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Startups Weekly: Zoom CEO says its stock price is ‘too high’

When Zoom hit the public markets Thursday, its IPO pop, a whopping 81 percent, floored everyone, including its own chief executive officer, Eric Yuan. Yuan became a billionaire this week when his video conferencing business went public. He told Bloomberg that he actually wished his stock hadn’t soared quite so high. I’m guessing his modesty and laser focus attracted Wall Street to his stock; well, that, and the fact that his business is actually profitable. He is, this week proved, not your aver...
Tags: Startups, Venture Capital, Adam Fisher, Alex Wilhelm, Artificial Intelligence, ATG, Bessemer Venture Partners, Ceo, Chief Executive Officer, Co-founder, Economy, Editor-in-chief, Entrepreneurship, Eric Yuan, Fastly, Finance

Extreme opinions about Tesla are completely wrong — here's why (TSLA)

The debate around Tesla is being defined by extreme bulls to one side and extreme bears to the other. A rational middle ground is hard to hold in this two-front battle over Tesla's future. Tesla moderates can take solace in the probability that the extremists are wrong. Visit Business Insider's homepage for more stories. Tesla is about to enter yet another critical moment. The carmaker will report first-quarter earnings next week, and after two consecutive quarters of profits, analysts expect...
Tags: FSD

Uber’s self-driving car unit raises $1B from Toyota, Denso and Vision Fund ahead of spin-out

Uber’s has confirmed it will spin out its self-driving car business after the unit closed $1 billion in funding from Toyota, auto-parts maker Denso and SoftBank’s Vision Fund. The development has been speculated for some time — as far back as October — and it serves to both remove a deeply-unprofitable unit from the main Uber business: helping Uber scale back some of its losses, while giving Uber’s Advanced Technologies Group (known as Uber ATG) more freedom to focus on the tough challenge of br...
Tags: Uber, Japan, Ipo, Softbank, Tech, Automotive, Toyota, ATG, DENSO, Dara Khosrowshahi, SoftBank Vision Fund, Vision Fund, Uber s Advanced Technologies Group, Uber ATG, Shigeki Tomoyama, Toyota Group

Toyota, SoftBank fund, Denso invest $1 billion in Uber

TOKYO (AP) — Japan’s top automaker Toyota, auto parts maker Denso and internet company SoftBank’s investment fund are investing $1 billion in car-sharing Uber’s technology unit. The Japanese companies said Friday that Toyota Motor Corp. and Denso Corp. will together invest $667 million and SoftBank Corp.’s Vision Fund will contribute $333 million in Uber Technologies […]
Tags: Business, Japan, Technology, News, Softbank, Ap, Nation, Tokyo, Toyota, Toyota Motor Corp, Uber Technologies, Softbank Corp, DENSO, Denso Corp, Toyota SoftBank

Uber has dangled $100 million at Dara Khosrowshahi if he can convince investors, or a buyer, that the company is worth $120 billion

Dara Khosrowshahi has a huge potential payout riding on Uber's IPO valuation hitting $120 billion and staying there for 90 consecutive days. He'd also get that payout for selling the company for $120 billion.  A source tell us his incentive is worth $100 million or more. Dara Khosrowshahi could get a huge payday — totaling more than $100 million according to a source — if Uber's IPO valuation hits $120 billion and stays at that level for 90 consecutive days. The Uber CEO will also get the pay...
Tags: Google, Uber, Southeast Asia, Softbank, US, Trends, Cruise, Gm, Honda, Expedia, PitchBook, Dan Primack, Dara Khosrowshahi, Primack, Khosrowshahi, Waymo

Logistics startup Zencargo raises $20M to take on the antiquated business of freight forwarding

Move over, Flexport. There is another player looking to make waves in the huge and messy business of freight logistics. Zencargo — a London startup that has built a platform that uses machine learning and other new technology to rethink how large shipping companies and their customers manage and move cargo, or freight forwarding as it’s known in the industry — has closed a Series A round of funding of about $19 million. Zencargo’s cofounder and head of growth Richard Fattal said in an intervi...
Tags: Amazon, Europe, London, Softbank, Tech, DST Global, Cto, Flexport, Picus Capital, HV Holtzbrinck Ventures, Christian Saller, Fattal, Zencargo, Richard Fattal, Samos LocalGlobe, Alex Hersham

A focus on diversity reaps rewards for this Los Angeles investor

The Los Angeles startup scene has come a long way in the three-and-a-half years since Marlon Nichols, Troy Carter and Trevor Thomas launched Cross Culture Ventures. The city and its surrounding Orange County exurbs were at the beginning of a venture capital surge that has seen invested capital in the region rise from $3.63 billion in 2015 to $6 billion last year. Since Cross Culture landed on the Los Angeles scene with a $50 million fund, Nichols and his partners have notched three exits and ...
Tags: TC, Spotify, Europe, Nordstrom, New York, London, Boston, Softbank, Los Angeles, San Francisco, Tech, Atlanta, Intel, Palo Alto, University, United States

Boston Tech Watch: Tufin, Facebook, RightHand, Diameter & Jebbit

A cybersecurity IPO could raise up to $124 million for an Israeli-based company with its US headquarters in Boston. Facebook’s Boston office wants to map the world’s population in high def, starting with Africa. More venture cash is flowing into Bay State startups. Read all this and much more in this week’s roundup of local tech news.—Tufin Software Technologies, a cybersecurity company based in Israel with its US headquarters in Boston, went public this week and is listed on the New York Stock...
Tags: Deals, Startups, Facebook, Boston, Softbank, Israel, US, Trends, Tech, Connecticut, Weather Forecast, New York Stock Exchange, Eric Schmidt, Video Game, Affectiva, Healthtech

Uber has already made billions from its exits in China, Russia and Southeast Asia

Uber’s exits from China, Russia and Southeast Asia were billed as failures from the company, but the ride-sharing giant has already made billions on paper from those moves, according to its IPO filing. Uber released its much-anticipated S1 on Thursday U.S. time and reporters and analysts are frantically digging into a treasure trove of previously-unreleased details. A number of sections on Uber’s global divestitures begin to paint a clear picture of the strategy that Uber employed when leaving ...
Tags: Google, TC, Uber, Asia, Indonesia, Mexico, China, Russia, Southeast Asia, Softbank, Tech, Automotive, Middle East, Tencent, Brazil, Yandex

Equity Shot: A deep dive into the Uber S-1

 Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. It’s time for another Equity Shot, a quick-take episode centered around a breaking news event. This time, as you already guessed, Kate Clark and I sat down to dig into the Uber S-1. It’s a huge, complex document, but we did our best to summarize what’s inside. First, we talked through yearly results, looking back a half-decade into Uber’s revenue growth. In t...
Tags: Apple, Startups, TC, Transportation, Uber, Finance, Ipo, Softbank, Chief executive officer, Tech, Economy, Transport, Venture Capital, Commuting, Travis Kalanick, Carsharing

Travis Kalanick stands to make billions from Uber’s IPO

Uber co-founder Travis Kalanick, who resigned from the company in 2017, still stands to make billions in the company’s intial public offering, expected in May. The ride-hailing giant dropped its S-1 this afternoon, confirming plans to trade on the New York Stock Exchange under the ticker symbol “Uber.” The company did not disclose the valuation it’s seeking, but is said to be planning to sell around $10 billion in stock. The filing highlights Uber’s key stockholders, including Kalanick, wh...
Tags: Fundings & Exits, Transportation, Uber, Business, Saudi Arabia, Ipo, Softbank, Tech, United States, Transport, Venture Capital, Commuting, Travis Kalanick, New York Stock Exchange, Kalanick, Carsharing

Insurance startup Lemonade raises $300M funding round

Lemonade, a tech-centric insurance startup that uses artificial intelligence, announced Thursday it had raised $300 million in a new round of funding.
Tags: Technology, Wall Street, Softbank, Insurance, Radio, Lemonade, Industry News, Chatbot, News Brief, Daniel Schreiber, Shu Nyatta

WTF is Baillie Gifford?

The SoftBank Vision Fund has been screaming from the venture headlines the last few months, driven by eye-popping rounds (and valuations!) into some of the most notable startups around the world. Yet, SoftBank isn’t the only player rapidly buying up the cap tables of top startups. Indeed, another firm, more than a century old, has been fighting for that late-stage equity crown. Baillie Gifford . … Who the what? When our fintech contributor Gregg Schoenberg interviewed Charles Plowden, the f...
Tags: Wtf, Softbank, Tech, Silicon Valley, Naspers, Baillie Gifford, Edinburgh Scotland, Amazon Google, NIO, SoftBank Vision Fund, Plowden, Gregg Schoenberg, Charles Plowden, Tesla Airbnb Spotify, Alibaba More, Pitchbook Baillie Gifford

Lemonade picks up $300 million Series D led by SoftBank Group

Lemonade, the insurance startup founded by Daniel Schreiber and Shai Wininger, has today announced a $300 million Series D financing led by the SoftBank Group, with participation from Allianz, General Catalyst, GV, OurCrowd and Thrive Capital. Lemonade uses an AI-powered bot to digitize the insurance buying experience for renters and home owners. Users simply download the app and answer a few questions before getting a quote, which starts at $5/month but can surely go up based on a number of ...
Tags: TC, Europe, Softbank, Tech, Lemonade, Schreiber, SoftBank Group, Shai Wininger, Daniel Schreiber, Allianz General Catalyst GV OurCrowd

Daily Crunch: China considers Bitcoin mining ban

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here. 1. Regulators in China are weighing a ban on Bitcoin mining Cryptocurrency mining has become the latest target for the Chinese government seeking to phase out industries considered to be a drag on the country’s economy. The National Development and Reform Commission, the top economic planning agency in the w...
Tags: Apple, UK, China, Softbank, Tech, Bitcoin, Crypto, Cryptocurrency, Klook, Ming Chi Kuo, Eric Gnock Fah, National Development and Reform Commission, David Liu, Daily Crunch, Bernie Xiong, Anita Ngai

Travel activities platform Klook raises $225M led by SoftBank’s Vision Fund

We recently noted that SoftBank’s Vision Fund has stepped up its deal-making in Asia this year, and today it added a new company to its roster: travel services platform Klook. Hong Kong-based Klook announced today that it has raised a $225 million round led by the Vision Fund with participation from existing investors. The deal — which is described as a “Series D plus” — comes just eight months after Klook announced its $200 million Series D at a valuation of over $1 billion. The company didn’t ...
Tags: Google, Fundings & Exits, Startups, Facebook, Asia, Europe, Japan, Southeast Asia, Softbank, Funding, E-commerce, Taiwan, Asia Pacific, Alibaba, Korea, Airbnb

VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less

If you’ve been following venture capital trends, what you expected to happen in the first quarter of 2019 did: More money is being invested in fewer deals, and women founders still are getting less of it than men.Venture firms sent $32.6 billion into startups nationally during the first three months of 2019, the second largest amount for any quarter since at least 2006, according to data released overnight by PitchBook and the National Venture Capital Association. But that large sum came from o...
Tags: Deals, Startups, Lyft, Uber, Hardware, Entrepreneurship, Softbank, Funding, Women, Trends, Tech, Vc, Software, Physics, Pwc, Venture Capital

Daily Crunch: Pinterest sets IPO range

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here. 1. Pinterest sets IPO range at $15-17, valuing it at $10.6B vs previous valuation of $12.3B Social media platform Pinterest filed an updated S-1, where it set the price range at $15-17 per share, which would value the company between $10 billion and $11.3 billion. That’s a tough (or, you might argue, cons...
Tags: TC, Lyft, Mark Zuckerberg, Pinterest, Southeast Asia, Softbank, Tech, Snapchat, Evan Spiegel, Gawker, Gawker Media, Univision, Terry Bollea, Grab, Gizmodo Media Group, Sinemia

Kabbage raises a record $700 million in debt for its SMB loans platform

Loan platform Kabbage — which offers quick assessment and approvals for small business loans using machine learning algorithms that pull data from dozens of sources — has closed another large securitization as it continues to grow its operations. The company said has closed an asset-backed securitization of $700 million, which it says it the largest transaction of its kind for an online lending platform focused on small businesses. Valued at over $1.2 billion after raising a big round from Softb...
Tags: TC, Softbank, Tech, Alibaba, Kabbage, Scott Rosenberg, Kroll Bond Rating Agency, Kabbage Asset Securitization LLC

The opium of California

The current frenzy of new IPOs — Uber, Lyft, Slack, Postmates, Pinterest and Airbnb — seems destined to reinforce progressive notions that California represents the future not just for the state, but the nation. It will certainly reinforce California’s fiscal dependency on tech-dominated elites — half of the state’s income taxes come from people making over $500,000 a year — and provide a huge potential multi-billion dollar windfall for the state treasury. To be sure, the insiders — founders, wi...
Tags: Apple, Lyft, Japan, New York, California, Opinion, Ipo, Softbank, Sacramento, San Francisco, Sport, Joe Biden, Intel, Soccer, Philippines, New York Times

Space tech rockets higher

Joanna Glasner Contributor More posts by this contributor Corporate biotech venture funding rises again 2019 US VC funds take a more boutique approach Venture investment in space technology is hitting stratospheric heights in recent quarters. But investors in the sector are betting it will rocket higher still. The latest example of high-velocity funding is satellite internet startup OneWeb, which recently announced a galactic-sized $1.2...
Tags: TC, Column, Space, Spacex, Elon Musk, Softbank, Tech, Satellites, Venture Capital, Private Equity, Mars, Anderson, Musk, Space Technology, Arlington VA, Chad Anderson

SoftBank eyeing additional $15B for its Vision Fund: Report

Softbank's Vision Fund, the venture capital arm of Japanese conglomerate SoftBank, is seeking to raise an additional $15 billion to invest in tech startups.
Tags: Technology, Softbank, Investing, Radio, Venture Capital, Compass, Saudia Arabia, Brokerage, Opendoor, Vision Fund, Blooomberg

Onfido, which verifies IDs using AI, nabs $50M from SoftBank, Salesforce, Microsoft and more

Security breaches, where malicious hackers obtain snippets of information that then get used to impersonate individuals in order to gain access to individuals’ and businesses’ sensitive financial and other private information, have become par for the course in the world of digital services. More than 2.7 billion records were  breached in a single incident this year in the US, and overall the damage from incidents like these potentially runs into the trillions of dollars globally. Today, a startu...
Tags: Security, London, Microsoft, Softbank, US, San Francisco, Tech, Salesforce, Europcar, Microsoft Ventures, Salesforce Ventures, Onfido, Equifax, Husayn Kassai, Kassai, SoftBank Salesforce Microsoft

Boston Dynamics bought a 3D vision startup to help make its warehouse robots a reality

Boston Dynamics announced it has acquired 3D vision startup Kinema Systems. Kinema Systems developed a software called "Pick," which helps robotic arms pick up and drop pallets. The acquisition signals an shift towards commercialisation for Boston Dynamics, which has historically been heavily focused on research. Boston Dynamics, the robotics company famous for sending the internet into a frenzy over its animal and human-inspired robots, on Tuesday announced its acquisition of a 3D vision sta...
Tags: Google, Amazon, Softbank, Trends, Boston Dynamics, Menlo Park, Marc Raibert, Raibert, Kinema, Kinema Systems Kinema Systems, Kinema Systems, Promat

Andreessen Horowitz isn’t alone in leaving behind VC as we know it — and more company is coming

This morning, Forbes wrote a lengthy profile of Andreessen Horowitz, the now 10-year-old venture firm that its rivals love to hate but nevertheless tend to copy. It’s a great read that revisits some of the firm’s wins and losses and, interestingly, regrets, including the founders’ early predisposition to talk trash about the rest of the venture industry. As Ben Horowitz tells reporter Alex Konrad, “I kind of regret it, because I feel like I hurt people’s feelings who were perfectly good business...
Tags: Apple, Google, Amazon, Startups, TC, Softbank, San Francisco, Tech, Venture Capital, SEC, Ben Horowitz, Andreessen Horowitz, National Venture Capital Association, Forbes, Cohn, RIA

Boston Dynamics acquires a 3D vision startup in bid to put its robots to work

Last week’s Handle video was different than past Boston Dynamics releases. Sure, it showcased the same sort of impressive robotics that have made every video from the company a viral hit, but this one took a very different approach than other recent releases: It put the robot to work. There were some clear aesthetic differences: the robot appeared a bit larger, and its two arms were swapped out for a single, overhead limb with several suction cups attached. The key differentiator, however, was a...
Tags: Google, Startups, Softbank, Tech, M&a, West Coast, Robotics, Boston Dynamics, Bay Area, Perry, Amazon Robotics, Marc Raibert, Raibert, Kinema, Kinema Systems, Today Boston Dynamics

Airbnb confirms stake in India’s OYO, sources say it invested $150M-$200M

Airbnb is continuing to widen its focus beyond ‘unconventional’ hotels as it gets ready for a much-anticipated IPO. Following its acquisition of HotelTonight last month, the company has picked today (April Fool’s Day) to confirm that it invested in India’s OYO — a startup that manages budget hotels and other stays. The deal has been rumored for a couple of months and it is additional to OYO’s (then) $1 billion Series E round which was led by SoftBank’s Vision and included participation from ride...
Tags: Fundings & Exits, Asia, Indonesia, China, Southeast Asia, India, Softbank, Funding, Tech, Ceo, Philippines, Malaysia, United Kingdom, United Arab Emirates, Sharing Economy, Airbnb

Airbnb confirms $150M-$200M investment in India’s OYO

Airbnb is continuing to widen its focus beyond ‘unconventional’ hotels as it gets ready for a much-anticipated IPO. Following its acquisition of HotelTonight last month, the company has picked today (April Fool’s Day) to confirm that it invested in India’s OYO — a startup that manages budget hotels and other stays. The deal has been rumored for a couple of months and it is additional to OYO’s (then) $1 billion Series E round which was led by SoftBank’s Vision and included participation from ride...
Tags: Fundings & Exits, Asia, Indonesia, China, Southeast Asia, India, Softbank, Funding, Tech, Ceo, Philippines, Malaysia, United Kingdom, United Arab Emirates, Sharing Economy, Airbnb

Bringing affiliate marketing and outsourced customer acquisition to Brazil nets Escale $22.6 million

Despite not being Brazilian and having their first exposure to the country only a few years ago, the two co-founders of Escale have managed to raise $22.6 million for their company, which provides customer acquisition services to companies in telecommunications and healthcare across Brazil. Their secret? A knowledge of search engine optimization technologies honed through side businesses the two ran back in the United States. The state of online marketing and digital sales was so woefully bad in...
Tags: TC, Softbank, Tech, Diamond, United States, Telecommunications, Healthcare, Brazil, Health Insurance, Rocket Internet, Latin America, Kaszek Ventures, Ifood, Nubank, Gfc, Consumer Finance

Grab is talking to Ant Financial and PayPal about spinning out its financial services business

Grab, the $16 billion-valued ride-hailing firm that acquired Uber’s Southeast Asia business last year, is in talks with Alibaba’s Ant Financial and PayPal as it considers spinning out of its financial services unit to double down on its non-transportation business, TechCrunch has learned. The seven-year-old company’s coming-of-age moment was a deal to buy Uber’s regional business last year, but it hasn’t enjoyed the total monopoly many foresaw. Instead, it is faced with a growing challenge...
Tags: Fundings & Exits, TC, Uber, Asia, Indonesia, Finance, China, Southeast Asia, Singapore, Softbank, Funding, Tech, Paypal, Thailand, Alibaba, Alipay

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