Finance

  • 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 ...
  • Rover and DogVacay merge to dominate the pet-sitting market  Putting an end to a fierce competition to dominate the pet-sitting business, Rover and DogVacay have agreed to join forces. Rover will be acquiring DogVacay in an all-stock deal. DogVacay’s investors, including Benchmark, Andreessen Horowitz, First Round and Foundation Capital, will now become Rover shareholders. Further terms of the deal were not disclosed, but “all ...
  • Tech will lead to new sub-prime crunch  In October 2016, two leading P2P platforms in the U.S. — Lending Club and Prosper — announced a new increase in interest rates for lower-grade loans. The decision was made in order to sustain investor demand. However, keeping the investor demand stable is not the only reason for recent changes — delinquencies are growing, especially ...
  • Wells Fargo lets you use Apple Pay and Android Pay to withdraw money  Wells Fargo just announced that you’ll be able to use your phone or smartwatch to withdraw money from 13,000 ATMs in the U.S. As spotted by MacRumors, the bank says that it will support Apple Pay, Android Pay and Samsung Pay. 5,000 ATMs should already support those NFC payment systems, others will follow suit. TechCrunch ...
  • NerdWallet – Free credit score, Credit Cards – NerdWallet Free credit score and reports — plus find the best credit cards for you. Build your credit by understanding the factors that affect it and optimize your wallet with credit cards matched to your credit score, all at no cost to you. Getting your credit score with NerdWallet won’t affect your score and you won’t ever ...
  • Alteryx rises 11% in data analytics IPO  Alteryx, the data analytics company, went public on the New York Stock Exchange today, marking the third IPO of the year. The company priced its IPO yesterday at $14 per share, and closed Friday at $15.50, or 10.7% higher. Alteryx works with clients like Amazon, Ford and Coca-Cola to help them better assess what products are ...
  • What do you want to ask SoFi CEO Mike Cagney at Disrupt NY?  Have you ever wanted to know what makes a fintech startup tick, but didn’t have the chance, or the right person, to ask? Well, we’ve got you covered: Mike Cagney, the co-founder and CEO of one of the hottest fintech busineses around, is coming to Disrupt in New York for a fireside chat, and we ...
  • Samsung is aiming to widen access to contactless payments  While Samsung’s most high profile contactless payment push is the eponymous Samsung Pay — aka its mobile payments product, which competes with the likes of Apple Pay and Android Pay — the company is today bigging up another approach it’s backing, with the not so catchy name of Contactless Companion Platform (CCP). Read More Share this:Click ...
  • Lystable takes $10M top-up to tackle freelancer payments  Lystable, a startup that makes a workflow management platform aimed at businesses needing to manage lots of freelancers, has topped up its Series A again — this time with an additional $10 million, which founder and CEO Peter Johnston says will be use to fund a change of business model with a payments focus. Read ...
  • Lystable takes $10M top-up to tackle freelancer payments  Lystable, a startup that makes a workflow management platform aimed at businesses needing to manage lots of freelancers, has topped up its Series A again — this time with an additional $10 million, which founder and CEO Peter Johnston says will be use to fund a change of business model with a payments focus. Read ...
  • Coinbase has added margin trading to its bitcoin exchange  GDAX, the cryptocurrency exchange run by Coinbase, has added margin trading to the platform. Eligible traders can now trade up to 3X levered orders on Bitcoin, Ethereum and Litecoin order books. If you’re unfamiliar with trading and exchanges, margin trading is when you borrow money from your broker to buy or sell more stock than you can afford. ...
  • Pit.ai puts a financial twist on reinforcement learning to outperform hedge funds  Most hedge funds don’t make money. This hasn’t stopped a growing list of startups from trying their hands at employing machine learning to tip the scales in their favor. But Pit.ai, a new machine learning-powered hedge fund, adopted into the YC W17 class, thinks it can best Numerai, Quantopian and others with its own unique ...
  • IBM unveils Blockchain as a Service based on open source Hyperledger Fabric technology  IBM unveiled its “Blockchain as a Service” today, which is based on the open source Hyperledger Fabric, version 1.0 from The Linux Foundation. IBM Blockchain is a public cloud service that customers can use to build secure blockchain networks. The company introduced the idea last year, but this is the first ready-for-primetime implementation built using that technology.… Read More Share this:Click to ...
  • Arthena uses data science to find the best investments in art  We all have our opinions about art (even if that opinion is just I don’t get it) — but what about art as an investment? Arthena, which is part of the current batch of startups at Y Combinator, says it can help investors make money reliably from art. Founder and CEO Madelaine D’Angelo said Arthena first launched as ...
  • Equity podcast: The return of IPOs and Tesla’s billion-dollar bet  One down, many more to go! The first episode of TechCrunch’s latest podcast, Equity, our venture capital-focused podcast is out. This week, TechCrunch’s Matthew Lynley, CrunchBase editor-in-chief Alex Wilhelm and I sat down with investor and SaaStr founder Jason Lemkin to talk about Tesla’s $1 billion raise, the return of IPOs and recent acquisitions in the technology… Read ...
  • Venmo – Venmo Venmo is the simple and fun way to send and receive money between friends. Whether you’re splitting a dinner bill, concert tickets, or the cost of a road trip, Venmo removes the awkward talks over who owes what. Just send or request your payment with a message or emoji combo of your choice, then comment on ...
  • Koho, a mobile-only suite of financial services for millennials, launches in Canada  The world of consumer financial services has been turned upside down by the rise of newer technology like apps and the growing expectation from people that they should have a lot more flexibility and access when it comes to controlling how they spend and save their money. The latest development on this comes out of Canada, where ...
  • Starling Bank, a digital-only UK challenger bank, launches beta  Starling Bank, one of a number of digital-only or so-called “challenger” banks in the U.K., is launching a beta of the app that powers its current account, the first time it has been available beyond a very small group of private testers close to the company. Read More Share this:Click to email this to a friend ...
  • Credy looks to digitize personal lending in India  Lending platform Credy is looking to change the way people gain access to personal loans in India. The company, which is currently a part of Y Combinator’s Winter 2017 batch, is digitizing the process and improving access to capital for residents by opening up peer-to-peer loans to a wider group of borrowers and lenders. Read ...
  • 500 Startups will keep investing in Latin America with new $10M fund  500 Startups is increasing its commitment to global investing with a new Latin America fund, targeting $10 million, going by the name of Luchadores II, the Spanish word for wrestlers. The fund is 500’s second aimed at the region and one of a growing number of its seed investment vehicles targeted at underserved markets across Europe, Asia ...
  • N26 now has 300,000 customers and adds 1,000 users per day  You’d think it would be a bit harder to get new users when your startup is a bank. But N26 is now available in 17 different European countries and has opened 300,000 bank accounts for its user base. Currently, a thousand people sign up to N26 every day. The vast majority of the user base ...
  • Bill Maris’s next gig after GV is a $100 million health and biotech fund  It was happening, then it wasn’t — but now it seems Bill Maris’s venture fund might actually be more than vaporware. Maris, founder of Google Ventures, now called GV, is raising money again for a new health-care, biotech, and tech-focused venture capital fund, according to sources familiar with the matter. What was initially thought to be a $230 million fund has… Read ...
  • Sift raises $1.5 million to unlock your credit cards  Did you know that your credit cards can do amazing things? Aside from drawing you into crippling debt while forcing you to be part of the vast cycle of economic servitude, credit cards also offer cash-back on purchases, protection on items you buy, and refunds! That’s what Sift wants to help you unlock. “We unlock ...
  • You can now send and request money in Gmail on Android  Google Wallet has been integrated into Gmail on the web since 2013, but today Google is rolling out a new integration on mobile. Starting today, users of the Gmail app on Android will be able to send or request money with anyone, including those who don’t have a Gmail address, with just a tap. The ...
  • Identity management software provider Okta files for today’s second $100M IPO  It looks like Snap’s (at least perceived) successful IPO has officially opened the window: following Yext officially filing for an IPO this afternoon, identity management software company Okta just dropped its official filing for an IPO. After much hand-wringing about whether or not 2017 would avoid last year’s fate of an IPO drought, we’ve seen ...
  • New York-based Yext files for IPO  Yext, the company that powers location data in search results, has revealed its IPO filing. The business will be able to join the stock market as soon as April. The offering is said to raise $100 million, but that number is subject to change. We will get more of an indication in the coming weeks about how Yext ...
  • Bitcoin drops 15% after the SEC rejects the Winklevoss ETF  The SEC just issued their ruling on the Winkelevoss bitcoin ETF, and it wasn’t good news for enthusiasts of the digital currency. Regulators rejected the proposed application, mainly because of the lack of regulation currently surrounding bitcoin. An approval would have meant that the public could invest in bitcoin simply by purchasing shares in the ETF, which ...
  • Google partners with VCs to host its own machine learning startup competition  On the heels of acquiring data science community Kaggle, Google is launching a machine learning competition of its own for startups. Google is targeting early-stage companies taking an innovative approach to machine learning. The competition is b… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new ...
  • Astro raises an $8 million Series A for its AI-powered email solution for teams  On the surface, Astro, launching its public beta today, is a nifty but not completely necessary email client that combines machine intelligence and a bot interface to improve workflows and increase the signal to noise ratio of mail for power users. But the real story is that the startup, backed with a new $8 million Series ...
  • Rethinking return on education investment  A new generation of tech-enabled startups are beginning to reimagine how students finance their education. Higher ed’s transformation is fueling a convergence of fintech and edtech that aims to blur the line between learning and earning — and will force students, colleges and financial institutions to think differently about return on education investment. Read More Share ...
  • Blumberg closes $200 million dollar fund  Blumberg Capital is announcing the close of its fourth fund. The team will be managing $200 million dollars, an increase from the $150 million in the prior fund. Blumberg plans to use the money to invest in early stage startups, particularly in the enterprise, security and fintech categories. Known as the first investor in Nutanix, the Blumberg crew also remains enthusiastic about I.T. Read ...
  • Snap tumbles 12% on day three, erases gains  Snapchat parent Snap Inc. debuted on the stock market Thursday and immediately saw substantial gains on its first two days. But the excitement has already worn off, with shares tumbling more than 12 percent on day three. After finishing Friday at $27.09 per share, Snap closed at $23.77 on Monday, beneath the $24 where it opened on its first ...
  • Thiel’s chief of staff tapped as White House deputy CTO  Peter Thiel has been at Donald Trump’s side since the Republican National Convention, guiding the then-candidate on technology policy and brokering a meeting between him and top tech executives. Now Thiel has secured a place for one of his top aides in Trump’s White House — Michael Kratsios, formerly chief of staff at Thiel Captial, ...
  • Algoriz lets you build trading algorithms with no coding required  Traders who have an idea for a money-making algorithm have two choices: learn to code themselves, or hire a great engineer. But neither of these two options are realistic, especially for part-time traders who don’t have a large bankroll behind them. Meet Algoriz, a startup participating in Y Combinator’s Winter 2017 batch. Read More Share this:Click ...
  • Snapchat soars again on second day of trading  Snap Inc., the parent of Snapchat, has been off to the races with its debut on the stock market. Yesterday, the stock closed at $24.48, a 44% gain from the IPO price of $17. And today it’s gone up a bit further, surpassing $29 at one point, an almost 20% increase from the close of yesterday. Shares later ...
  • Alibaba’s arch rival JD.com spins out its financial services business  While Alibaba’s Ant Financial fintech affiliate is out doing deals to expand its global presence and raising a $3 billion war chest for further M&A, its chief rival in China has made a strategic deal of its own. JD Finance, the financial services business belonging to Alibaba competitor JD.com, is going independent, according to a deal announced ...
  • Did Snapchat leave money on the table?  Snapchat priced its IPO at $17 per share on Wednesday, raising $3.4 billion dollars. Then it opened Thursday at $24 per share and closed at $24.48. That’s a 44% gain, for the select investors who bought into the IPO.  And that gain looks great…for new investors. But it also means that Snapchat could have sold ...
  • Snapchat is already more valuable than these 9 companies  Snap Inc., the parent company of Snapchat, had a stellar first day in its public debut on the New York Stock Exchange, popping 44%. The self-proclaimed camera company that began its roots as an ephemeral photo-sharing app first priced its IPO at $17 per share on Wednesday. The stock opened at $24 and closed the day at ...
  • Snapchat is already more valuable than these 9 companies  Snap Inc., the parent company of Snapchat, had a stellar first day in its public debut on the New York Stock Exchange, popping 44%. The self-proclaimed camera company that began its roots as an ephemeral photo-sharing app first priced its IPO at $17 per share on Wednesday. The stock opened at $24 and closed the day at ...
  • Snapchat stock finishes up 44% on first day  Snap, the parent company of Snapchat, had a great day in its debut on the New York Stock Exchange. After pricing the IPO at $17 per share yesterday, the stock opened at $24. It then closed the day at $24.51, a 44% premium to the people who bought it yesterday. But like with all IPOs, not everybody got to access ...
  • One bitcoin is now worth more than one ounce of gold  For the first time ever, the price of one bitcoin has surpassed the price of one ounce of gold. While today’s swap can be attributed to a good day for bitcoin (up ~3%) and a bad day for gold (down ~1.3%), the big picture is that bitcoin has more than doubled in the last year (up ...
  • Lyft seeks $6 billion valuation in funding round  Lyft is out pitching to investors while competitor Uber surrounds itself in controversy. The Wall Street Journal first reported that they are chatting about a $500 million round. We’re hearing that they are targeting a roughly $6 billion valuation, slightly above the $5.5 billion they were valued at in their last private round. The timing ...
  • Box’s Levie touts positive cash flow  Cloud content management company Box posted fourth quarter earnings after the bell on Wednesday with shares quickly plummeting in initial after-hours trading. They mostly recovered, trading down just 1% by late afternoon. Box beat investor expectations with an adjusted loss of 10 cents per share versus the negative 14 cents forecast. Revenue for the quarter was also a ...
  • Snap values itself at nearly $24B with its IPO pricing  Snap has given a final price for its IPO, setting the company’s valuation at nearly $24 billion with a price of $17 per share, according to a report by the Wall Street Journal. With that, it looks like Wall Street had plenty of an appetite for Snap despite multiple major concerns about the company’s business. ...
  • Could Snapchat lead to more tech IPOs?  When Snap prices its IPO after the closing bell today, it will be the first tech company to go public this year. It will also be the largest tech company to go public in the U.S. since Alibaba debuted in 2014. Because of the dearth of recent tech offerings, all eyes will be on the ...
  • Udacity buys CloudLabs in its first-ever acquisition to enable collaborative programming  In the market for online education, Udacity remains focused on teaching its students about software development, data science and machine learning. To this avail, Udacity brought out its M&A team for the first time to strategically acquire CloudLabs, a small shop building interactive coding environments that let groups collaboratively code from within their browsers. You… Read More Share this:Click to email ...
  • Five burning questions that Snap’s IPO is about to answer  Snap will begin publicly trading tomorrow, which means that it will officially give a price for its shares in its initial public offering this evening. Originally setting a range between $14 and $16, the company set its own valuation lower than w… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • Baidu Ventures partners with Comet Labs as both double down on artificial intelligence  Baidu Ventures exists on the front-lines of the Chinese search giant‘s push to brand itself as an artificial intelligence company. In an effort to bridge the AI ecosystems of China and the United States, Baidu Ventures is partnering with Comet Labs, a San Francisco-based fund specializing in machine intelligence. Unlike other venture capital firms looking ...
  • Class Action lawsuit alleges PayPal diverts charitable donations from intended recipients, misleads consumers  PayPal was targeted with a class action lawsuit filed on Tuesday in Chicago which focuses on the way the payments company handles charitable donations. The suit alleges the company’s charitable arm, the PayPal Giving Fund, is misleading consumers who believe they are giving directly to the charities listed on the company’s homepage, but whose funds ...
  • Nearly one year after launch, Apple Pay finds limited traction in China  Editor’s note: This post originally appeared on TechNode, an editorial partner of TechCrunch based in China. After a slow start, Apple Pay is now dominating its home country, the United States, but the same can’t be said of China where it is up against a different set of challenges. Data from Boston Retail Partners shows ...
  • China’s Qunar to delist from NASDAQ after completing sale to private equity firm  Chinese travel site Qunar is all set to delist from the NASDAQ after it completed its sale to private equity firm Ocean Management. The deal was first announced last October and today it went through having gained shareholder approval earlier this week. The transaction values Qunar, which is backed by Baidu, at around $4.44 billion. The firm raised ...
  • WorkJam raises $12 million to communicate with hourly workers  There is plenty of enterprise software for the white-collar workforce, but there still isn’t an ideal way to communicate with employees who aren’t sitting at a desk. That’s the thesis behind WorkJam, which is announcing $12 million in funding from Lerer Hippeau Ventures, Blumberg Capital, Founder Collective and NovelTMT. Read More Share this:Click to email this ...
  • Boston Dynamics’ Handle robot dominates parkour on wheels in new footage  Boston Dynamics’ wheeled Handle robot received much fanfare earlier this month when DFJ partner Steve Jurvetson slipped us an early video from a company Keynote. Today we have more details on Handle in the form of a shiny HD video. We already knew Handle could manage some pretty sick hurdles and spins, but the new ...
  • IT services manager Cherwell Software joins private equity giant KKR’s growing tech portfolio  With a new $50 million investment from private equity giant KKR, IT service management company Cherwell Software becomes the latest business in the firm’s growing tech portfolio. The investment, from KKR’s $711 million Next Generation Technology Fund, is the firm’s fifth deal since closing the fund last December. Cherwell Software, a Colorado Springs-based company, makes… ...
  • Cash is no longer king  The idea of a cashless society is one of the topics that stirs up a heated debate when it comes to the digitalization of banking and society. While the anonymity of cash acts as an enabler for the illegal economy, many fear that the lack of said … Share this:Click to email this to a friend ...
  • Chase Mobile℠ – JPMorgan Chase & Co. Do your banking right from your mobile device You can manage your accounts, make deposits, find ATMs and more. Now it’s easy to do banking 24/7, right from your iPhone® or iPod touch®. To start, just enroll in Chase Online. To view the Chase Mobile app in Spanish language, please ensure your iPhone® or iPod touch® language ...
  • Square Cash – Send Money for Free – 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 even spend directly from the app with a built-in Visa virtual card number. SAFE TO USE Protect payments with Touch ID or a passcode INSTANT DEPOSITS Optionally cash out to your bank in seconds for a ...
  • PayPal – Send and request money safely – PayPal, Inc. Description TAP INTO YOUR MONEY Send money or pay online to almost anywhere in the world in just seconds. Manage all the ways you send, receive, and spend money at a glance – download the PayPal payment app today. SEND MONEY IN SECONDS Transfer money to PayPal account holders in over 100 countries using just their email address or ...
  • Credit Karma: Free Credit Scores, Reports & Alerts – Credit Karma, Inc. Get your free credit scores, reports and more on Credit Karma. Checking your own credit won’t affect your score, and we’ll never ask for your credit card info. Apple ® named it one of 2016’s 10 Best Apps of the Year, and it now has a bright new look! Free, Helpful Features for Your Credit: • Free ...
  • The price of Bitcoin just hit an all-time high  Wow – Bitcoin just hit an all-time high. The digital currency is currently trading at around $1,186 – which is about $20 more than it’s previous all-time high of ~$1,165, which it hit three years ago in November 2013, at the height of Bitcoin-mania. A few months after that all-time high, Mt. Gox, one of the earliest and ...
  • A new way for founders to connect with the right VCs  A young Silicon Valley venture firm is taking the wraps off a piece of software that it says makes it a cinch for founders to figure out which VCs are worth approaching, based on stage, sector, and a variety of other factors. It’s called Signal, and it’s the first project of NFX Guild Labs, an offshoot of ...
  • K2 Global’s $183 million VC fund aims to decentralize Sand Hill Road  K2 Global is announcing a $183 million venture capital fund targeted at early stage startups with global aspirations. The fund is closing significantly larger than the $58 million the firm initially raised. With a decentralized team and no Sand Hill Road office, K2 Global aims to bring Valley hustle to international technology investing. In contrast to well ...
  • Airbnb finalizes deal to buy social payments startup Tilt  Airbnb has finalized its deal to buy social payments startup Tilt, TechCrunch has confirmed. We reported on the acquisition talks last month, but now everything has been made official. We are told that investors will be getting back about $12 million in cash, but the deal value is tens of millions of dollars higher if you include ...
  • Hanging out at Snap’s unremarkable IPO roadshow  One of the remarkable things about the roadshow presentations for hotly-anticipated IPOs — where they’ll make a pitch to investors and answer questions — is that they are often unremarkable. That seemed about the same case for Snap, which was presenting to potential investors at the Mandarin Hotel in New York this afternoon. Over lunch, a ...
  • Policy rollbacks can’t counteract technology advances in retirement investing  Technology has already upended the current brokerage model and millennials, the largest generation in U.S. history, won’t settle for anything less than a service that puts their interests ahead of company bottom lines. 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 ...
  • Alibaba’s Ant Financial expands to Korea with $200M investment in Kakao Pay  Alibaba affiliate Ant Financial is making yet another M&A deal. The firm is investing $200 million into a fintech project belonging to Kakao, the $5 billion firm that runs Korea’s dominant messaging service. Ant Financial, which manages payments service Alipay and Alibaba’s digital banking business, will invest the capital into Kakao Pay, a soon-to-launch Kakao fintech division. Read More Share ...
  • Temasek jumps into China’s bike rental startup war with investment in MoBike  Temasek, Singapore’s state-owned investment firm, has jumped into China’s on-demand cycle war after it backed MoBike. China’s ride-sharing war is last year’s news. The big battle between Uber and Didi Chuxing is essentially over after the latter agreed to buy the former’s China-based business. The new startup drama du jour is in bikes — services that let… Read ...
  • App platform company MuleSoft files for IPO  MuleSoft is the latest “unicorn” to file for an IPO. The company, which helps businesses like Netflix and Spotify with their APIs, has unveiled its financials to the public in an S-1 filing, suggesting that they are targeting a debut as soon as March. The size of the proposed IPO is $100 million, but that is subject to change. In the ...
  • Why Snap would lowball its IPO valuation  The short answer for why Snap lowballed its initial valuation for its initial public offering is that it probably won’t be that low for long. Normally these prices are set by expectations the underwriters and executives can divine from their conversations with Wall Street. It’s essentially a matching game — how does Snap and its underwriters ...
  • Dorsey: Twitter still has “a long way to go”  Twitter co-founder and CEO Jack Dorsey spoke on stage with COO and CFO Anthony Noto at the Goldman Technology Conference in San Francisco on Wednesday. The leaders of the social media giant reiterated Twitter’s mission as a real-time information platform and spoke of its latest accomplishments, but also talked about the challenges of growing what ...
  • PayPal buys TIO Networks for $233 million  PayPal has agreed to buy bill payment management company TIO Networks for $233 million in cash. The deal will allow PayPal to gain access to a market of customers who pay their utility and cable bills at kiosks in locations like Rite Aid. This will help the company reach the “underserved” chunk of North Americans who are living ...
  • This venture firm just produced one of the first detailed equity research reports on Snap Inc.  Many things that used to be true primarily of the public market now happen within the world of private company investing, including the participation of mutual fund investors. Now, you can add equity research reports to that list. Goodwater Capital — a two-year-old, consumer-tech-focused venture firm is today taking the wraps off a detailed snapshot of pre-IPO Snap, ...
  • Amazon hints at Prime sales in latest filing  Amazon Prime has driven growth for the e-commerce company for years now. But Amazon has traditionally been cagey about disclosing too many details regarding the popular service. In a 10-K filing summarizing performance throughout 2016, the business did something that drew the attention of Wall Street analysts. It designated a category entitled “retail subscription services”… Read More Share this:Click ...
  • Nikon restructuring causes casualties to bottom line, camera line, and production line  Nikon’s plan to restructure in the face of challenges to the digital imaging space has proven more costly than expected in more ways than one. A rough quarter means the company will not only miss profit expectations, but will have to buy out a thousand employees and end its DL line of compact cameras. Read ...
  • PitchBook brings company financial data to its mobile app  Finding financial data, particularly for private companies, is no small task. It usually requires a solid BS detector for researching online and a network of knowledgeable sources to bounce numbers off of — not something that can easily be done over coffee or in the middle of a meeting. PitchBook, a PE and VC database, is integrating ...
  • Can you trust crypto-token crowdfunding?  In 2016, blockchain startups raised some $200 million in Initial Coin Offerings, a new form of crowdfunding based on cryptocurrency tokens. Some of the startups have raked in millions of dollars; several have failed to deliver. Expert opinion is highly polarized on the crypto-token crowdfunding hype, its reliability, its legality and its future. Here’s what ...
  • Pandora falls 4% on earnings news  Internet music giant Pandora fell 4% in initial after hours trading after the company released its fourth quarter 2016 earnings results. Pandora actually beat expectations, but this was already worked into the stock because the company announced last month that they would beat guidance. Investors were apparently looking for something better. The earnings per share loss ...
  • Greycroft announces $250 million growth fund  Greycroft Partners, the venture firm co-founded by industry veteran Alan Patricof, is announcing their second growth equity fund. They will have about $250 million in capital to deploy, an increase from the $200 million in their previous late sta… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • Twitter says product changes are main growth driver, not just the President’s usage  Twitter’s advertising business is stalling, but the company is trying to focus on some flashes of improvement among the service — which it’s attributing to product changes, and not just to major events like presidential debates or the President’s usage of Twitter. There were some questions as to whether President Donald Trump’s usage of Twitter ...
  • Jack Dorsey says he’ll continue running both Square and Twitter  As Twitter’s growth continues to stall and increasingly become an issue, Twitter CEO Jack Dorsey’s double-time running both Twitter and Square has become a big question mark — and Dorsey says he’s staying the course. “This focus, and this team, allows me and gives me a lot of confidence I can continue to focus on ...
  • Twitter’s ad business may be becoming another one of its biggest problems  Twitter may have re-oriented itself and laid off part of its workforce to streamline its business, but it still doesn’t look like it is bringing in enough money to keep Wall Street happy. Here is the biggest data point from the company’s fourth-quarter earnings report: according to the company, advertising revenue totaled $638 million, which was down ...
  • Y Combinator now lets anyone recommend startups  After years of accepting tips from alumni, Y Combinator has decided to open up its recommendation network to everyone. The goal is to help increase the number of startups connected to YC by allowing professors, mentors, early customers and anyone else familiar with a team to submit recommendations to YC on their behalf. Kat Manalac, a ...
  • Singapore’s CXA raises $25 million to develop its health-focused insurance brokerage  CXA, a Singapore-based startup insurance brokerage — if such a thing can exist — has scooped up $25 million to expand its service that provide policies with a focus on wellness across Asia. This is a Series B investment and it was led by B Capital, the BCG-backed fund from Facebook co-founder Eduardo Saverin, and EDBI, the investment ...
  • Fintech is stimulating Chinese consumption and capital flow  Fintech is rapidly being adopted in China and is spurring consumption, both domestically in China and internationally. I interviewed the CEOs of three companies in China that are using fintech to boost purchases, ranging from daily necessities to… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • N26 users can now get a credit line in five minutes  N26 is iterating at an incredible pace these days with a ton of new product features and geographical expansions to build the most modern bank in Europe. But the new features always follow the same motto — your current bank sucks, everything should be simpler. Today, N26 introduces consumer credit done right. I saw a preview ...
  • Financing growth with debt in the app economy  When it comes to obtaining financing to grow your app or game business, there are several options from which to choose that take a debt-based approach, rather than giving away equity in your business. Choosing the right type of financing is criti… Share this:Click to email this to a friend (Opens in new window)Click to share ...
  • Thrive Capital hires Obama’s Director of Product Josh Miller to focus on tech for the underprivileged  Connections between the Obama administration and Silicon Valley abound, but particularly for Josh Kushner. The latest? Kushner’s venture firm Thrive Capital just hired Josh Miller, a member of the White House Office of Digital Strategy under President Barack Obama. Miller, just 24 when he left Facebook to serve as the White House director of product, starts Monday ...
  • Greenlight is a debit card for kids that parents manage from their phones  Greenlight, a three-year-old, Atlanta, Ga.-based startup, is trying to solve a problem that any parent of an elementary or junior high school student can well understand: how to give kids money without worrying that they’ll lose it or spend it on something they shouldn’t. It isn’t the first reloadable, prepaid card. MasterCard, Visa and American Express each ...
  • CEO Evan Spiegel’s Snap ownership is worth about $3.5 billion  Snapchat parent Snap Inc. has finally revealed its long-awaited IPO filing. The social messaging company, which plans to go public in early March, just shared details about its growth trajectory and financials.  And while we knew that Snap has raised at least $2.4 billion in capital from a long list of investors, we now know the ownership ...
  • Snap paid $114.5M to acquire Vurb and gives acquisition details for Bitstrips and Looksery  Now that Snap is revealing its financial guts to the world in its filing for its initial public offering, we’re getting a small glimpse at how much the company is paying to acquire startups. As Snap becomes a larger company and is able to amass more of a cash pile, it’ll be able to start ...
  • Snapchat paid Reggie Brown $157.5M to settle his ‘ousted founder’ lawsuit  Ousted Snapchat early employee Reggie Brown was paid $157.5 million in a settlement in September 2014 to close off a 2013 lawsuit he had brought against other co-founders Evan Spiegel and Bobby Murphy, alleging that they had taken his original idea and run with it, pushing him out of the company without compensation in the ...
  • Snap will expand distribution of Spectacles in 2017, but hardware remains an experiment  Snap, Inc. just released its IPO and there’s a lot to take away, but from a hardware perspective there’s not much present – which is actually telling in itself. The S-1 filing contains a few references to Spectacles, but they don’t suggest Snap’s view of itself as a camera company leans very heavily on its ...
  • Snapchat international user growth slowed in the second half of 2016  Snapchat parent Snap Inc. wanted to present a growing and and highly engaged user base today in its bid to go public. But there are reasons for concern, especially when you look more closely at user growth in Europe and the rest of the world With the release of the company’s S-1 filing today, Snap revealed that ...
  • Snap has finally filed publicly for its massive IPO  It’s here! Snap — which confidentially filed for its IPO late last year — has released its public filing through the Securities and Exchange Commission. It’s going to be listed on the NYSE as “SNAP.” This is another incremental step in the process of going public, but it’s probably the most important because we’re finally getting ...
  • Amazon fumbles earnings amidst high expectations  Mixed faces in Seattle today as Amazon delivered its Q4 2016 earnings. The e-commerce company reported lower than expected revenue of $43.74 with better than expected earnings per share of $1.54. Expectations had been high in the run up to the release. Wall Street consensus was that Amazon would deliver revenue of $44.68 billion with $1.35 earnings per share. In ...
  • UPDATE 1-Sports Direct in talks to bid for Bob’s, Eastern Mountain Sports -sources Feb 2 (Reuters) – Struggling British sportswear retailer Sports Direct is in talks to bid for Eastern Outfitters LLC, the parent of U.S. discount chain Bob’s Stores and outdoor retailer Eastern… 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 ...
  • UPDATE 1-EU set to approve ChemChina’s $43 bln bid for Syngenta – sources BRUSSELS, Feb 2 (Reuters) – ChemChina is set to secure conditional EU antitrust approval for its $43 billion bid for Swiss pesticides and seeds group Syngenta, the largest foreign acquisition by a… 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 ...
  • Thieves now use “Shimmers” to grab Chip/PIN card data Just when you thought it was safe to slip your card in a slot ATM skimmers have gotten just a bit smarter. New devices called Shimmers can now read your card number and, in certain instances, access your card’s chip. While the technique isn’t new – Shimmers began appearing in 2015 – they are still ...
  • UPDATE 1-Bosnia loan on hold because of delays in reforms, IMF says * Government advisor expects action soon (Updates with detail, government comment) Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on Google+ (Opens in new window)Click to ...
  • BRIEF-CCL Industries announces India entry for CCL label * CCL Industries Inc – pacman-ccl will invest $3.75 million in venture to acquire its stake, reduce debt and provide funding for future expansion Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Twitter (Opens in ...