  Australia-based cross-border payments startup Airwallex has closed a $13 million Series A round to expand its reach across Asia Pacific and into Europe. The deal was led by Chinese internet giant Tencent — marking its first investment in an Australian startup — with participation from Sequoia China, Mastercard and other undisclosed investors. Airwallex was founded last year… Read ...
  • Jack Dorsey just spent $9.5M buying more Twitter stock  Jack Dorsey is at it again — after purchasing $7 million in Twitter stock back in February, the Twitter CEO bought another $9.5 million today. After making his purchase, Dorsey posted the news on Facebook Twitter, sparking a one percent gain in the company’s after share price in after-hours trading. According to an SEC filing, Dorsey purchased 574,002 ...
  • Auto site Carvana tumbles 26% in stock market debut  Carvana, the site for buying and selling cars, had a rough first day in the public markets. After pricing its IPO at $15 per share, it ended the day down 26% at $11.10. Bankers typically recommend a price that would cause the shares to go up about 20% or so on the first day, known ...
  • Cloudera finishes up 20% in stock market debut  After pricing its IPO at $15 per share, Cloudera, the enterprise big data company, closed the day up more than 20 percent, at $18.09. This also is above the range of $12 to $14 for which Cloudera was preparing. Read More Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Deep Sentinel raises $7.4M to bring deep learning to home security  Deep Sentinel, a home security startup, today announced that it had closed a $7.4 million Series A led by Shasta Ventures with participation from Bezos Expeditions, Lux Capital and UP2398. Founded by serial entrepreneur David Selinger, Deep Sentinel is betting that its emphasis on user experience can provide needed differentiation in the crowded space. Over tea in the… Read More Share this:Click to email ...
  • Plug and Play launches a fintech accelerator in Paris  Plug and Play is launching a new accelerator based in Paris. This time, the company is partnering with French bank BNP Paribas and focusing on fintech startups. The first batch of startups has just been picked. Plug and Play has launched multiple… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • Apple stops paying royalties to Qualcomm  It’s no secret, Apple and Qualcomm have been fighting relentlessly for a few months over royalty payments. Apple told Qualcomm that it would stop paying the disputed licensing fees. Qualcomm confirmed the agressive move and said that its revenue and profits would be lower than expected. Apple said that it is waiting for a court ...
  • Bitcoin and Ether prices hit all-time high  Something is going on in the cryptocurrency world, but it’s hard to figure out why prices are jumping. Both bitcoin and Ether prices are currently trading at an all-time high. According to Coindesk’s price index, you could buy one bitcoin for $1,343 earlier today. It roughly represents a 6 percent increase in 7 days, and ...
  • Cloudera and Carvana, tech’s next two IPOs, both price at $15 per share  Another day another IPO(s). Due to the recent success of public offerings from companies like Yext, Okta and Snap it seems the time is now for startups to go public. And tomorrow we have two IPOs that are weirdly similar when you look at the numbers. Both will offer the same amount of shares for the same price on the ...
  • Amazon blows past earnings expectations  Amazon reported first quarter earnings after the bell on Thursday. The company shattered earning expectations, reporting $1.48 per share, when Wall Street was expecting $1.12. Net income stood at $724 million. Revenue came in at $35.71 billion, above the $35.30 billion that analysts were forecasting and up 23% from last year. Shares quickly soared 5% in initial ...
  • Alphabet’s efforts beyond search are ballooning into their own huge businesses  Alphabet’s advertising business seems to be following the same pattern these days — but its operations beyond that look like they are beginning to grow into strong businesses in their own right. The company reported its first-quarter earnings today that outperformed what Wall Street expected, with its advertising business once again continuing to generate an ...
  • How to fix the blockchain ‘fail whale’ problem  If you’ve spent any time on the internet over the past several years, you’re no doubt familiar with the “fail whale” that plagued Twitter in its formative years. Users would log in, only to be shown a graphic of a whale with the message: “Twitter is over capacity.” Twitter’s fail whale problem came down to ...
  • TransferWise moves into Asia Pacific with opening of regional HQ in Singapore  TransferWise, the billion-dollar valued startup that reduces the cost of cross-border payments, has taken a big step to globalizing its service after it opened an Asia Pacific office in Singapore. The UK-based service was started in 2010 by Estonian entrepreneurs Kristo Kaarmann and Taavet Hinrikus, its CEO, as a method for sending money from country to country ...
  • Dropbox really wants us to know its finances are healthy  Healthy financial milestones sugarcoat the conversation temporarily, but eventually Drew Houston is going to have to step into the public markets. At that point nobody will care how fast Dropbox grew its revenue back in the day. The question will… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • PayPal shares up 7% after better-than-expected earnings  PayPal, the payments company, posted first quarter earnings results after the bell on Wednesday. After surpassing analyst estimates with an adjusted 44 cents per share, compared to the 41 cents that many were predicting, shares rose 7% in initial… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • CommonBond now offers direct student loans alongside debt refinancing  CommonBond, one of the biggest of the second generation of startups tackling online lending, has launched a direct student loan product as it expands its footprint in the debt business. The company is known for its strict qualification requirements for refinancing packages and with an initial focus on the high end of student lending (servicing only ...
  • Dave wants to save you from expensive overdraft fees  Meet Dave: an AI dressed up in a bearsuit that’s just launched to save you from the evils of expensive overdraft fees. Hand Dave access to your checking account and the app’s machine learning algorithms will get busy crunching your spending data so the bear can warn you about pending transactions which might push you ...
  • An obscure regulatory debate has put the entire U.S. fintech community on edge  An obscure request for comments on regulatory standards, released by the Office of the Comptroller of the Currency (OCC) last March, has since evolved into a complex turf war between the states and Washington DC. Caught in the middle is the entire online finance industry, raising the question of just what a ‘fintech’ business really ...
  • Analyzing the spectrum of corporate innovation from R&D to VC  Over the coming decade, ongoing corporate exploration of the incubator, accelerator, and venture capital models will expand the use of these additional forms of external innovation. 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 ...
  • Another smart card bites the dust, as Plastc ends operations and leaves pre-orders unfulfilled  Plastc is throwing in the towel today. The smart card maker sent a message to backers (which now also graces the startup’s homepage) announcing that it’s “exploring options” for filing Chapter 7 and, more importantly, is shutting down all operations as of today. Read More Share this:Click to email this to a friend (Opens in new ...
  • NerdWallet just laid off over 40 people, including its VP of growth  Personal finance startup NerdWallet recently let go of more than 40 employees, TechCrunch has learned. As part of the changes, NerdWallet VP of growth Henry Hsu left the company and NerdWallet COO Dan Yoo is moving into an advisory role. Read More Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • MakeSpace raises $30 million to store your belongings  If you live in New York, you’ve seen the subway ads. MakeSpace wants to free your apartment of clutter. And now the self-storage startup is getting $30 million to execute on their vision. This follows another $17.5 million raised last year. Venture capitalists from 8VC, Upfront Ventures, Harmony Partners and Summit Action believe that there’s a $30 billion market opportunity… ...
  • Orange is launching a bank because reasons  French telecom company Orange is launching a bank this Summer in France. Orange CEO Stéphane Richard listed some of the features behind Orange Bank this morning at a press conference. And let’s just say that it doesn’t sound as groundbreaking as the company thinks. Just like N26, Revolut and others, you’ll be able to control ...
  • Alibaba’s Ant Financial may have won the bidding war for MoneyGram after upping its offer to $1.2B  Ant Financial, the Alibaba affiliate company focused on financial services, appears to have finally won its battle with Euronet to acquire MoneyGram, the U.S.-based cross-border payments service, after it increased its bid to $1.2 billion. Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • Simple is closing some customer bank accounts, and users are mad as hell  Simple, the online banking service that promised to be a better alternative to big banks like Chase or Citibank, is falling short of some users’ expectations. This time, it comes as a result of the sudden and surprising notice customers received alerting them that their accounts would be closed next month. Read More Share this:Click to ...
  • Uber shares growing financials to distract from negative publicity  Uber, the popular ride-hailing startup shared a grip of new financial metrics with Bloomberg today. The numbers indicate that the company is still growing at an impressive pace, and that despite staggering losses may be getting a handle on its cash burn. The company’s numbers have leaked in various quantities before, but today’s disclosure is ...
  • Baidu is acquiring xPerception, a U.S. startup focused on computer vision  Baidu is acquiring xPerception, a US startup specialized in computer vision, according to Reuters. Details are sparse, but we know the startup has its own module for object recognition and depth perception that can be deployed on robots and drones. The Chinese tech giant has been active in machine intelligence M&A this year. Back in ...
  • LVH and 55 Capital raise $10 million to build investment solutions for financial advisors  LVH, the parent of 55 Capital, has raised $10 million in Series A funding to build out its technology platform for investors and further its financial research. Point72 Ventures, the venture capital fund associated with billionaire Steven Cohen, … Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Android Pay now works in Bank of America, USAA, Discover & other mobile banking apps  Android Pay, Google’s answer to Apple Pay and other mobile payment technologies, today unveiled new partnerships with a handful of banks from around the world, who will integrate the service into their own apps. The feature will be available within the mobile banking apps provided by Bank of America, USAA, Bank of New Zealand, Discover, and ...
  • Amazon gains wallet license to boost its business in India  Amazon has gained a wallet license in India, Medianama reports, as part of a move that will allow the U.S. e-commerce giant to offer a paying experience with less friction in the country. Currently, Amazon customers must go through two-factor authentication processes for each purchase that they make. That’s in accordance with national law. A wallet ...
  • Alibaba’s Ant Financial to develop services in Indonesia as global expansion continues  Ant Financial, the fintech company affiliated with Chinese e-commerce giant Alibaba, is continuing its global expansion. The firm has taken its first official step into Indonesia today after it announced a joint venture to develop local financial services. The company has partnered with conglomerate Emtek, Indonesia’s second largest media firm and an investor in -major e-commerce… Read More Share this:Click ...
  • Capital One Mobile – Capital One Capital One Mobile lets you manage your credit cards, bank accounts, home and auto loans anywhere, anytime, from one place on your iPhone or iPad. Check account balances, pay bills, view payment activity and transaction details, set up notifications — and lots more. Access your accounts lightning-fast with Touch ID or SureSwipe®, personalize your app with ...
  • Pay day loan firm Wonga suffers data breach affecting up to 270,000  Payday loan firm Wonga has suffered a data breach affecting up to 245,000 customers in the UK. A further 25,000 customers in Poland may also be affected, according to the BBC. 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 ...
  • Europe funds another data accelerator to get startups tackling societal problems  A new European Commission funded startup accelerator, Data Pitch, is being launched today with the aim of connecting established businesses and organisations with lots of data with startups who might be able to help them unlock the value of the i… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Peter Fenton is leaving Twitter’s board of directors  Benchmark partner Peter Fenton, who had been on Twitter’s board since 2009, will not seek re-election after his term expires in 2016, according to a new filing with the Securities and Exchange Commission. 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 ...
  • Identity management software provider Okta seeks to raise $187M with IPO pricing  Okta is setting an increasingly ambitious target for its IPO, now officially pricing it at $17 per share set for its debut tomorrow — and looking to raise as much as $187 million in the hopes that it can capitalize on the newly open IPO window. Read More Share this:Click to email this to a friend ...
  • Elevate Credit pulls off lending IPO  After postponing its IPO last year, Elevate Credit, the venture-backed lending company, went public on the New York Stock Exchange today. Elevate priced at $6.50 per share, closing the day up over 19% at $7.76, but this was still well below the expected range of $12 to $14. They decided to go through with the ...
  • Monzo is now a proper digital bank UK banking startup Monzo has been given the green light by the Prudential Regulation Authority and the Financial Conduct Authority to operate, well, like an actual bank. Until now, the company has been working with a restricted banking licence… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • ffVC and NYU are mixing researchers with investors in the name of machine intelligence  The timing was perfect. Just as startups were settling into NYU and ffVC’s new brains-meet-money accelerator, “AI Nexus Lab,” Uber acquired Geometric Intelligence. In a stroke of luck, the startup that would become Uber’s AI lab happened to have been raised by NYU Tandon’s Data Future Labs. Uber’s interest in Geometric helped solidify New… Read More Share this:Click to ...
  • Robinhood stock trading app valued at $1.3 billion with big raise from DST  Zero-fee stock trading app Robinhood has added to its coffers, raising another big round of funding. According to sources, the round was led by Yuri Milner investment vehicle DST Global and values the company at $1.3 billion dollars. Read More Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Cloudera posts long-awaited IPO filing  Cloudera, the enterprise big data company that’s received significant backing from Intel, has unveiled its much-anticipated IPO filing. In the S-1, we get a glance at their financials. Revenue is growing, bringing in $261 for the fiscal year ending in January and $166 million for the same period last year. Losses were $186.32 million, down from $203 ...
  • Equity Podcast: Dropbox’s capital appetite and average revenue per dog  Welcome to the third episode of Equity, TechCrunch’s newest podcast. Each week we dive into the startup and venture capital worlds, with a special focus on where they collide. This week our own Matthew Lynley is off, so Katie Roof and myself sat down with a pair of venture capitalists from Canaan Partners, an investment shop ...
  • Dropbox reportedly secures a $600 million credit line  Preteen unicorn Dropbox needs some cash real quick, so the company just secured a $600 million credit line according to a new Bloomberg report. This could be the company’s last “funding” round before its initial public offering. According to Bloomberg, Dropbox is thinking about going public before the end of the year. According to what ...
  • Looker catches the fancy of CapitalG, Goldman and Geodesic with $81.5M Series D  Business intelligence platform Looker is announcing a wholesome $81.5 million Series D today led by CapitalG, Alphabet’s cleverly named growth investment arm. Goldman Sachs and Geodesic Capital helped fill out the round, joining existing investors, KPCB, Meritech Capital Partners, Redpoint and Sapphire Ventures. Rather than compete in segmented markets against visualization and data… Read More Share this:Click to email ...